How to Buy Serum (SRM) Coin
What is Serum (SRM) Coin
Serum is a decentralized exchange (DEX) and an ecosystem that brings high speed and low transaction costs to decentralized finance (DeFi). It is permissionless and is built on the Solana blockchain.
Serum was created to eliminate the vulnerabilities in the current DeFi space that exist due to incomplete decentralization. It is claimed to be fully decentralized and runs on a non-custodial exchange with cross-chain trading support and no know your customer (KYC) requirements.
Solana is a web-scale blockchain that can reach 50,000 transactions per second. This is achieved through a verifiable delay function, known as SHA 265 hash chain, that enables optimistic concurrency control.
Serum is developed by the Serum Foundation, which is backed by a group of experts in cryptocurrency, trading and decentralized finance. The project also has backing from a wide number of firms.
- Serum is a decentralized derivatives exchange project that enables cross-chain trading.
- The project is a collaboration between FTX, a centralized derivatives trading platform, and Solana, a low-cost, interoperable blockchain featuring smart contracts.
- The Serum project will also feature SerumBTC and a SerumUSD stablecoin that will exist as SPL and ERC20 tokens, making it possible to offer physically settled cross-chain contracts.
- The Serum project is powered by the SRM governance token, which also provides discounts on trading on Serum, and is burnt with revenue earned from transactions on the network.
- 1 million SRM make up a MSRM, which is the amount needed to participate in operating a staking node that helps decentralize the network and offer support in transaction settlement validation.
How To Buy Serum (SRM) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Serum coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Srm coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a Serum (SRM) Coin
Serum (SRM) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.