What is a promise token?
A Promise token is a digital asset used as a secure back-end settlement in Cryptocurrency. The basic function of a Promise token is to provide an asset to the network, such that the network can use the asset it holds and process transactions. In a way, the Promise token acts like a security clearance, a guarantee for the digital asset. This article will focus on the basics of how you can create your own promise tokens in the market today.
When you want to purchase a Cryptocurrency token, you can either buy them from a physical location or order them online. The process would be similar for either method; however, if you were to purchase them from a physical location, it would involve you walking into a store or office and browsing through various products. This is because you are not technically dealing with a network, such as a company or a computer network. For instance, you could order them online, or at a physical location.
Buying tokens from physical locations
When you buy Cryptocurrency from a physical location, you would be dealing with a company or business. This company would offer you the product for sale, and then act as the intermediary between you and the buyer. The buyer would pay for the item using a payment gateway such as PayPal or Moneybookers, and then the business would take care of converting the digital asset into an easy-to-use payment interface, such as a credit card or a check. If the company was operating nationally, then they would offer a centralized exchange platform, such as Gemini or Nasdaq, which would allow you to trade nationally.
However, if you were to deal with a national cryptocoin exchange, you would need to open an account with them. Usually, all you would need to do to open an account is to provide valid information, such as your email address, a birth date, and a social security number. After setting up your account, you would then be able to purchase a promise token from their secure server, usually at a cost of a few dollars per token. You then would give this token back to the investor once you received a certain amount of income from your sales. The profit would be held in a separate wallet, called a profits wallet.