What is Steemit?

Page Summary

Steemit is a blockchain-based social media website. Users can earn STEEM for publishing and curating content on the website. STEEM is a cryptocurrency that traders can trade on cryptocurrency exchanges like Binance, Huobi, and Bittrex. Steemit Inc., a privately held company based in New York City owns the Steemit website. Ned Scott and Daniel Larimer founded Steemit, Inc. in 2016. 

What is Steemit?

Steem Dollars

Users are paid in Steem Dollars (SMD) for posting content on the Steemit website. Steem dollars are equal to 1 USD. SMD holders earn more than 10% interest yearly on Steem Dollars.

Steem Power

Steem Power is a token that shows how much ‘power’ a user has on the Steemit platform. Users with a lot of Steem Power earn Steam Dollars quicker. Selling SP can only be done over a period of 104 weeks, which prevents users from withdrawing all their money and causing the Steemit economy to collapse.


eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.


Please enter your comment!
Please enter your name here

This site is registered on wpml.org as a development site.