SRM is the native token of the Serum network, a DeFi protocol built on the Solana blockchain designed to improve speeds and transaction costs in the DeFi ecosystem. After opening 2022 at $3.66, the SRM token price corrected to $0.77 before bouncing. The current low Serum price might be a buying opportunity.

This guide reviews the best platforms to buy Serum with low fees. We also review the Serum project’s background, chart the SRM price action, and predict what lies ahead for Serum based on the wider crypto market and the Serum roadmap.

Where to Buy SRM Crypto – Best Platforms Reviewed

Serum was first listed by Binance in 2020, followed by Crypto.com in 2021. eToro is the latest crypto platform to list Serum in 2022. There was news circulating in early 2022 that Coinbase would also add support for SRM, but it hasn’t yet.

1. eToro: Overall Best Platform to Buy SRM

eToro listed SRM on June 17, 2022, along with a gaming token ALICE and Web3 Token Amp. eToro supports 70+ cryptocurrencies, including DeFi tokens, metaverse and gaming cryptos, and more.

The crypto trading platform added support for crypto assets in 2013 with the listing of Bitcoin. Before that, eToro has been active in forex and stock trading. Launched in 2007 in Israel, eToro gained popularity as a social trading platform – providing social media-like features so traders can communicate and talk about market trends. From this feature came Copy Trading.

Copy Trading is an automated trading tool that allows newcomers and veteran investors to copy the investment strategies of pro-traders who have been successfully investing via eToro for the last 12 months. Such traders are part of the Popular Investor Program and gain rewards when their investment portfolios are copied by other investors.

Smart Portfolio is another feature that eToro offers that you can use to diversify your investments. It is a collection of best-performing assets that eToro has vetted. There are over nine crypto portfolios, including a DeFi Portfolio and Crypto Portfolio.

eToro’s trading fee is 1% for buying or selling SRM or other crypto assets. eToro adds this fee to the market price (bid-ask spread).

Other features include eToro academy, which contains a collection of tutorials for those wanting to learn about cryptocurrencies. For experienced traders looking for a summary of the latest market trends, eToro Plus is another utility.

eToro has more than 27 million users. Their funds are kept in cold storage and secured with two-factor authentication, SSL encryption for customer data protection, and tier-1 banks are used to store customers’ USD deposits. Since November 1, 2020, eToro has offered free insurance policy to its clients. Additionally, eToro comes under CySEC, FCA, and ASIC regulations.

eToro is a great learning platform for beginners. That is, if you want to try your hand at investment on eToro, you can open a $100k demo account to start paper trading – trading in a virtual environment for practice.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

2. Crypto.com: Trade SRM on Margin

Crypto.com listed SRM on October 22, 2021, and opened spot trading SRM-USDT, SRM-USDC, and SRMUSD-PERP perpetual futures contracts.

It is one of the most media-savvy crypto exchanges on the list, having sponsored Matt Damon as the brand ambassador and has spent millions on marketing. It has listed over 250 crypto assets and allows advanced traders to margin trade crypto with leverage up to 100x.

Other than a traditional exchange, Crypto.com also is a DeFi lending platform – offering a DeFi wallet and users a chance to earn interest on DeFi tokens and other assets. Only Fantom, NEAR, and Zilliqa protocols are currently supported. Serum Protocol hasn’t been added to this yet. If it happens, there is a chance that you’d be able to earn interest on SRM.

To further help the advanced traders, Crypto.com introduced Recurring Buy. The exchange added another utility to this feature with Dollar-Cost Averaging bot – allowing investors to automatically scale their position on the crypto they are interested in without actively interacting with the platform to trade.

Crypto.com’s flagship product is the Visa Crypto card. You can use it to pay retailers using crypto assets and earn lucrative cashback. In the early days, you could have made as much as 8% cashback using the card. However, Crypto.com slashed the rewards from 8% to 5% and removed cashback incentives for low-tiered crypto cards.

Crypto.com is also one of the most popular staking platforms on the list – providing as high as 14.5% APY on crypto assets and 10% APY on stablecoins. To earn the highest interest, you must also stake CRO – the native asset of Crypto.com’s ecosystem.

Crypto.com also has its own NFT marketplace and a collection of learning blogs under the Crypto.com University project.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

3. Binance: Buy SRM at the lowest Fees

Binance listed SRM on August 11, 2020, and opened trading for SRM/BNB, SRM/BTC, SRM/BUSD, and SRM/USDT trading pairs.

In May 2022, it added SRM/USDT to the isolated margin pairs.

As the world’s leading cryptocurrency exchange, Binance has listed over 600 altcoins and has nearly 100 million users. US users cannot directly trade on Binance, but can access Binance.US. That United States facing platform has listed over 100 cryptocurrencies – SRM is yet to be added for US-based users but may be in the near future.

Binance is known for Binance Earn, a utility that offers savings, staking, farming, and dual investment – allowing users to make huge gains on their stored crypto assets. SRM investors can use Binance’s flexible savings feature to earn up to a 2.00% Annual Percentage Yield.

Like eToro, Binance also has Binance Academy, a collection of education courses that you earn learn about crypto markets.

Binance is on our list of the best platforms to buy Serum because of the low fees. It takes a 0.1% maker/taker fee. That’s lowered further for traders using a Binance referral link and buy paying the fees using BNB.

Binance has recently removed trading fees for many Bitcoin spot trading pairs. While SRM has not been added to the list, it can happen.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

What is Serum?

Serum is a DeFi protocol designed to fix the long-standing issues of the DeFi ecosystem, including:

• Segmented liquidity: It forces most DeFi protocols to populate their silos with unused capital. This wasted capital could instead be redirected towards improving the DeFi network.
• Inefficient markets: It is caused by the limitation of current technologies to maintain a central limit order book that forces DeFi networks to rely on centralized bodies. A central limit orderbook is a transparent system that matches all the bids and offers according to the asset’s price.
• Layer settlement risk: Layer2 solutions limit composability which causes settlement risks between transactions.

To resolve these issues, the Serum protocol combines the speed of centralized markets with fair, efficient and trustless systems.

The Serum Protocol is built on Solana’s layer 1 blockchain and consists of four main components:

• A full central limit order book: At the heart of the Serum Protocol lies the Serum core, an asset agnostic order book built on the Solana blockchain. It allows the protocol to operate regardless of the type of crypto assets. The code supports advanced financial markets for assets such as derivatives and lending
• Developer ecosystem and services: Developers can connect their projects to Serum and use its liquidity.
• True composability: Diverse applications can share middleware at one place on the Serum protocol. It allows trading applications to share a single liquidity source – making it accessible to institutional and individual users
• The Serum DAO: The Serum Decentralized Autonomous Organization puts the future of the serum ecosystem’s development in the hands of the community.

The Serum crypto project website

For an introductory guide to decentralized finance see our ‘What is DeFi?‘ page.

Serum Ecosystem

The components of the Serum Ecosystem consist of the asset agnostic orderbook, which has an unchained central limit orderbook and matching engine. Both these components combine to provide price-time-priority matching and liquidity to traders and the composing project – allowing users to choose the trade’s size, price, and direction.

Serum Code allows apps to create their own orderbooks or work with existing orderbooks.

Any Solana program can use Serum code in need of an orderbook. In doing so, Serum outsources tasks such as implementation and maintenance for matching buyers and sellers. The design helps users to process traders across all applications within the network at the same time.

SRM Token

SRM is the native token of the Serum protocol. It is based on the SPL token standard. However, it has also been cross-listed as an ERC 20 token as well. The two ways that this token provides value are through utility and adoption. Project Serum designed economic locks for Serum, with over 90% of SRM tokens having long-term unlocking periods.

The maximum supply of the SRM token is 10 billion. And at the time of writing, there were over 263.2 million SRM coins in circulation.

There are over 125 million tokens placed in reserves to ensure liquidity. The remaining 825 million tokens in the Serum ecosystem are rewarded as incentives.

The primary utility of Serum is used for staking rewards or as a way to reduce the fee to trade on Serum DEX – a decentralized derivatives exchange. The other utility of the SRM token is voting. Users can participate in on-chain governance through tokens. In addition to that, SRM is also used for fee and structuring rewards.

Is Serum a Good Investment?

Serum provides the world’s first fully decentralized and open liquidity infrastructure. It offers high speed and low transaction fees to the DeFi ecosystem. As one of the leading DeFi project, it has attracted attention from the crypto crowd. However, in the current bear market, placing your faith in tokens that have a future is important. So, is Serum one of them?

Serum derivatives allow faster transactions. Developers have clocked the speeds up to 65,000 TPS – higher than most fiat transaction methods.

SRM’s use cases are continually evolving. It has use cases in not just DeFi, but also crypto gaming – making it one of the few DeFi tokens with utilities beyond governance. The project’s current roadmap has many projects in the pipeline. These include on-chain bridges, Automated Market Makers. Binance’s recent listing of the SRM/USDT pair to the isolated margin list is part of that development.

With cross-chain trading, Serum is more secure than a custodial exchange. Users enjoy a permissionless and transparent trading experience across networks.

There are also rumors more altcoin exchanges will list SRM in the new future and add support for the SPL standard.

Another reason that many are bullish on SRM is because of the founders. FTX and Alameda are headed by Sam Bankman-Fried, who has been bailing out crypto lending platforms affected by the 2022 crypto winter.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

Serum Price

Since launch, Serum has formed three major bull runs over the course of trading and has seen two massive blow-off tops. The first and largest bull run happened from November 2020 to Feb 2021. The value of the SRM token grew by 740%.

The second SRM Price rally happened from June to September 2021, and the token grew by 370%. It was here that the crypto reached its all-time high of $12. The third time SRM rallied was from arch 2021 to May 2021, and the price grew by 190.1%.

These rallies coincided with various developments in the project, such as the launch of the full DEX and listing on trading platforms. Other reasons were FOMO and the project’s strong fundamentals that, to this day, are being counted upon.

Serum Full Price History

Serum opened in 2022 at $3.66. It then followed a steep downtrend until the month-end to $2.11, followed by a brief period of sideways trading and a minor upswing.

SRM started pumping mid-march in response to the announcement by Project Serum of a $500k Ecosystem price for developing a cross-chain exchange. Serum partnered with Wormhole to launch the ecosystem project prize of up to $500k. It aims to bring the community to build a cross-chain exchange that uses Serum’s limit orderbook and combines it with Wormhole’s Portal bridge and generic message passing.

The price then started to decline, slowly looking for levels to reach an accumulation range. Serum corrected nearly $1 along with other altcoins as the crypto entered the bear market as BTC failed to find support at $25k. It then bounced to $1.35, followed by a marginal correction.

At the time of writing, Serum has broken below the $1 mark and is accumulating between $0.72 and $0.78. SRM’s current rank is #134 on CoinMarketCap.

Serum Price Prediction

Serum is currently trading below its 2020 bear market levels. The massive upswing the Serum price gained in March after the cross-chain DEX competition has corrected steeply to the 2022 bear bottom. The price has started to accumulate at even lower levels after the bounce.

Fibonacci Retracement Levels – Weekly Candlestick Chart

The price is below its EMA 9, with many saying that the token might have found support.

Currently, SRM is testing the support at 1 fib. If it does so, the 0.786 fib levels will be tested ($1.3). Success will lead to a 2x upswing of the SRM price. However, to retest the highest of this year, a major shift has to occur, and the SRM has to go up in value by 400%.

About testing the all-time high of $12, SRM has to go up by 16x. Reaching those valuations can be difficult because the circulating supply limits the token’s current market cap.

According to Crypto Youtuber Jacob Crypto Bury, the token is currently forming a bullish divergence trend because of its current falling wedge pattern.

To sum up, the SRM price seems ready for a breakout to the upside. Investors looking to make an immediate return on ROI might want to buy based on the current low price. As for the future prospects of the token, it would depend on the future projects in the pipeline and also Bitcoin holding stable above $20k.

Best Ways to Buy Serum

Here are the best ways to buy Serum:

Buy Serum with Debit or Credit Card

If you’re using a debit card to buy Serum on Crypto.com, the fee is 2.99%. eToro has only a 1% fee across all transaction methods.

Buy Serum with PayPal

eToro is the only platform in this guide that allows investors to buy SRM and other crypto assets using PayPal.

Buy Serum with Debit or Credit Card

Bybit is another popular crypto exchange to have listed SRM. It allows users to start buying cryptocurrencies without providing ID details. Withdrawals are also possible without providing identifications, but they are limited to 2 BTC per day.

Changelly is another non-KYC platform that allows you to swap other cryptos for Serum.

Best Serum Wallet

Newcomers seeking to store their crypto holdings can use their portfolios in the reviewed crypto exchanges. All of them have implemented several methods to secure the tokens.

Compared to a hardware wallet, it is less cost-intensive and safer. eToro provides a multi-crypto wallet in which you can store your Serum assets.

How to Buy SRM Crypto – Full Tutorial

Step 1: Create an Account

Visit the official eToro platform and start creating your crypto account. The process doesn’t take more than a few minutes and requires you to upload your KYC documents.

Step 2: Deposit

Top up your eToro account using the several available fiat methods, including credit card, debit card, Neteller, Skrill, PayPal, and bank transfer. You can also transfer crypto to your eToro portfolio.

Step 3: Search for Serum

In the search box, type Serum. Click on the first option, and you’ll land on the Serum trading page. Here, you can review the charts and read the comments of the active traders before clicking on the trade button.

Step 4: Buy Serum

Clicking the trade button will open a prompt where you must enter the amount you want to invest in SRM tokens. Choose the amount and click the “Open Trade” button to finalize.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

How to Sell Serum

Once you have bought Serum, it will be available on your dashboard. Select the token, and click on the red cross on the right side. Then click on the “Close Trade” button.

Conclusion

Serum has seen a steep downtrend after the minor surge in March. Its recent listing on eToro also did little for the price action.

Some investors might want to want for a clear bullish market structure to form before investing in SRM. That said, the current action shows a falling wedge pattern, which is a bullish pattern. Bitcoin is also trading back above $21,000 as at the time of writing, so altcoins might also have a relief rally in the coming weeks and months. The low Serum coin price could represent a buying opportunity as a long term hold.

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