DAV Coin (DAV) is a blockchain-based project leading the charge towards a fully decentralized transportation system that functions via the blockchain. This ambitious project has generated quite a bit of buzz with Forbes, Vice, and Yahoo all discussing DAV.
What is DAV?
DAV Coin (DAV) was released in 2017 and was founded by Noam Copel, Tal Ater, and John Frazer. DAV seeks to create a decentralized autonomous transportation network that uses the peer-to-peer protocol and ‘Smart Mission Contracts’ to allow for a new kind of transportation sector that uses blockchain-based technologies.
The business model of DAV is to create value for its coin by creating a network in which individuals or businesses can join the DAV transportation system with both manned and autonomous vehicles. This can include drone deliveries, shipping, and ride-sharing. Blockchain technologies have been proven to be uniquely suited to the transportation and shipping industry and as such DAV appears primed to capitalize on this emerging sector.
On the technical level, DAV uses the ERC-20 standard and operates a host of Trustless Cooperation Tools, communications protocols, and ‘Smart Mission Contracts.’ At the time of writing DAV has a coin ranking of #1519 according to coinmarketcap and a market cap of $1,872,765.
Step 1: Register on Fiat-to-Crypto Exchange
To buy DAV, you’ll need to exchange another cryptocurrency like Bitcoin (BTC) or Ethereum. (ETH) We’ll be utilizing Bitcoin (BTC) in this tutorial.
So, first, you’ll need to get some Bitcoin (BTC). You’ll need to sign up for a Fiat-to-Crypto Exchange to do so. You have a lot of options when it comes to choosing a crypto exchange, and each one is a bit different, so it pays to browse around. However, for the sake of this demonstration, we will use CryptoWallet.
CryptoWallet is a safe and simple to use program available on the Apple App Store and Google Play Store. After you’ve downloaded CryptoWallet, just follow the onscreen instructions to link one of your current fiat accounts to the app. After that, you may deposit money straight into your CryptoWallet account from your bank account.
Step 2: Buy BTC with Fiat Money
After transferring your currency into your CryptoWallet account, you may now exchange it for BTC.
To begin, go to the CryptoWallet app’s trading page and search for Bitcoin. Simply select the desired amount and click “Buy.” CryptoWallet offers several price comparison charts, market statistics, and trading alternatives to help you make the best investment decisions with your money.
Following the completion of your BTC purchase, a brief confirmation time will follow, after which the amount of BTC purchased, as well as any remaining funds, will be shown in your CryptoWallet account.
Step 3: Transfer BTC to an Altcoin Exchange
So you’ve got your hands on some BTC, for your next step you’re going to have to exchange it for DAV. For this, you’re going to have to register to an Altcoin Exchange.
There are many different Altcoin exchanges available, so it’s always wise to shop around. The first thing you should look for is whether or not the exchange handles the trading pair BTC/DAV. In this regard, we are somewhat limited in terms of choice with only BitForex and HitBTC handling the pair. So for this guide, we will be using HitBTC.
Next, you’re going to register with HitBTC and begin trading. The registration process will be straightforward, requiring only some basic information, KYC information, and the implementation of security measures, such as passwords and 2-step verification.
HitBTC will inform you that your account is ready to trade after you’ve completed these procedures. Then you’ll need to transfer some BTC from your CryptoWallet account to your new HitBTC account. To do so, go to the “funds” page and choose “deposit funds.” After that, HitBTC will provide you with a wallet address or a QR code. Then go to your CryptoWallet account and click the ‘send funds’ button. Now, enter the amount you want to send into your CryptoWallet and scan/enter the HitBTC address.
After a brief confirmation time, your BTC will appear on your HitBTC account, and you may exchange it for DAV. Simply choose the BTC/DAV trading pair and the amount you wish to trade from the HitBTC trading menu.
After you’ve completed all of this, you’ll have some DAV!
Last Step: Store DAV Securely
After you’ve got some DAV you might be asking yourself where to store it, and for this, you’re going to need a wallet.
In the case of DAV, you are somewhat limited in terms of choice with MetaMask and TrustWallet being your key two options.
You’ll need to move your coins from HitBTC to your selected system after you’ve picked a wallet. Now, go to HitBTC’s ‘withdraw money’ option and input or scan your code into the address box; your DAV will be safely saved in your wallet within a short time.
The aforementioned CryptoWallet is another wallet solution worth keeping an eye on in the future. While it does not accept DAV at the moment, this wallet is safe and easy to use, with hopes to add additional cryptocurrencies in the future.
Other Useful Tools for Trading DAV
We are not at liberty to provide you with trading tips or financial advice, however, we can provide a very brief rundown of some of the tools that can be found in most exchanges, that if used correctly will allow you to make the best decisions with your money.
On-Balance-Volume (OBV) is a straightforward indicator that depicts both positive and negative volume movement, as well as the value direction of an asset’s movement trend.
The Average Directional Index (ADI) is a simple indicator that informs traders of the strength of a trend. The asset’s movement intensity might help you figure out how often lengthy motions happen.
Traders can see the asset price over time and in connection to a certain situation inside that time frame thanks to the Stochastic Oscillator.
Can I buy DAV with cash?
Altcoins, in general, cannot be purchased in a direct fashion with fiat currency or cash. You’re going to have some of your own crypto t trade on an altcoin exchange. Thankfully we have a handy guide seen above that can show you how to get your very own DAV.
Are there any quick ways to buy DAV in Europe?
Altcoin exchange platforms are very quick and easy to use and thankfully, fully accessible in the EU. Take a look at the guide above to see some of the altcoin exchange platforms that handle DAV trading pairs.
Are there any alternative platforms to buy DAV or Bitcoin with credit cards?
In general, you cannot use credit cards to purchase DAV or other altcoins. Instead, you’re going to have to go through an altcoin exchange to trade another crypto for DAV. Bitcoin, however, can be purchased with a credit card through services such as eToro.