SafeOHM (SOHM) is a decentralised reserve currency protocol that is built around the SOHM token. Each SOHM token is backed by a basket of assets (for example, BNB) in the SOHM treasury, providing it with an intrinsic value that cannot be depreciated. Through staking and bonding, SOHM also introduces novel economic and game-theoretic dynamics into the market.
The goal is to create a policy-controlled currency system in which the SOHM token’s behaviour is controlled at a high level by the DAO. We believe that in the long run, this system can be used to optimise for stability and consistency, allowing SOHM to function as a global unit of account and medium of exchange currency. We intend to optimise the system for growth and wealth creation in the short term.
Visit the Binance website (https://www.binance.com/en) for more information.
There have been several phishing cases reported in recent years that are imitations of the original site; therefore, it is critical to carefully examine the URL to the website. First, look for the ‘Secure’ certificate, which should appear in your address bar and serves as confirmation of the site’s legitimacy. Second, to be extra safe when trading on the platform, bookmark the official site to avoid confusion in future searches.
You must fill in your details by clicking on the “Register” tab in the upper right-hand corner of the website’s page and entering your trading information. For example, you will be required to enter your mobile phone number or email address. It is necessary to use your primary email address, which you can easily access and is the most secure, because you will need it to sign in to your Binance account at all times.
You should also choose a strong password for your email, which should include a combination of numbers, symbols, upper and lower-case letters. As your account’s verification code and to complete the registration process, you will receive a 6-digit code via the email address you provided.
You can send money to your Binance Crypto wallet account directly from your bank account using SWIFT money transfer, or you can use your debit/credit card. Binance previously prohibited the use of credit or debit cards on its platform, but this has now been changed. Binance has partnered with Simplex to allow its users to purchase Bitcoin or Ethereum using their credit or debit cards. As a result, Crypto transaction speeds have increased, transaction fees have decreased, and transaction flexibility has increased.
- Move your mouse cursor to the ‘Buy Crypto’ tab in the top bar and select the dropdown menu. Then select the currency, for example, US Dollars, and click the ‘Credit/Debit Card’ button to proceed to the next step.
- You will be directed to the next page, where you will see options to select the desired Bitcoin (Select BTC) and the amount you must spend to purchase your desired Bitcoin amount. The total amount you must spend will be displayed based on the Bitcoin amount you request and the current market price (inclusive of all fees). You can, however, choose to set the total charge first, and then the system will automatically calculate the order amount for you.
- Then, click “Buy BTC.” A window with all of your order’s details will appear. However, before you place your order, please read the disclaimer and Terms of Service. Once you’re satisfied, confirm your order by ticking the tab and going to “Payment”; click.
- Fill in your credit card information as well as your personal information. After that, click “Pay now” and wait for it to verify your information.
- If this is your first simplex payment, you will be required to verify your email and phone number using a code sent to you via email or SMS. Open the link in your email and type the code you received via SMS to complete the verification process.
- After you’ve completed all of the preceding steps, click “Continue.”
- The use of an official document is then used to verify identity. Simply upload your identification document photo, along with your personal information, and then click the “Upload Document” tab.
- Finally, your personal document will be approved once it has been verified by the system, and an email will be sent to confirm the order purchase. Following that, the purchased BTC or Ethereum is credited to your Binance account.
Navigate to https://metamask.io or search for “Metamask extension” in your preferred browser.
- To install MetaMask as a Google Chrome extension, click Add to Chrome.
- Click the Add Extension button.
- You have completed the installation of the MetaMask extension. That was simple, wasn’t it? It is now time to connect your existing cryptocurrency wallet.
- If you don’t already have a wallet, you can make one right away.
- After installing the extension, click the icon in the upper right corner to open MetaMask and read and accept the terms.
We need to get into the Settings to direct the wallet to Binance Smart Chain nodes.
We want to find the Networks menu on the Settings page. We’ll need to manually add the Binance Smart Chain network by clicking Add Network in the top-right corner – it’s not included with MetaMask. It’s important to note that we have two options for networks here: the testnet or the mainnet.
Glide over the account name at the top of the window to see “Copy to clipboard” appear.
To copy your address, click on the account name. Copy and paste your address into the “recipient” field of the application from which you are sending your BNB or tokens. Select the amount to send, as well as any other steps required to complete and submit the transaction, and make sure to select the transfer network “Binance Smart Chain.”
To begin, go to the Pancakeswap exchange platform. Click the ‘Connect to a wallet’ button in the upper right corner and log in with the wallet you want to trade with.
- We’ll use a MetaMask wallet to log in.
- The trading interface will appear once you have logged in.
- Select the token you want to exchange for the token you want in the top field. We’ll go with BNB. In this case, search for the token you want to buy in the bottom field, or select it from the drop-down menu (SOHM).
- You are now ready to place your order. You can enter a number in the top field to specify how much you want to spend, or a number in the bottom field to specify how much you want to buy.
- You’ll then see how much you can expect to receive at the bottom of the order menu.
- If you’re satisfied with these numbers, click the ‘Swap’ button.
- Your wallet click will then prompt you to confirm the trade and possibly adjust the fees to a number that is most convenient for you.
- When you’re finished, confirm the transaction, and it’ll be processed. Once completed, your tokens will be available in your ERC20 wallet.