We are happy to announce that Binance has re-enabled deposits and withdrawals for STEEM. Thank you for your patience.
Exchange Relations
Exchanges are a very important part of the Steem ecosystem. We work very hard to maintain close working relationships with all of the STEEM exchange providers and are constantly on the lookout for great exchanges to work with.
Currently, there are 180 currencies across the world, as recognized by the United Nations. Our goal is to have STEEM trade against as many fiat trading pairs as possible. We think this is a very important strategic component of expanding the utility of the Steem ecosystem and empowering entrepreneurs around the world.
Where do you want to see STEEM listed next? Let us know in the comments below. 🌎
The Steemit Team
Steemit Inc Must Build an Exchange
Steemit Inc has the ability to create massive source of revenue for themselves and for the reward pool.
All they need to do is create an exchange just like any other major exchange.
Steemit Market
We have a Steemit Market, but that is only good for small volume trades between Steem and SBD. Have you ever looked at the large transactions? They never use the Steemit Market. They can't use the market. They also can't trade against other currencies. They are forced to take the large sums of STEEM and SBD offsite to a real exchange. Those exchanges are taking fees that profits the exchange. Steemit doesn't benefit from these large trading volumes.
BlockTrades
This is not a solution either due to high fees. BlockTrades is an Over The Counter (OTC) exchange. It will never compete with a real exchange and no one uses it for very large transactions.
Both of these trading options have their place, but there is a massive vacuum where a Steemit Exchange should be.
The Fix
I propose that the Steemit Inc build and operate an exchange. The Steemit Market can remain just like it is to cover small volume trades between STEEM and SBD. BlockTrades can remain just like it is to handle simple OTC transactions. The Steemit Exchange would work on a virtual currency system just like other exchanges use. One can transfer STEEM or SBD to the new exchange before trading takes place. That will fix the transaction speed issue from drowning the Steemit Market and provide another option. The exchange will also need to include other currencies. This would fix the volume issue and add revenue. Let's also give multilingual options. Open this up to the rest of the world. German, Russian, Spanish, French, Chinese, Japanese just to list a few.
If Steemit Inc would make an Exchange division to run this exchange and charge a tiny fee on trades just like any other exchange, then they can generate revenue. Exchanges are highly profitable by doing this. Trades between STEEM and SBD can remain free as there is no cost to transfer STEEM and SBD. STEEM will also be a primary trading pair which will boost STEEM as a popular world currency. By adding other currencies and charging trading fees, they create a source of new revenue coming into Steemit to fund Steemit projects and upgrades. This revenue could cover Steemit Inc costs and could overflow into the STEEM reward pool. This would benefit everyone and could kick Steemit into high gear.
An exchange will bring in new users to this platform. Other major exchanges have around 10 million users. Binance has exceeded this in less than a year. Steemit is over 2 years old and barely broken 1 million users. If Steemit Inc runs an exchange, this will create an avenue for Steemit Exchange account users to become Steemit account owners. The amount of visibility to this platform would be enormous. Value would be added to Steemit platform as the value is expected to follow Metcalfe's Law. This is an exponential value prediction that Facebook closely resembled in which value is expected to increase by 4 times for every time the number of active users doubles. Steemit is expected to follow Metcalfe's Law.
In conclusion:
Coinbase, Bitfinex, OKEx, Kraken. In that order. :D
Exactly this. Thanks in advance
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Personally I'd prefer if we never get listed on BitFinex. Crypto system is already way too exposed to an exchange acting effectively as a central bank for other exchanges, at the moment we're at least only indirectly exposed to them.
I agree, I'm personally not in a big rush to get listed on more exchanges as Binance and Bithumb are about to release their decentralized exchanges soon which will be a lot more safe and we're already listed on those. :)
This is what I am waiting for. the decentralization of exchanges needs to happen to improve the security of users funds.
The same can be said for Coinbase. While i do have accounts on both platforms (in fact on all platforms suggested by @acidyo), I cant remember the last time i touched them because of how KYC/AML compliant they've become. Not to mention the allaged insider trading happening in Coinbase.
It's a Catch-22 though, exchanges need to be like this to get "normies" interested but will lose the value that made cryptocurrency what it is.
IMO they're completely incomparable. Coinbase is KYC under the state thumb, but Coinbase isn't acting as a central bank for other exchanges. All the large exchanges have accounts with BitFinex and they use it to provide liquidity between exchanges. BitFinex manages a token which represents a custodial fund of USD, which they recently moved to a bank in the Bahamas. Even if we assume it's all above board, the crypto ecosystem is far more systemically dependent on the honesty and soundness of BitFinex than any other exchange by far.
It that case then i agree. But Coinbase itself is acting exactly like how a retail bank would act, and i was thinking from that angle. Again, a catch-22 because not listing on these platform means the average american joe will never hear of Steem when they google "Which crypto should i invest this month"
Exactly!
@steemitblog,
CoinBase.Com, Cex.Io
Cex.Io is the best way to buy STEEM directly for most of Asian regional countries!
Cheers~
Gemini, which just added a regulated USD “stablecoin” and allows direct transfers to and from fiat bank accounts.
this would make it a lot more viable to use steemit for americans.
This would be my hope too.
Gemini is also exchange? Please!
TOOK Ages!!!
ZB.com, bibox, digifinex, gate.io, Kucoin etc., basically top 100 exchanges by volumes, https://coinmarketcap.com/exchanges/volume/24-hour/
Bitbns exchange. This is Indian exchange basically as i am using other exchange of India but this is good so even steem can attract Indian people.
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Yes any indian exchange will be fine.
COINBASE and COINBASE please !!!
Hehe! Had my STEEM stuck on Binance for 1 month, they were refusing to give it to me unless there was a Tax Id.
When I saw the witness node updates to reindex the blockchain I know it was about this.
The only strange thing is that I got my STEEM back 3 week ago. :D
Oh well, good Job @ned and Co.
Cool, now @poloniex ;)
Also nice to hear about Binance withdrawals, let's see if some of the recent buyers are looking to power up in the next few days.
Yup yup. I had a spare hundred 2 weeks ago. Anytime I can I buy a bit here and there. It’s been sitting with Binance for weeks now. Powering up more now!
重新开张，总归是大好事情！👍
Good News!
indodax
Make Steem Great Again, guys!
You've made the Steemit Minute for today! Congrats!
Check out the Video Here: https://steemit.com/news/@reseller/ywe4kwyf
What do you think, if STEEM is in INDODAX. We, Indonesian steemians have been voting coins at INDODAX.com. However, we failed.
INDODAX is a market that provides cryptocurrency exchange with rupiah (IDR / Indonesia).
how about bitmex...
would be nice to able to short and leverage steem
Really good news!
Keep working on that.
Being listed at Coinbase will be a big achievement.
COINBASE
Coinfield will put it on a Canadian based exchange.
coinfield.com
LUNO
First of all I would love to see an Fiat-on-ramp on Steemit.com itself. Whether this would be established by a third-party developer like e.g. EasyDex or from Blocktrades doesn't matter, but it would provide such a huge economical improvement if we could have a Fiat exchange available right on the Steemit.com site.
Than other exchanges like Coinbase and Bitfinex would be great as well!!!!
Wow, I thought that they were enabled a while back. I use both Binance and Bittrex, and lately I just stuck to Bittrex. I think I just need to sign in now and then. The same probably goes for Ledger wallet, as I know they like to do updates often.... I am probably behind (:
resteemed!!!
Looks like plenty of people are already suggesting it, but Coinbase is pretty much the only exchange I use. However, I'm sure there are plenty of others, and getting onto two or three of them would be great for everyone here. Having one less hoop to jump through would really make things not only convenient for me, but I imagine it would help STEEM as well, since so many of us work from fiat anyway.
CoinBase!!! 👍😃
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I wonder what the problem with Steem wallets is, since it is way more often and longer in maintenance than every other coin on Binance. It is already awful to have to wait 13 weeks for a powerdown, but then another 6-8 weeks to be able to trade Steem is a no-go.