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How to buy Horizon State
Your step-by-step guide to buying and selling Horizon State (HST) in the US.
Must read: Horizon State ceases operations
On August 19, 2019 Horizon State announced that it would be ceasing operations.
The information on this page discusses Horizon State prior to its collapse, and should not be considered up to date.
Horizon State is a token-based blockchain voting and decision-making platform designed to provide efficient vote casting and decision-making processes. The secure digital ballot box uses blockchain technology to ensure that data is distributed and tamper-proof, and it allows voting from mobile devices and PCs.
The platform operates through the use of Decision Tokens (HST), which provide the “gas” for voting within the Horizon State ecosystem. If you’d like to buy HST, read on to find out how these tokens work and how you can purchase them.
Where to buy HST
You can buy and trade HST on a variety of cryptocurrency exchanges, such as:
How to buy HST: A step-by-step guide
If you want to buy HST in the US, here’s an example of how to do it:
Step 1. Create an account at Gemini
Gemini is an American cryptocurrency exchange that allows you to buy bitcoin (BTC) or Ethereum (ETH) directly with US dollars, which you can then trade for HST on another exchange. The first step you’ll need to complete is to sign up for an account, which is free to do and simply requires you to provide your contact information and scan a copy of your driver’s license. Once signed up, two-factor authentication (2FA) is standard to provide extra security for accessing your account.
Step 2. Deposit funds into your account
When you log into your account, you’ll be taken to the dashboard screen. Click the “Transfer Funds” button, “Deposit Into Exchange” button and then your choice of an ACH bank transfer or wire transfer.
Step 3. Buy BTC or ETH
You may be able to immediately buy BTC or ETH, but you’ll have to wait for your deposit to clear before you can transfer them out to an exchange that offers HST.
Step 4. Transfer and buy HST
Sign up for an exchange that lists HST, transfer your BTC or ETH over from Gemini by copying and pasting the BTC or ETH address provided by the new exchange and then buy HST with that BTC or ETH.
Note that most cryptocurrency exchanges currently don’t offer the functionality for you to exchange fiat currency (USD) for HST. If this is the case with your chosen exchange, you’ll need to own or purchase another cryptocurrency that’s available in an HST pairing, like bitcoin (BTC) or Ethereum (ETH), and then exchange that currency for HST.
How to sell HST
On the flipside, if you’re looking to sell HST, then you’ll generally need to follow similar steps to those outlined above. The key difference, of course, is that you’ll need to click on “Sell HST” and review current sell prices before completing your transaction. Other than that, the process is more or less the same.
HST is an ERC20 token based on the Ethereum blockchain. As a result, it can be stored in any Ethereum-compatible wallet that supports these types of tokens, including:
How Horizon State works
Horizon State is an Australian startup with the lofty vision of “redesigning democracy for the 21st century”. Looking beyond the marketing tagline, Horizon State offers a secure digital ballot box that it says can’t be hacked, protecting the identity of each voter.
How does it work? Horizon State takes advantage of the unforgeable attributes of distributed ledger technology to create a blockchain-based voting platform. This provides protection for voter identities and protects against outside interference while also allowing voting transparency.
Horizon State also aims to make voting more convenient and affordable. By facilitating immediate digital votes through mobile devices and PCs, the technology could potentially overcome many of the geographical constraints facing the voting process. The company also claims that its system allows for more cost-efficient voting, reducing the cost to taxpayers from between $7 and $25 per vote for traditional methods of voting to less than $0.50 per vote.
Horizon State’s initial coin offering (ICO) took place in October 2017 and raised $1.4 million.
What to consider when buying HST
Regardless of which cryptocurrency you’re thinking of purchasing, it’s essential to thoroughly research its background, stated goals and potential for growth before buying. Cryptocurrencies are complicated and speculative, so make sure you fully understand all the risks first.
If you’re thinking of buying HST, consider the following factors:
- Token use. HST Decision Tokens are the “gas” used to run the voting and decision processes within the Horizon State ecosystem. The aim is for everyone from governments and large corporations to unions and nonprofit organizations to utilize these tokens for polling and voting processes, driving up their value.
- Real-world use. Consider the potential real-world applications for Horizon State technology when determining the value of the token. For example, Horizon State has already partnered with not-for-profit democratic platform MiVote in a move that secured a partnership with the United Nations, and has also announced a partnership with software corporation SAP.
- Potential. The value of the HST token will depend on the demand for Horizon State’s technology. The more organizations using the ecosystem, the greater the potential for growth in value.
- Future developments. Check out the Horizon State Roadmap, available on the company’s website, for details on its timeline for future technological developments and releases. You can also sign up to the Horizon State mailing list to receive regular updates.
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