Buy Santiment 2021 – How And Where To Buy Santiment Right Now

Introduction

The first thing to understand about Santiment is that it is not a cryptocurrency. Santiment is a crypto analytics platform – think of it as the Bloomberg of cryptocurrency. The Santiment Network provides crucial crypto data for everyone from journalists to long-term investors and data traders.  

Santiment does have its own digital token: SAN. Alongside being an online toolkit for crypto traders, Santiment is also a potential investment. Before we cover how to buy Santiment and where to buy SAN, let’s delve into an overview of the network.  

Defining Santiment

Santiment is essentially an online database of the on-chain metrics, patterns, and trends affecting the cryptocurrency markets. (“On-chain” refers to any transactions recorded on the blockchain and therefore visible to all the nodes on the network.) Whether you need an eagle-eye analysis of the performance metrics of an altcoin in which you’ve invested, or you simply want an overview of how the crypto market is doing, Santiment is your best bet.  

Sure, there are forums you can consult, and the internet is crawling with crypto analysts salivating at the opportunity to give you the down-low on the “Top 10 Cryptocurrencies to Invest in Right Now” and similar titles. Bear in mind that not all of the advice you read will be objective. There are plenty of traders out there who have invested more than a pretty penny in a cryptocurrency and would gain by you doing the same.  

Santiment aims to provide readers with an unbiased and reliable source of information on over 1,500 cryptocurrencies. The platform offers bespoke on-chain metrics and an up-to-the-minute data feed of information relevant to the cryptocurrency market. Or in Santiment’s own tweet: “an objective, data-driven analysis about what the encouraging (and discouraging) signs are forming behind the curtains in the #crypto markets.” When you visit their homepage, Santiment sounds like a kind of disinformation-busting truth warrior, the Edward Snowden of the cryptocurrency world. Their corporate “mission” is:   

To eliminate information asymmetry in the crypto ecosystem. Blockchain technology is changing the world, but there’s still a concerning lack of credible, actionable information on the crypto industry and its major stakeholders.

The Santiment platform uses a fusion of machine effort (price and volume data, social media reports) and human insight through the audits, research, and analysis of their team and growing community.  

Of course, even honesty superheroes need to pay their bills. While the basic Santiment is free to access, many of the most impressive features are followed by that expensive word “Pro” and its accompanying price tag.  

Santiment Explained

The best way to understand how Santiment works is to run through their products and key features.  

Sanbase

The Santiment database is a crowdsourced goldmine of insights into the cryptocurrency markets. Where volume of information is concerned, Santiment is the go-to portal for cryptocurrency. There may be a more comprehensive source of crypto information somewhere on the internet, but we haven’t found it yet!  

The Sanbase portal uses various on-chain and social metrics to give you a clear window of the cryptocurrency markets. The Santiment metrics and indicators help traders identify upcoming trends and spot market anomalies and opportunities. Sanbase users can also subscribe to the Santiment “Weekly Market Briefs” to get expert insight into the week’s market behavior and best openings.  

SanAPI

Santiment calls this product “one of the most comprehensive crypto APIs on the market.” API stands for “Application Programming Interface,” in other words, two apps talking to each other. This is not quite Facebook shooting the breeze with Twitter, but when you check the weather on your phone or look for a flight with Skyscanner, that is an example of an API.  

SanAPI takes all these inter-app conversations about cryptocurrency and compiles them into a unique, all-in-one source of crypto data. Given that we are talking about a market with an eye-watering total market cap of roughly $1.5 trillion, there are many conversations about cryptocurrency! SanAPI collates over four terabytes of on-chain data on cryptocurrencies. What tokens are in circulation, their size, speed, network growth, and even who are the top token holders? SanAPI gets its data from the nodes themselves. Crucially – no information is lost or changed by coming through a third party.  

As any crypto trader knows, what people are saying about a cryptocurrency is as important as what the coin is doing. SanAPI also provides social data pooled from forums such as Twitter, Reddit, and Telegram. Santiment can even pull data from private chats between traders (territory that is perhaps less Edward Snowden and more NSA!) Nonetheless, all this information is critical if you are a trader heavily invested in one or more altcoins. If you want to check the pulse of a particular coin in the crypto market, you could use SanAPI and check how many times it has been mentioned on social media. You can backdate your data trawl right to when the coin was first launched and set markers and trade bots to flag specific market behavior.  

Sansheets

You can’t underestimate the power of a good spreadsheet in trading. Santiment developed Sansheets as a way for people to visualize and organize their crypto data. Simply install Sansheets as an add-on to a new Google Sheet. You can create custom spreadsheets for your trading portfolios or track your investments.  

SAN – the Santiment Network Token

SAN is the Santiment’s project utility token with a total market cap of $11,072,201. The SAN cryptocurrency is built on top of the Ethereum platform. It launched in 2017 with a total supply of 83,337,000 SAN, of which there are around 62 million coins in circulation.  

Essentially, the SAN token has three purposes on the Santiment network: payment, stake, and reward. You need to pay SAN to access the SanAPI or any of the more advanced Santiment dashboards. You can access the Santiment online challenges by contributing SAN. You can also stake SAN to get access to Santiment products, encouraging users to grow the network. As a reward, SAN is offered in return for users contributing data to the Santiment platform.  

As of August 2019, the Santiment team moved to make SAN holders get a 20% discount on their pricing plans. Of course, given how Santiment has cornered the market in cryptoanalysis and data reliability, many people are looking to buy SAN as a speculative investment.  

Buying Santiment: Where

You can buy SAN tokens from cryptocurrency exchanges. You can use another cryptocurrency to buy SAN, for example, Bitcoin (BTC), Ripple (XRP), or Ethereum (ETH). Today an increasing number of cryptocurrency exchanges will also let you pay for SAN with a credit or debit card, effectively exchanging fiat currency (dollars, euros, pounds, etc.) for the Santiment Network Token (SAN). To use SAN on the Santiment platform, you will first need an Ethereum address to hold your tokens and then a MetaMask wallet to store your SAN.  

After buying SAN, many people will choose to move their tokens offline to a “hardware” wallet. This protects your investment from any online cyberattacks like hacking or ransomware. Remember, however, that the only way to unzip that wallet is with your password – don’t share it but don’t forget it either! Depending on which route you take to buy SAN, there could be a few steps involved to process your transaction and get the tokens into your wallet. There is an easier way to invest in SAN by simply finding a trading platform where you can buy and sell Santiment.  

Buying Santiment: How

Many brokers will let you trade SAN alongside other cryptocurrency pairs. Using a trading platform opens you up to more options. You can speculate on the price changes of SAN without going through the process of purchasing the tokens themselves. For example, you could open a CFD (“Contract for Difference”) with your broker, buying SAN at one price then selling it at another. Find a broker with a suitable suite of trading tools to arm you for the cryptocurrency market.  

Here at TradeOr, you can buy and sell Santiment alongside other cryptocurrency pairs, forex, indices, and commodities. Trade with leverage of up to 500:1, and when in doubt, lean on our superb customer support team by your side 24/7.

Used by seasoned and beginner traders alike, these are a fantastic way to backtest a trading strategy or try your hand at a new market.  

Conclusion

The cryptocurrency market is highly volatile, making it an exciting and potentially lucrative avenue for traders. However, bear in mind that misinformation is rife, and sometimes cryptocurrency rumors are spread deliberately to influence traders towards (or away from) a certain altcoin. For this reason, Santiment is a crucial beacon of light in the cryptocurrency community, and if the SAN token follows its trajectory, it could leave a blazing trail in the coin charts. Before you buy Santiment Network Tokens, it is vital to do your research. One of the best places to do this is Santiment, so long as the platform remains objective about its own token!