In this guide you’ll get information about where to buy Streamr, if you are planning to buy DATA token – You’re in the right place!
Streamr is a platform focusing on data exchange in real time. The blockchain has worked together with several companies and projects to harness real time data. The platform’s concept was taken from the fact that our world today is driven by data. Real data is crucial for better developments of DApps as well as smart contracts. In this platform, users can publish events (to data streams), use it within decentralized apps, or subscribe to the streams. Within this network, (real-time) data can be traded and tokenized by users (as well as machines). With P2P concept, each party can interact directly. It eliminates the need of intermediary or third party, as well as improving privacy and security.
One example of Streamr case is electric cars with self driving mechanism. The vehicle requires data to improve features and functions, including in electric prices, weather forecasts, and traffic congestion. With Streamr, electric cars can get the needed (real-time) data. This data will then be exchanged with Streamr’s main currency, the DATACoins. Afterwards, the cars should be able to sell the (already used and analyzed) data to other systems – so they can improve efficiency too.
Streamr (DATA) Features
- DATACoin. This is the ERC-20 token being used to exchange data – especially between producers and consumers within Streamr network. The token will also serve as broker nodes’ incentive tool so they can run within P2P network.
- Various functions and uses of DATACoin. The token has various functions. First, it is for operating and maintaining P2P network by offering rewards to participants who provide computing power, communication bandwidth, electricity, and time to broker nodes. Then, it can also be used as currency. The last one is for reputation measurement. Those who contribute in the platform can get ‘karma’ for their efforts and work.
- Live data. Streamr is often compared to IOTA but they are absolutely different. Streamr is on Ethereum while IOTA is within their DAG own network. Because of this feature, Streamr has bigger developer community and significant resources. Streamr also focuses on live data that has major effects on operating system, especially on decentralized platform.
Where to Buy, Sell and Trade Streamr aka DATA
You can basically use debit card, credit card, or even PayPal to buy the Streamr (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Streamr 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 Streamr. 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 Streamr currency and exchange your Ethereum or Bitcoin with the Streamr
- Store your Streamr 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 Streamr, 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 Streamr:
IMPORTANT! Once you are registered to any of the above, find the BTC/DATA or ETH/DATA 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 Streamr (DATA) 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 Streamr (DATA) 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 Streamr. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Streamr (DATA) 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 Streamr (DATA) with Skrill?
You can’t buy DATA directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Streamr. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Streamr (DATA) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/DATA and begin the transactions.
Can I Buy Streamr (DATA) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/DATA trading pair.
What Is the Best Payment Method to Buy Streamr (DATA)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Streamr right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Streamr (DATA)?
Once you have purchased the Streamr, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Streamr (DATA)?
Find a crypto exchange which allow pairing DATA with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Streamr (DATA) 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 Streamr is to buy it from a reliable exchange.
Anyone in need of real-time data can join the platform. This has created a special market for data exchange, benefiting everyone. Data owners can get the incentives while buyers can move forward with their development. It takes special knowledge to buy Streamr (DATA) for those interested in taking part in the network.