If you have any interest to buy Panda DAO (PANDA), you will be required to have either Bitcoin abbreviated as (BTC) or Ethereum (ETH) for trading purposes. I have reviewed the major cryptocurrency exchange Binance in this post to help you determine the best sites to buy cryptocurrency using a credit card or bank account. Take a read and get tips on the best cryptocurrency trading.
Step 1: How to create a Binance account:
1.1 Visit Binance’s Website (https://www.binance.com/en)
There have been several phishing cases reported over the past years that are imitations to the original site, it is essential to scrutinize the URL to the website keenly. First, be on the lookout for the ‘Secure’ certificate that should pop up in your address bar and that acts as a confirmation of the site’s genuineness. Second, to be extra safe while trading on the platform, ensure to bookmark the authentic site to evade any confusion in future searches.
1.2 Fill in your trading details
You have to fill in your details by going to the ‘’Register” tab found in the right-hand corner of the website’s page and fill in your trading details. For instance, you will need to fill in your mobile number or you choose to use your email address. For the email address, it is necessary to use your main email that you can access easily and the most secure one since you will need it to sign in to your Binance account always.
You also need to choose a strong password for your email; a strong password should comprise a mix of numbers, symbols, upper and lower-case letters. You will receive a 6-digit code via the email you provided as your account’s verification code and for completing the registration process.
1.3 Allow 2FA-Two-factor authentication (Optional)
To make your account more secure you need to allow use of a two-factor authentication after your first log in. Trust me; it is vital to set up the 2FA because it makes your account more secure from any hacking activity!
Every time you log in with the two-factor authentication, you will need to provide a unique code once your type in your email and password. To get your unique code, use the Google authenticator app downloaded into your smartphone.
Step 2: Buying your first Bitcoin (BTC)
To send money to your Crypto wallet account on Binance either directly via your bank account through SWIFT money transfer or you can opt to use your debit/credit card. For this part, I will guide you on how to use your credit card.
Binance previously didn’t allow the use of credit or debit cards on its platform, but the same has been introduced. Binance partnered with Simplex to allow its users to use their credit and debit cards to buy Bitcoin or Ethereum. This has led to faster Crypto transaction speeds, low transaction charges, and more transaction flexibility.
I highly recommend buying Bitcoin first and then trading it for the right amount of Panda DAO (PANDA).
It is easy to purchase Bitcoins via your credit card but I will elaborate on best ways you can do it step-by-step to make sure you understand all the trading nitty-gritty.
- Move your mouse’s cursor to ‘Buy Crypto’ tab found on the top bar and activate the dropdown menu. Then choose the currency, For instance, US Dollars, and click the ‘Credit/Debit Card’ to lead you to the next step.
- You be led to the next page; in this page you will see options to choose the desired Bitcoin (Select BTC), and the amount you need to spend to buy your choice Bitcoin amount. The total amount you need to spend will be displayed according to the Bitcoin amount you request and the matching market price at that time (inclusive of all fees). However, you can choose to first set the total charge then the system will automatically calculate the order amount for you.
- Fill in your credit card details and personal information too. Once done, you need to click “Pay now” and give it a moment to verify your details.
- You will be required to verify your email and phone number if it happens to be your first simplex payment via a code send through your email or an SMS. Complete the verification process by opening the link in your email and type in the code you receive via SMS. Once you do all the above, you can click “Continue”.
- Verification of identity follows next via the use of an official document. Basically upload your identification document photo accompanied by your personal details and click the “Upload Document” tab.
Lastly, your personal document will be approved once verified by the system and an email send to show the confirmation of order purchase. Subsequently, your Binance account is credited with the purchased BTC or Ethereum.
Step 3: Transferring Your Cryptos to an Altcoin Exchange MXC
Now let us see how to purchase Panda DAO (PANDA) using your investment from Binance.
However, know that not every crypto can be traded in Binance we need to transfer our coins to an exchange that Panda DAO (PANDA) can be traded. Therefore, I will guide you to MXC which is a perfect exchange to trade altcoins. We will use the link below to register your new account.
Once you have completed similar processes as we’ve done before with Binance you are now ready to transfer our Bitcoins.
Step 4: Depositing BTC to Exchange
If you have already created your trading account setup at one of the exchanges that trades Panda DAO (PANDA), you will have to transfer your BTC from Binance to that specific exchange.
You will have to use your wallet system. mxc assets, just move your mouse over to “Assets” on the top right and click “My Assets”. Find “BTC” from Token section and copy the given “Deposit Address”
This part may be little bit difficult but don’t worry, it is easier than a bank transfer. After you have copied your unique BTC wallet address go back to Binance. Then move your cursor to “Wallet” on the right hand side of the topbar and once the popup shows up, click on “Fiat and Look for (Deposit & Withdrawal)”. Then find BTC in the list and click on “Withdraw” on your right. Then, paste the deposit address you just copied from the other exchange and select BTC as the transfer network. Next, type the amount that you want to withdraw (you may click the Max button if you want to withdraw all).
Also, click on the Submit button start the withdrawal process. To continue with the withdrawal, Binance may request you for your 2FA code and also you will have to confirm the withdrawal with an e-mail.
That’s all you need to do, then wait shortly so that the blockchain to confirm your transaction.
Step 5: Trading Panda DAO (PANDA)
Now you can move back to MXC to buy Panda DAO (PANDA) with the Bitcoins you sent. mxc exchange
Just move your mouse over “Exchange” and click “Standard” and then you will see trading menu. Then, in the right column make sure to select “BTC” pair and in the search bar type in “PANDA”. If you have already moved your coin click on it and now you will see a price table of PANDA/BTC at the center of the page. Then, select the “Market” tab as that is the most straight-forward type of buying orders.
Also, you can either type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons.
If you have confirmed everything, click “Buy PANDA”. Now you own your PANDA!
Other Exchanges to Buy Cryptos
The following are other sites you can buy from these exchanges:
HotBit (Which permits US investors)
MXC (This exchange allows US investors)
On top of the above-listed exchanges, there are some more common crypto exchanges where daily trading volumes and a huge user base is available. This helps to ensure that you can sell your coins any time you want and the charges for the trading are not high. It is recommended that you should also register on these exchanges because whenever Panda DAO gets listed there it give the traders who have already registered a large amount of trading volumes, that means you will be provided with some great trading opportunities!
Final Step: How to Store Panda DAO securely in hardware wallets
1. Ledger Nano S
- Easy to set up and has a friendly trading interface.
- Allows use on desktops and laptops
- Lightweight and Portable too
- Has been designed to Support most blockchains and a wide range of (ERC-20) tokens
- Has many trading languages.
- Designed by a well-established company found in 2014 with great chip security
- It is not expensive but can be acquired at affordable price
2. Ledger Nano X
- It made with a more advanced and secure element chip (ST33) than Ledger Nano S
- Has an easy design that allows the use on desktop or laptop, or even smartphone and tablet through Bluetooth connection.
- Also Lightweight and Portable and has a built-in rechargeable battery
- Has a Larger screen
- Comes with more storage space compared toLedger Nano S
- It supports most blockchains and wide range of (ERC-20) tokens
- Provides several languages for every customer
- It was designed by a famous company found in 2014 with great chip security
- Can be obtained at an affordable price
If you still have plans to stay at hodl” as some people call it, basically misspelt “hold” (which become famous as time passes) your Panda DAO for some long time, you need to find ways to ensure it stays safe safe,
However Binance is the most safe cryptocurrency exchange, in the past few years there have been hacking incidents and funds were lost. Because of the design of the wallets in exchanges, they will be accessible always via the internet (“Hot Wallets” as they are called), therefore exposing certain aspects of weaknesses.
Thus safeguard your cryptos by putting them in “Cold Wallets”, where the wallet will only have access to the blockchain(or simply “go online”) when you send out funds,. This reduces the chances of being hacked. For example, use a paper wallet which is a type of free cold wallet. It can also be defined as an offline-produced pair of public and private address and that you write on a paper for keeping safely with you. But, it is not permanent and may be faced by certain risk.
Thus, Hardware wallet is therefore the best compared to cold wallets. Since they are usually USB-enabled devices that can hold the key information of your wallet in the safest manner. Also they are designed using military-level security and their firmware’s are continuously upgraded by their manufacturers and this makes them extra safe to use. For example, Ledger Nano S and Ledger Nano X and are most common hardware wallets, you can buy one at $50 to $100 depending on the specifications they have. I highly recommend these for holding your assets because these wallets are a worthy every penny according to my experience and opinion.
Frequently Asked Questions
Is it possible to buy Panda DAO with cash?
The answer is No. Because there is no way you can directly buy Panda DAO with cash. But, using marketplaces such as LocalBitcoins to first buy Bitcoin, and completethe rest of the steps by transferring your bitcoin to respective AltCoin exchanges.
How do I Buy Bitcoin from local sellers?
You can go to LocalBitcoins that is a peer-to-peer Bitcoin exchange. It is more of a marketplace where users can buy and sell Bitcoins to and from each other. Users, known as traders, make advertisements to show their price and the payment method they want used. Then buyers buy from the traders to buy from sellers in a particular nearby region on the platform. LocalBitcoins is after all a good place to go to buy Bitcoins when it is impossible for you to find your favorite payment methods somewhere else. The site’s prices are high and you have you have to be extra careful to avoid conmen.
What are the quickest ways I can buy Panda DAO while living in Europe?
While in Europe you have the advantage of buying cryptos in an easy and quick way. Because Europe has even online banks which help buyers to simply open an account and transfer money to exchanges such as Coinbase and Coinmama. Such banks which are common as online banks in Europe are Bunq, N26 and Revolut.
Can I use alternative platforms to purchase Panda DAO or Bitcoin with credit cards?
Yes you can, you just need to visit Changelly which an easy to trade in site especially when it comes to buying Bitcoin with credit cards. It provides an automatic cryptocurrency exchange that gives a buyer the opportunity to exchange crypto fast and buy them using credit card. It has been designed to allow users to have easy crypto buying since it has a simple user interface and provides instructions that are easy to follow too.
What People Want, What Pandas Build
Panda DAO seeks to reduce the control centralized organizations have over information, and instead put personal data into the hands of the people. Panda DAO also aims to produce tools for DAOs, allowing more individuals to work full-time for this new type of organization. Panda DAO is more than just a decentralized media organization. Panda DAO is developing new decentralized data systems and liberating internet products and human resources from Web2.
Panda DAO has been community-managed since the beginning and now continues this path by decentralizing all authority over the treasury. Token holders own 100% of the treasury assets. This white paper was created with the purpose of establishing ground rules which will discipline evildoers and motivate the contributors in the DAO. Elections will occur in cycles, keeping the power of project initiators or evildoers in check. The white paper also defines the proposal process, review steps, and voting weights, which enable managers and workers to hear the voice of everyone in the community.
The platform mainly collects the public cryptocurrency information from the internet, including but not limited to Twitter, the official website of the CEX, the official forum of the project, the official website of the government, media, etc. After obtaining massive data, the project will crowdsource the auditing process. Community members will review and annotate the information. Panda DAO hopes that by leveraging a decentralized community system, the end product will clearly convey current and important information, attention index, information source, while also screening out fraudulent information, etc.
After obtaining massive amounts of media data, engineers disassemble all information through algorithms to generate word clouds. Based on this function, users can immediately learn the current public opinion, the sources of that opinion, the rate of virality, and so on. An early warning system will notify subscribers immediately when sentiment shifts, for example, when a large number of $SOS moves in the market.
Although blockchain has been developing for years, so far we have never found a suitable, anonymous, decentralized payment gateway. Payments are fundamental in a decentralized world, but most web3-related payments are currently executed on Web2 technology. Panda DAO plans to develop a payment gateway, controlled by a multi-sig contract, designed to meet the payment needs of web3 projects.
Community Operation Rules
Panda DAO has no CEO, only Leaders. If needed, the community could vote for switching to a new leader.
The treasury of Panda DAO will launch with 9 multi-sig keyholders. The Community can decide later to increase, reduce, or replace the keyholders.
By default, the DAO will conduct a leader election every year.
An emergency election can be held anytime, so long as community members vote for it.
No DAO member may inhabit both multi-sig and leader roles simultaneously.
In regards to funding from the treasury, no matter what amount is planned to be used, there must be a vote.
For any modification of the Panda DAO white paper, proposals and community votes must be necessary.
Vote Weighting Rules:
Token Vote Weighting: 80%
Work Group Vote Weighting: 15%
Leader Vote Weighting: 5%
Token Voting Type:
Token Voting includes veToken voting and unstacking token voting. The weighting of these two types is the same. The only difference is that they each yield different earnings.
People who stake their Tokens get tokens in return. Every year the DAO issues a dividend to veToken holders. Staking does not cause holders to lose their voting rights. Instead, the community of veToken has its own voting system. When the staking lock period expires, any veToken the holder possesses will reduce to 0. For example, customer A stakes 100 Token, he will get 100 tokens in return and when his staking lock period expires, his betoken will turn to 0.
Panda DAO designed the tokenomics this way to avoid whales from using the funding in Panda DAO’s treasury on their own behalf. In addition, this design can also prevent voting mistakes. All voting results will be transparent, including how the Work Group and Leader voted. Work Group includes treasury multi-sig roles, auditors, developers, and other staff.
Token Distribution and Economic Plans
The initial token distribution of Panda DAO is shown below:
DAO Fundraising: 50%
The Project Development Team: 12% (Linear releasing)
The Content Auditing Team: 6% (Linear releasing)
Leader: 4% (Linear releasing)
Columnist: 6% (Linear releasing)
Other Team Spending: 12%
PeopleDAO Funding: 5%
LP Pool: 5%
Linear releasing: It is a 1-year cycle and 1/12 will be released on a monthly basis. Releasing expires after 1 year.
Panda DAO plans to raise 500 ETH on JuiceBox, of which 5% will be donated to the PeopleDAO community to credit their funding and support at the beginning of this project. PeopleDAO will use this donation to support more DAO ecosystems. All raised funding will be released at one time and there is no linear unlocking.
The sale price of the Token will be 1 ETH = 500,000 Token. After the fundraising period, Panda DAO will calculate and produce the corresponding token supply based on the funding we receive.
To ensure a fair sale, as well as to avoid Panda DAO’s tokens from being owned by a few people which could result in centralization, Panda DAO will close the funding channel 24 hours after the funding exceeds 500ETH. The token then will be minted and released.
The Project Development Team
In the first phase, 12% of the Token will be released to the development team, in which 3% will be released to all developers and the remaining 9% will be distributed based on an internal vote (All votes will be published).
The Content Auditing Team
The content auditing team will filter and make sense of large amounts of information. The identity of every auditor will be public in order to be transparent. Panda DAO plans to recruit more than 1K auditors who will use their spare time to contribute.
Every month Panda DAO will distribute Token rewards to auditors based on the auditing work they have accomplished and our analytical searching model.
The criteria include but are not limited to:
Timely Audit; 2. Audit Quality; 3. Audit Amount
Panda DAO has not developed our own newsdesk at this moment. Panda DAO’s data is sourced from the internet publicly and provides a basis for articles. In order to reward the columnists, Panda DAO will pick hundreds of blogs, articles, videos, etc every month and then vote for them. Based on the weight of votes, Panda DAOwill provides Token rewards to each author. Panda DAO hopes to get more and more high-quality content with this approach.
Beyond the Token distribution above, Panda DAO will also reserve tokens for other teams, such as operating teams and full-time partners. This part also belongs to the community treasury, and the specific case needs to be proposed by the community. Of course, the community can propose to use it in any way for non-team members.
In the beginning, Panda DAO will put 5% of our Token in LP Pool to serve the market circulation and investors from the secondary market. The fee profit will get added to our treasury.
In order to reduce impermanent loss, the community will deposit in batches to ensure that ETH in the LP pool is less than 10% of the funding amount.
As an early funder and contributor, 5% of the Token will be given to the PeopleDAO community for their governance of subDAO. At the same time, this will bond the PeopleDAO and subDAO even more and create a community of interests.
The leader of PandaDAO will need to be a full-time employee. The token rewards will be given linearly to the Leader on a monthly basis. When the proposal for replacing the leader passes, the token compensation will be terminated for the current Leader and switched to the new Leader.
The raised funding will pay for renting servers and API connection, safety auditing, partnership costs, marketing, and the initial build of the LP Pool. The cost of renting a server will be 999 USD per month. As Panda DAO approaches the late stage, Panda DAO will expand its server capacity and set up a backup server. Safety auditing includes contract code, organization operation, and other code logic safety auditing. Panda DAO will also need a high-performance CDN server to prevent DDOS attacks and other normal SQL and XSS attacks. The product development at the late stage will also need server resources and bandwidth expansion. For full-time workers, Panda DAO will have some salary packages and Token option rewards. All of these efforts require funding.
Distribution of DAO Treasury Revenue
40% buyback of PandaDAO Token
10% veToken dividend
5% purchase of $PEOPLE token, sent to PeopleDAO treasury
45% Other digital assets reserve
*Attention： This is treasury revenue, not funding to DAO! Treasury revenue includes LP fees, product charge profit, advertisement income, etc.
Treasury revenue distribution
Treasury revenue distribution
Buyback PandaDAO Token
The community will use 50% of the revenue collected from the Treasury to buy back tokens, funding the incentive program for the coming year, while also capturing value for the PandaDAO token. The token’s main purpose is to fill the incentive pool of long-term contributors (project development team, content review team, columnist team, other teams). In this way, Panda DAO can ensure the economic plan continues. If the Token premium is too high, resulting in insufficient Token storage in the Treasury, the incentive plan can be implemented by using other assets(USDC, ETH, WBTC, etc).
The community will use 10% of the Treasury proceeds to reward people who put their tokens into staking. VeToken dividends are mainly linked to the time weight of staking and the number of staking.
Purchase $Token to Fund PeopleDAO
Having established a precedent, ConstitutionDAO holds significance to DAOs. And PeopleDAO is PandaDAO’s early backer. PeopleDAO, PandaDAO, and AssangeDAO. These projects are all based on the ideas associated with the $PEOPLE token, which represents basic consensus. Donating 5% does not strain PandaDAO financially and is another way to give back to PeopleDAO. For $PEOPLE purchased, the PeopleDAO community can initiate a proposal for burning or other incentive programs. Perhaps at a later stage, the PeopleDAO community will initiate its own revenue streamt, such as a LaunchPad. Until then, however, the DAO community needs to help each other and later the community can submit proposals for changes or cancellations for this.
Other Treasury Assets
Other Treasury assets include stablecoin, ETH, BTC, etc. The use of Treasury assets can range from investments in other projects to stalbecoin farming. This is a community-sponsored decision because managers and workers do not have absolute authority over any use of funds from the Treasury.
PandaDAO’s current product is Panda Media, which mainly conducts information screening, filtering, analysis, and push alerts of internet networks. Project founder, Panda, will add premium functions, such as push alerts for hot keywords, push alerts for important information, advanced search function, and so on. At the same time, Panda DAO will also develop other premium products, and these premium products can generate a lot of revenue for the Treasury. In addition to the user’s payment for the product, Panda DAO also havs LP pool revenue, Treasury stablecoin farming revenue, investment revenue, advertising revenue, and so on.
In the case Panda DAO does not have a multi-sig Treasury, PeopleDAO’s multi-sig Treasury will manage the full financing results and the remaining tokens.
The assets will be transferred to the Panda DAO Multi-Sig Treasury after it is confirmed. People DAO’s multi-sig is 9 people, elected by open election, which can ensure absolute fairness.
And one of the rules of the community is that any use of Treasury assets must be put to a vote, from financing, capital migration, to any link of capital use. This approach avoids personal appropriation of funds.
After the financing, Panda DAO will initiate a code security audit of ERC, which will be conducted by a professional security organization. After the completion of the first iteration of the product, we will start the security work of the whole product, including but not limited to server security, front-end and back-end code security audit, architecture security audit, logical vulnerability security audit, etc.
Proposal Posting, Review, and Voting Process
Any token holder can post a draft to Panda DAO’s Discord. Panda DAO will create a proposal template for reference. The community will discuss active proposals once per week, with Discord moderators facilitating the conversation. The discussion will include stakeholders such as PandaDAO multi-signers, admins, leaders, full-time staff, and other workers, who will do an initial internal vote on the proposal. If the proposal receives more than 60% approval it moves forward to a public vote on whether it should be implemented. The community can only approve one proposal per week, to ensure the efficiency of implementation and tracking of proposals.
All proposals will go through three rounds of voting: Snapshot (unlocked Token voting), veToken voting, and Dework voting (workers and Leaders voting) The ve system is currently in development so the DAO will start with Snapshot and Rework voting. After the development is completed, the ve system will be handed over to the security team for audit and then go live.
The main reason for the design of this proposed system is to avoid approving proposals with less community consensus. Additionally, we want a system where even if you hold a small number of tokens, you can still contribute towards adopting valuable proposals.
No project can be 100% successful, including PandaDAO. If the project fails for any reason, the community will initiate a proposal and if voted in, a refund process will be initiated.
Panda DAO will calculate the worth of assets owned by the DAO at that time, including the amount in the Treasury. A snapshot will be taken of the wallet addresses investing in the DAO at that time. Everyone will get a fair refund.