2021 has been the blooming year for all fresh and fairly reputable native tokens. WAX has been that deal option to go for in 2021. Officially launched in 2017, it has become a blockchain giant. What is the major functionality of WAX?
Well, the main task is quick fulfillment of transactions and conducive use for everyone, be it a beginner or a seasoned trader. Check out DPoS, facilitated by blockchain. DPoS is the ultimate source of the consensus. WAX also supports EOS, which is good for that extra extension.
When you look at blockchain utility throughout the experience, you will notice that developers tried to optimize and facilitate enhancement through the use of incentive mechanisms. This is very important especially for people who utilize more of the e-commerce system. NFT and DeFi operations are all on point looking at the fact that developers encompassed blockchain-based tools.
Remember we talked of e-commerce and it’s also possible for traders to facilitate cloud wallet, SSO, and OAUTH. A lot is on offer from WAX, including a fast and reliable blockchain mainframe construction that only takes 500 milliseconds block time.
Expect practical voting opportunities when you move towards incentive participation. Thanks to developers who brought about WAX to facilitate massive blockchain access. It’s all because of two men, William Quigley and Jonathan Yantis. This article is tailored to you detail on the best place to buy WXAP tokens, buying WXAP process, and all the security details attached to it. Let us look at the next segment
Quigley and Yantis reputation
These two were the co-founders of WAX. Looking at the historical background, Quigley was a student at the University of California in the ’90s. He got a job at Disney for a certain period and then moved on to Harvard.
He managed to get an MBA and managed to become a venture capitalist. His reputation has been building up from then looking at the fact that he is the managing director for Idealab and managing director for Magnetic.
Looking at Yantis, he currently operates on two ventures. One, he is the executive operating officer at WAX and at OPSkins he is the chief in the operation sector. You might be asking yourself why we decided to give you a brief background of these two. Well, it’s for your own benefit and the rest of the WAX community. To have so much guarantee when transacting WXAP token. Let us look at the quick guide.
A quick guide on buying WAXP token
There are many ways of purchasing WAXP tokens but in this instance, we shall focus on an easy one. This is for the benefit of everyone, be it newbies or seasoned traders. It’s also possible to purchase with a debit or with a credit card depending on where you are located. Binance is also important in the purchasing process due to its compatibility with many cryptocurrencies.
Step 1. Create an account on Binance
Creating a Binance account is one of the easiest processes. Make sure that you complete the KYC procedure. It takes a couple of minutes though it can take a bit longer due to crypto jammed traffic.
However, this process is very important because you get to provide personal security information. Activate a 2FA authentication security process for that extra guarantee of safety. Binance is important in this instance because it allows crypto to crypto and fiat to crypto transactions. This feature is important because the WAXP token can not be purchased directly with fiat.
Step 2. Deposit funds into your account
Firstly, log in to your activated account and check out the deposit link, an option position on the actual homepage. Insert the exact amount you need to purchase. Check out your address, which is a strain of randomly displayed numbers and letters. The address is your passport to purchasing your crypto of choice on the available exchange.
Step 3. Buy WAX
Make sure that you enter the amount of WAX you need to purchase. Purchasing pages were designed in such a way that traders view crypto pairings. That way you are able to view the actual equivalent value of WAX.
Check out the charges and then confirm your amount. Finalize your transaction. A message of confirmation will be sent to your email address. Congratulations, you have purchased your initial WAXP token!
Exchanges to buy WAXP
Binance
Binance has been dominating the scene. One of the biggest advantages offered by Binance is that of lower fees. Exchanges charge little while users enjoy high liquidity charts that make possible instantaneous purchases and selling in a moving market.
Luckily, many countries across the world allow Binance operation on THORChain, these include Australia, Singapore, and the UK while those from the USA are barred. Though Binance is barred from the USA, it still maintains large customer bases in many countries across the world and it looks highly probable that it will grow so huge to disband any form of competition.
Step-by-step Buying Guide
- Create an account
- Complete KYC process
- Add funds to your wallet
- Buy your crypto
KuCoin
Since it was launched, KuCoin has grown to become a top crypto exchange that serves worldwide. The platform offers features that are quite impressive, including the following:
- Fiat onramp
- Passive income services
- Margin trading exchange
- Futures
- Crypto crowdfunding
- P2P marketplace
- Non-custodial trading
Step-by-step Buying Guide
- Make sure that you log in and opt for a spot on the tab
- To make MIR transactions, make sure that you choose the BTC market
- From then on, more focus on Mirror Protocol which has a proper tab. Create a trading pair consisting of Mirror Protocol/BTC
- Password is always key when purchasing
- Insert your password to ensure proper security
Huobi
Established in 2013, Huobi Global has been good at taking up the crypto market by storm. At some point, Huobi had collected $1 trillion. Reaching over 130 countries, Huobi has become a trending exchange in this hub of competitive exchanges. Unfortunately, USA customers can not access it. If you are looking for that Ultimate Mirror Protocol, Huobi is the best option to go for.
Step-by-step Buying Guide
- Click on Buy Crypto
- Choose Buy and select the crypto or fiat that you want to buy
- Select Wallet Balance to use as your payment method
- Confirm all the details and click confirm
Bittrex
Bittrex is the ultimate US exchange that has broadened its tech to over many countries. You can expect over 190 cryptocurrencies that are governed and regulated by US crypto policies. There is a lot of guarantees because Bittrex regulators have modeled this crypto exchange with the idea of giving traders a chance to engage a friendly user interface. Small transactions charge a 0.25% fee.
All you have to do is register as an account holder, supply your details and then log in. A KYC process is mandatory before you submit your documents. Remember, Bittrex is a crypto-only site meaning that traders can only trade crypto not fiat. Does not permit EURO, GBP, or USD payment modes. Bittrex offers ultimate solutions for newbie hectic challenges.
Step-by-step Buying Guide
- Purchase BTC/ETH
- Create an account on Bittrex
- Deposit your base currency
- Select your base currency market
- Set buy orders and proceed
Bithumb
Bearing its origin in Korea, Seoul to be exact, Bithumb has been in the game since 2013. Bithumb has many Korean entities that have broadened their reach including BTC Korea.Co.Ltd. It is a company responsible for making ease of cryptocurrency trading.
Though BTC seems to be the major crypto, the company also offers a lot of altcoins but no one can forget that Bithumb is one of the largest and expanding BTC trading companies. It speaks volumes. It is a Korean giant that continues to bring more and more selection on how to purchase RUNE.
Step-by-step Buying Guide
- Sign up on Bithumb
- Verify your details and confirm your account
- Start trading or upgrade your account
Gate.io
Next is Gate.io. This is a more ideal exchange that has a lot of guarantees. The most fantastic feature of Gate.io is the user interface. Very friendly to beginners and they can actually move up the charts to become specialists and professional technical traders.
Gate.io was launched in the year 2013 and from then it has been creating a huge base of altcoins for many users. You can easily maneuver in the market with Gate.io. For those trading in the USA, this is the best choice.
Step-by-step Buying Guide
- Sign up for an account
- Complete the KYC verification process
- Fund your wallet
- Choose a trading pair and buy
How WAX Protocol is different
When you look at each and every crypto-based operation, you will notice that unique feature set one from the other. This is so because native tokens are designed, launched, traded, and accessed by different users. Let us look at features to expect on WAX.
- expect fast transaction between Ethereum and WAXP token
- the WAXE token can also be transacted from the WAXP token
- WAXE can also be obtained in meaningful amounts by burning WAXP tokens. The process is bundled in tokenomics of WAX
- The WAXE token must be placed on an Ethereum contract to officiate distribution
- expect WAXG which is an ERC-20 token usable for governance
- Looking at WAXE distribution to the rest of the community, there is a set timetable that allows the proportional transfer of WAXE considering pool guidelines
- with governing powers and privileges in hand, traders are able to make solid decisions on distribution
What is the WAX Economic activity pool?
WAXE pool is perfectly described as a smart contract. Its main function is to contain WAX charges in a percentage format. This platform also allows possible translations of WAXE into Ethereum so that it’s possible to send to other investors.
Things to consider before buying WAXP
Cryptocurrency as a whole is changing and shifting to other dimensions, so is WAX. Traders and investors must understand that investing should not be a hurried attempt. Make sure that you scrutinize important factors if you want a guided investment. This segment is meant to give you those factors in detail.
Use
By now you know that WAXP is a native token located on the WAX platform. This means that when obtained, traders are able to perform a set of functionalities and activities. A recent study on white paper revealed that WAX is meant to facilitate sending of digital assets, formation of smart contracts, and voting abilities in what are called WAX guilds. You are also free to use WAX tokens when carrying out transactions.
The team behind the project
Remember we detailed a brief historical background of both Yantis and Quigley and their respective posts in WAX and other crypto-based firms. The team behind the making has a lot of reputable experience.
They have been in the development industry for a long time and they actually know what to do when DeFi and NFT platforms are fluctuating. Producers at WAX have a large reputation in marketplace development. Not only that but experience also boasts of gaming integration and efficient community foundations. There is a whole lot to expect from the men behind WAX.
Size of the gaming community
A current review showed that there are actually 400 million online gamers who are able to perform transactions on online platforms. The industry has grown large, reaching an alarming $50 billion peg. This is a simple stat that online platforms are growing.
White paper
The white paper has all the important details you have to know concerning WAX and how it has been selected by many traders across the world.
Commercial partnerships
Commercial partnerships are very ideal because traders have an idea of where the market is heading. Examples of such lucrative joints include a 2017 partnership with a reputable video game designer. They also went on to partner with Xsolla. The deal was lucrative because Xsolla allowed the use of the WAX token as a mode of payment.
Competition
The WAX industry is fastly growing into a giant. This means that many traders are entering the marketplace to grab meaningful market share. Look for possible competitors and check out how they do their thing.
Where to store WAXP token
Hardware Wallets
The best three hard wallets around are Trezor, Ledger (Nano S and X), and KeepKey. For more information on hardware wallets, check out the detail below.
- cold tools of storing cryptocurrency
- perfect encryptions for storing private keys and assets
- compatibility with many currencies
- they are not only safe but have reputation and convenience
- however, top-class services mean cost, in simple terms traders and user’s can not expect free use
- hardware wallets are free from hacking and cyber attacks
Hardware wallets considerations
If you wish to have an efficient storage package for WAX and other related cryptocurrencies, we advise you to obtain a wallet from an official producer. They are not only new and fresh but they come with an adjustment option so that users reset and place options for their own desired settings.
Remember that your wallet resembles your portfolio. So if you have a convincing portfolio nothing can go wrong. Make sure that you obtain and activate a CryptoTag security titanium plate meant to secure your wallet. CryptoTag is virtual and readily available so do not worry about accessibility.
Hot/Cold Wallets
Before we delve deep into hot and cold wallets, we have to define a crypto wallet for you. Crypto wallet is a software package programmed to enable private key protection, cryptocurrency protection, and tracking of assets balance.
We have to say that, hot and cold wallets have their own respective shares of characteristics. Below we respectively look at them.
Hot wallets
Hot wallets require an internet connection for operation. Their main task is to facilitate browsing trades which also demand a good internet connection. Examples of hot wallets include cloud-based, mobile-based and software-based wallets
Pros
- fast way of transacting
- convenient for short term trades
Cons
- vulnerable to hacking and cybercrime
Cold wallets
Unlike hot wallets, cold wallets are offline packages. They are linked with blockchain services. Examples of cold wallet setups include USB and external drives.
Pros
- ideal for private key protection
- cannot be hacked
Cons
- they are expensive to operate
It is an advantage for many traders to know that hot and cold wallets can be used at the same time.
Paper Wallet
When you are looking for that ideal offline storage platform for bitcoin balance, paper wallets are your best option. Paper wallets have been there since the early days of cryptocurrency entrance on the market.
They are not linked with the internet which is totally different from hot wallets. However, storage of physical bitcoin is still impossible. Paper wallets are well known for their extra ability to secure private keys.
Privacy and security tips
The cryptocurrency market has become a two-sided digital phenomenon. On the one hand, it’s very lucrative, open, vibrant, and excitingly rewarding. On the other hand, you have bias, hacking, risks, scamming sagas, and cybercriminals.
However, with such a volatile and fluctuating industry, traders should know those market movements are always to the traders’ advantage. As the cryptocurrency market is entering another dimension, hackers always try to come up with penetrative ways. Let us give you tips to follow when you need a vanguard from fraudulent perpetrators.
Use a secured network
Do not use a public network when trading. This is biased because the chances of compromise are very high. We recommend VPN. It is efficient in keeping safe browsing history and you are also able to make fast transactions.
Use more cold wallets
As we have shown you in the segment above, cold wallets are free from cyber attacks due to the absence of an internet connection. This means that private keys are more than safe as compared to vulnerable hot wallets which are more of a short term exposed transaction option.
Do not repeat a password
Many have a tendency of using the same password on many crypto-based accounts and social media accounts. That is very disastrous because hackers are able to track down the trend.
Conclusion
WAX is that ideal portable destination if you are looking for the ultimate Ethereum based smart contract platform. Thanks to Yantis and Quigley who made WAX a success. Availability of NFT and DeFi connection is all there to officiate good enhancement of WAXP rewards. Buy WAXP now using your payment mode of choice, even with PayPal, and enjoy!
