You are viewing a single comment's thread from:

RE: Why STEEM Falls More Than Other Tokens

in #busy5 years ago (edited)

What we need are more pairs with STEEM. We only have a handfull of exchanges that even offer STEEM. Many of those exchanges don't offer multilingual options. Add on he fact that STEEM trading pairs are extremely limited makes convincing other currency holders to switch to STEEM very difficult. For instance, you go to one exchange and the only STEEM pairs are BTC and ETH and nothing else. Hop on another exchange and there may only be BTC trading pair.

While other people that have never used or bought STEEM may never get the opportunity to experiment with STEEM, because their preferred currency doesn't trade with STEEM.

I want to start an exchange that pairs STEEM with all other major cryptocurrencies, but with no fiat pair (at least for now). This would be the first of its kind to marry the power of a social media platform with an exchange. My exchange will leverage the existing userbase of STEEM as my exchange caters to STEEM users. The STEEM network can leverage the exchange to gain 10X the users STEEM has now. Most major exchanges have over 10 Million accounts. Some have done this within a year. STEEM has been around for two and a half years and barely broke 1 Million accounts. Just imagine an exchange that can draw huge numbers of users in which their trading utilizes STEEM as the central trading pair. This will introduce those people to STEEM and eventually they may want to open a STEEM account to store their STEEM off the exchange. Eventually, they will realize that STEEM is the best use as a currency as they can transfer it for free and extremely fast. When bitcoin traders move currency between exchanges, they don't use Bitcoin, they use litecoin. Why? Because it doesn't have the burden of high fees and long transfer times. STEEM is much faster and FREE. If STEEM becomes that conduit to transfer value, then eventually people will start to realize that STEEM is the best currency. The reason that people don't stick with Litecoin is because it doesn't offer them anything else. It doesn't have a social media system. It doesn't give people the opportunity to power up to increase their influence and earnings. There are a massive number of cryptocurrency owners and investors. This exchange will tap into that group and convert many of them into STEEM account holders.

I cannot do all of this on my own. I need developers, volunteers, and investors to get this exchange started.

Sort:  

Hey brilliant idea @socky. I'm no expert and new to Steemit, but I love blockchain technology and crytpo as well as creative writing so the Steem project really appeals to me. I would be happy to offer my moral support and perhaps there is a place that i could assist in your grand venture. Will work for crypto, or even volunteer if needed to further a revolution so hook me up.

Thank you. Hopefully I can get this concept rolling soon.

Coin Marketplace

STEEM 0.29
TRX 0.12
JST 0.032
BTC 64266.51
ETH 3121.56
USDT 1.00
SBD 4.08