World Mobile Token (WMT) is a digital currency designed to facilitate and incentivize the expansion of the World Mobile network, which aims to connect the unconnected through blockchain technology. It is a utility token that powers the sharing economy of World Mobile's global mobile network, rewarding node operators and token stakers for processing transactions and services.
World Mobile Token (WMT) is the utility token that powers the sharing economy of World Mobile's global mobile network. It is used to incentivize and reward users and node operators for their participation in the network. Here are the key ways WMT is used:
- Node Operators and Stakers: WMT is earned by node operators and stakers for processing network transactions and providing services to customers. This includes calls, texts, data usage, and other value-added services like content, finance, healthcare, insurance, and micro-loans.
- Reward Mechanism: The token is used to reward users and node operators for their contributions to the network. This includes staking WMT to node operators, which helps secure the network and earn rewards.
- Network Revenue: World Mobile uses network revenue to purchase WMT from open markets, which is then allocated to operators and stakers as rewards.
- Governance: Users can earn WMT tokens by participating in governance, ensuring active participation and distributed decision-making power within the community.
Overall, WMT plays a crucial role in incentivizing the growth and sustainability of the World Mobile network, which aims to bridge the global digital divide by providing affordable and secure internet connectivity in remote areas.
To store World Mobile Token (WMT) tokens securely, follow these steps:
Create a Cardano Wallet: Set up a Cardano wallet to store your WMT tokens. This will provide you with seed words, which are crucial for recovering your wallet if you lose access to it.
Store Seed Words Safely: Keep your seed words written down on a non-digital format, such as a piece of paper, and store it in a secure location. This will ensure you can recover your wallet if needed.
Use a Non-Custodial Vault: Create a non-custodial vault to manage your WMT tokens. This vault allows you to stake your tokens, monitor rewards, and track blockchain data.
Avoid Centralized Exchanges: Do not store your WMT tokens on centralized exchanges for extended periods, as this prevents you from staking your tokens in the World Mobile Token Vault.
Use Supported Wallets: Ensure you use supported Cardano wallets to store your WMT tokens. You can check the supported wallets page for more information.
Hardware Wallets: Consider using hardware wallets like Ledger Live, which can store and manage your WMT tokens securely.
By following these steps, you can safely store and manage your World Mobile Token (WMT) tokens.
To buy World Mobile Token (WMT) tokens, follow these steps:
Choose a Crypto Exchange: Select a reliable centralized exchange such as KuCoin, gate.io, or MEXC. Ensure the exchange accepts customers from your country and offers the features you need.
Create an Account: Register a free account on the chosen exchange, providing personal information such as your name and email address. You may need to complete KYC for higher withdrawal limits and additional features.
Deposit Funds: Add funds to your exchange account using a payment method accepted by the exchange. This can include credit/debit cards, bank transfers, or other cryptocurrencies.
Place a Buy Order: Decide whether to use a Market Order or Limit Order. Market Orders execute immediately at the current market price, while Limit Orders allow you to set a specific price for the purchase.
Store Your WMT: Once you have purchased WMT, store it securely in a crypto wallet. You can use the wallet provided by the exchange or a third-party wallet like Trust Wallet.
Track Your Investment: Monitor your WMT investment performance regularly to make informed decisions about your portfolio.
Alternatively, you can also use a decentralized exchange (DEX) like 1inch by connecting your crypto wallet and swapping your ETH for WMT.