Buy HEX (HEX) with Credit or Debit Card with Lowest Fees

What is HEX (HEX)

HEX describes itself as the original Certificate of Deposit blockchain project. It emulates traditional certificates of deposits issued by financial institutions such as banks. The project currently runs as a decentralized app deployed on the Ethereum ecosystem. It is also built to facilitate the transfer of value, capable of facilitating 2,000 transactions/second.

HEX is an ERC-20 token, and the primary way to acquire it is to first own ETH and convert it. HEX token holders agree to lock up their tokens for a specific time period. In return, the system gives out rewards and occasional bonuses. By staking, users remove HEX from the available supply, and the shortage increases the price.

Who created HEX (HEX)?

Richard Heart —a flamboyant businessman with a lavish lifestyle—is the person behind the HEX project. According to his personal website, he owns nearly $5 million in watches and the largest uncut diamond.

Due to his unorthodox approach to life, many have questioned his antics and even claimed that he is building a giant pyramid scheme that will come crashing down.

Richard has claimed that his mission remains to help people win in the cryptocurrency market. He also tries to help prevent cryptocurrency scams by publishing YouTube videos warning his followers about impending crashes, predicting the prices of popular coins, and even recommending the best way to store their digital assets  — which entails choosing a cryptocurrency wallet that provides complete control of the private keys.

Advantages and disadvantages of HEX

HEX has the following advantages both as a network and potential investment asset:

• The token can be easily exchanged on ETHHEX.com for stablecoins and other cryptos;
• Most of the liquidity is held in the USDC stablecoin, which offers some relative stability in the price movement, and allows the HEX price to fluctuate independently of other coins;
• HEX code is publicly available for developers to independently review and find bugs;
• Within two years of the project's launch, the price has risen by over 9,000 percent;

Some of the drawbacks associated with the project include:

• The project has attracted negative attention to the point of being labeled as a scam and borderline Ponzi scheme.
• While the price has significantly increased, there have been frequent price drops, making the cryptocurrency risky to invest in.
• Users have to contend with high gas fees on the Ethereum network incurred every time they send HEX.

HEX smart contract

Smart contracts are understood as applications deployed on a decentralized blockchain. The contract executes various functions once certain conditions are met. So, what is the HEX smart contract, and how does it work? It's a smart contract deployed on Ethereum. Its main function is to replicate certificates of deposit (CDs).

Traditionally, users deposit some cash into the bank for a fixed duration, such as one year. Their principal is guaranteed, and they earn some interest on the deposit. After the fixed time ends, the customer receives the principal amount plus interest.

The Hex smart contract similarly employs the Time Deposit methodology. It is implemented by the staking mechanism, where users stake HEX for some duration. After the time runs out, they earn the original stake with rewards. The HEX contract permits emergency or early unstaking, but users may be penalized.

FAQ

Why buy HEX?

Anyone can consider purchasing HEX for the following reasons:

• Earn rewards and bonuses: Users can stake their tokens for a specific time to acquire rewards in the form of HEX;
• Trading HEX and participating in decentralized finance: HEX is highly compatible with a wide range of Defi protocols as it adheres to ERC standards. Users can easily swap ETH to HEX on a decentralized exchange such as Uniswap.

Is HEX a good investment?

There are several reasons to justify investing in HEX, for instance, its early performance, growing popularity, and unique staking approach. The price has generally trended upwards.

However, it doesn't enjoy the same level of stability or trust as more established networks with real-world use cases. The best investment advice is to conduct personal research and keep track of any developments that could negatively or positively impact the project.

Is HEX reliable?

Despite drawing heavy criticism, the project has not suffered any incidents, such as attacks where hackers have stolen tokens. The HEX website has also recorded 100% uptime and availability. The project is built to never stop operating as it is deployed as an immutable smart contract on Ethereum that does not require any upgrades.

What transaction fees HEX has?

Users may be required to pay transaction fees when they send HEX with ETH. However, holding and receiving HEX is free. Additional platform fees may apply when purchasing tokens from cryptocurrency exchanges, ATMs, or brokerages. Paying with a card or bank transfer may be subject to processing fees.

Where else can I store HEX tokens besides the Metamask wallet?

Hex tokens may be stored on various wallets compatible with ERC standard tokens. Some suitable cryptocurrency wallets include:

• MyEtherWallet (MEW) - Users can download its Android or iOS app or use the online wallet version.
• Freewallet.org - Our platform will recommend suitable software wallets from freewallets.org during the purchase process;
• Ledger hardware wallet - The company provides several hardware wallets compatible with HEX. A hardware wallet is a physical device not connected to the internet hence referred to as an offline wallet.

Can I buy HEX with a credit card?

Using a credit card is viable to buy HEX crypto. Changelly partners with reliable on-ramp sellers to process credit card transactions made with MasterCard or Visa cards. The confirmation time is instant. However, the transaction fees may be a little bit higher compared to bank transfers.

Can I buy HEX with debit card?

Use a debit card to buy HEX coin on Changelly.com. The steps are similar to completing the purchase using a credit card. We recognize that financial security is paramount, and that's why all our third-party vendors are highly trusted platforms.

Can I use a prepaid card to buy HEX?

Buy HEX cryptocurrency using a virtual or physical prepaid card. Most of our partners accept all the popular network cards. For instance, as long as the card belongs to Visa or MasterCard, it can be generally processed without any issue. The payment procedure is also quite similar to using debit or credit cards.

Is there a fee when buying HEX with a credit or debit card?

Yes, standard card processing fees may apply. The fees will differ depending on the vendor selected to process the transaction and the buyer's registered country. Typically, card processing fees range from 1.5 to 4%. These charges are no different from fees charged by online merchants for other purchases.

Can I buy HEX with a bank transfer?

Yes, and the payment method affords buyers several advantages. It often attracts lower transaction fees at about 1% compared to credit card payments that, on average, incur processing charges of nearly 3.5 to 4%. If the vendor supports instant transfer banking (Interac, Trustly, etc.), it can be quite fast.

Can I buy HEX by App?

It's an accomplishable task, but it's vital to choose a trusted mobile application developed by a reputable crypto platform. The app should also have real and verifiable reviews from actual users. Changelly has its own iOS and Android mobile app. Over 100k users have downloaded it, with a near-perfect score rated by thousands of reviewers.

Can I purchase HEX (HEX) with Paypal?

The PayPal app allows users to buy, hold and sell cryptocurrencies. However, the app mostly supports popular cryptos such as BTC, USDC, & ETH. The world's largest crypto exchanges don't currently support the payment gateway, including Changelly's payment partners. It is challenging to use it to deposit funds and acquire Hex network tokens on a cryptocurrency exchange.

How quickly will I receive HEX after purchase?

The HEX platform is built to process transactions faster than Bitcoin. Based on standard processing times, most customers on our platform receive tokens within five to 30 minutes after the purchase is complete. However, the transaction may take a longer time due to incidents such as network congestion.

Can I buy HEX with other fiat currencies?

Changelly partners with up to four fiat-to-crypto vendors that can process over 100 local currencies from all over the globe. During the transfer, the local currency may be automatically converted to USD or EUR. It's recommended to either have a USD/EUR bank card to save on any slight conversion losses.

Can I sell HEX for USD?

Selling HEX for USD is entirely possible, and there are different approaches to take. It may be necessary to convert HEX to ETH before cashing out. Finding individual sellers on P2P platforms is also an option. Changelly allows users to instantly exchange HEX to ETH and cash out through our partnership with Mercuryo.

Can I stake my HEX tokens?

Staking HEX tokens is the underlying method used by the platform to facilitate time deposits.  Consequently, users receive rewards after locking up their tokens for a fixed duration. The process of staking HEX directly is quite simple, and anyone can participate regardless of how many tokens they have.

Visit go.hex.com/stake/, connect your Metamask wallet, and specify the stake length & amount. Wait for the specified time to elapse and earn the principal stake plus rewards and bonuses.

Can you get HEX for free?

Try the following strategies to earn HEX for free:

• Staking: Purchase Hex directly, and connect to the Hex staking portal by providing a metamask wallet address.
• Reward programs: Some reward programs may offer the HEX token directly. Hex users can also participate in programs that payout in BTC, which may be swapped for ETH before conversion to HEX.