What is Steneum Coin (STN) Crypto Beginner’s Guide
Steneum is a blockchain-based platform that supports its digital token, the Steneum Coin (STN). STN is an open cryptocurrency that can be sent and received globally, with instant and secure transactions, and it functions as a unity of exchange that doesn’t rely on a central server or authority. All transactions that take place involving Steneum are recorded and displayed on the blockchain, while its data is kept private.
The Steneum platform was developed based on Bitcoin, so many of its features are nearly identical to Bitcoin. As with the popular cryptocurrency, users can send Steneum anywhere in the world, as long as they’re connected to the internet. Steneum coins are held in wallets that are available for download from Steneum’s website. The platform launched and its coin entered its ICO, its initial coin offering, on December 1 2017, with 1.5 million coins selling for $0.15 each.
Steneum is also a coin that supports the Bitsten exchange project. Instead of offering products or services, the coin merely supports a lending platform; Steneum promises to pay users 1% ROI (return on investment) per day, each day that they have STN coins. Users are required to acquire and lend 1000 STN tokens, and at some point will receive those tokens back as their daily returns are deposited into their wallets. Through this system, Steneum hopes to support its users and pay them back for their investment in the platform and its token.
Steneum and its ICO
While the tokens were priced at $0.15 for its first offering, they were sold in five rounds, with the price raised each round. The first round involved the first million coins; the second round involved 1-2 million at $0.20, and so on, up to the fifth round that raised the total amount of STN to five million at $0.50 each. All five rounds of the token sale took place in the month of December.
When Steneum originally was released on December 1, the site actually crashed because it was so popular, which made its developers push back the initial coin offering to December 5.
The Steneum Coin (STN)
Since there are no products or services available to buy or sell using the STN coin, investors can use STN as a stacking program in the Bitsten exchange market, receiving a daily income of 20%. Individuals can trade STN on several cryptocurrency exchanges and profit from price movements on the coin; individual users also have the opportunity to mine the coin starting on January 1, 2018.
There is a hard cap on the supply of STN at 20 million. Since there is an increasing demand for the coin, yet a limited supply, the expectation is that the worth of each STN coin will continue to rise as the years go on.
Steneum is a promising platform for cryptocurrency and offers a unique token. That said, coins that promise to provide high returns for users who merely hold the coins or put them on exchanges without much work or effort on their part, often turn out to be a scam. Steneum has qualities identical to scams such as Bitconnect, Hextra, and Regalcoin. Interested users should conduct research and ensure the safety of the coin, and whether they honestly want to participate, before they become involved.