Home » Invest » Invest in Cryptocurrency » Buy Golem Network Token

How to Buy Golem in 2020: Buy, Sell & Trade

Golem is a fascinating cryptocurrency to invest in. It is primarily used to pay for access to the Golem network. This guide shows you how to buy Golem (GNT) and how to trade it in 2020. 

Where to buy Golem

Read on to find out more about GNT and how it works or skip ahead to our step-by-step buyers guide if you’re up to speed and ready to buy Golem.

Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
1€
Russian Federation
Start Trading View key features
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
  • BTC
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Bitpanda
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Min Deposit
1€
Russian Federation
Start Trading View key features
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Top Coins
Payment Methods
Visa, Mastercard, Neteller, Skrill, Sofort, Giropay, EPS, Credit Card
BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.
Coinbase
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Min Deposit
2€
Russian Federation
Start Trading View key features
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Top Coins
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.
Coinmama
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Min Deposit
50€
Russian Federation
Start Trading View key features
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Top Coins
  • BTC
Payment Methods
Credit Card
Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.
eToro
Key Features
Access the world’s most popular Crypto assets including Bitcoin, ETH, LTC, XRP
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available
Min Deposit
200€
Russian Federation
Start Trading View key features
Key Features
Access the world’s most popular Crypto assets including Bitcoin, ETH, LTC, XRP
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available
Top Coins
  • ADA
  • BTC
  • XLM
  • XRP
  • LTC
Payment Methods
Credit Card, Debit Card, Wire Transfer, PayPal, Skrill, Neteller, Yandex, WebMoney, UnionPay, MoneyGram
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities. eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
eToro is a multi-asset platform which offers CFD and non CFD products. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What is Golem?

Golem is a decentralised cloud-based supercomputer that offers incredible processing power to users. The processing power comes from all the computers in the Golem network and can be rented by users to help with, and speed up tasks that a typical computer or laptop might struggle with on its own such as CGI rendering, DNA exploration or natural language processing. 

Launched in 2016, golem quickly became a top-ten cryptocurrency by market cap. These days, it’s not looking quite as rosy, but the Golem team have improved tech support and community outreach, so it’s still one to watch. 

How does Golem work?

According to their website, ‘Golem is a global open-source decentralised supercomputer that anyone can access’. The way it works is by utilising the combined processing power of the machines in the network. 

The Golem cryptocurrency GNT is an Ethereum token that was developed so users could pay for or receive payment for use of the Golem network. 

How to buy Golem GNT online – step-by-step guide

Step 1. Get a suitable wallet

As you would expect, there are lots of wallets that are compatible with Golem GNT. We have had a look around and selected a few of our favourites to save you some time. Please note, the following wallets are not decentralised:

  • Ledger Nano X: This hardware wallet is Bluetooth enabled and uses state-of-the-art security to keep your private keys safe. The Ledger Nano X isn’t the cheapest wallet out there, but it’s secure, reliable and compatible with GNT and many other coins.  
  • Coinomi Wallet: The Coinomi wallet is easy to set up and use and is compatible with over 1770 blockchain assets, and with mobile and desktop covered, this highly versatile wallet is a firm favourite among traders when it comes to storing GNT.
  • Trust Wallet: As mobile-only wallets go, the Trust Wallet is up there as one of our top picks when it comes to anything Ethereum. It has a very clean and easy to use interface and is compatible with Android and iOS.   

Step 2. Find a Golem exchange

As Golem GNT is getting more attention, it’s becoming easier to find great exchanges that offer GNT for a fair price – your only issue is where to start. It’s important to have a look around yourself, but to get you started we’ve picked out some of the more popular GNT exchanges: 

Bittrex: Based in the US, Bittrex Global is one of the bigger crypto-to-crypto exchanges. It’s reliable and covers most currencies including GNT. They don’t accept fiat money, so you’ll need to buy GNT using BitCoin.

Poloniex: Another US-based exchange, Poloniex has some advanced trading features that are ideal for anyone who has been in the game a while.

Exrates: Low fees, a clean interface and an android and iOS compatible app make Exrates another great place to source your GNT. 

Step 3. Withdraw your Golem GNT

While the exchanges have ramped up their security in recent times, we always recommend withdrawing your digital assets as soon as you buy Golem as it’s much safer to store cryptocurrency in a wallet.  

How to trade Golem GNT – step-by-step guide

If you’re looking to trade rather than buy Golem, you might not want to bother with a wallet as you won’t be acquiring funds, instead, you’ll be speculating on the value of your chosen cryptocurrency and predicting whether it will go up or down over a given period of time.  

Step 1. Find a broker

The best way to start trading cryptocurrency is to find a broker. There are a few out there, but it’s a good idea to do some research online before jumping in. You can also set up a demo account before you start trading to get a feel for how everything works. 

Step 2. Deposit money

Once you’ve chosen a reputable broker like Plus500 or eToro and you’re ready to start trading, you’ll need to make a deposit. Most brokers have a minimum deposit requirement of around 100 – 200 USD. 

Step 3. Decide how you’d like to trade

After you’ve deposited some cash, it’s time to decide how you want to trade. There are two main ways you can do this: Spread Betting and CFDs, and while they’re not world’s apart, there are some significant differences between the two methods, so if you’re a beginner or need a refresher, it’s worth looking at those differences in a bit more detail. 

Step 4. Start trading 

Setting up a demo account is the best way to introduce yourself to the world of trading and the platform you’ve chosen, and when you’re ready, it’s easy to open a live account. However, If you’ve spent any time watching the fluctuating price of cryptocurrencies, you’ll have seen they can be highly volatile, meaning you can make and lose money very quickly. 

To start trading, you need to decide how you think the price of your chosen cryptocurrency will change and either take a long (buy) or short (sell) position depending on whether you expect the value to rise or fall.

Still undecided?

Pros
  • You can earn GNT by renting out your computer
  • The practicality of the Golem network can’t be argued with
  • Gaining the support of more exchanges and wallet providers
Cons
  • There are several similar projects and competitors to Golem
  • It’s a low-value coin that has been volatile in the past
  • Investors have been disappointed by GNTs performance
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.
Invezz uses cookies to provide you with a great user experience. By using Invezz, you accept our privacy policy.