How to Buy Substratum | Ultimate Guide To Buy SUB
Substratum (SUB) is a major digital coin, associated with a decentralised platform that is based on a new generation of the Internet, referred to as Internet 3.0. Substratum is intended to offer decentralised storage of information, via all computers that are connected to the platform.
This project also features a highly active community, as Substratum makes it possible for members to vote content up or down; effectively enabling bad players to be removed from the network. So in this article, we’re going to discuss all of the important concepts related to this crypto platform.
5 Steps to Buy Substratum with eToro Now
Buying any cryptocurrency with eToro is easy, simply follow the steps below:
1Sign up for free with eToro, entering your details in the required fields.
2Fill out the questionnaire, this is both educational for you and eToro.
3Click 'Deposit', you'll then be asked how you want to fund your account.
4Choose your required payment method, follow the simple steps to link your payment.
5Enter the amount you want to deposit and you're good to go!
Our Recommended Platform to Buy Substratum
There are many different platforms available to trade Substratum, with both brokerages and exchanges hosted online. Brokers act as intermediaries for those who wish to trade Substratum, while exchanges can be seen as online shopping websites for cryptos; enabling you to execute your own trades. If you already know about the token and wish to jump straight to trading, we've assembled our own recommendations of some of the best crypto brokers and exchanges.
Where to Buy Substratum in 2021
When purchasing Substratum as a beginner, it is vital to take into account the numerous trading possibilities available. In particular, choosing between buying the token and trading on the markets is fundamental to your overall strategy. These are fundamentally different in ethos and practicality, and ultimately have slightly differing aims, even though profit is always at the heart of any investment activity.
Those purchasing Substratum effectively take ownership of the cryptocurrency, and will then typically hold the token for a significant period of time. This would usually necessitate a long-term trading strategy, with investors opting for this approach sometimes having to tolerate dips as well as times of profitability.
Conversely, trading cryptocurrency involves benefiting from price movements in the token. This can often involve a large number of trades in a relatively short time frame. Expert day traders will place trades with great regularity, looking to profit from trivial fluctuations in the market. There are a wealth of other trading strategies available as well, and these all require investors to be knowledgeable about the market, and to follow its development pretty closely.
CFD contracts are particularly popular with Substratum trading because they enable investors to leverage extensively, which can magnify profits. Leveraging essentially involves trading with credit, and is often utilised by institutional investors and experts. However, it is a risky approach, as it can magnify losses as well as profits.
Nonetheless, it’s important to familiarise yourself with all of these issues related to Substratum before beginning any trading process. Trading cryptocurrencies does involve risk and is also a complicated process, so it's important to ensure that you understand all aspects of the processes involved before entering into your investment journey.
This should include research into such issues as setting up cold storage wallets, all online security issues related to cryptocurrency and compatibility.
How to Buy Substratum with a Broker
Trading Substratum via a broker can be an ideal way for beginners to enter the space, as these experts will conduct trades on your behalf. Going with a broker will mean that you don't have to pay the level of attention to the market that is usually necessary.
However, there are many brokers available, and you should certainly research the space diligently before committing to a particular platform.
1. Register with the Broker
Before you can trade with a broker, you first need to register with the platform involved. The first step in this process is registering with the online brokerage platform. This is usually pretty straightforward and involves providing a few personal details and confirming your identity via government documentation and proof of address.
The registration process can differ from one site to another, though, with various platforms having a slightly different approach. For example, Plus500 makes it possible to register for an account via social media platforms, while eToro purely uses an account name and password system. Walking yourself through the registration process before committing to a particular platform is always advisable.
2. Verify your Identity (KYC Process)
The ‘Know Your Customer’ (KYC) verification process has become a fixture of the cryptocurrency space in recent years, as developers and platforms attempt to attract the attention of mainstream financial institutions. KYC probably won't affect you as an investor too much, as it is simply an official legislative process that attempts to ensure that customer identities are collected in a professional fashion.
3. Deposit Funds with your Preferred Payment Method
The next stage in trading Substratum for the first time is depositing funds on the website with your preferred method of payment.
This should be rather similar to registering a payment method with any website, but it is important to confirm that the cryptocurrency platform that you have chosen is indeed compatible with your preferred method of payment. This is likely, but not necessarily inevitable.
Additionally, you should take the speed and fee structure of the platform into consideration before progressing. Both of these aspects of cryptocurrencies can differ significantly from one platform to another.
Another critical part of the process is implementing firewall and antivirus software, in order to ensure that your trading approach is completely secure. It’s also advisable to consult customer service in order to ensure that deposits have been completed correctly, although this is not absolutely necessary.
4. Open a Position to Long/Short Substratum
One of the most fundamental decisions that you will ever make with Substratum, or indeed any investment, is whether to enter into a long or short position.
Taking a long position in Substratum is the traditional way of profiting from any investment. You are essentially asserting that the crypto token will increase in value in the foreseeable future. Any investor that truly believes in the platform will opt for this approach, and this often takes place over a relatively long time period.
CFD trades are essential for short selling Substratum. CFD contracts enable investors to use more leverage, which can magnify profits, and open up further funding for investors. You can also transmit instructions to brokers via stop loss, market and limit orders. These instruct your broker to behave in a certain manner when predesignated market conditions are met.
5. Close your Position
Closing a position in a crypto token is obviously one of the most important parts of the process, so it is important that you familiarise yourself with this before beginning. This can now be achieved automatically by using a stop-loss order, which informs your broker to cease trading at certain market points. Generally, this will occur when profits have been made, but you can also implement this when the market turns decisively against you, or at least you perceive this to be the case.
How to Buy Substratum with an Exchange
Purchasing Substratum via a cryptocurrency exchange is a largely easy process, as the platform selling the token has invested a huge amount of resources in ensuring that it is as user-friendly as possible. Fees and security will come into the equation here, as they can significantly differ between platforms, while regulation and encryption are also important.
1. Set up a Substratum Wallet
Storing Substratum tokens in a cryptocurrency wallet is absolutely essential, particularly for serious investors who intend to hold the token for a significant period of time. If you are going in and out of the market in a trading strategy, wallets aren't as important, but it would still be considered advisable to have a hardware or software wallet in any circumstance.
Software wallets have their advantages, as they can be used by both desktop or mobile platforms. Based on computer software, this form of wallet can often find a favour with investors due to the optimum control that they offer, while the flexibility and accessibility associated with software wallets is also desirable.
Nonetheless, the cold storage technology associated with hardware wallets can be considered the most secure way to store cryptocurrency. This is based on private keys and separate hardware devices, and is essentially completely impossible to crack, as long as you ensure that your private key is kept secure.
2. Choose and Join an Exchange that sells Substratum
There are many cryptocurrency exchanges available on the Internet now, for those who are looking to buy and sell Substratum. Some of the most popular exchanges include the following:
While many of the exchange platforms are quite similar, there are still a few important differences between the sites. Firstly, the fee structures charged are likely to be different, and this is obviously a major consideration for any investor. Use interfaces are another important cosmetic difference, while you can expect security provisions to be somewhat different as well.
Exchanges also accept different currencies and payment methods, while their registration and licensing can also be significantly contrasting. All of these differences collectively certainly represent a good reason to investigate cryptocurrency platforms before committing to a particular exchange.
3. Choose Your Payment Methods to Buy Substratum
There are a variety of payment methods available to purchase Substratum, and these can differ in several important factors.
Debit cards - Debit cards are definitely the most affordable way to purchase Substratum, but they don't come with some of the security provisions associated with credit cards.
Credit cards - Credit cards are fast and secure, and have therefore become the most popular way to purchase Substratum. However, credit cards do tend to attract fees.
PayPal - PayPal is a hugely popular digital payment system, and has particularly found favour with unbanked investors. But there can be delays associated with PayPal, and sometimes fees as well.
Bitcoin - It is also often possible to purchase Substratum via the market-leading cryptocurrency, and this is definitely a valid option. Nonetheless, it can be less flexible than some of the other payment methods available.
4. Place an Order to Buy Substratum
Buying Substratum first requires investors to register for a cryptocurrency exchange or brokerage. The next part of the process will be confirming your identity online, before registering your chosen payment on the website.
Once you have done this, you can then deposit funds, before identifying the investment you are interested in via the user interface of the website. Finally, you can purchase the coin and store it securely in your wallet solution.
5. Safely Storing Your Substratum in a Wallet
Storing Substratum safely is not a particularly difficult process, but should be considered absolutely vital for serious investors. If you are holding a significant proportion of Substratum then it must be stored securely, and there is simply no better way to do this than via a wallet solution.
Typically, hardware wallets require you to keep a private key in order to gain access to your tokens. They should always be stored in a safe and encrypted location, as anyone who acquires this private key will be able to access your tokens, and this is obviously completely disastrous.
Should you Buy or Trade Substratum?
Buying or trading Substratum is a fundamental decision, and one that is dependent on your particular requirements as an investor.
Going through a professional broker can be advantageous for beginners, but it does also require some knowledge of the market. Brokers can implement their own investment strategies on your behalf, but it is generally necessary, and indeed preferable, to guide them to some extent. Conversely, purchasing tokens and holding them doesn't require this close monitoring of the market, and thus may be far more suitable for beginners.
But a big advantage of trading Substratum is that you open up many more options in the market. Probably the most obvious is simply the fact that you can profit from Substratum regardless of whether it increases or decreases in value. Traders have much more flexibility open to them than those who purchase the coin and await price discovery.
What’s the Difference Between a Substratum Exchange and a Broker?
Substratum exchanges make it possible for users to execute their own trades, whereas brokers act as intermediaries, completing the trading activity on behalf of an investor. This is the most obvious contrast between the two approaches to Substratum trading, but there are other less obvious differences as well.
Fees associated with brokers tend to be higher than exchanges, as brokers are highly qualified experts that are offering you a credentialed service.
However, brokers also make it possible to speculate on the price discovery of Substratum via derivative contracts. Both CFDs and futures are popular here. These make it possible to profit from the coin without having to hold any of the tokens, which make it an excellent and convenient option for those who wish to enter the market over shorter time frames.
Substratum: Long Vs Short Term Investment
A long-term investment strategy with Substratum is focused on the token achieving a price discovery over a period of time. Any short-term investment is usually based on trading, and therefore requires an investor to follow the market closely.
Long-term approaches to Substratum trading are based on market fundamentals, whereas a short-term trading strategy is riskier and more volatile. Nonetheless, short-term investments can allow profit to be made in an extremely short time frame, which means that they are attractive to professionals and institutional investors. This is only magnified by the leveraging and advanced trading mechanisms that are available via trading. However, short term strategies require understanding technical analysis and close monitoring of the market which is not easy as the cryptocurrency markets are very volatile and the price can often change in minutes.
Nonetheless, those choosing to purchase Substratum are holding a physical asset, and this can have its advantages as well. The most obvious is that the token can then be used for other purposes, such as purchasing goods and services.
3 Tips to Buy Substratum
In this section, we will provide you with three important tips for purchasing Substratum.
1. Choose the Right Time and Do Your Own Research on Substratum
Choosing the appropriate time to purchase Substratum is essential, as the performance of the token will vary massively in bull and bear markets. Timing is always critical with any investment, and this means that you need to monitor the market closely before beginning your trading journey. You should also keep abreast of any important issues, using online platforms in order to keep on top of the latest information on Substratum.
2. Comparing Costs to Buy Substratum
Different platforms set varying fees for buying Substratum, and it is, therefore, essential to compare costs if you want your trading to be as cost-effective as possible. This actually has a significant impact on your trading, particularly if you are looking to make a large number of short trades, based on relatively trivial fluctuations in the market.
3. Safety and Security when Buying Substratum
Safety and security is always an issue when purchasing any cryptocurrency, and this definitely applies to Substratum. Encryption is definitely a critical part of this process, while customising user profiles and cold storage can add protection, and are definitely encouraged. Ultimately, theft is possible with any form of investment, and any protection that is put in place by a Substratum platform benefits the investor.
What is the Best Payment Method for Buying Substratum
Buy Substratum with Cash: Buying Substratum with cash is unusual, but you may encounter a trader willing to do this.
Buy Substratum with Credit Card: This is the most popular method for purchasing Substratum, due to the security of credit card platforms. There maybe some extra fees involved in this method.
Buy Substratum with Bank Transfer: Bank transfers are another way to purchase Substratum that are available to most investors.
Buy Substratum with Bitcoin: Bitcoin can often be used to purchase Substratum, and definitely merits consideration.
Buy Substratum with PayPal: The digital payment system PayPal is another way that many investors choose to purchase Substratum, particularly in nations that feature a large number of unbanked people.
Other Ways to Buy Substratum
Aside from the methods already mentioned, you could run a node to acquire the token. P2P exchanges are also available for Substratum, and these can be a method of obtaining the token, if you don't want to register for a brokerage or exchange platform.
Substratum is an interesting cryptocurrency project, and one that will be part of the market for many years to come. Many market observers believe that Substratum will escalate in value, and it, therefore, seems an ideal token for investors.
Frequently Asked Questions
According to the developers of Substratum, the platform ensures that users will not have to worry about freedom, censorship, or net neutrality. With Substratum, all applications and websites have the same opportunity to send messages, which its developers contrast with the approach of the current Internet.
The Substratum Network consists of nodes from around the world that securely deliver content. Anyone can use Substratum Host to host applications or websites.
According to the developers of substratum, the platform is designed specifically to make it easy to run the internet, so even those with only basic technical knowledge should be able to utilise the platform.
The major innovation of Substratum is that those who choose to run Substratum Nodes can earn money via micro-transactions while they sleep or do something else, an incentive that will help the system grow while providing income to those who support the network.
This is the token behind Substratum.