How to Buy YAM v1 Right Now
In this article, we will show you how to buy YAM v1 easily. By the end of this article you would learn how to buy YAMV1 with USD, BTC or ETH. Keep reading.
Table of Contents:
- What is YAM v1? Our review
- Current prices
- Where to buy YAMV1
- How to safely store YAMV1
- Frequently asked questions
Current YAM v1 Price Stats
|YAMV1 Price||$3.4428 USD|
|Price Change24h||$-0.5178 USD (-13.07%)|
|24h Low / 24h High||$3.3838 / $4.2948 USD|
|Trading Volume24h||$207,124 USD|
What is YAM v1? A Review
YAM is an elastic supply crypto asset, where the supply expands and contracts in response to market conditions with the aim of targeting a 1 USD peg per YAM. One of the interesting differentiators about YAM’s approach is that 10% of each supply expansion (known as a rebase) is used to buy yCRV, a high-yielding basket of USD stablecoins, and is allocated to the Yam treasury which is controlled via community governance.Currently, there are 3 versions of YAM, this page refers to the YAM v1 and serves as historical data. The other versions are also available on CryptoCompare at YAM or YAMV2.
Where and How to Buy YAM v1 (YAMV1) Coin
There are 3 steps to purchasing YAM v1. They are:
- Buy Bitcoin: Buying Bitcoin in 2021 is a fairly simple matter which we don't need to go in-depth on. The best places to but Bitcoin directly today with USD or your native currency are: Coinbase, Binance and Paypal.
- Move the Bitcoin to an Exchange that supports YAMV1: Once you have purchased BTC, the next step is to move the BTC to an exchange that supports the YAMV1/BTC trading pairs.
- Buy YAM v1 on the Exchange: Now, you can buy YAM v1 with your Bitcoin on your preferred exchange from the options we provided. Some of these exchanges support different YAMV1 pairs. Below is a detailed breakdown of each exchange and the trading pairs it supports.
How to Safely Store YAM v1 Crypto
Once you buy YAM v1, the next question you'd have is "where do I store my YAM v1s?". It is quiet easy to store your YAM v1 tokens after purchase. In fact there are two easy methods of doing so:
- Cold storage: There is a saying in crypto that the only tokens you own are those on your hard drive. This is very true as lots of things could happen to coins stored on exchanges - e.g hacks. For this reason, cold storage is usually a good option.
Hardware wallet options like - The Ledger Nano S or Ledger Nano X and SecuX V20 could be a good place to store YAM v1. If YAM v1 is an Ethereum based ERC-20 token, you can also store it in any ERC-20 compatible wallet such as MyEtherWallet (MEW) or MyCrypto.
- Exchanges: Storing on Exchanges might be a good option if you don't plan on hodling YAM v1 for the long-term and need to quickly trade it and make some gains. However, be careful as a downside of storing on exchanges is the susceptibility of exchanges to hacks.