WAX is a cryptocurrency used for trading cards and digital collectibles.

The WAX blockchain is designed to make e-commerce transactions faster, easier, and safer for all participants.

The WAX Blockchain uses Delegated Proof of Stake (DPoS) as its consensus mechanism and is meant to be fully backward compatible with EOS. The custom features and incentive mechanisms developed by WAX are designed to optimize the blockchain’s usability in e-commerce, and encourage voting on guilds and proposals.

WAX has created a suite of blockchain-based tools upon which dApps, marketplaces, and native non-fungible tokens (NFTs) are built. These tools include services to support e-commerce operations such as the WAX Cloud Wallet, SSO and OAUTH, a native RNG service, and a developer portal. The resulting technology reportedly represents a blockchain architecture with 500 millisecond block times, is fee-less for customers, and leverages voting rewards to incentivize participation in the selection of block producers and proposals.

The easiest way for non-US citizens to obtain WAX using a credit card is through Moonpay.

Simplex is a leading payment processor and recently announced to partner up with WAX.

There are several exchange markets that support WAX.

For example;

• Huobi Global

• Bittrex

Alternatively, you can buy WAX from other users using CryptoLocally.

There are two recommended options, Wax Cloud Wallet has one of the best user experiences of all crypto wallets. Anchor Wallets are available on Linux as well as the usual platforms. Its also offers some additional features that the cloud wallet does not. However, for most users the WCW will be more than enough for casual buying selling and trading of NFTs and other tokens on the network.

NFT is an acronym for “non-fungible token” and you can think of it like a digital collectible, such as a trading card.

An NFT is similar to a cryptocurrency in the sense that it trades on a blockchain and has a monetary value attached to it. The difference between a cryptocurrency and an NFT though is that an NFT has certain characteristics that make it different from other NFTs, even if the two NFTs seem similar to one another.

For example, if you trade 1 bitcoin for another bitcoin, you are trading one identical thing for another. There is no loss of value on either side of the transaction — you both end up with 1 bitcoin. But if you trade 1 NFT for another NFT, they can be drastically different even if they appear to be the same. This is because an NFT includes a deeper layer of characteristics that make it different from others. These characteristics can include metadata, visuals, serial numbers, etc. and can all affect the value of the NFT based on what characteristics are valued by the people who buy and sell them.

NFTs therefore create exciting monetization opportunities for brands and collectors, as they are provably authentic, safe to trade, and can include all different types of artwork and branding opportunities.