HOW AND WHERE TO BUY MULTIVAC (MTV) – AN EASY STEP BY STEP GUIDE

What is MTV?

MultiVAC (MTV) is a public blockchain designed for large-scale and complex decentralized applications (or Dapps). Dapps are designed to run like regular applications, except they are not controlled by any central entity. Instead, they rely on a distributed blockchain to manage and enforce the rules of the application. 

As a blockchain, MultiVAC’s main value proposition is its high throughput. This means that many transactions can take place without slowing down the blockchain or raising fees. MultiVAC aims to accomplish this through a technique known as sharding. Sharding is a method for dividing a large set of data (such as blockchain) into many smaller parts to avoid congestion. 

MTV is the native token of the MultiVAC ecosystem and is mainly used as a reward for those who contribute computing power to the network. Owners of MTV can also stake their tokens to receive rewards which are distributed with each block (roughly every 10 minutes).

Step 1: Register on Fiat-to-Crypto Exchange

You will need to register on a fiat-to-crypto exchange before you can buy cryptocurrencies like MTV. Fiat-to-crypto exchanges are the onramps to the crypto economy. Once you have exchanged your fiat money for a cryptocurrency of your choice it will be much easier to swap between cryptocurrencies and move your crypto in a permissionless way wherever you please. 

CryptoWallet.com provides a fast and easy registration process and makes it easy to buy crypto with just a debit or credit card.

Step 2: Buy BTC with fiat money

Now that you have registered with CryptoWallet.com you are all set to buy Bitcoin (BTC) with your debit or credit card. Bitcoin is the most widely accepted cryptocurrency and is often used as a trading pair (an option to swap between) for other cryptocurrencies such as MTV, which is why it is a good choice to buy initially if you’re planning to trade for MTV later.  

CryptoWallet.com focuses on a streamlined process to buy cryptocurrencies and offers five of the most well-known large-cap digital assets including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT).

Once you have purchased BTC on CryptoWallet.com, you are ready to trade that BTC for MTV on an altcoin exchange, which is the next step.

Step 3: Transfer BTC to an Altcoin Exchange

You now have BTC and are ready to trade it for MTV. To do so, you will need to first send your BTC to an altcoin exchange that supports MTV. 

Currently, MTV is supported by three major altcoin exchanges: Gate.io, Kucoin, and MEXC Global. You can compare the exchange rates for trading between BTC and MTV on all three exchanges by scrolling to the bottom of the Coingecko.com page for MTV. 

Once you have chosen the altcoin exchange with the most favorable rates you can sign up and find your BTC address given to you by that exchange. You can then log back into your CryptoWallet.com and paste that address into the “Send To” section.

Once the BTC has arrived on the altcoin exchange (this may take 15-45 minutes) you can search for the BTC/MTV trading pair and make your trade.

Last Step: Store MTV securely in hardware wallets

Cryptocurrencies like MTV have the potential for exponential increases in value. This is why it is important to consider security solutions for your digital assets, even if your holdings seem small to you. 

Those looking to store MTV for long periods should consider a hardware wallet such as a Trezor or Ledger. Both of these hardware wallets are reputable and support ERC-20 tokens such as MTV. Hardware wallets store your crypto keys offline so that they are significantly less vulnerable to online hacks. However, purchasing hardware wallets can be expensive and they can be cumbersome if you are not looking to store your MTV for a significant time. 

You may also want to consider reputable software wallets such as MetaMask, which allows you to securely store your MTV online and have readily available access to it when need be. In most cases, a reputable software wallet will provide enough security for storing small to medium amounts of MTV.

Other Useful Tools for Trading MTV

If you prefer, you can also take advantage of decentralized exchanges like Uniswap to trade for MTV. Decentralized exchanges allow you to make trades directly from your wallet without having to give custody to an altcoin exchange.  

Uniswap uses Ethereum (ETH) for trading pairs, so in this case, you would need to purchase ETH instead of BTC on CryptoWallet.com. However, the fees for trading with ETH on decentralized exchanges can be quite high and the user experience is not quite up to the standard of traditional exchanges at this point. For these reasons, we recommend sticking to using BTC and a traditional altcoin exchange to trade for MTV.

Latest News for MTV

MTV recently announced its ambitious 2022 roadmap which includes rolling out an NFT exchange on top of the platform as well as a new ecosystem grant program that will provide funding to support developers who are building applications on the MultiVAC blockchain. 
In addition, MultiVAC has also announced that they will host a hackathon to bring leading ecosystem developers together to brainstorm and imagine new and innovative use cases for the chain. The date of the hackathon is yet to be released.