How to Buy Hex (HEX) • Benzinga Crypto (2024)

Want to jump straight to how to buy HEX? You can buy Ethereum on Robinhood and swap it for HEX on Uniswap.

HEX (HEX) is an innovative ERC-20 token that aims to redefine the concept of saving by positioning itself as a decentralized alternative to traditional certificates of deposit (CDs). Launched in late 2019, HEX leverages the robust Ethereum blockchain to provide users with a unique investment opportunity that emphasizes value appreciation over time. The project is supported by a dedicated team, and its low entry price can attract savvy investors keen to explore the burgeoning decentralized finance sector. For those new to cryptocurrency investments, the landscape can seem daunting, but resources are readily available to guide you through the process. Learn how to buy HEX safely with our detailed guide and start your crypto journey today!

How to Buy Hex Tokens

Let’s break down the essential steps you need to follow to make your Hex token purchase a success.

1. Create an Account

To purchase HEX, you must first create a cryptocurrency exchange account, whether on a centralized exchange or a decentralized exchange (DEX). The signup process requires you to provide Know Your Consumer (KYC) information, including your date of birth, a photo of your driver’s license and your home address. The verification process typically takes a few days to complete. Once your account is verified and created, it is crucial to securely store your login information.

2. Set Up a Wallet (Optional)

If you plan to trade HEX on a decentralized exchange, you will need a cryptocurrency wallet. The safest way to store cryptocurrency is in a self-custody crypto wallet. This keeps your digital assets out of reach from malicious third parties. Connect your wallet to the platform to swap your crypto assets securely. You can purchase Ethereum on a safe cryptocurrency exchange like Robinhood and swap it for HEX on a DEX like Uniswap.

3. Purchase HEX

Once you've connected your wallet to the DEX, select the amount of ETH you wish to exchange, choose HEX as the receiving token, and execute the trade. Confirm the transaction and wait for it to be processed on the blockchain. Once completed, the HEX tokens will appear in your crypto wallet. You can either hold them or stake them for potential gains.

HEX Overview

HEX is an ERC-20 smart contract launched on Dec. 2, 2019 as the first blockchain equivalent to the traditional certificate of deposit used by major financial institutions. A CD is a product offered by banks and other financial institutions in which the buyer agrees to place a lump-sum deposit in the control of the bank. Investors will leave their deposits untouched for a predefined number of years in exchange for an agreed-upon interest rate.

The HEX smart contract allows token holders to stake their tokens in exchange for a share of the next upcoming HEX minting. HEX’s TruthEngine technology rewards users who stake larger amounts of HEX for longer periods of time and penalizes those who withdraw their tokens before the agreed-upon date. Unlike many smart contracts, the HEX smart contract has obtained two independent security reviews.

Since its launch in December 2019, HEX has seen a return on investment of over 500%. The token reached an all-time high price of $0.5561 on Nov. 16, 2021.Currently, HEX is trading for around $0.001216.

Where to Buy HEX

We recommend investing in HEX by investing in an intermediary cryptocurrency like Bitcoin or Ethereum. As the largest cryptocurrencies on the market, you’ll have plenty of reputable options to buy and sell Bitcoin and Ethereum on trusted U.S.-based trading platforms. From here, you can transfer your BTC or ETH to your chosen crypto exchange, which you can then convert to HEX and transfer to a wallet. This gives you access to the tokens you want to add to your cryptocurrency wallet while also keeping your personal information safe and secure.

Currently, the best place to buy HEX is Uniswap. You will need to purchase some Ethereum to swap for HEX on Uniswap. You can buy Ethereum from Robinhood. Uniswap is a decentralized exchange (DEX), so instead of making an account, you'll need to connect a cryptocurrency wallet to the exchange. The best wallet for interacting with DEXs is MetaMask.

Browse a few of our favorite crypto brokers below to start off your search.

How to Store HEX Safely

Now that you know how to buy HEX, you need to know how to store it safely.

• Best Hardware Wallets: Ellipal Titan

If you’re looking for a hardware wallet that effortlessly combines sleek design with unprecedented security, you should consider the Ellipal Titan hardware wallet. It offers a stylish design and high security for cryptocurrency investors. Its full-color touch screen and user-friendly interface allow for easy access to holdings without an internet connection, while features like a protected production chain and tamper-resistant packaging enhance security.

• Best Software Wallet: MyEtherWallet

MyEtherWallet is a free, open-source software wallet that allows users to quickly create a wallet and connect it to desktop devices via QR codes. It provides real-time access to tokens through its app, available on both Android and Apple platforms. MyEtherWallet supports both Ethereum and any ERC-20 tokens, which means that it can hold everything from HEX to Chainlink. If you’re looking for a free, easy-to-navigate option for your cryptocurrencies, be sure to consider MyEtherWallet.

Trade or Sell Your Cryptocurrency

If your broker is able to fill your order according to your specifications, you’ll see your tokens in your wallet on the exchange. From here, you have two options on how you want to proceed:

• Store your tokens in your wallet: If you plan on holding your tokens for a longer period of time, you’ll want to immediately move them off the exchange and into your private wallet. This provides you with a higher level of security and allows you to track how the value of your investment is changing over time. When you decide to cash out, you can transfer your tokens back to your exchange and convert them to an intermediary currency or stablecoin.
• Actively trade your tokens: If you decide to become an active investor, you’ll take advantage of short-term price changes by trading throughout the day or week. As HEX is a more volatile cryptocurrency, you could have success with this strategy by capitalizing on day-to-day price movements.

If you do plan on becoming an active investor, you’ll need a responsive and intuitive platform. Browse a few of our favorite options below.

Note: These are alternative exchanges that do not offer HEX.

Current Crypto Prices

The cryptocurrency market is infamously volatile. It’s normal to see major price changes on a daily basis — especially when trading smaller cryptocurrencies like HEX. This makes it particularly important to monitor how the market is moving each morning before you start investing for the day.

Below, you can view a summary of how the cryptocurrency market is moving today.

Should You Add HEX to Your Portfolio?

HEX is currently the 3705th largest cryptocurrency when measured by market capitalization. This makes it a small cryptocurrency offering only available on a few select exchanges. It also means that HEX is an exceptionally volatile offering that can reach $0 at any time. If you do decide to invest in HEX (or any minor altcoin) be sure that it only makes up a small percentage of your portfolio.

Frequently Asked Questions