Wrapped XDC (WXDC) is a token created on the Ethereum blockchain, adhering to the ERC-20 standard. It represents a wrapped version of the XDC token from the XDC Network, a hybrid blockchain platform that combines public and private blockchain features. WXDC is traded on decentralized exchanges, with the most active trading pair on XSwap. The token's price is calculated by aggregating data across multiple exchanges and markets, and it has a circulating supply of approximately 225 million tokens.
Wrapped XDC (WXDC) is a cryptocurrency token that can be used for various purposes within the XDC Network ecosystem. Here are some ways WXDC is utilized:
Trading: WXDC can be traded on decentralized exchanges like XSwap, Globiance, and Fathom DEX, allowing users to buy and sell the token for other cryptocurrencies or fiat currencies.
Payment: WXDC can be used as a form of payment for services and transactions within the XDC Network, leveraging the network's fast transaction processing capabilities.
Smart Contracts: WXDC is compatible with Ethereum Virtual Machine (EVM) and supports interoperable smart contracts, enabling users to scale their projects and interact with other blockchain platforms.
Delegated-Proof-of-Stake (XDPoS): WXDC is part of the XDPoS consensus mechanism, which ensures the security and speed of the XDC Network by incentivizing validators to participate in the network's governance.
Wrapped Token: WXDC is a wrapped version of the XDC token, allowing users to access the XDC Network's features and services while maintaining compatibility with other blockchain platforms.
These uses highlight the versatility and functionality of Wrapped XDC within the XDC Network ecosystem.
To store Wrapped XDC (WXDC) tokens securely, it is recommended to use a cold wallet, which is a wallet that is completely offline. There are two types of cold wallets:
Paper Wallet: This is created by generating public and private keys offline and printing them on a piece of paper. The keys are printed in the form of QR codes, which can be scanned for future transactions. This method is simple and secure, but it requires careful storage of the paper to prevent loss or damage.
Hardware Cold Wallet: This is a physical device that stores your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person with the USB drive can access the assets. Hardware cold wallets are popular for storing large amounts of coins or tokens, as they provide an additional layer of security against hacking and unauthorized access.
To buy Wrapped XDC (WXDC) tokens, you can follow these steps:
Choose an Exchange: Wrapped XDC can be traded on decentralized exchanges. The most popular exchanges to buy and trade WXDC include XSwap, Globiance, and Fathom DEX.
Create an Account: Sign up for an account on the chosen exchange. This typically involves providing personal information and verifying your identity.
Deposit Funds: Deposit the necessary funds, such as cryptocurrencies or fiat currencies, into your exchange account. The specific payment options available may vary depending on the exchange and your location.
Place an Order: Use the deposited funds to place a buy order for WXDC tokens. You can set the desired price and quantity of tokens you want to purchase.
Store Your Tokens: Once you have purchased WXDC tokens, it is recommended to store them in a secure wallet, preferably a cold wallet, to ensure the safety of your assets.
By following these steps, you can successfully buy and store Wrapped XDC tokens.