In this guide you’ll get information about where to buy Kusama coin, if you are planning to buy KSM – You’re in the right place!
If you are familiar with Polkadot, then you won’t be a stranger to Kusama. Often described as the wild cousin of Polkadot, Kusama acts as the experimental (blockchain) platform designed and created to provide scalable and interoperable framework (and basic foundation) for developer. Kusama itself is built on a (blockchain) building kit provided (and developed) by Parity technologies. Polkadot has gained positive reputation blockchain in the crypto world because of its interoperable nature.
It’s convenient for the developer team to claim that Kusama comes with similar codebase as the Polkadot. The idea is to enable developers to make use of the provided testbed so that they can deploy and innovate their blockchain. With Kusama, developers can enjoy sharded and interoperable network while accessing highly scalable ecosystem at the same time. Moreover, many of the features can’t be found elsewhere, including on Polkadot.
Table of Contents
Kusama (KSM) Features
- Developer’s focus. Unlike other platforms that focus on the users, this platform focuses on the developers. There aren’t many platforms focusing on developers, especially those who want to launch ambitious and bold projects with fast-pace within the development.
- Multichain foundation. The platform is constructed on sharding design with heterogeneous and multichain nature using NPoS consensus, which is an alternative option to PoW scheme. This alone makes it possible for fast on-chain upgrade performance without a fork. It also supports message delivery within cross chain ecosystem.
- On-chain governance. The system uses permissionless and decentralized governance where users with KSM or parachain tokens can vote on the proposals. The proposals may include feature requests, protocol changes, and also putative upgrades.
- Intuitive and useful platform. Kusama is called the Canary Network because it can warn developers of vulnerabilities, dangers, and problems within the codes they are working on and building.
- Not a testnet environment. A testnet is basically a development environment and ecosystem without any token use. In most cases, testnet would use valueless tokens. However, Kusama has KSM for value defining.
- Different roles and participations. Users can have different roles and functions in the platform. There are builders and also network maintainers. Users are also free to participate (or not) in the network. If they decide to take part, they will be incentivized.
Where to Buy, Sell and Trade Kusama aka KSM
You can basically use debit card, credit card, or even PayPal to buy the Kusama (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Kusama 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 Kusama. 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:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports Kusama currency and exchange your Ethereum or Bitcoin with the Kusama
- Store your Kusama 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.
Get $10 Bonus when you sign up for Coinbase!
- 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 Kusama, 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 Kusama:
IMPORTANT! Once you are registered to any of the above, find the BTC/KSM or ETH/KSM 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 Kusama (KSM) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- 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+
Frequently Asked Questions (Faqs)
Can I Buy Kusama (KSM) 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 Kusama. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Kusama (KSM) 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 Kusama (KSM) with Skrill?
You can’t buy KSM directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Kusama. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Kusama (KSM) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/KSM and begin the transactions.
Can I Buy Kusama (KSM) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/KSM trading pair.
What Is the Best Payment Method to Buy Kusama (KSM)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Kusama right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Kusama (KSM)?
Once you have purchased the Kusama, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Kusama (KSM)?
Find a crypto exchange which allow pairing KSM with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Kusama (KSM) 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 Kusama is to buy it from a reliable exchange.
For blockchain developers looking for a perfect environment to create and work on their platform, Kusama can be a good starting point. With all the available features, users will get great bargains. The problem is, the only way to get into the platform is through crypto purchase. Interested investors and users will have to buy Kusama (KSM) first to gain access to the platform.