The CEO of OpenAI Inc., Sam Altman, finally launched his crypto Worldcoin (WLD) token on 24th July 2023, according to Semafor reports. Some renowned investors like a16z crypto, Bain Capital Crypto, and Distributed Global took part in the fundraising event for Worldcoin. The crypto community has been eagerly waiting for the coin’s launch as the company will issue crypto tokens in exchange after biometric verification.

Let’s understand the Worldcoin token and how you can buy it in India.

What is Worldcoin (WLD)?

Worldcoin is a novel crypto that aims to provide universal access to money for everyone. The project has garnered significant attention due to its ambitious goal of distributing tokens to everyone living in this world, free of charge.

Unlike traditional cryptos that rely on energy-intensive mining operations, Worldcoin adopts a unique distribution approach. To achieve its mission of broad inclusion, the distribution process involves identifying individuals through biometric means, such as retinal scans or fingerprints. By doing so, the Worldcoin team believes they can prevent fraud and ensure everyone receives their fair share.

The idea behind…

Worldcoin’s founders strongly believe that the initiative will combat wealth inequality by providing a financial stake to individuals in underprivileged regions. The idea is that by distributing tokens to people worldwide, they can have an economic asset and participate in the growing digital economy.

The project has received substantial backing from prominent investors and venture capitalists to fund the massive undertaking. The financial support has allowed Worldcoin to progress rapidly and gain momentum in a relatively short time.

Founders of Worldcoin

Worldcoin, a new crypto and AI project, was founded by Alex Bania and Sam Altman, the CEO of OpenAI, renowned for their artificial intelligence tool ChatGPT. Tools For Humanity (TFH) is the company that is developing and producing the Orb, a crucial physical hardware device utilized in the human verification and identification process at the core of Worldcoin’s mission. Alex Bania holds the position of co-founder and CEO at TFH, while Sam Altman is the co-founder and chairman.

3 Key Features of the Worldcoin Token

#1 Universal Access through Biometric Identification:

Worldcoin uses biometric identification (retinal scans, fingerprints) for fair token distribution to everyone globally, promoting inclusivity and tackling wealth disparity.

#2 Free Distribution to Global Citizens:

Every individual receives Worldcoin tokens for free, empowering underprivileged populations and enabling participation in the digital economy.

#3 Aims to Tackle Global Wealth Inequality:

By bridging the wealth gap, Worldcoin aims to create a fairer economic system and provide financial empowerment to people from all backgrounds.

Tokenomics of Worldcoin (WLD)

Total Supply – 10,000,000,000 WLD Tokens

Circulating Supply – 110,601,455 WLD Tokens

Market Capitalization – $242,215,756

24-Hour Trading Volume – $203,821,402

Price – $2.19 per WLD token

(Data is taken from Coinmarketcap)

Talking about the total WLD tokens, the distribution is divided as follows:

• Worldcoin community – 75%
• Tools for Humanity (TFH) Investors – 13.5%
• Initial Development Team – 9.8%
• Tools for Humanity (TFH) Reserve – 1.7%

Now, let’s quickly see how you can buy WLD tokens in India in 2023.

How to Choose a Good Crypto Exchange in India?

You need to do thorough research when using a crypto exchange to invest or for crypto trading in India. You must research the legitimacy of the platform and the credibility of the team behind it before deciding on an exchange to invest in Worldcoin (WLD) crypto in India.

You should also ensure the platform provides the following before investing in a WLD token:

• The exchange’s website/app has a simple user interface and is easy to use.
• The exchange supports Worldcoin (WLD) trading pairs.
• The exchange employs state-of-the-art security measures and does not compromise when it comes to regularly upgrading it. Try to avoid exchanges that do not have a KYC protocol in place.
• The exchange offers reasonable trading fees to buy crypto in India.

So, here’s how you can buy WLD in India in 5 easy steps.

Buying WLD in India in 5 Easy Steps

Below are a few simple steps you can follow and buy the WLD token in India with WazirX, India’s most trusted and widely used crypto exchange.

The best way to buy WLD tokens is using P2P trade. To get answers to all your queries related to the P2P trade, click here!

Bonus point: INR Deposits are also LIVE on the WazirX platform. Now, you can buy WLD tokens using INR.

Step 1 – Sign-Up on the WazirX platform

To begin buying and selling WLD Crypto, you are required to create an account on the WazirX platform by signing up. Also, you can directly Log-in if you have an account already on the platform.

For your reference, here’s how you can open an account on WazirX.

Step 2 – Set up your account security by verifying your email address.

This step is about verifying your email address. After you sign up on the WazirX platform, you’ll get a verification link on your registered email. By clicking on that link, you’ll get two options to ensure the security of your account – the authenticator app and mobile SMS.

Note: The authenticator app is a more secure way to stay safe when compared to mobile SMS because there’s a risk of delayed reception or SIM card hacking.

Step 3 – Complete the KYC process.

After choosing your country, you can proceed with completing the KYC process. Click here for a detailed overview.

Note: You must complete your KYC to be able to trade P2P or withdraw funds on the WazirX app.

Step 4 – Add funds to your WazirX account using P2P.

After integrating your bank account into your WazirX account, you can buy USDT through P2P to the WazirX wallet. The USDT will act as funds to help you buy your favorite Cryptos.

Step 5 – Finally, buy WLD on WazirX.

You can now easily purchase WLD tokens using P2P trade on the platform. Check the WLD to INR rate from here and WLD to USDT here.

After logging in to your WazirX account, you can choose USDT from the “Exchange” tab. You can also check all the price charts, order book data, and an order input form on the right side of the screen.

Click “Buy” after entering the amount and checking the total USDT amount to be paid.

Your order will be placed according to the price you have input. A seller willing to sell at a price will be notified, and then you can exchange the tokens using P2P.

It might take a few minutes for the order to be completed, but as soon as it is executed, you will receive the WLD Coins you purchased in your WazirX wallet.

Happy Trading!

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.