![]() While I agree with most of what has been said it is of paramount concern that you realize these comments are from a (naturally) biased source. After a slight back and forth I was able to secure a quick list of questions with Dorian.ĪUTHORS NOTE: As expected, most of Dorian's answers are from a pro business and bullish standpoint. He got me in touch with Sylo Co-Founder and Business Director Dorian Johannink. While perusing the community I ran across one of their administrators. While researching Sylo I decided to review their Telegram community on the Telegram app. Remember when MySpace was king and no one thought they could be upended? And a small company named Facebook (META) came into existence? Never underestimate the underdog, and Sylo is clearly an underdog but they are attempting to change that by positioning themselves to be a huge player in the Metaverse. Sylo is a decentralized, distributed infrastructure that is attempting to attract both users and investors due to the multiple projects the company is working on. So lets talk Sylo.įirst, let's examine what Sylo is. With that being said, I am also viewing the investment as 100% speculative and I urge you to do likewise. At the end of the day, what I am ultimately looking for is an ultra cheap unfollowed alt coin with an insanely low market cap that has a real world product/use. Nowadays, most people prefer to use hardware cold wallets, if you want to store a large number of coins or tokens, you can choose to use a hardware cold wallet to store your assets.In the crypto world of Bitcoin and Ethereum investments, Sylo ( SYLO-USD) is an alt coin you likely never heard of. Your crypto addresses and keys can be kept in a USB drive device, and only the person who possesses the USB drive can access the assets. Hardware cold wallet: Hardware wallets are physical devices where you can store your cryptocurrency.The keys are printed in the form of QR codes which you can scan in the future for all your transactions. Paper wallet: It is simply formed by using a program to randomly generate a public and private key offline and you can print them on a piece of paper, which you then store and save in a secure place.So the safest way of storing your coins or tokens is always putting them into "Cold Wallets", it is the wallet that is totally offline. What's more, the exchanges shut down may cause the loss of your fund. Although keeping them in most of the top exchanges' wallets nowadays is safer than before, with the development of security techniques, however, because of the very nature of the wallets in exchanges, they will be always online( so-called "hot wallet"), it is possible of being a hack. If you want to keep and hold Sylo for the long term and do not plan to sell them, security may be the first thing you should consider. As for the tax issue, you may consult the local department for more information. Note: Some CEX may not available in your country or area, you'd better consult the exchange's customer service or check the announcement from exchanges. Step 5: Buy Sylo in spot market by USDT, ETH, or BNB.If the CEX that you're using both supports purchasing USDT, ETH, or BNB via fiat, and Sylo-USDT, Sylo-ETH, or Sylo-BNB, etc, trading pair, then you can trade in the same platform and don't need to transfer to another platform that supports Sylo. purchased by fiat to the CEX that supports Sylo trading in spot market. Step 4: Transferring your USDT, ETH or BNB, etc.You can use the service provided by the CEX which supports OTC trading or use the financial service platform(Paypal, or Robinhood, available for US residents) that supports funding via either your bank account or credit card. Step 3: Use fiat to buy USDT, ETH, or BNB.For asset security, you'd better Enable Two-step Verification. You are typically required to have a government-issued identification document. Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account.Binance) one-step sign up with your social account, you can sign up with your social account directly. ( Check Exchange Ranking), if CEX supports (eg. Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app.Since the operation procedures vary from different CEX, we can't provide you a step-by-step guide on how to buy in all the different centralized exchanges(CEX), but we can provide you with some general procedures.
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