The WOM Protocol (WOM) is a cryptocurrency launched in 2018, operating on the Ethereum platform. It has a total supply of 1 billion tokens and is designed to facilitate decentralized advertising by rewarding content creators for authentic word-of-mouth recommendations. The protocol incentivizes high-quality user-generated content through a peer-review system, where authenticators rate content based on authenticity, creativity, and positivity. WOM aims to revolutionize marketing strategies by leveraging the power of word-of-mouth recommendations, providing a new revenue stream for content platforms and brands.
The crypto WOM (WOM) is used within the WOM Protocol ecosystem to incentivize and reward word-of-mouth recommendations. Here's how it works:
- Content Creators: Share word-of-mouth recommendations on social media and other platforms that have integrated the WOM Protocol.
- Authenticators: Validate the recommendations using the WOM rating system in the WOM Authenticator App.
- User Engagement: As users engage with the WOM content, creators and authenticators earn WOM Tokens.
- Platform Integration: Content platforms that integrate the WOM Protocol also earn WOM Tokens as users interact with content on their platforms.
- Brands and Advertisers: Use the WOM Campaign Manager and WOM Tokens to access, incentivize, and increase the reach of word-of-mouth recommendations.
In summary, WOM Tokens are used to reward and incentivize the creation, validation, and sharing of word-of-mouth recommendations across various platforms, fostering a community-driven ecosystem.
To store your WOM Protocol (WOM) tokens, you have several options:
Exchange Wallet: You can store your WOM tokens directly on the exchange where you purchased them. This method provides easy access to your funds and allows you to quickly trade or use them for other investment products and features.
Personal Cryptocurrency Wallet: You can transfer your WOM tokens to a personal cryptocurrency wallet, such as Metamask, which supports millions of assets and blockchains. This option allows you to manage your tokens independently and potentially trade them on decentralized exchanges.
Web3 Wallet: You can create a Web3 wallet specifically designed for WOM tokens. This wallet will display the WOM mainnet and all available tokens, allowing you to manage and store your WOM tokens securely.
It is essential to choose a secure and reliable wallet that fits your needs, ensuring the safety of your WOM tokens.
To buy WOM Protocol (WOM) tokens, you can follow these steps:
Buying via a Crypto Wallet- Choose a Wallet: Select a reliable and reputable crypto wallet that supports WOM Protocol (WOM).
- Download and Create a Wallet: Download the wallet application and create a new wallet address or import an existing one. Make sure to write down the seed phrase and keep it secure.
- Buy WOM Protocol (WOM): Purchase WOM Protocol (WOM) using a supported payment method. If your wallet doesn’t support direct fiat-to-WOM purchases, you can first buy a more popular cryptocurrency like USDT and then exchange it for WOM Protocol (WOM) through your crypto wallet or on a decentralized exchange.
- Choose a Centralized Exchange (CEX): Select a reliable and trustworthy crypto exchange that supports WOM Protocol (WOM) purchases. Consider the ease of use, fee structure, and supported payment methods.
- Create an Account: Enter the required information and set a secure password. Enable 2FA for added security.
- Verify Your Identity: Complete KYC verification, which may require government-issued identification documents.
- Add a Payment Method: Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment method.
- Buy WOM Protocol (WOM): Use fiat currency to buy WOM Protocol (WOM) if supported, or first purchase a popular cryptocurrency like USDT and then exchange it for WOM Protocol (WOM).
- Store/Hold WOM Token (WOM): You can store your WOM Token on your exchanges' wallets or on crypto wallets. For long-term storage, consider using a cold wallet.
- Trade WOM Token (WOM): Trade WOM Token (WOM) for other cryptocurrencies on crypto exchanges.
- Earn WOM Token (WOM): Earn rewards by staking coins.
- Transfer: Send WOM Token to anyone in the world virtually instantly.
- Purchasing Goods: Use WOM Token to purchase goods or services from online platforms or offline shops that accept crypto as payment.