How to Buy Holo (HOT) in 3 Simple Steps

How to Buy Holochain

You can purchase Holochain online using a cryptocurrency exchange. This is the easiest way to buy and sell cryptocurrencies—all you need is a computer or mobile device. See below for our top picks of platforms that offer Holochain and simple steps to buy Holochain.

1. Choose a platform

If you want to buy HOT, you will need to start by finding a broker or exchange that offers it. You’ll find that each has different features, so make sure your chosen platform has everything you want. You can see a comparison of the best platforms later in this guide, or simply sign up now with our top recommendations just below.

2. Create and fund your account 

Once you have selected a platform, navigate to the registration page and fill in your personal information. Regulated platforms are likely to ask for additional documentation such as a photo ID and proof of address. Once your account has been verified, you can make a deposit of one of your local fiat currencies with any payment method your platform accepts.

3. Buy Holochain (HOT)

Search the trading pairs on your platform and find the one for HOT and the fiat currency you just deposited. Fill in a buy order with how much HOT you wish to purchase. Make it a market order if you want your HOT straight away, or a limit order if you want to specify a future price to buy HOT at.

What Is Holo?

Holo is a distributed cloud hosting platform that describes itself as the Airbnb of cloud hosting—that is, Holo lets people use their own computers to provide cloud hosting services and create an extra source of revenue.

Holo is designed to host and provide access to peer-to-peer applications built using Holochain (Holochain Apps), an open-source app framework that doesn’t rely on servers or blockchains. Holochain provides transparency, security, and accountability, making it suitable for a range of use cases, including collaboration, energy grids, and designing currencies.

The Holochain network will be powered by HoloFuel, which app publishers will use to rent data storage and compute power from hosts. The HoloToken (HOT) is an Ethereum-based cryptocurrency that functions as an IOU which holders will be able to redeem 1:1 for HoloFuel upon launch.

Ways to Invest in Holo

HOT can lend itself to different types of investing, whatever your skills and goals. You could invest in HOT for the short term or the long term—it’s simply a matter of preference.

Buy and hold Holo

Purchasing HOT and holding onto it is a very simple strategy that anyone can follow. There is no need for laborious analysis and people who follow this strategy commit very little time or effort in return for potential profit.

HOT cannot be staked, but once HoloFuel launches, HOT holders will be able to swap their tokens for it and use HoloFuel to pay for services on Holo.

Best Holo wallets

You may wish to self-custody your HOT tokens in a private wallet. This means that you don’t need to rely on a centralised service to access your tokens, and private wallets can provide a bit more security.

People holding onto a large number of HOT tokens for a long time often opt for hardware wallets such as Trezor, BitBox, or Ledger. These are very secure but often costly and technical. Those who have smaller holdings or want to access their HOT tokens more often will likely choose a software wallet, which is easy to use and can be downloaded for desktop or mobile for free.

Trade Holo

The volatility of HOT price means that the token also lends itself to trading, that is to say, it is possible to buy and sell HOT more frequently to generate more regular returns. This requires a much bigger commitment in terms of time and effort, as well as more skill.

Transferring tokens out of a private wallet every time you want to trade HOT could be cumbersome. As such, traders often prefer to use more convenient web wallets. Some cryptocurrency exchange platforms tend to provide their users with a web wallet for free.

Should I Buy Holo Tokens Now?

Only you can make this decision when it comes to committing your own money, but make sure to inform yourself about Holo first. As HOT’s main function is as an IOU for HoloFuel, its value will likely be influenced by the future demand for HoloFuel.

The primary use of HoloFuel will be as a means for app publishers to pay Holo hosts for their services. This means that as more apps launch on Holo, requiring more computation and storage, demand for HoloFuel will increase.

The global cloud computing and hosting market is already worth billions of dollars and has become an important part of our daily lives. The transparency Holo brings to this industry and the opportunity for anyone with a computer to participate could see it become the next big thing in cloud-based services.