In this guide you’ll get information about where to buy Serum, if you are planning to buy SRM token – You’re in the right place!
Those who are interested in crypto exchange would love the chance to take part in Serum ecosystem. Serum is a crypto DEX that is constructed on Solana blockchain. As one of the first (main) projects constructed on Solana, the platform supports interoperability nature. Serum can interact and integrate tot other cryptocurrencies, including Ethereum and Bitcoin. Serum is different from other DEX platform due to its nature.
In Serum, users can enjoy trading mechanism based on the order book, which is similar to the centralized crypto exchange. However, it is different from other centralized platform is the fact that Serum can manage 50 transactions to 65,000 transactions within a second. This is the similar performance and ability of Solana blockchain’s underlying TPS. In short, this network is able to bring low (transaction cost) and high speed arrangement into its DeFi ecosystem. To improve performance, it is permissionless, which makes it more effective and efficient. The idea of Serum’s creation is to eliminate problems and vulnerabilities of current DeFi system due to incomplete decentralization.
Serum (SRM) Features
- On-chain orderbooks. Users can make use of the familiar system (as the centralized) one with full limit familiar interface that makes operation easy
- Trusted and solid speed. The platform implements sub-second settlement and trading
- Low and efficient cost. When compared to other DEX platforms, this one has low cost. With $0.00001 a transaction, this is definitely a bargain.
- SRM token. This utility token is the main drive of the ecosystem. The token utilizes cross-chain (swapping) protocol allowing users to perform asset exchange among blockchains within a dependable and trustless manner. Thanks to this token, users can enjoy 60% off from the total fees. Moreover, around 80% of (DEX) fees would go to SRM burns and buy, which means that users can enjoy the profitable outcome.
- Solana construction. Solana is one of the most trusted blockchain platforms in this sector with 400ms of block time. With very low transaction cost, scalability is no longer an issue
Where to Buy, Sell and Trade Serum aka SRM
You can basically use debit card, credit card, or even PayPal to buy the Serum (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Serum as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to Serum. 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 (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Serum currency and exchange your Ethereum / Bitcoin / Tether with the Serum
- Store your Serum to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT) 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 Serum, once you get your Bitcoin or Ethereum or Tether, 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 or USDT 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 or USDT with Serum:
IMPORTANT! Once you are registered to any of the above, find the SRM/BTC or SRM/ETH or SRM/USDT trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum/Tether
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 Serum (SRM) 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 Serum (SRM) 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 Serum. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Serum (SRM) 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 Serum (SRM) with Skrill?
You can’t buy SRM directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Serum. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Serum (SRM) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair SRM/BTC and begin the transactions.
Can I Buy Serum (SRM) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support SRM/ETH trading pair.
What Is the Best Payment Method to Buy Serum (SRM)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Serum right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Serum (SRM)?
Once you have purchased the Serum, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Serum (SRM)?
Find a crypto exchange which allow pairing SRM with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Serum (SRM) 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 Serum is to buy it from a reliable exchange.
Solana is a trusted blockchain with web-scale mechanism that can benefit traders, and with Serum as its extension, transactions can be managed and handled more effectively. Serum has its own automated decentralized orderbook that gives full control to traders concerning every order. As a result, Serum is more efficient and faster because of full Solana and Ethereum integration. In order to achieve seamless interoperability, users need to buy Serum (SRM) to get full access to the platform.