The Walton token is named after the founder of RFID, Charles Walton. Waltonchain puts together RFID technology with blockchain to revolutionize the supply chain. RFID is a tag attached to objects, and it can help track items. RFID can be applied in various places; from tracking of shipped items to automatic payments at toll booths.
Waltonchain has combined RFID and blockchain technologies to provide an entirely decentralized supply chain. The RFID readers are considered nodes in the chain whereas the RFID tags are devices that are being connected to the chain technology. Waltonchain plans to build on IoT (Internet of Things) using the blockchain technology.
Walton will extend the use of its decentralized ledger technology to areas other than financial products, keeping records, etc. A Waltonchain product can be easily tracked from the moment it is manufactured to the time it reaches the consumer with all data being recorded on the blockchain at every stage. This process will lead to a more efficient manufacturing process and reduction of labor cost. The technology has a real-world application right now.
The token used on the Waltonchain network is called the Walton Coin. The project started with an ICO month back but now being traded on several exchanges, with Binance being one of the places it’s most traded. The platform is set to take the blockchain technology to the next level by combining hardware and software, and their integration has been fantastic.
Best Wallet To Store The Walton Token
The most comfortable and most convenient wallet for storing the Walton Tokens would be MyEtherWallet as it’s an ERC-20 token. MyEtherWallet stores any coin on the Ethereum blockchain which includes the Walton Token.
The following steps guide you through purchasing Walton Tokens from the Binance Exchange.
You need first to acquire some Bitcoin, Ethers or Litecoins as you cannot purchase Walton on Binance with fiat but with cryptocurrencies. There are some ways to buy Ethers; from friends, from LocalEthereum, Coinbase or a similar service. When you have some Ethers in your wallet, then you are set to trade some of the Walton Tokens.
Now to trade those Ethers for Walton, do the following:
- Open an account on the Binance platform. Without this, users are unable to trade one cryptocurrency for another.
- Verify the account you opened via the link that would be sent to the email address your registered.
- Send some of your acquired Ether tokens to the Binance platform. To do this, click on the FUNDS link at the top of the page, then click on the Deposit Withdrawals options that appear right under it.
- Search for Ethereum on the page and click on the deposit button in front of it.
- Copy the generated Ethereum address displayed. This is where you will send in your Ether tokens. When the transaction is completed successfully and confirmed on the Ethereum blockchain, your Ether tokens should show up on Binance in few minutes.
- Click on the Exchange link on top of the page. You should find this next to the Binance logo. Then click on the Basic options that are displayed.
- On the next page, search for WTC/ETH pair from the list of cryptocurrency pairs on the page.
- Below the chart, at the Buy WTC section, enter the amount of WTC tokens you want to purchase. Click on the percentage buttons to select the how much of your funded Ethers you wish to use to obtain Walton. Clicking on the 100% link uses all of your funds.
- Click on the Buy WTC button.
Your Walton Tokens should appear in its wallet on the Binance Exchange in few munites.
You are now free to transfer those tokens out of the exchange to your desired wallet.