What is STORJ? Where to Buy It?

Storj is a blockchain project that focuses on the highest valued currency of our lifetime: information. With private and big data being more important than ever in the 21st century, investors have shifted their attention towards data-based blockchain projects But where to buy STORJ?

Blockchain technology is widely adopted and is already being used in many enterprise-level use cases, but why is there no solution yet that decentralizes data and makes it more efficient? Storj may very well be the one project to dominate in this niche and to enjoy the benefits of being the first-mover. Because of that, it is important that you invest in time.

What is Storj?

Storj is a decentralized blockchain platform that leverages the idea of decentralized technology to provide secure and encrypted cloud storage services.Why host centralized data centers when it is possible to create a network supported entirely by decentralized individuals?

The Storj team believes peer-to-peer cloud networks to be the ultimate future of data. To facilitate cheaper, faster, and more secure networks that help both companies and users in this regard, Storj developed a variety of innovative features.

Operated by Storj Labs, a company created in 2014 by Shawn Wilkinson and John Quinn, Storj is an innovative and brand new solution for data hosting. The entire network relies completely on nodes, which makes decentralization and P2P possible.

Practically anyone can become a node operator on Storj, as long as they have the network connection and hardware required to actively support it.

What is so great about Storj? Practically all payments and rewards incentives are distributed via cryptocurrencies. Likewise, the STORJ token itself is used to reward node operators who successfully store and distribute encrypted data.

Think of Storj as the blockchain version of Google or Amazon AWS. If enterprises adopt decentralized technology in the near future, then big tech giants will surely invest and seek platforms like Storj.

If the network performs well, it may even reach a state that is on par with the aforementioned companies. But take things one step at a time! Storj has to dominate in its respective niche before we can even begin to compare it with the big data giants.

Is Storj a good investment?

Are you a data freak that believes in everything that decentralized technology has to offer? Do you acknowledge that blockchain technology can disrupt sectors and industries other than finance? Then Storj is the perfect choice for you!

As with most cryptocurrencies, the success of STORJ depends entirely on the performance of its blockchain network. Since the token represents the primary source of rewards for node providers, you can expect STORJ and the blockchain network itself to be correlated in terms of value.

As long as users and businesses begin to adopt the protocol, the value of STORJ will rise. But if the protocol’s network activity is low, then it is difficult to anticipate a bullish future for this cryptocurrency.

But you know what? Experts believe that Storj is a highly promising project and that it has a place in the overall scheme of things.

Even the Ethereum co-founder Vitalik Buterin acknowledged the potential of Storj, stating that it can provide a much higher level of quality, reliability, and privacy compared to the options that we have today. Buterin has even contributed to the Storj whitepaper, which goes to show how much faith he has in the protocol.

The token itself may have burned out since its original launch in 2018, but its current price point still makes Storj a great investment opportunity. At the time of writing, STORJ averages at $0.33 and has bounced nicely since the start of 2020’s crypto bull run.

Most ICOs from 2017 and 2018 who have no future are already gone, considering that no one trades a majority of the cryptocurrencies from that era. But Storj has obviously survived considering that investors still massively trade the token on a daily level.

In the end, everything depends on the performance of the Storj network and what developers bring to the table. But rest assured that from a technical standpoint, STORJ is a great investment that you should keep in mind.

Where to buy Storj?

As a relatively old cryptocurrency, Storj can be found almost anywhere. According to data from Coinmarketcap, the token is available on more than 50 different exchanges. But which one should you choose?

In the cryptocurrency sector, exchanges represent yet another form of risk management. While they are not exactly risk management in the traditional sense, trading platforms still pose several attack vectors and investment risks that you should be wary of.

Exchanges tend to become defunct, hacked and regulated. All of these events present risk factors that may severely affect the state of your investments. Take a look at Mt. Gox, the once-famous exchange used by almost all investors. After only 4 years of operating the exchange went defunct and its users still cannot get their investment back.

Due to the aforementioned reasons, it is extremely important to choose the right exchange. After carefully reviewing the list of trading platforms that support STORJ, I have discovered one exchange that I deemed to be the best in this situation.

Buying Storj on Coinuma

After taking a look at Coinuma and reviewing their platform, I have concluded that they offer the best solution for investing in Storj. With headquarters in Spain, Coinuma is an exchange that offers the simplest and most time-effective way to invest in cryptocurrencies. More specifically, the platform focuses on altcoins, providing a wide range of crypto assets.

What is so great about Coinuma? They offer on making your trading experience simple and intuitive. Coinuma requires no detailed KYC information. Moreover, they reward users with inverse fees for bringing liquidity. What is there not to like?

Creating an account only takes a few minutes, which I will prove in a guide in the next section. After creating an account, you can instantly start trading without having to learn a complex interface. Most exchanges host difficult trading interfaces that are difficult to understand.

While veterans may have a better time understanding how a new exchange works, beginners have to spend way more time. So, why not trade on an intuitive exchange that you instantly understand?

Now that I have shown you where to buy Storj, I will show you how to buy it as well! Let’s start by creating a brand new account on Coinuma. After that, I will explain how you can deposit funds and start trading.

Registering on Coinuma

If you like what you have heard so far about Coinuma, you can go right ahead and try out the exchange. To register, visit the following link and sign up with all the relevant information. Aside from providing a username and password, Coinuma may also request that you go through a KYC process.

Based on my personal experience, Coinuma requested the least detailed information for its KYC process. This is a really great sign as it shows that the exchange cares about anonymity.

After creating an account, the last thing that you have to do is verify your account. Coinuma will send an email with a verification link, which you have to visit in order to end the registration process. After doing so, you are free to start trading!

Funding your account

Before trading, you will naturally have to fund your account since it is new. Visit the Finances section to find your account’s wallet and you will see a wide range of cryptocurrencies supported by Coinuma.

In this case, you must deposit either Bitcoin or USDT to start trading. On Coinuma, all cryptocurrencies have USDT and BTC trading pairs. If you wish you can also deposit another asset and then exchange it for these two assets since you can then exchange them.

All you have to do is press deposit for any cryptocurrency. Coinuma will show you a unique address for your account, which you have to use when transferring assets from your personal account. Keep in mind that Coinuma only supports digital assets and that it has not yet added fiat funding options.

After conducting a deposit wait between 10 to 20 minutes for the assets to arrive on your account. Once Coinuma shows them in your balance, you can head over to the main exchange section and start trading.

Investing in STORJ

Now that you have money on your account, you can finally invest in STORJ. Visit the main trading section on Coinuma and type STORJ in the search box located in the top left corner. There, select either the BTC or USDT trading pair based on what you have deposited.

Not sure how to find the trading pairs? Visit the following links: STORJ/BTC or STORJ/USDT.

The order creation interface can be located right under the trading pairs list. To invest in STORJ, select the number of tokens that you wish to spend and click buy. The exchange will instantly complete your order and the new STORJ tokens can be then found in your account balance.

See? This was not hard at all. After completing all of the steps above, you are now finally a proud owner of STORJ!

Final Word

Cryptocurrencies come in all shapes and sizes, featuring products that target all sorts of use cases. But so far, big data is the only real use case and niche that has not yet been fully explored with blockchain technology.

Thankfully, the Storj network is on the path to filling that gap by developing a fully decentralized cloud network for sharing and processing data. Why use clunky and centralized data centers which you cannot trust when it is possible to form a community of users who host all sorts of information and data?

After reading this article, you finally understand why data is so important and where to buy Storj. Moreover, you also had the chance to discover a brand new cryptocurrency exchange that truly offers a unique service.

With Coinuma, there is no way for you to go wrong since your trading experience is protected by a reputable and reliable platform With negative fees, limited KYC information, and a simple user interface, you really cannot ask for more.

If you read my guide for buying STORJ on Coinuma, you understand just how easy it is to trade on that platform. But why stop at STORJ? Feel free to do all your trading and investing on Coinuma from now on, especially if you like what you have seen so far.