HEX cryptocurrency claims to be the first cryptographic token to utilize the common financial instrument of “Certificates of Deposit” (CDs). Commercial banks offer CDs as a way to pay higher interest rates to those who deposit their savings in the bank. To offer this, banks lock up the funds for set terms, be that 3, 6, 12-month or even 10 year timescales. These “term” or “time” deposits give higher interest yields to investors, as long as they have faith that the bank itself won’t collapse.
What is HEX Crypto?
HEX is an ERC-20 token that started as a free airdrop to bitcoin holders, and invites new investors to buy and deposit HEX tokens on time-locked staking contracts with the promise of exponential rewards. The interest rates on offer are staggering, and early investors in HEX (which started in 2018) have made significant returns on their investment, with the price of the token rising 2700% in a single year.
What Does HEX Crypto Do?
However, beyond its aggressive marketing campaigns and sloganeering, it’s difficult to pin down a utility for the token except for the fact it offers increasing returns as new investors are brought onboard. HEX launched in 2019 alongside many similar coins, but unlike many of those currencies, it has continually grown in value as more and more users are compelled by the incredible returns offered. If you, dear user, want to time-lock or did time-lock your HEX stake within the smart contract, then your returns up to now have been shatteringly good. The trick is wondering whether the bubble may burst.
It leads to a puzzling picture and one that crypto novices and experts alike are often forced to tackle. The fundamentals seem ambivalent at best, the marketing seems shrill, but the gains keep on coming for those involved. There is indeed some precedence for a cryptocurrency to offer CDs akin to the way a central bank does on the promise that they, like a centralized bank, can put your money to better work than you can and offer a return, but it seems somewhat interesting as to what HEX’s claims to such blockchain authority are, and the fear remains that old investors are being paid out with the money of the new.
Put a Spell On You
Yet stranger things have happened in Crypto. Remember Dogecoin made national news and we’ll all be using it when we settle on Mars. So perhaps it’s unfair to write off HEX as just another coin with little value. If the returns keep being paid out to investors in the project, perhaps it will stumble across some utility on the way – but proceed with caution.
Is HEX Hard to Get?
If you are new to the world of digital assets then getting cryptocurrencies can be a confusing prospect. It may be a bit simpler with the top two Bitcoin or Ethereum, but what about that lesser known Ethereum token, such as HEX, that you have heard so much about?
Numio is a great choice for HEX. With Numio you can send and receive your stored HEX instantly and at the touch of a button. If you want to try something a bit more advanced you can use Numio to trade and swap HEX.
Download Numio to get HEX
How can I get HEX?
Getting HEX is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for HEX*, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as a payment. Whatever way you choose you can be sure that you are always in full control of your HEX.