How to buy Swarm (BZZ) in the UK

Learn how to buy Swarm (BZZ) in our step-by-step guide.

Where to buy Swarm in the UK

It looks like BZZ may not be available to purchase on an exchange in the UK.

You can still purchase BZZ by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

Decentralised exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralised exchanges first if you're unfamiliar.

How to purchase BZZ using a decentralised exchange.
  1. Find BZZ on a decentralised exchange and make sure Swarm can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
  2. Buy ETH to trade for BZZ using an exchange like CoinJar. You will need to purchase enough ETH to swap for BZZ as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
  3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade ETH for BZZ on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
  5. Wait for the transaction to finalise and the BZZ tokens will arrive in your wallet.
  6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the UK.

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.

Ledger Nano X Wallet

Trezor Model T Wallet

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Supported assets

5,500+

Supported assets

1,317+

Price (USD)

$149

Price (USD)

$186

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

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 ($0.357807 USD) against its all-time-high price of $21.11 USD on 22 June 2021. The closer the bar is to 100%, the closer BZZ is to reaching its ATH again.

Swarm's price: $0.357807
ATH date: June 22, 2021
1.69%

Swarm ATH: $21.11


How to trade, convert or sell Swarm

You can convert or sell your BZZ with the same exchange you bought it through:
  1. Sign in to the exchange you have BZZ on.
  2. If you store your Swarm in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of BZZ you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Swarm.
  6. Complete your transaction and move your BZZ to a wallet for storage.

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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