How to Buy Serum (SRM) • DEX Token • Benzinga Crypto

Want to jump straight to the answer? You can buy Serum on Binance and FTX Exchange.
Serum is a decentralized exchange built on Solana ’ mho blockchain. Solana uses proof of stake consensus, making it a lot easier to promptly send and receive cryptocurrency without paying gamey fees. equitable like how Solana is a rival to Ethereum, Serum is a rival to Uniswap, the leading DEX on Ethereum ’ mho blockchain. Before jumping correct into how to buy Serum, take a deeper look into what it truly is, its history, and what the project is all about .

What is SRM?

SRM is a utility token used on Serum, a decentralized rally, besides known as a DEX. Serum is built on the Solana blockchain and is cross-listed as an ERC-20 token on Ethereum. Its determination is to offer decentralized finance ( DeFi ) with fast transactions at a abject price while remaining wholly crystalline and trustless. While most DEXs run on automated market makers, Serum runs on an on-chain central limit order bible .

serum
$ 0.76

Buy Serum

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Serum is unique because it is a cross-chain barter protocol that allows users to exchange assets between blockchains in a trustless manner. The Solana blockchain that Serum is built on is a layer-1 blockchain with all of the security and simplicity that would be expected from a layer-1 protocol. however, it offers the focal ratio and scalability of a layer-2 blockchain. This is what allows serum to offer sub-second trade at only $ 0.00001 per transaction .
Serum was co-founded by Sam Bankman-Fried, who is besides the founder of the FTX cryptocurrency derivatives exchange and co-founder of Alameda Research .

Brief History of Serum

The Serum Foundation was created through an alliance between FTX, Alameda Research and the Solana Foundation. In July 2020, the Serum whitepaper was published with the plan to create a DEX without the problems of existing DEXs such as insufficient cross-chain support and miss of ordering books in automatize marketplace makers .
In a relatively unretentive time, Serum has established itself as a big actor in the crypto industry. It launched in August 2020 with 2 initial substitute offerings. One was on FTX and the other was on BitMax. They sold their SRM token for $ 0.11 per keepsake and within 15 hours it was trading at 15 times that total. together, the 2 exchanges sold 6 million SRM tokens raising $ 660,000 USD .
At the time of write, the keepsake is priced at $ 6.49, and while it has been going down recently, as a solid the token has increased in rate steadily. It hit an all-time high on May 23, 2021, reaching about $ 13 per keepsake .

How to Buy Serum

overall, it ’ mho pretty impressive. so, now you ’ re probably ready to learn how to buy Serum yourself. Most of the experts look at Serum as a long-run investment, therefore keep that in heed when you plan your purchase .

  1. Open an online account. Your first footprint to buy Serum is to open an report on an change. There are several to choose from, but your best options are Binance or FTX.
    Opening an account is fairly simple. just go to the registration page, enter your electronic mail address and create a strong password. After this is done, you should receive an e-mail containing a code to verify your history.

    once your account is verified, if you haven ’ thymine already, you should enable two-factor designation ( 2FA ) to ensure extra security for your report. You will besides have to go through Know Your Customer ( KYC ) which is required to prove that you are who you say you are. To do this, you will have to submit recognition.

    This is typically a visualize of your driver ’ mho license ( front and back ), your recommendation, your social security system total or another document that the substitution will request. normally, this process is reasonably immediate, and once it ’ sulfur dispatch, you can make your beginning leverage !

  2. Buy a wallet (optional). A wallet is normally recommended if you ’ re going to own any kind of cryptocurrency and keep it safe. While this is considered an optional step, you should look at it as extra security system for your assets. Keeping your crypto on an exchange means it ’ s vulnerable to hackers, outages and early likely problems.

    A hardware wallet is constantly the safest option because it ’ sulfur connected to the internet. Because of this, it ’ s impossible to hack into and have your crypto stolen.

    Software wallets are connected to the internet through your telephone or calculator. This makes them more convenient because your crypto is easily accessible at any time. however, it is besides more vulnerable to attack, indeed keep this in mind when making a choice.

  3. Make your purchase. Your best bet for buying SRM is Binance or one of the other exchanges listed above. Set up your explanation on the chosen change, link your depository financial institution account and add funds to that account to make your purchase.

    immediately, just find SRM on the market page and make your purchase ! Pretty bare, correct ?

Cryptocurrency Wallets For Serum

Best hardware wallet: Ledger 

A hardware wallet is normally your best option for holding onto crypto long-run, which is what most buyers of SRM do. Ledger is arguably the top hardware wallet you can get. It ’ s therefore thoroughly that Serum lists it on their wallet support page .

Best software wallet: SOL

Serum itself recommends the SOL wallet because it is designed to work with assets that are Solana-based. early recommendations from Serum include Math Wallet and Coin98 wallet .

Step 3: Make your purchase.

Your best bet for buying SRM is Binance or one of the early exchanges listed above. Set up your history on the chosen exchange, link your depository financial institution account and add funds to that account to make your purchase .
nowadays, just find SRM on the market foliate and make your leverage ! Pretty bare, right ?
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Bonus:

Serum has a 5-part “ roadmap ” that, at the fourth dimension of writing, is on Phase 3. Watch the page for Phase 4 and get ready to see where it ’ sulfur going next !

Trade, Sell or Convert your SRM

Most experts agree that your best option with SRM is not to sell, but to hold it long term. If you hush want to sell, it ’ s a fairly simple process. Just log in to the exchange you prefer to use, transfer your SRM to that central and place a sell rate for the measure of SRM that you want to sell .
Converting your SRM works similarly. alternatively of placing a betray order, you can convert it into another cryptocurrency. typically, you will see a list of currencies that you can convert your SRM into. Choose the one you want and push the release .

Current Crypto Prices

The prices of cryptocurrencies go up and down all the time, no matter if it ’ randomness Bitcoin or altcoins. It ’ mho always best to look at the big picture. alternatively of looking at prices that have dropped over the week or month, look at what they ’ ve done over the last year, or since they launched .
Serum is a perfect exercise of a token that has shown a holocene drop, but the big picture shows brace growth since it foremost became available.

Is Serum a Good Investment?

Experts seem to think Serum is a commodity long-run investment, with some predictions calling for more than a 400 % increase over the next 5 years. That sounds like a pretty good come back on investment .
If you ’ rhenium looking for fast returns, SRM isn ’ t a promptly pump and dump coin, but if you ’ ra will to hold for the long term, Serum may be worth adding to your portfolio .

source : https://ontopwiki.com
Category : Finance

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