How to Buy District0x (DNT) Right Now • Benzinga – Benzinga

Want to jump straight to the answer? You can buy DNT on Coinbase and Changelly.

Online marketplaces like Amazon and eBay are used by millions of people every day. These marketplaces are run by businesses, so they make their decisions based on what is most financially responsible for the firm. Also, users must trust centralized marketplaces to allow them to support products and services that they want to buy or sell.

District0x is a decentralized marketplace aiming to solve problems with traditional marketplaces in a unique way. On District0x, users can create marketplaces quickly and easily. These marketplaces are controlled by a decentralized autonomous organization, commonly referred to as a DAO. 

What is District0x?

District0x is a program built on Ethereum’s blockchain. The Ethereum network allows developers to create smart contracts to create their own programs, such as District0x. Smart contracts are just code uploaded to the blockchain. What makes smart contracts special is their ability to hold money in escrow without a 3rd party. 

District0x is a platform that makes it easy for anyone to create a decentralized autonomous organization. DAOs may sound confusing, but it’s essentially just an organization run by parameters in smart contracts.

You can submit a proposal to join a DAO, and your proposal will either be accepted or rejected by the current DAO members. DAO members have the ability to vote on proposals; proposals can be used for almost anything that has to do with the DAO, including:

  • Proposals to update the marketplace
  • Proposals to invest a DAO asset
  • Proposals that upgrade the DAO’s code
  • Proposals to accept new members

Decentralized autonomous organizations can be used in several different ways. District0x currently has 3 operating DAOs on its network, including decentralized marketplaces for freelance jobs, NFT design applications and an Ethereum domain name marketplace. 

What is DNT?

DNT is the native token to the District0x platform. It’s an ERC-20 token, meaning that it operates on Ethereum’s network. The token is primarily used for governance. Because the marketplaces are run by the members, there needs to be a way for the members to vote on proposals –– this is where DNT comes in. Members can vote on proposals proportional to their DNT holdings, similarly to a stock that has voting shares.

The current circulating supply of DNT is 600,000,000 tokens, and there is no hard cap on the number of tokens that can be minted. Each token is currently worth 25 cents, up from 4 cents at the beginning of the year.

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Brief History of District0x

District0x was founded in February 2017, just before the cryptocurrency bull market in late 2017. The company launched its initial coin offering (ICO) in July 2017 at a price of 1.5 cents per token. Since its ICO, the DNT token has risen more than 16 times its initial value. 

The protocol was founded by Joe Urgo and Matus Lestan. Before founding District0x, Joe Urgo worked as an ICO consultant and professional poker player. Lestan is the lead developer of District0x, as he has a background in web and mobile application development.

Step 1: Open an online account.

You’ll need to make an online account with a cryptocurrency brokerage to buy DNT tokens. Major crypto brokerages that support DNT are Coinbase, Binance and Uniswap. Binance and Coinbase are centralized exchanges, so you’ll need to provide the brokerage with personal information such as your Social Security number, address, date of birth, email and phone number.

Since DNT is an Ethereum-based token, you can swap any ERC-20 token or Ethereum for DNT  on a decentralized exchange like Uniswap. Decentralized exchanges work by replacing a central 3rd party with smart contracts, so you can directly swap Ethereum tokens from your crypto wallet.

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Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. 

You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.

Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.

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Step 2: Buy a wallet (optional). 

A crypto wallet is a necessary investment for cryptocurrency investors who want to keep their crypto assets safely secured. There are two main types of cryptocurrency wallets: hardware wallets and software wallets.

Software wallets are generally free and store your cryptocurrency on your computer or smartphone. If you want to store your crypto as safely as possible, you should invest in a hardware wallet. Hardware wallets generally cost $30 to $100 and they store your cryptocurrency offline on a physical device.