SRM is the native token for the Serum DEX. It runs on the Solana Blockchain with cross-chain functionality.
The Serum DEX has seen steady and healthy gains over the last month, increasing by 200%. This token can be used to pay fees and stake in the Serum DEX. The token runs on Solana’s blockchain and provides cross-chain support.
At the time of writing, the SRM token was being traded at $7.18. Serum claims to have created the first truly decentralised exchange. They don’t require KYC and do not insist on additional identity verification measures.
How and where can I buy Serum in the UK or elsewhere?
You will need to find a platform that lists SRM tokens if you are interested in purchasing it. Below, we have listed two of the most popular platforms.
You will need to prove your identity by providing documentation, such as a driving license or a utility bill, once you have registered with a broker/exchange. This is consistent with Know Your Customer norms, which help secure the platform for all users.
eToro is a multi-asset trading platform that offers the lowest fees and commission rates. Its social copy trading capabilities make it an excellent choice for beginners.
Get SRM today with eToro
NAGA is an innovative social trading platform that allows users access to the most popular cryptos and stocks around the world. Users can copy the strategies of top traders from the platform automatically
SRM with NAGA available now
What is serum?
Serum is a token that can be used on the Serum DEX to allow the exchange of tokens while not having to adhere strictly to privacy norms. There is however one significant difference between the Serum platform, and other DEXs. Serum’s order book is the same as any other centralised exchange, so it offers a decentralised experience without the confusion of DEX platforms.
Serum tokens can be described as SPL tokens that are not only compatible with other chains, but also run on Solana. Cross-chain support can be difficult to implement, but it offers buyers/sellers enormous liquidity, making SRM a desirable token to invest in.
Do I need to buy SRM right now?
SRM has been growing slowly, but steadily. Since they are used to stake and provide governance powers, exchange tokens typically see long-term gains. Investors love them because they have a significant use case within the ecosystem.
Below is the SRM monthly price chart that shows strong gains.
SRM monthly chart. Source: CoinMarketCap
Serum could also follow the same path as other exchange tokens, and may easily double its current price. If the current price trend continues, early investors could reap handsome rewards.
This article is informational only—none of the contents should be construed as financial or investment advice.