How To Trade In Woo Network, The Complete Guide
Woo Network is one of the most unique networks that combines the virtues of centralised and decentralised financing. This network offers an easy interface to operate to all the traders and investors who are willing to invest in cryptocurrency.
In fact, Woo network has emerged to be the most liquid platform to execute trades on the blockchain. It comprehensively promotes its own Woo Exchange and its brand WooFi. It has also developed a curated liquidity pool for its investors such as Wool Trade.
This pool comprises the units referred to as Woo Tokens. These Woo tokens can be actively traded, pledged, exchanged and used as collateral by the investors.
How Does Woo Network Work?
Woo Network has been one of the first kinds of blockchain technology that has been using Payment for Order Flow. This network pays an extra commission to the brokers who place orders upon the network for the purposes of trade execution.
Woo network promotes transparency and offers an active change to earn rewards. Different market players participate in the pool of investments in order to reap the benefits of liquidity. The investors can safely pool their funds without even actually disclosing their trading pattern of investment.
All the trade on the Woo Network is settled through the decentralised exchange. This exchange is also referred to as WooFi Swap. It operates on an algorithmic model which works on the same lines as the centralised exchange functions.
Woo Network is a synthetic Proactive Market Maker and helps to avoid the intervention of intermediaries in the settlement of the transactions. This mechanism helps to stipulate a better price and demand for the tokens from the relevant markets. It even charges lower swap fees for a better spread.
Many institutional traders and investors aim to generate a higher API through the process of staking. This platform is very easy to operate and many traders try to diversify their scope of activities to include borrowing and lending within the scope of their domain as well.
Currently, there are 300 billion units in circulation and the supply is likely to increase in the future depending on the boost in the demand over the period of time. This is an easy way to proceed ahead with these tokens.
Steps For Buying On Woo Network?
Woo tokens are available on the decentralised exchange of the network itself and in addition, they are listed on other exchanges as well. Woo Network tokens can be availed at the lowest price without even paying any commission to the intermediary.
These tokens are secured by complex networks which are difficult to decode at times. This is one of the most fruitful technologies in the times to come. As an investor, if you are impressed by the pricing and the potential of these crypto tokens, then you can easily book your orders today. Let us understand the detailed process with the help of which Woo Tokens can be credited to your account.
Step 1: Create your account on the exchange
As a first step, it is imperative to create your account on the exchange on which you will place the order for the tokens. As already mentioned, Woo Network can be purchased on the WOOFi exchange and any other exchange such as Binance. For creating an account, first of all, you need to download any application of the exchange.
Then you need to click the ‘Register’ option on the first page of the application. You can register via email or mobile number as well. You can still prefer to create a new account and get started. Enter all your required credentials such as mobile number, email address and identity proof.
Step 2: Click on Buy Currency
As the next step, you are required to click on the top left-hand side panel of the exchange. Therein you will have to select ‘Buy Currency’. With the help of this, you can now easily get a list of all the tokens that are traded in your region or country. From this list, you can select the Woo Network Tokens. The window will prompt you to decide the number of tokens you are willing to purchase.
Once you have decided on the quantity, you will have to then proceed with the payment. If you are trading on the decentralised exchange of Woo Network, then you can directly make the payment for the tokens through a debit card, credit card, bank deposit or a third-party financial provider.
However, if you are executing the trade through any other exchange, then first of all you would be required to add funds to the operational wallet. These funds can be added through the registered bank account. Once the order is placed, the funds would be debited while the tokens would be credited.
Step 3: Confirm your order
Once you are ready with the payment mechanism, the exchange would prompt you to reconfirm the order within the time span of 1 minute. Until you reconfirm your order, the window would freeze for a minute and upon its completion, the order amount would be automatically recalculated and processed.
Step 4: Store your tokens
Once the order has been executed, the units get credited to your account. This money would be stored in the inherent wallet and can be used for a variety of purposes.
It can be traded or staked and can be used to make payments on the portals that support and accept crypto tokens. The units can stay in the domain for a longer period of time and there is no doubt about it.
Conclusion
Woo Network has emerged as a strong platform to execute different types of trades in one go. This is the best network which helps to get the benefit of the market fluctuations. It rather helps to avoid the intervention of any third party and reserves the profit between the exchange and the investor over a period of time.
