What is HBAR coin? What can HBAR coins do? How to store HBAR coins?

HBAR coins are the native cryptocurrency of the Hedera Hashgraph network, used for transaction fees, network governance, and staking.

Nov 07, 2024 at 05:43 am

What is HBAR Coin?

HBAR coin is the native cryptocurrency of the Hedera Hashgraph network. Hedera Hashgraph is a distributed ledger technology platform that employs a unique hashgraph consensus algorithm to achieve high throughput, low latency, and high security.

What Can HBAR Coins Do?

HBAR coins play several crucial roles within the Hedera Hashgraph network:

Transaction Fees: HBAR coins are used to pay for transaction fees on the Hedera network. These fees are used to incentivize network participants to verify and process transactions.
Network Governance: HBAR coin holders can participate in network governance by voting on proposed changes to the Hedera protocol.
Staking: Users can stake their HBAR coins to participate in the network's consensus process. Staking helps ensure the network's security and stability and rewards stakers with additional HBAR coins.

How to Store HBAR Coins

HBAR coins can be stored in various ways:

Official Hedera Wallet: Hedera provides official wallets for both mobile and desktop devices, offering a secure and convenient way to store HBAR coins.
Third-Party Crypto Wallets: Many third-party crypto wallets, such as Exodus, Ledger Nano X, and Trezor, support HBAR storage.
Centralized Exchanges: Some centralized cryptocurrency exchanges, such as OKX, allow users to store HBAR coins on their platforms.

Additional Information

Issuance: HBAR coins have a fixed supply of 50 billion, with 20 billion currently in circulation.
Price: The price of HBAR coins fluctuates based on market forces.
Use Cases: HBAR coins are being explored for various use cases, including decentralized finance (DeFi), supply chain management, and digital identity.

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