1) ¿What is NEWSTOKEN?
It is a token (or also called asset or cryptocurrency) created under the blockchain of WAVES (Waves is a token with own blockchain). There are quite a few cryptocurrencies created under the blockchain of other cryptocurrencies. For example, MobileGo is another cryptocurrency created with the Waves blockchain. And, for example, GOLEM, is a token created with the blockchain of Ethereum.
2) ¿What is the difference between bitcoin and NEWSTOKEN?
Bitcoin has its own blockchain. Instead, NEWSTOKEN is housed in the WAVES blockchain. NEWSTOKEN’s blockchain can be seen on WavesGo: here
3) ¿What can I do with NEWSTOKEN?
Option 1: I use it to buy advertising on this platform Newstoken.net
Option 2: I can sell it in the markets (or exchanges) that I quote. Currently listed on the Waves Decentralized Exchange (DEX) housed inside the purse or Waves application. It can be downloaded from here
4) ¿What can I do from the Waves application related to NEWSTOKEN?
- Just as we enter we have the main wallets highlighting the USD, EUR, Bitcoins and Waves.
- I can see the tokens I have from the second tab above starting from the left called portfolio. Inside I can see the tokens that I have.
- On the third tab starting at the left, I can access the Waves Decentralized Exchange. To find where NEWSTOKEN is quoted, we must put Newstoken on the left side (where Waves are usually put). It is here where I can buy, sell and put my offers for sale or purchase. To do this, I must have some Waves (main token of the platform), since being the exchange of Waves, the commission is charged in this cryptocurrency and raises a total of 0.003 Waves per transaction (cents of usd aprox.).
5) ¿Where I buy some of the cryptocurrency Waves to pay the exchange commissions?
I can buy directly from the wallet with credit card (has the disadvantage that the minimum is 30 euros) or I can get it in other exchange by changing it by bitcoin there where Waves is quoted (Bittrex, Yobit, Liqui, Livecoin…). In this second case with 1 usd in bitcoins changed by Waves would have enough although when sent from the market (for example Bittrex) to the Waves exchange, a commission has to be paid.
6) ¿The same address as my Waves wallet is the NEWSTOKEN address?
Effectively. Since NEWSTOKEN is housed in the same blockchain as Waves, our address is the same as the one of Waves that appears in the application above.
You can see the explanatory videos of the application: