How and Where to Buy Constellation (DAG) – Detailed Guide
- What is DAG?
- Step 1: Register on Fiat-to-Crypto Exchange
- Step 2: Buy BTC with fiat money
- Step 3: Transfer BTC to an Altcoin Exchange
- Step 4: Deposit BTC to exchange
- Step 5: Trade DAG
- Last Step: Store DAG securely in hardware wallets
- Other useful tools for trading DAG
- Frequently Asked Questions
- Latest News for DAG
- DAG Price Prediction and Price Movement
What is DAG?
What Is Constellation (DAG)?
Constellation (DAG) is a protocol that uses a directed acyclic graph architecture to achieve a consensus that is, in theory, is capable of infinite scalability. With the DAG protocol and custom state channels, Constellation is driving the evolution of smart contracts by allowing data sources to be integrated into distributed ledger technology (DLT).
The company was launched in 2017 and the DAG roadmap dates back to April 2018. When developing the project, the founding team decided to rethink the usual solutions to many of the problems for existing blockchains, such as scalability and centralization. Constellation is designed to enable the secure processing of big data, offering the ability to connect to external datasets through easy-to-use APIs. Its technology is facilitated by a change in the principle of building consensus via a serverless architecture.
Who Are the Founders of Constellation?
Constellation Labs (CST) was co-founded by four people: Benjamin Jorgensen, Benjamin Diggles, Mathias Goldmann and Wyatt Meldman-Floch.
Benjamin J. Jorgensen is CEO at Constellation Labs. Previously, he was the founding CEO of Klick Push and is also one of the co-owners of MZ Dining Group (Ittoryu Gozu) and the owner of A5 Meats.
Benjamin Diggles is chief revenue officer (CRO) at Constellation. He’s in charge of liaising with governments and enterprises and is also responsible for consortia programs and the implementation of Constellation’s global partnership strategy. Prior to his role at Constellation Labs, Diggles worked for Oracle, Universal Pictures and Disney.
Mathias Goldmann is chief operations officer (COO) of Constellation. Goldmann has previously worked for the European Central Bank and PricewaterhouseCoopers and, in October 2017, became part of Constellation Labs as VP of Finance. Now, as COO, he oversees the development and implementation of business operations. He also sets the policy for the development of Constellation’s corporate culture and vision.
Wyatt Meldman-Floch is chief technology officer (CTO) at Constellation, who developed the Constellation protocol from scratch. Meldman-Floch was an intern and researcher at NASA Ames Research Center and has also worked at companies that include Zignal Labs and Rally Health.
What Makes Constellation Unique?
Constellation (DAG)’s mission is to process big data with maximum scalability, easy integration, low transaction fees and high levels of security. Constellation aims to efficiently process huge datasets in a secure and cost-effective manner.
The Constellation protocol seeks to resolve the persistent challenge of scalability in the blockchain space. The key difference of the project is a capacity to scale in proportion to the number of users and current needs. If a user joins Constellation, the network bandwidth increases in direct proportion.
Constellation uses a consensus model called proof-of-meme (PoM), which is based on the principle of rewarding and selecting nodes with good reputations.
On the Constellation Network, smart contracts run on a Java Virtual Machine (JVM). These contracts serve a similar function to smart contracts on the Ethereum (ETH) blockchain but their logic is somewhat more complex.
In June 2018, the creators of Constellation launched Orion, which allows the community to earn DAG tokens to participate in various Constellation events. The community’s goal is to gather information and content from the web into a single central hub.
The Constellation Network’s architecture consists of several components, including:
- Stars. A basic element for direct interaction between the web and users, which is compatible with mobile devices. All transactions are carried out through this component.
- Star Cluster. Required to participate in the consensus. Each Star Cluster forms local hash blocks, which are processed like ordinary transactions and hashed by Galaxies and Black Holes.
- Galaxies. These are isomorphic and behave like validators. Galaxies dedicate resources to Stars and maintain nodes’ reputations. Galaxy metadata is collected in Black Holes and the network's blockchain history is stored in Galaxies.
- Black Holes. These are groups of hashed blocks.
To summarize its key features: Constellation is focused on big data validation, big data notarization and scalable interoperability.
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How Many Constellation (DAG) Coins Are There in Circulation?
Constellation (DAG) is the native token of the Constellation Network. As of October 2021, the total supply is limited to 3.71 billion tokens, with 1.27 billion in circulation. The DAG token ICO ended on June 15, 2018.
DAG was created as an ERC-20 token, which offers seamless communication between government channels and nodes and connects multiple network components.
In addition, Constellation’s developers have launched a native crypto wallet called Molly, which is designed to enhance user experience.
How Is the Constellation Network Secured?
In what can be taken as a testament to its security, Constellation (DAG) and the U.S. Air Force signed a deal in summer 2019 to automate the latter’s big data management. Constellation built on this further in the summer of 2021 and will now provide end-to-end security for communications between the U.S. Department of Defense and its commercial partners.
In terms of technology, Constellation cooperated with Kinnami Software to leverage its Hypergraph Transfer Protocol in order to create a robust, data security product based on blockchain encryption and distributed data management.
Constellation's Hypergraph can scale by adding nodes to the network using its DAG architecture and Proof of Reputable Observation (PRO) consensus. Everything on Constellation is handled automatically by smart contracts that provide microservices using the existing codebase in the JVM ecosystem.
Where Can You Buy Constellation (DAG)?
As of October 2021, Constellation (DAG) is available to buy, sell, and trade on several crypto exchanges, among them KuCoin, HitBTC, LCX Exchange and Hotbit.
Want to keep track of DAG prices live? Download the CoinMarketCap app.
Learn more about crypto terms and definitions using the CMC Crypto Glossary.
Read the CoinMarketCap blog for the latest crypto market updates, announcements, insights and news.
DAG was first tradable on 20th Jun, 2018. It has a total supply of 3,711,998,690.36. As of right now DAG has a market capitalization of USD $unknown. The current price of DAG is $0.199 and is ranked 134 on Coinmarketcap and has recently surged 28.19 percent at the time of writing.
DAG has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy DAG.
Step 1: Register on Fiat-to-Crypto Exchange
You will have to first buy one of the major cryptocurrencies, in this case, Bitcoin (BTC). In this article we will walk you through in details two of the most commonly-used fiat-to-crypto exchanges, Uphold.com and Coinbase. Both exchanges have their own fee policies and other features that we will go through in detail. It is recommended that you try both of them and figure out the one that suits you best.
Select Fiat-to-Crypto Exchange for details:
- UpHold
Being one of the most popular and convenient fiat-to-crypto exchanges, UpHold has the following advantages:
- Easy to buy and trade among multiple assets, more than 50 and still adding
- Currently more than 7M users worldwide
- You can apply for UpHold Debit card where you can spend the crypto assets on your account like a normal debit card! (US only but will be in the UK later)
- Easy to use mobile app where you can withdraw fund to a bank or any other altcoin exchanges easily
- No hidden fees and any other account fees
- There are limited buy/sell orders for more advanced users
- You can easily set up recurring deposits for Dollar Cost Averaging (DCA) if you intend to hold cryptos long term
- USDT, which is one of the most popular USD-backed stablecoins (basically a crypto that is backed by real fiat money so they are less volatile and can be treated almost as the fiat money it's pegged with) is available, this is more convenient if the altcoin you intend to buy has only USDT trading pairs on the altcoin exchange so you don't have to go through another currency conversion while you buy the altcoin.
Type your email and click 'Next'. Make sure you provide your real name as UpHold will need it for account and identity verification. Choose a strong password so that your account isn't vulnerable to hackers.
You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.
Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, UpHold is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.
Step 2: Buy BTC with fiat money
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees.
Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose Bitcoin, click preview to review your transaction and the click confirm if everything looks good... and congrats! You've just made your first crypto purchase.
Step 3: Transfer BTC to an Altcoin Exchange
But we are not done yet, since DAG is an altcoin we need to transfer our BTC to an exchange that DAG can be traded. Below is a list of exchanges that offers to trade DAG in various market pairs, head to their websites and register for an account.
Once finished you will then need to deposit BTC to the exchange from UpHold. After the deposit is confirmed you may then purchase DAG from the exchange view.
Last Step: Store DAG securely in hardware wallets
Ledger Nano S
- Easy to set up and friendly interface
- Can be used on desktops and laptops
- Lightweight and Portable
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
Ledger Nano X
- More powerful secure element chip (ST33) than Ledger Nano S
- Can be used on desktop or laptop, or even smartphone and tablet through Bluetooth integration
- Lightweight and Portable with built-in rechargeable battery
- Larger screen
- More storage space than Ledger Nano S
- Support most blockchains and wide range of (ERC-20/BEP-20) tokens
- Multiple languages available
- Built by a well-established company found in 2014 with great chip security
- Affordable price
If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your DAG for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.
Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.
Frequently Asked Questions
Can I buy DAG with cash?
There is no direct way to buy DAG with cash. However, you can use marketplaces such as LocalBitcoins to first purchase BTC, and finish the rest of the steps by transferring your BTC to respective AltCoin exchanges.
LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.
Are there any quick ways to buy DAG in Europe?
Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold.
Are there any alternative platforms to buy DAG or Bitcoin with credit cards?
Yes. is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.
Read more on Constellation's fundamentals and current price here.
Latest News for DAG
