How to Buy Kusama (KSM)
Looking to test your application or blockchain before deploying it to the Polkadot network? If yes, KSM, the crypto asset that powers Kusama, may be a compelling addition to your portfolio.
Intended to serve as a pre-production version of the Polkadot blockchain, Kusama aims to give developers increased flexibility while they finalize and test new technologies.
This means that, on Kusama, developers can build and deploy custom Polkadot blockchains while testing how they might work using the network’s governance and functionality.
Not sure yet why you’d want to buy KSM? Feel free to read our ‘What is Kusama?’ guide, which offers a more extensive breakdown of its technology and vision.
Ready to dive in?
If you just want to start investing in KSM right away, click the button below to begin.
Why buy KSM?
KSM tokens are essential for the use of the Kusama blockchain.
For example, users need to stake KSM to vote on potential upgrades to its network. In the process, these users also earn a percentage of new KSM tokens minted by the protocol.
You may also want to consider buying KSM if you want to:
- Create and launch new kinds of blockchains on Polkadot
- Diversify your long-term investment strategy
- Experiment with Polkadot’s governance system
- Invest in crypto assets that power interoperable blockchains
- Stake KSM to begin earning more cryptocurrency.
- Participate in the Kusama governance process
Where can I buy KSM?
There are a number of ways to buy KSM. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken.
Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your KSM, it can be challenging if not impossible to recover your funds.
At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.
How much KSM can I buy?
Looking to buy KSM on a budget? Don’t worry, Kraken offers a minimum order size of 0.1 KSM to help you gain exposure to a variety of assets.
Of course, you can also execute larger KSM buy orders as well. It wouldn’t be out of the ordinary for larger traders to purchase or trade 500 KSM or more on Kraken.
How to buy KSM on Kraken
Follow the steps below to start buying KSM on Kraken:
Sign up for a Kraken account.
First, enter a valid email address, create a new username and set a strong password to protect your account.
Verify your account.
After providing your name, date of birth, country of residence and phone number, you can buy KSM with cryptocurrencies like DOT and EOS. In order to use fiat currency (i.e. USD or EUR), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.
Deposit fiat currency.
You can fund your account in a number of ways. How you do so will depend upon your location and preferences.
Once your account is funded with fiat, you’re ready to purchase KSM. At this point, you’ll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize margin trading, features that help make the Kraken experience beloved by millions of global traders.
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying KSM, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
Where to keep your KSM
Once you buy KSM, you’ll need somewhere to safely store your cryptocurrency.
Kraken is secure, but it’s always safest to store your KSM in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.
There are many types of KSM wallets. Mobile and web wallets can make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage.
Kraken is not a wallet service
It is important to note that Kraken is an exchange service and not a wallet service. So while we allow our clients to hold KSM in their accounts, we highly encourage you to separate your KSM holdings into multiple wallets.
Start buying KSM
Ready to take the next step toward testing new Polkadot creations? Click the button below to buy KSM on Kraken today!