XDC Network (XDC) is an enterprise-ready Layer 1 blockchain platform designed to build and scale decentralized apps. Due to the full potential of XDC, many investors have started asking questions like “how to buy XDC Network token (XDC)” and “where to buy XDC.”
If you want to buy XDC but don’t know where to start, you’ve come to the right place. This article will cover the basic steps of buying XDC, as well as other important topics.
XDC Network Token (XDC) Buying Guide
Step 1: Find An Exchange That Supports XDC
To start buying XDC, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support XDC.
Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.
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- Available in North America, South America, Europe, Asia, Oceania, Africa
Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification.
You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.
Step 2: Deposit Funds to Your Exchange Account
Before buying XDC, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.
Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.
Step 3: How to Buy XDC Officially?
Learning how to buy XDC is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the XDC ticker. You can also look directly for XDC trading pairs to save time. Afterwards, just enter the amount of the XDC tokens that you want to buy.
You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.
Everything You Have to Know About XDC (XDC)
The XDC Network (formerly known as XinFin Network) is an enterprise-level hybrid blockchain with EVM functionality. This blockchain platform is capable of launching multi-functional and interoperable smart contracts for thousands of decentralized apps.
Here are the best qualities of XDC Network (XDC):
- Near-zero gas fees for all network services
- Up to 2,000 transactions per second
- Two-second finality
- Delegated Proof-of-Stake (dPoS) protocol
- Lots of apps connected to the ecosystem
- Low energy consumption
- Easy and efficient smart contract implementation
- Effective communication system for private and hybrid states
The XDC Network is currently being used by hundreds of enterprise-grade systems around the world. As the platform moves towards its advanced development phase, it is expected to reach mass adoption over the years.
How Does XDC Work?
XDC, the utility token of XDC Network, is necessary for paying transaction fees within the XinFin hybrid platform. Token holders can also stake their XDCs to support the network and earn continuous incentives over time.
What Makes XDC Network (XDC) Unique?
The XDC Network (XDC) is an esteemed blockchain invited to the Trade Finance Distribution Initiative (TFDI) – an organization that consists of powerful banks and financial institutions. This makes the XDC platform a truly important blockchain that offers enterprise-level solutions with high security and scalability functions. The XDC blockchain was also capable enough to launch the world’s first trade finance NFT.
Due to the EVM compatibility of XDC Network, it has the proper leverage to connect to thousands of decentralized apps and systems. Building Layer 2 projects on XDC is also a straightforward process as long as users can settle the network’s transaction fees. Lastly, the XDC ecosystem offers various rewards for token stakers and node operators.
Who Are the Founders of XDC Network (XDC)?
The founders of XDC Network (XDC) are Ritesh Kakkad and Atul Khekade. These brilliant founders have collective experience in different fields like computer engineering, cloud computing, and serial tech entrepreneurship. More importantly, Kakkad and Khekade were determined to introduce highly secured decentralized payment systems and trade finance options.
What Are the Use Cases of XDC Network (XDC)?
XDC Network (XDC) has simple use cases related to network transaction payments, trading, investing, and staking. Blockchain creators can also rely on XDC to build and scale their projects anytime. Understanding XDC’s use cases will help you determine if the token is aligned with your trading preferences.
Here are the common use cases of XDC:
- Speculative trading
- Long-term investment
- Blockchain and DApp creation
- Staking for rewards
- Medium of exchange
- Payments for transactions
- Tokenization parameters
- Masternode setup
Who Builds on XDC Network (XDC)?
XDC Network (XDC) is meant for entrepreneurs, visionaries, and project builders who need to operate on a stable and secured platform. Since the XDC blockchain has hybrid decentralized mechanisms, it guarantees long-term scalability for all linked systems. The XDC platform also has very low fees compared to other blockchains like Bitcoin and Ethereum.
Official website: https://xinfin.org/
Essential Points of the XDC Network (XDC) Whitepaper
The XinFin Whitepaper explained the grand design of the XDC network. Additionally, the paper covered different topics like technical parameters, rewarding systems, and the network’s long-term potential.
These are the strong points of the XDC Network (XDC) Whitepaper:
- The efficiency of XinFin protocol
- XinFin Masternode system
- XDC ecosystem roles
- XDC security functionalities
- XDC tokenomics
The Best Cryptocurrency Wallet for XDC
After knowing how to buy XDC, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.
You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.
On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.
What Factors Affect My Choice of Crypto Wallet for XDC?
At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.
Check out the important factors affecting your choice of XDC wallet:
- Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade XDC right away.
- Not all wallets support a wide range of cryptocurrencies. The best crypto wallets will let you trade hundreds of cryptocurrencies without limitations.
- When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
- Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
- Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.
Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors
Now that you already know how to buy XDC, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.
When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.
Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.
If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes.
General Market Overview for XDC Network (XDC)
Do you want to learn more about XDC Network (XDC) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!
Additionally, here are some important topics in our blog:
- Trading speculation about XDC Network (XDC)
- The current market prices of cryptos
- Detailed price charts with comprehensive histories
- Whitepaper summaries of cryptos
- Founder profiles and their related works
- Up-to-date cryptocurrency news and developments