Hoge Finance, formerly known as Hogecoin (HOGE). How to buy Hoge Finance what does it do? Full article about HOGE.
You may have heard about Hogecoin in the news. It’s a new cryptocurrency that has been making waves lately, but what is it? How to buy Hoge Finance? What does it do? In this article, we’ll answer those questions and more.
What is Hoge Finance (HOGE)?
HOGE, formerly known as Hoge Finance, is an auto-staking ERC-20 token with capped and deflationary supply. The initial supply of tokens was 1,000,000k with half (500bn) permanently burned at launch. token launched on February 7, 2021, with no tokens allocated to the team. Hogecoin is a community-driven, DeFi-driven DeFi crypto-token.
The Hoge finance team have created a platform for token staking with competitive rates and liquidity. Stakers will be able to withdraw their earned HOGE, or reinvest it in the next cycle of returns. The goal is that holders too lazy to stake can earn passive income by investing in other people’s stakes on the Hoge Finance platform.
A key feature of this project is “smart contracts” which execute transactions between investors without any manual intervention from an intermediary–a role usually performed by traditional financial institutions like banks or exchanges.
At launch, there were 500 billion tokens available for distribution under a DeFi model (decentralized finance). No new coins will ever enter circulation beyond these initial 500bn Hogecoin
How does Hoge Finance (HOGE) work?
Every time a transaction takes place, 1% of the transaction is removed or “burned” from the total supply. Another 1% is distributed among all HOGE holders, increasing the value of all transactions. This creates a deflationary currency, decreasing the supply (deflation) while distributing the value to all who use the token. As more transactions take place in the network, the individual net-worth of all who own a piece of the network increases as well. As a result, all have an incentive to spread the use of the token as much as possible. The value of the currency is increased, while everyone’s net worth increases proportionally.
If you sell your Hogecoin, then it ceases to have value for the network and will be sent back into a reserve (not burned). If everyone sells their coins, there are no more transactions taking place so the deflationary nature of this token is gone.
How to buy Hoge Finance (HOGE)?
There are currently two trusted exchanges that trade Hogecoin, Gate.io or Bilaxy.com
Verify your e-mail address, then log in to the site by Signing up with this link, you will get a 10% discount on your trading fees.
Deposit USDT to your Gate.io account.
Click Wallet > Deposit in the top menu. Copy your USDT Wallet address and paste this in the exchange you want to send USDT from. We do this because we cant buy crypto with a credit card on Gate.io, read our guide “How to buy crypto with a credit card” if you want to see the full steps prior to this.
Step 3. Complete the purchase of Hogecoin (HOGE) on Gate.io
To purchase HOGE, click “markets” in the top menu, search for HOGE. “HOGE/USDT” will no show in a list, click the list and enter the amount of HOGE you want to buy, or the amount of USDT you want to trade against Hogecoin.
When this is said and done, you will now have access to your Hogecoin (HOGE) if you click “Wallet > Funds overview” in the top menu. Success!
How to buy Hoge Finance (HOGE) at Bilaxy.com
This is how you buy Hogecoin (HOGE) on Bilaxy.com
Sign up at Bilaxy.com and create a new account or log in to your current one.
Add funds (ETH which is the trading pair for HOGE) to your bilaxy.com account by depositing crypto from another exchange or an existing wallet. (If you don’t have any funds, read our guide “How to buy crypto with a credit card” to see the full steps)
Click “Exchange” from the top menu and click “+ New”. Search for HOGE on the left side of this page. If you search for Hogecoin (HOGE) it will show up in the list right away. Click “Hogecoin”
Click “Buy”. If all goes well, your order will be filled instantly. Your funds can now be withdrawn from the “Funds” tab in the top menu.
Is Hoge Finance a good investment?
According to the forecast System, Hoge Finance is a great investment.
What to do with Hogecoins?
Hoge Finance will be releasing an update in the future that integrates crypto lending, borrowing, and hedging features into its system. This means you’ll be able to use your Hogecoin holdings as collateral partially or fully for any loans on offer from their partners at Bitbond which can then be repaid using interest generated by holding positions in Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC), Ripple (XRP) Monero(XMR). So if you want more ways of making money this could be a good move!
Wrapping it up
Hoge Finance is an innovative new cryptocurrency that aims to be the first of its kind. It has a decentralized, open-source blockchain with no centralized authority or control over it. The HOGE coin will use PoS (Proof of Stake) and can only be mined by people holding coins on their wallets for at least 5 days. If you are looking into buying some HOGE but don’t know where to start, we’ve got your back! Our team has created this guide so you’ll have all the information needed to buy and trade in your desired currency securely online without any worries about scams or fraud.