How to buy WINGS
WINGS is attempting to dominate the crowdfunding market with the creation of a decentralised prediction model. Find out how you can obtain its coin.
WINGS hopes to become the go-to platform for innovators and bank rollers alike. Although its coin is listed on a variety of third party exchanges, it is not possible to obtain it using fiat currency. Instead, you will need to trade it with an alternative cryptocurrency such as bitcoin or Ethereum. Follow our simple step-by-step guide below to find out how you can acquire WINGS.
Where to buy WINGS
Which cryptocurrency pairings are available to trade WINGS?
- Bancor (BNT)
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
A step-by-step guide to buying WINGS
It is not possible to purchase WINGS using mainstream fiat currencies such as AUD, USD or GBP, which means that you will need to trade it with an alternative cryptocurrency on a third party exchange. We have decided to use Binance in our guide as it has the majority of trading volume on this particular coin, and it also supports the two major cryptocurrencies – bitcoin (BTC) and Ethereum (ETH).
Step 1. Create an account at Binance
First, you will need to visit the Binance website and register a new account. As part of the account opening process, you will need to provide an email address – which also needs to be confirmed. Furthermore, you will be asked if you would like to set up two factor authentication. This is worth doing as it creates an extra level of security on your account.
Step 2. Deposit funds into your account
In order to buy WINGS, you will now need to fund your newly created Binance account. As previously mentioned, there is no facility for you to use your debit or credit card, so you will need to deposit with either bitcoin or Ethereum. If at this stage you do not own either of these, or you are unsure how you can obtain them, click on one of the links below to follow our simple guides. Feel free to return to this step once you are ready.
You will now need to click on the "FUNDS" button at the top of the page, followed by "DEPOSITS AND WITHDRAWALS". Search for the cryptocurrency that you want to fund the account with and then click "DEPOSIT". You will now see a long set of alphanumeric characters – this is the unique Binance wallet address that you will need to transfer the coins to. Copy the address and head over to your BTC/ETH wallet to initiate the transfer. The funds should arrive in your Binance account within a few minutes.
Step 3. Buying WINGS
Now that you have funded your Binance account with either BTC or ETH, you are now ready to buy some WINGS. Click on the "EXCHANGE" button and then select "BASIC". This has now taken you to the market screen, whereby your next step will be to select either BTC or ETH on the very right hand side of the page. In the search box, type in "WINGS" and click on the result (this will either be WINGS/BTC or WINGS/ETH).
You should now see the WINGS trading box, which will allow you to enter the amount of coins you wish to purchase. You can type this in or select a percentage of your funded cryptocurrency balance. Ensure that the "MARKETS" option is selected as this will execute your trade at the current market price. When you have double checked that the inserted data is correct, you can now click on the "BUY" button. This should only take a few seconds to fill, but for peace of mind head over to the "DEPOSITS AND WITHDRAWALS" section of your account and search for "WINGS" to check your balance.
How to sell WINGS
If you would like to sell your WINGS coins, you may do this by exchanging them with any of the cryptocurrency pairings listed above. The process is identical to the above steps, but this time you are selling instead of buying. For example, if using Binance, you can exchange your WINGS back to either BTC or ETH.
Which wallets can I use to hold WINGS?
Fortunately WINGS is compatible with ERC20, meaning that it can be stored in any wallet that supports this format. If you are unsure which wallet to use, see our comprehensive guide here.
How WINGS works
When WINGS was launched in May 2016, the team behind it wanted to create a unique crowdfunding platform that would allow business startups, investors and analysts to operate in a self-regulated ecosystem. Cryptocurrency innovators that need to engage in a fundraising campaign can do so by creating proposals through the WINGS Decentralised Autonomous Organisation (DAO) model. In return, this will allow WING coin holders to review, discuss and evaluate the proposed project on a transparent platform. By allowing the WINGS community to do this, a decentralised prediction model is then generated, with the aim of ascertaining the financial potential of the proposed project. Forecasts will be made with respect to the project's earning potential, likely fundraising amount and whether it will meet its predetermined roadmap targets. It is hoped that these forecasts will produce a long-term stream of reliable community analysts – a great tool for any startup that wants to ascertain public hunger for its proposed ideas.
Real world applications for WINGS
WING holders that actively participate in crowdfunding forecasts are rewarded with extra coins. The amount of rewards received are based upon the accuracy of the individual's prediction, which acts as an incentive for users to employ diligence in their decision making abilities. As the WINGS coins run on the Ethereum blockchain, they also fuel and compensate miners for using their excess computing power to validate transactions. This is crucial to allow the project to operate in a decentralised, peer-to-peer ecosystem, allowing all transactions to be viewed transparently on the blockchain ledger. The developers hope that if its DAO model is able to consistently forecast the success or failures of a proposed project, the value of its coin will subsequently increase in value. However, there is no guarantee that this will be the case, and therefore it is highly advisable that you conduct thorough independent research prior to purchasing any coins.
Like most cryptocurrencies, holders can also send and receive WINGS in the same way that users trade bitcoin – wallet to wallet.
Frequently asked questions
Ask an Expert