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How to buy Waltonchain and how it works

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

Updated

Fact checked

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.

Quick guide: How to buy WTC

  1. Register for an account with a cryptocurrency exchange like Swyftx.
  2. Verify your account.
  3. Go to the deposits section
  4. Select your preferred payment method and confirm.
  5. Go to the buy section and select the cryptocurrency you want to buy.
  6. Enter how much you want to buy, or how much you want to spend.
  7. Double check the details and confirm your purchase.
Go to Swyftx'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
    BPAY
    Cash
    POLi
    PayID
    AUD

    155
    cryptocurrencies

    CoinSpot is an Australian-based exchange that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
    Bank transfer
    BPAY
    POLi
    Osko
    PayID
    AUD

    105
    cryptocurrencies

    Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
    Crypto.com App
    Bank transfer (ACH)
    PayPal
    Bank transfer (SEPA)
    SWIFT
    Xfers
    Credit or Debit Card
    TransferWise

    AUD, EUR, SGD, HKD, GBP, JPY

    64
    cryptocurrencies

    Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
    Bank transfer
    POLi
    AUD

    44
    cryptocurrencies

    Accepting POLi and bank transfers in AUD, Easy Crypto is a simple way to buy and sell a range of cryptocurrencies.
    Cryptocurrency
    USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 23+ more

    182
    cryptocurrencies

    Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

    US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
    UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
    Cash
    Cryptocurrency
    Electronic Funds Transfer
    POLi
    PayID
    AUD

    108
    cryptocurrencies

    Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.
    Cryptocurrency
    USD, EUR, GBP, JPY

    156
    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.
    Credit card
    Cryptocurrency
    USD

    387
    cryptocurrencies

    CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
    Credit card
    Debit card
    USD, EUR, GBP

    133
    cryptocurrencies

    Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
    AdvCash
    Cryptocurrency
    Payeer
    Perfect Money
    Capitalist
    USD, RUB

    1427
    cryptocurrencies

    Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
    Credit card
    Cryptocurrency
    Debit card
    USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 20+ more

    206
    cryptocurrencies

    Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
    Huobi Cryptocurrency Exchange
    Cryptocurrency
    GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE

    234
    cryptocurrencies

    Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
    Bithumb Cryptocurrency Exchange
    Cryptocurrency
    Wire transfer
    KRW

    110
    cryptocurrencies

    A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
    OKEx Cryptocurrency Exchange
    Bank transfer
    Cryptocurrency
    WeChat
    USD, CNY

    146
    cryptocurrencies

    Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
    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.

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.

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