How to buy Kusama | Buy KSM in 3 steps | Finder

How to buy Kusama (KSM)

A beginner's guide to buying and selling KSM in Australia.

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How to buy Kusama

Look for an exchange that supports both fiat and cryptocurrency to simplify buying Kusama.

  1. Open an account on an exchange that supports KSM.
    Most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Kusama.
  3. Buy Kusama.
    Complete your Kusama purchase and then find the best wallet to store KSM.
Disclaimer: This information is not advice to buy cryptocurrency, a recommendation for Kusama or an endorsement of any particular provider or service. Talk with a financial professional before any investment or purchase.

What is Kusama?

In the words of the development team, "Kusama is an early, unaudited and unrefined release of Polkadot." It's basically a live version of a test network for Polkadot, where parachains, dapps and staking can be done for a fraction of what it would cost to do on Polkadot. Features intended for Polkadot are first rolled out on Kusama, which has made it appealing to some as an experimental economy that may continue to hold value over time. The KSM token is used for staking on the network, which allows stakers to launch Validator or Nominator nodes – these are used to secure the parachains and the Kusama relay chain respectively. In return for staking, users are rewarded with additional KSM tokens. Tokens may also be used for governance and voting on upgrades to the protocol.

Kusama (KSM) is the 45th largest cryptocurrency in the world by market cap, valued at $4,248,668,936. The current price of Kusama is $473.121, which is 4.185% higher than yesterday. Prices have ranged between $489.492 and $439.368 over the past 24 hours. All prices are listed in AUD and accurate as of 22 April, 2021 11:04 UTC.

Where to buy Kusama

Find an exchange to buy, sell and trade KSM by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

288
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

257
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange Australia
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

261
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

250
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
KuCoin Cryptocurrency Exchange
Cryptocurrency, Interac e-Transfer, PayPal, Wire transfer, Credit or Debit Card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

211
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

219
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
Cryptocurrency, Epay
USD

512
cryptocurrencies

A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
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Compare up to 4 providers

Kusama at a glance

Information last updated 22 April, 2021 11:04 UTC.
Coin symbol KSM
Total KSM supply 10,000,000
Circulating KSM 8,980,098
Current price AUD$473.121
All time high AUD$733.048

Kusama price performance over time

Historical prices compared with the price of AUD$473.12.

1 hour 1.73%
24 hours 4.19%
7 days -19.52%
14 days -14.74%
30 days -16.61%
60 days 62.37%
200 days 1,031.49%
1 year 11,070.10%

How to sell Kusama

You can cash out your KSM with the same exchange you bought it through:

  1. Sign in to the exchange you have KSM on.
    If you store your Kusama in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of KSM you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Kusama.

What to consider when buying Kusama

Kusama is an experimental test ground for features intended for the Polkadot blockchain network. Make sure you fully understand the risks before using Kusama or buying the token.

  • Experimental: Kusama the "Canary" network for Polkadot, meaning it is used to test features and discover vulnerabilities in code changes, dapps and economics before they are migrated to Polkadot. As such, any dapps or DeFi services on Kusama are likely to carry a lot more risk than those on Polkadot or any other base-layer network.
    • Tokenomics: The token is used for network payments, setting up new parachains and is staked to validate the network. The total supply of tokens is 10 million, with roughly 90% of the supply in circulation at the time of writing (March 2021). New tokens are awarded for validating the network.
    • Competitors: Kusama is the test network for Polkadot, which makes the two complementary but also competitors. One of the advantages the test network has over Polkadot is that it is cheaper to deploy dapps and set up new parachains. Polkadot on the other hand is a lot more secure and expensive due to its strict requirements for protocol upgrades and staking requirements.
    Comparison between Polkadot and Kusama.

    A comparison of the benefits and use-case of each network. Source: Polkadot Network


    Disclaimer: Cryptocurrencies, including Kusama, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of KSM 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 Kusama or any other cryptocurrency discussed.

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