Launched on September 28th, Timechain Swap Token is a Canadian-based decentralized exchange aggregator that aims to save you both time and money, but also hopes to create value for its very own native token, TCS. With a long road ahead of it, TCS operates as the consumptive mechanism for an ecosystem that one day hopes to seamlessly operate via both the ERC20 chain as well as the Binance Smart Chain BEP system.
So in this guide, we are going to talk a little about the background of this token, discuss its use case a bit, and even provide you with a handy guide that will help you along your very own TCS journey.
What is TCS?
Created in 2021, TCS is the brainchild of Louis Cleroux, a controversial figure in the crypto space, who is currently under investigation by financial authorities. This Canadian-based system completed its 1.5 million start-up thanks to a combination of angel investors, LedgerLink Labs, Alpha Bit, and Launchpool and is a healthy part of the Fantom Ecosystem.
While this coin has a long road map ahead of it, with plans for further expansion into both the BEP20 and ERC20 chains, the platform/token already has a use case of its own and a healthy community around it.
TCS, as the system’s native, serves as both a value holder for token holders/platform operators and a consumptive connecting tissue for the platform itself. Allowing for business to be conducted in a way that creates value for both the platform and the token holder themselves.
Step 1: Register on Fiat-to-Crypto Exchange
TCS is a little different from other cryptocurrencies or altcoins, and as such, it will require one or two extra steps to get your hands on. But don’t worry; with this handy guide and a bit of patience, you’ll have your own in absolutely no time.
Firstly, you’re going to have to purchase a more mainstream cryptocurrency, such as Bitcoin (BTC) or Ethereum. (ETH) To keep things straight, we are going to be using Bitcoin (BTC). To get some BTC, you’ll have to find a fiat-to-crypto exchange.
There are many different exchanges for you to choose from, and different providers will provide different services at differing rates, so it’s always wise to shop around. But for this guide, let us use our very own CryptoWallet app, as we believe it to be quick, safe, and secure for both crypto aficionados and beginners alike. The CryptoWallet app can be found on the Apple App Store and the Google Play Store.
Once downloaded to your desired device, follow the onscreen instructions to register. This requires some basic information, the setting up of an account, and a few security details. Once registered, look at the ‘deposit’ option in your new account and follow the onscreen instructions to send some fiat funds from an existing bank account into your new CryptoWallet account.
After a very brief confirmation period, your funds will be displayed in your CryptoWallet account.
Step 2: Buy BTC with Fiat Money
Now that you have some funds in your CryptoWallet account, you can trade them for some BTC. Simply look at the trading tab, select BTC, and the amount you wish to purchase and confirm. After a very brief confirmation time, which can depend on congestion, your new BTC as well as any remaining fiat funds will be displayed within your CryptoWallet account.
When you use cryptocurrency exchanges like TrustWallet, CryptoWallet, or Metamask, you’ll get access to a variety of asset price charts, trading tools, and live market data. It’s a good idea to become familiar with these and pay close attention to useful tools because, if used correctly, they can help you make more efficient and perhaps even profitable financial decisions.
Step 3: Transfer BTC to an Altcoin Exchange
The next step is going to involve you trading your new BTC for some WBTC, or Wrapped BTC. Essentially, because TCS isn’t on the same blockchain as BTC, you’ll have to use another crypto to “move over” towards the chain, and for that you need WBTC. To purchase WBTC, look at exchanges such as Coinbase, Binance, FTX, or Uniswap.
Due to its popularity, WBTC is found on many of the largest exchanges out there. But once you’ve selected your desired exchange, go through its registration process, which will be much the same as before, and move your original BTC coins from your CryptoWallet Account to your chosen exchange. This can be done by looking at your chosen exchanges’ deposit option, entering the exchange’s wallet address into your CryptoWallet, and sending the funds.
Once the BTC is visible in your new exchange account, navigate over to the trade option and select the trading pair BTC/WBTC. Select the amount you wish and hit “trade.”
Now with this WBTC, you can trade it for some TCS.
To do this, download MetaMask to your device, and then link it to the exchange where your WBTC resides. Once linked, send the WBTC to your new MetaMask. Once completed, find your way over to a trading platform that hosts the desired TCS token, such as Timechain Swap’s official website, Spookyswap, or SpirtSwap.
Now follow the onscreen instructions offered by one of these exchanges to link your MetaMask to the website. This can be done manually or via a QR code. Choose the WBTC/TSS trading pair and the amount you want to trade, and you’re done! Your very own Timechain Swap Token.
Final note: if you encounter any issues at this stage or wish to trade in a more detailed manner, look to the Defi Exchanges’ “slippage” options.
Last Step: Store TCS Securely
If you’ve been following along, you should have some of your very own TCS. But after all of this, you might start thinking to yourself, “Where do I put it?” Well, for this, you’re going to need a wallet.
Thankfully though, you likely already have one! If you’ve been carefully following along with this guide, you already have a MetaMask account and even your own CryptoWallet account. (though CryptoWallet does not currently operate with TCS) With MetaMask linked to the exchange from which you bought TCS, you should be able to quickly move these funds from the exchange directly back into your MetaMask by following the on-screen instructions.
But if you are looking for an alternative to MetaMask in terms of storage, you have a few different options to choose from, such as the popular hardware wallet systems Ledger, Tokenary, Wallert 3, SecuX, and Amber.
While it does not currently host TCS, CryptoWallet offers several wallet services as well as a high level of security. While it does not currently host TCS, it does host a variety of other coins and financial services. So, as a system, it may well be worth keeping an eye on for the future.
Other Useful Tools for Trading TCS
It is important to note that exchanges will provide information that, if used wisely, could help you make better moves with your money.
The On-Balance-Volume (OBV) indicator is one of the most commonly found tools, though simple, showing you both the positive and negative volume movements of an asset, as well as the value direction of a trend.
The Average Directional Index (ADI) is another straightforward metric that tells traders how strong a supply or demand trend is. The entity’s movement intensity may aid in determining how frequently extended motions occur.
A Stochastic Oscillator is used by price trackers to look into an asset over time and in reaction to a certain event.
Can I buy TCS with cash?
TCS tokens, like the vast majority of altcoins, cannot be purchased directly using fiat money.
Instead, you’ll have to buy a cryptocurrency like BTC or Ethereum and then trade those for a coin that can be used on an exchange that holds TCS. It is for the altcoin. To figure out how to do it, look at the instructions above.
Are there any quick ways to buy TCS in Europe?
Purchasing TCS does have a few extra steps that may appear to be more complicated than other crypto transactions. But if you read through our provided guidelines, however, we can walk you through each step, and thankfully, this guide is appropriate for the EU.
Are there any alternative platforms to buy TCS or Bitcoin with credit cards?
TCS, unlike other cryptocurrencies, cannot be bought with fiat money.
Instead, you might buy a cryptocurrency like Bitcoin or Ethereum and then trade it for an alternative that can then be used to swap from TCS. Go to the guidelines above to learn how to accomplish this.
On the other hand, Bitcoin may be purchased with a credit card quickly by looking for a cryptocurrency exchange that accepts credit or debit cards. This service is offered by companies such as eToro and many others.