How to Exchange Bitcoin to Hex at the Best Rates?
HEX coin was released in 2019, and since then its value has been appreciated greatly in the market. The HEX token went up 79 times compared to Ethereum, 92 times compared to Bitcoin and 115 times compared to USD in just 129 days. That is some serious movement up the ladder for HEX considering that it took BTC over 7 good years to go up by 2,000,000 times and ETH 2½ years to go up by 10,633. HEX surged in value by more than this in just 129 days.
What is Hex (HEX)?
Hex is a financial tool meant to supplant Certificate of Deposit (CD) and it was launched as an ERC-20 standard token on December 2, 2019. HEX is also meant to be a store of value, a blockchain alternative to the financial product utilized in the traditional financial industry.
Let us understand how Certificates of Deposit (CDs) are used in the traditional financial market to understand how HEX is aiming to replace that setup.CDs are provided by traditional financial institutions and they mostly have a bit better interest rate than what you will get on your checking or standard savings account. However, there is a condition to get them: to access this better interest the customers are required not to withdraw the money deposited. The general rule is that you shouldn’t touch the funds for either one, three, or six months depending on the length you want to go for. At times the length could reach up to ten years. The deposited money is government-guaranteed and CDs offer the chance to earn a bit more interest on unutilized funds minus the risk of the market. In markets outside the United States, CDs are mostly called time or term deposits.
Coming back to HEX, it is built in a way to reward token holders who stake their HEX coin with interest on their stake. HEX was created and released by Richard Heart and his aim was to make HEX the blockchain’s version of Certificate of Deposit. Some even dubbed it the first high-yielding Certificate of Deposit on the blockchain. Unlike the traditional banks, HEX supplants traditional fiat currencies and payment networks for their inefficiencies with a more secure p2p, verifiable technology that hands users total control over their funds.
As per reports, staking on HEX is very rewarding and the ERC-20 standard ensures that the token is highly secured and interoperable. HEX is built in a way to take advantage of the Defi ecosystem that is mostly based on the Ethereum blockchain.
Hex vs. Bitcoin
Due to the fact that HEX is based on the Ethereum chain, it is faster than Bitcoin. It is also able to benefit from Ethereum security and it is able to tap into Ethereum’s more decentralized hashing power. Bitcoin has opposing features, it works by devaluing its price through inflation delivered to miners in the form of new coins. Miners need to sell those coins to fund their mining operation, which means there could be a drop in price if many coins from these miners enter the market at once.
On the other hand, HEX has a code that is open source and immutable with external audits done on its token. CoinFabrik and Chainsecurity did the economy and security audit of the HEX token. HEX is compatible with a wide range of Ethereum wallets both hot and cold wallets. That concludes our Bitcoin HEX review.
Ethereum’s Keccak-256 cryptographic hash function
SHA-256 hashing algorithm
Security and economic audit done
Why exchange BTC to HEX?
There are several reasons why traders will want to exchange their BTC for other tokens like HEX. The most common reason why traders do so is to take advantage of the market movement. Let’s take for example HEX experiencing a drastic rise in the market within 129 days that beat even the likes of BTC. Normally, you will expect traders to want to exchange their BTC to HEX to get profit from the price increase before swapping HEX to BTC to consolidate their gain or even swapping to another crypto to further gain in the market.
Another reason why users could exchange BTC to HEX is to get a chance to stake HEX tokens and reap handsome rewards. Or, maybe users buying to key into the long-term gain the token could bring in the future, which means they are willing to hold their token and wait for it to appreciate. They could also stake it while waiting for it to appreciate over the long term.
How to exchange Bitcoin to Hex?
How to get a HEX token? You can get HEX coins from Swapzone, which is a HEX exchange aggregator for the best HEX rate in the market. Before you proceed to select the exchange you want, ensure you know the exact amount of HEX token you want to buy.
Step 1. On Swapzone, you can select any HEX pair from the list of tokens then the site will pull up from all the HEX exchanges.
Step 2. Input the number of HEX tokens you want to exchange.
Step 3. Select the exchange that suits you by clicking on the exchange button.
Step 4. Input the address where you want to receive the HEX token. There is also an option for a refund address, which is the address where the asset you are swapping will be refunded to incase of any issues.
Step 5. Click on proceed the exchange button to carry out the exchange.
Step 6. Rate the exchange and leave a review so that we can improve the service.
FAQ about exchanging BTC to HEX
Why is Hex better than Bitcoin?
According to the HEX protocol founder Richard Heart, HEX is better, safer, and cheaper. It is better environmentally given that Bitcoin has been receiving sticks for high consumption of resources including electricity and the emission it is contributing to the environment. According to Heart, HEX is also more censorship-resistant compared to other tokens. Moreover, BTC holders are allowed to mine HEX while anybody can build on the HEX network.
What is the real-time BTC to HEX exchange rate?
As of August 9, 2021, the real-time exchange rate for BTC to HEX is 1 BTC= 182694.91 HEX
Why is Swapzone the best place to exchange BTC to HEX?
As an aggregator, Swapzone is able to bring you the list of the best Bitcoin HEX exchange deals where you can exchange Bitcoin to HEX. For a site like Swapzone, no registration is required to swap your HEX Bitcoin. This is what makes Swapzone the best place to exchange Bitcoin to Hex.
What are the other options to buy Hex?