How to Buy Worldcoin (WLD) in 2024 – Beginner’s Guide

Worldcoin (WLD) is aiming to be the world’s largest identity and financial network and has become a popular crypto project in recent years. As a result, it has recorded high levels of growth and surged by nearly 800% since its inception. If you’d like to learn how to buy Worldcoin, you’ve come to the right place.

At the time of writing, WLD is down 40% from a record high, with many investors starting to buy the dip. In this beginner’s guide, we’ll walk you through buying Worldcoin step by step, ensuring a smooth and hassle-free experience.

What is Worldcoin?

Created by OpenAI founder Sam Altman in 2019, Worldcoin (WLD) is a digital currency that aims to create a more inclusive global economy by providing a universal basic income to every person on Earth. It operates on a unique distribution model that grants tokens to verified users through the World ID platform.

This means that, unlike traditional cryptocurrencies, Worldcoin tokens cannot be mined through traditional means. At the heart of Worldcoin is the World ID platform, which serves as the foundation for its distribution system. Through World ID, users can verify their identity and receive Worldcoin tokens as part of a global initiative to create a more equitable economic system.

The platform does this by leveraging advanced technologies, including biometric authentication and blockchain technology, to ensure both the integrity and security of user identities during transactions.

How to Buy Worldcoin in 5 Easy Steps

Before you dive into purchasing Worldcoin, it’s essential to understand the process. Here’s a simple guide on how to buy Worldcoin in just five easy steps:

1) Pick an Exchange with Worldcoin Listed

First, you’ll need to find a reputable cryptocurrency exchange that supports Worldcoin trading. Look for exchanges like Binance and MEXC, which offer liquidity and a user-friendly trading experience.

Let’s use Binance for this example. Simply visit its website and click “Sign Up”.

2) Verify Your Identity

Once you’ve chosen an exchange, the next step is to complete the account verification process. This typically involves providing personal information and verifying your identity to comply with regulatory requirements. You will need to upload proof of ID and proof of address.

3) Fund Your Account

Since there are limited fiat trading pairs for Worldcoin, you’ll likely need to use existing cryptocurrency to purchase WLD. Consider buying USDT with fiat currency and then using it to trade for Worldcoin on the selected exchange. You can do this on Binance.

4) Prepare Your Worldcoin Order

Before placing your order, double-check the current price of Worldcoin and ensure that you have sufficient funds in your account to complete the purchase. Set the desired price and quantity for your order accordingly.

5) Buy Worldcoin

Now that everything is set up, you can execute your Worldcoin order on the exchange. You can either buy or trade. Confirm the details of your transaction and wait for the order to be processed. Once completed, you’ll officially own Worldcoin tokens.

Where to Buy Worldcoin? The Best Platforms

Knowing where to buy Worldcoin can often be a difficult task. Choosing the right exchange is crucial, as such, we’ve listed a few options that you can consider. Here are three top exchanges known for their reliability and robust trading features:

Binance – Global Crypto Exchange with Competitive Fees

Binance

stands out as one of the leading cryptocurrency exchanges globally, offering a wide range of digital assets, including Worldcoin.

With its intuitive interface and robust security features, Binance provides a convenient platform for both beginners and more experienced traders.

Additionally, Binance boasts high liquidity, with its 24-hour trading volume above $65 billion, ensuring swift order execution and competitive pricing for Worldcoin transactions. Overall, Binance has over 402 listed cryptocurrencies and charges a fee of 0.10% per transaction.

Pros

• Global crypto brand
• Over 400 listed cryptos
• Competitive fees

Cons

• Unavailable to U.S. customers
•  3.75% fee for debit card deposits

Visit Binance

MEXC – High Liquidity Platform with Over 2,000 Cryptos

MEXC

, also known as MEXC Global, is another popular choice to buy Worldcoin with PayPal, fiat currencies,  and other cryptocurrencies. The platform offers a user-friendly interface and prioritizes security, employing advanced encryption techniques to safeguard users’ funds and personal information.

Since its founding in 2018, it has amassed a comprehensive selection of digital assets, making it suitable for traders of all levels. It currently has over 2,000 listed cryptocurrencies, with over 10 million registered users.

Pros

• Bonuses for new customers
• Long list of cryptocurrencies
• 0.10% transaction fees
• Staking

Cons

• High withdrawal fees

Visit MEXC

How We Selected The Top Exchanges to Buy Worldcoin

Although you may have already decided what exchange to use, it’s essential to understand how we handpicked our list above. We meticulously evaluated several factors to ensure that users have access to reliable platforms for trading Worldcoin. Here’s a breakdown of our selection criteria:

Highest Worldcoin Trading Volume

One of the key metrics we considered is the trading volume of Worldcoin on each exchange. Platforms with high trading volumes typically offer better liquidity, ensuring smoother transactions and more competitive pricing for users.

Binance, which is number one on our list, also offers the largest amount of WLD volume in the market. In the last 24 hours, over $113 million in volume was traded on Binance, which makes up for over 30% of the total.

Exchange Security

Security is paramount when it comes to cryptocurrency exchanges. We prioritized platforms with robust security measures, including two-factor authentication (2FA), cold storage for user funds, and regular security audits to mitigate the risk of hacking and fraud.

MEXC provides users with a comprehensive guide on how to prevent potential attacks against their accounts. Before its collapse, FTX had $477 million of crypto stolen from its exchange by hackers. You can also enable 2FA, meaning that you will need to verify all login attempts before getting access to your funds.

Best Trading Tools

In addition to security and liquidity, we assessed the trading tools and features offered by each exchange. Top-rated platforms provide advanced charting tools, real-time market data, and customizable trading interfaces to cater to the diverse needs of traders.

How to Claim a Free Worldcoin Grant

To claim free Worldcoin (WLD) tokens, the process is straightforward after obtaining a verified World ID. Here’s a step-by-step guide on how to do so:

1. Get a Verified World ID: Before you can claim your free Worldcoin tokens, you need to acquire a verified World ID. This verification process typically involves providing personal information and verifying your identity by visiting a physical Orb and scanning your eyeballs.
2. Access the Worldcoin Platform: Once you have a verified World ID, log in to the Worldcoin platform using your credentials.
3. Begin the claiming process: Within the Worldcoin platform, locate the section designated for claiming free tokens. This section is often labeled as “Claim Grant.” After confirming your eligibility and providing any necessary information, submit your claim for the free Worldcoin tokens.

 

4. Receive Your Tokens: Once your claim is processed and verified, you will receive your free Worldcoin tokens directly into your Worldcoin wallet. These tokens will be available for you to use or trade as desired.

For more detailed information on claiming free Worldcoin tokens, you can refer to the official support article here.

What Can You Use Worldcoin For?

Worldcoin offers various use cases within the crypto ecosystem and in real-world situations. Some of the main include e-commerce transactions and remittances.

Global Remittances

Worldcoin can be used for cross-border remittances, enabling individuals to send funds to family and friends across the globe quickly and affordably. According to HackerNoon, the company partnered with payment company Slash, which will enable peer-to-peer payment of WLD on its platform.

E-Commerce Transactions

Like many crypto projects, Worldcoin is aiming to gain adoption from online merchants who accept Worldcoin as a form of payment. This would allow users to purchase goods and services directly with the cryptocurrency.

Online Verification

By scanning people’s eyeballs, it is said that Worldcoin could be looking to use this WorldID as a means for people to verify their online identity. There have been concerns on how this data is stored, and if it is safe. If proven to be, this could become a key use case for Worldcoin.

However, many countries are investigating these data privacy concerns, with Portugal recently ordering Worldcoin to halt their data collection efforts. Spain and Kenya have also suspended data collection temporarily while they investigate Worldcoin. Meanwhile, the European Union is currently investigating Worldcoin under its data protection laws.

Conclusion

In conclusion, Worldcoin offers a versatile digital currency with many prospective use cases to increase its utility within the cryptocurrency ecosystem. Buying Worldcoin is a straightforward process when you follow the right steps and choose the right exchange.

By selecting a reputable platform and completing the necessary steps, you can invest in Worldcoin and become part of its mission to empower individuals worldwide. Should you want to find other alternative cryptos to buy, check out our guide to the best altcoins.

Buy Worldcoin on Binance

FAQs

How do I get Worldcoin?

To acquire Worldcoin, you can typically purchase it from cryptocurrency exchanges that support its trading or by getting a WorldID and claiming free tokens.

Where can I buy Worldcoin?

You can buy Worldcoin from various cryptocurrency exchanges, including Binance and MEXC. Ensure that the exchange you choose supports Worldcoin trading pairs and follows proper security measures.

Can I buy Worldcoin on Coinbase?

As of 2024, Worldcoin is not available on Coinbase. However, you can explore other cryptocurrency exchanges that offer Worldcoin trading pairs.

What is the cheapest way to buy Worldcoin?

The cheapest way to buy Worldcoin may vary depending on factors such as exchange fees, payment methods, and market conditions. Binance has the lowest transaction cost to buy WLD and the highest liquidity.

References

1. FTX hackers steal $477 million from the exchange (CNBC)
2. Worldcoin scans eyeballs, but how safe is it? (AP)
3. Portugal orders Sam Altman’s Worldcoin to halt data collection (Reuters)