WorldCoin (WLD) Complete Guide: Everything About Cryptocurrency That Even Beginners Can Easily Understand
Hello! Have you ever wondered about WorldCoin (WLD), which has been gaining much attention in the cryptocurrency market? Today, we will explain everything about WorldCoin from A to Z in detail. We will explain it in a friendly way so that even those who are new to cryptocurrency investment can easily follow along!
What is WorldCoin (WLD)?
WorldCoin is one of the most innovative digital assets that has been attracting the most attention in the cryptocurrency industry recently. This coin goes beyond a simple investment tool and has a grand vision of providing equal economic opportunities to everyone around the world.
The biggest feature of WorldCoin is that it utilizes biometric technology. It scans the user's iris to verify their uniqueness, and through this, it has built an innovative system that prevents duplicate registrations while protecting personal information. This approach is a completely differentiating feature from existing cryptocurrencies.
WorldCoin's background and historical significance
WorldCoin was developed by Tools for Humanity, a company founded in 2019 by Sam Altman, co-founder of OpenAI. The background of this project is a deep philosophy that seeks to solve the economic inequality problem that may arise with the advent of the AI era.
Since the beta version was launched in 2022, Worldcoin has been growing rapidly, providing services in more than 35 countries around the world. It is especially well-received in developing countries such as Kenya and Argentina, and this is an example of how Worldcoin's goal of 'global economic democratization' is realistically achievable.
Interesting fact: The Worldcoin project has attracted about $250 million in investment so far, and famous venture capitalists such as Andreessen Horowitz (a16z) and Coinbase Ventures are participating.
Worldcoin's unique operating principle
Worldcoin's operating principle takes a fundamentally different approach from existing cryptocurrencies. The most important element is a biometric device called 'Orb'.
Orb scans the user's iris to create a unique encrypted identifier. During this process, no actual biometric information is stored, and only the mathematical hash value is recorded on the blockchain, ensuring complete privacy protection. Once authenticated, you can receive World Coins regularly, which can be seen as a cryptocurrency implementation of the concept of 'Universal Basic Income (UBI).
Technically, it uses 'World Chain', a layer 2 solution built on top of the Ethereum blockchain, to achieve fast transaction speeds and low fees. It can process thousands of transactions per second, showing sufficient performance for use in real daily life.
World Coin's various applications
World Coin is a practical cryptocurrency that can be used in various ways in real life beyond a simple investment asset. The following are the most actively used areas.
First, in the field of international remittance, World Coin provides an innovative solution that overcomes the limitations of the existing banking system. In particular, in Africa and South America, remittances through World Coin are gaining popularity because they are 90% cheaper than existing methods and can be completed within a few minutes.
World Coin is also increasingly being utilized in online payment systems. Several e-commerce platforms and online service providers have already adopted Worldcoin payments, and users can enjoy a faster and safer payment experience than traditional credit cards or bank transfers.
Real-world use cases: In Kenya, Worldcoin is used to facilitate micro-lending services, and in Argentina, it is used as a means of hedging inflation.
Guide to major exchanges for Worldcoin trading
We will introduce you to exchanges where you can trade Worldcoin safely and conveniently. Each exchange has its own pros and cons, so it's important to choose the one that fits your trading style.
Binance is the world's largest cryptocurrency exchange and is one of the places with the largest trading volume for Worldcoins. It offers a variety of trading options and high liquidity, and it also fully supports Korean, making it convenient for domestic users.
Coinbase is a credible exchange listed on the NASDAQ in the United States, and is famous for its high security and user-friendly interface. It is a particularly recommended exchange for beginners, and it provides intuitive charts and analysis tools when trading Worldcoins.
Among domestic exchanges, Worldcoins can also be traded on Upbit and Bithumb. The advantage is that direct KRW transactions are possible, so you can save on exchange fees.
Things to keep in mind when choosing an exchange: When choosing an exchange, be sure to check the transaction fees, security level, customer support service, and whether the exchange has a license.
Worldcoin Community and Ecosystem
Worldcoin goes beyond simple cryptocurrency to form an active global community. Worldcoin users from all over the world voluntarily form groups, share their experiences, and develop the ecosystem.
The official Discord server has over 100,000 active users, and you can ask questions and get answers 24 hours a day. You can also check out information and news related to Worldcoin in real time on various platforms such as Telegram and Reddit.
In particular, the developer program operated by the Worldcoin Foundation is noteworthy. It provides financial support and technical mentoring to developers developing new applications on the Worldcoin ecosystem, so new innovations are constantly taking place.
Wallet Guide for Safely Storing Worldcoin
In order to safely store Worldcoin, it is very important to choose a reliable wallet. Let's take a closer look at the types of wallets and their features.
World App is the official Worldcoin wallet and provides the most basic yet essential functions. It is linked to iris authentication to provide the safest and most convenient user experience, and regular Worldcoin payments are also made through this app.
If you want higher security, consider a hardware wallet. Hardware wallets such as Ledger or Trezor are physically separated from the internet, making them completely safe from hacking. If you plan to store a large amount of Worldcoins for a long period of time, a hardware wallet is the best choice.
If you want to use it conveniently on mobile, multi-coin wallets such as MetaMask or Trust Wallet are also good choices. These wallets can manage not only Worldcoin but also other cryptocurrencies, making them useful for portfolio management.
Wallet Security Tips: Never store your wallet seed phrase (recovery phrase) online, but write it down on a physical piece of paper and keep it in a safe place. It is also important to regularly update your wallet software.
Key Things to Know When Investing in Worldcoin
If you are considering investing in Worldcoin, you must be aware of the following. Successful investment requires thorough preparation and a careful approach.
First, volatility management is the most important. All cryptocurrencies, including Worldcoin, show high price volatility, so it is safe to limit the investment amount to 5-10% of total assets. The basic principle is to invest only with money that you can afford to lose.
Second, you should continuously monitor changes in the regulatory environment. Worldcoin's biometric technology has raised concerns about privacy in some countries, so the movements of regulatory authorities can have a significant impact on the price.
Third, conduct technical analysis and fundamental analysis in parallel. Rather than simply looking at the price chart, you should comprehensively consider various indicators such as the development progress of the Worldcoin project, partnership news, and user growth rate.
Investment Warning: Cryptocurrency investment carries high risk. Investment decisions are your own responsibility, and do not invest without sufficient research and review. In particular, it is recommended to avoid leverage trading or short-term speculation.
Worldcoin's future outlook and conclusion
Worldcoin is an innovative project that goes beyond simple cryptocurrency and suggests a new economic paradigm. With the advent of the AI era, it is suggesting specific answers to the contemporary challenge of resolving economic inequality.
Of course, there are still many challenges to be solved. Concerns about privacy protection, cooperation with regulatory authorities, and technological scalability are important factors to watch for in the future. However, if these challenges are successfully overcome, I believe Worldcoin truly has the potential to change the world.
Please take an interest in Worldcoin and study it consistently. In the rapidly changing cryptocurrency market, correct information and careful judgment are the keys to success. We hope you will continue to watch the development of Worldcoin and explore the possibilities of a new economic era!
Did this article help you understand Worldcoin? If you have any questions or want to know more, please leave a comment at any time!