- Transactions for data, products and services in the Gene-Chain Marketplace are paid with cryptocurrencies.
- Because buying and managing cryptocurrencies is a new concept to so many, we’ve simplified the process.
- There are a number of ways to get started buying genomic data in the Gene-Chain Marketplace, but none are easier than simply starting with Bitcoin and using it to buy mDNA tokens directly in the Gene-Chain platform.
EncrypGen created a utility token called DNA (eDNA) which is readily available on a number of cryptocurrency exchanges and will serve as the primary form of payment across the Gene-Chain ecosystem. Crypto savvy buyers will have a good understanding of how to acquire and securely store DNA tokens in a Metamask Wallet, and this tutorial will guide you through the process.
Because we wanted to make the process of buying genomic data as simple as we could for those who may be new to cryptocurrencies, we made the Gene-Chain Marketplace compatible with the most widely known and used cryptocurrency on the planet, Bitcoin (BTC).
For those who want to skip the learning curve of buying and converting cryptocurrencies we offer direct BTC to mDNA (multi-chain DNA) purchases. The process is as simple as acquiring Bitcoin (BTC) and using it to purchase mDNA tokens directly in the Gene-Chain buyers portal. BTC–mDNA purchases come at a premium price with mDNA valued at $0.50 USD each and are available now. Using BTC to purchase mDNA tokens is ideal for genomic data buyers and labs who don’t want to take the time to open accounts on crypto exchanges, set up digital wallets and transfer tokens. Since this will be the way transactions are initially handled on the Gene-Chain, it’s the only way for researchers and pharma labs to access genomic profiles in the Gene-Chain Marketplace until a future release of the App. As the Development Team continues to enhance the Gene-Chain functionality and UX, our original ERC-20 based DNA tokens (DNA, eDNA), Ethereum (ETH) and other ETH based tokens will be accepted as forms of payment in the Gene-Chain Marketplace. Those tokens may be purchased anytime at market price, but may not be used to purchase data until a future release of the App.
To learn how to buy Bitcoin (BTC), Ethereum (ETH) or Lite Coin (LTC) on Coinbase click here.
To see a list of exchanges and DNA coin pairings, click here.