Content creation has become an essential part of today’s online market. With it being expected to reach $38 billion by 2030, it is no longer just a matter of entertainment… It is serious business.
Being able to reward content creators is essential to sustain this industry… Just as much as it is having the option to reward the fanbase. The good news is that crypto is now doing its best to support this new economy.
Today we will be going over a project called Gifto, which is mainly focused on social media cryptocurrency transfers. We will cover everything about it, including its main features and focusing especially on how you can buy Gifto quickly and easily.
We think its vision could lead to the widespread adoption of cryptocurrencies through social media platforms like YouTube, Facebook, or even Twitter. This is a project that you certainly need on your radar if you are a crypto investor… or simply enthusiastic about the world of social media.
Let’s get started!
What is Gifto?
Gifto brands itself as a decentralized universal gifting protocol. It was launched in 2017 by Uplive. This is a company that made over $100,000,000 during that same year!
The Gifto protocol uses Ethereum Smart Contracts to provide most of its functionality. This includes transferring digital goods between users, setting and changing their prices, and creating and finding virtual gifts.
At this time, there are over 60,000 content creators using the platform. This success has resulted in a massive amount of transactions. The platform sees more than 25 million virtual gifts per month being transferred!
Still not convinced that this is not your average new project? Maybe the more than 20 thousand holders can convince you otherwise! This makes Gifto one of the most promising cryptocurrency projects in the social media landscape. But, who is behind the platform?
The Team Behind The Curtain
What is also so exciting about Gifto is getting to know its team and the advisors. The project is led by a great entrepreneur called Andy Tian, an entrepreneur with years of experience in the industry. He is also the co-founder and group CEO of Asia Innovation Group (AIG).
We can also find Gifto’s co-founder Charles Thach, who is an early blockchain adopter in a global financial institution. He serves as Gifto’s Chief Crypto Officer and is an advisor for Spiking.
Lastly, we have William Nguyen. He is an experienced software engineer, as well as a researcher and educator. He is Gifto’s Chief Crypto Architect, a role in which he applies all of his experience in the crypto space.
What Features Does Gifto Offer And How Does It Work?
As we already said, Gifto is all about allowing communities to send and receive gifts via social media. This is essentially done by taking Uplive’s gifting platform, decentralizing it, and making it useful for all social media platforms. Let’s take a look at some of the features.
Gifto gives you the ability to customize gifts. There is a whole gift-building ecosystem with cross-platform capabilities that you can use for this purpose. Once you are happy with the gift, it can be deployed across your favorite social media site to your favorite content creator…Or vice versa!
An essential aspect of this feature is that you can use whatever content creation platform or social media platform they prefer.
There are many pieces working together in any project, and Gifto is no different. When a fan purchases a gift with Gifto tokens, the revenue is shared between all parties involved. This is a great way to incentivize participation and create a bigger community.
The percentage share is as follows:
- 80% goes to the content creator
- 5% goes to the gift creator
- 2% goes to the gift curator
- 10% goes to the Gifto protocol
- 3% goes to the work pool to ensure
The percentage that goes to the protocol ensures the platform can be maintained and upgraded. This is an important aspect of any blockchain project.
Some new projects have been released by Gifto lately that effectively operate as its own chain. Gifto chain is a great perk as it greatly welcomes ecosystem participants such as gifters, crypto communities, and KOL’S.
Gifto benefits them with amazing rewards for their contributions. These rewards offer great transparency since gifting transactions are recorded on the Gifto chain for fair and transparent reward disbursement.
Gifts come as digital illustrations, and you can then easily exchange them for real money.
Also, there are on-chain virtual gifts. These are simple creations of virtual gifts as native blockchain tokens owned by your social media handle.
All of this is possible thanks to the use of the Gifto chain, which also improves efficiency and security!
Let’s talk about Gifto Wallet. This is a project that is not out yet but is coming soon. The feature promises to give a lot of benefits to Gifto users.
For example, this wallet will work with all devices, including web and app support. It will also support all major tokens, including BTC, ETH, and more. This means you will save money as transferring crypto from one wallet to another won’t be necessary.
Besides, this wallet will instantly create ecards and virtual gifts that are stored on the GIFTO chain. Regarding security, wallet usage and gifting will be tracked on the public GIFTO chain with transparent fees, rewards, and staking privileges.
Gifto token (GTO)
Now we will get into Gifto’s most important aspect, its token. This token is currently listed on Binance and other top exchanges like OKEX and ACE.
This ERC-20 token facilitates the creation and interchange of virtual gifts and gives them value. After all, the whole idea is that these gifts are also marketable.
Let’s take a look at the two main functions the token fulfills:
- Transactional Value: The Gifto token is used as the in-app currency for the up-live platform. As such, it is used to pay for fees and gifts.
- Staking: You can also stake GTO to reduce fees, unlock privileges for gift creations, and more benefits. This also includes earning GTO rewards for running your own node!
At the moment, there is a total supply of 1,000,000,000 tokens, with only half of them currently in circulation. The price of this cryptocurrency at the time of writing is around $0.0488, which represents a gain of over 650% in the last year.
Should You Buy Gifto (GTO)?
Unfortunately, we can’t tell you if you should definitely invest in this token, as that depends on your expectations for the market.
However, you should take this crypto into account if you believe that social media gifting is a use case with potential. Personally, we believe it can have a great impact at a time when platforms like Patron, OnlyFans, Youtube, and Twitch are so popular.
The market cap is really low right now, and it seems that it can go up soon with some good news like its wallet release. This is great as you won’t need to invest a lot of money. Finding low-cap gems increases the chances of earning while still allowing you to spend less than on other currencies… At least if you want to notice a difference.
As we previously mentioned, the coin has also seen its value increase by a lot over the past year. This momentum could work in its favor in the near future once the bear market ends.
Another reason why this crypto has good potential is because of its staking rewards. The incentive to people and users is to stake GTO to hold these coins so they can produce better gifts and more privileges.
These elements make GTO a coin that is worth considering as the potential is there. However, we recommend you do your research if you are still unsure! We have a guide on how you can evaluate the potential of a coin!
How Can You Buy Gifto?
Today though, we will be covering how to buy Gifto coins on Binance. This is due to this platform being among the best exchanges all over the market. Alright, let’s take a look at the steps you must follow to buy GTO!
Step 1: Get A Crypto Wallet
If you want to have all the security possible when storing your Gifto coins, you should acquire a crypto wallet. These have a private key associated with them that works similarly as a password. It is a string of numbers and letters that are assigned to your wallet and allow you to access it.
If you want your GTO to stay safe, you need your private key safe. Now, there are a few different types of wallets to store your crypto. The easiest way is to store it right in the exchange where you bought it.
However, this is not the most secure way since you are trusting a third-party app to keep your money safe. We all know cyberattacks can happen anytime, especially the ones that are performed to corrupt these large companies.
We have reviewed several crypto wallets. You can find the one that fits your needs in our wallets section. Make sure the wallet you choose supports GTO!
Step 2: Create A Crypto Exchange Account (Binance)
We will be doing the registration and creation process with Binance, but every exchange has a similar way to do this. If you have ever created any type of account for an online platform, this will be a breeze.
You first need to go over to the Binance website/app and press the register button. Once you click on this button, you will get to a signup page. There you can sign up with your email address or either your phone number.
Make sure you create a password that is very effective and hard to guess. Also, please read the terms and conditions that Binance offers and check the box.
After this, you will have to confirm your email address for signing up for this exchange. Binance will send you a verification code, and then you will be able to move to the next step.
Step 3: Verify Your Identity
You must do this step if you want to use fiat money to buy cryptocurrencies. You will need to go to your profile and then choose “verify.” If you need higher limits for depositing money, like for example, $50,000, you will need to go to advanced verification.
After you click verify, you will go through each of the steps that you see there. You will need to complete your personal information and also take photos of your id for verification. Once completed, you will gain access to all of Binance’s features.
Step 4: Buy Gifto (GTO) Using Debit/Credit Card
Now we are getting to the interesting part! The first thing you will have to do is go to the top menu on Binance and click “Buy crypto” then “Credit/debit card.”
From there, you are going to buy as much USDT as you want to convert to GTO. Remember that 1 USDT = $1 USD.
Paying with your credit card will give you a 3.5% fee or $10, whichever is higher. Debit card fees are the same as credit card fees.
Next, go back to the top menu and click “Trade” then “Classic.” On the right-hand side type in GTO/USDT and click on the pair.
At the bottom of the page you will now see the trading box. Click on “Market” and then type in the amount of USDT you want to convert to GTO.
Lastly, click “Buy GTO.” Congratulations, you are now the owner of some GTO tokens!
Step 5: Transfer Your GTO To Your Wallet
Now that you have successfully bought your Gifto coins, you will have to transfer these to your preferred wallet to keep them under the maximum security possible.
In your wallet, you just simply need to go to “Deposit.” There you need to find GTO so you can transfer them from Binance to your wallet. After this, your wallet will bring up the public address and you will need to copy this.
In Binance, you will need to head over to the wallet overview. In this section, next to your holding of GTO, you should find the option to ‘Withdraw.’
There you must input the receiving address, in this case, your wallet, and select the network you want to use to transfer.
When you perform the withdrawal, you’ll receive two confirmation codes, one over email and one over SMS. These are used to verify your identity and confirm the withdrawal.
Now you have been able to buy Gifto coins and store them safely in your wallet. Mission accomplished!
If you have followed this guide, you should now be the proud owner of GTO tokens. Whether you choose to hold the tokens or use them to tip your favorite creator is up to you!
Keep in mind that investing in crypto can be profitable but it is also risky. As such, we recommend that you are sure you understand the project you are looking to invest in. Not only this, but you should also research your tools. After all, an investor is only as good as the tool they use.
If you want to make the best out of your crypto journey, make sure to check our reviews and guides. We are sure you will find them extremely useful!
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