The Hedera platform is the premium decentralized trust layer of the Internet and is currently used by thousands of apps. Due to the popularity of Hedera, many crypto beginners have started asking questions like “how to buy Hedera (HBAR)” and “where to buy Hedera.”
If you want to buy HBAR but don’t know where to start, you will learn a lot from this article. We’ll cover the fundamental steps of buying HBAR, as well as some essential topics about the token.
Hedera (HBAR) Buying Guide
Step 1: Find An Exchange That Supports HBAR
To start buying HBAR, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support Hedera.
Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.
- 500+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.075%*-0.1%*
- Sign-up bonus: 10% reduced trading fees*
- Available in Europe, Asia, Oceania, Africa
- 1000+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.2%*-0.2%*
- Sign-up bonus : Up to $500 in USDT vouchers*
- Available in North America, South America, Europe, Asia, Oceania, Africa
Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification.
You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.
Step 2: Deposit Funds to Your Exchange Account
Before buying HBAR, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.
Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.
Step 3: How to Buy HBAR Officially?
Learning how to buy HBAR is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the HBAR ticker. You can also look directly for HBAR trading pairs to save time. Afterwards, just enter the amount of the HBAR tokens that you want to buy.
You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.
Everything You Have to Know About Hedera (HBAR)
Hedera (HBAR) is a powerful decentralized platform that uses a Hashgraph algorithm to execute its services. Through the Hashgraph algorithm, developers can build their projects with relative ease and efficiency. Plus, Hedera’s smart contracts are more secure and functional.
Take a look at the top features of Hedera:
- Fast and efficient Hashgraph system
- Negative Carbon system
- Predictable gas fees (more manageable)
- Energy-efficient platform
- Lots of use cases and linked apps/blockchains
- Active governance
- Fast-growing community
- Hedera tokenization system
Hedera has the potential to reach 650,000 transactions per day. All of these transactions are decentralized, contributing to the growth of blockchain-powered global environments.
How Does HBAR Work?
HBAR, the native token of Hedera, is primarily used for transaction fees within the network. Any user can access a specific app service by paying the respective fees. These fees will circulate to the Hedera network, particularly to the treasury and node accounts.
Users can also stake HBARs to participate in Hedera governance. Stakers will gain token rewards over time, and they can also vote on Hedera proposals. Another way to earn rewards is to commit to proxy-staking. This simply means that token holders can let other nodes use their tokens. Eventually, the nodes and token holders will gain distributed rewards. Proxy-staking is almost the same as token-delegating.
What Makes Hedera (HBAR) Unique?
Hedera is not just a platform meant for basic decentralized transactions. Rather, Hedera is a groundbreaking platform backed by scientific mechanisms and complex algorithms. Some experts believe that Hedera is the best solution for making diverse smart programs. Other experts believe that Hedera’s functionalities will bring blockchains to different levels. In many ways, both sides of the fence are correct.
The most unique thing about Hedera is the Hasghgraph algorithm. This is an advanced protocol that includes all blocks and creates room for exponential growth. In Hedera, no block is ever discarded, perpetuating the process of continuous data validation. Such an advantage means a lot for project builders who want to scale their masterpieces as fast as possible.
The Hedera network is fast enough to reach up to 10,000 TPS – better than what most blockchains can achieve. Even Ethereum can handle only 12+ TPS. Also, users don’t need to worry about Hedera’s average transaction fee of $0.0001.
Using Hedera will also benefit the environment. Hedera has a negative carbon setting, effectively removing carbon footprint by a significant rate.
Who Are the Founders of Hedera (HBAR)?
The founders of Hedera are Dr. Leemon Baird and Mance Harmon. These brilliant individuals have collective experience in numerous fields like computer science, computer security, data science, strategic leadership, and entrepreneurship. Dr. Baird is actually the inventor of the Hashgraph distributed consensus algorithm and Harmon is the current CEO of Hedera.
What Are the Use Cases of Hedera (HBAR)?
Since Hedera is a dynamic distributed ledger platform, it can handle different types of transactions and use cases. Understanding these use cases will help you determine the long-term value of Hedera (HBAR).
Here are the common use cases of HBAR:
- Speculative trading
- NFT marketplace & NFT creation
- Cloud data protection & services
- Stablecoin investment
- Enterprise workflow services
- Payment processing
- Gig economy
- DeFi markets
- Supply chain management
- Asset tokenization
- Carbon offsetting rewards
- Digital identity systems
- Free medical data for all
Who Builds on Hedera (HBAR)?
The Hedera network is designed for project developers, blockchain builders, entrepreneurs, and users who believe in the potential of decentralization. In Hedera, anyone can build anything because of the platform’s wide range of features and services. Hedera also relies on a Hashgraph system – a framework that is more efficient than the regular blockchain. Crypto experts believe that Hedera is the manifestation of a future built on trust.
Official website: https://hedera.com/
Essential Points of the Hedera (HBAR) Whitepaper
The Hedera Whitepaper discussed the principles and mechanisms of the Hedera platform. Additionally, the paper outlined the HBAR tokenomics and its advantages.
These are the strong points of the Hedera (HBAR) Whitepaper:
- The Hedera Hashgraph system
- Hashgraph latency scaling
- Hedera’s security and fairness mechanics
- Hedera governance model
- Signed state proofs
- Hedera’s regulatory compliance
- The layers of Hedera
- HBAR staking and proxy-staking
- Hedera roadmap
The Best Cryptocurrency Wallet for HBAR
After knowing how to buy HBAR, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.
You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.
On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.
What Factors Affect My Choice of Crypto Wallet for HBAR?
At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.
Check out the important factors affecting your choice of HBAR wallet:
- Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade HBAR right away.
- Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
- When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
- Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
- Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.
Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors
Now that you already know how to buy HBAR, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.
When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.
Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.
If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes.
General Market Overview for Hedara (HBAR)
Do you want to learn more about Hedera (HBAR) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!
Additionally, here are some important topics in our blog:
- Trading speculation about Hedera (HBAR)
- The current market prices of cryptos
- Detailed price charts with comprehensive histories
- Whitepaper summaries of cryptos
- Founder profiles and their related works
- Up-to-date cryptocurrency news and developments