Hello So here's a further explanation on the differences between steam, steam power and steam dollars. Now they're all three of them essentially the same thing. They are all tokens of the cryptocurrency steam. However, they have different values and different purposes on the platform. steam is a cryptocurrency traded on exchanges around the world on the internet, and is currently worth about $1 30 cryptocurrencies are extremely volatile, and therefore, it's highly unlikely that the value will be that at the time you're watching this video, however, we can say that steam power will be exactly the same as steam or one steam power will be exactly the same as one steam. However, steam dollars are pegged to the US dollar So one steam dollar is worth around about $1.
And this is so you can make payments on the platform. So you always know that one steam dollar is always going to be around about $1. So you can make payments at consistent rates. Now steam is really the gateway to the outside world, it doesn't do anything much on the platform, but you can trade it for Bitcoin, and then from Bitcoin into US dollars or any other fiat currency. So therefore, you can cash out your money from the platform to the outside world. steam power.
On the other hand, even though it's exactly the same as steam, it has more use on the platform. It earns interest on the platform, so you make money while you hold it on the platform, but more so it gives you more influence on the planet. form. The more steam power you have, the more your vote counts when you upvote other posts as well as your own posts. However, the end interactions between steam and steam power are very different. You can convert steam to steam power very easily it's called powering up and it's instantaneous.
However the other way converting steam power out of the system maybe into steam is a very slow process. As soon as you start that process, you have to wait one week to get your first payment of steam and that will be only a 13th of your steam power. You have to wait a full 13 weeks 13 payments before you get the whole of your steam power out into steam. This is done to incentivize you to hold your steam power on the platform. You can convert steam dollars into steam Power. It's much better to do this via block trades than to do it on the platform, you get more steam power for your steam dollars by a block trade.
So I hope that helped you understand the difference between steam steam power and steam dollars. steam is the cryptocurrency that is traded on exchanges and it's a way that you can cash out your rewards on the platform. steam power is useful on the platform in that the more you have on it, the greater your influence, and steam dollars pegged to the US dollar is used on the platform for paying to promote your posts of paying other steam Ian's for any other reasons. It used to be true that you could only convert steam into bitcoin and fiat currencies. But now In fact, you can also convert steam dollars and steam dollars are being traded on exchanges on The Internet. My name is Rob Cameron.
I'll see you in another video.