GoBear is now part of Finder
Learn more about this Learn more

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

How to buy Waltonchain and how it works

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

Avatar
Tim Falk
Updated
Fact checked

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 Singapore.

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:

      • How to buy Walton

        NB: Please note that most cryptocurrency exchanges do not allow you to exchange fiat currency (i.e your SGD) 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 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 manufacturing to 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 is 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: 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.

More guides on Finder

Ask Finder

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site