Blockchain technology is the integration of many computer networks and is in charge of the maintenance and recording of all transactions conducted on the platform. Aside from that, Bitcoin is fully decentralised in nature, which means it may function freely without government intervention and in any way it sees fit.
Another feature of cryptocurrencies worthy of note is that they are highly secure, thanks to a technology known as cryptography, easy to use, user friendly, and most importantly, the entire concept of cryptocurrencies is that they are highly portable, which is by far its biggest selling point because of the convenience it provides to its users.
It is worth noting that there are global experts in the field who believe that crypto is destined to completely revolutionise the global payment system on the planet, and with its growth and increase in popularity over the years, there are new currencies emerging every day, and millions of users joining the crypto ecosystem every hour. From where I stand, I am confident that these assumptions are not completely false and will undoubtedly be the case in the future.
DDX is the native token on the DerivaDEX exchange that is used for governance, fee reduction, and other activities. Users that participate in the insurance mining programme get DDX. Users will get DDX in proportion to their stake, which will be delivered every block. As part of the insurance mining programme, about 5% of the liquidity-mined DDX will be given. DDX is neither a fundraiser nor an investment opportunity.
On September 29th, 2020, DDX became tradable for the first time. There are 50,297,306 in all.
You must first purchase one of the major cryptocurrencies, in our example, Bitcoin (BTC). In this post, we will go through two of the most popular fiat-to-crypto exchanges, Uphold.com and Coinbase, in depth. Both exchanges have their unique fee policies and features, which we shall go through in depth. It is advised that you test both of them and choose which one best suits you.
Once you’ve completed the KYC procedure. You will be prompted to provide a payment method. You may either submit a credit/debit card or utilise a bank transfer here. When you use a credit card, you will be charged additional costs, but you will also make an instant transaction. While a bank transfer is less expensive but takes longer, depending on where you live, certain nations provide fast cash deposits with low costs.
But we are not finished yet; because DDX is an altcoin, we must move our BTC to an exchange where DDX may be exchanged; in this case, we will utilise HotBit as our exchange. HotBit is a famous cryptocurrency exchange with a huge number of tradable altcoin pairings.
Founded in 2018, HotBit cryptocurrency exchange is known as a cryptocurrency trading platform that continues to develop and integrate various forms of businesses such as spot trading, financial derivatives, cryptocurrency investment, and DAPP into one platform.
It holds an Estonian MTR licence, an American MSB licence, an Australian AUSTRAC licence, and a Canadian MSB licence. Hotbit now accepts US investors. Hotbit’s operations currently span more than 210 nations and regions. HotBit continues to focus on world’s rising markets such as Russia, Turkey, and southeastern Asia markets, based on its globalised and united policies, and was voted one of the top three most welcomed exchanges by Russian media in 2019.
Depending on the exchange’s regulations, you may be needed to go through another KYC procedure, which should take you anywhere from 30 minutes to a few days at most. Nonetheless, the procedure should be straightforward and simple to follow. When you’re finished, you should have complete access to your exchange wallet.
You will notice a string of random numbers saying ‘BTC address’ in the box on the right; this is a unique public address of your BTC wallet at HotBit, and you may receive BTC by presenting this address to the person sending you the coins. Because we are now transferring already purchased BTC from Coinbase to this wallet, click ‘Copy Address’ or right-click on the complete address and select copy to copy this address to your clipboard.
Return to Coinbase, go to the Portfolio page, and then click on BTC on your asset list, followed by ‘Send’ on the right.
Paste the wallet address from your clipboard into the Recipient field; for security reasons, always check whether both addresses match. Certain computer viruses is known to change the content of your clipboard into another wallet address, causing you to practically transmit payments to another individual.
To proceed, click ‘Send.’ You should immediately receive a confirmation email; click on the confirmation link in the email, and your coins are on their way to HotBit!
Return to HotBit and navigate to your exchange wallets; don’t panic if you haven’t noticed your deposit yet. It is most likely still being authenticated in the blockchain network, and your money should appear in a few minutes. Depending on the state of the Bitcoin network’s network traffic, it may take even longer at peak hours.
Once your BTC has arrived, HotBit should send you a confirmation email. And you are finally ready to buy DDX!
Aside from the exchange(s) mentioned above, there are a few major crypto exchanges with high daily trading volumes and a large user base. This ensures that you may sell your coins at any moment, and the costs are generally reduced.