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How to buy Golem

Here’s the latest in decentralised computing power on demand from Golem.

Golem (GNT) is specifically designed to facilitate the creation of a decentralised global supercomputer, with the goal of letting anyone securely buy and sell excess computing power with GNT tokens.

Blockchain technology has allowed for a new generation of cloud computing, and Golem aims to facilitate it.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy Golem (GNT) in India

Name Product Deposit methods Fiat Currencies Cryptocurrencies
WazirX Cryptocurrency Exchange
WazirX Cryptocurrency Exchange
Cryptocurrency, UPI, IMPS, NEFT, RTGS
INR

90
cryptocurrencies

Enjoy fast verification and high speed trading on this well-known Indian cryptocurrency exchange.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

824
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

153
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

315
cryptocurrencies

Promo: New users earn up to USD 100 in bonus rewards on qualified deposits and trades. Valid till 31 December 2021. T&Cs apply.
Finder Exclusive: Get 10% discount on your fees when signing up through Finder.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

280
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

168
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
CoinSwitch Cryptocurrency Exchange
Credit card
USD, JPY, RUB, EUR

386
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
OKEx Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

272
cryptocurrencies

Promo: Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply.
Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

168
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

228
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bithumb Cryptocurrency Exchange
Cryptocurrency
KRW

195
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
CoinDCX Exchange
Bank transfer (ACH)
INR

209
cryptocurrencies

A cryptocurrency exchange based in India which lists over 30+ trading pairs and supports INR.
BuyUcoin Cryptocurrency Exchange
Bank transfer
INR

86
cryptocurrencies

Based in India, BuyUcoin is an exchange platform that enables users to buy and sell cryptocurrency with INR.
ShapeShift Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Banxa
-

50
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
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Compare up to 4 providers

Which wallets support Golem?

Golem GNT is supported by Exodus, Jaxx and other wallets. Choose whichever supporting wallet you like best.

How does Golem work and what can it be used for?

Golem aims to become a global decentralised supercomputer network, with people all around the world using GNT tokens to tap into it.

Users choose what kind of task they have with the Golem task definition framework in order to get matched with the most suitable provider. Providers can decide how many CPU cores, and how much RAM and disk space they want to rent to the Golem network.

The purpose of the system is to allow for seamless connections between users and providers. An automated node reputation system is used to prioritise and benefit the providers that are categorized as high quality.

In a world of increasingly demanding applications, and projects that call for a lot of computing power, Golem presents itself as offering limitless potential.

Applications include:

  • Computer graphics. Golem describes itself as offering a much quicker and more cost-effective way of rendering CGI – and of otherwise boosting computer graphical power.
  • Machine learning. As we move into the age of AI and machine learning, a lot of processing power will be needed to facilitate it efficiently.
  • Cryptography and mining. Golem states that it will be able to facilitate encryption, decryption and cryptocurrency mining.
  • Supercomputer analysis. Businesses, researchers and others can potentially access a huge amount of additional computing power on demand.
  • Decentralised on-demand web hosting. Golem maintains that businesses will be able to scale up quickly to meet demand for processing power and bandwidth.
  • Decentralised microservices.Golem presents this as a feature that should not be underestimated. It explains that it can run countless decentralised and cost-effective microservices while bringing its other advantages to bear, and it aims to disrupt a lot of established service providers.

Features of Golem

While cloud computing isn’t brand new, blockchain technology has provided a new way to deploy it and Golem lists the following features:

  • Decentralised. Golem claims there’s no single point of failure, with users around the world all supporting the Golem network.
  • Secure. All computations on the Golem network take place inside an isolated virtual machine, with the goal of offering near-complete security for all providers and users.
  • Cost-effective. Very few computers use all their power all the time. By providing a monetisation strategy for excess computing power, Golem wants to attract a lot of providers all over the world, and offers a highly competitive marketplace for users.
  • Flexible. Developers can create, deploy and monetise their own apps through Golem. It expects to greatly expand its potential applications over time.

What should be considered before buying Golem GNT?

Buying any cryptocurrency has to be approached with caution, and you should consider whether Golem is a safe investment by cryptocurrency standards. For example, one obstacle might be that Golem is still in a fairly early stage of development.

It’s worth noting that if all goes to plan, GNT is likely to enjoy a relatively high price floor. If the value of GNT drops too low, buying it to spend on cryptocurrency mining power will basically be free money.

Another discussion point is that, since there’s a fixed supply of 1 billion GNT 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 doesn’t really have any price ceiling.

Instead, the price ceiling is found on the Golem network’s providers (the ones renting out their computing power). They’ll need to set competitive prices in order to get users coming to Golem rather than established cloud computing brands.

To provide some perspective, it’s worth noting that the Golem market cap topped $400 million on 18 December 2017, while the total cloud computing market is well into the billions. Buyers should consider how much room Golem has to grow as it rolls out new features, and the extent to which it will disrupt incumbents.

Golem will be adding new functions and options over time, but it might be years before it can fulfill its potential, and become widely used by established industries that have traditionally turned to cloud computing instead.

A lot can happen in the meantime, and it’s possible that Golem itself will be disrupted before then. For example, a recent initiaI coin offering (ICO) raised over US$100 million for the development of a blockchain smartphone and PC, designed for built-in Golem-like functionality. These types of advances might undermine Golem in the future.

There’s also the question of steps that might be taken by established cloud computing providers. Like most cryptocurrencies, Golem is open source. There’s little to stop an established cloud computing provider from using the code for itself, in order to bring the benefits of Golem (such as the task definition framework) to its existing services. Or, other providers might simply start selling their own services directly through Golem and accumulating tokens themselves.

Blockchain technology has a huge amount of potential for decentralised computing, and right now Golem is positioning itself to disrupt the industry. However, it’s still in its early days and a lot can happen in a few years.

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.

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