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How to buy Swarm (BZZ)
Learn how to buy Swarm (BZZ) in our step-by-step guide.
Swarm (BZZ) is in the top 1,000 cryptocurrencies by market cap, valued at $23,428,696.
Swarm is a highly volatile asset capable of major price swings in a single day. Today BZZ is trading for $0.373197, which is slightly down from yesterday's trading price of $0.373749439. Swarm's seen a decrease of -37% over the past year.
So before you buy Swarm, make sure you understand these unique risks as well as its legal, regulatory and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions and a list of platforms you can buy Swarm.
How to buy Swarm in 4 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 exchangesThe easiest way to buy Swarm 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 accountTo 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 depositOnce verified, you can deposit USD using the payment method that best suits you – cryptocurrency, card and bank payments are widely accepted.
Buy SwarmYou can now exchange your funds for Swarm. 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 Swarm to your personal wallet.
Where to buy Swarm
Find an exchange to buy, sell and trade BZZ by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How we keep this Swarm guide up-to-date
- BZZ price data is regularly updated through data feeds so you always have the latest information.
- Swarm performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.
How do I find the best places to buy Swarm?
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 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 Swarm?
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 Swarm.
- 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 BZZ 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.
What are the best ways to buy Swarm?
Once you've created an account, you will need to deposit funds to buy BZZ with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to to buy BZZ:
- 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 BZZ by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for BZZ on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Swarm?
The easiest way to buy BZZ 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.
Best Swarm wallets to store your BZZ
You can keep your BZZ 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 take a look at some of our top hardware wallet picks for self-custody of your BZZ below.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Is Swarm a good investment?
Cryptocurrencies are highly speculative assets that come with a range of risks. As a result, all altcoins should be thoroughly researched before any investment is made. Potential investors of BZZ may want to consider the following:
- Use case: BZZ is primarily used to compensate the providers, or node operators, by those wishing to use the services offered by Swarm. Node operators that provide more bandwidth and storage while delivering popular chunks at fast speeds (files uploaded to Swarm are divided into 4 KB chunks) receive more traffic and, therefore, more rewards.
- Token supply: BZZ’s token supply is not fixed and can change at any time. However, the token is neither inflationary nor deflationary. According to the protocol’s native bonding curve, if the token supply increases, so does the price of the token. If the token supply decreases, the price of the token also decreases. This removes both inflationary and deflationary effects of changes to supply.
- Security features: The Swarm network has developed a built-in redundancy feature that ensures constant data availability and protects against nodes suddenly withdrawing from the network. The network is also protected from DDOS attacks. The implementation of security features such as these may help businesses and individuals utilise Swarm’s services.
- Competition: There are several other distributed file networks within the cryptocurrency industry. Swarm will need to compete with projects such as Filecoin and Arweave to capture market share. Those interested in the potential of Swarm and the native BZZ token should consider how the project compares with the competition.
Today's Swarm price versus ATH
Compare today's price of Swarm ($0.373197 USD) against its all-time high (ATH) price of $21.11 on June 22, 2021. The closer the bar is to 100%, the closer BZZ is to reaching its ATH again.
How do I trade, convert or sell Swarm?You can convert or sell your BZZ with the same exchange you bought it through:
- Sign in to the exchange you have BZZ on.
- If you store your Swarm 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 BZZ you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Swarm.
- Complete your transaction and move your BZZ to a wallet for storage.
How to buy other cryptos
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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