How to Buy the NOMAD Token for Beginners for the NFT workshop
Updated: Nov 23, 2021
Nomad coin Contract Address on Binance
We are happy to put on our first workshop on learning how to Mint NFT's and hot wallets in Playa Del Carmen, Mexico. This is our first educational Cryptocurrency workshop requiring cryptocurrency tokens. Your patients is appreciated.
This is our beginner friendly guide to buying the Nomad token that is a requirement for taking the workshop. You will need 10 NOMAD tokens as admission to the workshop. While this process may seem a bit daunting at first the skills you learn here will help arm you with valuable cryptocurrency skills.
Our Nomad token does not yet exist on big centralized exchanges like coinbase and crypto.com yet. Instead it is available in decentralized exchanges like pancake swap and uniswap. By buying our tokens you are will learn a lot about hot wallets, decentralized apps, and different blockchains. There is more than one way to buy the nomad token, and if you already use Binance or pancake swap please see this post for instructions to purchase NOMAD.
Pancake swap allows you to trade for tokens that sit on the binance smart chain (BSC). The BSC network tends to be faster and cheaper than the ethereum network, which is why we migrated the nomad tokens here. You will need BINANCE crypto like BUSD or BNB to participate in the pancake swap.
The nomad coin is the first digital nomad coin that we originally minted on the ethereum blockchain. It is also known as an ERC20 custom token. The ethereum network has become too popular with applications like non fungible tokens (NFT's) bringing expensive gas fees for just about every transaction including purchasing the nomad coin.
To alleviate the expensive gas fees to purchase our cryptocurrency we migrated a 20% of our tokens from the ethereum network to the binance smart chain (bsc). The technical term for this is called bridging. The BSC network is similar to the ethereum network, but the fees to use it are a lot cheaper.
Step 1: Where to Buy BUSD and which Crypto exchange to use (do this before the
We recommend using the cryptocurrency exchange called crypto.com to buy BUSD. Click here to download it. This exchange is also one of the best all around exchanges today and it is a favorite of the co-founders of the nomad token.
Why we like Crypto.com
Good referral program. You and the referrer get $25
Good selection of coins from Shiba Inu to the major cap crypto tokens like cardano and ethereum
Easy to earn good interest rates from your tokens
The app is easy to use and powerful & features powerful notifications & charts
You can apply for the crypto visa card allowing you to make regular purchases in crypto or regular currency
So go ahead and sign up for crypto.com if you haven't already. We will cover instructions to buy BUSD later on.
Step 2: Install the Metamask Hot Wallet
Metamask is our recommendation for a hot wallet and your gateway to the cryptocurrency world and connecting to multiple blockchains. A hot wallet is basically a digital wallet that can hold numerous cryptocurrency tokens on multiple blockchains (networks). There are other hot wallets you can use like coinbase wallet or trust wallet, but we recommend Metamask. You can install metamask from this link. Just be sure to write down your seed phrase and store it in a safe place to recover your password. Do not share it with anyone.
The metamask wallet exists outside of centralized exchanges like coinbase, binance, and crypto.com, but you can send cryptocurrency from coinbase to your metamask hot wallet.
Your hot wallet is your key to connecting to decentralized exchanges like pancake swap and non fungible token platforms like opensea.
After you install your metamask hot wallet we will recommend that you add the BSC network & the Polygon (MATIC) network to your metamask. By default you are connected to the Ethereum network, but we need to add these other networks to connect to different platforms.
Add the Polygon Matic Network to your hot wallet . This will be used for gasless NFT minting later
Fund your hot wallet with BUSD on Crypto.com
After you've add the BSC network to metamask you need to send some BUSD to your hot wallet. BUSD is a stablecoin of the binance ecosystem and is pegged to the US dollar. We will use metamask in our example for our hot wallet.
transfer the BUSD off crypto.com to your external wallet. I like to use the qr code from my metamask. You will have to pay a $5 fee, and select the BSC network. It may take 5-10 minutes to transfer
You then need to connect to pancake swap and swap All your BUSD for BNB. You need BNB to cover transactions on Pancake swap
If you haven't already go to the nomadcoin.com and click the buy button to add the NOMAD token address to your wallet
Now you can swap BNB for NOMAD. You will need at least 10 NOMAD for access to the course.
Add the Nomad token to your metamask and verify you received your tokens! Celebrate!
You will then need to send your NOMAD Tokens to our target wallet address