DOSE (DOSE) is a digital or virtual currency that operates on a decentralized network, utilizing blockchain technology and cryptography to secure transactions. It is a medium of exchange, existing solely in electronic form, and its value is determined by market forces. DOSE is created through a process called mining, and transactions are recorded on a public ledger. It can be stored in digital wallets and used for various transactions, with its market capitalization representing the total monetary worth of all mined coins.
The DOSE token is the native cryptocurrency of the OliveX gamified fitness ecosystem. It serves as a token of purchase, utility, and action within the platform. Users can earn DOSE tokens by completing workout-based gameplay inside OliveX's applications, such as Dustland Runner, Dustland Rider, and 22 Pushups. These tokens can then be used to unlock in-game items and game modes, purchase non-fungible tokens (NFTs), and participate in special events within the ecosystem.
To store DOSE (DOSE) tokens securely, consider the following steps:
Choosing a WalletNon-Custodial Cold Wallets: These are the safest options for long-term storage. They are not connected to the internet, reducing the risk of hacking. Examples include hardware wallets like USB drives, which offer increased security compared to storing keys on your connected device.
Alternative Non-Custodial Cold Wallets: Options include paper wallets, QR code generators, and metal seed plates. Ensure you take necessary precautions like encryption, disconnection, and secure storage to minimize the risk of loss or theft.
Never Share Your Password / Seed Phrase: Treat your seed phrase like a PIN to your debit or credit card. Sharing it can give others access to your wallet, potentially leading to loss of funds.
Two-Factor Authentication: Use two-factor authentication for all your wallets and linked accounts to add an extra layer of security.
Multisignature Security: Consider using multi-signature security to protect your account in case one of your linked devices gets lost or stolen.
Secure Passwords: Use strong, unique passwords for your accounts and wallets. Avoid using personal information and consider using password managers.
Back Up Your Data: Regularly back up your accounts and keep copies of your backups in a safe, secure location.
- Use a Hot Wallet for Trading: For smaller amounts of DOSE tokens that you want to use for trading, consider using a hot wallet. This allows for quick access while keeping the bulk of your tokens in a cold wallet.
- Physically Record Recovery Phrases: Record your recovery phrases securely, either by writing them down or using specialized tools like steel plates designed for this purpose.
- Keep Recovery Phrases Secure: Store your recovery phrases in a secure location that only you can access.
By following these steps and best practices, you can ensure the safe storage of your DOSE tokens.
To buy DOSE tokens, follow these steps:
Find a Reliable Centralized Exchange: Look for a trustworthy centralized exchange where DOSE is listed. You can refer to CoinMarketCap.com's Markets section to find the list of exchanges that support DOSE.
Set Up a Crypto Wallet: Download and set up a crypto wallet like Trust Wallet. Ensure you keep your seed phrase safe and note your wallet address.
Buy ETH as Base Currency: Purchase ETH on Binance or another exchange. If you are new to Binance, refer to their guide on registering and buying your first cryptocurrency.
Transfer ETH to Your Wallet: Withdraw the ETH from Binance to your Trust Wallet. Make sure to set the network to Ethereum and provide your wallet address.
Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet. For example, if you use Trust Wallet, you can use 1inch.
Connect Your Wallet to the DEX: Use your wallet address to connect to the DEX.
Trade ETH for DOSE: Select ETH as the payment and DOSE as the coin you want to acquire. If DOSE does not appear, find its smart contract address on Etherscan.io and paste it into the DEX.
Complete the Swap: Click the Swap button to finalize the transaction.
Remember to carefully consider your investment experience, financial situation, and risk tolerance before making any investment decisions. Cryptocurrency prices are subject to high market risk and price volatility.