Is Steem as hot as it sounds, or is it just another Bitcoin ripoff? Before investing in either, make sure you study this article carefully!
It's potentially a solid cryptocurrency that, as usual, is another pretender to the Bitcoin crown. It is a decentralized currency that relies on all the basic foundations that Bitcoin has put in place. It is also fairly new to the marketplace and has yet to really demonstrate its potential (if it has any). As a crypto, SteemCoin is a steady, happy-go-lucky type that should see some good returns in the near future.
This is a tricky one with Steem because, in terms of currencies, there is not much difference between the two. Both are decentralized, and both are expected to increase in value. The resemblance ends there... Longevity-wise, we're still guessing at exactly how it will fare. The solid initial user base and its room for growth do tend to suggest a good upward trend, but there isn’t anything groundbreaking or amazing about it. How long this positivity lasts is anyone’s guess. We have seen popularity wane with many new cryptos time and again, and SteemCoin could well be a castle built on sand.
As a short-term investment over the next few months, Steem has the potential to see little bursts of growth and profit. If you’re looking for something more long-term or a currency that yields higher profits, then we recommend you continue shopping the crypto market or stay with BTC. There are too many unknown variables to say it is going to consistently grow. It should make good small gains in the short term, so if you want a few quick bucks and want to take a punt on a promising crypto, then SteemCoin could well be the crypto for you.
If you are looking to invest in some new coin that hasn't been discovered yet? If so, join the YouToken community. Visit YouToken.io to learn more about this coin's unique concept.