In this era of digitalization, you can see everything around you transform into digital from its original classification. Now that money has got its own sub roots, even the blockchain has divided to support various types of cryptocurrencies. If you’re one of the cryptocurrency enthusiasts, you must have witnessed new entries being added to exchanges for trading. Back when Bitcoin was the only digital asset to deal with, it took almost a decade for people to get familiar with it. However, this is not the case with other currencies that joined the race later than BTC. One of such assets is Golem, which is a global open-sourced decentralized supercomputer and accessible by everyone. If you’re attracted towards this super currency, we have listed the steps to buy Golem for you:
This guide is divided into two different parts where we will discuss how to set up a Golem wallet and buy Ethereum.
How To Set Up A Golem Wallet:
Here, we are going to discuss the simplest wallet and way for storing your Golem coins, which is provided by MyEtherWallet. With MyEtherWallet, you can store Golem as well as any other coin on the Ethereum blockchain.
Step 1: First, you need to go to myetherwallet.com. You need to enter a password that is not easy to guess.
Note: Please keep in mind, you need to choose a password that can’t be forgotten easily, otherwise you might lose the access of your coin if you can’t recall your password.
Step 2: Select Create New Wallet.
Step 3: Now, choose ‘Download Keystore File’. (Do not forget to read the warning before going future). You can also take a backup of the files so won’t lose them at any cost. Once you’re done with above instructions, you need to click on click ‘I understand. Continue.’
Step 4: You’ll receive an unencrypted private key to your wallet and click ‘Save your address’.
Note: Please don’t share this key with anyone. With the help of the key anyone can access your account and gain access of the coins.
Step 5: Now, to access your wallet, you need to choose ‘Keystore File’ option and now upload the Keystore file that you have downloaded in the step 3 along with your password.
After performing the above steps, you need to scroll down the page until you see your opened wallet.
Step 6: Now you’ll notice a long letter in a line called ‘Your Address’. This labelled numbers are your personal wallet address and you will be receiving your Golem coins on the same address.
How To Buy Ethereum Cryptocurrency?
Step 7: Now, we need to buy Ethereum cryptocurrency to exchange Ethereum for Golem. We are going to use Cex.io Ethereum exchange. However, you can also use another popular exchange like Coinbase.
Step 8: Go to Cex.io and choose ‘Register’ button from the top menu.
Step 9: Now, you need to type down your email address along with a secure password and then click on the checkbox that you are ok with the provided terms.
Step 10: Choose ‘Register’.
Step 11: Now, you’ll be prompted to set up two-factor authentication. Using the two-factor authentication is recommended to add an extra layer of security for your account so do not skip this step.
You can also use ‘Smartphone App’ option.
Step 12: After setting up the security, your screen will take you to your account dashboard. Now, go to your personal email account and open the email that you’ve received from Cex.io. You need to click on the provided link to verify your account.
Once your email is confirmed, you’ll get a new page where it shows that your email has been confirmed, then you can ‘Go back to the site’.
Step 13: Now, check out your ID will be displayed in the top menu, you need to hover your mouse over the ID and then select ‘Verification’ from the drop-down menu.
Step 14: Like with cryptocurrencies exchanges, you need to complete your verification process with Cex.io by providing your uploading your ID and other required info.
Step 15: After the verification process, you need to click on ‘Deposit’ from top menu.
Step 16: Now, you need to select how you want to deposit your money. You can go with any of the offered ways by following the given instructions such as via credit/debit card or bank transfer.
Step 17: The moment you get money in your respective account, you need to choose ‘BUY/SELL’ option from the top menu and the select ‘ETH’. You can also choose the currency to buy it like in Euros, Dollars, Rubles or Pounds.
Now, you’ll get some pre-calculated amount of Ethereum. You can check out the bottom of the page and enter the amount of Ethereum that you would like to purchase in the available the ‘Custom amount’ box. Once you’re done, hit Buy.
Step 18: Before providing your confirmation, check out the filled info is correct or not and then click on ‘Confirm the order’. You will see Congratulations- you’ve successfully bought *** Golem and then you need to click on ‘Ok’.
Now you can use various website and exchanges to exchange your Golem like Binance.
So, now you know how to buy Golem cryptocurrency and how to set up Golem wallet. Get started with it!