![](https://steemitimages.com/DQmXFhUmHeGsaSPhBQjSmCJ6gNhqEr4YmvHTtok1Di9w2BK/image.png)
## The social media platform spreads its wings...
# 
Steemit, for those unaware, is a blockchain-based social media platform that rewards authors and commenters with STEEM and Steem-backed dollar currency. The system encourages networking and positive interactions by adding followers and "votes" of support for whatever is deemed worthy.

Steemit offers an interesting contrast to other social media platforms such as Facebook or Reddit in that it offers monetary rewards for writing, even just for good replies to other authors' works. Steemians can "power up" their voting capacity by dedicating their STEEM to "Steem Power", or they can "power down" and cash out their gains, if they prefer.

Now, the token is available on Binance. In today's extremely bearish market, the token's debut on the massive exchange has not made much of a splash. However, knowing STEEM's capacity for volatility, it is a token worth considering having in one's portfolio, whether for long-term gain or for short-term flipping into other currencies such as Bitcoin or Ethereum.

As Steemit continues to grow in popularity, the value of the currency should grow in the long-term. It's difficult to pick a bottom price for this token as it has historically been very volatile, but with current depressed prices, it might be a nice time to at least scoop up a few.

*This is not professional trading advice - it's just my opinion!

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ETH: 0x3edfc32dd4d8daf4ec31663d7b90911127b35d9f 

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image source:
https://steemit.com/steemit/@marccage833/improving-steemit-ensuring-tag-exclusivity