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Hedera Hashgraph (HBAR) distinguishes itself as a third-generation public ledger by employing a unique consensus algorithm known as Hashgraph. This sets it apart from traditional blockchain technologies utilized by most cryptocurrencies. This innovative approach allows nodes within the Hedera network to communicate efficiently, reaching consensus on transaction validity without the need for extensive computational power. As a result, Hedera can achieve significantly faster transaction speeds and improved scalability. This makes it an appealing option for major tech companies like Google, IBM, Boeing Co. and T-Mobile. These industry giants recognize the potential of Hedera’s robust infrastructure to support decentralized applications (dApps) and services, driving interest and investment in its ecosystem.
Hedera Hashgraph has faced scrutiny due to concerns about its security and perceived centralization, yet the fact that major tech giants like Google and IBM have partnered with it lends credibility to its technology. Learn more about Hedera Hashgraph’s technology and how to buy HBAR token today.
Contents
- How to Buy Hedera (HBAR)
- 1. Open an Online Account
- 2. Deposit Funds Into Your Account
- 3. Purchase Hedera (HBAR)
- 1. Open an Online Account
- What is Hedera Hashgraph?
- Brief History of Hedera Hashgraph
- Where to Buy Hedera (HBR)
- How to Store HBAR Safely
- Trade, Sell or Convert Your HBAR
- Current Crypto Prices
- Is Hedera a Good Investment?
How to Buy Hedera (HBAR)
To purchase Hedera Hashgraph (HBAR), follow these simple and easy steps:
1. Open an Online Account
Hedera Hashgraph is slowly growing in popularity within cryptocurrency exchanges. More and more exchanges are offering it on their platforms as this project continues to develop. Choose a reputable exchange that supports trading of HBAR. Popular options include Coinbase, Binance and Crypto.com.
To get started, you will need to create an account in your chosen trading platform. Opening an account is easy using your email address or phone number. Verify your account by providing the required information and documents.
2. Deposit Funds Into Your Account
Once the verification process is complete, you can now onboard money into your account. Most platforms allow you to deposit money via bank transfer, debit card or credit card. If you choose a bank deposit, you’ll typically need to link your bank account by providing relevant details. This may involve verifying small test deposits for security. For debit or credit card transactions, simply enter your card information and follow the prompts to complete the transaction. Be sure to review any fees associated with your deposit method, as they can vary significantly between options.
3. Purchase Hedera (HBAR)
Once you have successfully set up a funded and verified account, you’re ready for the final step: placing a buy order for HBAR. Start by navigating to your portfolio. Use the search feature to locate Hedera Hashgraph (HBAR). Once you’re on the Hedera page, enter your desired purchase amount. After that, click to execute the trade. The HBAR will be credited to your portfolio and you will receive a confirmation email.
What is Hedera Hashgraph?
The creators of Hedera Hashgraph see blockchains as an old and inefficient system. They believe that the use of a nonlinear chain ensures fast and efficient transactions. To improve the old ways of a blockchain, the Hedera Hashgraph team created its own Hashgraph consensus algorithm. This method of consensus uses a gossip protocol to create a nonlinear chain. The nodes send transaction information to one another and then the receiving nodes pass that information on, again and again to reach a consensus between the nodes to verify a transaction.
The transaction information includes the transaction created and a digital signature from the wallet. Unlike a blockchain, it includes the timestamp of the transaction, a hash string identifying the last message the node received and the message that node is sending out. This is what replaces the linear nature of traditional blockchains. Connecting these messages by including the hash of the message before allows the nodes to know the history of transactions.
This verification method is what allows the Hedera Hashgraph network to run an estimated 10,000 transactions a second. Bitcoin (BTC) and Ethereum (ETH) can only run around 3 and 12 transactions per second, respectively. These cryptocurrencies are Hedera Hashgraph’s largest competitors which sacrifice transaction throughput for security and decentralization.
This significant difference in network power also comes with much cheaper transaction fees at an average of $0.001 per transaction and less energy consumed at about 0.0017 kilowatt-hours per transaction. This efficiency is probably the most enticing part of Hedera Hashgraph, as big tech companies need high transaction throughput at a low cost. Hedera Hashgraph’s ledger technology is already being used for things like tracking the COVID-19 vaccine’s temperature-controlled supply chain.
Hedera HBAR) is the native cryptocurrency of the Hedera Hashgraph network.
Brief History of Hedera Hashgraph
The Hedera Hashgraph network was initially funded in 2018 through its initial coin offering (ICO). It was developed by the company Hedera in Dallas, Texas. Cofounders Leemon Baird and Mance Harmon are both experienced technology developers and entrepreneurs, and the Hashgraph technology is licensed to Hedera through Baird’s company Swirlds.
Hedera Hashgraph publicly launched its mainnet in September 2019, where its native token HBAR was priced at $0.08. From there, the project has struggled to gain attention in the crypto community mainly because of its relatively centralized and private approach to building its network.
The project is controlled by Hedera and large institutions and isn’t open source. On top of not incorporating some of the biggest concepts that make cryptocurrencies so reliable, the network is susceptible to a ⅓ market takeover. The majority of other cryptocurrencies like Bitcoin and Ethereum are susceptible to a 51% takeover, so this ⅓ takeover is a really big hurdle the Hashgraph network may not overcome.
However, in the past month, HBAR has been making some major price fluctuations. After the release of the COVID-19 vaccines, the National Health Service worked with Everyware, the digital asset-tracking service built on the Hedera Hashgraph network. This service was only implemented in select facilities in South Warwickshire, England, but gained Hedera Hashgraph international recognition.
Where to Buy Hedera (HBR)
When looking to buy Hedera, consider reputable cryptocurrency exchanges like Coinbase, Crypto.com and Binance. A cryptocurrency exchange is a platform, either in app or desktop format, that enables users to execute buy and sell orders for various cryptocurrencies.
earn free crypto
securely through Coinbase’s
website
Coinbase is one of the largest cryptocurrency exchanges by trading volume, serving customers in over 100 countries and supporting hundreds of crypto coins and tokens. The platform features a user-friendly interface with options like staking and earning, as well as a “learn and earn” feature where users watch educational videos and answer questions to earn crypto assets. Trading fees can be high on the basic platform, but users can access the advanced platform for free.
Best For
- Coinbase is best for beginners because of its user-friendly interface.
- The availability of over 30 products caters to the needs of traders of every mindset.
- Coinbase offers a learn and earn program.
- You can earn coins and tokens by watching tutorials and answering crypto-related questions. This platform lets you earn crypto just by spending your fiat via a debit card as you normally would when you use Coinbase’s Visa debit card.
- Offer a wide variety of altcoins.
- Ideal for new investors.
- Complicated fee structure
- Does not support margin trading (only 3x on Pro version)
get started
securely through Binance’s
website
Binance is the largest cryptocurrency exchange in the world by trading volume. In fact, it tops the ranks of cryptocurrency exchanges maintained by CoinMarketCap, which are ranked based on 24-hour trading volumes, exchange score and average liquidity. Binance triumphs over exchanges like Huobi Global and Coinbase, which follow closely in 2nd and 3rd places, respectively.
Previously based in Malta, the Binance Group is now based in the Cayman Islands. Binance has several locations and entities registered across the globe. In the United States, it’s known as Binance.US. The exchange in the U.S. uses the same cutting-edge technology and trading services as its global counterparts with the difference being U.S. regulatory compliance. It is operated by San Francisco-based BAM Trading Services.
Binance.US ranks 9th on CoinMarketCap’s list of the top 10 exchanges based on metrics like 24-hour trading volume, exchange score and average liquidity. Binance could be a good platform for you to invest in cryptocurrencies if you are a U.S.-based trader who trades frequently, doesn’t intend to pay high trading fees and needs access to a large number of cryptocurrencies.
Best For
- US Citizens
- Frequent day traders
- Users interested in Binance Smart Chain (BSC) and Binance Coin (BNB)
- Low trading fees
- Easy-to-use platform
- Wide selection of altcoins — it offers 51 cryptocurrencies apart from Bitcoin (BTC)
- Good customer service
- High liquidity because of large trading volumes
- Only residents of 43 states in the U.S. can trade on Binance.US. You cannot trade on this platform in New York, Connecticut, Hawaii, Texas, Vermont, Idaho and Louisiana
- Despite the wide selection of altcoins, the number of tokens offered on the U.S. platform is not comparable to the hundreds of choices available on the Binance global platform
- There is no option for telephonic customer support
get started
securely through crypto.com’s
website
Crypto.com strives to make cryptocurrency a part of everyday life by offering a full suite of services for crypto users. The company offers a Crypto.com App, Exchange, Visa Card, DeFi swap, DeFi Wallet, DeFi Earn, Crypto.com Price, staking, crypto lending, and many other services. What really sets them apart, however, is the combination of super low fees and incredibly generous rewards programs for their users.
Best For
- Traders who want access to a secure, low-cost cryptocurrency exchange
- Passive investors who want to earn interest on their balance without frequent trading
- Mobile investors who prefer to handle all their crypto needs via their phone or tablet
- Low fees
- High security
- One-stop shop for all your crypto needs (wallet, trading, spending, and more)
- Lots of ways to earn interest, rewards, and rebates
- Low privacy
- Customer service response time could be improved
How to Store HBAR Safely
You have two options when storing Hedera: hardware wallets and software wallets. The first is a physical device designed to store cryptocurrency private keys offline. The latter is a digital application that run on devices such as smartphones, computers or tablets. They store cryptocurrency private keys online or on the device’s storage.
- Best Hardware Wallet: Ledger
buy now
securely through Ledger Hardware Wallet’s
website
Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.
With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.
Best For
- ERC-20 tokens
- All experience levels
- Easy to set up and use
- Supports more than 1,500 different digital assets
- Tamper proof
- Portable
- Long-lasting battery
- Bluetooth connectivity features
- Can be quite pricey
Ledger is one of the most popular and trusted hardware wallet companies available. The Ledger Nano X hardware wallet offers optimal security for your private keys while also being easy to use. It can connect to devices with Bluetooth to access the Ledger app. This allows you to transfer funds through your device to the Ledger wallet. Like any hardware wallet, it is important to physically protect the device from random occurrences like flooding or fires that could destroy it and erase your private keys.
- Best Software Wallet: Binance
Binance offers a top-of-the-line trading platform and digital wallet service to protect your crypto. Your individual wallet is insured against potential problems with Binance but isn’t insured against personal issues with the cryptocurrency wallet. The wallet is accessible from anywhere with Wi-Fi and is integrated with the Binance exchange for ease of use.
Trade, Sell or Convert Your HBAR
Different platforms offer a wide range of finance functions to give its users full access to the financial power of crypto. With this, there are a lot of different ways to acquire HBAR. Selling your HBAR is the same process of buying it but in reverse. For any investor looking to hold or trade HBAR it is always smart to limit the amount of transactions needed so you can avoid unnecessary fees.
Current Crypto Prices
With a market capitalization of over $2 billion, Hedera is ranking in the top 50 cryptocurrencies based on market cap. During the beginning of 2021, it jumped 1,250% in 3 months but has struggled with the downturn of the recent altcoin market. HBAR has lost nearly 90% of its all-time high (ATH) value. In the past week, the token saw a 13% decline. It’s a fairly small coin with a lot of potential, so extreme price fluctuations should be expected.
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Is Hedera a Good Investment?
Hedera Hashgraph doesn’t have a strong following with the crypto community because it’s not nearly as decentralized as many of its competitors. Without the support of big organizations, it wouldn’t nearly be as successful as it’s been. But, it does have the support of big companies and has a strong development team. These can bring this network to wide-scale implementation.
On top of having the technical potential, it’s still a relatively small project with over $2 billion market capitalization. This amount of money might seem like a lot. But in the crypto world, the crypto parody coin Dogecoin (DOGE) has a market cap of $16.4 billion and the parody coin of that parody coin Shiba Inu (SHIB) has a market cap of $8.9 billion. So, there is still a lot of room for Hedera to grow, especially if it continues to help with big projects.
The post How to Buy Hedera (HBAR) by Sean Carraway appeared first on Benzinga. Visit Benzinga to get more great content like this.