How to buy a LOOM network?

As a cryptocurrency enthusiast, I'm curious about the process of acquiring tokens from emerging projects like the LOOM network. Could you elaborate on the steps involved in purchasing LOOM tokens? Specifically, I'd like to know which exchanges support trading of LOOM, what are the necessary prerequisites for setting up an account on those exchanges, and whether there are any particular security measures I should take into consideration during the purchasing process. Additionally, would you recommend using a cold storage wallet to safely store my newly acquired LOOM tokens, or is a hot wallet sufficient for this purpose? Your guidance in navigating this process would be greatly appreciated.