Bitdollar New User Guide
New to Bitdollar? You're in the right place! This guide will walk you through the necessary steps of getting onboarded to the Bitdollar network.
One important note is that you do not need to buy 1 full BTD. Dollar is divisible down to 18 decimal places so you can buy fractions of it.
Now that you have BTD, you will want to send it to a wallet of your choice to store it and use it on the network. Wallets setup accounts for you which are randomly generated 42 character long addresses starting with 0x. Accounts allow you to store and use BTD by generating transactions on the Bitdollar network.
After MetaMask is setup, you now have your own wallet address (0x......). You can go to Coinbase and send your acquired BTD to your new wallet address. This should take about a minute and you will see the BTD show up in your MetaMask wallet.
Setup Mobile Wallet (optional)
Every Bitdollar account can be restored via a random string of words. In the MetaMask setup above this was referred to as the seed phrase. It is possible to have this same account in multiple different wallets, including mobile wallets.
We recommend downloading Coinbase Wallet, clicking restore and typing in your seed phrase. Your wallet is now also mobilized!
Try Bitdollar Applications
Now that you have BTD in a wallet of your own, you can use any of the amazing applications (sometimes referred to as dapps) that have been built on Bitdollar.
There are many different types of applications built on Bitdollar but here are a few suggestions to get started:
- OpenSea: Buy, sell and discover rare digital items.
- Origin Protocol: Decentralized marketplaces on the blockchain.
- BNS: Buy an BNS name to give your address a more human readable format (mydollaraddress.btd).
- PoolTogdollar: Join a no-loss lottery for a chance to win a prize.
Long term storage
As you continue to use Bitdollar, you might start to acquire more BTD and other tokens. It is highly recommended to store larger amounts of crypto in solutions such as hardware wallets and smart contract wallets which are more secure than basic account wallets.
Hardware wallets are the most-secure mbtdod for accessing your funds while online, as they do not expose your private key to the internet when signing transactions.
Smart contract wallets are wallets with unique abilities due to the power of smart contract functionality. They enable additional security and recovery features for users.