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How to buy Golem (GLM) in Canada
Learn how to buy Golem (GLM) on 18+ crypto exchanges in our step-by-step guide.
You can buy Golem (GLM) on a cryptocurrency exchange like Crypto.com. These specialised marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Golem (GNT) is specifically designed to facilitate the creation of a decentralised global supercomputer. Here's how to buy Golem.
How to buy Golem in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Golem is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – credit card, cryptocurrency, PayPal and transferwise payments are widely accepted.
You can now exchange your funds for Golem. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Golem to your personal wallet.
Where to buy Golem in Canada
Find an exchange to buy, sell and trade GLM by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Golem?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Canada to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Golem?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Golem.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing GLM with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Golem with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy GLM with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy GLM on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase GLM by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for GLM on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Golem?
The easiest way to buy GLM is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying GLM, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Golem has been performing recently.
Best Golem wallets to store your GLM
You can keep your GLM on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Golem a good investment?
If you are thinking of purchasing GLM, make sure to consider the following factors first:
- Use-case. There’s a fixed supply of 1 billion GLM in existence, providers and users can reach their own prices and trade fractions of a coin as needed, so the value of a token itself isn’t necessarily reflective of the service’s popularity. The entire supply of GLM tokens are already in circulation.
- Competition. Not only does Golem have to contend with blockchain-based competitors in the industry, but centralised businesses too. Major companies such as Amazon, Microsoft and Google are all either involved, or in the process of, distributing cloud-based services that utilise excess computing power.
- Migration. In 2020 Golem migrated to Ethereum’s layer-2 protocol for enhanced scalability and more secure transactions. Users were able to migrate their GNT (the original tokens) to the new ERC-20 GLM coins at a ratio of 1:1. Be wary of buying Golem tokens on the old standard – migrating these to the updated GLM tokens will set you back substantially due to the gas fees required.
Additional information about Golem can be found using our GLM analysis tools.
Today's Golem price versus ATH
Compare today's price of Golem ($0.266763 USD) against its all-time-high price of $2016-12-12T00:00:00.000Z USD on 01 January 1970. The closer the bar is to 100%, the closer GLM is to reaching its ATH again.
ATH date: December 12, 2016
Golem ATH: $1.32
How to trade, convert or sell GolemYou can convert or sell your GLM with the same exchange you bought it through:
- Sign in to the exchange you have GLM on.
- If you store your Golem in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of GLM you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Golem.
- Complete your transaction and move your GLM to a wallet for storage.
Disclaimer: Cryptocurrencies, including Golem, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of GLM is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Golem or any other cryptocurrency discussed.
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