How To Buy Kromatika (KROM)?
A common question you often see on social media from crypto beginners is “Where can I buy Kromatika?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process.
Step 1: Create an account on an exchange that supports Kromatika (KROM)
First, you will need to open an account on a cryptocurrency exchange that supports Kromatika (KROM).
We recommend the following based on functionality, reputation, security, support and fees:
1
MEXC
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1500+
Sign-up bonus
10% reduced trading fees & up to $170 in USDT vouchers*
Available in
North America, South America, Europe, Asia, Oceania, Africa
In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.
Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.
Step 2: Deposit funds into your account
Many cryptocurrency exchanges will allow you to purchase Kromatika (KROM) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.
Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.
Step 3: Buy Kromatika (KROM)
This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Kromatika (KROM) or Kromatika (KROM) trading pairs. Look for the section that will allow you to buy Kromatika (KROM), and enter the amount of the cryptocurrency that you want to spend for Kromatika (KROM) or the amount of fiat currency that you want to spend towards buying Kromatika (KROM). The exchange will then calculate the equivalent amount of Kromatika (KROM) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of Kromatika (KROM) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.
Alternative ways to buy Kromatika (KROM)
Because the project is very new, it is only offered directly on a select number of exchanges. If you’re not comfortable connecting your bank account to any of these smaller exchanges, or if you cannot connect your bank account to them for geographical reasons. Then you can instead create an account on any of the major exchanges and simply transfer the funds from there.
Out of the major exchanges we recommend the following based on functionality, reputation, security, support and fees:
1
Binance
Fees (Maker/Taker) 0.075%*-0.1%*
Cryptocurrencies
Available for Trade 500+
Sign-up bonus
10% reduced trading fees*
Available in
Europe, Asia, Oceania, Africa
2
Bybit
Fees (Maker/Taker) 0.1%*-0.1%*
Cryptocurrencies
Available for Trade 400+
Sign-up bonus
$30,000 sign-up bonus*
Available in
Europe, Asia, Oceania, Africa
3
MEXC
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1500+
Sign-up bonus
10% reduced trading fees & up to $170 in USDT vouchers*
Available in
North America, South America, Europe, Asia, Oceania, Africa
How to create a Binance account
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Step 1: Go to the Binance website.
Step 2: On the registration page, enter your email address, and create a password for your account.
Then, read and agree to the Terms of Service and click “Create Account”.
Note: Your password must be a combination of numbers and letters.
It should contain at least 8 characters, one UPPER CASE letter, and one number.
Step 3: Complete the Security Verification.
Step 4: The system will send a verification code to your email. The verification code is valid for 30 minutes. If you can’t find the email in your inbox, check your other mail folders as well, or click “Resend Email” to resend.
How to complete KYC (ID Verification) on Binance
Step 1: Log in to your Binance account and click “User Center” and then “Identification”.
Step 2: click “Start Now” to verify your account.
Step 3: Select your country of residence.
Ensure that your country of residence is consistent with your ID documents.
Step 5: Enter your personal information and click “Continue.”
You won’t be able to change it once confirmed.
Refer to the respective options offered for your country.
Step 7: Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.
Do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient.
Once your application has been verified, you will receive an email notification.
How to buy cryptocurrency on Binance
Step 1: Log in to your Binance account and click “Buy Crypto” and then “Credit/Debit Card”.
Step 2: Here you can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. When you have selected the amount you wish to spend then press “Continue”.
Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.
Step 3: Click “Add New Card”. Then enter your credit card details and your billing address.
Step 4: Check the payment details and confirm your order within 1 minute. After 1 minute, the price and the amount of crypto you will get will be recalculated. You can click “Refresh” to see the latest market price. You will then be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment.
How to Conduct Spot Trading on Binance
Step 1: Log in to your Binance account.
Click on “Classic” under “Trade” on the top navigation bar.
Step 2: Search and enter the cryptocurrency you want to trade.
Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.
(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)
Step 4: If you don’t want to set a manual price, you can place a “Market Order” to set the buying/selling price automatically.
Hide Detailed Instructions
For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out.
What is Kromatika (KROM)?
Blockchain technology has revolutionized the way we approach digital transactions and data management, bringing to the forefront key principles such as trust, decentralization, and innovation. Kromatika, a pioneering company in the world of decentralized finance (DeFi), is committed to providing practical solutions to the everyday challenges faced by blockchain users. By employing smart contracts, Kromatika aims to not only enhance the core values of blockchain technology but also reduce the costs incurred by consumers, making it a more accessible and user-friendly experience.
Kromatika Finance has established itself as a groundbreaking decentralized trading system, offering cryptocurrency traders the ability to execute limit orders through the use of Uniswap v3’s cutting-edge concentrated liquidity feature. This powerful functionality alone sets Kromatika Finance apart as a valuable decentralized application (Dapp); however, it is the introduction of trading without swap fees, price slippage, or front-running bot attacks that truly sets it apart from competitors.
Central to the Kromatika Finance Dapp is the use of the KROM token. This token is utilized to cover the service charges for the limit order function, providing traders with highly profitable limit orders on the decentralized exchange (DEX) while simultaneously earning additional fees from each transaction, thanks to an innovative approach to liquidity provision.
In addition to these features, Kromatika Finance Dapp boasts an advanced MetaSwap Aggregator. This sophisticated platform consolidates liquidity from multiple decentralized exchanges, comparing swap data from industry-leading platforms such as Uniswap, 0xProject, and 1inch. By optimizing token prices, swap fees, and slippage, users are able to secure more advantageous transactions than they would on a single DEX.
When executing swaps on Uniswap V3, users typically face swap costs ranging from 0.05% to 1%. Kromatika, on the other hand, replaces swap charges with a fixed service fee. This means that while the swap price depends on the amount transferred, the service fee remains constant, providing greater predictability and stability for users.
It’s important to note that the actual service charge is paid in ETH, as this represents the true cost of processing services (gas fees). However, customers always pay in KROM tokens, which leads to significant savings on service fees—almost to the point of eliminating them altogether. Early KROM token holders stand to benefit substantially, as they can acquire the tokens at a lower price and pay the fixed service fee in ETH when the token’s value increases.
To further enhance its appeal and efficiency, Kromatika is set to be integrated with Layer 2 solutions such as Arbitrum and Optimism, resulting in reduced gas costs. The service fee on Layer 2 is expected to be approximately 0.00002 ETH in KROM tokens, which translates to a mere one cent per service fee.
What makes Kromatika unique?
Kromatika is a groundbreaking platform that aims to revolutionize the DeFi landscape by providing an innovative and user-friendly solution for blockchain users. Its main features, which set it apart from competitors, include:
- Audited smart contracts: Kromatika employs audited smart contracts to facilitate the creation and processing of trades. These smart contracts are powered by Uniswap, ensuring the utmost security and reliability in all transactions.
- Intuitive User Interface (UI): Kromatika offers a user-friendly and easy-to-navigate interface that allows users to seamlessly interact with the platform’s smart contracts. This enhances the overall user experience, making Kromatika accessible to both seasoned and novice traders alike.
- Off-chain decentralized processing services: Kromatika’s processing services are powered by Chainlink Keepers, providing off-chain decentralized solutions for the active processing of trades. This not only ensures the accuracy and efficiency of the transactions but also contributes to the platform’s commitment to decentralization.
- KROM token: The KROM token is an ERC20 utility token used exclusively for paying service fees on the Kromatika platform. These fees are paid by users to cover the cost of processing services (Chainlink Keepers), ensuring smooth and efficient trade execution. By utilizing the KROM token, users can enjoy significant savings on service fees, making Kromatika an even more attractive option for those looking to trade in the decentralized ecosystem.
In conclusion, Kromatika stands out as an innovative and secure platform for decentralized trading, offering users a range of unique features that make it a top choice for those seeking to benefit from the advantages of blockchain technology. With its audited smart contracts, intuitive UI, off-chain processing services, and utility KROM token, Kromatika is poised to become a major player in the DeFi landscape.
What is the KROM Token?
The KROM token ($KROM) is a non-mintable ERC-20 token that was initially launched on the Ethereum blockchain. With a total supply of 100 million tokens, the KROM token is designed to be finite, ensuring a fixed circulating supply that cannot be mined or increased. As a measure of security and reliability, the token is protected by OpenZeppelin and has undergone rigorous audits by reputable firms such as MythX and CertiK.
Upon its initial listing, the KROM token was priced at 1 $KROM = 1,000 gwei or 0.000001 ETH. Being fully minted, the circulating supply of the KROM token is equivalent to the total supply, which is capped at 100,000,000 tokens.
As of the end of Q1 2022, Kromatika DAO locked 12 million $KROM tokens, representing 12% of the total supply, while 7 million $KROM tokens were stored in the multisignature Kromatika DAO Gnosis Safe wallet. The locked tokens are secured on Unicrypt, with an average vesting period of 2 years and 3 months.
Kromatika development updates in 2023
In 2023, Kromatika, known for its decentralized exchange (DEX) offerings such as limit orders, swaps, perpetual trading, and gasless swaps, has made some noteworthy advancements:
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Expansion and Integrations: Kromatika continues to expand its offerings on Ethereum L1 and L2 networks. This expansion is significant as it broadens the reach and usability of Kromatika in the Ethereum ecosystem. The DEX specializes in innovative features such as fully decentralized limit orders (FELOs), which offer advantages like no price slippage and MEV-resistant trades. Additionally, users can earn LP fees on top of their Limit Order using FELOs.
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Perpetual Trading and Gasless Swaps: In partnership with ApolloX, Kromatika offers perpetual trading with up to 100x leverage. This feature is accompanied by very low trading fees compared to other competitors in the DeFi space. Kromatika also introduced gasless swaps, allowing users to save on Ethereum or MATIC gas fees, as these fees get automatically deducted from the swap output token.
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Governance and DAO Involvement: Kromatika is governed by the Kromatika DAO, which plays a crucial role in deciding the future of the project. The DAO is instrumental in suggesting improvements and guiding the development of Kromatika in a way that benefits the wider crypto community.
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Community and Market Presence: Kromatika has a significant community presence and is actively involved in the development of new features and offerings. Its market capitalization and trading volume indicate a healthy level of activity and interest in the project.
These developments highlight Kromatika’s commitment to enhancing its platform and services, focusing on innovative DeFi solutions, and expanding its influence in the cryptocurrency space. The integration of advanced trading features and the active involvement of its DAO are pivotal in driving Kromatika’s growth and adoption.
Official website: https://kromatika.finance/
Best cryptocurrency wallet for Kromatika (KROM)
There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.
HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Kromatika (KROM)?
Deciding which type of wallet to use depends on a variety of factors, including:
- How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades.
- What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
- Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
- How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
- What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.
For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.
If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.
Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).
Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).
Kromatika (KROM) Price & Charts
- Market Capitalization And Daily Trading Volume
- Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)
- Circulating And Total Supply
- Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).
