Where to Buy HBAR: A Buyers Guide for Hedera
Hedera Hashgraph, founded in 2018, is a decentralized public network that aims to offer faster and more secure transactions than traditional blockchain technology. HBAR is the native cryptocurrency of the Hedera network. As with any cryptocurrency, it’s important to know where to buy it safely and securely. This article will provide a comprehensive guide on where to buy HBAR and how to store it safely.
What is Hedera Hashgraph and HBAR?
Hedera Hashgraph is a distributed ledger technology that uses directed acyclic graph (DAG) instead of blockchain. It was created by Leemon Baird and Mance Harmon as an alternative solution that they claim is faster, fairer, more secure, and more energy-efficient than blockchain-based systems.
HBAR is the native cryptocurrency of Hedera Hashgraph network. It can be used for a variety of purposes such as payment for transactions on the network or staking to secure the network.
Importance of knowing where to buy HBAR
Knowing where to buy HBAR is essential if you want to enter into the world of crypto or if you are already invested in other cryptocurrencies but want to diversify your portfolio by adding some HBAR tokens. With so many exchanges available today, it can be overwhelming trying to decide which one is trustworthy and offers good fees. Additionally, while buying cryptocurrencies can potentially lead to great returns on investment, there are always risks involved in investing your money into something volatile like crypto markets.
Therefore choosing reputable exchanges becomes even more important when investing your hard-earned money into digital assets like HBAR. In the following sections, we will take a look at some of the popular and lesser-known exchanges for buying HBAR, factors to consider when choosing an exchange, how to buy HBAR on Binance, and best practices for storing your HBAR safely.
Popular Exchanges for Buying HBAR
If you’re looking to buy HBAR, a good place to start is with one of the popular exchanges. These exchanges are well-known and have a large user base, which means there will be plenty of liquidity for trading. Here are some of the top exchanges for buying HBAR:
Binance
Binance is one of the most popular cryptocurrency exchanges in the world and offers trading in over 100 cryptocurrencies, including HBAR. The exchange has a user-friendly interface that makes it easy to buy and sell cryptocurrencies, even if you’re new to trading.
To buy HBAR on Binance, you’ll need to create an account and complete the verification process. Once your account is set up, navigate to the HBAR trading page and place an order for however much HBAR you want to buy.
Kraken
Kraken is another popular cryptocurrency exchange that offers trading in a variety of coins, including HBAR. The exchange has been around since 2011 and has built a reputation as one of the most secure exchanges in the industry.
To buy HBAR on Kraken, you’ll need to create an account and complete the verification process. Once your account is set up, navigate to the HBAR trading page and place an order for however much HBAR you want to buy.
AscendEX (Formerly BitMax)
BitMax is a relatively new cryptocurrency exchange that launched in 2018 but has quickly gained popularity among traders. The exchange offers trading in over 60 cryptocurrencies, including HBAR.
To buy HBAR on BitMax, you’ll need to create an account and complete the verification process. Once your account is set up, navigate to the HBAR trading page and place an order for however much HBAR you want to buy.
OKEx
OKEx is a Hong Kong-based cryptocurrency exchange that offers trading in over 100 cryptocurrencies, including HBAR. The exchange has a robust trading engine that can handle up to 1.5 million orders per second. To buy HBAR on OKEx, you’ll need to create an account and complete the verification process.
Once your account is set up, navigate to the HBAR trading page and place an order for however much HBAR you want to buy. Each of these exchanges has its own unique features and benefits, so it’s worth taking the time to research them before deciding which one to use for buying HBAR.
Lesser-Known Exchanges for Where to Buy HBAR
Liquid: The Secure Exchange
If you want to buy and sell HBAR securely, Liquid is the perfect exchange for you. This platform is known for its high-end security features, which include cold storage of funds and two-factor authentication.
Additionally, Liquid has a user-friendly interface that makes it easy to navigate even for first-time users. It supports multiple cryptocurrencies, including HBAR and major fiat currencies such as USD and EUR.
MXC: The High-Performance Exchange
MXC is a popular cryptocurrency exchange known for its high performance and fast trading speeds. It offers a range of advanced trading tools including limit orders, stop-loss orders, and market orders. MXC also has low trading fees making it ideal for buying large volumes of HBAR without incurring substantial costs.
Hotbit: The Futuristic Exchange
Hotbit is an innovative cryptocurrency exchange that prides itself on being futuristic in design and function. It boasts an ultra-modern interface with user-friendly features that make buying HBAR smooth and straightforward. Hotbit also provides ample security measures to protect users’ funds from theft or hacking attacks.
Gate.io: The Global Exchange
Gate.io is an international cryptocurrency exchange that operates in several countries worldwide, including the US, Japan, Korea, Russia, among others. It supports a broad range of cryptocurrencies besides offering various trading pairs with fiat currencies such as USD or EUR. Gate.io also prioritizes the privacy of its users by offering anonymous trading options where one can trade without submitting any personal information.
these exchanges are less-known but still reputable options to buy HBAR compared to some more prominent ones like Binance or Kraken. Each one has unique features suited to different types of traders/investors so it’s essential to choose the one that best suits your needs.
Factors to Consider When Choosing an Exchange
Choosing the right exchange to buy HBAR can be a daunting task, especially for new investors. When selecting an exchange, you need to consider a number of factors to ensure that your investment is safe and secure. Here are some factors you should consider when choosing an exchange:
Security Measures
Security should be your top priority when choosing an exchange. You want to choose an exchange that takes security seriously and has measures in place to protect its users. Look for exchanges that have two-factor authentication (2FA), SSL encryption, cold storage, and other security features.
Trading Fees
Another important factor to consider is the trading fees charged by the exchange. Different exchanges have different fee structures, and these can vary depending on the transaction type and volume. Some exchanges charge flat fees per transaction, while others charge a percentage of the transaction amount.
When selecting an exchange, it’s important to consider how the fees will affect your investment returns. You don’t want to pay more in fees than you stand to gain from your investment.
User Interface and Experience
The user interface and experience of an exchange can greatly impact your trading experience. A poorly designed or complicated interface can make it difficult for you to navigate the platform and execute trades effectively.
Look for exchanges with user-friendly interfaces that are easy to navigate even if you’re new to cryptocurrency trading. Additionally, opt for platforms with helpful features like real-time market data or price charts.
Availability in Your Region
It’s important to select an exchange that is available in your region or country. Some exchanges may have restrictions based on location or regulations in certain countries.
Before investing on any platform, confirm whether they are allowed in your jurisdiction or country. If not available locally, check whether there are alternatives supported within your area before settling on a specific option.
How to Buy HBAR on Binance (Step-by-step guide)
Are you ready to start investing in HBAR? Binance is one of the most popular exchanges for buying and trading HBAR. Here’s a step-by-step guide on how to buy HBAR on Binance.
Create a Binance account
First things first, you’ll need to create an account with Binance. Head over to the official website and click on “Register” at the top right-hand corner of the page. You will then be asked to enter your email address and create a password. Once you’ve completed this step, you will need to verify your email address by clicking on a link sent to your inbox.
Complete the verification process
Once you’ve created an account, there are some verification requirements that must be met before buying HBAR. Verification involves submitting personal information such as legal name, date of birth and government-issued ID proof for KYC (Know Your Customer) regulations.
Binance has different levels of verification that offer different deposit and withdrawal limits. For basic verification, which allows deposits up to 2 BTC per day or equivalent value in other cryptocurrencies, simply follow the instructions provided by Binance under Account Verification section in Account Dashboard.
Deposit funds into your account
Once your account is verified, it’s time to fund it with cryptocurrency or fiat currency such as USD or EUR through bank transfer or credit/debit card payment options offered by Binance. The funding options available may differ depending on where you live or if you have completed higher level verifications. It’s important that you understand any fees associated with funding options before making any purchases since they can vary from no fees at all for certain cryptocurrencies like Bitcoin(BTC)to varying percentage based fees based on funding method.
Navigate to the HBAR trading page and place an order for HBAR
Navigate to the Binance homepage and click on “Trade” at the top left-hand corner of the page. From there, select “Convert” from the dropdown menu and search for HBAR. If you want to buy HBAR directly using fiat currency, choose your desired pair (ex: USDT/HBAR) under Convert To(HBAR) option.
Once you’ve selected your preferred trading pair, enter the amount of HBAR you want to buy or USD amount or select market order depending on how much price control you desire. Double-check all details before clicking “Buy”.
Your purchased HBAR will then be added to your Binance wallet. Buying HBAR is not a complicated process when using Binance.
Just create an account, complete the verification process, fund it with cryptocurrency or fiat currency via available options offered by Binance and finally navigate to trading page and place an order for HBAR. Make sure that you understand any fees associated with funding options before making any purchases since they can vary from no fees at all for certain cryptocurrencies like Bitcoin(BTC)to varying percentage based fees based on funding method.
Storing Your HBAR Safely: Wallet Options and Best Practices
Hedera Wallets (Desktop, Mobile, Ledger Nano S)
When it comes to storing your HBAR safely, you have a few options. Firstly, you can use the official Hedera wallets.
Hedera offers both desktop and mobile wallets that are free to use. The desktop wallet is available for Windows, Linux, and Mac OS X, while the mobile wallet is available for both iOS and Android devices.
Another option for more advanced users is a hardware wallet like the Ledger Nano S. This device provides an extra layer of security by keeping your private keys offline and away from potential hackers or malware. You can store many different cryptocurrencies on this device at once, including HBAR.
Third-party wallets (MyEtherWallet, Trust Wallet)
Aside from Hedera-specific wallets and hardware wallets, you can also use third-party wallets to store HBAR. MyEtherWallet (MEW) is one such popular option that allows you to store not only Ethereum-based tokens but also other cryptocurrencies like HBAR.
Trust Wallet is another popular option that supports a variety of cryptocurrencies including HBAR. It’s a mobile wallet that’s easy to set up and use with a simple user interface.
Best practices for securing your wallet
No matter which type of wallet you choose to store your HBAR in, there are some best practices you should follow to ensure its safety: – Use two-factor authentication: Two-factor authentication adds an extra layer of security by requiring a second verification step after logging in with your password.
– Keep your private key secure: Your private key gives access to all of the funds in your wallet so it’s crucial that you keep it safe. Consider storing it offline or using a hardware wallet.
– Backup your wallet: In case anything happens to your device, it’s important to have a backup of your wallet. Make sure to follow the specific instructions for backing up your chosen wallet.
– Keep your wallet software up to date: Developers regularly release updates to improve security and fix bugs, so make sure you keep your wallet software updated. Following these best practices will help ensure the safety of your HBAR and other cryptocurrencies.
Key Takeaways: Where to Buy HBAR
After buying your HBAR coins from any of these exchanges mentioned above, it is essential to store them safely in a crypto wallet. Hedera offers wallets for desktops and mobile devices as well as Ledger Nano S hardware wallets which are known for their high-security level.
Third-party wallets like MyEtherWallet and Trust Wallet are also suitable options provided they support HBAR tokens. Whichever wallet you choose for storing your tokens should follow best practices for securing crypto assets.
Use strong passwords that mix characters like uppercase letters & lowercase letters together with numbers or special symbols e.g., @#%!. Also avoid using the same password across multiple platforms.
Final Thoughts
HBAR is a promising cryptocurrency given its unique consensus mechanism called “hashgraph.” The coin has already gained significant momentum among investors worldwide who have been eyeing up its growth potential over time. As new blockchain technology emerges on market many investors are looking at more than just Bitcoin these days. Overall, it is essential to consider various factors before buying HBAR from any of the exchanges mentioned above.
Always remember to research the exchange security measures, trading fees, user interface and experience, as well as availability in your region. Always store your HBAR safely in a crypto wallet following best practices to avoid any losses or hacking attempts.
