How to buy Waltonchain and how it works

A beginner’s guide to buying and trading Walton Coin (WTC) in Canada.

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Waltonchain is a joint Chinese/Korean project that aims to combine blockchain technology and radio-frequency identification (RFID) to track items and improve supply chain management.

The token used for circulation and payment within the Walton ecosystem is the Walton Coin (WTC), which can be used to issue subchains, provide dividend interest and act as a credit and mortgage system.

Keep reading to find out what Waltonchain is, how it works and how you can buy WTC in Canada.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy Walton (WTC)

WTC is available on a number of popular cryptocurrency exchanges, including:

    Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
    Cryptocurrency
    -
    BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, & 80+ more
    Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

    US residents: US-based users have been restricted from Binance since June 2019.
    UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
    Cryptocurrency
    Bank transfer (SEPA)
    SWIFT
    Wire transfer
    Faster Payments Service
    GBP, EUR, USD, CAD, SGD, AUD, JPY, MXN
    BTC, ETH, BCH, XRP, LTC, EOS, XLM, USDT, ADA, XMR, TRX and 50+ more
    BC Bitcoin is a UK-based cryptocurrency brokerage that buys and sells more than 100 different cryptocurrencies.
    Credit card
    Cryptocurrency
    USD
    BTC, BCH, MIOTA, XVG, NEO, ADA, XRP, TRX, ONT, ZIL, GAS, LTC, ZRX, QTUM, ETH, ETC, VET, ICX & 300+ more
    CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
    OKEx Cryptocurrency Exchange
    Bank transfer
    Cryptocurrency
    WeChat
    USD, CNY
    BTC, ETH, LTC, EOS, TRX, ETC, BCH, TRUE, XRP, ABT, HSR, MITH, BTM, AUTO, IOST, & over 119+ more
    Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
    Bithumb Cryptocurrency Exchange
    Cryptocurrency
    Wire transfer
    KRW
    BTC, BTG, BCH, DASH, ETC, LTC, EOS, XRP, ETH, QTUM, TRX, ICX, VET, XMR, ZEC, MITH, WAVES, WTC, ITC, LINK
    A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
    Cryptocurrency
    -
    BTC, BCH, XMR, DAG, ETH, XRP, EOS, LTC, ADA, TRX, NEO, ONT, STEEM, BTM, BCD, ZINC, VET, OLT, USDT, BSV, & 134+ more
    Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
    Cryptocurrency
    -
    BTC, ETH, XRP, BCH, EOS, XVG, LTC, ADA, MIOTA, TRX, NEO, DASH, XMR, XEM, VET, ETC, ICX, QTUM, OMG, & 70+ more
    Buy and trade 100+ cryptocurrencies on this global cryptocurrency exchange.

    Compare up to 4 providers

A step-by-step guide to buying Walton

If you want to buy WTC in Canada, here’s an example of how you can do it:

Step 1. Create an account at Coinbase

If you want to exchange your Canadian dollars (CAD) for WTC, you’ll need to use a cryptocurrency exchange like Coinbase. Although not local, Coinbase allow you to trade for WTC, however you will likely have to face a CAD to USD exchange rate and trade either BTC or ETH for WTC. To sign up for an account, simply provide your email address and create a password.

Step 2. Deposit funds into your account

From your CoinSpot account, click on the “Deposit” button to make an online payment via credit or debit card. At this stage of the process, you’ll also need to provide further details to verify your account, including your photo ID and some other information.

Step 3. Buy WTC

Once verified, click on the “Buy/Sell” link and then search for “WTC”. Review the current price of WTC and click on the “Buy WTC” link. You will likely have to exchange BTC or ETH for WTC.

You’ll be able to see the amount of WTC you’re about to purchase, at what price and the fee that applies to the transaction. Click “Confirm Buy” if you’re happy to proceed with the purchase.

Note: As mentioned above, please note that most cryptocurrency exchanges do not allow you to exchange fiat currency (your Canadian dollars) for WTC. Instead, you’ll have to purchase a major cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH) and then exchange those coins for WTC.

Which wallets can I use to hold Walton?

WTC is an ERC20 token on the Ethereum network, so it can be stored on any Ethereum-friendly wallet that supports these types of tokens. For example, you could hold WTC with:

How Walton works

Launched by Chinese and Korean developers in 2016, Waltonchain is named after Charlie Walton, the inventor of RFID technology. Waltonchain aims to combine RFID with blockchain technology to streamline supply chain management.

What is RFID technology?

Radio-frequency identification uses electromagnetic fields to attach digital identities to physical objects. This information is stored on small chips attached to those objects.

RFID is already in widespread use throughout everyday life, including in the e-Tag in your car and in the microchip used to identify your lost dog.

By attaching small RFID tags with unique IDs to objects, those objects can easily be identified with information logged on to the blockchain. This should then allow companies to track their products on the blockchain, with the end goal being to cheaply improve supply chain management and stop the production and sale of counterfeit goods.

Real world applications for Walton

Walton’s developers hope their technology will be able to streamline the entire supply chain process, from manufacture right through to the retail experience. Potential applications for Waltonchain in the real world include:

  • Keeping track of business inventory as it enters and leaves warehouses
  • Monitoring the transportation of products
  • Eliminating counterfeit products
  • Keeping track of stock in store
  • Tracking purchase preferences of buyers

The technology could potentially offer benefits across a number of industries, including:

  • Fashion and clothing
  • Storage
  • Logistics and shipping
  • Liquor
  • Automotive
  • Retail
  • Waste management

What to consider when buying Walton

There are a myriad of factors you should consider when buying WTC, including:

  • Availability. There are a total of 100 million WTC tokens in existence – this number is a constant and no more coins will be issued.
  • Use. Tokens are used for circulation and payment in the Waltonchain ecosystem. WTC’s main uses include issuing sub-chains, paying dividend interest, providing a credit and mortgage system and distributed asset exchange.
  • Waltonchain’s growth potential. As the Walton ecosystem grows, the company hopes that an increasing number of businesses will join the ecosystem and need to expend WTC to create sub chains. This should then lead to an increase in the value of WTC.
  • Competition. You’ll need to consider other companies that could compete for market share with Walton. For example, VeChain also provides unique product identification through the blockchain to streamline supply chain processes.
  • Commercial partnerships. The commercial partnerships a company establishes can help it access new markets and expert knowledge. Waltonchain announced a partnership with Korean exchange platform Coinnest in January 2018, and also has agreements with China Mobile IoT Alliance, Coinlink, Haier and a wide range of other businesses.

FAQs

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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