HEX - a bridge cryptocurrency for DeFi

Low transaction fees and high interest rates on deposits - these are the main features of the HEX cryptocurrency. Do you need anything more to increase its value? Probably not, but it still has a lot of advantages thanks to which it enters the top cryptocurrencies in the world. The 6414% increase in the price within 12 months must be quite impressive.

We are continuing the cycle of the Forex Club portal, in which we analyze and describe the largest, most valuable, most interesting, most developing, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for HEX - a cryptocurrency that combines almost all the latest developments blockchain technology.

How the HEX token works

HEX is an ERC20 token designed and launched by Richard Heart on the web Ethereum. He is relatively young, even for the world of cryptocurrencies, because he was created on December 2, 2019. The token was given to the owners of the Bitcoin UTXO set at the level of block 606227. For each Bitcoin 10 thousand. HEX units. You could apply for them only one year after the project was launched. It was also possible to get tokens on the Ethereum network by interacting with the HEX smart contract. One year after its launch, all HEX coins that have not been picked up by Bitcoin holders are distributed to other HEX users.

The assumption is that it is to be a deposit security on the traditional finance market and support the operation in the DeFi ecosystem (decentralized finance) in cryptocurrencies in the Ethereum network. It is on the basis of this network that all HEX transactions take place by sending and receiving HEX tokens, as well as interacting with the HEX smart contract. However, the consensus code is separate and constitutes a HEX Smart Contract, which makes the project independent.

How to make money on HEX?

Many supporters of cryptocurrencies and blockchain technology are simply counting on an increase in the price of their cryptocurrencies. But with HEX, you can also use other, more reliable possibilities. Among other things, you can block your tokens in order to issue new coins. The longer the blocking period and the greater the amount of blocked coins, the greater the reward is for the stacker. However, if he finishes his investment early, he will receive a financial penalty. This obviously affects the price increase by blocking as many tokens as possible for as long as possible. In order not to lose, it is enough to be patient, which, however, is not a common feature in the cryptocurrency market.

HEX is much safer than Bitcoin, because you do not have to transfer coins to any intermediary during the transaction. In this case, they are stored in the smart contract until all conditions of the smart contract are fulfilled. Only after their fulfillment, the tokens are transferred to the recipient - without an intermediary. Trading fees are very low and inflation is virtually non-existent. They are interest-bearing "deposits", thanks to the use Blockchain Certificate of Deposits (CD). 

HEX quotes

As of December 30.12.2020, 12, the HEX token can be traded on 0,008593 cryptocurrency exchanges from around the world. You have to pay USD 283 for it, and there are over 566 billion units on the market, out of the target 953 361 982 8. With a daily turnover of over USD 2,4 million, this gives a capitalization of USD 17 billion and XNUMXth place on the list of the largest cryptocurrencies in the world . 

The peak of trading took place on November 1, 2020, when you had to pay USD 0.015241 for each HEX token. Despite the fact that today the price is much lower, during the year HEX tokens increased their value by an exorbitant 6414%. In December 2020, they made up for the last declines after the record-breaking November and went up by 100%.