Golem (GLM) is the 166th largest cryptocurrency by market cap, valued at US$448,740,516.
Golem is a highly volatile asset capable of major price swings in a single day. Today GLM is trading for $0.448077 USD, which is higher than yesterday's trading price of $0.4445523666 USD. Over the past year, Golem's price has seen an increase of 95%.
So before you buy Golem, make sure you understand these unique risks as well as its legal and tax status here in
Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy Golem.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy Golem in 5 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 exchanges
The easiest way to buy Golem 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 account
To 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 deposit
Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Golem
You can now exchange your funds for Golem. On beginner-friendly exchanges, this is as simple as entering the AUD or GLM amount you want to purchase and clicking "buy".
Secure your Golem
Consider transferring your GLM to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy Golem in
Australia
Find an exchange to buy, sell and trade GLM by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this Golem guide up-to-date
GLM price data is regularly updated through data feeds so you always have the latest information.
What is Golem?
Golem (GNT) is specifically designed to facilitate the creation of a decentralised global supercomputer. It aims to let anyone securely buy and sell excess computing power with the network's native GNT tokens.
Users choose what kind of task they have with the Golem task definition framework 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 system's purpose is to allow for seamless connections between users and providers. An automated node reputation system is used to prioritise and benefit the providers categorised as high quality.
The use of cloud-based distribution of computer power applies to a huge range of industries, including AI development, cryptography, web hosting, data analysis, graphics rendering and much more.
How do I find the best places to buy Golem?
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
Australia 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 Golem?
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 Golem.
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 GLM 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 Golem?
Once you've created an account, you will need to deposit funds to buy GLM 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 buy GLM:
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 GLM by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for GLM on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Golem?
The easiest way to buy GLM 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.
Before buying GLM, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Golem has been performing recently.
Best Golem wallets to store your GLM
You can keep your GLM 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 GLM below.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Golem a good investment?
If you are thinking of purchasing GLM, make sure to consider the following factors first:
Use-case. There's a fixed supply of 1 billion GLM 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 isn't necessarily reflective of the service's popularity. The entire supply of GLM tokens are already in circulation.
Competition. Not only does Golem have to contend with blockchain-based competitors in the industry, but centralised businesses too. Major companies such as Amazon, Microsoft and Google are all either involved, or in the process of, distributing cloud-based services that utilise excess computing power.
Migration. In 2020 Golem migrated to Ethereum's layer-2 protocol for enhanced scalability and more secure transactions. Users were able to migrate their GNT (the original tokens) to the new ERC-20 GLM coins at a ratio of 1:1. Be wary of buying Golem tokens on the old standard - migrating these to the updated GLM tokens will set you back substantially due to the gas fees required.
Today's Golem price versus ATH
Compare today's price of Golem ($0.448077 USD) against its all-time-high price of $1.32 USD on 13 April 2018. The closer the bar is to 100%, the closer GLM is to reaching its ATH again.
Golem's price: $0.448077 USD ATH date: April 13, 2018
33.95%
Golem ATH: $1.32 USD
How to trade, convert or sell Golem
You can convert or sell your GLM with the same exchange you bought it through:
Disclaimer: Cryptocurrencies, including Golem, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of GLM 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 Golem or any other cryptocurrency discussed.
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