Validity (VAL) is the native utility token to the Validity Smartchain. This platform aims to create a decentralized service platform that generates trust and security in the digital space. In this article, we are going to explore the VAL token, and its platform and provide a brief guide on how to get it.
What is VAL?
Validity (VAL) formally known as ‘Radium Core’ has its origins in the digital space as early as 2014. This utility token is native to the Validity Smartchain, created by Justin Jacobeen, creator of Smartchain Software Solutions. This token was designed with the controversial work of John Nash and ‘Game Theory’ in mind, a cold war era schizophrenic mathematician that posited that human interaction was selfish and strategic in nature.
The revenue model of VAL is designed to create greater degrees of utility amongst the platform and therefore create greater degrees of value for the token holders. Validity platform claims it can achieve this by creating a degree of trust and security that allegedly ‘cannot be found on the internet.’
On the technical side, VAL operates as a ‘Proof of Stake’ blockchain system.
Step 1: Register on Fiat-to-Crypto Exchange
To buy VAL, you’re going to have to exchange another cryptocurrency like Bitcoin (BTC) or Ethereum. (ETH) For this handy guide, we are going to be using BTC.
To begin, you’ll need to acquire some BTC. So you’re going to have to sign up for a Fiat-to-Crypto Exchange. When shopping around for crypto exchange, there are many options to choose from, so it is always a good idea to find the exchange that best suits your needs.
Sign up to CryptoWallet and answer the prompted questions. 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
Once your BTC is displayed in your CryptoWallet your next step is going to be to trade that BTC on an altcoin exchange.
Firstly you’re going to have to find an altcoin exchange that handles the trading pair of BTC/VAL. Thankfully in the case of VAL, you have many different exchanges to choose from. Exchanges such as Bittrex, Finebox, SouthXchange, and AEX. But for this guide, we are going to be using Upbit.
After that, you must register with Upbit to begin trading. The registration process will be straightforward, requiring just basic information, KYC information, and the implementation of security measures, such as passwords and two-factor authentication.
Upbit will tell you when your account is ready to trade after you’ve finished the registration, then you’ll need to transfer some BTC from your CryptoWallet account to your new Upbit account. Select ‘deposit funds’ from the ‘funds’ menu. Upbit will then provide you with a wallet address or a QR code that you can input into your CryptoWallet. Then, on your CryptoWallet account, click ‘send funds.’ Now, enter the amount you’d like to send into your CryptoWallet and scan or enter the Upbit address.
After a brief confirmation time, your BTC will appear on your Upbit account, and you may then exchange it for VAL. Simply navigate to the Upbit trading tab and choose the BTC/VAL trading pair as well as the trade amount and hit trade.
After you’ve completed all of this, you’ll have your very own VAL!
Last Step: Store VAL Securely
Now you got some VAL and you might be wondering where to store it? For this, you’re going to need a wallet.
In the case of VAL you are somewhat limited when it comes to wallets, but generally speaking, it pays to shop around for a wallet system that best suits your needs. One wallet system worth keeping an eye on in the future is the previously mentioned CryptoWallet. Currently, it doesn’t support VAL, but it is with noting that it has road mapped future coin integrations for the future.
At the time of writing the two main means of VAL storage are the cold wallet Ledger Nano S and the Ledger Nano X.
You’ll need to move your coins from Upbit to your selected system after you’ve picked a wallet. To do so, go to Upbit’s ‘withdraw money’ option and input or scan your code into the address box; your VAL will be safely saved in your wallet within a short time.
Other Useful Tools for Trading VAL
We are not allowed to give out trading or financial advice. However, we can provide more general information about trading tools that can allow you to make better trades with your funds.
Trading platforms generally include some sort of on-screen up-to-date data that allows you to track an asset’s movement, growth, price, volume, or intensity.
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 growth/movement trend.
The Average Directional Index (ADI) is a simple indicator that informs traders about the strength of a trend. The movement intensity of the asset offers you a better picture of how often lengthy movements occur.
Traders may see the asset price over time and in connection to a certain situation inside that period using the Stochastic Oscillator.
Latest News for VAL
Here we are going to briefly discuss some of the news associated with the token VAL.
On Oct 26 2021 Validity released an update announcing that discussed its Client v13.1.6. This update announced several new features that can potentially increase the value of the coin.
On Aug 5 2021 Validity released some notes on patches and bug fixes, additionally discussing various feature updates and all new features.
Can I buy VAL with cash?
No, Val cannot be bought directly with cash. However, VAL can be bought via the above guide.
Are there any quick ways to buy VAL in Europe?
Upbit is an altcoin exchange platform that hosts VAL and is readily available in Europe.
Are there any alternative platforms to buy VAL or Bitcoin with credit cards?
Not in the direct sense, however by following the above guide you’ll be able to quickly and easily purchase VAL.