How and Where to Buy Hedera (HBAR)?
Dr Leemon Baird and Mance Harmon co-founded Hedera Hashgraph in 2018. Dr Baird works as the Chief Scientist for the Hedera project. He has more than a decade of experience in computer science, and his previous role was working as a Senior Research Scientist at the Academy Center by Cyberspace Research. He is also a co-founder and CTO for Swirlds Inc, a DApp building platform.
Mance Harmon is a highly experienced technology executive and entrepreneur with over two decades of executive roles with prominent companies, including IT security firms. Harmon is also the CEO and the other co-founder of Swirlds Inc.
Additionally, Hedera has a strong leadership team with many decades of relevant experience.
In August 2018, the ICO (initial coin offering) helped fund the launch. A year later they opened access to the mainnet (September 2019). Early investors of the ICO could purchase the native token $HBAR at the lowest prices.
“Hedera is the most used enterprise-grade public network for you to make your digital world exactly as it should be – yours. HBAR is the native, energy-efficient cryptocurrency of Hedera that powers the decentralized economy. Whether you’re a startup or enterprise, a creator or consumer, Hedera goes beyond blockchain for developers to create the next era of fast, fair, and secure applications.” – Hedera website
What Is Hedera (HBAR)?
Hedera Hashgraph is a carbon-negative platform that professes to be 10x faster than blockchain alternatives and has consistently predictable gas fees. It’s an enterprise-grade public network for businesses and individuals to create DApps (decentralized apps).
Hedera designed the system to be fair, sustainable, and efficient without the limitations of earlier blockchain-based networks, such as instability and poor performance.
The $HBAR token has two primary roles:
- It helps power Hedera’s core services, like Smart Contracts, daily transactions, and file storage
- Because Hedera uses a PoS (proof of stake) consensus mechanism, $HBAR users can stake their tokens for rewards. Staking helps to secure the network and maintain the integrity of the platform
What Makes Hedera (HBAR) Unique?
Hedera uses a unique distributed ledger technology called Hashgraph. The primary difference between Hedera and other platforms is that Hedera doesn’t build on top of a conventional blockchain, as most cryptocurrency platforms do.
The advanced technology means that Hedera can improve upon blockchain-based platforms. Notably, the essential areas of improvement are:
- Speed – Transactions typically reach finality in less than five seconds
- Cost – An average Hedera (HBAR) transaction cost is $0.0001
- Scalability – Hedera claims that it can process over 10,000 TPS (transactions per second). For perspective, Bitcoin (BTC) and other PoW (proof of work) blockchains are lucky to process 5 – 20 TPS
Most other blockchains can manage to achieve one or two of the above, but at the cost of diminishing performance in other areas. For instance, a blockchain-based platform may have faster transactions than Hedera, but the speed compromises cost or scalability.
The Hedera network offers multiple services, including: –
- Smart contract tools – Enabling developers to build efficient and powerful DApps
- A token service – With a few lines of code, users on Hedera can create and mint NFTs (non-fungible tokens) and fungible tokens on the platform
- A consensus service – Providing a layer of trust for networks or applications requiring a verifiable and secure log of events
- Decentralized file storage – With features like time-based file expiry, proof of deletion, and controlled mutability
How and Where to Buy Hedera (HBAR)?
If you’re a beginner at cryptocurrency, you may wonder where and how to buy Hedera (HBAR). We research the top cryptocurrency exchanges, and in this instance, we recommend Binance.
- Register for an account – Binance adheres to KYC compliance, so registration requires identification documents before you can buy or trade crypto on the platform
- Deposit – You can deposit with cryptocurrency or with fiat currencies via wire transfer, Visa, or Mastercard
- Go to the “Exchange” tab – Look for HBAR/USDT, HBAR/BUSD, HBAR/BTC, HBAR/TRY, HBAR/BNB, HBAR/ETH, HBAR/AUD, HBAR/BRL, HBAR/BIDR or HBAR/RUB as these are the available pairs for Hedera (HBAR)
- Complete the purchase – Now you must store your Hedera (HBAR) in a secure wallet. You can download Binance’s Trust Wallet to your mobile device or sign up for an exchange wallet. Alternatively, you can use an off-ramp wallet that supports $HBAR tokens
How do I Sell Hedera (HBAR)?
On some cryptocurrency exchanges, selling your tokens may seem complicated or confusing. Thankfully, with Binance, you’ll find it an easy process to sell your $HBAR tokens: –
- In your wallet, click on convert and choose a stablecoin like $USDT
- You can transfer the $USDT to an off-ramp wallet. We recommend using Gemini or Coinbase as both have a good range of fiat currency options
- When the $USDT is in your off-ramp account, simply convert to fiat currency and withdraw to your bank account
Should I Buy Hedera (HBAR)?
You probably know that investing in cryptocurrencies is risky, with no guarantees. To that end, we cannot advise on whether you should invest in Hedera (HBAR). It’s best to do some research beforehand and only invest what you can comfortably afford to lose.
If you still want to invest in Hedera (HBAR), the best thing is to purchase from a reputable exchange. Our top three recommendations are Binance, Gate.io, and KuCoin. All three crypto exchanges have a good reputation, good liquidity, wallet options, and a broad range of trading markets and crypto tokens.
How do I invest in Hedera (HBAR)? Safely?
Once you have chosen a reputable cryptocurrency exchange like Binance, KuCoin, or Gate.io and purchased your Hedera (HBAR), the next step is to store your $HBAR tokens securely. If you leave them on an open crypto exchange, they are at risk. We advise choosing a wallet pre-purchase so that when you have completed your $HBAR token purchase, you can store them safely.