How to Buy Hedera (HBAR) in 3 Simple Steps

How to Buy Hedera

If you’re looking for a simple way to buy Hedera, all you need to do is sign up with a crypto exchange. You can access it online with a computer, smartphone, or tablet to quickly buy and sell Hedera and a range of other cryptocurrencies. The best platforms are listed below as well as a quick step-by-step guide on purchasing Hedera.

1. Choose a platform

First, you will need to find a broker or exchange where you can buy HBAR. Look for a regulated and reputable platform if you want better security for your funds. We’ve included a list of recommended platforms in the table below.

2. Create and fund your account 

Once you have made your selection, create an account by filling in the registration form. Regulated platforms will often ask for additional documentation such as a photo ID before your account can be verified. Next, fund your account by heading to the deposit page and choosing one of the payment options available in your country.

3. Buy Hedera

Search the platform to find the trading pair for HBAR and the currency you have just deposited and create a buy order. You can make it a market order if you want HBAR now at the current price, or a limit order if you would prefer HBAR to be bought automatically once it reaches a specified price in the future.

What Is Hedera?

Hedera is a public network that hosts tokens and applications which benefit from strong security, low fees, and fast transaction times. The network is enterprise-grade, catering to the needs of a range of users, including businesses, start-ups, and global organisations.

Ethereum also hosts tokens and applications, but as it is currently a Proof of Work blockchain, it uses a lot of energy and can’t handle many transactions at once, leading to slow and expensive transactions when the network is busy. Hedera, on the other hand, can handle at least 10,000 transactions per second, with each costing a fraction of a cent and requiring minimal energy.

It achieves this with a unique data structure that goes beyond blockchain called the “hashgraph”. While a blockchain ledger comprises just one chain of blocks that needs to be “pruned” and its growth kept steady to avoid the chain forking into more than one chain, the hashgraph allows more than one block of transactions to be created at once, with all blocks being incorporated into the ledger.

The Hedera Consensus Service provides verifiable timestamps and can be used, for example, to count music streams or track assets on a supply chain. Meanwhile, the Hedera Token Service enables people to create and manage tokens, including non-fungible tokens (NFTs), without using smart contracts. These services are paid for with HBAR, which is also used for staking.

Ways to Invest in Hedera

You may choose to purchase HBAR for the short term or the long term, depending on your particular skills and investment goals. Both options can potentially generate returns and we’ll explore each below.

Buy and hold Hedera

This is the most straightforward of all the investment strategies—you just buy HBAR and keep hold of it for a while. There is a minimal amount of time and skill required to potentially profit from this strategy.

As already mentioned, HBAR can be staked, which means you can use the tokens you’re holding to earn more HBAR.

Best Hedera wallets

A private wallet may be a good place to store HBAR that you’re going to be holding for the long term. This gives you true ownership of your tokens and can provide an extra layer of security.

The easiest wallets to use tend to be free software wallets that you can download onto a computer or phone. If you’re willing to pay, hardware wallets such as Trezor, BitBox, or Ledger will provide the best security.

Trade Hedera

Buying and selling HBAR over shorter timeframes can generate more frequent profits and this is what traders do. Trading requires skills such as analysis and will mean committing more time and effort.

If you opt for this route, you may find a private wallet inconvenient as you will need to move your tokens regularly. A better option may be to store your HBAR in a web wallet, which your exchange will probably provide for free.

Should I Buy Hedera Now?

This is up to you, but make sure you’ve done your research before investing any of your own money. The maximum supply of HBAR is capped and this scarcity could make the token a good store of value in the long term.

HBAR’s utility in Hedera’s Proof of Stake system could be positive for the token’s price as the ability to earn staking rewards drives demand for HBAR, while the staking of HBAR reduces the supply available on the market.

Another driver of HBAR demand is its use as fuel for the network. HBAR is needed to pay for transaction fees, purchase goods and services, manage tokens, log data, and run and use applications. This means HBAR should become more valuable as the network grows to incorporate more applications and users.

The dramatic improvements Hedera provides over Bitcoin and Ethereum in terms of speed, cost, and sustainability already make it an attractive environment for developers and users. Hedera’s impressive scalability and its focus on providing enterprise-grade solutions could see the project become a key tool for global businesses and organisations looking to take part in a more decentralised future.