HEX is the first blockchain Certificates of Deposit (CDs) launched by Richard Heart in 2019.
Unlike, bank Certificates of Deposit (CDs), HEX is decentralized.
HEX is an ERC20 token that pays higher average return rates.
You can stake any amount of HEX for a period between 1 and 5555 days.
The higher the locking period the higher returns.
On average, HEX pays around 40% annual percentage yield (APY).
How to Buy Hex Coin
To buy HEX, you need to have ETH in your MetaMask wallet.
Then, connect your MetaMask to ETHHEX.com.
Swap for HEX.
Steps to Buy HEX
1. Install MetaMask
If you have already installed MetaMask, you can skip this step.
First, you need to download MetaMask.
After downloading MetaMask, you need to set up your account.
The account setup process includes creating a password and storing your recovery phrase.
You can refer to this guide for further clarification: How to Create a MetaMask Wallet: A Step by Step Guide.
2. Buy ETH
Next, you need to buy Ethereum (ETH).
In case you already have ETH in your MetaMask you can skip this step.
You can buy ETH in centralized exchanges (CEXs), such as Binance, Coinbase, Crypto.com, KuCoin, and more.
Head to any one of the CEX and select Ethereum.
Then, select the payment option.
Lastly, confirm your order.
After buying the Ethereum (ETH), you need to transfer it to your MetaMask wallet to proceed further.
To transfer ETH to MetaMask, copy your MetaMask wallet address and paste it into your any of the CEX’s accounts.
You can refer to these guides for the step-by-step process of transferring ETH to MetaMask:
- Transfer Ethereum from Binance to MetaMask
- Transfer Ethereum from Coinbase to MetaMask
- Transfer Ethereum from Crypto.com to MetaMask
Alternatively, you could buy Ethereum (ETH) directly inside MetaMask using Transak, Wyre, or MoonPay. But, it will be expensive compared to buying in CEXs.
3. Swap for HEX
After transferring the ETH to your MetaMask wallet, you need to go to ETHHEX.com.
Then, you need to connect your MetaMask wallet by clicking the Connect Wallet button in the upper right corner of the webpage.
Then, select MetaMask.
Now, you need to select your MetaMask account.
If you are having only one account, ensure that is selected and click Next.
Next, MetaMask will show you the permission request.
The permission allows ETHHEX.com to see your wallet balance, activity, and send requests for transactions.
But ETHHEX.com cannot move funds without your knowledge.
So, click on Connect.
By default, ETH is selected in the first field and HEX is selected in the second field.
Enter the ETH amount that you would like to spend for HEX.
Lastly, click Swap.
A confirmation pop-up will come from your MetaMask wallet.
Click Confirm.
That’s it. You have successfully swapped ETH for HEX.
How to Stake HEX
After buying HEX, you can simply hold it like other cryptocurrencies with price appreciation in the mind.
Staking HEX is a wise decision rather than simply holding it.
Steps to Stake HEX
1. Visit go.hex.com
At this point, you must have HEX in your MetaMask wallet.
To stake HEX, you need to go to go.hex.com.
2. Connect MetaMask
After getting into go.hex.com, you will be able to see Connect button in the upper right corner of the webpage.
Click on it.
Now, the MetaMask extension will pop out.
Select your account and click Next.
Then, accept the connection by clicking Connect.
You have established the connection between your MetaMask wallet and go.hex.com.
3. Stake
Now, you need to type in the HEX amount that you wish to stake in the first field.
Next, you need to enter the stake length in days.
After entering the amount and the number of days, you will be able to see Stake Bonuses besides the two fields.
Lastly, click Stake.
After clicking on Stake, you see your stake in the Active Stakes and Stake History.
Always remember that the higher the locking period the higher returns.
Note: Stake Length is limited to 5,555 days.
Conclusion
The gas fee for swapping ETH to HEX is usually $10-$15. However, it varies depending on the congestion of the Ethereum blockchain network.
To get a high return on investment (ROI) in HEX, you need to stake longer than others. By staking longer you will be earning shares along with HEX rewards.
The more shares you have the higher interests you will be paid.
