DENT is a cryptocurrency with one very clear goal: to reduce the cost of roaming mobile phone calls and data consumption. Tero Katajainen, the company’s CEO and founder, created it, and it was introduced in 2017 as a means of payment for DENT Wireless.
What is the Dent (DENT)?
DENT stands for a tokenized mobile-data market that has been freed from the tightly controlled, monopolized telecoms sector. DENT is a game-changing technology that, at its heart, uses the Ethereum blockchain to enable a data-sharing economy “where users are able to freely purchase, sell, and donate their mobile data, from any user to any user.”
The UK’s decision by the majority of mobile providers to impose European roaming fees due to the country’s overwhelming vote to leave the European Union (EU) on January 31, 2020, or “Brexit,” has brought data roaming into the sharp spotlight. However, despite leaving Continental Europe to take advantage of its permissive cross-border internet usage, travelers on a larger scale are still burdened by exorbitant roaming fees and slow network speeds because data must be routed through their home country. DENT can help in this situation. In an effort to permanently fix this issue, the project was started. The DENT token, a cryptocurrency based on the ERC-20 standard that conducted an initial coin offering (ICO) in 2017, serves as the foundation for this technology.
DENT does not intend to take the place of the current service providers. Instead, the decentralized DENT network will serve as a companion, allowing travelers to smoothly swap between it and their usual telecoms provider as needed.
The Ethereum-based token that drives the DENT infrastructure is the DENT coin. In July 2017, DENT completed an initial coin offering (ICO), raising $4.3m off of 70 billion offered tokens, valued at $0.00006 at the time. As part of its “Gigabytes for Africa” program, DENT has committed one billion DENT tokens to advance the UN Sustainable Development Goals (UN SDG) in underdeveloped nations.
How to Buy DENT Tokens in India?
By following a few simple steps, you can buy DENT tokens in India via WazirX, India’s most trusted and widely used cryptocurrency exchange.
Now, you can buy DENT tokens using P2P trade. Here are all your questions answered about P2P.
Step 1 – Sign-Up on WazirX
To start trading the DENT token, you should first create your account by signing up on the WazirX platform. Or you can directly Log-in if you already have an account with WazirX.
Here’s a guide explaining how to open an account on WazirX.
Step 2- Verify your email account and set up your account security.
The following step is to verify your email address. After signing up, you’ll receive a verification link on your email address by which you’ve just created your account.
On clicking on the link, you’ll have two options to assure the security of your account – the authenticator app and mobile SMS (as shown in the image below)
Note: The authenticator app is a more secure way to stay safe when compared to mobile SMS because there’s a risk of delayed reception or SIM card hacking.
Step 3 – Complete the KYC.
After selecting the appropriate country, complete the KYC process.
Note: Without completing your KYC, you will be unable to trade P2P or withdraw funds on the WazirX app.
Step 4 – Add funds to your WazirX account through P2P.
After linking your bank account to your WazirX account, you can buy USDT through P2P to the WazirX wallet. The USDT will work as funds to buy other coins.
Step 5 – Buy DENT on WazirX
After logging in to your WazirX account, you can select USDT from the “Exchange” tab. You can see all the price charts, order book data, and an order input form on the right side of the screen.
Click “Buy” after entering the amount and checking the total USDT amount to be paid.
Your order will be placed according to the price you have input. A seller willing to sell at a price will be notified, and then you can exchange the tokens using P2P.
It might take a few minutes for the order to be completed, but as soon as it is executed, you will receive the DENT coins you purchased in your WazirX wallet.