How Dent works and where to buy, sell and trade it.
Dent, or DENT Wireless as it’s officially known, aims to use cryptocurrency to democratize mobile data and bandwidth in a peer-to-peer economy.
It essentially aims to let users buy and sell their mobile data.
Where to buy, sell and trade Dent
Step-by-step guide to buying DENT
Buy with crypto only
To buy DENT, you will first need to buy BTC or ETH and then trade that for DENT at one of the exchanges above.
The coins accepted may vary depending on the exchange.
This involves creating an account on the exchange, then sending coins from your wallet to that exchange. At this point, they can be exchanged for DENT.
After the exchange, your DENT will either be deposited to your account on the exchange or sent directly to the wallet address you’ve specified.
If you don’t already have BTC or ETH, you’ll need to get either of those first.
How does DENT work?
Dent Wireless has three stated goals.
- The liberation of mobile data. It wants to let customers buy and sell their mobile data peer to peer as quickly and easily as possible so as to eventually create a global marketplace for mobile data, bringing prices down all around the world.
- The removal or minimization of data roaming fees. Dent aims to remove the concept of data roaming by using a system called “Local Breakout” that automatically routes data in the most efficient way possible. Currently, data roaming fees are used to offset the costs of inefficiently routing data from one’s home country to the country one is in.
- To help drive the data sharing economy. Just as Airbnb is driving shared living space, Uber is driving shared transportation and other peer-to-peer systems are emerging, Dent wants to drive shared mobile data.
To try to accomplish this, it uses an ERC20 token on the Ethereum blockchain.
- A single currency. The use of its own currency makes it a lot easier to buy and sell data globally.
- Smart contract products. When users buy and sell mobile data, it comes packaged as a smart contract product. This ensures transparency in the system and means buyers and sellers can’t cheat each other.
It operates through a mobile app, which generally makes buying, selling and sending data as easy as using any other app.
How to sell or trade DENT
- Go to the exchange platform you hold DENT on. If you have your DENT in a digital wallet, you can choose any platform from the ones listed above to complete your transaction.
- Transfer your DENT to BTC or ETH via the platform.
- Follow the instructions on the platform to sell or trade your BTC or ETH.
What to consider if buying DENT
DENT will have a total token supply of 100 billion, of which about 10.7 billion is currently in circulation.
If you’re planning on buying, it’s probably also worth getting the app itself to see how it works and whether you might simply prefer to use DENT for its intended purpose rather than holding onto its tokens.
The DENT platform is largely operational and has a functional product that appears to be widely used.
It’s also previously adjusted prices to adapt to the growing value and popularity of the coin, so DENT’s value may be able to increase without pricing the token out of usability.
However, it’s also facing extreme competition from other blockchain providers. For example, Sirin Labs’ dedicated blockchain smartphone is currently under development and has the goal of having Dent-like features built in.
The Sirin phone is being created with the specific aim of eventually migrating into the IOTA network, and IOTA, IoT Chain and other “Internet of Things” platforms might have the potential to eventually leave Dent obsolete.
But if you’re looking to test drive some blockchain technology in the real world, buying some DENT, getting the app and seeing how it stacks up next to your current mobile data prices might be a good way to test the waters.