Did you happen to notice that the price of STEEM went up when it is listed on Huobi Exchange?
The number of exchanges that STEEM and SBD are available on are severely deficient. This is hindering Steemit community and forcing the price of STEEM to remain low. I evaluated the price of STEEM at $109 because a majority of the currency is locked up in Steem Power. When comparing the liquid currency and price to other currencies in the top 50, Steem should have a market price of over $100. Why is STEEM so low? It is just not made readily available because it is on very few major exchanges. Help me change that!
Lets put the lack of exchanges concept in perspective. Perhaps you want to buy a new car. You have plenty of Ford, Chevrolet, Toyota, Dodge, Mazda, Volkswagen, Subaru, and Honda dealerships where you live. They speak the same language that you use. However in order to buy a Hyundai, you have to go to another country to buy it and they don't speak your language. There is a high probability that you would not buy a Hyundai.
This is the dilemma with STEEM and SBD. As a currency, if it is not made available everywhere, then people would likely use something else. In comparison to other currencies ranked in the top 50, STEEM and SBD are severely lacking access. When people don't buy it or use it, the currency has little value and thus the price will remain low.
Other currencies have dedicated teams aggressively convincing exchanges to list their coin. STEEM seems to leave that task up to US.
Here is how you can make a difference for Steemit future.
I now have three forms to fill out.
#1
We need to let Poloniex know that there are many people that want STEEM and SBD wallets fixed on their exchange.
Here is a link to the Poloniex example. It explains (with pictures) how I filled out the form.
https://steemit.com/steemit/@socky/how-to-get-steem-and-sbd-wallets-working-on-poloniex-let-s-make-steem-great-again
#2
We need to let HitBTC know that there are many people that want STEEM and SBD wallets fixed on their exchange.
Here is a link to the HitBTC example. It explains (with pictures) how I filled out the form.
https://steemit.com/steemit/@socky/let-s-make-steem-great-again
#3
Follow this link to an article I wrote about listing STEEM and SBD on Cobinhood. It explains (with pictures) how I filled out the form.
https://steemit.com/steemit/@socky/how-to-request-steem-sbd-listing-on-cobinhood-exchange-by-socky
People can buy steem power at steemit.com by exchanging other coins. How do you feel the access is less?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Are you getting a good deal for that exchange?
The answer is no. You may not realize that there are huge fees. Also if you have some SBD saved up and can't take it to an exchange because the exchange is not in your language. What do you do? you can exchange it on the Steemit market. But wait a second, exchange rates are highly inaccurate when the local market doesn't have enough volume. You may get a really bad deal during the exchange. What if you had a significant amount of SBD and attempted to trade it on the Steemit market and the trading volume is extremely low. You literally can't sell your SBD. Money that can't be traded is worthless.
Ever wonder why Bitcoin is used everywhere when it is expensive to transfer and transactions are extremely lengthy? You would think that STEEM would seriously overtake Bitcoin as the most adopted coin since transfers are free and only takes a few seconds to transfer. Why doesn't it? Answer: Because it is not available everywhere. Bitcoin with all its fallacies is widely accepted because it is available everywhere cryptocurrency is used. STEEM is not.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Very educating in details, I learn a lot from your blog. Thanks for the knowledge you share with us I will be competing those forms too
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
One day Steem will reach its total supply and then Steem price will be reach quite high value.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Oh yes people, let’s all contribute to this. It’s all our responsibility, do whichever one you can and your little part will definitely go a long way
I did my own little part and I’m proud I did
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes. Proof that you submitted the form is wonderful. Thanks for helping folks here understand they can fill out the form.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think Switching Your assets in STEEM and SBD can help this alot as well.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes!..Im gonaa take part in the effort of making steemit GREAT...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good price today people should be buying!!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Very good information @socky thanks for your sharing
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
good article sir.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit