Storj coin (ticker symbol STORJ) is an ERC-20 Ethereum token that powers the decentralized cloud storage network called Storj DCS. That platform allows users to rent their hard disk spaces to others connected to the wider Storj network.

This guide will explain the background of the Storj crypto project, plus where and how to buy Storj coin. We also review whether Storj is a good investment and make some predictions for the Storj price.

How to Buy Storj Coin – Quick Guide

Storj was recently listed on FCA regulated crypto platform eToro. It requires a minimum deposit of $10. To invest in Storj follow these steps:

  1. Step 1: Create an account: Visit the official eToro website. Create an account using the quick sign up process. Provide an email address and upload the required KYC documents.
  2. 💳 Step 2: Deposit: eToro allows deposits via fiat currencies using payment modes such as credit/debit card, PayPal, Bank transfer or eWallet.
  3. 🔎 Step 3: Search for Storj coin: Go to the eToro search bar and enter “Storj”. Click on the “Trade” button. eToro will direct you to the Storj investment page.
  4. 🛒 Step 4: Buy Storj: The final step is to enter the amount you want to invest in Storj. Then press “Open trade” to confirm the buy order.

Where to Buy Storj Token – Best Crypto Platforms

Storj is available to purchase on several crypto exchanges. The four best crypto platforms to invest in the titular cryptocurrency or other crypto assets are listed below.

1. eToro: Best Overall Platform to Buy Storj in 2022

etoro logoeToro is an online brokerage that created a social media style platform for traders, known as a social trading platform. It allows users to network and interact with other investors and copy the investment strategies of more successful professional traders. That is one of the biggest factors behind eToro’s growth. Today there are over 27 million registered users on this platform.

Since its launch in 2007, eToro has emphasised accessibility and a beginner-friendly UI. With a simple trading approach and low fees, eToro had a trading volume of $1.5 trillion in 2020. New cryptocurrency assets are supported every month. eToro listed Storj on March 1st 2022.

When it comes to fee structure, eToro follows a spread-only approach. Instead of taking a percentage-based commission, it asks for the difference between the buy and sell price of the token or stock on the market. Those buying Storj tokens only have to pay a 1% spread.

Buy storj on eToro

eToro allows fee-free transactions for using its payment methods to buy Storj and other cryptos, such as via debit/credit card, bank transfer, PayPal or eWallets, when buying crypto with USD.

Alongside Storj and many other DeFi coins, eToro has listed more than 60 different cryptocurrencies. The most popular assets include Bitcoin, Ethereum, Solana, Apecoin, Dogecoin, and XRP.

To gain exposure to more coins, you can use its Crypto Portfolio – a package of the best crypto assets created and maintained by eToro. Investors who want to diversify but don’t have time to research the best coins to buy can use this feature to invest in crypto. There’s also a DeFi portfolio and a Metaverse portfolio.

eToro users can learn about investing using either copy trading and the community aspect or the many free educational resources on the platform, that can help beginners learn to trade and practice risk management.

eToro offers peace of mind to investors as it comes under the regulations of several government authorities, including the FCA, CySEC, and ASIC and is SEC compliant, being able to accept United States investors.

Cryptoassets are a highly volatile unregulated investment product. 

2. Crypto.com: Margin Trade Storj

Another exchange that takes a user-friendly approach to buying Storj and 250+ other coins is Crypto.com which launched in 2016. Since then it has become a reputable choice for over 10 million cryptocurrency investors. This exchange listed Storj on September 4th 2020.

When it comes to the features, one thing going for Crypto.com is ease of use. It takes a simple approach to onboard new users – requesting only minimal details and KYC information from them. After signing up at Crypto.com, you can invest in Storj or any other cryptocurrencies without paying any transaction fee for 30 days.

Once this trial period is over some deposit fees can be higher than eToro but unlike eToro it offers margin trading with leverage on perpetual futures pairs, and more indicators for technical analysis (TA) including Tradingview indicators.

Buy Storj on Crypto.com

Like eToro this platform has listed many of the most popular meme coins which can go on explosive bull runs and also the latest metaverse coins shaping the blockchain ecosystem.

Crypto.com also has its native cryptocurrency known as Cronos (CRO). Owning it allows customers to use the goods and services available in the Crypto.com DeFi wallet app and pay lower fees. Users have the option to stake CRO and earn interest on crypto – when staking CRO the maximum APY is increased, up to 14.5% depending on the crypto or stablecoin.

Additional features of crypto.com include using cryptocurrencies for retail purchases by loading them onto the platform’s Visa card, and its NFT marketplace featuring a wide array of digital art.

Cryptoassets are a highly volatile unregulated investment product. 

3. Binance – Trade Storj with a 0.10% Trading Fee

Binance also allows users to invest in Storj quickly and simply. It is the largest cryptocurrency exchange in the industry – having amassed more than 100 million clients. Binance was among the first platforms to list Storj, supporting Storj on November 6th 2017.

Binance exchange has both an international platform and one dedicated to US-based clients, Binance US, and users have two ways to buy Storj using fiat currencies: debit cards and bank transfers.

Investors can use bank transfers or ACH for cost-free transactions. The trade-off is that the transaction speeds will be slower, and it will take a while for the charges to reflect in your account.

Invest in Storj via crypto

That being said, most don’t choose fiat currencies for transactions on Binance as it provides ways to buy to those using a private crypto wallet. You can swap your tokens or USDT (Tether) for Storj at just 0.10% commission.

Compared to eToro, Binance isn’t well regulated by any government authority, but is very popular among crypto traders with a good reputation.

Binance offers a wide array of security tools to keep your account safe, including two-factor authentication every time you log in. Binance has implemented SAFU – Secure Asset Fund for Users. It is an insurance fund that holds a portion of the transaction fees. And in the event of any loss, users are reimbursed.

Binance is also another good option for NFT traders. The Binance NFT marketplace has a wide variety of digital artworks from leading crypto artists worldwide.

Cryptoassets are a highly volatile unregulated investment product. 

4. Coinbase: Another Crypto Exchange Supporting Storj

coinbase logoCoinbase is a popular crypto trading platform for newcomers. Recently shown on Superbowl ads, Coinbase nowhas over 89 million registered users both in the US and worldwide, second only to its main competitor, Binance.

Coinbase listed Storj on 24th March 2021. You can buy Storj at the click of a button on the main Coinbase broker platform although we recommend the lower fees on its exchange platform Coinbase Pro.

To start investing in Storj via Coinbase, you must authenticate yourself as a legitimate investor by uploading KYC documents. Coinbase, like eToro, requires two papers when it comes to documentation: a government-issued ID and residential proof. After verification, you can buy Storj or any other crypto of your choice.

Buy Storj quickly on Coinbase

It is possible to buy crypto on Coinbase with a bank transfer, requiring a standard commission of 1.49% after the funds arrive or debit and credit cards with a fee of 3.99%.

Despite being one of the more expensive brokers on this list, Coinbase has a good reputation for those wanting to buy crypto online. As a listed public company, it follows regulatory standards of various authorities in the US. And it keeps 98% of client’s digital assets in cold storage, giving an extra layer of security.

In addition to Storj coin, Coinbase supports over 100 cryptocurrencies. For investors on the move, Coinbase has a dedicated mobile app, downloadable via the website.

Cryptoassets are a highly volatile unregulated investment product. 

What is Storj?

Storj is an ERC-20 Ethereum token powering Storj DCS, a decentralized cloud storage network that aims to compete with the likes of centralized cloud storage systems offered by Amazon, Google, Microsoft Azure, and Dropbox cloud storage providers.

Interested parties can install Tardigrade software on their computers and rent their hard disk spaces to other users connected to the network. In return, the borrowers pay them via the Storj platform.

Tardigrade is open-source software. It is a decentralized object storage service that enables data storage across the Storj network of Storj nodes.

Where to buy Storj

The Storj project is a blockchain-based, end-to-end encrypted cloud storage system. It uses a decentralized network of nodes to host user data and secures the hosted data with advanced security measures.

An Atlanta-based software developer founded Storj in May 2014 after realising the potential of blockchain technology to create non-centralized cloud storage. It started as a concept in the whitepaper published in December 2014.

The original vision was to create a peer-to-peer encrypted cloud stage platform. Two years later, in 2016, a new whitepaper was released describing a decentralized network that connects those in need of extra space to those with hard drive space to rent.

The second white paper was realised with the platform’s release in 2018. This platform allows people with ample hard-drive space (several terabytes worth) and a good internet connection to participate in the network. By paying a starting fee, they can connect with the network as a node.

Those needing extra hardware space can then connect to these nodes and pay them Storj coins in return. Within the ecosystem, the providers of disk space are known as farmers. They are “farming” Storj tokens by providing storage space.

Because the network is decentralized, there are no slowdowns with 99.99% availability at all times. So, what makes Storj DSC unique?

It is the lack of access the farmers have to the data they are hosting and thus, don’t have the power to alter or view any of them. It is because customers’ files are divided into pieces before being sent out to the farmer’s systems for storage.

Is Storj a Good Investment?

Cryptocurrency markets have always been volatile. Some low cap meme tokens can pump for little reason. Few coins have as much utility as the Storj token, although it may take time for its valuation on the crypto markets to reflect its many use cases. Consider the following points before deciding whether invest in Storj:

Providing a Secure System

Traditional cloud-based projects fall under the control of centralized platforms and authorities. So despite any system owners’ reputation, such systems are honeypots for security attacks. In 2017, the Equifax hack impacted the lives of 123 million American consumers. Storj divides the files across several nodes and encrypts them – decentralization provides much more robust security.

Cheaper Storage Facilities

Storj cloud storage services are considerably cheaper than traditional centralized ones. For instance, 1 TB on Amazon would cost around 23$. In comparison, Storj DSC charges only $15 for 1 terabyte of storage space.

Presence of Other Competitors

Storj’s main competitor in the decentralized storage market is SIA, offering lower prices ($2 per terabyte per month) and also seeing some mass adoption within the DeFi space.

Revenue for Open Source Companies

The farmers are generally not from the general public but rather open-source companies that rely on renting storage spaces for revenue. Storj provides these companies with a source of income.

In summary, Storj DSC provides more secure and cheaper storage facilities than its centralized competitors. Also, it promotes open-source companies by rewarding them with Storj tokens. But the prices of its services are higher than its competitor, Sia.

Cryptoassets are a highly volatile unregulated investment product. 

Storj Price

The Storj price today is just over a dollar, trading at around $1.02 – $1.08. The 24-hour trading volume stands at $18.35 million. According to Coinmarketcap rankings, Storj is at #142 with a market capitalization of $420.3 million.

The circulating supply is 389 million Storj coins. The current all time high Storj price was a brief wick to $3.83.

Storj coin launched at the price of $0.81 in early 2017, and has since then, has seen both highs and lows. The first pump arrived in December of the same year when the price rose by 240%, leading to many on crypto Reddit speculating whether it was genuine interest behind the price increase or the standard “pump and dump” approach common in the crypto ecosystem.

Storj Price

Storj price chart via Coinmarketcap

The highest pump happened in April 2021, when the price saw a 4x increase, reaching over $3. The core reason behind the rise may have been FOMO. But after exploring the utility of the Storj token, it’s also likely people’s interest in this token’s technology is genuine.

Storj Price Prediction

As we observed from the pricing history of Storj, it has gone through several peaks and valleys. Sometimes, the bullish upward trend resulted in a blow-off top, followed by a long correction. The Storj price history has included multi-month bull runs and bear markets of the same length.

The 2022 open was $1.74, and since then the price of Storj has traded sideways and had a bear cycle to retest $0.80, where it bounced. It would take an over 3x increase in value for Storj to retest its ATH level.

People are becoming more aware of the perks that come with decentralized storage however. And as per Lunar Crush, Storj’s social engagement is up by 39%, and social dominance is up by 118%. Such factors can increase people’s interest in Storj, giving its price a much-needed push.

It’s common for altcoins to have several bull cycles and in early 2021 Storj exploded with from around $0.29 to $3.83, a 13x gain in the Storj token price.

If it repeated that in the run-up to the 2024 Bitcoin halving, that would put the price of Storj at over $10 per coin. Storj price predictions are difficult to make however decentralized finance is beginning to see mass adoption, acknowledged by major banking institutions like Goldman Sachs.

Cryptoassets are a highly volatile unregulated investment product. 

Best Ways to Buy Storj

There are multiple ways to invest in Storj. You can opt for fiat currencies using platforms such as eToro, Crypto.com or Coinbase. Or, you can use a crypto wallet to swap your tokens for Storj on Binance.

With that in mind, below listed are the suitable ways to buy Storj in 2022:

Buy Storj with Debit or Credit Card

If safety and convenience are your priorities, the best way to buy cryptocurrencies like Storj is via debit or credit card. But bear in mind the fees.

  1. Platforms like eToro are made for all types of users. They allow the usage of fiat methods – Credit/debit cards, PayPal, eWallets and bank transfers – to provide instant transactions at a low cost.
  2. Platforms like Binance made for crypto veterans charge a high fee if you invest in cryptocurrencies using debit or credit cards.

In the case of Coinbase, debit card charges are 3.99%, a steep amount in the crypto ecosystem. Similarly, Binance charges a high 5% fee – 4.5% for debit card transactions and 0.5% for the instant transfer – to provide crypto investment facilities using debit or credit cards.

Therefore, if you’re considering using cards to invest in cryptocurrency, use eToro or Crypto.com. There is no transaction fee for using debit or credit cards (as long as the currency used is USD) on eToro, and on Crypto.com, the transaction fee is 2.99%.

Buy Storj with PayPal

Security is a major concern for anyone making online transactions. Therefore, many opt for wallets or PayPal accounts instead of providing bank details. The transaction fee you’d need to pay to invest in Storj vary from exchange to exchange.

In the case of Coinbase, the fee is 3.99%. And for eToro, PayPal transaction is free of cost as long as your account holds US dollars.

Buy Storj without ID

Many are wary about uploading personal information on any online website. But the crypto ecosystem is increasingly becoming regulated – which in the long-term is bullish for crypto.

While certain platforms provide a way to trade without KYC, they do so at a limited scale. For instance, you can’t trade beyond $2250 if you’ve not uploaded ID documents on eToro.

Cryptoassets are a highly volatile unregulated investment product. 

Best wallet for Storj

As a token powering the Storj decentralized cloud-based system, it deserves a wallet that is secure, easy to use and provides a fast-transfer mechanism.

One way to store Storj and keep it secure is through hardware wallets such as Trezor or Ledger Nano S. As they are not connected to the internet, these wallets are secure from all hacking attempts. Additionally, accessing your coins from these wallets is easy.

Another option is the eToro crypto wallet, suggested by many as the best software wallet to store crypto assets.

Store Storj on eToro wallet

It gets our recommendation as:

  1. It supports more than 120 cryptocurrencies.
  2. It has in-app conversion functionality and support for up to 500 different crypto pairs.
  3. It has an on-chain unlosable private key allowing quick recovery.
  4. It is a regulated crypto trading platform.

The eToro app and wallet can be downloaded from the links on the official homepage.

Cryptoassets are a highly volatile unregulated investment product. 

How to Buy Storj Coin – Tutorial

Below we take a look at the complete guide to buying Storj coin step by step on a regulated crypto platform.

Step 1: Create a Crypto Account on eToro

Visit the official eToro website and create an account. The process requires you to enter your basic details and takes just a few minutes. After opening your account, you’ll land on your homepage.

Start buying Storj on eToro

Step 2: Submit KYC Documents

You can’t use the full facilities that eToro provides without getting verified as a legitimate investor. Upload a government-issued ID and residential proof.

Storj Account Verification

Step 3: Deposit

After verification, make a minimum deposit of $10 or more. Click on the “Deposit Funds” button. Choose between debit / credit card, Skrill, Neteller, bank transfer or PayPal.

Storj at eToro

Step 4: Search for Storj

The next step is to search for Storj. Enter the search term “Storj” in the search bar. Click on the “Trade” button to move on to the last step.

Invest in Storj on eToro

Step 5: Buy Storj

Enter the amount you wish to invest in Storj. Finalize your investment by clicking on the “Open Trade” button. eToro will then transfer the Storj tokens to your wallet.

Get Storj token on eToro

Cryptoassets are a highly volatile unregulated investment product. 

How to Sell Storj

Selling Storj follows a similar process to buying Storj on eToro. Click the ‘Trade’ button again when you’re ready to take profit and enter a limit order to specify a sell price, or sell instantly at the current market rate and bid / ask spread displayed.

You may be eligible for capital gains tax when you realise profits by selling a cryptocurrency, depending on your country of residence.

Conclusion

Storj is a decentralized cloud storage platform built to address the underlying weaknesses of the current centralized storage systems on the market. Its approach to reward the farmers – providers of storage spaces – should increase the Storj token’s valuation over time and potentially make it a good investment.

If this cryptocurrency interests you, we recommend using eToro. Since Storj has a volatile price action it’s useful to join a social trading platform where professional investors can be interacted with and copytraded. All users have their own profile and can access a news feed where other traders post their thoughts on current market conditions and what a good entry price for coins like Storj might be at a given time.

etoro logo

Cryptoassets are a highly volatile unregulated investment product. 

FAQs

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