New to the world of Worldcoin (WLD)? You’ve come to the right place to collect information and learn! If you want to dive right in, scroll down to the section about how to buy Worldcoin (WLD), where you can start right away!
Cryptocurrency is a type of digital money. Unlike traditional currencies such as Canadian dollars or Euros, cryptocurrencies like Worldcoin (WLD) operate on decentralized networks based on blockchain technology. “Decentralized” means that the network operates without a central authority or intermediary. There are several aspects of Worldcoin (WLD) and other cryptocurrencies that qualify them as decentralized. These aspects include the use of blockchain (distributed ledger) technology that no single person controls, peer-to-peer transactions that don’t involve an intermediary, consensus mechanisms to validate and record transactions, and open-source code that allows anyone to scrutinize records of transactions.
If you’re a complete novice, this explanation may still be opaque to you, but we encourage you to investigate the basics further. You’ll soon catch on, and your confidence will grow steadily.
With the continuous advancement of AI technology and the increasing presence of AI robots, proving your identity and distinguishing between humans and machines will be a significant issue. While AI offers lots of benefits, there are also some issues, like the increasing number of fake videos and scams.
Worldcoin is a digital ID platform that wants to make it easy for everyone to prove they are a real person and not an AI or computer program. Worldcoin has created a digital passport system using special tools like cryptography and blockchain, which are used in the world of digital money.
Worldcoin is a crypto and digital identity project that was founded by Sam Altman, Alex Blania, and Max Novendstern. Tools for Humanity (TFH) is the company behind Worldcoin. Altman, who is famous for creating ChatGPT, has been a key player in starting the current AI boom, which has made the issue that Worldcoin aims to fix even worse. They created Worldcoin to reduce income inequality, create a global currency, and develop an app that allows users to use their tokens and real-world currency for payments and trading.
In May 2023, TFH raised USD 115 million in funding from investors led by Blockchain Capital. The project was in the works for two years and was finally launched on July 24, 2023.
The team behind Worldcoin created these three components that work together to help the organization reach its goals:
World ID allows users to prove they are real people online without giving away their personal information. Orb is a device that scans a person’s iris, making this proof possible. Just like how everyone has unique fingerprints, everyone also has a different iris pattern. The Orb scans a person’s iris and uses its unique structure to create a special code called an IrisCode. This code is not linked to any personal information—it’s only used to make sure people don’t have more than one World ID.
Once the Orb scans your eye and saves a code unique to your iris, it gives you a World ID. It gets rid of the actual images of your eye. You don’t have to keep scanning your eyes every time you need to prove who you are. Each unique World ID is added to the blockchain. Users deploy a cryptographically secure app to identify themselves.
It’s important to note that World ID verification is free, private, and available to anyone over 18 years old in countries where WLD tokens are available.
The World App is like a “digital safe” for your World ID. Worldcoin says the app keeps your information private and lets you use different financial apps. You can also use the app like a digital wallet, but its main goal is to keep your login details safe so you can use them on other apps. Best of all, it can also hold Bitcoin, Ethereum, and USDC. Worldcoin plans to add more cryptocurrencies in the future.
WLD is the native Worldcoin crypto coin that is distributed to users who create a World ID and download the World App. Users who participated in the beta program received Worldcoin crypto tokens.
The Worldcoin white paper says that they will release a total of 10 billion WLD over 15 years. Right now, there are 143 million WLD tokens in circulation since the official launch. Forty-three million of these went to verified World App users, and 100 million were given to market makers to help with trading.
Worldcoin crypto (WLD) is an ERC-20 token on the Ethereum mainnet with bridges for Polygon PoS and Optimism. Worldcoin Protocol will limit the supply of WLD tokens to 10 billion for 15 years. After that, the governance committee can choose to increase the supply by up to 1.5% per year. They will also decide how these new tokens will be given out.
During its beta phase, Worldcoin crypto tokens were only available to over 2 million participants who got their eyes scanned. Additionally, Orb operators also receive token incentives.
On March 10, 2024, the Worldcoin price reached an all-time high of USD 11.74. On the other hand, the WLD price recorded an all-time low on September 13, 2023, at USD 0.9731. Currently, as of September 1, 2024, the price sits at USD 1.43.
Want to jump straight into learning how to buy some Worldcoin (WLD)? Here’s our quick-start guide!
Coinsquare is a leading cryptocurrency trading platform that was started by Canadians for Canadians in 2014. Coinsquare is trusted by hundreds of thousands of Canadians for their Worldcoin (WLD) trades and has processed over $8 billion in trading volume to date.
This crucial step helps protect your identity and your Worldcoin (WLD) transactions. It also ensures that Coinsquare meets its regulatory obligations. You will need to submit some personal information, including your name, address and phone number, as well as a scan of a government-issued identity document such as your driver’s license or passport. Rest assured that this data will be kept in the strictest confidence. You will also need to answer a few questions to determine your risk profile.
These funds are what you’ll use to buy your Worldcoin (WLD). You can transfer money directly to your account for free using Interac e-transfer, or you can wire transfer the funds from your bank account.
Choose the currency you want to use to buy your Worldcoin (WLD). For now, you’ll be using CAD because that’s what you have on deposit in your Coinsquare account, but later on, you might use USD or another cryptocurrency for your purchase. Once you’ve selected the currency, you can go ahead and purchase your Worldcoin (WLD)!
You won’t be able to spend your Worldcoin (WLD) at all Canadian retailers, but the list of stores that accept Worldcoin (WLD) and other cryptocurrencies is always growing. Keep an eye on the news about Worldcoin (WLD) and ask your favourite retailers about their policies.
All cryptocurrencies carry some level of risk, just like other volatile investments. It's essential to thoroughly research the token you plan on investing in and understand the risks before making any decisions. Remember, you should never invest more than you can afford to lose.
You can transact on Coinsquare in numerous currencies other than Worldcoin (WLD), including Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Chainlink (LINK), Polygon (MATIC), Shiba Inu (SHIB), USD Coin (USDC), XRP, and many more.
It is legal to buy and sell Worldcoin (WLD) in Canada, but Worldcoin (WLD) itself is not legal tender, meaning that it is not issued by the government or controlled by them. Cryptocurrency trading platforms are also legal in Canada, but be careful to choose one that is in good standing and has not been banned or isn’t allowed to operate in Canada. As a leader in the cryptocurrency trading space, Coinsquare is dedicated to complying with all federal and provincial regulations for cryptocurrency trading; we are held to the highest standards of any financial institution in Canada, so you can have confidence in the transactions you complete on our platform.
If you want to get more into the world of cryptocurrency, you can engage in additional activities.
You can purchase other cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), Bitcoin Cash (BCH), Cardano (ADA), Dogecoin (DOGE), Ethereum Classic (ETC), Polygon (MATIC), Shiba Inu (SHIB), USD Coin (USDC), XRP, and many more.
Get information and news updates in Coinsquare’s real-time news feed. On the website and in the mobile app, you can also check on the current market prices for Worldcoin (WLD) and other cryptocurrency products, look at the trading history of Worldcoin (WLD), and learn more about topics related to cryptocurrency.
Cryptocurrency has been criticized for its environmental impact, and not without reason. Traditional cryptocurrency mining, especially for coins like Bitcoin, has been associated with high energy consumption due to the power required for mining operations.
However, the cryptocurrency industry is sensitive to these concerns and is looking for ways to make cryptocurrency more sustainable. Here are some changes that some blockchains have undertaken to mitigate the impact of cryptocurrency on the planet:
Newer cryptocurrencies are being designed with sustainability in mind from the start instead of making changes after the fact. While these advancements show a commitment to sustainability and minimizing environmental impact, there is still a great deal of work to be done. Keep an eye on the news about the evolving cryptocurrency landscape.
Confirm your identity and answer a few onboarding questions.
Add funds to your account via e-transfer, wire transfer, or from another crypto account.
Choose Worldcoin (WLD) from the list and select the currency you want to use.
Complete your Worldcoin (WLD) purchase.
If you want to learn more about Worldcoin (WLD) and the cryptocurrency world, getting involved with the Worldcoin (WLD) community is a great idea. Here are some ideas about how you can follow trends, meet other investors, and contribute to the growth of the Worldcoin (WLD) space:
If you have technical or business skills, you can also engage with development teams, contribute your skills to the Worldcoin (WLD) project, or participate in governance by helping with decision-making and setting future directions.
Coinsquare offers a variety of services for all your Worldcoin (WLD) needs.
Coinsquare Wealth provides more customized services from certified Wealth Directors. Although our Wealth Director don’t provide investment advice, they help our clients navigate the cryptocurrency space so they can get more out of it and avoid obstacles. Coinsquare Wealth also offers other advantages, such as same-day settlement in CAD or USD and enhanced liquidity for large trades/
Coinsquare Pro gives experienced traders the resources they need to make complex decisions and apply advanced trading strategies. Intuitive trading tools, enhanced trading logs, and near-instant execution of trades allow them to control their investments with greater precision.
Coinsquare Trade is a no-fuss service that gives our customers access to over 53 digital currencies, in-app customer service support, fast withdrawal and deposit options, and a clean, user-friendly interface.
Coinsquare has been in business in Canada since 2014 and was developed by Canadians for Canadians. We are confident that we can provide you with the best Worldcoin (WLD) buying experience in the country. Join us today!
