Bitcoin is currently the most trustworthy and secure digital currency. We should deal in the finest forms possible in a world full of fraudsters and looters. There are many different methods of getting bitcoin and Hoge finance is an emerging one.
Hoge Finance is a deflation cryptocurrency and ERC-20 token based on the Ethereum blockchain and operates on the Ethereum network. Each transaction has special “tokenomics,” which are included through the use of smart contracts. For example, there is a 2 percent dividend to token holders and a 2 percent coin burn on every transaction.
It means that 2 percent of every single Hoge transaction is divided among users who currently have HOGE tokens in their wallets due to the redistribution per transaction. An additional 2% of the transaction is incinerated, resulting in a permanent reduction in the overall supply of HOGE, hence the word “deflationary.”
Every HOGE transaction is subject to a 2 percent tax, which is charged on top of the transaction fee. One percent of that tax is sent to the burn wallet, permanently eliminated from the supply. The remaining 1 percent is allocated to all wallets that possess HOGE that are not part of an exchange.
HOGE was created with the sole purpose of serving as a deflationary “Doge but DeFi.” A group of HOGE founders with a bigger vision, on the other hand, guided the project in the direction of a more humanitarian and practical plan.
Where Can You Buy Hoge Finance (HOGE)?
HOGE has been listed on several cryptocurrency exchanges, but it cannot be purchased with fiat money straight from the exchange, unlike most other major cryptocurrencies. However, you may still purchase this coin by first purchasing Ethereum from any fiat-to-crypto exchange and then transferring to an exchange that trades this coin.
In this guide article, we will lead you through the procedures to purchase HOGE in detail.
Step 1: Create an account on the Fiat-to-Crypto Exchange
To get started, you’ll need to purchase one of the major cryptocurrencies, in this case, Ethereum (ETH). Specifically, we will go through in detail two of the most often utilized fiat to cryptocurrency exchanges, Uphold.com and Coinbase, and how to use them. Both exchanges have their fee policies and other features, which we shall go over in greater detail later on. If possible, it is recommended that you try both of them to determine which one best meets your needs.
Step 2: Purchase ETH using Fiat Currency
Once you have completed the KYC procedure, you will be prompted to provide a payment method at this point. You have the option of providing a credit/debit card or making a bank transfer in this section. Using credit or debit cards will result in more significant fees, but you will be able to complete your transaction immediately. While a bank transfer will be less expensive but will take longer, certain countries will offer fast cash deposits with low costs depending on your place of residence, while others will not.
Step 3: Make a Transfer of ETH to an Alternative Cryptocurrency Exchange
But our work isn’t over yet. Because HOGE is an altcoin, we must move our ETH to an exchange where HOGE may be exchanged; in this case, we will utilize Gate.io as our trading platform. Gate.io is a famous cryptocurrency exchange that offers a significant number of tradable altcoin pairs. It is also a popular exchange for trading altcoins. To create a new account, click on the link provided below.
Step 4: Make a Deposit of ETH into the Exchange
Depending on the exchange’s requirements, you may be asked to go through a second KYC process, which should take no more than 30 minutes and no more than a few days at the most. Despite this, the procedure should be straightforward and straightforward to follow. Upon completion, you should have complete access to your exchange wallet’s funds.
Step 5: Make a HOGE Trade
Return to Gate.io and select ‘Exchange’ from the drop-down menu. Boom! What a spectacular view! The continually flickering figures maybe a little frightening at first, but calm down and let’s get our brains around this.
Step 6: Store HOGE
If you intend to hold your HOGE for an extended period, you may want to investigate ways of managing it safely. However, Binance is one of the safest cryptocurrency exchanges; there have been hacking incidents, lost funds. Because of the nature of exchange wallets, they will constantly be online (or “Hot Wallets,” as we refer to them), exposing some parts of their security to potential threats and weaknesses. To date, the safest method of holding your coins is always to use a form of “Cold Wallets,” in which the wallet will only have access to the blockchain (or “go online”) when you transfer out funds, hence lowering the likelihood of hacking occurrences.
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