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What is EGLD?

EGLD is the native cryptocurrency of MultiversX, functioning as digital, global money. It's the primary asset used within the MultiversX ecosystem.

Key Features of EGLD​

  • Ownership: EGLD allows you to be your own bank, with full control over your funds.
  • Security: Protected by cryptography, exists under your own account, ensuring the safety of your funds and transactions.
  • Decentralized: No central authority controls EGLD, making it a truly decentralized currency.
  • Accessibility: All you need is an internet connection and a wallet to use EGLD.
  • Flexibility: EGLD can be divided into small units (as small as 0.000000000000000001), allowing for transactions of any size.
  • Payments: Sending EGLD without any intermediary, everything directly on-chain, is like being face-to-face and handing cash over.

Unique Aspects of EGLD​

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EGLD is the lifeblood of MultiversX. When you send EGLD or use a MultiversX application, you'll pay a fee in EGLD to use the network. This fee incentivizes validators to process and verify transactions.

Validators, the record-keepers of MultiversX, ensure no one is cheating. They are selected to propose blocks of transactions and are rewarded with EGLD.

The work validators do, and the capital they stake, keeps MultiversX secure and decentralized. EGLD powers MultiversX.

When you stake your EGLD, you help secure the network and earn rewards. The threat of losing staked EGLD deters attackers. More on staking.

  • Fueling MultiversX: EGLD powers the MultiversX network, paying for transactions fees and incentivizing network validators.
  • Staking Rewards: By staking EGLD, users help secure the network and earn rewards, promoting a robust and decentralized ecosystem.
  • Collateral Use: EGLD can be used as collateral within decentralized finance (DeFi) applications, enabling borrowing, lending, and earning interest.

Value Proposition​

  • Transaction Fees: EGLD is essential for paying transaction fees within the MultiversX network.
  • Store of Value: With a fixed supply, EGLD serves as a digital store of value.
  • Investment: EGLD's role in the growing MultiversX ecosystem makes it a valuable investment, similar to Bitcoin or other cryptocurrencies.

Getting EGLD​

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EGLD can be purchased through various exchanges and stored in compatible wallets. Always ensure to use trusted platforms for transactions.

You can earn EGLD, receive it from your peers, friends or buy it from exchanges and various other apps.

  • Centralized exchanges (CEXs): Exchanges are platforms that offer you the service of buying EGLD using traditional currencies. They have custody over any EGLD you buy until you send it to a wallet you control.
  • Receive EGLD from your peers and friends:: Once you have a MultiversX account, all you need to do is to share your public address to start sending and receiving EGLD.
  • Wallets: xPortal wallet lets you buy EGLD with a debit/credit card, directly from the dApp.
  • Staking Rewards: You can play the role of a delegator (user) or validator (node operator) and start earning EGLD by delegating to a staking provider or by simply running a validator node.
  • Earn EGLD: You can earn EGLD by participating in hackathons, campaigns, coding challenges, airdrops, bug bounties etc.
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To interact with the Testnet or Devnet, you'll need xEGLD, which can be obtained from one of the available faucets.