What is Steem Dollars?
Steem Dollar has various names like Steem based Dollar, Steem backed Dollar and SBD symbol. It’s a stablecoin which is meant to have a value equal to 1 US Dollar. Talking more technical a Steem Dollar is a promise to pay one dollar's worth of Steem when it's redeemed. The benefit of this coin is that entrepreneurs can adopt them more comfortable since they have a more stable value. The formulation of SBD is unique - you have to create content for creating a token. Creators receive their returns in Steem Power and Steem Dollar. The first payouts were made on July 4, 2016. Of course, SBD is not fixed. Sometimes it can get lower like in August 2017 and sometimes get higher than 1 US Dollar like in December 2017. In cases when Steem Dollar get lower than $1, people can redeem it for Steem worth in 1 US Dollar.