How to Buy Golem
Golem is a global, decentralized supercomputer. It combines the use of computing power of every device that is on the Golem network, which allows users to rent out the extra resources on their computers to others who need more power to complete more advanced tasks and computations.
The Golem ecosystem is similar to the shared economy of Uber and Lyft. It’s a valid way to earn extra income by renting out resources that users aren’t using. For those who need more computer power, they can access it on the Golem network so they can speed up their tasks at an affordable price.
What is Golem
The Golem Network is a peer-to-peer computing power marketplace. Users can rent out unused computing space to others who need more computing power to complete complex tasks. Those who rent out their unused computing space receive a payment from those who rent the computing space from them. Payments are made with Golem cryptocurrecy.
The premise is simple: users who have excess computing space that they aren’t using can earn a profit by allowing others to rent their GPU/CPU cycles. These resources, which would have otherwise been unused by the user who possesses them, can be monetized with the Golem decentralized network.
Golem is a decentralized platform that is used for conducting computing tasks via a large cloud of computers. Users upload the computing tasks that need to be completed to the Golem network. The task is then spread out between the computers on the Golem network. Users on the platform who require computing tasks are referred to as ‘requesters’, while those who provide devices that can be used to complete tasks are known as ‘providers’.
Requesters pay providers a fee in exchange for computing space. This fee is paid in the form of GNT (the Golem Network digital tokens). GNT uses Ethereum Smart Contracts to providers on the network. Smart Contracts calculates and sends out funds that a device earns for executing a task.
A multi-agent system is used to complete transactions on the Golem network. This system matches requesters with the appropriate providers. Requesters use a “Task Definition Framework” to indicate the tasks they need to complete.
The Golem Network also features an Application Registry. This registry enables users on the Golem network to develop and release applications. These applications can be created for free or for a profit. Additionally, applications can be used to finalize micropayments.
Where to Buy Golem
There are multiple cryptocurrency exchanges where Golem can be purchased, including:
How to Buy GOLEM
In order to purchase GNT tokens, you first need to purchase ETH. Once you purchase ETH, you can then exchange it for GNT. For this example, we will explain how to purchase ETH on Coinbase, one of the most popular cryptocurrency exchanges.
Use the link here or click the image above to get $10 in Bitcoin when you purchase or sell your first $100.Register on Coinbase
Step 1: Create a Coinbase account
Select the “sign up” tab and complete the form by entering the requested information, including:
- Your name (exactly as it appears on your photo identification)
- Email address
Step 2: Verify your account
- Issue your phone number
- Upload an image of your photo ID
- Verify your credit or debit card, or your bank account information
Step 3: Select the “Buy/Sell” option on the menu, once our account is verified
After verification, select the “Buy/Sell” option on the menu
- Choose “Ethereum”
- Input how much you would like to purchase
- Select the “Buy” button
Step 4: Confirm your purchase
- Select the “Confirm Buy” button
Step 5: Open an account on an exchange that accepts Golem
For the purposes of this example, we are going to use the Binance exchangeRegister on Binance
Step 6: Register your Binance account
- Enter your email address and a strong password
- Select “Register”
- You’ll receive an email to confirm your account
Step 7: Login to your Binance account
Step 8: Transfer ETH from Coinbase to Binance
- Under the “Wallet” tab, select “Deposits”
- Copy the ETH deposit address you are provided with
- Log back into Coinbase
- Select “Accounts”
- Click “Send”
- Enter your ETH deposit address
- Input the amount of ETH you want to transfer
- Select “Continue”
Step 9: Exchange ETH for Golem Coins
- When your ETH has arrived in your Binance account, you can exchange it for GNT tokens
- Select ETH currency
- Search for GNT in the search box and select it
Select whether you want to “Limit” order (you can choose the amount of GNT you want to purchase) or “Market” buy, which will autofill your order at the best price
Step 10: Select the “Buy” button
- Once you have chosen the amount of GNT you would like to purchase, select the “Buy button”
- Your GNT order will be immediately filled; your ETH will be transferred into GNT
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Why Buy Golem
The primary benefit of purchasing GNT (the Golem Network currency) is that is truly revolutionary. No other decentralized system like the Golem Network exists. Because of the value it offers its users, and because of the projected increase in the GNT cryptocurrency, it proves to be a beneficial investment.
While it is still in its developmental stages, GNT is projected to offer significant value once the Golem platform becomes completely functional.
How to Sell Golem
Selling Golem is similar to selling any other type of cryptocurrency. To do so, follow these steps:
- Create an account on the altcoin exchange
- Fund your altcoin account with GNT
- Sell your GNT for another type of cryptocurrency, such as BTC or ETH
- Sell your BTC, ETH, or any other cryptocurrency you have purchased with GNT for a fiat currency
- Withdraw the fiat currency you have purchased with your GNT from your altcoin exchange account to your bank account
Which Wallets Can I Use for Golem?
There are several wallets that can be used for Golem. Some of the most highly recommended wallets include:
- My Ether Wallet
- Ledger Nano S
- Coinomi Wallet
- Trust Wallet
- Jaxx Wallet
- Atomic Wallet
The distributed computer and computing power marketplace known as the Golem Network has been available since 2016. Currently, the GNT coin is regarded as one of the top 10 crypto coins on the market; however, as with all forms of cryptocurrency, it does experience ebbs and flows. The Golem Network does continue to make improvements. These improvements are projected to bring positive growth for Golem cryptocurrency.
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