Last update: Jun 6, 2022

How to Buy Kusama (KSM)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Kusama. Depending on your country, you’ll have a few cryptocurrency trading platforms to choose from.

In this guide, we not only cover the top 3 global cryptocurrency exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Kusama

How to Buy Kusama – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a crypto trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Kusama of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto trading platforms.

4. Buy Kusama

Now that you have what you need to buy Kusama, head over to the market or buy section of the crypto trading platform and buy some KSM.

If the crypto exchange doesn’t have any Kusama on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Kusama first), and trade your Ethereum for Kusama.

Where to Buy Kusama (KSM)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Kusama

  1. Sign into the exchange where you bought Kusama.
  2. Move your Kusama to the right place on the crypto exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Kusama.

 

Crypto trading

How to Buy Kusama (KSM) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Kusama in Australia, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Kusama if it’s available. If the exchange doesn’t have Kusama. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Kusama), and trade your ETH for Kusama.

Also, check out our comparison of the top crypto exchanges in Australia for those curious to know more about which ones we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Kusama (KSM) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Kusama in Canada, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Kusama if it’s available. If the exchange doesn’t have Kusama. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Kusama), and trade your ETH for Kusama.

It’s also possible to check out our comparison of the most reliable Canadian crypto exchanges if you’re curious to know more about which exchanges we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Kusama (KSM) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Kusama in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Kusama if it’s available. If the exchange doesn’t have Kusama. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Kusama), and trade your ETH for Kusama.

You can also check out our comparison of the best bitcoin brokers in the UK for those looking to learn more about which ones we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Kusama? KSM Rundown

Kusama, also known as "Polkadot’s wild cousin", is an experimental Blockchain platform. It is intended to provide a hugely interoperable framework for developers.

Kusama was built on Substrate, a blockchain-building kit created by Parity Technologies. Kusama uses the same codebase that Polkadot, one of the most popular interoperable blockchains.

Kusama allows fast-paced projects to have access to a highly scalable and interoperable sharded network with features not available on Polkadot. Kusama is a "canary network" to that end.

This platform is intended to be used by developers who want to invent and deploy their own blockchain. It can also serve as a pre-launch network for Polkadot, though many projects choose to stay with Kusama for the final product.

Kusama has a low barrier of entry to deploy parachains and low bond requirements for validators. It is most often used by early-stage companies and experimentation.

Kusama is a unique blockchain platform because it was designed for developers who want to launch ambitious, bold projects at a rapid pace.

It is built on a multichain, heterogeneously-sharded design that uses a nominated proof-of-stake (NPoS) consensus system -- an alternative consensus mechanism to the energy intensive proof-of-work (POW) scheme employed by several other blockchains.

This system allows it to quickly upgrade on-chains without the use of a fork. It also supports cross-chain message passing (XCMP), which allows communication with other parachains on Kusama's network.

Kusama, like Polkadot has on-chain governance capabilities. On-chain governance is decentralized and permissionless. Anyone can vote on their governance proposals using Kusama tokens (KSM) or parachain tokens. These could include protocol changes, putative upgrades, feature requests, and protocol modifications. The on-chain governance process is four times faster than the Polkadot one, and takes only 15 days to complete both voting and enactment. This allows for a rapid pace of development of Kusama projects.

This project supports projects that are eager to get off the ground, and launches updates and improvements without having to implement a fork. It also ensures maximum community cohesion.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.