How To Buy WOM Protocol (WOM)?

A common question you often see on social media from crypto beginners is “Where can I buy WOM Protocol?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports WOM Protocol (WOM)

First, you will need to open an account on a cryptocurrency exchange that supports WOM Protocol (WOM).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase WOM Protocol (WOM) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy WOM Protocol (WOM)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for WOM Protocol (WOM) or WOM Protocol (WOM) trading pairs. Look for the section that will allow you to buy WOM Protocol (WOM), and enter the amount of the cryptocurrency that you want to spend for WOM Protocol (WOM) or the amount of fiat currency that you want to spend towards buying WOM Protocol (WOM). The exchange will then calculate the equivalent amount of WOM Protocol (WOM) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of WOM Protocol (WOM) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

Alternative ways to buy WOM Protocol (WOM)

Because the project is very new, it is only offered directly on a select number of exchanges. If you’re not comfortable connecting your bank account to any of these smaller exchanges, or if you cannot connect your bank account to them for geographical reasons. Then you can instead create an account on any of the major exchanges and simply transfer the funds from there.
Out of the major exchanges we recommend the following based on functionality, reputation, security, support and fees:

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is WOM Protocol (WOM)?

The question is: how can brands leverage word-of-mouth content created by real fans without compromising the honesty and trust that makes it so effective?

The WOM Protocol, together with the WOM Token, is the answer. The WOM Protocol is a blockchain-based MarTech solution that enables brands to leverage genuine word-of-mouth recommendations. The WOM Protocol will provide a way to reward creators for their product-referring content without compromising consumer trust in the content and its creators. WOM Protocol Pte. Ltd. (WOM Entity) launched a Token Generation Event (TGE) to finance the development of the WOM Protocol and to bring immediate value to the WOM Token. The WOM Entity will act as an initial arbiter and then, subject to the prevailing regulatory environment, dissolve once a Decentralized Autonomous Organization (DAO) has been established.

The WOM Entity is building the WOM Protocol to enable brands to connect with fans and reward them on a global scale. It will facilitate the scaling of the WOM Ecosystem and enable 4 monetization of word-of-mouth content for brands, creators, and publishers. It will do so without one central party exclusively profiting from the collective value created by genuine word-of-mouth content within this global marketplace. Every participant not only creates value, but has the opportunity to be fairly compensated for the value growth they create as a cooperative.

The ultimate goal of the WOM Entity is to structure the WOM Protocol in a way that it cannot be owned and controlled by one single entity. Instead, it will be equally owned by everyone participating in the protocol through receiving, using, or holding WOM Tokens. Changes in the protocol could lead to beneficiary groups of participants and will therefore be decided by everyone involved in a collaborative way. This will be achieved using state-of-the-art blockchain governance mechanisms for decentralized organizations in a legally compliant manner. An independent, decentralized application (DApp), will enable brands to engage with the WOM Protocol directly without the need for a trusted third party.

The Campaign Manager DApp will list available WOM content on the blockchain and connect it to brand campaigns. These links are created through smart contracts that measure the engagement with each piece of content and subsequently reward the content creators, authenticators, and platforms on which the content is hosted.

What is the WOM token?

The WOM Token, running on the Ethereum blockchain, enables a reward mechanism to incentivize the creation and supply of WOM content without the need for a brand to pay a central company for access to the content.

The WOM Protocol also enables content apps, blogs, and other content platforms to easily implement a new and non-invasive revenue model. Every platform that hosts brand- and product-recommendation content, alongside other forms of content, can implement the WOM Protocol. Once the protocol is implemented, the platform’s users can earn WOM Tokens by creating and sharing WOM content.

The content platform can then take a share of the WOM Token rewards and therefore does not need to rely on an advertising model to generate revenue. Rather, the revenue comes from focusing on user experience and growing the user base of content creators and consumers. As the number of participants in the WOM Ecosystem grows, so does the demand for WOM Tokens, which are needed to interact with the protocol. In this way, the network effect increases the value of the WOM Ecosystem over time.

The WOM Protocol is designed as an open, censorship-resistant, and decentralized protocol. It may be used by any other company, app, entrepreneur, or individual who stands to benefit from connecting with a high quality, word-of-mouth content marketplace. The objective is to enable an entire ecosystem to emerge, in which any content creator, publisher, developer, and brand has access to the open-source WOM Protocol and therefore genuine word-of-mouth marketing.

WOM Protocol development updates in 2023

WOM Protocol, a blockchain-based protocol focused on Web3 marketing, has seen several significant developments in 2023. Here’s a summary of the key updates:

• Token Listing and Partnership with KoinBX Exchange: WOM Protocol secured a notable listing of its native WOM Token on the global cryptocurrency exchange, KoinBX. This listing, which includes trading pairs WOM/USDT and WOM/INR, started on June 27th, 2023. Additionally, WOM Protocol and KoinBX established a marketing partnership to introduce Web3 projects listed on KoinBX to WOM Protocol’s growth marketing solutions​​​​.

• Expansion to the Indian Market: The listing on KoinBX represents a strategic move into the Indian market, which is a significant development for WOM Protocol. This expansion is expected to open new opportunities in the cryptocurrency market for Indian investors and enthusiasts​​.

• Partnership with SailingSea.io for Token Transfers: WOM Protocol partnered with SailingSea.io, a fiat-to-crypto conversion website, to enable the fast and low-fee purchase of cryptocurrencies. This partnership allows WOM Protocol to offer access to its tokens using the Zelle mobile payments app, making it one of the first projects to utilize this service. This development is aimed at providing easy access to WOM Token’s utility for US-based community members​​.

• Ecosystem Growth and WOM Token’s Utility: WOM Protocol continued to grow its ecosystem of BULLZ marketing technology products. The WOM Authenticator app, WOM Campaign Manager, and a Shopify app are parts of this ecosystem, facilitating the process for advertisers to find, track, and reward word-of-mouth recommendations. The WOM Token plays a crucial role in this ecosystem, enabling brands to reward content creators, publishers, and platforms​​​​.

These updates underscore WOM Protocol’s commitment to revolutionizing digital advertising through blockchain technology and community-driven marketing strategies. The expansion and partnerships in 2023 mark significant steps in increasing the accessibility and adoption of WOM Protocol’s solutions in the Web3 space.

Official website: https://womprotocol.io/

Best cryptocurrency wallet for WOM Protocol (WOM)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for WOM Protocol (WOM)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).