What is Harmony and how to exchange ONE coin at the best rates
Harmony

Harmony

 ONE

Bitcoin, the first cryptocurrency, was launched in 2009 introducing Blockchain technology. Blockchain as an emerging technology is an attractive investment option for businesses and organizations. However, many blockchain-based projects introduced could completely change the financial industry. One such project that you might be aware of is Ethereum, with its native cryptocurrency Ether (ETH).

However, in this article, we will discuss a much newer and perhaps a better-decentralized blockchain platform known as Harmony. Harmony ONE coin is its native cryptocurrency and you’ll be able to make an instant and no-KYC Harmony swap if you keep with us until the end of this piece.

Harmony Exchange Rate

ONE by TradingView

What is Harmony ONE coin?

Harmony ONE coin is a proof-of-stake token, a native cryptocurrency of the Harmony platform. ONE offers low-fees, low-latency, and high-throughput with the goal to create an open and fast network of all nodes. Launched in June 2019, Harmony consensus platform was designed for a decentralized economy in the future. Harmony aims at tackling the issues faced in other blockchain platforms through the use of the best research and engineering practices in an optimally tuned system.

The technical focus of the Harmony project is on secure staking and resharding with decentralized randomness. At the same time, this project promises to the investors access to an ecosystem that would be adopted by different industries, with the main focus on decentralized marketplaces, data sharing, supply chain tracking, credit rating systems, ad exchanges and gaming.

In practice, Harmony will help organizations and companies to create marketplaces for fungible token usage, such as energy credits or loyalty points, and non-fungible assets, such as digital assets for a game. Moreover, Harmony uses zero-knowledge proofs to allow data sharing without compromising on safety and security.

Everything you need to know about Harmony ONE Coin

The Harmony platform is powered by Harmony ONE coin, which is the platform’s very own cryptocurrency. ONE coin allows users to participate in the ecosystem and serves as a payment method for performing many different actions on the platform. Using the Harmony blockchain platform, businesses and developers can easily create alignment in the goals and incentives of various stakeholders.

The Harmony ONE coin is designed to have the following three functions within the Harmony protocol:

  • Paying for storage, transaction or gas fees on the Harmony platform.
  • Staking for the consensus model, allowing stakeholders to earn block rewards and incentives as they make sure the network runs smoothly without any issues.
  • Enabling voting rights for on-chain governance.

Harmony started the migration process of ONE coins from the Ethereum and Binance blockchains to its own blockchain in January 2020. This was necessary for the purposes of staking and on-chain governance. Moreover, users now have to swap their BEP-2 (Binance) and ERC-20 (Ethereum) crypto coins for native ONE coins if they wish to participate in governance, staking, or any other activities on the Harmony blockchain network.

Moreover, the price of Harmony ONE coin is low right now. As the Harmony blockchain platform shows potential, the demand for ONE coin could go up and so could its price value. This means that Harmony ONE coin could prove to be very profitable for both crypto investors and crypto traders.

Key Features of Harmony

Harmony is a fast and secure blockchain platform with key innovations in peer-to-peer networking and state sharding. With the help of secure proof-of-stake and decentralized randomness, the network achieves optimal cross-shard routing and fast block propagation. While preserving user privacy, Harmony applies zero-knowledge proofs for data sharing.

In simple terms, these features help Harmony to get rid of structural limitations that prevent crypto coins from becoming genuine digital currencies. Harmony stands out because of its higher transaction throughput. Other blockchain platforms can only achieve similar performance gains by compromising on other features. Moreover, Harmony’s consensus protocol aims at achieving speed and energy efficiency.

How to make a profitable Harmony Swap?

Harmony swap is very easy once you find the right exchange platform. Follow the below-mentioned steps if you want to get Harmony ONE coin on Swapzone:

  • Select any crypto you have in the “Send” section and specify the total amount that you want to exchange.
  • Select ONE (Harmony) in the “Get Up To” section.
  • Review the exchange options that appeared on your screen. The best-priced options will be on top of the list.
  • Select the exchange option that you wish to proceed with
  • Enter your wallet details to receive the cryptocurrency you have chosen.
  • Copy the generated address and confirm your deposit, make sure that the amount of the deposit matches the amount you specified on Swapzone.
  • Wait for the Harmony swap to be processed by the exchange option and then wait for the exchange to be completed. Now you are a Harmony holder!
  • Please, provide feedback and rate the exchange partner. This will help Swapzone gather more information and help future users.

Why is Swapzone the best place to swap Harmony?

Swapzone acts as a crypto exchange aggregator. Users get access to all the required information that will help them perform exchange transactions while showing real-time, fixed and floating exchange rates. As already mentioned, exchange options with the best rate are listed at the top, this makes it easier for users to find the best deal on Swapzone.

Moreover, users get access to different helpful tools that are only available on Swapzone. With a visually comfortable and easy-to-use interface, you can easily perform crypto swaps including Harmony swap.

Popular pairs to convert Harmony

Frequently asked questions

What is the Harmony exchange rate?

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An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

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Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

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Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store Harmony?

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To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

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There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

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Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

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Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.