Last update: Jun 6, 2022

How to Buy Steem (STEEM)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Steem. Depending on where you’re based, you’ll have a few cryptocurrency trading platforms to choose from.

In this guide, we not only cover the top 3 global cryptocurrency exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Steem

How to Buy Steem – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Steem of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency trading platforms.

4. Buy Steem

Now that you have what you need to buy Steem, head over to the market or buy section of the cryptocurrency exchange and buy some STEEM.

If the crypto exchange doesn’t have any Steem on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Steem first), and trade your Ethereum for Steem.

Where to Buy Steem (STEEM)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Steem

  1. Sign into the exchange where you bought Steem.
  2. Move your Steem to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Steem.

 

Crypto trading

How to Buy Steem (STEEM) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Steem in Australia, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Steem if it’s available. If the exchange doesn’t have Steem. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Steem), and trade your ETH for Steem.

It’s also possible to check out our comparison of the crypto brokers in Australia If you’re curious to know more about which exchanges we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Steem (STEEM) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Steem in Canada, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Steem if it’s available. If the exchange doesn’t have Steem. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Steem), and trade your ETH for Steem.

If you’d like to know more about the exchanges we recommend, look at our comparison of the top rated Canadian crypto exchanges.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Steem (STEEM) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Steem in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Steem if it’s available. If the exchange doesn’t have Steem. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Steem), and trade your ETH for Steem.

You can also check out our comparison of the safest crypto exchanges in the UK If you’re looking to learn more about the exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Steem? STEEM Rundown

Steem, a community-focused Blockchain, creates an immediate earning opportunity for its users. Customers can earn a living by contributing to the network's value. It was created to allow users to post content online and receive cryptocurrency payments.

This protocol is an open-source, incentive-based blockchain database that allows users interact with each other and earn in return. The network uses both cryptocurrency and social media technologies to offer value. It ensures fair treatment of contributors through a reward system that is reflective of each user's contribution.

Steemit was the first application built on Steem's blockchain. It launched July 4, 2016. This protocol is designed to bring value to its users in the following ways.

  • To provide thoughtfully selected news and commentary.
  • Create an opportunity to make a living.
  • It is a source of answers for users' questions.
  • Stable cryptocurrency that is tied to the USD

Many social media companies have made a lot of money from the content created by their users. Steem is unique because it rewards its users for their contributions to the platform.

The network has a unique feature: it is built on blockchain technology, making it the first such platform. It is therefore non-custodial, decentralized, and has no data abuse. The platform's data are also perfectly protected. Users are also paid in cryptocurrency for their participation on the platform.

Steem's core principle is that all those who contribute to a venture must be paid by their owners. This is similar to what startups do when they allocate shares during funding rounds. A second core belief is that Steem should serve its community by offering various financial services and opportunities.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.