Steem Price Prediction: Is Steem Profitable?

Steem Price Prediction for 2018, 2019 and 2020

Cryptocurrencies have been taking over the world of finance. They have been picked up quickly due to their safe nature and easy procedure of investment without the attached hassles of traditional investment. Steem is another cryptocurrency which has come into existence and has been steadily working its way to the top of the cryptocurrency chain.

Before investing time and money into this growing cryptocurrency it is vital for the potential investors to know the good side as well as the bad side of Steem.

Is it safe and profitable to buy Steem? Is it an alternative to the famous bitcoin? Will Steem price rise or fall in the coming days?, are the few questions which any investor might have before investing in Steem. We have tried to clear out few of the queries regarding Steem.

What Is Steem?

Before understanding what a Steem is, it is vital to understand what a Steemit is. A Steemit is a blogging and social media website which is powered by the cryptocurrency Steem. Steemit is used by a user to generate and curate content similar to any other social news platform.

However, unlike other social news platforms, the creators get rewarded for their work in Steem. As per the report of December 2017, there are more than 500000 users of Steemit. The site was launched in March 2016.

There are a few basic components of this payment system that must be considered before getting started. Some of the fundamental components are:

Steem cryptocurrency

  • Steem

The Steem is an essential unit of account needed o the Steem blockchain.

The value of Steem dollars and Steem power is derived directly from Steem. The Steem will be used to buy Steem power or Steem dollars.

It is also vital to know that these Steems can also be converted into Bitcoins! It was first published as whitepaper and is now seeing an increase in supply by 9.5% each year. To put it in other ways Steem is a mixture of WordPress and Twitter.

  • Steem Dollars

For the effort of posting and curating, the users are rewarded with Steem dollars. The Steem dollars represent the amount of Steem equivalent to 1 USD and was created so the fluctuating exchange rate of the Steem won’t affect the users. Annually, they earn a floating, interest rate, which is set by the witnesses.

  • Steem Power

Steem power denotes how much power you have inside the Steemit platform.

If you don’t have any SP you cannot vote, however, if you have high SP you also have high vote counts in the system.

“Powering Up” is the term used for increasing your SP while decreasing it is known as “Powering Down”. Powering Down, in the most simple sense means cashing out the SP into Steem which can be done only over a period of two years so that that Steemit system does not cash due to frequent cashouts.

Once the Steem is converted to Steem power you cannot get it back as cash in few days, you have to wait for 13 weeks.

  • Steemit Platform

There are no coin limits in Steem and has a built-in annual inflation of 9.5%. This is a unique feature of Steem, unlike other cryptocurrencies. The Steemit platform gives a great opportunity to post and curate articles by earning Steem dollars and Steem power.

  • Steem Curation and Moderation

Anyone, even without an account can read contents posted on Steem. There is also an option of anonymity for the users. Although there aren’t many guidelines set on creation of articles, the guidelines are being created eventually through the Steemit community by the use of voting power.

Due to recent efforts of creating guidelines, quality original content has been fostered. Thus high-quality contents, in turn, give high rewards.

This has caused the undesirable content and spams to diminish over time. The “curators” on the system are the voters who have the power to evaluate these contents and seek high-quality information then vote according to the quality and relevance of the information.

It is best to create original contents and cite sources if you want to be rewarded.

You know! How Does Bitcoin Work? 10 Interesting Bitcoin Facts

Steem Price Prediction

Steem is estimated to have a high rise in the years to come. It has now risen into the place of being one of the top cryptocurrencies to invest in 2018. The Steem dollars are short-term saving which has been pegged to the US dollar.

In March 2017, the price of Steem was $0.0733. Eventually, in December 2017, it saw a significant rise to $3.16. Then in January 2018, it reached the highest since it’s launch in 2016 to $7.12. However, since February 2018, Steem price has seen a gradual decrease at $3.426. As of March 2018, Steem price has diminished and reached to $3.260.

For the first Quarter of 2018, Steemit Price is predicted at $6.5. For its second quarter, the price has been predicted to rise at $9.75 while in its third quarter the price is estimated to rise to $14.5. By the fourth quarter, it is estimated that the Steemit price will be $25.

The one-year Steem price prediction shows the rise in the price of Steem to 4.877 USD. Similarly, its five-year forecast shows a rise in the price to 11.258 USD.

The Steem pice has been seeing a lot of fluctuation in the past couple of months from reaching the highest to stooping to a very low. Since February, the price of Steem has been going down eventually.

Thus it is hard to tell exactly what might be the exact expected price of Steem, but looking at the historical data, it is safe to say that the prices might eventually see a rise in the following year.

Steem Price Prediction for next months and
years 


Steem Price Prediction for 2018


Months


Minimum (USD)


Maximum (USD)


April 2018


2.90543


3.27234


May 2018


3.05838


3.39974


June 2018


3.18075


3.54766


July 2018


3.30311


3.67002


August 2018


3.45607


3.79743


September 2018


3.57843


3.94534


October 2018


3.73139


4.06771


November 2018


3.85375


4.19511


December 2018


3.97612


4.43303


Steem Price Prediction for 2019


Months


Minimum (USD)


Maximum (USD)


January 2019


4.12907


4.47043


February 2019


4.25144


4.5928


March 2019


4.3738


4.74072


April 2019


4.52676


4.86308


May 2019


4.64912


4.99048


June 2019


4.77149


5.1384


July 2019


4.92444


5.26076


August 2019


5.04681


5.41372


September 2019


5.16917


5.53609


October 2019


5.32213


5.66349


November 2019


5.44449


5.81141


December 2019


5.56686


5.93377


Steem Price Prediction for 2020


Months


Minimum (USD)


Maximum (USD)


January 2020


5.71981


6.06117


February 2020


5.84218


6.20909


March 2020


5.96454


6.33146


April 2020


6.1175


6.45886


May 2020


6.23986


6.60678


June 2020


6.39282


6.72914


July 2020


6.51518


6.85654


August 2020


6.63755


7.00446


September 2020


6.79065


7.12682


October 2020


6.91287


7.27978


November 2020


7.03523


7.40215


December 2020


7.18819


7.52955


Note: This Steem price prediction is based on WalletInvestor‘s data analysis.

Steem could be Bitcoin alternative?

Unlike Bitcoin and other cryptocurrencies, the potential user will not have to rent hash power or expensive equipment. Bitcoin is also used to profit from the commission received after referring people to rent hash power. However, it is not the case with Steem.

It can also be an alternative to Bitcoin for the people who are interested in putting up interesting content. These contents can earn up to thousands for its originality and quality.

Is mining Steem profitable?

Since the number of Steem doubles each year there might be concerns regarding the loss of its value over time. A Steem will be half as much every year.

However, there has been a significant guideline made to prevent the loss of its value.  Every 3.32 years a 10:1 reserve split will occur which means that the number of Steem will go back to the initial year’s value after 3.32 years. One might even ask what is the point of investing in Steem if the value is reset every 3.32 years?

Steemit has already received a Global Alexa Rank of 1418 and a domain authority of 73 out of 100. Relative to the highest and the lowest ranking, Seemit seems to have a great ranking.

Since it was launched not long ago, its ranking proves that Seemit might have a bright future ahead. The answer to this is pretty simple. The value within the Steem will not be diluted but cycles around the reset number and can be redistributed to different Steem users and more to those who are active.

Don’t miss: Why Should buy Bitcoin And Why You Shouldn’t!

Today’s Steem price

 

Is Steem profitable?

Steem is useful to buy and trade easily, and the long-term commitment of the entire community will give it stability. Long-term commitment means rewards as well, so it is ultimately profitable to an active user who frequently contributes high-quality contents.

However, it is not so easy to gain profit from steem. Mining is most certainly a difficult task which will take a long time before reaching the state of profitability. Mining Steem is not as expensive as Bitcoin due to the usages of a cheaper server. Mining Steem only requires a server which is not so costly. The server can be upgraded over time. The difficulty faced during the mining process is getting the votes from the community to get the highest payouts.

If you start mining vigorously today, you might end up becoming a top ranking Steemit Witness. A Steemit Witness receives votes out of trust and commitment.

The Steemit Witnesses are chosen by votes and based on approval. If you become a top 20 Steemit witness, you get a chance to earn $300 to $600 a day in Steem power.

These witnesses can furthermore earn at least $50 in upvotes for making reports each week on what they are doing for the community. Simply put, Voting for the content in Steemit is like liking or commenting on Facebook. However, in the Steemit platform, the contributor of the content receives rewards through these votes.

If you are a blogger or have a lot of interesting contents, then it is best advised to start blogging on Steemit since it can be very profitable. Also, if you are not so eager about holding these Steem coins, you can transfer them to a third party exchange like Bittrex for bitcoin. Thus it is often regarded the least risky when it comes to investing in cryptocurrency.

However, although the Steemit platform is large and growing it is equally complicated to grasp for some users, and the execution of the payment for your effort is a far-fetched reality.

Steem might be profitable only to the people who are willing to be committed to it and willing to generate original and high-quality content consistently. Also, the capital risk may arise when you buy Steem power to boost your Steem account to make it profitable.

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One Response

  1. cryptowhale March 9, 2018

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