How to buy Waltonchain and how it works

A beginner’s guide to buying and trading Walton Coin (WTC) in Australia.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Waltonchain is a joint Chinese/Korean project that aims to combine blockchain technology and radio-frequency identification (RFID) to track items and improve supply chain management.

The token used for circulation and payment within the Walton ecosystem is the Walton Coin (WTC), which can be used to issue subchains, provide dividend interest and act as a credit and mortgage system.

Keep reading to find out what Waltonchain is, how it works, and how you can buy WTC in Australia.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Promoted

Quick guide: How to buy WTC

  1. Register for an account with a cryptocurrency exchange like CoinSpot.
  2. Enable 2-factor authentication.
  3. Verify your account.
  4. Click “Deposit AUD”.
  5. Transfer funds into your account.
  6. Click “Buy/Sell” at the top of the screen.
  7. Search for the cryptocurrency you want and click “Buy”.
  8. Enter the amount you want to buy, or the amount of AUD you want to spend.
  9. Review the transaction details.
  10. Click “Buy”.
Go to CoinSpot's site

This is our quick guide to just one way to buy WTC. Compare some other options in the table below.

Where to buy Walton (WTC)

WTC is available on a number of popular cryptocurrency exchanges, including:

    Name Product Deposit methods Fiat Currencies Cryptocurrencies
    CoinSpot Cryptocurrency Exchange
    Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
    AUD

    304
    cryptocurrencies

    CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 290 cryptos.
    Swyftx Cryptocurrency Exchange
    Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
    AUD

    284
    cryptocurrencies

    Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
    Binance Cryptocurrency Exchange
    Credit card, Cryptocurrency, Debit card, Osko, PayID
    USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

    263
    cryptocurrencies

    Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
    Cointree Cryptocurrency Exchange
    Cash, Cryptocurrency, POLi, PayID, Online banking
    AUD

    166
    cryptocurrencies

    Finder Exclusive: New members get $10 bonus after first trade. T&Cs apply.
    Buy 160+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
    Digital Surge Cryptocurrency Exchange
    Bank transfer, Cryptocurrency, POLi, Osko, PayID
    AUD

    266
    cryptocurrencies

    Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
    An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
    Easy Crypto Cryptocurrency Exchange
    Bank transfer, Cryptocurrency, POLi
    AUD

    53
    cryptocurrencies

    Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet.
    KuCoin Cryptocurrency Exchange
    Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
    USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

    247
    cryptocurrencies

    Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
    Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
    OKEx Cryptocurrency Exchange
    Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
    USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

    272
    cryptocurrencies

    Promo: Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply.
    Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
    Crypto.com App
    Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
    USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

    145
    cryptocurrencies

    Get 0% fees on credit/debit card purchases for 30 days after signup.
    Buy 80+ cryptocurrencies, earn up to 8% on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
    Bitfinex Professional Trading Exchange
    Credit card, Cryptocurrency, Bank Wire
    USD, EUR, GBP, JPY

    164
    cryptocurrencies

    Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
    Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
    loading

    Compare up to 4 providers

A step-by-step guide to buying Walton

If you want to buy WTC in Australia, here’s an example of how you can do it:

Step 1. Create an account at CoinSpot

If you want to exchange your Australian dollars (AUD) for WTC, you’ll need to use a local cryptocurrency exchange like CoinSpot. To sign up for an account, simply provide your email address and create a password.

Step 2. Deposit funds into your account

From your CoinSpot Dashboard, click on the “Deposit AUD” button to make an online payment via POLi Payments or BPay. At this stage of the process, you’ll also need to provide further details to verify your account, including your email address, phone number, full name, address and proof of ID.

Step 3. Buy WTC

Once verified, click on the “Buy/Sell” link from the menu at the top of the page and then search for “WTC”. Review the current price of WTC and click on the “Buy WTC” link.

You have the option to either specify how much WTC you want to buy, or how much AUD you want to spend. Click “Buy” and you’ll be able to see the amount of WTC you’re about to purchase, at what price and the fee that applies to the transaction. Click “Confirm Buy” if you’re happy to proceed with the purchase.

NB: Please note that most cryptocurrency exchanges do not allow you to exchange fiat currency (ie your AUD) for WTC. Instead, you’ll have to purchase a major cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH) and then exchange those coins for WTC.

Which wallets can I use to hold Walton?

WTC is an ERC20 token on the Ethereum network, so it can be stored on any Ethereum-friendly wallet that supports these types of tokens. For example, you could hold WTC with:

How Walton works

Launched by Chinese and Korean developers in 2016, Waltonchain is named after Charlie Walton, the inventor of RFID technology. Waltonchain aims to combine RFID with blockchain technology to streamline supply chain management.

Must read: What is RFID technology?

Radio-frequency identification uses electromagnetic fields to attach digital identities to physical objects. This information is stored on small chips attached to those objects.

RFID is already in widespread use throughout everyday life, including in the e-Tag in your car and in the microchip used to identify your lost dog.

By attaching small RFID tags with unique IDs to objects, those objects can easily be identified with information logged on the blockchain. This should then allow companies to track their products on the blockchain, with the end goal being to cheaply improve supply chain management and stop the production and sale of counterfeit goods.

Real world applications for Walton

Walton’s developers hope their technology will be able to streamline the entire supply chain process, from manufacture right through to the retail experience. Potential applications for Waltonchain in the real world include:

  • Keeping track of business inventory as it enters and leaves warehouses
  • Monitoring the transportation of products
  • Eliminating counterfeit products
  • Keeping track of stock in store
  • Tracking purchase preferences of buyers

The technology could potentially offer benefits across a number of industries, including:

  • Fashion and clothing
  • Storage
  • Logistics and shipping
  • Liquor
  • Automotive
  • Retail
  • Waste management

What to consider when buying Walton

There are a myriad of factors you should consider when buying WTC, including:

  • Availability. There are a total of 100 million WTC tokens in existence – this number is a constant and no more coins will be issued.
  • Use. Tokens are used for circulation and payment in the Waltonchain ecosystem. WTC’s main uses include issuing sub-chains, paying dividend interest, providing a credit and mortgage system and distributed asset exchange.
  • Waltonchain’s growth potential. As the Walton ecosystem grows, the company hopes that an increasing number of businesses will join the ecosystem and need to expend WTC to create sub chains. This should then lead to an increase in the value of WTC.
  • Competition. You’ll need to consider other companies that could compete for market share with Walton. For example, VeChain also provides unique product identification through the blockchain to streamline supply chain processes.
  • Commercial partnerships. The commercial partnerships a company establishes can help it access new markets and expert knowledge. Waltonchain announced a partnership with Korean exchange platform Coinnest in January 2018, and also has agreements with China Mobile IoT Alliance, Coinlink, Haier and a wide range of other businesses.

FAQs

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

More guides on Finder

Get into cryptocurrency

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site