If you have any interest to buy Swarm (BZZ), you will be required to have either Bitcoin abbreviated as (BTC) or Ethereum (ETH) for trading purposes. I have reviewed the major cryptocurrency exchange Binance in this post to help you determine the best sites to buy cryptocurrency using a credit card or bank account. Take a read and get tips on the best cryptocurrency trading.
Step 1: How to create a Binance account:
1.1 Visit Binance’s Website (https://www.binance.com/en)
1.2 Fill in your trading details
1.3 Allow 2FA-Two-factor authentication (Optional)
Step 2: Buying your first Bitcoin (BTC)
I highly recommend buying Bitcoin first and then trading it for the right amount of Swarm (BZZ).
Step 3: Transferring Your Cryptos to an Altcoin Exchange Gateio
Now let me show you how to purchase Swarm (BZZ) using your investment from Binance.
But, not every crypto be traded in Binance we need to transfer our coins to an exchange that Swarm (BZZ) can be traded.
So, let me guide you to gate.io which is a famous exchange to trade altcoins. Use the link below to register your new account.
If you have completed similar processes as we’ve done before with Binance we are ready to transfer our Bitcoins.
Step 4: Depositng BTC to Exchange
After you have created your trading account setup at one of the exchanges that trades Swarm (BZZ), you will need to transfer your BTC from Binance to that specific exchange.
You have to do this using a wallet system. Then, deposit BTC to gateio Click “Deposit” from the top right menu. You need to look for the search box, type “BTC” and click deposit button and copy the given “Deposit Address”.
The process may be difficult but don’t worry, it is easier than a bank transfer. Once you copy your unique BTC wallet address go back to Binance.
Then, move your cursor to “Wallet” on the right hand side of the topbar and once the popup shows up, click on “Fiat and Spot (Deposit & Withdrawal)”.
Look for BTC in the list and click on “Withdraw” on the right hand side. Then, paste the deposit address you just copied from the other exchange and select BTC as the transfer network.
Next, type the amount that you want to withdraw (you may click the Max button if you want to withdraw all). Then, you click on the Submit button to begin with the withdrawal process.
To continue with the withdrawal, Binance may ask you for your 2FA code and also you will have to confirm the withdrawal with an e-mail.
That is all you need to do, now you should wait for a few seconds so that the blockchain to confirm your transaction.
Step 5: Trading Swarm (BZZ)
Now, you need to go back to Bitmax to buy Swarm (BZZ) with the Bitcoins you sent.
Then move your mouse over to trading and then click standard under cash trading. Next, in the left column make sure to select “BTC” pair and in the search bar type in “BZZ”.
After you have moved your coin click on it and now you will see a price table of BZZ/BTC in the middle of the page. Select the “Market” tab as that is the easiest way of buying orders.
Or you can either choose to type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons.
Once you have confirmed everything, click “Buy BZZ”. Now you own your BZZ!
Other Exchanges to Buy Cryptos
The following are other sites you can buy from these exchanges:
HotBit (Which permits US investors)
MXC (This exchange allows US investors)
On top of the above-listed exchanges, there are some more common crypto exchanges where daily trading volumes and a huge user base is available. This helps to ensure that you can sell your coins any time you want and the charges for the trading are not high. It is recommended that you should also register on these exchanges because whenever Swarm gets listed there it give the traders who have already registered a large amount of trading volumes, that means you will be provided with some great trading opportunities!
Final Step: How to Store Swarm securely in hardware wallets
1. Ledger Nano S
- Easy to set up and has a friendly trading interface.
- Allows use on desktops and laptops
- Lightweight and Portable too
- Has been designed to Support most blockchains and a wide range of (ERC-20) tokens
- Has many trading languages.
- Designed by a well-established company found in 2014 with great chip security
- It is not expensive but can be acquired at affordable price
2. Ledger Nano X
- It made with a more advanced and secure element chip (ST33) than Ledger Nano S
- Also Lightweight and Portable and has a built-in rechargeable battery
- Has a Larger screen
- Comes with more storage space compared toLedger Nano S
- It supports most blockchains and wide range of (ERC-20) tokens
- Provides several languages for every customer
- It was designed by a famous company found in 2014 with great chip security
- Can be obtained at an affordable price
If you still have plans to stay at hodl” as some people call it, basically misspelt “hold” (which become famous as time passes) your Swarm for some long time, you need to find ways to ensure it stays safe safe,
Frequently Asked Questions
Is it possible to buy Swarm with cash?
The answer is No. Because there is no way you can directly buy Swarm with cash. But, using marketplaces such as LocalBitcoins to first buy Bitcoin, and completethe rest of the steps by transferring your bitcoin to respective AltCoin exchanges.
How do I Buy Bitcoin from local sellers?
What are the quickest ways I can buy Swarm while living in Europe?
Can I use alternative platforms to purchase Swarm or Bitcoin with credit cards?
Swarm is a decentralised storage and communication system for a sovereign digital society.
The system is economically self-sustaining due to a built-in incentive system enforced through smart contracts on the Ethereum blockchain. Users remain sovereign owners of their personal data in alignment with fair data principles. The architecture makes the system resilient to connectivity issues, node churn, or targeted DDOS attacks, and enables a zero-downtime service.
Swarm exists so the internet can again be decentralised.
Swarm’s longer term vision is to become the operating system of the re-decentralised internet. It provides a scalable and self-sustaining infrastructure for a supply-chain economy of data.
Unstoppable features for unstoppable dApps: Privacy preservation, communication and redundancy are built in to ensure availability and continued data delivery even when individual nodes go offline. Any data, any device. On demand.
Radical data ownership and management: Data is split up into small chunks that are stored throughout the network without vulnerable central hubs. Operators cannot know what content is stored on their nodes while still being paid for storing.
Enabling zero-cost economics: No central party controls the data or can monetize it. Instead of relying on intermediaries to ensure the availability and integrity of data, all node operators participate in enabling a fair data economy.
Shifting the cost of access, hosting and execution to users removes the last obstacle to truly agile and adaptive application development to make web3 a reality.