How To Buy Waltonchain | Ultimate Guide To Buy WTC
Waltonchain (WTC) is the native cryptocurrency of the Waltonchain blockchain. This project aims to combine blockchain, RFID, and IoT (Internet of Things) technology. The development team develops and produces Transaction ID-reading RFID chips. Thanks to these, Waltonchain can achieve enhanced operational efficiency. It has gained usage in the supply chain sector, especially for high-end clothing identification, food & drug traceability, and logistics tracking.
We have written this comprehensive WTC guide to help you understand every aspect of its trading and investment. This guide will make it easy for you to trade or invest in WTC, and we have provided enough data to help you make smart investment decisions.
5 Steps to Buy Waltonchain with eToro Now
Buying any cryptocurrency with eToro is easy, simply follow the steps below:
1Sign up for free with eToro, entering your details in the required fields.
2Fill out the questionnaire, this is both educational for you and eToro.
3Click 'Deposit', you'll then be asked how you want to fund your account.
4Choose your required payment method, follow the simple steps to link your payment.
5Enter the amount you want to deposit and you're good to go!
Our Recommended Platform to Buy Waltonchain
Your presence here signifies that you wish to learn about the WTC coin and the various ways you can safely trade and invest in it. To achieve your goal, we urge you to read the entire post to obtain the necessary information to help you make smart trading decisions.
We have also anticipated that some of the readers might already have enough information about WTC and want to get started with trading it. If you fall under this group, we have made your work easier by picking the best platforms to start your WTC trading journey. You can choose from the list of our recommended platforms to start trading.
Where to Buy Waltonchain in 2021
Waltonchain is a crypto project that has the vision to combine the blockchain world with the internet of things. If you are confident in the long-term potential of what the development team is doing, then you might look to buy the coin and hold it. In this case, crypto exchanges are where to buy Waltonchain. With exchanges, you are buying the actual WTC coins, and you can store them in your exchange wallet or move them to a private cryptocurrency wallet.
However, if you are not convinced of the long-term fundamentals of Waltonchain, you can still make money from the cryptocurrency. However, it would help if you looked to crypto brokerage platforms to buy the WTC coins. Crypto brokers allow you to invest in WTC for the short term without the need to hold or store the actual coins. This way, you can benefit from the price performance of the cryptocurrency but avoid going through the stress of holding it.
How to Buy Waltonchain with a Broker
Cryptocurrency brokers have become excellent go-to sources for people to gain exposure to a wide range of cryptocurrencies. However, their mode of operation differs from the regular crypto trading platforms. With brokers, you are betting on the performance of cryptocurrencies via financial products such as contracts for difference (CFDs) or futures. This means that you are not buying the actual coins.
The crypto market is still in its early stages, and many scam projects are out there. We advise caution when trading with crypto platforms, especially unregulated ones. The reason why we recommend using a regulated broker is that they ensure the safety of your funds around the clock. Please do your own research to find out the regulatory status of an exchange before using them. If they are not regulated, we advise you to stay away from them. In addition, do more research on the broker's services such as their liquidity, security, user interface and others.
1. Register with the Broker
Buying the WTC coin with a broker starts by opening an account with a crypto broker of your choice. Usually, cryptocurrency brokers have easy registration processes. Most of them, including Pepperstone and eToro, usually demand a username, password, and email address to get you started. We will continue to emphasise security because it is essential to you as a trader or investor. To ensure the safety of your brokerage account, we recommend using a password containing 6-20 characters with a minimum of one capital letter, number, or symbol for maximum safety. Only use a broker whose registration process you approve of.
2. Verify your Identity (KYC Process)
Our policy is to only recommend regulated brokers, and this means that you will have to verify your account after signing up with any of them. The regulated brokers comply with the necessary regulations such as the standard KYC (Know Your Customer) and anti-money laundering (AML) protocols. Once you verify your account with a broker, you can enjoy certain features such as withdrawal of funds or access to the trading sections of the platforms.
The account verification process could involve submitting an official ID like a driving license or a passport, some proof of residence, and sometimes even proof of earnings. After going through this step, your account will have a greater level of protection for your personal data and funds. Verifying your brokerage account takes only a few minutes, and some brokers activate your account in less than 24 hours
By adopting the AML and KYC regulations, the cryptocurrency space shows the adoption of a professional approach towards financial market investment. This is why several crypto service providers have implemented these verification requirements.
3. Deposit Funds with your Preferred Payment Method
Your account verification is followed by funding your brokerage account using any of the payment methods offered by the broker. Before you do that, you need to consider a few factors to help you decide the payment option to use.
- Speed of transactions
- Availability of the payment option in your country or on the broker/exchange
These conditions usually play a role in determining the payment option you choose. PayPal is popular because of its low fees. However, it is not readily available in all countries, and some platforms don't support it. Credit and debit cards are the most widely used, and transactions are processed within minutes. However, you have to contend with higher fees when you use them. Bank transfers have low fees, but you must be willing to wait for days for the funds to reflect in your brokerage account.
4. Open a Position to Long/Short Waltonchain
With the funds in your brokerage account, you can either short or long the cryptocurrency. Knowing the difference between shorting and longing can help you make smart trading decisions. If you are confident in the Waltonchain project and see its price increasing massively in the coming months or years, you can buy and hold the coin for the long term. This implies that you are opening a long position on WTC.
However, if you feel differently and see the coin's price dipping in the coming months or weeks, you can short the cryptocurrency. This means you are betting on WTC's price to decline within a stipulated period. If you are right, you stand to make a profit from your prediction. Understanding the difference between short and long can help you leverage both to make profits from WTC trading.
You need to implement risk management techniques if you are shorting or longing WTC. The trading limits such as take profit and stop-loss are designed to help you exit favourable or unfavourable situations at the right time. This usually ensures you enjoy your profits or avoid further losses on your trades.
5. Close your Position
In the end, you can close your positions as soon as WTC reaches the desired profit level. This is better achieved by implementing the stop-loss and take profit limits. The broker will automatically close your position once the trade reaches the desired threshold. Using these limit orders is important because the crypto market operates 24/7, and it is impossible for you to monitor the trades at all times.
How to Buy Waltonchain with an Exchange
The best way to get WTC is via cryptocurrency exchanges. This is because crypto exchanges offer more liquidity than other trading platforms. With brokerage platforms, you are not buying the actual coins. However, exchanges allow you to buy and trade the actual WTC coins.
If you intend to hold the WTC coin for a long time, then you should buy from crypto exchanges. However, we always recommend using the services of a reputable crypto exchange that offers excellent trading, deposit, and withdrawal fees.
As always, buying WTC from regulated crypto exchanges is better than from an exchange that lacks regulatory oversight. This helps you avoid issues such as loss of funds. In case of a hack, the regulated exchanges can repay their customers.
1. Set up a Waltonchain wallet
WTC is the native coin of the Waltonchain blockchain. You can set up the WTC wallet with ease, and it takes only a few minutes, depending on the wallet type you choose. Once your WTC wallet is ready, you can buy and store the coins almost instantly.
- Exchange/Online wallets: They are the most popular because some people that purchase WTC from exchanges prefer to leave it in their exchange wallets. However, the exchange and online wallets don't offer a very high level of security, evidenced by exchanges losing billions of dollars to hacks in recent years. We recommend storing your WTC coins on exchanges if you will be trading them regularly.
- Desktop wallets: These are software programs on your computer that allow you to hold WTC coins. Ensure that the desktop wallet of your choice supports WTC and has excellent security protocols.
- Cold wallets: These are the best type of cryptocurrency wallets. The cold storage wallets offer unparalleled security. Security is needed if you intend to hold the WTC coins for the long term. Cold storage wallets are hardware devices, similar to flash drives. Ledger, KeepKey, and Trezor are the most widely used cold storage wallets.
As we emphasised earlier, the safety of your WTC coins should be your number one priority. This is why we recommend using a cold storage wallet and adding extra security measures such as two-factor authentication (2FA). Your cold storage wallet must also have a strong password, and you need to store your keys in a secure place. You can learn more about how to protect your crypto cold storage wallets here.
2. Choose and Join an Exchange that Offers Waltonchain
Cryptocurrency exchanges only list a fraction of the total cryptos available. Hence, finding an exchange that supports WTC is essential before you start trading it. As one of the top 500 cryptocurrencies, WTC is available on exchanges such as Binance, Bithumb, Huobi Global, KuCoin, Okex and WazirX. Analyse the features of each exchange and choose the one that is best suited to your trading and investment style.
3. Choose Your Payment Method for Buying Waltonchain
After choosing the exchange to use, the next step is to select a payment method and fund your exchange account. Debit and credit cards are very popular and available on almost all crypto exchanges. They allow you to fund your crypto exchange account, and the funds reflect within minutes.
Other payment options include bank transfer and PayPal. The PayPal option is not available on all exchanges, while the bank transfer method usually takes days for the funds to reflect in your crypto exchange account.
After funding your exchange account, you can use the funds to purchase WTC directly or via other leading cryptos such as BTC, BNB, USDT, or ETH. Always ensure that the crypto exchange you are using is regulatorily compliant. This ensures that your investment remains safe at all times.
4. Place an Order to Buy Waltonchain
You can purchase WTC directly using the deposited fiat currencies on some exchanges. You can also purchase leading cryptocurrencies such as BTC, ETH, BNB, or USDT using the fiat currencies and convert the cryptos to WTC. Check the WTC trading pairs on the exchange to see if you can buy the coin directly or by swapping it with a leading cryptocurrency.
5. Safely Storing your Waltonchain
Finally, after buying the WTC coins from crypto exchanges, you should move them to a cold storage wallet. Moving them to a cold storage wallet is important if you wish to hold the coins for a long time. Cold storage wallets offer the best security amongst the available wallet types. However, for those that wish to trade the WTC coins and earn daily profits, you don't have to move them.
Your funds would remain in the cold storage wallet until you are ready to move them. When that time comes to move the funds, you will have to use your wallet's public key. Provide the recipient address, your public key and the amount of WTC coins you wish to transfer. Adding 2FA to your wallet provides you with an extra layer of security.
Should you Buy or Trade Waltonchain?
There is a difference between trading and investing in WTC. Trading WTC on exchanges also differs from trading on crypto brokerage platforms. Once you understand the differences, it becomes easier to know what you want.
What's the Difference between a Waltonchain Exchange and a Broker?
Crypto exchanges operate differently from brokerage platforms. With crypto exchanges, you are purchasing the actual coins and holding them in your wallet. You can also trade WTC against other cryptocurrencies on exchanges. For instance, you can trade WTC against BTC, ETH, BNB, or USDT.
Brokers operate differently. They allow you to speculate on WTC's price performance. In this case, you are not holding the actual coins but trading them as CFDs of futures contracts. The brokerage platforms enable you to gain exposure to cryptocurrencies without holding the actual coins or tokens.
Waltonchain: Long vs. Short Term Investment
Long and short term investments differ. If you are a long-term investor, you are purchasing the WTC coin and holding it for a long time to earn profits. Usually, the holding period could be months or years, depending on the market dynamics. If this is your goal, then crypto exchanges are your go-to platforms to buy WTC and store it on cold storage wallets.
On the other hand, if you wish to earn profits in the short term, you can purchase the WTC coin and hold it for a brief period. You should use crypto brokers if you only seek short-term exposure to the cryptocurrency. Brokers allow you to speculate on WTC's price performance, saving you from the stress of buying and holding the actual coins.
3 Tips to Buy Waltonchain
Although we have touched on various ways to buy WTC, there are a few tips you need to know to become a successful WTC trader.
1. Choose the Right Time and Do Your Own Research on Waltonchain
Take the time to research the Waltonchain project to determine if you wish to be an investor. Doing your research will help you determine if the project has long-term potential or not. To give you all the information, we recommend using several sources for your research. Read expert analysis from multiple sources and keep up with the latest news on Waltonchain. This gives you the necessary information to pinpoint favourable market opportunities and take advantage of them.
2. Comparing Costs to Buy Waltonchain
Trading fees might seem negligible, but they contribute to your trading and investment success. Ensure that you research and compare the rates offered by various exchanges and brokers and choose favourable ones. This will save you from paying higher transaction fees.
3. Safety and Security when Buying Waltonchain
Finally, take the security of your WTC coins seriously. Make sure that the trading platform you are using implements strict security measures and is very reputable. Reputation and security are important because exchanges have lost billions of dollars to hackers in recent years. You don't want to fall victim to such events. Ensure that the exchange or broker offers maximum security measures for your crypto funds.
What is the Best Payment Method to Purchase Waltonchain?
- Buy Waltonchain with cash: Use peer-to-peer (P2P) exchanges to buy using cash
- Buy Waltonchain with Credit Card: Secure, fast, and easy, but incurs fees
- Buy Waltonchain with Bank Transfer: Usually free, and very easy to do
- Buy WTC with Bitcoin: This option is for those who want to buy WTC coins by using BTC
- Buy Waltonchain with PayPal: The most convenient option, but not available everywhere
Other Ways to Buy Waltonchain
The methods highlighted above are the most popular ways to buy WTC. However, there are other options to explore:
- P2P (Peer to Peer) exchanges are often used in the cryptocurrency space. They allow traders to deal with each other directly. The P2P platforms connect the buyers and sellers, permitting them to buy from each other, meanwhile bypassing KYC checks. This allows for anonymity when purchasing.
- Staking: You can also earn WTC via staking. Staking allows you to earn rewards for securing the Waltonchain network just by holding the coins in your wallet. By staking your WTC coins, you stand to earn more coins.
This guide contains the necessary information needed to enable you to start buying, trading and investing in WTC coins with ease. However, we are always searching for ways to make the processes easier for you. Hence, we chose a few crypto exchanges and brokers that support the WTC coin. These platforms are very secure, regulated and very reliable.
Frequently Asked Questions
The amount you invest in WTC is based on several factors. These factors include your risk tolerance, portfolio, and how much you have to invest in the cryptocurrency.
WTC is available on numerous crypto exchanges and brokerage platforms. You can easily purchase the WTC coin on our recommended exchanges.
You can use some of the major cryptocurrencies to buy WTC. Binance Coin (BNB), Bitcoin (BTC), and Ether (ETH) are some of the coins you can use to buy WTC.
You can use the WTC coin to trade against other leading cryptos such as BTC, ETH, and BNB. You can also trade it against fiat currencies like the USD and EUR. Waltonchain allows users to stake their WTC coins and earn rewards in the process.
You can invest in WTC when you feel it is right for you. However, you can check the cryptocurrency's fundamentals to determine if this is the best time to buy the coin. Our crypto guide gives you the necessary information to make smart trading and investment decisions.
If you are holding the coins for a long time, the best thing to do is to transfer them to a cold storage wallet. However, if you want to use the coins to trade daily, you can leave them in your exchange wallet. Just be aware that this inevitably introduces a degree of counterparty risk.
For long-term purposes, storing your WTC coins on cold storage wallets is the best. Ledger and Trezor are some of the best cold storage wallets currently available. However, you can also store your WTC coins on a desktop or exchange wallet that supports the token.
You can get the latest Waltonchain news from our website. We provide you with the latest WTC news and other information. Also, you can get more information from leading news platforms.