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Kusama (KSM) Coins: Everything you Wanted to Know before Investing!

Kusama was initially launched as a wild cousin of Polkadot. At that time it was Polkadot’s experimental version. The first-ever Polkadot focused mainly to provide the developers with a platform where they can set parachains and bring them to practical action. Kusama helped in validating functionality, nomination, staking, and other experiments with different governance tokens. 

Currently, Kusama is one of the leading most emerging cryptocurrencies in the crypto market. It has a market cap of US$2.86 billion, making it the 49th largest cryptocurrency. The price of each Kusuma coin is US$339.76 at press time (Sep 22, 2021) and it has increased by +386% in 2021 YTD (year-to-date). Currently, it is one of the top crypto assets.

Analysts believe that the Kusuma project has the potential of growing fast, thereby making the KSM token increase by multiple folds in the short, medium, and long runs. 

To help you understand whether you should invest in the Kusuma KSM coin or not, let me walk you through different important aspects of Kusuma and its native coin, KSM. 

What Is Kusama Coin (KSM)?

Kusama is an experimental blockchain platform, which calls itself “Polkadot's wild cousin”. It has been designed in such a way that the developers get a massively interoperable and scalable framework. A world-renowned computer scientist and programmer, Dr. Gavin Wood founded Parity Technologies, which developed Kusama. 

Kusama platform has been created on a blockchain building kit, called Substrate, developed by Parity Technologies. Its codebase is almost the same as one of the most successful interoperable blockchains, Polkadot network. 

When you deploy fast-paced projects on Kusama, your projects get access to a sharded network that is highly scalable and interoperable. The features you’ll get on the Kusama platform are not yet available on Polkadot. Kusama calls itself a “canary network”. 

You, as a developer, can use the Kusama platform as a testbed for innovating and deploying their own blockchains. In fact, developers can use the Kusama network for testing before launching it on Polkadot. However, many projects also use Kusama network for coming up with their final product. 

Kusama: Facts & Figures

All these facts and figures will help you to make a decision on investing in Kusama’s governance token by making KSM to USD price predictions:

  • KSM cryptocurrency current price: US$345.55 (as of Sep 23, 2021)
  • Trading Volume (24h volume): US$181,837,145
  • All-Time High (ATH) Price: US$623.75 (reached on May 18, 2021)
  • All Time Low (ATL) Price: US$0.9143 (reached on Jan 14, 2020)
  • 24h Low: US$333.82 (as of Sep 23, 2021)
  • 7d Low: US$297.89 (as of Sep 23, 2021)
  • YTD (Year-To-Date) Return: +402.82% (Jan 1, 2021 to Sep 23, 2021)
  • Market Cap: US$2,927,197,014
  • Crypto Rank (in terms of market cap): 49
  • Fully Diluted Market Cap: US$3,342,976,305
  • Max Supply: ---
  • Total Supply: 9,651,217
  • Circulating Supply: 8,470,098.06 KSM

What are the Benefits of Kusama?

Kusama platform has become so popular because of 3 main reasons: 

  • Low entry barrier to deploy parachains
  • Low bond requirements for validators
  • Most common platform used by the early-stage startups to experiment.

The main 4 benefits of Kusama are:

  1. Fast Iteration

It helps in optimum utilization of upgrades and processes, enabling developers to shift through changes and governance easily. Kusama supports developers in project improvisation as well as excellent growth. 

  1. Cost-Efficiency

Kusama has a very low budget barrier. It enables low-volume companies as well as startups to customize blockchains or Kusuma parachain projects at affordable prices. 

  1. State of the Art Technology

The Kusama is built on the latest technology and is also upgraded continuously in accordance with the needs and trends. Investment of a project developed on Kusama becomes profitable because of this multi-chain network, sharded features, and many more. 

  1. Open Governance

The working of the Kusama platform is based on democratic rules, where the latest upgrades and improvements needed in the network are decided through voting by the network professionals of the community.  

The process of securing the Kusama network involves a mechanism called the nominated proof-of-stake (NPoS) consensus mechanism. It is a far superior mechanism to the energy-intensive proof of work (PoW) consensus mechanism. 

The NPoS consensus mechanism involves the election of nodes by the KSM stakers or a network of nominators, allowing them to participate in the process of transaction validation. A fraction of the inflation reward is provided by the network to the nominators if their nominators get chosen on the next rotation. 

Kusama KSM Price Prediction: 2021-2025

Kusama coin’s price was around US$1 at the beginning of 2020 and it went on to increase to over US$70 by the end of the year. In 2021 too, it is keeping up its stellar performance and till September 23, 2021, it has increased by +402.82% to US$345.55. 

Kusama Price Forecast 2021

The fundamentals, technicals, and regular updates of the Kusama network remain strong in 2021. Analysts believe that the price of KSM will increase to around US$550 by the end of 2021. 

Kusama Price Forecast 2022

The bullish trend in the KSM price will continue even in 2022. The price is expected to reach anywhere around US$640. 

Kusama Price Forecast 2025

The KSM coin, backed by strong fundamentals, is expected to witness a consistent upward trend in 2025. Considering that the Kusama network will keep up with its regular updates, its price is expected to go up to US$950-US$1000. 

Where Can You Buy Kusama Tokens (KSM)?

You can buy KSM from any popular and reliable cryptocurrency exchanges or crypto API including: 

  • Binance
  • Huobi Global
  • OKEx, and many more

You can buy them in multiple trading pairs such as KSM/USDT, KSM/BTC, KSM/ETH, and others. KSM is still not available for trade on Coinbase or Coinbase Pro.

How to Store Kusama (KSM)?

You can store Kusuma tokens safely in a software or hardware wallet. If you want to hold KSM digital assets for a longer period of time, hardware wallets such as Ledger Nano X, Ledger Nano S, Trezor Model T, and others. 

Invest in KSM and Other Cryptocurrencies

You can buy and sell KSM and other cryptocurrencies against various fiat currencies (US Dollar USD, British Pound, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges). Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi systems and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other cryptocurrencies such as Kusuma KSM, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. 

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