The Republican candidate for the US presidential election and the former US President Mr. Donald Trump has reinforced his commitment to crypto adoption by announcing a new crypto token called World Liberty Financial (WLFI).
This can be seen as a materialization of his support for crypto tokens. With the election nearing, the whole financial world is waiting on its toes to assess the impact of this new coin on the decentralization effort. The SEC’s take on the WLFI tokens is also a matter of concern for crypto enthusiasts.
We will discuss in detail all these aspects in this article.
What Is World Liberty Financial (WLFI)?
World Liberty Financial (WLFI) is a cryptocurrency platform that focuses on stablecoins pegged to the US dollar. On this platform, you can borrow, lend, and trade cryptocurrencies using its native token WLFI. World Liberty Financial is more of a family affair for Trump. Donald Trump is the “chief crypto advocate,” of the WLFI platform while his youngest son, Barron Trump, will serve as the “DeFi visionary.” Donald Trump Jr. and Eric Trump will serve as “web3 ambassadors” of the WFLI platform.
The launch of World Liberty Financial has caused many controversies amidst the upcoming US presidential elections. This can be seen as part of Trump’s strategy to attract digital currency users and advocates. Trump is already famous as a pro-digital assets campaigner. Even though such a business launch by a candidate in the prime hours of an election campaign is unusual, it is a well-calculated move to gain big during the upcoming elections.
The specific details about the World Liberty Financial platform are yet to be announced. However, the promoters of the platform believe that this protocol will transform the decentralized finance world.
The lack of transparency on the part of the platform regarding its use cases, structure, and objectives has caused some amount of discontent even among the supporters of Trump. Some doubt the real intentions behind the World Liberty Financial platform, whether it is a utility coin in the true sense or a mere election gimmick on Trump’s part. All such doubts will be resolved in due course when more details about the platform are revealed.
The tokenomics of the WLFI tokens are such that 63% of the total supply will be available for public purchase, while 17% will go towards user rewards, and the remaining 20% will be reserved for the founding team, including Trump and his family.
How To Buy World Liberty Financial (WLFI) Tokens?
The WLFI tokens are in the initial stage of its launch. The tokens are yet to be launched for sale on any cryptocurrency exchange. You can use this buying guide to purchase WLFI tokens when they are sold on various exchanges after the tokens generation event.
- Download a cryptocurrency wallet such as Trust wallet or MetaMask wallet. You can download a Chrome extension and connect it to the exchange from where you are purchasing the WLFI tokens. You can download its mobile app if you are trading using a mobile device.
- Register yourself in the wallet app or Chrome extension as per the instructions given. Keep the seed phrase safe for future use. Note down the wallet address.
- Check out the market trends at the time of purchase and find out which token can be used as the base currency for purchasing WFLI tokens.
- Fill the crypto wallet with the required amount of base currency to facilitate your WLFI purchase and payment of gas fees.
- Trade the base currency to buy WLFI tokens on the exchange.
- After the success of the purchase process, transfer the WFLI tokens from your wallet to a cryptocurrency cold wallet. This ensures the safekeeping of the WLFI tokens from cyber attacks or hacking attempts.
The Bottom Line: Should You Invest In World Liberty Financial (WLFI) Tokens?
This is too early a stage to pass final verdicts about investing in WLFI tokens. The tokens are yet to be launched. The profitability of the tokens cannot be predicted.
So you should stay tuned to the official sources and thoroughly follow the market trends before finalizing your investment decisions on WLFI tokens. Uninformed, haste actions can cause you dear in the field of cryptocurrencies.
