How To Buy XDC Network (XDC)?

A common question you often see on social media from crypto beginners is “Where can I buy XDC Network?” 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 XDC Network (XDC)

First, you will need to open an account on a cryptocurrency exchange that supports XDC Network (XDC).
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 XDC Network (XDC) 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 XDC Network (XDC)

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 XDC Network (XDC) or XDC Network (XDC) trading pairs. Look for the section that will allow you to buy XDC Network (XDC), and enter the amount of the cryptocurrency that you want to spend for XDC Network (XDC) or the amount of fiat currency that you want to spend towards buying XDC Network (XDC). The exchange will then calculate the equivalent amount of XDC Network (XDC) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of XDC Network (XDC) 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 XDC Network (XDC)

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 XDC Network (XDC)?

XDC Network, also known as XinFin, is a delegated proof-of-stake (dPoS) blockchain network designed as a solution for international commerce, trade and finance. XinFin’s documentation highlights that the largest blockchain networks, Bitcoin and Ethereum, have always been plagued with slow transaction times, high transaction fees and high energy consumption. To solve this problem, XinFin developed a hybrid blockchain that contains both a public and private network.

The unique hybrid blockchain architecture allows the “highly-scalable, secure and commercial grade” network to tackle cross-border issues associated with global trade.

In 2021, XinFin entered into a number of partnerships with key players in the eCommerce industry. Shopping.io, a platform that lets users use crypto with eBay, Amazon and other online marketplaces, added XDC to their services. Furthemore, XinFin joined forces with DeFi security protocol HAPI, and was the first blockchain added to the global Trade Finance Distribution (TFD) initiative.

XinFin is also one of the first blockchain companies to launch a decentralized email system. It is known as LedgerMail and was released in August 2021, receiving over 50,000 signups within a week. LedgerMail is focused on vigilant security, encryption and protection against potential data breaches.

What is the XDC token?

XDC, or XinFin Digital Contract, is the native token of XDC Network. It is responsible for powering the protocol from an operational and economic perspective. XDC tokens can be used on integrated dApps to purchase goods and services internationally and are a necessary requirement for users that wish to run master nodes on the network.

XDC Network development updates in 2023

The XDC Network, a hybrid blockchain network, has marked 2023 with significant developments, establishing itself as a faster and more cost-effective alternative to Bitcoin and Ethereum. The network’s progress this year reflects its growing popularity and technological advancements. Here’s a detailed overview of the key updates and achievements:

• Impressive Showing at Consensus 2023: XDC Network made a strong impression at the prominent cryptocurrency conference, Consensus 2023. The event was a crucial platform for community building, technological innovation, and collaboration. The XDC team highlighted the network’s unique value, introduced new features, and engaged in meaningful interactions with other projects and developers​​​​.

• XDC 2.0 Update Presentation: At Consensus 2023, Pramod Viswanath, Head of the XDC Network Protocol team, and Quincy Jones from the XDC Foundation presented the XDC 2.0 update. This update includes state-of-the-art Byzantine Security, Super Fast Transaction Finalization, and Built-In Forensic Monitoring features. Furthermore, they introduced the upcoming XDC Subnets feature, which will allow the creation of private subnets inheriting the security of the XDC 2.0 protocol​​​​.

• Web3athon Participation and Grants: The XDC Community Co-Founder, Jon McBee, presented at Protocol Village during Consensus 2023. He introduced the XDC Network and the rules for competing for a $50,000 USD grant as part of the Web3athon held in conjunction with the event. Civic, an ecosystem partner, also contributed a $10,000 USD grant​​​​.

• Andromeda Upgrade: In December 2022, the XDC Network completed its Andromeda Upgrade, which brought significant changes to the XDPoS consensus protocol. The upgrade revised the network’s fee structure and updated the Ethereum Virtual Machine (EVM) of the XDC Network to support the latest version of Solidity. This enables developers to deploy code from different EVM chains without extensive customization, enhancing the network’s appeal to developers and ecosystem partners​​.

• Partnership with Trustology: XDC Network announced a partnership with Trustology, a leading institutional crypto custodian wallet provider. This collaboration aims to provide secure, institutional-grade on-chain custody for the XDC Network’s native XDC utility token, facilitating the development of a secure, compliant trade finance network across decentralized finance (DeFi) applications and markets​​.

• Price Performance: The XDC Network experienced a significant price rally in December 2022, gaining as much as 50% and reaching prices as high as $0.09791. This rally led to a total market capitalization of over $1.1 billion. However, the price has seen corrections since then, indicating the volatile nature of the crypto market​​.

• Community Support and Engagement: The XDC Network has garnered a strong community of supporters, particularly for solving critical issues like scalability and network fees. Community members have expressed their bullish stance and belief in the network’s future potential through various social media platforms​​.

These developments collectively indicate the XDC Network’s commitment to innovation and its rising prominence in the blockchain industry. The network’s advancements in technology, especially in terms of speed and cost-efficiency, position it as a strong competitor in the blockchain space.

Official website: https://xinfin.org/

Best cryptocurrency wallet for XDC Network (XDC)

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 XDC Network (XDC)?

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).