What is District0x Coin and How to buy District0x Coin (DNT)
This article will cover what district0x Coin is and how to buy district0x Coin
“A network of decentralized markets and communities. Create, operate, and govern.” District0x is the blockchain-based platform that allows for the creation and operation of marketplaces known as Districts without intermediaries. The most basic form of a district would be a marketplace similar to Craigslist or Ebay where buyers and sellers can meet up with one another. Other forms of districts could be professional networks or even governments. In essence, whatever restrictions you place on the district will dictate what sort of activity goes on in the said district.
Why should I buy DNT?
DNT is currently trading at an all-time low of $0.027 and the project has a lot going for it. It not only solves major issues in the industry but also allows for people to make a profit using their existing skills. District0x will allow regular people to easily create districts on its network, which can be as simple or complex as one sees fit. In fact, there are already several working dapps built on district0x that will soon become available to everyone!
The DNT token is used to facilitate the creation and usage of districts by paying transaction fees associated with creating new districts, hosting live updates, posting content within a district, etc.. Furthermore, the DNT token will be used to reward users for posting quality content and promoting their own personal district.
The team behind District0x
The District0x team has been busy building out its team since its inception in 2017. It includes many individuals with experience from all sorts of fields including marketing, software development, economics/finance, product management as well as several contributors from around the world. The team is led by its co-founders, Joe Urgo and Matus Lestan with regards to their developer roles.
How to buy District0x Coin on Coinbase.com a step-by-step guide.
Signing up on Coinbase.com
First, you need to register for an account with Coinbase.com and verify your email address. This is done by just clicking the link in the email sent to the provided email address and logging into your account.
You will then have a chance to create a new password and set up two-factor authentication for added security (highly recommended). Make sure to write down your 2FA login code because if you lose access to that they won’t be able to give it back or send you another one!
Just click on “Account Settings” at the top of the main page and scroll down until you see ‘Enable Two Factor Authentication. If you don’t want/need this feature feel free to skip it after reading about how great it would be to enable it.
Another security feature worth noting is that Coinbase will automatically lock any currency purchased for a specific period of time which is set by you with the slider at the bottom of each page on their website. This means that even if your email gets hacked or someone somehow manages to steal your password, they won’t be able to access your account and make a clean getaway with your crypto.
Once this setting has been chosen you should see a grey bar appear along the top of the screen which notes how much time has left until you are eligible to withdraw again. This is also done for added security purposes as it keeps people from trying to guess passwords over and over again in hopes of hitting gold because if someone guesses incorrectly after 10 attempts they are frozen out for an hour. Note: The amount of time is set by the user, but if you go to withdraw your cryptocurrency before that period has passed a warning will pop up letting you know that you are attempting to withdraw before the lock expires and gives you the option to ‘Reset’ or ‘Cancel’.
If Reset is chosen it does not change the expiration date, it simply restarts the timer which may come in useful if someone accidentally sets their withdrawal window on Coinbase using a different method than they normally do. Once this setting has been chosen you should see a grey bar appear along the top of the screen which notes how much time has left until you are eligible to withdraw again. This is also done for added security purposes as it keeps people from trying to guess passwords over and over again in hopes of hitting gold.
How to buy District0x Coin on Binance.com a step-by-step guide.
Signing up on Binance.com and verify your account.
Registering for an account with Binance is very straightforward and only requires that the user provide their email address, username, password, and a verification photo of themselves holding their ID card or Passport to proceed through the identity verification process. After this step is done they will be prompted to enter a 2FA code which you must scan using the Google Authenticator App on your phone. This adds another layer of security by requiring both something you know (your password) as well as something you have (your smartphone). Once properly configured you should see a small lock appear in the upper right-hand corner of your screen:
If it does not show up immediately, sign out and back into your account.
Adding funds to buy District0x Coin on Binance.com.
In order to add funds to your newly created Binance account you can either use your credit card or directly transfer currency from a Coinbase account. First select the appropriate option by clicking on the link in the upper right-hand corner of their page and then selecting ‘Funds’ under Deposits & Withdrawals on the following screen:
The next step is where new users may feel a little bit overwhelmed as they are now faced with a multitude of options. Once all of these have been taken care of, moving forward will be much easier for both newcomers and experienced crypto traders alike as transfers between wallets are often done via generated addresses that exist only on blockchain ledgers. This gives many added benefits such as increased privacy when trading and the ability to recover lost passwords/phrases.
Getting started on Binance.com – The Charting interface is a little different than other exchanges which may be a bit confusing when first using it but don’t worry, it’s not difficult once you get the hang of it! In order to place buy or sell orders on Binance you must first choose from either the Basic or Advanced charts by switching tabs in the upper left-hand corner: The main difference between these two modes of operation is that while basic shows the number of coins being bought and sold as well as their prices, advanced removes this information and instead presents users with a more technical display that can be used to identify more precise trends.
The primary tools for placing orders are laid out across the top of the screen as follows:
Once you have selected either ‘Basic’ or ‘Advanced’ (seen above) the next step is to choose which currency pair you would like to trade. There are dozens upon dozens available on Binance so it can be a bit time-consuming scrolling through them all but generally speaking, there are only 2 pairs that people interested in purchasing District0x Coin will want to consider: 1. DNT/BNB – This pairing allows users to directly exchange their District0x for another cryptocurrency called Binance Coin, an ERC20 token that was created by Binance themselves and can be used as payment for trading fees on their platform. While not required, many exchanges also allow users to set up trading pairs between their chosen currency and BNB. This can be helpful as the fees associated with using this coin for trading are generally less than credit card or BTC/ETH (as of writing this). 2. DNT/BTC – As the name suggests, in order to directly exchange District0x Coin for Bitcoin (or any other cryptocurrency paired on Binance) use this pairing! This is useful when transacting with other cryptocurrencies as buying ETH or Credit Card-based ERC20 tokens like Binance Coin via Coinbase requires a much higher transaction fee due to network congestion and limited availability on GDAX, Gemini, etc.
Once you have selected the pair that interests you click ‘Market’ in order to be brought to the trading page:
At this point, you should see a screen similar to the one below where you will be provided with real-time market data for both of your selected currencies. As far as District0x is concerned, hovering over the DNT/BNB chart will show that at current prices it would cost approximately $1,200 worth of BNB in order to purchase 1 full DNT token.
Using the buttons at the bottom right (the same place you chose your pair from) allows users to easily modify their chosen currency pairs and set their transaction preferences such as execution speed and price. For example, if I wished to sell all 20 of my acquired District0x tokens for ETH then I would click on ‘Sell DNT’ and then ‘Price’ in order to be brought to a chart displaying the current exchange rate of ETH/DNT:
Once here I could set my desired price using the buttons shown at the top left (in red) after which I would click ‘Buy’ on the lower right. Immediately below that, you will see a button marked ‘Post Only’. This is an important one as it prevents users from accidentally sending their funds before they are ready, allowing them to make any final edits or comments prior to initiating the transaction. When everything is ready to go, click ‘Sell DNT’. A pop-up with some general information regarding your trade will now appear such as deposit addresses for both currencies and the amount of time the trade will remain open. At this point, there is not much to do but sit back, relax, and hope for the best as your order goes through!
What’s Next For District0x?
It is obvious that more districts will become available on this platform in the future as well as increasing adoption allowing for faster growth and development. The team behind DNT is also working on creating its own dapp combining Reddit and Git-Hub into one dapp called ‘District Reddit’. This will be the first district on the District0x platform.
What is District Reddit?
District Reddit is described by its developers as a “district for the internet of our day.” It allows anyone to post links, news articles, blog posts, or any other type of online content in a centralized location with an easy way to view and sort out said content all while earning rewards for participating. The community aspect of this dapp allows users to comment on other’s posts, upvote or downvote them, flag inappropriate content, or even everyone’s favorite feature … send it anonymously! Basically what DNT expects to accomplish with District Reddit is similar to what Steemit has done for blogging. The community aspect of Steemit is one of the main reasons for its success in becoming a major competitor to Reddit and other social media websites.