Position yourself for the future of cryptocurrency.
You’re here because you’re finally curious enough to know more about cryptocurrency. And we’re honoured you chose XOV to begin your journey. Believe it or not, most people have heard of cryptocurrency, but they really don’t have any clue what it’s all about. XOV makes it easy to participate in the future of money. And you’ll be able to do it safely, inside a credible exchange with an easy-to-use layout (an “exchange” is an online marketplace where buyers and sellers of cryptocurrency do business together).
As the world continues to move towards digital money, you’ll be way ahead, waiting and ready for it. For now, here are some basic concepts:
- What is a cryptocurrency? It is digital money. You can’t use it to buy things, yet, like on Amazon or anywhere. Someday, though, crypto will be used as easily as swiping your debit card in the checkout lane.
- What is a token? A token, or digital coin, is a unit of measure, like a dime or quarter… except it’s digital. You can’t walk into a bank and ask for your crypto… you can’t hold it, except by holding your digital wallet in your hand as you look at it on your phone.
- So then, what is a digital wallet? Some of you may already have one. We all use digital banking, and the digital wallet is very similar. There are many digital wallets, each one put out by a different company, just as there are many banks with online banking. A digital wallet can hold whatever cryptocurrency you place in it. Your digital wallet will have a unique address (a long string of letters and numbers, usually) that you provide when you are either sending digital money from your wallet to someone, or receiving it. No one can access your wallet without your password—not even you! When you create a digital wallet, you need to write down the address and the password (the old fashioned way… with pen and paper) in case you ever forget them. Lastly, the digital wallet has nothing to do with your banking, bank accounts, etc. So you don’t need to worry about someone stealing your phone and accessing your real money through your digital wallet (assuming they also figured out your password).
Our collaborator, Infinito Wallet, is the digital wallet that XOV team members utilize.
Enter the world of cryptocurrency
XOV’s marketplace is called the DAMP, which stands for Decentralised Asset Management Platform.
- By Decentralised, we mean that the technology supporting our marketplace is spread across many networks, thus ensuring sustainability, and providing greater autonomy over your currency.
- By Asset, we mean your cryptocurrencies of all types (and someday future products and services, like a loan, for example).
- By Management, we mean the act of you managing your assets.
- And by Platform, we mean the website, or marketplace space that your log into to management your assets—it’s the technology that supports our marketplace.
If you’ve applied for a loan or mortgage online, or shopped online, or do your banking online, then you’re already very qualified to use the DAMP.
Check out the other Profiles, or click the link to the DAMP to get started.
Visit our Key Documents page to learn more about cryptocurrency and the thing called blockchain technology.