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What is Hex crypto?


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Occasioned by the increasing number of crypto projects, assets and other innovations rocking the sphere, it has now grown to become a global industry. Today, the crypto space has cemented its place as one of the leading industries across the globe. Despite the market volatility associated with the sphere, its level of popularity and adoption still grows daily. As of today, investors across the globe harness cryptocurrencies in almost all the countries of the world. However, the manner in which these assets becomes harnessed differs depending on the individual agenda of investors. Irrespective of how investors harness cryptocurrencies, their most popular function, including Hex crypto is to serve as a medium of payment and investment, thereby relegating the traditional approaches to doing these things.

Notably, as the industry continues to grow bigger, its crypto projects increases, thereby availing users with numerous options. The implication of this is that investors are able to decide which asset to invest or subscribe to in line with their respective objectives. Undoubtedly, one of those crypto assets is the HEX crypto.

Just like other forms of cryptocurrencies, the Hex crypto remains one of the available crypto assets available for investors to explore within the sphere. With this article, new and existing investors will learn more about the rudiments of the crypto project, its background, and potentials.

A general overview of Hex crypto

Launched in late 2019, HEX crypto is an ERC-20 token on the Ethereum blockchain. According to findings, the token manifested as a replica of the Certificate of Deposit (CD). According to findings, the CD serves as an investment instrument availed by commercial banks to investors. Here, investors rake in higher interest rates for keeping their funds without withdrawing for several years.

HEX, as a replica, is designed to pay interest to participants who lock their tokens through a stake. However, Hex tends to offer higher interest rates than a CD. More so, it eradicates banking fees, thereby making it a decentralized cryptocurrency. According to its website, “HEX has no central entity, no bureaucracy, and no overhead. There are no bonuses awarded to anyone outside of the users who Stake HEX. As a simple to use, high-yield investment tool, HEX makes you the bank.” As a store of value, it grossly relies on Ethereum to facilitate its transaction layer. Just like other notable crypto assets, it possesses a smart contract, enveloped with its consensus code and staking mechanism.

The foundation of Hex crypto

Without any doubt, the founder of Hex crypto is Richard Heart. According to findings, he has previously spent many years working on the theory of the project before finally building it in 2019. More so, the Hex crypto project was reportedly launched in phases and took a year to come into full light.

In the first phase, Hex crypto was offered to Bitcoin holders as airdrops. The holders reportedly acquire the tokens freely or convert BTC into Hex using the Adoption Amplifier. In the subsequent phase, a 1-tier referral programme materialized to onboard more users. According to the project website, about 300,000 BTC in about 30,000 different addresses minted their own Hex with its smart contract. At the final phase of the launch, all unclaimed Hex crypto became distributed to the staking class.

Owing to its robust marketing strategies, crypto experts previously labeled Hex crypto as a scam. Then, the experts warned investors from subscribing to it. Now, the project proved them wrong after running for about three years ago without any issues.

Features of Hex

A distinctive feature of the Hex protocol is that it champions a full decentralized system. Users can sign up for the protocol for free to enjoy a secured peer-to-peer transaction on the blockchain. This implies that the Hex protocol operates without the assistance of intermediaries. The protocol leaves users at the affair of gaining rewards, allowing them to mint their rewards themselves whenever they pull out their stakes. The central idea of the project is the termination of a central system, authority, or group of individuals. Logically, the team wants an even distribution of HEX without giving room for a centralized authority.

Additionally, the Hex offers a flexible posture to its holders. The structure of Hex aids users in staking their HEX token for an amount of a new Hex crypto. Notably, the nature of the Hex crypto and its flexibility encourage price growth. Additionally, it shuns decisions that can affect the token price to dip. Unfortunately, in that regard, things haven’t gone as planned, as the price of the token is still struggling to gain much relevance.

Yet, Hex crypto offers a good investment return for investors. It usually rewards investors awesomely for staking a huge amount of Hex for an extended period. However, the protocol chastises investors for pulling out their stakes early. With that, the Hex smart contract has encouraged investors to hoard the token against panic sales.

Market performance of Hex crypto

For the market performance of Hex crypto, the token has done relatively well, and to some extent, it has shown a reasonable level of Volatility. Undoubtedly, Hex crypto falls into the category of token that has a sharp response to the current market situation. Overtly, Hex crypto has reacted to marketthe situation by following the general price trend in the cryptocurrency.

Just like every other token in the cryptocurrency space, Hex crypto recorded its all-time high on November 16, 2021. During this period, Hex crypto landed at the lucrative $0.5561, and community members and investors were hopeful that the coin would hit $1 before the end of its Bullish run. Unfortunately, the intruding Bear market didn’t wait to let Hex crypto hit this hallmark price.

An interesting note to pick about the price performance of Hex crypto is that the coin hasn’t endured any tangible price dip independently. The credibility of Hex crypto is speaking for it already. The token plunge in value is a result of the crypto winter, which reflects that Hex crypto hasn’t recorded any turbulent period on its own that could lead to a price fall.

Above all, the token has an all-time 20749.69% of ROI which pose interesting figure for a token that came into existence in 2019. Utility issue could be a major problem that could hamper the growth of Hex. Yet, it’s understandable that the project is an emerging one which makes it a good investment opportunity for investors.

Hex crypto and Its battle against inflation

Hex helps to give investors an advantage over inflation. According to the team, Hex has a lower inflation rate than Bitcoin. The team claims that Hex inflation dropped by 3.69% within the first year of its existence while Bitcoin struggled to achieve the feat in its tenth year.

Hex runs as a system that allows stakers to pay the price to aid inflation. This consequently keeps the price of the token soaring. Those who stake Hex crypto are bound to earn high than the inflation rate. At the moment, less than 10% of Hex are staked. This is due to the 3.69% inflation attached to the total token in circulation. Its imperative to note that inflation gives more price advantage for investors who staked Hex crypto. For them, inflation is a price-enhancing mechanism, not a cost.

Meanwhile, the payment for Hex’s inflation often comes at the end of a stake. On numerous occasions, staking Hex crypto often runs for a period of 15 years. This ideology helps keep the Hex inflation rate at a low rate. This is because inflation are paid on minted tokens, and a token can only be minted at the end of a stake.

Basically, this system has helped Hex crypto to enjoy price stability. Most times, investors become enticed by the rewards of inflation payments. These rewards encourage investors to hoard Hex crypto for a long time and shun market pressure to sell.

The future of Hex

Hex crypto strongly oppose trading as it encourages investors to hold them for a reasonable time. In fact, the system structure of the Hex crypto ecosystem often penalizes investors for pulling out too early. However, this approach will positively impact the price of Hex crypto. Firstly, it will offer price stability and allow minimal volatility. While the price of Hex Crypto may not fall significantly, the token is designed to increase gradually in value.

Therefore, it’s imperative to note that only long-term investors will find Hex crypto as a lucrative means of investment. The signs are there, and there are strong indications about the good ROI of Hex crypto. Nevertheless, a notable disadvantage of acquiring Hex crypto is that a market crisis could occur during the staking period.

During that period, investors would be handicapped to cut their losses and pull out their investments. Eventually, if they do, a penalty awaits investors who pull out their stakes at an early stage. This could spell a double loss for investors, as the market crisis would have drawn the value down. Leaving the penalty to strike the final blow. The future remains bright for Hex crypto, but investors must make more findings before investing in the token.

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Olaleye Komolafe
Olaleye Komolafe
Olaleye is a professional reporter with vast experience in web3, cryptocurrencies, and NFT journalism. He enjoys writing about the evolving metaverse sphere and the prevalence in the crypto sphere. Notably, some of his contents have been published in numerous international publications. Away from the crypto world, Olaleye is a political scientist and a lover of football

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