Last update: Jun 6, 2022

How to Buy Storj (STORJ)

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

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

Let’s get started!

How to Buy Storj – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency 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 Storj 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 Storj

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

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

Where to Buy Storj (STORJ)

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

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 Storj

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

 

How to Buy Storj (STORJ) 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 Storj in Australia, the process remains the same:

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

Or, if you’d like to learn more about the exchanges we prefer, read our comparison of the best sites to buy bitcoin in Australia.

How to Buy Storj (STORJ) 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 Storj in Canada, the process remains the same:

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

Also, take a look at our analysis of the trusted crypto exchanges in Canada if you’re looking to learn more about which ones we prefer.

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

You can also take a look at our analysis of the sites for bitcoin trading in the UK if you’re curious to know more about which ones we like.

Considering buying Storj? STORJ Rundown

Storj is an open-source cloud storage system. It hosts user data using a distributed network of nodes. It also uses advanced encryption to protect hosted data.

Storj was introduced to the world in a December 2014 white paper. It was to be a peer-to-peer decentralized cloud storage platform.

A white paper updated two years later was published. This paper describes a decentralized network that connects users who require cloud storage with those who sell hard drives. It was launched in 2018

Participants can be anyone with a computer and internet access. They are called a node, or a unit within the network. Storj tokens are used to reward space providers.

Storj, a decentralized cloud storage network is different in many ways. Storj is a distributed cloud storage network that runs on thousands of computers, rather than traditional cloud storage systems that store data in large data centers.

Tardigrade can be installed by anyone with extra storage. You only need a reliable and consistent internet connection.

Hosts pay less for storage than traditional cloud storage because of its efficiency.

Storj Labs Inc. uses Tardigrade software on node computers to secure and create user data. To protect our privacy, this network of anonymous nodes eliminates the need for us to trust cloud storage providers.

Peer-to-peer encryption is used to ensure that every file is encrypted before it is distributed to the network of independent hosts. Each node receives only a fragment of a file, with decryption keys divided among the hosts and each node. This makes it nearly impossible to hack.

Node operators are rewarded for hosting data. They also confirm the safety and retention of hosted files randomly, a process called mining ( POW). This is where the Storj token comes in handy. The Storj tokens are paid to nodes by individuals or organisations who wish to store data on the network.

This system protects user data against hackers and other malicious attacks. This system eliminates the possibility of data being stored in isolated storage units, which could be vulnerable to coordinated attacks that can lead to massive data loss.

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• How to Buy Stellar Lumens (XLM)
• How to Buy StormX (STMX)