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 take a look at the project together.
What is Hive Coin?
Launched in 2020, Hive Coin is a web3-based Blockchain project that enables decentralized sharing of information. 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 attract various 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 apps 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 great scalability, the platform completes transactions in seconds.
What is the HIVE? What is this for?
HIVE is a token that functions as the native cryptocurrency of the Hive Coin platform. The cryptocurrency also acts as a governance token. HIVE holders can vote in decision-making processes on the development of the platform. They can also initiate a vote by proposing to the community the issues they wish to modify on the platform.
It is necessary to have HIVE to access the 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 funds service offered by the project. Transaction fees are paid with HIVE for the platform to process transactions at high speed. 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 upon maturity.
What are the advantages?
- Hive Coin users can earn token rewards at maturity by staking their HBD stablecoins with a certain maturity.
- The Web3 project offers more than 126 applications. HIVE owners can access these applications which offer a variety of web3 services.
- The platform offers extremely high scalability. Even cross-border cryptocurrency transfers are completed in seconds.
What are the disadvantages ?
The most common audience among blockchain users includes for-profit investors. The distance of the Hive Coin project from the decentralized finance (DeFi) space may cause it to reach a limited audience. The platform only generates revenue from stablecoin staking, and that does not happen with high interest rates.
Keeping HIVE assets in virtual wallets increases the likelihood of cyberattacks. This problem can be solved by moving the assets to a hardware wallet. HIVE has high volatility similar to other cryptocurrencies. High volatility assets experience a wider range of price volatility.
How do I get hive coins?
To get 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 fiat currency such as dollars or liras in their wallet can purchase HIVE.
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