What is Hive Coin? Hive Coin (HIVE) is a highly scalable Blockchain project that offers various web3 applications. In this article, you can find answers to frequently asked questions such as what is Hive Coin, what it offers, what is HIVE, and how to get it. As Kriptokoin.com, we have prepared it for you. Let’s examine the project together.
What is Hive Coin?
Hive Coin, launched in 2020, is a web3-based Blockchain project that enables decentralized information sharing. The project includes various information sharing applications. These applications allow users to directly access various services such as data, transactions, records and API. These web3 applications allow the network to appeal to diverse audiences such as content creators, investors, and consumers. The native cryptocurrency of the project is HIVE.
The project is designed to generate long-term passive income through staking and to store content with large file sizes. There are over 126 web3-based applications on the platform. Users must have HIVE to access these applications. The platform has developed a special wallet where HIVE tokens can be stored and used. Besides, another important service offered by the project is the Hive Fund. Through this fund, users can find capital for their projects. Offering high scalability, the platform completes the transactions within a few seconds.
What is HIVE? What is it used for?
HIVE is a token that works as the native cryptocurrency of the Hive Coin platform. The cryptocurrency also acts as a governance token. HIVE holders can vote in decision making on the development of the platform. They can also initiate a vote by bidding the community on the issues they want to change on the platform.
It is necessary to have HIVE to access various web3 applications such as HiveBlog offered by the platform. In addition, it is necessary to acquire the token in order to benefit from the fund service offered by the project. Transaction fees are paid with HIVE for the platform to process high speed transactions. The platform, which also provides users with staking, makes it possible to earn passive income. By purchasing the HBD stablecoin, HIVE holders can lock these assets for a certain maturity. Users can earn additional token rewards at maturity.
What are the advantages?
- Hive Coin users can earn token rewards at maturity by staking their HBD stablecoins with a certain maturity.
- Web3 project offers more than 126 applications. HIVE owners can access these applications that offer a variety of web3 services.
- The platform offers extreme scalability. Even cross-border cryptocurrency transfers are completed in a matter of seconds.
What are the disadvantages?
The most common mass among blockchain users includes profit-oriented investors. The distance of the Hive Coin project to the decentralized finance (DeFi) space may cause it to reach a limited audience. The platform only generates income from stablecoin staking, and this does not happen with high interest rates.
Keeping HIVE assets in virtual wallets increases the likelihood of cyber attacks. This issue can be resolved by moving assets to a hardware wallet. HIVE has high volatility similar to other cryptocurrencies. Assets with high volatility experience a wider range of price volatility.
How to get Hive Coin?
In order to buy Hive Coin, you must first be a member of a crypto exchange where the token is listed. Among these exchanges, Binance, Huobi Global, Gate.io stand out. Users who fully subscribe to the exchange and deposit a fiat currency such as dollars or lira in their wallets can purchase HIVE.
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