Holo is the native token of the Holochain platform that aims to create an efficient alternative to centralized systems. In this article, we will explore the process to buy HOT or Holo Tokens; moreover, we’d also discuss the pros and cons of owning HOT and whether it is a good investment opportunity or now.
Table of Contents
- HOT is the native currency of Holochain.
- Holo is a peer-to-peer platform to host decentralized applications created by Holochain.
- It was created to make a new ecosystem around Holochain.
- The platform has over 1000+ developers working and the github has over 28K+ commits.
- Further, you can buy HOT on crypto exchanges such as Binance, 1inch, etc.
What is Holochain?
It is a P2P platform that helps to host decentralized applications created by Holochain. Holochain applications connect user devices directly to one other using secure networks, rather than relying on servers. This combines the autonomy and availability of locally installed software with the power and redundancy of cloud software, giving consumers the best of both worlds. As a result, application developers no longer need to maintain and pay for cloud hosting.
What is Holo Token (HOT)?
It is the primary currency token of Holochain. It is an ERC-20 coin, which means it is based on the Ethereum platform. It can be exchanged 1:1 with Holo fuel. HoloFuel is the internal micro currency. It helps to power the Holo Hosting network. You can do microtransactions with this.
Also Read: Where and How to buy ENJ (Enjin Coin)?
HOT is currently ranked 67 in the market. According to the data on 28th November 2021, The Stats are given below.
- Holotoken Market cap: $2,565,911,305
- Holotoken Daily Volume: $235,804,157
- Holotoken Market supply: 172,895,870,443.363
Where to buy Holo token (HOT)?
How to buy HOT on Binance?
HOT is available on various platforms. Today we will be showing you how you can buy it from Binance. Read our Binance review to know more about the platform.
- First, head over to Binance and log in. If you are new to binance, create an account, it’s free and quick.
- Head over to BUY CRYPTO and select credit/debit card.
- You will land on a page where you’ll find a section called ‘BUY CRYPTO.’ In the coin section, select USDT and enter the amount of USDT you are willing to buy.
- Click on Buy USDT and enter your card details. Congrats, you’ve now bought USDT that we will be using to purchase HOT. It will take a little time to reflect on the Wallet, so you don’t have to panic.
- You can now go to Wallet>Fiat and spot to check your balance.
- Now we’ll be trading Your recently purchased USDT to buy HOT. Go to Trade>Classic.
- You will land on a page where you’ll see the buyers and sellers on the left, the graph in the middle, and the coins on the right.
- Go to the search bar on the right side, search hot, and select HOT/USDT from the results.
- Now, if you scroll down a bit, you’ll see two boxes for buying HOT and one for selling them. On the buying section, enter your desired amount of USDT that you want to spend to buy HOT and click on BUY HOT. Your purchase will reflect in your Wallet instantly.
How to buy HOT on 1inch network?
- You must have a wallet like metamask, Coinbase wallet, trust wallet to keep your coins.
- Head over to 1 inch website or to the app if you are using your mobile.
- In the trade section, you will find two modes: simple and classic. Choose one of those.
- Click on the connect wallet button on top right and choose your wallet.
- Select a token from the drop down menu. Put your input coin in you pay section and select HOT in the you receive section.
- Give permission to swap and then click on swap token.
Why should I invest in Holo?
Investing in a cryptocurrency has its share of cons, the greatest being the highly volatile value. Although if we keep all the cons aside, there are many reasons why Holo tokens can be an excellent investment.
- As HOT is based on Holochain, a peer-to-peer network, there is no risk of a third-party middleman intervening.
- Investing in HOT means you are also investing in HOLO. The interface is encrypted and safe to invest in, so your transactions will be very secure.
- Holo is trying to establish an ecosystem and a marketplace, and DApps control those. These are native apps of the hosting platform, so everything is very seamless.
- Safety is also assured by Mutual accountability, which means, like any other blockchain, many miners have proof of your payment secured by cryptography.
- The network is collaborative, growing, and safe. Holo Tokens were trending and predicted to develop even more as the market expanded.
Also, Read: A Beginner’s Guide to On-Chain Analysis
Holo Token Price
The price of Holotoken fluctuates from time to time, just like any other crypto. You can get a better idea from coinmarketcap.
Is it Safe to buy Holo?
In the world of cryptocurrency, safety always becomes a big concern. Holo has been created to work as the bridge between centralized internet and Holochain. Like any other blockchain, the Holochain is also encrypted with cryptography, so you can count on it when it comes to security.
HOT is a great place to invest if you are new to the crypto market. The Holochain provides you the facility and security just like any other blockchain. The interface is seamless, thanks to their native network and ecosystem. Most importantly, it has a very high ceiling considering they are going for a brand new ecosystem. However, it is wise to do your research and consult some experienced person before you invest.
Frequently Asked Questions
Is HOT secured?
What is the transaction fee of HOT?
Where can I buy HOT?