What is Hedera (HBAR)?
Hedera is a distinctive blockchain platform that introduces the hashgraph consensus mechanism, aiming to enhance transaction throughput compared to traditional blockchains. It is open-source and features its own cryptocurrency, HBAR. Beyond its currency capabilities, Hedera supports the creation of native tokens and the execution of smart contracts using Solidity, making it compatible with applications developed for the Ethereum network. The foundational technology of Hedera is designed to provide a high-performance, secure blockchain environment through a proof of stake protocol, distinguishing itself with a focus on efficiency and scalability. The platform initiated its journey with a series of Simple Agreement for Future Tokens (SAFT) sales starting in December 2017, targeting a range of participants from insiders to accredited investors. This phase was crucial for the platform's development leading up to the launch of its genesis block on September 13th, 2019. Hedera's architecture and governance model are built to offer a robust framework for a variety of applications, setting it apart in the crowded cryptocurrency ecosystem.
How to buy Hedera (HBAR)?
Here's how to buy Hedera on Coinsquare
To buy Hedera, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying HBAR. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select HBAR from the list on the trade section
Coinsquare lets you trade HBAR without leaving the app. You can also check the Hedera price and convert HBAR to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the HBAR price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Hedera (HBAR)
Congratulations! You’re now the proud owner of HBAR. You can either HODL or use it to exchange HBAR to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Hedera (HBAR)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Hedera (HBAR) to your portfolio?
Create your account, fund it with spare change and get a little bit of HBAR.
