Last update: Jun 6, 2022

How to Buy SONM (SNM)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy SONM. Depending on your country, you’ll have various crypto exchanges to choose from.

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

Let’s get started!

Sonm

How to Buy SONM – 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 SONM 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 exchanges.

4. Buy SONM

Now that you have what you need to buy SONM, head over to the market or buy section of the crypto exchange and buy some SNM.

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

Where to Buy SONM (SNM)

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 SONM

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

 

Crypto trading

How to Buy SONM (SNM) 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 SONM 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 SONM if it’s available. If the exchange doesn’t have SONM. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has SONM), and trade your ETH for SONM.

You can also take a look at our analysis of the cryptocurrency trading platforms in Australia if you’re interested in learning more about which exchanges 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 SONM (SNM) 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 SONM 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 SONM if it’s available. If the exchange doesn’t have SONM. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has SONM), and trade your ETH for SONM.

Alternatively, if you want to know more about which exchanges we recommend, look at our comparison of the cheapest crypto exchanges in Canada.

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 SONM (SNM) 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 SONM 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 SONM if it’s available. If the exchange doesn’t have SONM. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has SONM), and trade your ETH for SONM.

It’s also possible to check out our comparison of the best bitcoin trading platforms in the UK for those looking to learn more about the exchanges we prefer.

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 SONM? SNM Rundown

SONM, a distributed system that can be used for general-purpose computing worldwide, is implemented in a fog computing structure.

Fog computing structures make SONM a viable alternative for cloud services and solutions. SONM consumers get better cost-effective solutions than cloud services.

SONM offers computing power in the most generalized cases - general computing. This is suitable for a wide variety of Consumers.

SONM is a computing platform that can be used for real-world applications. Worldwide computations using SONM are capable of performing many tasks, from CGI rendering to scientific computations. Many applications will launch without modification or minimal improvement.

SONM is removed from the computing architecture at the level of business logic (currently, only amd64 support has been implemented, but it will expand in the future), and abstracted form the virtualization technology (Docker support currently in place, but others will be added in the future).

The SONM resources do not depend on only data centers. They also draw on other sources such as people's computers or datacenters (selling excess powers). Computers have both weak and strong sides. The weaker sides include fewer related services, which makes it more difficult to guarantee reliability and privacy. The positive sides include:

  • Scalability - Common resource pool and the potential to include unlimited computing power.
  • The price
  • Geographic distribution
  • Open infrastructure.

SONM joins two global markets - market for mining and market of calculations using traditional cloud provider. This allows our clients (computation customers and resource customers) to benefit from mutually beneficial cooperation.

Customers and suppliers are the main people in SONM. Customers have the option to choose how much time they want or what type of computer architecture they require for their project. They also can set the price. They can perform a wide variety of tasks using SONM. The resource owners are suppliers. They can make tokens selling computing power to Customers peer-to-peer in order to complete their calculations.

SONM's distinctive feature is its open, decentralized structure. Customers and suppliers can interact directly with each other without the need for middlemen. This creates a market for them unlike cloud services. SONM's decentralized computational power marketplace allows customers to find one another and obtain the best prices.

SONM's driving force is its customers and suppliers. They create competition and movement on the market for free resources.

Related:

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.