How to Buy Kusama (KSM)

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. 

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.

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.

Follow the steps below to start buying KSM on Kraken: 

1. 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.

2. 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.

3. Deposit fiat currency.
   You can fund your account in a number of ways. How you do so will depend upon your location and preferences.

4. Purchase KSM!
   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.

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. 

Ready to take the next step toward testing new Polkadot creations? Click the button below to buy KSM on Kraken today!