Hex F.A.Q

18th Oct 2019
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Not investment or financial advice. This is not an endorsement or recommendation to buy, sell or hold.  The staff of this site may own the asset/s mentioned on this page. Investing is risky and you may lose all your capital. Do your own research. See full disclaimer.

We receive no direct payments from the mentioned companies. Some links on this page are affiliate links, at no extra cost to you, we may receive commissions when you use them. However, we try our best to keep our articles fair and balanced.


   

This is not a sponsored article no payment has been done to write about Hex. This information is for informational and entertainment purposes only. All content on this site is not financial advice. Kindly note, we have a Bias when writing this article, because there are affiliate links below. However, we have made the best effort to provide balanced information on Hex.

Is there a difference between Hex Coin, Hex, and BitcoinHex(HEX)?

Hex was called BitcoinHex, then the domain Hex.Win was acquired the project was rebranded to Hex. Hex is also referred to as Hex coin. 1,000 hearts make up one Hex.

What is Hex Coin, Hex, and BitcoinHex(HEX)?

Hex is a cryptocurrency with aspirations to compete with Bitcoin and Gold as a store of value. Learn more: What is Hex Coin?

How does Hex work?

Hex works by having rules which encourage hoarding of the coins; in turn, this decreases supply, which in theory should increase prices. The core functionality of Hex is the ability to create term deposits and earn interest on them.

Is Hex better than Bitcoin?

Probably for the time being as a store of value, Bitcoin has a much more stable price then Hex. Hex transactions will probably be faster than Bitcoin. Bitcoin is far more decentralised than Hex. Hex only a few evangelists and Bitcoin has perhaps millions. Learn more: A comparison between Hex and Bitcoin.

Is HEX Coin a Bitcoin Fork?

Hex is not a security token offering, nor is it an Initial Coin offering, neither is it a fork of Bitcoin. It is a gift to all Bitcoin Holders, and some might argue that Hex is an Airdrop.

What is the difference between a Hex Staker and a Bitcoin Miner?

A Hex staker (depositor) earns Hex a Bitcoin miner earns Bitcoin. A Bitcoin miner needs specialised equipment and needs to sell Bitcoin to maintain steady cash flow. On the other hand, Hex stakers do not need any specialised equipment for their computers to be online all the time. Staking Hex is far cheaper than mining Bitcoin.

When is the Hex Airdrop?

It will probably be some time in November 2019.

Who created Hex?

Richard Heart did, he is an internet entrepreneur, intellectual with a raw and outspoken personality.

Why did Richard Heart create Hex?

Hex is a good idea and seeing it implemented is an exciting experiment. Richard Heart is most likely in control of the originator account, which will hold (or hodl?) a significant percentage of the total Hex coin and all rewards from the Transform contract. I suspect intellectual vanity is also a motivator for Mr heart.

What will be the price of Hex?

Claiming price is 10,000 Hex per Bitcoin, excluding Bonuses. If all bonuses are included the price is lower, but there are too many variables in the Bonus structure to include them cohesively in price estimation. Their main force to determine that is the market. The most significant player in the market will probably be the originator account, and he will have a direct influence on the supply of Hex because he can choose to sell. He also can stake the coins, which reduce stakes, which diminishes demand because staking is less attractive.

Learn more: Hex Review

Is Hex a scam or Ponzi scheme?

A Ponzi scheme usually involves people investing in something and then losing all their money because of specific voluntary premeditated actions by those who control the project. When participating in the official Hex Claim, it is not possible to be scammed. If you buy Hex, however, you can lose your investment. Till this stage, Mr Heart has shown passion and a massive motivation for this project to be a success. Learn more: Is Hex a scam?

How Does Hex work?

  1. Bitcoin holders included in the snapshot and whose account starts with 1 or bc1 can claim Hex.
  2. Those included in the snapshot have 50 weeks to claim, The earlier you claim, the more Hex you will get.
  3. Then it is possible to stake Hex and earn interest.
  4. The staking can be set for as many as 2000 weeks.

How do I claim Hex?

  1. Keep your Bitcoin in one of the suggested wallets (Electrum, Coinomi (mobile only), Ledger and Trezor) on the day of the snapshot
  2. Make sure you are included in the snapshot.
  3. Then go to Hex.Win and make your claim.
  4. You need to make separate claims for each Bitcoin Address you hold.
  5. Learn More: How to claim Hex?

How do I earn passive income from Hex?

You can stake your Hex, for every extra year you stake you have an additional 20% interest.
It is better to stake for three years than once every year; there is a share bonus which ensures this.
You can end your stake early, but there are severe penalties for this.

Learn More: How to earn passive income from Hex?

How much passive income can you earn from Hex?

Depends on how many coins you stake, how many coins are staked and the size of the staking reward pools. The staking pools are funded through several mechanisms, the most basic one is 3.69% interest. This pool is shared among all the stakers rather than all the coin holders. What is the relation between Hex and Ethereum? Hex is an ERC20 token which runs on a digital infrastructure called Ethereum. Ethereum is facing several scaling challenges, but these are being worked on.

What is the inflation rate for Hex?

3.69%. At the end of each stake, you get Hex coin as interest.

How many Hex do you get per claim?

For each Bitcoin you have in a supported address and wallet, you will 10,000 BHX. It pays to be quick! If you claim in the first week, you will get an additional 20% of tokens. After claiming, you may also qualify for additional bonuses paid only to stakers, so you should probably stake so you can increase your stack of BitcoinHEX.

Hex Chart from Hex.win
Hex Chart from Hex.win

Not investment or financial advice. This is not an endorsement or recommendation to buy, sell or hold.  The staff of this site may own the asset/s mentioned on this page. Investing is risky and you may lose all your capital. Do your own research. See full disclaimer.

We receive no direct payments from the mentioned companies. Some links on this page are affiliate links, at no extra cost to you, we may receive commissions when you use them. However, we try our best to keep our articles fair and balanced.


   

Author: Jim Reynolds
Jim Reynolds. Is passionate about finance, passive income and cryptocurrencies. He writes about his passions on NodesOfValue.com. He has worked in the tech and financial industry for a few decades. He holds a masters in business admin and a bachelors in IT. All his writings are not investment advice.


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