The Graph (GRT) is a decentralized indexing protocol that organizes and indexes blockchain data, primarily from Ethereum-based projects, to facilitate information retrieval. It uses a utility token, GRT, to power its network, which includes curators, indexers, and delegators. The Graph aims to support the transition to a decentralized internet, known as web3, by providing a secure and reliable way to access blockchain data.
The Graph (GRT) is used in several ways:
Network Contributors: GRT is used by indexers, curators, and delegators within the network. Indexers process queries and stake GRT tokens to contribute. Curators evaluate subgraphs and stake GRT to show trust. Delegators stake GRT to support indexers and receive rewards.
Medium of Exchange: GRT serves as a payment asset for services within and outside the ecosystem. Consumers use GRT to pay for query processing and access to data from platforms like Decentraland, Uniswap, and Aave.
Philanthropic Activities: GRT is used for charitable donations and is accepted by over 250 non-profit organizations through The Giving Block. Charities can participate as curators, delegators, or indexers, and GRT donations offer tax benefits.
Decentralized Finance (DeFi): The Graph improves access to blockchain data used in DeFi applications, making it easier to build and maintain DeFi platforms.
Non-Fungible Tokens (NFTs): GRT facilitates the creation and usage of NFTs by streamlining access to blockchain data, promoting the development of NFT marketplaces and related apps.
To store The Graph (GRT) tokens, you can use any hot or cold wallet that supports ERC-20 tokens. Here are some options:
Guarda Wallet: Guarda is a non-custodial, multi-currency wallet that supports over 400,000 assets, including GRT. You can create an online wallet or download a mobile app for PC, Mac, iOS, or Android. It offers a user-friendly interface for buying, sending, receiving, and storing GRT tokens securely.
Binance: You can also use Binance to store and manage your GRT tokens. Binance provides a comprehensive platform for trading, including margin trading and futures contracts.
Ledger Wallet: Ledger Nano X is a popular cold wallet option. Since GRT is an ERC-20 token, you can store it using the Ethereum app on Ledger Live. Simply search for GRT under the "Receive" section to add it to your wallet.
MyEtherWallet: MyEtherWallet (MEW) is another option for storing GRT tokens. MEW offers a user-friendly interface for managing your GRT tokens and accessing The Graph's tools and services.
Koinly: Koinly is a platform that helps with tax calculations for cryptocurrencies. It integrates with various wallets and supports GRT tokens. You can store your GRT tokens in any ERC-20 compatible wallet and then connect it to Koinly for tax purposes.
Remember to always store your tokens securely by following best practices for wallet management and security.
To buy The Graph (GRT) tokens, follow these steps:
Choose a reputable exchange: Select a reliable cryptocurrency exchange that supports GRT trading. Some popular options include Uphold, SpectroCoin, Kraken, Coinbase, and Kriptomat.
Create an account: Sign up for an account on the chosen exchange. This typically involves verifying your email address and identity.
Add funds: Deposit money into your account using a debit card, credit card, wire transfer, or Bitcoin (BTC).
Select GRT: Navigate to the exchange's trading platform and select The Graph (GRT) as the cryptocurrency you want to purchase.
Enter the amount: Input the amount you want to spend in your local currency. The exchange will automatically convert this to the equivalent GRT amount.
Preview and confirm: Review the transaction details and confirm your purchase.
- Complete the transaction: Once confirmed, the GRT tokens will be added to your account.
Remember to research each exchange's fees, security, and user reviews before making a purchase.
