How to trade Wanchain (WAN)?
Wanchain (WAN) is a kind of bank in the world of digital money. Asset exchange, transfer of funds and lending — everything that was previously the prerogative of banks can be obtained on this decentralized platform. Let’s take a look at the projects’ features, growth prospects, as well as the best platforms for buying and exchanging WAN.
What is Wanchain (WAN)?
WAN is a decentralized cryptocurrency based on the Ethereum blockchain, which is the native token of the Wanchain project. The platform is a distributed financial market of digital assets that combines various digital assets and blockchains in its network. The Wanchain platform is a way to cope with the limited functionality of each individual cryptocurrency.
Wanchain is focused on providing a wide range of services: communication between other blockchains, conducting cross-chain transactions, development of blockchain applications via smart contracts and many others. All this is possible due to the internal architecture, consisting of cross-chains, smart contracts, and a software environment for blockchain development. Any blockchain network can integrate with the Wanchain platform to establish links between various registrars and perform low-cost transfers of digital assets between ledgers. Cross-chain WAN technology allows you to perform actions (exchange, lending, transfer) between two participants, without the intervention of a third party. In simple words, if you have a BTC wallet, and your friend has ETH, you can connect to the Wanchain platform and perform any financial transactions directly.
Why should I trade Wanchain?
The Wanchain platform is a cryptocurrency project that aims to become the first full-fledged bank designed on the blockchain. There are two main reasons why it is worth trading WAN:
- Since the number of blockchains is constantly growing, the question of their effective interaction is extremely relevant.
- If the project developers adhere to the roadmap (they plan to introduce a large number of new assets and blockchains in 2021) then the popularity of the project, and therefore its cost will grow. Therefore, now there is an opportunity to buy bottoms.
As of July 31, 2021, the WAN cryptocurrency is trading at a price of about $0.6, and the market cap is $115,786,575. The historical maximum of the price was recorded on May 3, 2018 and was equal to $9.92. The minimum value of the asset on March 13, 2020 was $0.075. For a long time, the cost of WAN did not go beyond $0.4, but recently the price has been growing again. If the developers implement their plans specified in the roadmap, we can expect an increase in the cost.
Where to trade Wanchain?
WAN is a freely traded asset and is represented on many reputable crypto exchanges and brokers. To date, the list of the best platforms for buying or selling WAN includes:
- Binance — charges a fixed trading fee of 0.1%. Binance’s trading fees are much lower than the industry average, when paying a fee in BNB, traders receive a 25% discount.
- Huobi — a reliable multi-language exchange, charges a fee of 0.2% on the maker-taker principle.
- 7b crypto broker — a convenient application for your smartphone that allows you to quickly and safely trade more than 400 crypto assets.
How to trade Wanchain using the 7b crypto broker app?
Along with seamless trading at the most competitive and transparent fees, 7b crypto broker allows you to track the current price chart of cryptocurrencies directly in the application. All this and a little more makes 7b the best place to trade WAN. Just follow the straightforward instructions:
- Log in to your 7b account.
- Deposit funds for trading.
- Choose a cryptocurrency for trading.
- Enter how much you want to buy or sell.
- Click the “Buy” button.
Where to exchange WAN?
At the moment, it is possible to exchange WAN cryptocurrency only with the use of crypto exchanges and brokers. Which service is better there is no unambiguous answer, let’s take a look at the main advantages and disadvantages of each:
Advantages Disadvantages High liquidity of assets Hackers can break into your wallet A large selection of cryptocurrencies The interface requires detailed study Internal wallet Low fees
Advantages Disadvantages There are no problems with the security of asset storage High fees compared to the exchange Simple and intuitive interface A large selection of coins for exchange Ease of use
In addition to the platforms listed earlier, the list of the most popular for WAN trading and exchange includes:
- BiONE — a Singapore cryptocurrency exchange launched in 2018. It is positioned as the most secure centralized exchange.
- ZT — a cryptocurrency exchange operating on the basis of blockchain technology, provides a wide range of assets and transaction security.
- KuCoin — an exchange with an impeccable reputation, a multifunctional and user-friendly interface, and low fees.
What to know before exchanging Wanchain?
Before making a swap, the trader should:
- Carefully study all the advantages and disadvantages of exchange platforms.
- Check the fees charged on the official website.
- Find out exactly how your funds are protected.
- To study the reviews of real people about the work of a particular service.
- It is better to choose an exchange from the CoinMarketCap rating.
How to buy Wanchain for fiat?
Unfortunately, the exchange of fiat directly to the WAN is not possible at the moment. In order to purchase an asset for fiat, first you need to exchange fiat for ETH, for example. And then choose one of the listed platforms for exchanging cryptocurrencies.
Wanchain use cases
Along with the function of storing valuables and secure peer-to-peer transfers, the utilitarian WAN token has the following areas of application:
- Fee for processing Wanchain transactions and inter-network transactions.
- Deposit bonds on each node to secure cross-chain transactions.
- Use as a protective mechanism for nodes that provide security and network verification.
Is Wanchain a good investment?
The WAN cryptocurrency is a good long-term investment. If the project developers strictly adhere to their roadmap and integrate more new assets and blockchains, then the price is expected to rise. Follow the latest news on the official website of the project.
How do I invest in Wanchain?
The WAN token is represented on many reputable crypto exchanges and brokers. You should carefully familiarize yourself with the functionality and features of the platform, reviews and fees. To purchase, simply top up your balance, enter the number of coins you want to buy in the input line, and click on the “Buy” button.
How to trade WAN for beginners?
Cryptocurrencies such as WAN, which are inexpensive, but have bright prospects, can be extremely profitable. However, you should not rely only on the opinion and reviews of third-party resources, conduct your own research and follow the news of the project. To trade WAN on a 7B deposit of funds, select a trading pair, specify the amount, click “Buy”.
What is Wanchain Blockchain?
Wanchain is a kind of decentralized bank for digital assets, provides lending services, asset exchange, payments and settlements, and much more. Thanks to cross-chain technology, the platform allows different blockchains to interact with each other.
Original source — https://sevenb.io/blog/how-to-trade-wanchain/