Worldcoin: What You Need to Know

What is Worldcoin Project?

Worldcoin, founded in 2021 by Sam Altman, CEO of OpenAI, will rely on biometric information that is difficult to fake and immutable to verify users through eye scans and generate a unique digital identity. Wordcoin prevents scenarios where one person has several accounts by allowing users to demonstrate their human identity while maintaining anonymity.

Because Worldcoin is a protocol focused on personal identification, the project has utilized a Proof of Personhood technique to validate a user’s identity via a “retina scan” using an Orb (labeled retina).

 

What is Worldcoin trying to solve?

According to an analysis by the McKinsey Global Institute, there are now more than 4.4 billion people who do not have a legitimate identity or are unable to verify their identity digitally. To solve this problem, Worldcoin came up with “Orb”.

Orb is a biometric device with a built-in scanner and external camera. If they are real people, they will be given an ID after a retina scan and let the AI analyze their data.

With a Proof of Personhood system that allows each user to prove that they are a “real person”, Worldcoin provides a decentralized identity and privacy protection solution while ensuring security.

 

What is Worldcoin token ($WLD)?

The $WLD token is utilized for governance, transaction fee, and assets. $WLD’s price is $2.36 at the time of writing.

 

How to buy Worldcoin token ($WLD)?

Want to buy crypto online but don’t know how? No worries! Tokenize Xchange is here to offer you many options, you can buy crypto with debit cards, with Grabpay, or using direct bank transfer. You may easily purchase Worldcoin token ($WLD) with the lowest fee and greatest security with Tokenize Xchange – Singapore Crypto Trading Platform.

 

Here’s the guide on how to buy Worldcoin Token:

Step 1: Select Trade on your dashboard

Step 2: Choose the market on the right of the dashboard

For example, click on the SGD Markets tab, and under the tab you will see WLD/SGD

Step 3: Choose the type of Buying

3.1. Limit Buy

A limit order will be filled at or better than a specified price. Any quantity that is not filled rests on the continuous order book until it is filled or canceled.

Your Balance: SGD balance left in your account.

Price per WLD: Key in the price to buy for 1 WLD in SGD.

Amount WLD: Key in the amount of WLD to buy.

Time In Force:

• Good Till Cancelled (GTC): Your order will stay on the order book until they have been filled or until you manually cancel them.

3.2 Market Buy

A market order is an order that will be executed immediately and in full by buying or selling from the bids and asks in the order book.

Your Balance: SGD balance left in your account.

Market: Your order will be filled immediately at the best market price at the time of your order.

Amount: Key in the amount of WLD to buy.

Sell: Once the Amount is filled correctly, you may click on Buy WLD to confirm your Total Bid.

 

>> Read more: Market, Limit, and Stop Order: What is the difference?

Step 4: Confirm your order

You will see a confirmation window. Check all details carefully. Please see the trading commission fee here. Click “Confirm” to proceed or “Cancel” to cancel the transaction.

For example: If you would like to buy 100 WLD, you can select Market order, enter your quantity as 0.1 and confirm your order. You will then buy 100 WLD from the market.

After confirming the order, you will see a green notification at the top of the page indicating that your order has been successfully placed.

 

Step 5: Finish the order

Your order will be matched automatically. You may view your order by selecting “Orders” and “Finished Orders”.

Under “Finished Orders”, you can view your completed orders.

 

How to cancel buy order

Click on “Pending Orders” to view all of your pending orders. 

Each order will show detailed information such as Date, Market, Side, Order Type, Price, Total Units, Amount, and Filled.

For orders that are still pending, you can click on “Cancel” to cancel your order.

 

Conclusion

Worldcoin takes the objective of universalizing cryptography to the world by placing Orbs in various countries and encouraging people to scan their “retina” for identification. However, because of the concerns surrounding the Proof of Personhood method and Orbs, we need additional time to verify the possibility of this goal.