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How to buy and sell High Performance Blockchain (HPB)
Read our essential guide to buying, selling and storing HPB tokens.
High Performance Blockchain aims to solve what is perhaps the biggest problem facing blockchains today: scalability. Through the use of a chip accelerator engine and an underlying blockchain platform, it aims to create a network capable of handling millions of transactions per second.
The native currency of High Performance Blockchain is the HPB token (HPB), which plays a key role in the functioning of the network. If you’d like to buy HPB tokens but don’t know how, read on for step-by-step instructions.
Where to buy HPB in New Zealand
HPB tokens can be purchased on the following crypto exchanges:
Quick guide to buying HPBHere’s an overview of the steps using Bibox as an example of an exchange.
- Register for an account with Bibox.
- Enable 2-factor authentication.
- Select “Master Account” from the “Funds” drop-down menu.
- Select the currency you want to transfer and click “Deposit”.
- Copy the relevant wallet address and deposit funds into your account.
- Select “Basic” from the “Token Trading” drop-down menu.
- Search for the pair you want to trade, such as “HPB/ETH”.
- Enter the amount of HPB you want to buy.
- Review transaction details.
- Click “Buy HPB”.
A step-by-step guide to buying HPB
Want to know how to buy HPB tokens? The instructions below will take you through the process step by step.
Step 1. Register for an account with an exchange that lists HPB
The comparison table above includes a list of exchanges that feature HPB in one or more trading pairs. Compare the features of these platforms to decide which one is right for your needs.
Once you’ve chosen an exchange, you can sign up for an account by providing your email address and creating a password. Some sites will also require you to provide detailed personal information and proof of ID to satisfy Know Your Customer and Anti-Money Laundering (KYC/AML) regulations.
Don’t forget to also enable 2-factor authentication on your account for extra security.
Step 2. Deposit funds into your account
There’s currently no way to buy HPB tokens with New Zealand dollars. Instead you’ll have to acquire a currency listed in a trading pair alongside HPB – such as bitcoin (BTC), ether (ETH) or Tether (USDT) – and then exchange it for HPB. If you need help obtaining any of these currencies, check out our how to buy guides:
To deposit these funds into your account, you’ll need to find the address of your exchange wallet. For example, if you’re using Bibox, hover your mouse over the “Funds” drop-down menu and click on “Master Account”. If you click the “Deposit” link next to the currency you want to transfer, you’ll then be able to copy your exchange wallet address.
Step 3. Buy HPB
To buy HPB tokens, you’ll need to navigate to the trading page on your chosen exchange and enter the details of your transaction. For example, on Bibox you’ll have to hover over the “Token Trading” tab and select either the “Basic” or “Full Screen” view from the drop-down menu.
After searching for the pair you want to trade, for example HPB/ETH, you can then enter the amount of HPB you want to purchase. Make sure you take a moment to review the full details of the transaction before clicking “Buy HPB”.
How to sell HPB
To sell your HPB tokens, you’ll need to follow a very similar process to that outlined in step 3. However, once you’ve navigated to the trading page, make sure to use the “Sell” tab when you enter your transaction details.
It’s also worth remembering that HPB is only available in a few currency pairs, so you may not be able to directly exchange your tokens for the currency you want.
Which wallets can I use to hold HPB?
Rather than keeping your tokens on an exchange, which exposes you to the risk of hacking and theft, it’s recommended that you move your holdings into a secure, private wallet.
HPB tokens are ERC20 tokens issued on the Ethereum blockchain, so you’ll need an ERC20-compatible wallet. Some wallets you might like to consider include the MyEtherWallet web interface, the MetaMask browser extension, and the Ledger Nano S and TREZOR hardware wallets.
How HPB works
In the world of crypto, scalability is the word on everyone’s lips at the moment. As bitcoin and Ethereum search for ways to improve their transaction throughput, there are plenty of new and upcoming crypto projects with their own solutions to the problem of network congestion.
High Performance Blockchain’s unique approach is to incorporate both hardware and software architecture. Built on NEO and using the NEO virtual machine, this Chinese platform introduces accelerating hardware chips to enhance the speed of data transfer and access. It’s also designed to be blockchain-agnostic, capable of running a wide variety of virtual machines, and uses a Delegated Proof of Stake (DPoS) consensus mechanism.
The end goal of the project is outlined in its whitepaper: “With a target of 1 million TPS (transactions per second) and a 3-second confirmation time, HPB aims to become the standard for all major business applications in industries that require handling of billions of data points with extremely low latency.”
UnionPay Smart, which handles 80% of China’s banking transaction data and is described in the HPB whitepaper as having an annual turnover of 80 trillion yuan, is listed as a partner. This should also give you an idea of the size and scale of business customers that High Performance Blockchain is targeting.
What to consider if buying HPB
Cryptocurrencies are volatile and complicated assets, and it’s essential that you’re aware of the risks involved in buying any digital coin or token. With this in mind, you’ll need to research and understand all the variables that could potentially have an impact on the price of a currency.
So if you’re thinking of buying High Performance Blockchain tokens, consider the following factors first:
- Supply. The initial supply of HPB tokens is 100 million. According to CoinMarketCap, at time of writing (June 2018) the circulating supply was 29,702,632 HPB.
- Distribution. According to the whitepaper:
- 4% of token supply set aside for marketing initiatives
- 18% of tokens were ICO refunded, remaining locked after the People’s Bank of China issued the Announcement on Prevention of Financing Risks of Token Issuance on September 4th, 2017
- 20% reserved for founding team and cornerstone investors
- 18% set aside as community incentives to encourage development of the ecosystem
- 12% allocated to a Reserve Fund for strategic investment, token exchange, government cooperation, response to industry changes etc.
- Availability. HPB tokens are only available on a small number of exchanges, which may make the currency harder to access for new crypto buyers and might potentially impact demand. On the other hand, gaining listings on new exchanges could create increased demand for the token and have a positive impact on price.
- Switch from ERC20. While HPB is currently an ERC20 token on the Ethereum network, it will be replaced by the HPB coin after the launch of the project’s own mainnet in June 2018.
- Whitepaper. For more details about the tech behind High Performance Blockchain and how the platform works, check out the HPB whitepaper.
- Early stages of development. It’s still early days for High Performance Blockchain, with its mainnet set to launch by the end of June 2018 and its final version scheduled to go online at some stage in 2019. While the platform has plenty of promise, whether or not it’ll be able to perform as hoped remains to be seen.
Disclosure: At time of writing the author holds ADA, IOTA and XLM.
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