Want to jump straight to the answer? You can buy Worldcoin (WLD) on Binance.
Worldcoin is among the most hyped cryptocurrency launches in 2023. It aims to create a global identity and financial network by verifying users' humanity through unique biometric data. This innovative approach involves scanning users' irises to confirm their identity, which raises intriguing implications for both privacy and accessibility in the crypto space.
Interested in investing in Worldcoin? Let’s dive into what Worldcoin is and how to buy WLD on top exchanges today.
How to Buy Worldcoin (WLD)
With large amounts of trading volume and a credible team, Worldcoin is already available on numerous cryptocurrency exchanges. You can buy Worldcoin using a decentralized exchange (DEX) like Uniswap or on centralized exchanges like Binance, Crypto.com and Bybit.
1. Open an Online Account
If you don’t already have a crypto exchange account that offers support for Worldcoin, you’ll need to make a new account. Signing up for these trading platforms requires know your customer (KYC) verification. This means you’ll need to verify your identity (without scanning your retina) before you can begin trading crypto.
2. Fund Your Account
After your account is opened, you can easily transfer funds and make deposits using various payment methods offered by many trading platforms. These methods typically include credit and debit cards, wire transfers and cryptocurrency deposits sourced from other exchanges and wallets.
To initiate a deposit, simply choose your preferred payment method, follow the instructions provided by the platform, enter the amount you wish to deposit, and review any applicable transaction fees before confirming your transaction.
3. Make Your Purchase
Once your cryptocurrency exchange account is funded, you’re ready to make your purchase. Search for Worldcoin or its ticker, WLD, and select the trading pair you’d like to trade on. Typically, this will be either BTC or stablecoins, meaning you’ll need to hold one of these assets in your account to purchase WLD.
Once funded, set a limit or market order to buy your Worldcoin. Once executed, the assets will appear in your account balance. Then, it’s recommended to transfer your tokens to a crypto wallet to have full control over your funds.
Alternatively, you can send ETH from an existing exchange to a wallet. Once in your cryptocurrency wallet, you can connect to Uniswap and trade ETH for WLD tokens.
What Is Worldcoin?
Worldcoin is a proof-of-humanity protocol that uses the Optimism Stack to secure its network. It can be difficult to tell who or what owns which crypto wallets — a bot or an individual who controls multiple wallets. Worldcoin seeks to solve this problem by assigning one ID, dubbed World ID, to each user. Worldcoin verifies users' identities by scanning their retinas and issuing them a World ID.
That’s right, users can’t get a World ID without first scanning their retinas. People are incentivized to do so for WLD tokens, which they receive for “simply being human.” A specific device, called an Orb, is required to scan your retina, so you’ll need to find one near you to participate. In the meantime, you can download the World App and reserve your share of tokens ahead of your scan.
Worldcoin acknowledges the potential use cases for Worldcoin to discredit AI-generated content, power universal basic income (UBI), and enable global democratic processes.
Brief History of Worldcoin
Worldcoin was co-founded in 2020 by Sam Altman. Altman serves as the CEO of OpenAI, the company that created ChatGPT. Altman also served as president of Y Combinator, an early-stage venture incubator that has helped grow Coinbase, DoorDash, DropBox and dozens of other large tech companies.
Worldcoin officially launched its token on July 24, 2023. After much anticipation, Worldcoin began trading at a $23 billion market capitalization, making it valued similarly to OpenAI. As of Sept. 10, 2024, WLD is trading for around $1.47 with a market capitalization of over $629, ranking it within the top 100 coins by market cap.
Where to Buy Worldcoin (WLD)
How to Store Your Worldcoin (WLD) Safely
While using a wallet is only required if you plan on buying Worldcoin via a DEX, it’s recommended that you use a hardware wallet to store your crypto assets. Unlike holding your tokens on an exchange, using a cryptocurrency wallet allows you to hold custody over your funds, and it reduces the risk of your funds being stolen.
- Best hardware wallet: Ledger Nano S
- Best For:ERC-20 tokensVIEW PROS & CONS:securely through Ledger Hardware Wallet's website
Ledger stands out as the best hardware wallet for several reasons. It’s one of the longest-lasting wallet manufacturers, selling millions of units since its inception in 2014. Ledger hardware wallets support thousands of tokens, so you won’t need to have separate wallets for different types of digital assets.
- Best software wallet: Coinbase Wallet
If you’re not ready to shell out cash for a hardware wallet, software wallets are good alternatives. Software wallets are free applications that allow users to self-custody their assets, such as MetaMask and Coinbase Wallet. Coinbase wallet stands out for its decentralized finance (DeFi) integrations and support for layer 2s, allowing you to interact with DeFi without needing to pay high gas fees.
Trade, Sell or Convert Your Worldcoin
When you’re ready to sell or convert your WLD tokens, you can do so using the same exchange you used to make your purchase. If you seek to convert your WLD using a centralized exchange, you may need to transfer your tokens back to the exchange from your wallet. Once funded, you can choose to sell your Worldcoin for stablecoins or Bitcoin on most crypto exchanges.
Current Crypto Prices
Monitoring cryptocurrency prices is essential for making informed investment decisions. Gain insights into the price movements of leading cryptocurrencies today, including Bitcoin, Ethereum, Solana and Dogecoin.
Is Worldcoin a Good Investment?
The fully-diluted valuation of Worldcoin is tens of billions of dollars, but it’s hard to justify this value based on fundamentals. It’s difficult to predict how the market price of WLD will react to its token distribution, as everyone who scans their retinas will receive tokens in return. While the protocol would be invaluable if it achieves its goals, it’s important to consider what Worldcoin must overcome to bring its ambitions to life.
Frequently Asked Questions
Why people are buying Worldcoin?
Where can I buy Worldcoin cryptocurrency?
How to make money with Worldcoin?
To make money with Worldcoin, you can invest by buying and holding the cryptocurrency, mine it for rewards by contributing computing power, trade it on exchanges to profit from price changes, or accept it as payment for goods or services if you own a business.