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
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
3
Coinbase
Fees (Maker/Taker) 1.49%*-3.99%*
Cryptocurrencies
Available for Trade 150+
Sign-up bonus
$10 sign-up bonus*
Available in
North America, South America, Europe, Asia, Oceania, Africa
How to create a Binance account
Show Detailed Instructions
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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)?
The problems that arise on a regular basis for blockchain users are addressed by Kromatika via the usage of smart contracts. Their goal is to provide a positive contribution to the key ideals of blockchain technology, which are trust, decentralization, and innovation, while simultaneously lowering the expenses incurred by consumers. They are constantly making efforts to solidify their position as an integral component of the decentralized community.
Kromatika Finance is a decentralized trading system that allows crypto traders to execute limit orders by leveraging Uniswap v3’s powerful concentrated liquidity feature. This feature alone makes it a valuable Dapp, but the actual novelty is the ability to trade without swap fees, price slippage, or front-running bot assaults. KROM is the token used to pay the service charge for the Kromatika Finance Dapp’s limit order function. This implies that by utilizing KROM tokens, you will not only have access to very profitable limit orders on the DEX, but you will also earn additional fees on every transaction due to the revolutionary method to liquidity provision.
Kromatika Finance Dapp also has a sophisticated MetaSwap Aggregator. This platform consolidates liquidity from many DEXs and compares swap data from Uniswap, 0xProject, and 1inch. By optimizing token price, swap fees, and slippage, consumers can obtain better transactions than they would on a single DEX.
When doing swaps on Uniswap V3, the user must pay a swap cost of 0.05%, 0.3%, or 1%. When trading on Kromatika, the user does not pay a swap charge, but rather a service cost. The swap price is proportional to the amount transferred, but the service fee is FIXED.
The actual service charge is paid in ETH because this is the true cost of the processing services (gas fee), although customers always pay in KROM tokens. The KROM coin provides for significant savings on service fees, almost to the point of having zero service expenses. Early KROM token holders would save a ton of money on service fees since they would acquire the token cheaply and pay the service charge (which is a set amount of ETH) if the token price increased. Because of the decreased gas cost, Kromatika will be placed on Layer 2 (Arbitrum and Optimism). The service cost on Layer 2 would be about 0.00002 ETH in KROM tokens. That is one penny for a service fee.
Kromatika main features:
- Audited smart contracts for creating trades and processing them, all powered by Uniswap.
- UI for interacting with KROMatika smart contracts.
- Off-chain decentralized processing services, responsible for active processing of the trades, powered by Chainlink Keepers.
- KROM token — utility ERC20 token used for paying the service fee. This fee is paid by the users and is used to cover the cost of the processing services (Chainlink Keepers).
What is the KROM Token?
The $KROM token is a non-mintable ERC-20 token that was originally launched on Ethereum. It has a total quantity of 100 million and cannot be mined. The token is protected by OpenZepellin, and it has been checked for accuracy by both MythX and CertiK.
- Initial listing token price: 1 $KROM = 1 000 gwei = 0.000001 ETH
- $KROM has a total supply of 100,000,000 tokens.
- $KROM token is fully minted, which means the circulating supply is the total supply.
At the end of Q1 2022, 12 million $KROM tokens of Kromatika DAO wallet holdings were locked (12% of the total supply) while 7 million $KROM tokens remained in the multisignature Kromatika DAO Gnosis Safe wallet. The tokens have been locked on Unicrypt with an average vesting of 2 years and 3 months.
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).
