How to buy Horizon State

Your step-by-step guide to buying and selling Horizon State (HST) in Indonesia.

Last updated:

Horizon State ceases operations

On 19 August 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 allows voting from mobiles 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.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy HST

You can buy and trade HST on a variety of cryptocurrency exchanges, such as:

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Cryptocurrency
-
BTC, BCH, XMR, DAG, ETH, XRP, EOS, LTC, ADA, TRX, NEO, ONT, STEEM, BTM, BCD, ZINC, VET, OLT, USDT, BSV, & 134+ more
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.

Compare up to 4 providers

How to buy HST: A step-by-step guide

If you want to buy HST in Indonesia, here’s an example of how to do it:

Step 1. Create an account on a cryptocurrency exchange where you can trade HST

HST is available in currency pairings with bitcoin (BTC) and Ethereum (ETH). To create an account, you’ll need to provide your name and email address and create a password. Depending on the exchange you choose, you may need to provide additional information, for example, proof of ID, to verify your account. It’s also recommended that you set up two-factor authentication (2FA) for increased account security.

Step 2. Deposit funds into your account

Many cryptocurrency exchanges only permit trading between cryptocurrencies, which means you often can’t directly deposit fiat currency, such as Indonesian rupiah (IDR). This means you’ll usually need to own or buy BTC or ETH before you can purchase any HST.

The steps you need to follow to deposit funds will depend on the exchange you’re using. For example, if you’re using Kucoin, select “Assets” in the top menu, choose your desired currency and click “Deposit”.

Step 3. Buying HST

Now you can exchange BTC or ETH for HST. While the process varies slightly from one exchange to the next, you’ll generally have to search for your chosen trading pair (such as HST/BTC) and enter the number of HST. It’s then a simple matter of entering the number of HST you want to buy, choosing a market or limit order and clicking “Buy 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 wallets?

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

Based in Melbourne, Horizon State is an Australian start-up 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 mobiles 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) was held 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 non-profit organisations to utilise 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 organisations 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 of its timeline for future technological developments and releases. You can also sign up to the Horizon State mailing list to receive regular updates.

FAQs

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site