UPDATE 29-10-2022: The Welnance platform is DOWN. It looks like the project is dead.
Over one year ago, Phousy Group’s crypto company Welnance launches its crypto platform and the utility token $WEL. After a rocky start that saw the company getting in trouble with BOL, the service is now live.
Welnance is a crypto platform that allows you to swap crypto, stake, and also farm crypto to earn interest.
So far, acquiring $WEL token is not very easy for crypto amateurs. The token is only listed on Pancakeswap which is a decentralized exchange on BSC.
In this article, we will explain step by step how to buy $WEL.
Register to Binance
First of all, you need a way to convert your FIAT money into cryptocurrencies. To do so, we strongly recommend using the Binance Platform. The main reason is Binance is the biggest crypto exchange in the world. The second reason is that Binance runs its own blockchain called Binance Smart Chain or BSC. This allows Binance to offer very low transaction fees.
If you want to get even lower transaction, fees, you can register to Binance using our affiliate link. There is also a welcome bonus of up to $50 waiting for you by using our affiliate link!
You can also enter the code ”42315554” in the referral ID field when opening your Binance account and receive a 20% fee discount for spot (max) and a 10% fee discount for futures (max).
You can simply click the button below to open your Binance account with a 20% fee discount:
Convert your FIAT money into Crypto.
Option 1: Buy BNB (Binance Token) with USD by using a credit card or bank transfer.
On Binance, you can top up your account with FIAT money using, whether a credit card or bank transfer. Using a credit card is faster, but a bit more expensive.
See how to buy Crypto on Binance with a credit card.
Option 2: Buy BNB (Binance Token) with Lao Kip with Binance P2P.
The great thing about Binance is that it supports Lao KIP. You can convert Lao KIP to Crypto such as Bitcoin or Ethereum simply by using Binance Peer to Peer Service.
See our tutorial: How to buy Bitcoin with LAK.
Create a crypto wallet account using Metamask or TrustWallet.
Once you top up your Binance account, you would have to convert your FIAT money into crypto. If you use P2P, you already bought crypto – more likely USDT.
We recommend exchanging the USDT on Binance with BNB. BNB is the crypto token of Binance. As the whole process will be running on BSC, it is preferable to use the Binance token to perform all your transactions.
Now, you would have to create your own crypto wallet by using Metamask or Trustwallet.
How to create a wallet on Metamask?
How to create a wallet on Trustwallet?
Once your wallet is created, withdraw your BNB from Binance to your wallet. Be careful to choose the right chain for your transfer, or your crypto may be lost.
Then using the wallet browser, connect to Pancakeswap and exchange your $BNB with $WEL.
And that is done, you now have $WEL token on your crypto wallet.
Quite a daunting process.
Once you have your precious $WEL tokens, you will be able to stake them on the Welnance platform and collect interest in near real-time. The annual interest % or APY varies. To find out what the APY is, connect to the Welnance crypto application.
