TheRedSwan

How to Buy HBAR a Step by Step Guide


Buy HBAR token, hedera hashgraph aka HBAR buying guide, Alt coin HBAR buying guide, exchanges to buy HBAR in India, how to buy HBAR in India, Hedera Hashgraph Buying Guide

Introduction to HBAR

Hedera Hashgraph (HBAR) launched in 2018, they proudly claims they are the 3rd generation of public ledger. They Astonished the whole market by introducing the newly created Algorithm known as Proof-of-Hashgraph.

So instead of using Blockchain like many other tokens, Hedera Hashgraph run on its in-house Hashgraph algorithm. This algorithm uses nodes which communicates with each other to form an agreement on weather a transaction is valid or not.

HBAR in its initial days got too much negativity regarding its security that they are less secure network, but its a slap for all those as Google and IBM are comfortably using HBAR.

The Proof-of-Hashgraph algorithm enables HBAR to reach 10,000 transactions per second. But at the same time BTC and ETH can only run upto 3-10 transactions per second, respectively. And they are the competitors of Hedera Hashgraph but we can easily see that there aren’t any competition.

This network transaction speed also helps in reducing power consumption, which in a way reduces the cost of the network. Hence we can see why transactions done over HBAR network costs only about $ 0.001 which is insanely low. This is where Hedera Hashgraph wins the bet as big companies need huge amount of data to be transacted at low cost which they are getting here.

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What are the parameters to be considered before buying HBAR

Before investing in any asset, it is important that you do a thorough research on the project that you are going to invest you hard earn money, here are few parameters which I think can effect the price of HBAR

  • Its Algorithm i.e. Proof of Hashgraph : As they caim to be the 3rd generation of public ledger, before that the community has seen blockchain evolving year by year. However HBAR is the only crypto currency which is not using Blockchain at all. Out of all negativity in the market it is to be noted that the transaction fees of HBAR is less than $ 0.0001 USD and the speed is around 10,000 transactions per second
  • Use case of HBAR: Hedera Hashgraph can be used for smart contract deployment, executing transactions and storing data. Coin holders can stake their coins for secure economic functioning of the network (refer hbar economic paper for detail)
  • Governance: Unlike others here voting rights are not with the token holders instead its direction is decided by a council of dedicated 39 members (refer figure 1)from around the world who are expert in their fields. They represent a diverse range of business sectors to ensure decentralised decision making.
buy hbar
Figure 1: Hedera Hashgraph Governing Organisations

How to Buy HBAR (Hedera Hashgraph)

As the coin is getting popular day by day more exchanges are listing HBAR on their platform to offer it to their customers. Currently the most reliable exchange to buy HBAR is Binance.

Binance is the largest cryptocurrency platform for trading tokens and they are more secure when compared to others, through its Secure Asset Fund for users. It offers good rate as it has maximum volume as compared to other platform.

You can buy HBAR ob Binance in simple steps.

Step 1: Create your account on Binance exchange – Sign Up with Binance and fill in the required details there, chose strong password for your crypto wallet and never share it with others. Try to write it down somewhere like use Last Pass like extensions to remember your password as it is almost impossible to recover your wallet password. Protect your account with 2FA i.e. 2 factor authenticator, it will provide an extra layer of security.

Step 2: Complete your KYC Verification – Know your customer is mandatory verification of a client’s identity by financial institutions. In this process you need to submit various documents specified by the institutions that can be used to verify your identity. Do all this under Profile tab and there select identification option from the dropdown menu.

Step 3: Deposit funds into your Binance Wallet – Login to your binance account, proceed to add Funds into your wallet. You can directly deposit FIAT currency to your wallet or you can transfer your existing cryptocurrencies as well. Other methods of depositing funds and buying cryptocurrencies are to buy them directly through Bank transfer or through P2P transfer from your bank.

Step 4: Buy HBAR on Binance – Once you have transferred your fiat currency into your binance wallet it will get reflected in few minutes, once it shows your balance in your wallet, you can start purchasing ;). You have now 2 options either you can chose new method of buying P2P from any of the listed sellers or you can chose the traditional way and go for express option and enter the amount you want to buy HBAR.

Once the transaction is completed HBAR will start reflecting in your wallet. Hurray!!! you have purchased your HBAR successfully

Conclusion

As you can see buying HBAR is not that difficult if you know all the steps and have money in your account. But please invest only that much which can not disturb your sleep and your mental peace. And never ever depend on crypto investing or trading advices, as its your hard earn money so please do 100% your own research about the project you are going to invest and then put money there.

Please chose exchange wisely as there are exchanges which collapses suddenly and no body knows what happened. So try to go with popular exchanges who have huge volumes of traders. Chose Exchange by seeing their Volume of traders, Popularity and Security they ensure.

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3. Ethereum Fundamental Analysis
4. You should know about Ethereum 2.0

FAQ on How to Buy HBAR

Where to Buy Hedera Hashgraph aka HBAR in Indai?

There are exchanges in India who have listed HABR, below are few of the exchanges:
1. Binance
2. Changelly
3. WazirX
4. OkCoin
5. Coinbase

Should I keep HBAR in personal Wallet?

Yes I would advice to keep all your crypto tokens in your personal wallet. In this way you can provide an extra layer of security.

Will Hashgraph replace blockchain in future?

This is quite debatable but yes it may be possible because of the speed and accuracy provided by Proof of hashgraph algorithm is beyond imagination for projects running on proof of work or proof of stake. But the only issue is its decentralisation.
One more thing about Hashgraph is its more environment friendly compared to others.

Which crypto currency uses Hashgraph?

HBAR is the native token by Hedera Hashgraph

Disclaimer: This is just writer's personal view on the topic with his/her limited knowledge. It is just shared for educational purpose. This post is not meant to give any kind of financial advice to any of its reader, Please do your own research before landing on any conclusion. If you disagree or find anything which is misleading or inappropriate in the above post, then please reach out to us at via our contact page and we will definitely work on it.
Sources: 
1. HBAR Economics paper
2. Binance exchange

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