What is HEX Crypto?
HEX is a brand new exciting cryptocurrency project aimed at creating the best store of value ever created.
So what really is Hex? As its founder explains, HEX is one part game theory and one part financial instrument. Users / investors are rewarded for holding and staking, similar to a certificate of deposit (CD) but on the blockchain.
HEX holders go to the official HEX website and portal at go.hex.com to start staking their HEX tokens. The longer you stake your HEX crypto, the more HEX you will receive at the end of your stake period. HEX works the same ways as a CD in that if you choose to un-stake your HEX tokens early, you will be penalized. The penalty depends on how early you are ending your stake compared to when you said you would end your stake. Staking locks up a users HEX coins and takes HEX off the market preventing users from selling. Richard Heart, the founder of HEX says HEX has the best game theory in crypto. The decrease in sellers due to staking and a theoretical higher demand over time, should cause an increase in price. Richard claims HEX is “programmed to pump 10,000X!” This is an amazing claim and maybe too good to be but easy to take advantage of at no risk with free claims for all Bitcoin holders at the snapshot date.
Update 4/26/2020: HEX is now one of the top (if not the top) performing crypto assets of 2020. HEX tokens increased in price 57X in 108 days.
How to Buy HEX Coins
There are 3 main ways to get your hands on HEX tokens: Claim HEX, Transform ETH into HEX, and buy HEX on a cryptocurrency exchange.
- Claim HEX for free if you were a Bitcoin holder on December 2, 2019. To claim HEX (and get 10% more HEX), follow the steps below and click here: https://go.hex.com/claim/
- Transform ETH into HEX. This uses the HEX contract to essentially swap ETH for HEX. The number of HEX coins you get is dependent on how many ETH enter the contract that day. There is no counter party risk here and you can use the links above to get 10% more HEX when you transform.
- Buy HEX on an exchange. HEX has been listed on over 10 exchanges.
How to Claim HEX Crypto Coins
- You can now store your Bitcoin at any address! (Must have been done before the Hex snapshot on December 2nd)
- Here are some wallets that have been tested that you can use to claim HEX coins: Electrum, Coinomi (mobile only), Bitcoin Core, Mycelium, Bither, Bitcoin Knots, Armory, Trezor, Ledger wallet, KeepKey, Trezor through Electrum (for bc1). Richard likes Electrum and Coinomi. Check here for the most recent supported wallets.
- Install MetaMask in the Firefox or chrome browser. Some users reported issues using the Brave browser. MetaMask lets you run Ethereum dApps in the browser without running a full Ethereum node.
- Go to claim tool. Click here go.hex.com to claim and get 10% more HEX!
- Open your BTC wallet and sign statement provided by the claim tool.
- Paste your digital signature to the claim page.
- Click the “Submit” button/link.
The HEX Adoption Amplifier allows you to get HEX directly during the 351 days. No middlemen with their fees and friction.
PRO Tip: If you don’t already hold BTC, it’s probably better to use the Adoption Amplifier instead of FreeClaim. It is estimated that you will likely get more HEX that way. If you already hold BTC, you should use both. For example, you can hold BTC for the snapshot and then sell it for Ethereum and join the Adoption Amplifier lobby day 1 and FreeClaim day 2.
The AdoptionAmplifier mints HEX for people that want to transform ETH into HEX. Send your ETH to the lobby. Daily, your % of the ETH sent to the lobby transforms into the same % of the HEX available that day. Day 1 mints 1 Billion HEX. Days 2-351 mint ~500 million, decreasing as low as ~300 million if all FreeClaims possible are made. Day 351 is the last day AA runs, giving everyone time to get staked for the giant lump sum payout to stakers on day 353. Users Referred to AA get a 10% bonus minted and their referrer gets a 20% bonus minted. HEX from AA aren’t AutoStaked like FreeClaimed HEX are. There is no 350 day minimum stake length on HEX from AA. HEX from AA can EmergencyEndStake whenever they like. FreeClaimed HEX can’t EmergencyEndStake before their stake is 350 days old.
It could be wise to put some ETH in AA every day. You might get lucky and have few other people join that day, giving you a great bargain.
How to Use the HEX AdoptionAmplifier
How Does Staking HEX Work?
With some currencies, such as Bitcoin, mining is a major part of the process. Here, the role of miners is replaced by stakers. When people stake HEX, they do so with the Smart Contract that minted the token, rather than an external exchange or wallet. They contract to keep their HEX coin staked for a specific period. During this period, each HEX staker will receive interest in HEX coins that remain locked up until the specified stake period is over. The longer investors agree to stake HEX, the higher number of HEX they will receive from interest and bonuses.
When HEX tokens are staked, they are taken off the market. There is a 3.69% minimum interest rate awarded to stakers as a whole every year but also a range of bonuses that can provide higher returns. For example, people who stake larger amounts of HEX or who stake for longer periods of time, receive bigger bonuses.
Some investors may seek to end their stake early. Since they contracted for a longer stake, they will pay a penalty for early withdrawal. These funds are also distributed among the stakers who end their stake on time giving those stakers an additional incentive to stake for the time period they input in the contract.
As a larger percentage of investors stake their HEX coins, the automatic interest rate goes down. However, the removal of HEX coins from the market due to staking is intended to drive up the price of the HEX cryptocurrency (as long as demand remains the same), thereby providing greater results in a different form. On Day 353 of the launch, stakers will receive many significant bonuses applied to their stakes.
Common Questions About HEX
When was the HEX launch date?
The HEX contract will at 00:00:00 UTC on December 2nd. You will have a day to gather up ETH and convert BTC into ETH to join the Adoption Amplifier on day 1. This way you can both FreeClaim and then transform the BTC to ETH to transform into HEX via the AA system. If you don’t already have BTC it’s very likely you will make much more HEX buying ETH to send to the AA system, than by buying BTC just to FreeClaim with it.
When Was the HEX Snapshot Date?
The HEX snapshot occurred on December 2nd at the first Bitcoin block mined after 00:00:00 UTC. You must have access to the private keys to your Bitcoin address having a balance at that exact block height to be able to submit a claim. If you have a normal or segwit bitcoin address, you are very likely to be eligible to claim.
Is Hex a Scam or Ponzi Scheme?
Some people have raised concerns that the HEX cryptocurrency may be a scam, especially as there have been several altcoin projects in recent years that have collapsed dramatically. In particular, some accuse the project of being a Ponzi scheme or a pyramid scheme. While the two terms are sometimes used interchangeably, they are different.
A Ponzi scheme is based on investors being attracted to provide money to a manager, who will provide them with a high rate of return. However, the payouts to early investors are funded not be asset appreciation or smart money management but by the funds received from later investors. New clients’ funds go to pay older clients.
On the other hand, a pyramid scheme involves initial investors recruiting other investors and participants. Sometimes, a pyramid scheme is marketed as a direct investment, but it may also be presented as a form of network or multi-level marketing. However, there is always some type of intangible investment associated with the ability to obtain substantial returns, not just a simple sales commission. The profits at any level go up the levels of the pyramid. Lower-level investors lose out as the ability to recruit new participants dries up, while those at the top may receive massive returns.
In the case of the HEX token, the project notes that it is not a scam as it was founded by high-profile, respected members of the cryptocurrency community and is based on open-source code and audited ERC-20 contracts. All participants are free to examine the code, and no one has to invest real money to participate, so long as they have BTC to make a free claim.
It notes that it is not a security and that, unlike a Ponzi scheme, the project is based on a balanced and verified internal framework. Staking takes place solely within the HEX crypto ecosystem, so there is no reason that HEX would be unable to continue to pay all of its investors, unlike Ponzi schemes, which inevitably collapse.
Unlike a pyramid scheme, there is no multi-level structure involved in the project. People can get referral bonuses over a single tier only, and that persists only for the first launch year, after which there is no referral process at all.
What is BitcoinHEX vs HEX?
The original name of the project was “BitcoinHex” but it has been rebranded to HEX.
Hex Crypto Videos
HEX Elevator Pitch
About Richard Heart
Richard Heart is the founder of HEX crypto, known for his strong support of Bitcoin and various commentaries on crypto trading. He frequently presents at cryptocurrency conferences and on YouTube videos and livestreams. He operates several active Telegram channels, including the telegram channel for HEX cryptocurrency, which provides an array of updates and information about the development of the token historically and at present.
He is a longtime internet marketer who made money in the early 2000s through network and affiliate marketing and online promotions. He has founded and run several successful internet companies, including search engine optimization, mass mailing and other startups. The largest of his companies had 150 employees and a turnover of $60 million, operating in th finance market.
Heart has been heavily and actively involved throughout the HEX cryptocurrency creation process. He describes the project as based on “pumpamentals,” or massive value growth over time. Heart can be considered a controversial figure in the cryptocurrency world because he has become known for harsh, sarcastic arguments with other crypto commentators, debates on Twitter and YouTube, and frequent use of profanity. Of course, these same characteristics endear him to other people in the crypto space.
He is a frequent speaker at blockchain and cryptocurrency conferences and events and has openly debated the merits of the project with a wide range of critics. He has also appeared frequently on international television speaking about bitcoin and cryptocurrency. The HEX website also provides links to Richard Heart’s social media presence on Twitter and YouTube, where potential investors can become more acquainted with the founder’s personal style and approach – as well as his advocacy for and promotion of the project.
HEX offers an interesting way to turn existing Bitcoin holdings into free HEX. Richard and his team created a new kind of financial instrument online with this HEX Cryptocurrency Coin. Only time will tell how well Hex performs but why not claim it if it’s free?