You can buy XYM in every trusted exchange service that works with this token. For example, you can use Exolix – the trusted exchange service that works with 400+ tokens and cryptocurrencies.
Where & How To Buy Symbol - Simple 2022-2023 XYM Buying Guide
06 Nov, 2022
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When it comes to any cryptocurrency, there are several questions people always ask. They are interested in how and where to buy it, how to store it, whether it is safe, and how to earn with this crypto. Today we focus on XYM tokens and get the answers to all these questions, including how to buy XYM tokens.
What is XYM
XYM is an abbreviation for Symbol, a native token for the Symbol blockchain platform. The token is mostly used to pay transactions in the Symbol blockchain platform. Initially, XYM tokens were distributed among all NEM holders as an airdrop when the Symbol blockchain was launched. Now XYM tokens can be sold or purchased as any token on the PoS protocol. Using a unique feature known as Delegated Harvesting, XYM holders can use it in an unusual way. They can delegate their coin to the node and receive block rewards.
What is a Symbol Blockchain Platform?
What is the NEM Group?
NEM group is a team of scientists, mathematicians and developers, who have created several interesting blockchain projects. For example, in 2015 they launched the NEM platform – a new blockchain platform with many solutions for business. NEM group always focuses on the most prominent solutions available at the moment. For example, they promote the Proof of Interest protocol – the updated version of Proof of Stake.
How to Buy XYM
The purchase of every cryptocurrency starts with the choice of a platform. Search for the platforms that support XYM (Symbol). Be careful while choosing a platform. As with every financial market, the crypto market is full of scammers who are looking for your money, or at least your personal data. Focus on trusted and reliable platforms with a good reputation and positive feedback from their users. When you find the platform, create an account. As a rule, you have to pass some security checks to get access to all available financial operations. The most frequent procedures are your email verification, your phone number and the Know-Your-Customer procedure. To buy XYM tokens, you should be a verified user on a reliable platform. So, it is necessary to invest your time and effort into the security procedures. Follow the instructions step by step until you get full access to your account and all financial operations. Then you have to replenish your account on the chosen platform. As a rule, to buy XYM you first have to buy some stablecoins using your bank card. Stablecoins are cryptocurrencies that are equal by purchasing power to the fiat currencies, i.e., USD and EUR. Make sure the stablecoins have landed on your account before starting to buy XYM. However, when you have it, you can buy XYM on the derivatives market. The last step before buying XYM is the creation of the wallet. Crypto platforms allow the creation of numerous wallets for different cryptocurrencies. Please remember you should send the crypto to the correct wallet, If you use the incorrect wallet, the transaction fails, and your money will be locked. So be careful at this stage. Ready. Now you can buy XYM on your chosen platform.
How to Store XYM
If you learned how to buy XYM, you have already created a specialized wallet for XYM tokens. You can use this wallet for hot storage. It means your money is saved in the cloud, and you can access it via the chosen platform. For those who want to get a safer wallet, there are cold wallets. It means your money is saved on a flash drive or other physical device. You can get access to your money with the special software. And this type of wallet exists offline. If XYM is a Good Investment in 2022-2023? This week XYM is on the rise. For the last seven days its price has risen by 7.72%. Now the price is $0.0391 and the trend is positive. So, XYM (Symbol) can be a good investment in the short-term.
Frequently Asked Questions
Symbol is not a stable coin and its price does not bend with a fiat currency. It means that it changes depending on the market demand and liquidity. Moreover, it is not obligatory to buy a whole coin, you can buy just a part of it and in this way start the investments from $1! Symbol has a floating exchange rate. The recent price for XYM is $0.0391 with a market capitalization of $218,313,033. But this price can vary from one exchange to another depending on the service fees, exchange rates, volume, and some other factors.
If you follow the basic safety rules, like complex passwords, two-factor authentication, and so on, it is absolutely safe to buy XYM. This token cannot access your personal data or break down your wallet. The only risk is losing the secret data because of a human factor. From the investment perspective, buying XYM is also sage. However, the possible earnings on XYM depend on its future price fluctuation (see our price prediction above).
Of course, you can convert Symbol into cash, but this procedure requires at least two steps. First, you exchange XYM for a fiat coin of your choice and withdraw money to your banking card. Second, you go to an ATM (cash machine) and withdraw cash.