How to Buy Golem (GLM) in 2021: A Simple Guide

Golem (GNT)In this guide you’ll get information about where to buy Golem token, if you are planning to buy GLM – You’re in the right place!

Golem cryptocurrency is used on platform where users can share computing power using blockchain concept created on August 2016. With this platform users can rent their computer processing power and earn token from it. The machines will be connected using blockchain to the network. The idle power of each computer can be monetized on the network by the miners. The token is used as payment for the rent. The cost itself is determine by those who loans their power with fair rates.

Golem is a global decentralized supercomputer that incorporates computing power on its network. Users of Golem ecosystem can share economy by loaning out their computer’s spare resources to people who need additional power. This model is similar to the one used by Airbnb and Uber. In this way, users can make some extra money with their resources in a solid way.

The Golem project has been around for more or less three years with its first stage of service called Brass Golem. This service focuses primarily on CGI rendering intended for 3D modeling application. In addition to create a worldwide supercomputer through a global distributed network, the Golem project also enables those with spare computer power to offer their idle CPU to  the network and make some GNT tokens from that

GOLEM (GLM) Features

  • Clay Golem. This feature consists of the Application Registry and Task API to make a solution for generalized distributed computation. Using Clay, developers will be able to integrate dApps with Golem. Even though, such functionally may come at reduced security and stability. It enable new solutions, prototypes, and new ideas to be built on Clay.
  • Stone Golem. The reduced stability and security of Clay is improved with Stone Golem. Not only does it enhance stability and security, it also improves other functions. Additionally, it introduces the Certification Mechanism that functions to approve commendable apps and the Transaction Framework.
  • Iron Golem. This is the most secure and stable version of Golem. It gives developers freedom to explore and use numerous tools. It runs outside of the sandbox and requires internet connection. Iron Golem will use a certain functionality called Golem Standard Library that boost interactions with interactions with Golem framework from within different programming languages. This will ominously increase potential use cases of Golem.
  • Powerful computing. With Golem users can do various task using powerful computing without any limit.
  • Trusted network. Golem network connecting the computer using a hub to ensure security over the data send and received.
  • Ethereum based. The transaction in Golem system is done in Ethereum based when settling payment between involved parties.
  • Sandbox system. The computation done in Golem system will be done inside sandbox system which isolated from host network.
  • Software developer. Developer can create application which will be distribute over the Golem system using transaction and registry system monetize to earn token.
  • Large market. Golem is not only used by miners but also those who need powerful computing, software developer and many others that make the market bigger.

Where to Buy, Sell and Trade GOLEM aka GLM

You can basically use debit card, credit card, or even PayPal to buy the GOLEM (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the GOLEM as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to GOLEM. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.

In general, the process would be:

  1. You go to the online exchange and buy the Ethereum or Bitcoin
  2. Find a crypto exchange that supports GOLEM currency and exchange your Ethereum or Bitcoin with the GOLEM
  3. Store your GOLEM to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

Get $10 Bonus when you sign up for Coinbase!

coinbaseClick here to register (opens in new tab)

  • You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
  • Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
  • You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.

That’s the first step in buying GOLEM, once you get your Bitcoin or Ethereum, you can continue to the next step.

Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments

After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.

With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.

These are the best exchanges we can recommend for you to exchange BTC or ETH with GOLEM:

BINANCE
binanceBinance is  the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now. Binance.com is unable to provide services to U.S. citizens or residents.

  • Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
  • Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
  • Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 345+ more
  • Trading Pairs: 1189+
GATE.io
gate.ioGate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions. Gate.io crypto exchange allows users in 49 states within the US to trade the spot crypto market except for Washington State and New York State.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 565+ more
  • Trading Pairs: 1118+

IMPORTANT! Once you are registered to any of the above, find the BTC/GLM or ETH/GLM trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.

Step 3: Managing Your Crypto Assets in a Secure Wallet

As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.

For Securing your GOLEM (GLM) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

Frequently Asked Questions (Faqs)

Can I Buy GOLEM (GLM) with PayPal?

You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the GOLEM. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy GOLEM (GLM) with Cash?

You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:

  • Make sure you have a BTC / ETH wallet before you buy from seller
  • Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.

Can I Buy GOLEM (GLM) with Skrill?

You can’t buy GLM directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to GOLEM. You can buy BTC/ETH with skrill by using these exchanges::

Can I Buy GOLEM (GLM) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/GLM and begin the transactions.

Can I Buy GOLEM (GLM) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/GLM trading pair.

What Is the Best Payment Method to Buy GOLEM (GLM)?

The cheapest way is to use bank account to buy Bitcoins first or to buy the GOLEM right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect GOLEM (GLM)?

Once you have purchased the GOLEM, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

ledger nano x

Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

How to Sell GOLEM (GLM)?

Find a crypto exchange which allow pairing GLM with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine GOLEM (GLM) and Not Buying It?

You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a GOLEM is to buy it from a reliable exchange.

Conclusion

Golem network is very large which used not only those who need powerful computing but also software developer, miners, and many other. With trusted network, data send and received is encrypted to ensure system. With functional sandbox system, the security of data cannot be access by the host network. The transaction is done using Ethereum based which means it will be fast and secure payment. Those who learn how to buy Golem can participate in various ways to earn the token.

Soon after it was launched in the middle of 2016, Golem became the top-ten crypto by market cap. However, the rank has fallen since then. The decline does not mean that the team of Golem has stopped making progress, though. The team has consistently improving the Brass Alpha by releasing some updates. Furthermore, they keep expanding their reach worldwide, and ramp up community outreach, and tech support.

Leave a Comment

error: