BEAM is a confidential decentralized finance (DeFi) platform that runs on a combination of two blockchain protocols (LelantusMW and Mimblewimble).
In the early years of the industry, transactions with public-blockchain cryptocurrencies like Bitcoin (BTC) were thought to be untraceable. With developments in blockchain analysis, it became clear that transactions can actually be traced back to the senders, posing a great threat to users' privacy.
To solve this issue, BEAM came up with innovative ways of increasing the anonymity of transactions, address balances and user identities.
Beam runs on the Mimblewimble protocol and was launched in March 2018.
How to Buy BEAM on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing BEAM. Some reputable platforms include LBNK, Okx, Kraken, and others.
Step 2: Register an Account
Here, we'll register an account on the OKX (registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing BEAM.
Step 5: Purchase BEAM
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of BEAM you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy BEAM.
Step 6: Store Your BEAM
After purchasing, you can choose to store your BEAM in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and BEAM assets, be sure to use a strong password and enable two-factor authentication.
BEAM Price:The $BEAM token serves as the native crypto asset for the Beam network, a gaming network empowered by the Merit Circle DAO.
The price fluctuates daily, and as of March 30, 2024, the highest price for BEAM was $0.0268.
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