When it comes to purchasing crypto, several crucial factors come into play, including location and protocol. Among various cryptocurrencies, WorldCoin stands out as a unique digital asset that might be harder to obtain compared to others. While WorldCoin is currently not supported across Coinbase’s extensive ecosystem, there are alternative ways to acquire it. In this guide, we will walk you through the step-by-step process of buying WorldCoin and highlight essential tips to ensure a smooth transaction.
Check CoinMarketCap for WorldCoin Availability
The first step in acquiring WorldCoin is to check CoinMarketCap, a comprehensive platform that lists various cryptocurrencies and their purchasing options, also known as market pairs. Follow these steps:
- Visit CoinMarketCap and search for “WorldCoin.”
- Click on the “Market” button adjacent to the price chart.
- A complete list of platforms offering WorldCoin for purchase will appear, along with the currencies you can use to buy it.
- Look for the shorthand “WDC” (WorldCoin) paired with a second currency. The second currency is what you’ll use to acquire WorldCoin. For instance, if you prefer using the U.S. Dollar, look for “WDC/USD.”
Choose a Suitable Platform for Purchase
Selecting the right platform for your crypto purchase is crucial. Different platforms offer varying levels of security, reliability, and liquidity. Before creating an account, conduct thorough research to identify a platform that meets your requirements and ensures a safe and seamless buying experience.
Complete the Purchase on Your Chosen Platform
Every platform operates differently, with some being more user-friendly than others. Generally, buying crypto with fiat currency like the U.S. Dollar is simpler than purchasing it with another cryptocurrency. If you intend to buy WorldCoin with another crypto, follow these steps:
- Create a crypto wallet that supports WorldCoin. ( see more below )
- Purchase the first cryptocurrency using your desired currency.
- Use the first currency to buy WorldCoin on the platform you have selected.
In case you encounter any difficulties during the purchase process, most platforms offer helpful guides. Additionally, there is a vibrant crypto community on platforms like YouTube and Twitter, where enthusiasts often share valuable guides and insights.
Introducing WorldCoin: Empowering a New Financial Network
Worldcoin was founded with a vision of establishing a globally-inclusive identity and financial network, owned by the majority of humanity, all while adhering to organic principles. If successful, Worldcoin could significantly enhance economic opportunities, offer a dependable solution to differentiate humans from AI online, while preserving privacy, enable global democratic processes, and pave the way for an organic AI-funded Universal Basic Income (UBI).
Worldcoin comprises a privacy-preserving digital identity network known as World ID, built on the foundation of proof of personhood, along with a digital currency named WLD, where permitted by laws. Every human is eligible to receive a share of WLD solely for being human. Currently, World ID and WLD are complemented by the World App, the first frontend to World ID and the Worldcoin Protocol, thoughtfully developed by the contributor team at Tools for Humanity (TFH).
“Proof of personhood” serves as a fundamental pillar of Worldcoin, aiming to establish the unique and human identity of individuals. Once verified, it grants the individual the ability to assert their real-person status without revealing their real-world identity.
At present, proof of personhood remains an unresolved global challenge, making online voting and large-scale value distribution problematic. This issue becomes even more critical as increasingly powerful AI models make it difficult to distinguish humans from bots. Should Worldcoin succeed, World ID could potentially become the global standard for proof of personhood.
Some core assumptions underpinning Worldcoin’s philosophy are:
- Proof of personhood is an essential digital primitive, especially as AI becomes more powerful.
- Scalable and inclusive proof of personhood aligns incentives among network participants, fostering the addition of real humans to the network.
- Worldcoin issues tokens (WLD) to grow the network with security inherited from Ethereum, akin to how Bitcoin secures the Bitcoin network.
- Custom biometric hardware provides the most reliable means of issuing a global proof of personhood, particularly in an era of advancing AI.
World ID World ID safeguards privacy while proving personhood online through zero-knowledge proofs, facilitated by a custom biometric device called the Orb. The Orb is designed to offer a long-term viable solution for AI-safe proof of personhood verification. World IDs are issued on the Worldcoin protocol, enabling individuals to prove their humanness to any verifier, including web2 applications, while preserving privacy. In the future, the protocol may allow the issuance of other credentials as well.
World ID aspires to be personbound, ensuring it is exclusively used by the individual to whom it was issued. It should be incredibly challenging for fraudulent actors who steal or obtain World ID credentials to use them, and individuals should have the means to regain possession of a lost or stolen World ID.
Worldcoin Token The token is issued to all network participants to align their incentives with the network’s growth. This is particularly crucial in the early stages to overcome the “cold start problem” and could result in the widest distribution of the Worldcoin token (WLD).
World App World App acts as the initial frontend to World ID, guiding individuals through Orb verification and securely managing their World ID credentials. It implements cryptographic protocols to share these credentials with third parties while preserving privacy. The goal is to provide seamless access to global decentralized financial infrastructure, with the potential for many different wallets to integrate World ID in the future.
How does Worldcoin Work?
Worldcoin revolves around World ID, a privacy-preserving global identity network. Through World ID, individuals can prove their real and unique human identity to any platform that integrates with the protocol. This facilitates fair airdrops, protects against bots and sybil attacks on social media, and enables a more equitable distribution of limited resources. Additionally, World ID has the potential to facilitate global democratic processes and innovative forms of governance, such as quadratic voting, and could eventually support an organic path to AI-funded UBI.
To engage with the Worldcoin protocol, individuals must first download World App, which supports the creation of a World ID. Individuals visit the Orb, a physical imaging device, to get their World ID Orb-verified. Most Orbs are operated by independent local businesses called Orb Operators. The Orb uses multispectral sensors to verify humanness and uniqueness, issuing an Orb-verified World ID, with all images promptly deleted on-device by default (unless explicit consent to Data Custody is given).
Potential Applications Worldcoin has the potential to greatly enhance global equality of opportunity by enabling universal access to decentralized financial and identity infrastructure. As the network grows, its utility is expected to expand, leading to transformative changes in how humans transact value, identify themselves, and interact online. This could include:
- Swift and borderless transfer of digital money, connecting the world economically.
- Safer digital money transactions compared to cash, especially during crisis situations.
- Direct ownership and control of assets without relying on third parties.
- Filtering out bots and spam messages through sound and frictionless digital identity.
- Inclusive global democratic governance mechanisms through reliable proof of personhood.
- Incentive alignment for companies and consumers, reducing fraud and benefiting both parties.
Intersection of Finance and Identity
- Equal distribution of scarce resources through proof of personhood, benefiting social welfare programs.
- Ensuring everyone’s inclusion in AI governance to maximize benefits for all humans.
Worldcoin’s organic approach seeks to revolutionize the digital economy while upholding principles of privacy, inclusivity, and transparency for the majority of humanity.
Get Started with WorldCoin
To begin your journey with WorldCoin, follow these steps:
- Download the World App, the first protocol-compatible wallet for WorldCoin.
- Visit an Orb, a biometric verification device, to receive your unique World ID.
- The World ID serves as your proof of real and unique identity online while maintaining complete privacy.
- As the global distribution of Orbs is expanding, you can find the nearest Orb location and book a verification appointment through the World App or at worldcoin.org.
Take the leap into the world of WorldCoin and explore the possibilities of a decentralized and inclusive financial future. Empower yourself with a digital identity and currency that transcends borders and opens up new horizons for economic growth and financial autonomy.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.