How to buy DENT
How DENT works and where to buy and sell it
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DENT Wireless as it’s officially known, aims to use cryptocurrency to democratise mobile data and bandwidth in a peer-to-peer economy. In simpler terms, it aims to help users buy and sell their mobile data.
Quick guide: How to buy DENT
- Register for an account with a cryptocurrency exchange like CoinSpot.
- Enable 2-factor authentication.
- Verify your account.
- Click “Deposit AUD”.
- Transfer funds into your account.
- Click “Buy/Sell” at the top of the screen.
- Search for the cryptocurrency you want and click “Buy”.
- Enter the amount you want to buy, or the amount of AUD you want to spend.
- Review the transaction details.
- Click “Buy”.
This is our quick guide to just one way to buy DENT. Compare some other options in the table below.
Where to buy and sell DENT coins
Find an exchange to buy, sell and trade DENT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
What wallet can I use for DENT?
The Coinomi multi-currency wallet supports DENT.
To add a custom token, follow these steps.
- First check whether it’s already available. It may have been added recently. If so, you don’t need to go through these steps.
- On the “Send Ether & Tokens” page of MyEtherWallet you’ll see a button labelled “Add Custom Tokens”. It’s in the Token Balances box. Click on that button.
- You’ll now need to input an Address, Symbol and Decimal. These will indicate the token that you want to add to your wallet. Go to https://ethplorer.io/ to find these. We’ve also put them below, but it’s a good idea to check for yourself.
- At Ethplorer, search for the name of the token in the search bar. Add the listed Address, Symbol and Decimal to the fields in MyEtherWallet.
How to buy DENT
Look for an exchange that supports both fiat and cryptocurrency to simplify buying DENT coins.
- Open an account on an exchange that supports DENT.
Most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy DENT.
- Buy DENT.
Complete your DENT purchase, then compare wallets to store your DENT.
How to sell DENT
If you're already holding DENT, the steps to sell it are essentially the same as those for buying but in reverse. The obvious difference is that you'll be choosing "Sell" on your chosen exchange, then exchanging DENT for an available cryptocurrency pairing. DENT is most commonly available as a pairing with BTC, ETH or NEO, but some exchanges may offer others.
How does DENT work?
DENT Wireless has three stated goals.
- The liberation of mobile data. It wants to let customers buy and sell their mobile data peer-to-peer as quickly and easily as possible, to eventually create a global marketplace for mobile data and bring prices down all around the world.
- The removal or minimisation of data roaming fees. DENT aims to remove the concept of data roaming by using a system called “Local Breakout” that automatically routes data in the most efficient way possible. Currently, data roaming fees are used to offset the costs of inefficiently routing data, for example from someone's home country to the country the person is in currently.
- To help drive the data sharing economy. Just as Airbnb is driving shared living space, Uber is driving shared transportation and other peer-to-peer systems are emerging, DENT wants to drive shared mobile data.
To try to accomplish its goals, DENT uses an ERC20 token on the Ethereum blockchain.
Two of its features are:
- A single currency. The use of its own currency makes it a lot easier to buy and sell data globally.
- Smart contract products. When users buy and sell mobile data it comes packaged as a smart contract product. This ensures transparency in the system and means buyers and sellers can’t cheat each other.
DENT operates through a mobile app with the aim of making buying, selling and sending data as easy as using any other app.
What to consider if buying DENT
DENT will have a total token supply of 100 billion, of which about 10.7 billion are currently in circulation.
If you’re planning on buying, it’s probably also worth getting the app itself to see how it works, and whether you might simply prefer to use DENT for its intended purpose rather than holding onto its tokens.
The DENT platform is largely operational and has a functional product that appears to be widely used.
It also previously adjusted prices to adapt to the growing value and popularity of the coin, so it's worth considering that DENT’s value might be increased without pricing the token out of usability.
However, it’s also facing extreme competition from other blockchain providers. For example, Sirin Labs’ dedicated blockchain smartphone which is currently under development and has the goal of having DENT-like features built-in.
The Sirin phone is being created with the specific aim of eventually migrating into the IOTA network, and IOTA, IoT Chain and other “Internet of Things” platforms might have the potential to eventually leave DENT obsolete.
But if you’re looking to test drive some blockchain technology in the real world, you may want to test the waters by buying some DENT, getting the app and seeing how it stacks up next to your current mobile data prices.
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