Looking for exciting new Defi projects on the popular Binance Smart Chain? Look no further than WindSwap, a promising decentralized exchange (DEX) with big future plans and its own native token (WINDY).
In this easy step-by-step guide, we will show you exactly how and where you can buy and store WINDY in the easiest way possible.
What is WINDY?
WINDY is the native token of WindSwap, a decentralized exchange (DEX) that runs on the BSC (Binance Smart Chain) network. Currently, WindSwap allows you to trade nearly any BEP-20 (BSC standard) token and the platform has future plans for a cross-chain bridge that will allow users to convert TRX (Tron) and ETH (Ethereum) tokens to the BSC network.
WINDY is itself a BEP-20 (BSC standard) token with a current maximum supply of 25 million. One unique feature is its deflationary schedule which will shrink the total amount of tokens from 25 million to just 8.8 million over 192 cycles. Each of these cycles lasts approximately one month.
If this sounds interesting to you, read on to learn the easiest and best ways for you to buy and store WINDY in this step-by-step guide.
Step 1: Register on Fiat-to-Crypto Exchange
Before you can purchase cryptocurrencies like WINDY you need to register on a fiat-to-crypto exchange that allows you to trade your fiat money for crypto. Once you have purchased a cryptocurrency of your choice on this type of exchange it will be much easier to move throughout the crypto ecosystem without permission and trade for cryptocurrencies like WINDY.
CryptoWallet is an excellent choice as a fiat-to-crypto exchange. The CryptoWallet app is easy to use and available for download on both Apple and Android devices. On top of this CryptoWallet provides a guided registration process and offers a wide array of unique features including protection by BitGo, an industry-leading custodian, and a crypto debit card that allows you to spend your crypto like regular money anywhere you can make debit payments.
Once you have downloaded and registered on the CryptoWallet app you are ready to move on to the second step below.
Step 2: Buy BTC with Fiat Money
You’ve completed registration and it is now time to buy your first cryptocurrency. CryptoWallet offers five of the largest and most well-known cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT). Best of all CryptoWallet allows you to buy any of these cryptocurrencies using your debit or credit card for a fast and easy process.
After purchasing one of these large-cap cryptos with your debit or credit card you will be able to trade this crypto for WINDY in step 3 below.
We recommend purchasing BTC, to begin with, since it is the most widely accepted cryptocurrency which will make the process of finding an altcoin exchange to trade for WINDY in the next step that much easier.
Now it is time to learn how to trade your BTC for WINDY in the next step.
Step 3: Transfer BTC to an Altcoin Exchange
WINDY is available on a number of altcoin exchanges including PancakeSwap, a decentralized exchange (DEX) built on the Binance Smart Chain blockchain. Usually, you would be able to trade your BTC directly for your desired cryptocurrency. However, since WINDY is a relatively small and niche cryptocurrency that is only available on decentralized exchanges, it will require one additional transaction which will also be included under this step.
The first thing you will need to do is sign up for an account on the altcoin exchange Binance. Since you will be swapping crypto-for-crypto you will not need to complete an extensive registration process on Binance, so the sign-up should not take very much time.
Once signed up on Binance you can transfer your BTC from CryptoWallet to Binance and swap it for BNB (the native cryptocurrency of the Binance Smart Chain). To do this, find your Binance BTC receive address, then paste it into the ‘Send To’ field on the CryptoWallet app. Once the BTC has arrived you can search for the BTC/BNB trading pair and execute your trade.
Now that you have BNB you can transfer it for WINDY using a Binance Smart Chain (BSC) decentralized exchange (DEX) such as PancakeSwap. First, you will need to move your BNB to a wallet supported by Pancakeswap. We recommend MetaMask since it is well known and easy to use. After downloading MetaMask you can send your BNB from Binance to your BSC wallet on MetaMask.
Now for the last part of this step, connect your MetaMask wallet with BNB to Pancakeswap, search for the BNB/WINDY trading pair and execute this trade.
Congratulations, once the trade has been completed you will be the proud owner of WINDY in your MetaMask wallet.
Step 4: Store WINDY Securely
Even small amounts of cryptocurrency have the potential to significantly rise in value so it is important that you consider secure options to store your WINDY.
There are generally two options for storing cryptocurrencies: software (online) wallets and hardware (offline) wallets, each coming with its own tradeoffs. Software wallets are free to use, easy, and convenient. A software wallet is usually the best choice if you are storing small to medium amounts of crypto and want easy access to it. Hardware wallets, on the other hand, are the most secure option since they keep your keys offline. However, hardware wallets can be expensive and more difficult to use, particularly if you require regular access.
CryptoWallet is an example of a software wallet that prioritizes security as well as convenience. All funds stored in CryptoWallet are protected by BitGo, a leader in the digital asset security space. CryptoWallet also has a wide array of features including its crypto debit card which makes spending your crypto as easy as using a debit card anywhere that accepts debit payments. Unfortunately, CryptoWallet is focused on major large-cap cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT), and not smaller niche currencies such as WINDY.
You also have the option of storing WINDY in your MetaMask wallet where it is currently stored. For smaller amounts, or if you require regular access this is not a bad option. However, it is important to consider that MetaMask stores your keys within your browser and is therefore not the most secure option for large amounts of funds.
In this case, we recommend using a hardware wallet such as a Ledger or a Trezor, which will provide the added security of storing your keys offline. Just make sure the hardware wallet you choose supports BSC tokens such as WINDY.
Other Useful Tools for Trading WINDY
Other useful tools for trading WINDY include price-feed tools like CoinGecko.com and CoinMarketCap.com which provide you with a real-time price chart and statistics such as current market cap and trading volume. In addition to this, CoinGecko and CoinMarketCap will provide you with a list of exchanges currently trading WINDY as well as the trading pairs they support (for example BTC to WINDY or USDT to WINDY, etc).
Can I buy WINDY with cash?
Unfortunately, you cannot buy niche cryptocurrencies like WINDY directly with cash. However, a cash-like way to purchase WINDY is to use your debit or credit card to purchase BTC on CryptoWallet and then trade that BTC for WINDY on an altcoin exchange.
Are there any quick ways to buy WINDY in Europe?
The quickest way for you to buy WINDY in Europe is to use the CryptoWallet app which will allow you to buy Bitcoin (BTC) directly with your debit or credit card. Once you have completed this purchase you can easily swap your BTC for WINDY on an altcoin exchange.
Are there any alternative platforms to buy WINDY or Bitcoin with credit cards?
While the combination of CryptoWallet and an altcoin exchange that supports WINDY is likely the easiest and best option to purchase BTC with a credit card and then swap that BTC for WINDY, other options may exist. You should do your own research as to which option is best for you and what the potential trade-offs are for your chosen platform.