Kusama (KSM) Coin Price Index

In this article, we’ll discover how Kusama (KSM) works within the broader crypto ecosystem, what benefits may arise from holding KSM, and learn how KSM price charts can reveal potential opportunities.

What is Kusama (KSM)?

Before debuting new solutions in highly volatile market conditions, it’s always a good idea to ensure products are road-ready, and prepared to accommodate the demands of its targeted audience. For the Polkadot network, project builders utilize their “canary” protocol, Kusama, to introduce and fine-tune emerging features. Kusama, and its native token, KSM, allow Polkadot founders and forward-looking participants to experiment with nascent innovations, and help gauge their success in a fully-functional transacting environment. This can range from issues of governance, interoperability between associated networks, evolutions in staking, and the exchange of on-chain value.

Kusma is one of many such “testnets” that serve the critical purpose of providing a safe space to run diagnostic conditioning and greenlight the durability of next generation developments. Much like a product focus group, or troubleshooting beta versions of applications, Kusama isolates these trials to protect the primary network and its users from technical failure. This keeps Polkadot and its users at a safe distance from the harms of novel modifications, or potential blowback from improvements to existing architecture going haywire. In turn, all updates and proposed changes are given ample room to undergo a full battery of tests to ensure their operability. In the long run, preventative measures such as these are essential to preventing the domino effect of systems disruption that unchecked bugs could incur on legacy protocols.

Who are the Founders of KSM?

As an offshoot of the Polkadot network, Kusama shares much of the same family tree. The Kusama testnet was launched in 2016 by Ethereum co-founder Gavin Wood, alongside Peter Czaban, and Robert Habermeier. Wood’s involvement is significant because he was also instrumental in creating the programming language Solidity, which is integral to dapp development on the Ethereum Network. The trifecta of Wood, Czaban, and Habermeier are at the center of many bitcoin alternatives within the crypto ecosystem. The trio built Kusama with the intent of ensuring quality additions were being introduced to the community both at scale and with proper vetting.

How does KSM Work?

Casual pursuers of Kusama are met with the heading “No promises” that hovers prominently above the network guide. This is followed by a caveat shortly down the page that states “Kusama is experimental. Expect chaos.” This note, also bolded on the project’s website, serves as both warning and disclaimer for those who choose to transact on the Polkadot testnet. However, this information is helpful for signaling those who understand the risks and are willing to assume the responsibility of serving as a guinea pig for future network capabilities. To help drive this point home, Kusama is controlled entirely by KSM token holders, who are empowered to vote in governance matters, and in large part guide the future development of the project. Taken at a bird’s eye view, KSM holders are in essence among the chief decision makers on the eventual outcomes that arise on the Polkadot network.

To that end, KSM holders enjoy front line engagement with exclusive features ahead of their major network debut. This includes how assets are stored and transferred on-chain, improvements to the self-governance process, staking procedures, and any vector related to hosting a successful decentralized solution. While the moniker of “canary” holds very real connotations to catching a problem before it spreads, KSM token holders are also beholden to a privileged stance to witnessing what the future of blockchain-based economies and social structures could impart on a global scale. However, this also comes with the significant risk of being first in line to cushion the blow should prices bottom out, and with little hope of recompense if negatively affected.

What’s the KSM Price History?

Few digital assets have experienced the full might of crypto’s fickle nature like Kusuma’s native token. The KSM historical price reveals extreme peaks and valleys throughout its tenure. The discrepancy between its all-time low of $0.9158 on January 14, 2020, to its all-time high of $623.75 on May 18, 202,1 is the perfect encapsulation of the crypto industry’s volatility and potential. Such an immense increase in value within a two-year time frame is an astonishing return by any metric. But while examining the KSM price overtime can give the impression of wild growth possibilities, it’s worth confirming that value alongside present day rates.

What’s the current KSM Price Index?

At the time of this writing, KSM is trading at $29.48 on December 14, 2023. While this is a 3186.49% increase from the asset’s all-time low according to CoinMarketCap, it’s also worth noting that this value is less than 5% of its all-time high.

Where to buy Kusama (KSM)?

As the primary testnet of a major altcoin network, Kusama enjoys prominent listings across the majority of blue chip exchanges. For many such platforms, including CEX.IO, curious participants can create an account and get verified in just a matter of minutes. While regional regulatory conditions may affect the availability of certain products, services, and listings, inquiring as to the scope of access is often readily present on many exchange websites. For example, CEX.IO’s Terms of Use page is a vital resource for understanding the extent of its award-winning offerings, and the current state of its licenses and certifications. To help ensure a safe and secure crypto journey, it’s always important to only place trust, value, and information in vetted companies with tenured reputations.

How to buy Kusama (KSM)?

Once you’ve made the decision to embark on the next phase of your crypto journey by purchasing KSM, it’s time to choose the exchange that best fits your unique needs. Best-in-class crypto platforms, like CEX.IO, often feature a wide range of payment methods secured through synergistic partnerships and regulatory compliance. In 2014, CEX.IO broke ground within the crypto space by becoming the first exchange to empower its users to purchase bitcoin with a credit or debit card. This seminal landmark set the company apart among its contemporaries, and helped establish a firm foundation of centering user satisfaction.

To add KSM to your digital asset portfolio, start by taking a look at current crypto prices. Before entering any financial commitment, it’s always recommended to get a firm grasp of the landscape before taking out a position. This will help determine if the climate is right to buy BTC, buy Tron, or buy Litecoin. Additionally, having the ability to place real-time price analysis alongside accumulated industry knowledge can also help determine the right moment to sell crypto. However, this requires considerable time and research. To kickstart your crypto education, visit CEX.IO University.

After conducting careful study and a clear-eyed personal risk assessment, Instant Buy is the most convenient avenue to purchase KSM within the CEX.IO product ecosystem. Accessible via web browser and the CEX.IO App, KSM may be purchased with a variety of integrated payment methods and funding sources. Once transactions are confirmed, digital assets will appear immediately in your CEX.IO Wallet. Along with the ability to purchase crypto with a credit or debit card, Instant Buy is another innovation that continues to uplift CEX.IO as a leader in the space.

FAQ

Is Kusama (KSM) available on CEX.IO?

Along with over 100+ digital assets, KSM is available for purchase through a variety of means. With a fully verified account, eligible participants can choose the most amenable pathway to explore what KSM could contribute to their crypto journey. Whether the time is right to buy binance coin, exchange BTC to USD, or buy Ethereum, CEX.IO’s diverse services aim to assist participants looking to enter or exit the digital economy. To determine CEX.IO’s operating capacity in your region, please visit our Terms of Use page for a full scope of services.

What should I know before buying Kusama (KSM)?

As outlined above, Kusama is an experimental blockchain designed to stress test updates and improvements to Polkadot. While undoubtedly an exhilarating experience, transacting in an unstable environment can come with significant risks. To again quote the project itself, “Kusama is experimental. Expect chaos.” To put this into a different context, such pretext should read as perhaps more applicable to new market participants. If this is your first time transacting in the crypto space, it may be wise to avoid testnets right from the jump. However, this caveat should not be seen as an endorsement for seasoned traders to enter positions with abandon. Rather, careful caution and research remain the name of the game.

What payment methods are available on CEX.IO?

Diligent readers have already clocked CEX.IO’s attention to providing an extensive suite of integrated payment methods. That’s because we understand the pressure and demand crypto traders experience on an ongoing basis. The right time to buy dogecoin or buy Tezos can be fleeting. That’s why verified accounts can integrate Apple Pay, Google Pay, PayPal, bank accounts, credit, and debit cards where eligible and in compliance with local regulations. Once a payment method has been linked with a CEX.IO account, users may utilize that funding source across the product ecosystem.