SRM is the native token of the Serum DEX and runs on the Solana blockchain with cross-chain functionality
Serum has recorded healthy and continuous gains for the past month, rising by 200%. The token is used to stake and pay for fees in the Serum DEX. The token runs on the Solana blockchain and also offers cross-chain support.
The SRM token was changing hands at a price of $7.18 at the time of writing. Serum claims to be the first truly decentralised exchange and does not ask for KYC or insist on other identity verification measures, providing a pure decentralised experience.
How & where to buy Serum in the UK and elsewhere
If you are interested in buying SRM, then you will need to research a suitable platform that lists the token. We have shortlisted two of the best platforms below.
Once you register on a suitable broker/exchange, you will also need to provide identity proof in the form of documentation such as a driving licence or a utility bill to confirm your identity. This is in line with the Know Your Customer norms that help to secure the platform for all users.
FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.
Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.
What is Serum?
Serum is the token that is used on the Serum DEX that allows the exchange of tokens without adhering to strict privacy norms. However, there is one major difference between the Serum platform and other DEXs. The order book of Serum is just like any other centralised exchange so it provides a decentralised experience but without the confusion that prevails on the user interface of DEX platforms.
Serum tokens are SPL tokens that run on Solana but are also fully interoperable with other chains such as Ethereum. Cross-chain support is tricky to implement and offers buyers/sellers huge liquidity making SRM an attractive token to invest in.
Should I buy SRM today?
SRM has grown slowly but steadily. Exchange tokens usually record good gains over the long term since they are used to stake and provide governance power as well. They have an important use case inside the ecosystem and are therefore preferred by investors.
Below is the monthly price chart of SRM that shows strong gains by the token.
SRM monthly chart. Source: CoinMarketCap
Serum should also follow the same trajectory as other exchange tokens and could easily double from the present price levels. Early investors could be rewarded handsomely if the current price trend continues in future.
This article is informational only—none of the contents should be construed as financial or investment advice.