The ultimate beginner’s guide for MultiversX

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What is MultiversX?

MultiversX is a distributed blockchain network for next-gen applications. Decentralized via 3,000+ nodes, scalable through sharding, fast, secure & green.

$EGLD is the native cryptocurrency of the MultiversX network. It is used to pay transaction fees, governance, and staking on the network. $EGLD is also used as a store of value and can be traded on various cryptocurrency exchanges.

eStandard Digital Token (ESDT) is a general standard token of the MultiversX blockchain platform (MultiversX’s version of ERC20), embedded in the protocol, that allows people to issue their own tokens using network advantages: fast, inexpensive to mint (0.05 eGLD) and transfer (0.00005 eGLD).

How to create a wallet on MultiversX?

xPortal

The first option, and probably the easiest, is to download xPortal onto your smartphone.
Then simply follow our step-by-step guide!
If you want to go even further and install a second wallet on your xPortal, visit our dedicated guide!

DeFi wallet web extension

The second option is to download the DeFi wallet web extension, which is a wallet like Metamask but running on MultiverX. Check out our step-by-step guide to creating your wallet!

MultiversX Wallet

•You can also create on on the website itself: https://wallet.multiversx.com/
Follow our step-by-step guide

Although MultiversX wallets are very secure due to the construction of the blockchain itself, no drain wallet is possible, and these wallets are non-custodial, you can also store your tokens on Ledger.

How to buy $EGLD

There are several ways to buy $EGLD. You can buy directly by credit card from xPortal.
To do this, go to the Cash tab, click on +Add money and choose the FIAT option.

You can also use the majority of centralized exchanges such as Binance, simply enter the address of your MultiversX wallet when you withdraw. Transactions are almost instantaneous on the blockchain, but withdrawals and transfers to/from CEXs can take longer.

Secure the chain, earn rewards

As this blockchain is proof of stake, you can stake your EGLD on it to make it secure and earn rewards at the same time. We have a complete guide to help you do this in the easiest way on the xPortal application. How to stake EGLD on xPortal

You can stake them also on the MultiversX website directly, using the connection solution that’s easiest for you!

Some centralized exchanges also offer staking products on the EGLD on an ad hoc basis, but we will not be using this solution.

For some time now, it has also been possible to exchange EGLD for sEGLD. This solution is offered by Hatom protocol. These sEGLD add the staking rewards to your EGLD amount and allow you to keep your tokens liquid and use them even if they are staked.

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Ecosystem essentials

Explore

You now know the basics of this blockchain, but perhaps you’d like to explore it further. To do so, use the official explorer or EGLDscan!

Exchange

You were able to acquire EGLD but now want to buy other blockchain tokens, use the official decentralized exchange xExchange or one of the other third-party solutions like AshSwap, OneDex and Jexchange.

Decentralized finance and lending

There are a number of platforms available for making your cryptocurrencies grow, but beware of the risks involved. You need to do your own research before investing your money!

For all decentralized finance, you can go directly on xExchange or to the third-party solutions already mentioned, such as AshSwap, OneDex, Jexchange or JewelSwap.

For lending and borrowing, go to Hatom protocol.

What about NFTs?

The two main platforms for NFT exchanges are XOXNO and FrameIt.

Launchpad

Multivers also offers its own Launchpad: xLaunchpad!
Some great projects have already been represented there, including Holoride, Itheum, Cantina Royale, Ashswap, Hatom and Ta-da.

Bridge

There are currently three bridges for sending or receiving your tokens on other blockchains.

Bridge to Ethereum: MultiversX official bridge
Bridge to Solana: OneFinity Bridge
Bridge to Polygon (using $moove): Moove protocol bridge

xPortal
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MetaMask
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MultiversX Ecosystem (EGLD)

The ultimate beginner’s guide for MultiversX

What is MultiversX? •MultiversX is a distributed blockchain network for next-gen applications. Decentralized via 3,000+ nodes, scalable through sharding, fast, secure & green. •$EGLD is