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How to buy Komodo and how it works

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Your guide to buying and trading Komodo (KMD) in India

Komodo is an initial coin offering (ICO) platform designed to help developers launch transparent coin offerings. This decentralised platform allows each developer to set up an independent blockchain of their own, which they can then link to the Komodo ecosystem.

If a company wants to launch an ICO using Komodo’s infrastructure, it will need to pay a fee. This fee is payable in the Komodo ecosystem’s native token, the Komodo (KMD).

So, how does the platform work, what potential benefits does it offer and how can you buy KMD? Read on to find out.

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 can I buy Komodo?

You can buy KMD on a wide range of popular cryptocurrency exchanges, such as the following:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Bank transfer (ACH),PayPal,Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

66
cryptocurrencies

Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Bitbns Cryptocurrency Exchange
UPI,IMPS,NEFT,RTGS
INR, USD, AED, THB

77
cryptocurrencies

Bitbns lets you buy, sell and trade more than 70 cryptocurrencies, with 24/7 customer support.
Credit card,Cryptocurrency,Debit card,Osko,PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 23+ more

204
cryptocurrencies

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.
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Credit card,Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
CoinDCX Exchange
UPI,IMPS
INR

209
cryptocurrencies

A cryptocurrency exchange based in India which lists over 30+ trading pairs and supports INR.
Bittrex Digital Currency Exchange
Cryptocurrency,Wire transfer
USD

278
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE

234
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Indacoin Cryptocurrency Exchange
Credit card,Debit card
USD, EUR, RUB

158
cryptocurrencies

Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
ShapeShift Cryptocurrency Exchange
Cryptocurrency
-

51
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
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How to buy Komodo in India

To exchange fiat currency (in other words, INR) for KMD, you’ll need to register for an account with a local cryptocurrency exchange like Shapeshift.
NB: Most cryptocurrency exchanges do not allow you to exchange INR for KMD. On those exchanges, you’ll have to first purchase a major cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH) before exchanging it for KMD.

Which wallets can hold KMD?

KMD can be stored in a range of wallets, including the following:

  • Agama
  • Komodo CLI (Command Line Interface)
  • Komodo paper wallet
  • Ledger Nano S

Agama and Komodo CLI are desktop wallets, available to download for Windows and Mac OS. Agama is also available on Linux operating systems, while the Ledger Nano S is a hardware wallet.

How the Komodo platform works

You should never invest in any cryptocurrency without first understanding how it works. In order to understand Komodo tokens, you’ll first need to learn about the Komodo platform.

Komodo’s development history dates back to 2014, but it officially started in September 2016 when the genesis block was mined. This blockchain platform aims to offer entrepreneurs the tools they need to create a blockchain ecosystem.

The platform uses zero-knowledge proofs to provide private or transparent transactions (as required) and a delayed-proof-of-work (dPoW) protocol to ensure security via bitcoin’s blockchain. It offers the following products and services to new coin developers:

  • BarterDEX. This is a decentralised exchange and cryptocurrency market.
  • Jumblr. This is an open-source and decentralised cryptocurrency anonymiser.
  • Decentralised fiat currencies. These are cryptocurrencies that are pegged to a local, fiat currency.
  • Decentralised ICOs. These allow developers to use the Komodo platform to launch their own blockchain and crowdfund their ICO.

KMD is a private cryptocurrency used within the Komodo ecosystem. This infrastructure coin is required to use many of the features on the platform and can be used for private digital payments. For example, KMD is the base currency of the BarterDEX exchange, allowing it to be used as a gateway to other cryptocurrencies.

What to consider before buying KMD

If you’re considering buying KMD, you’ll need to take in a wide range of factors into account to decide whether it represents a sound investment including the following issues:

  • Coin availability. KMD has a total fixed supply of 200 million coins. In the Komodo ICO in 2016, 90 million of those coins were distributed to investors, with 10 million kept aside for future development and marketing.
  • Demand for KMD. The larger the user base of the Komodo ecosystem, the greater the demand for KMD. Increased demand obviously means increased value, so consider the real-world applications for Komodo to get an idea of how the level of demand could change in the future.
  • Competition. Make sure you’re aware of Komodo’s competitors and the threats they may pose to the value of KMD. For example, Ethereum is its biggest competitor in the ICO space, while Monero, Dash and Zcash are all noted competitors in the privacy coin sphere.
  • KMD rewards. Komodo has a built-in system that automatically rewards users for holding KMD. The annual reward rate is 5% annual percentage rate (APR) revenue.
  • Future developments. Komodo is part of the SuperNET project, a collaborative community of cryptocurrency developers that is working on several projects based on the Komodo platform. Stay abreast of future projects and developments to learn more about the potential real-world applications of KMD.

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