How to Buy Golem

Contents

1 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:

Binance
com
Exrates
UPbit
Bittrex
HitBTI
CoinEx
Vebitcoin
OKEx
VinDAX
Coinbase
Bitmart

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.

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
Password
Location

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

Buy Bitcoin on Coinbase with Credit Card

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 exchange

Step 6: Register your Binance account

Enter your email address and a strong password
Agree to the terms of use
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

Exchange Ethereum for Golem 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
Mist
Trezor
Exodus
Ledger Nano S
Coinomi Wallet
Trust Wallet
Jaxx Wallet
Atomic Wallet
Coinbase
Freewallet

Conclusion

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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