Hex, a new project that will be launching on December 3rd, 2019, is the first high interest savings account launched on the Blockchain. Hex was created out of a need for a platform with trustless interest, and the main goal of the new project is to change the way its users think about investing, saving, and currency in general.
Since the project relies on trustless interest, its users can exchange currency directly with one another instead of depending on a company or bank to mediate the transaction. This means that transactions using this platform are completed more swiftly, have no hidden fees, and have stronger protections against incidents of fraud or corruption. After Hex launches and generates a large user base, the new project has the potential to completely eradicate middlemen payment companies such as PayPal and Venmo, as well as impact credit card companies like Visa and MasterCard.
Blockchain, cryptocurrency, and internet marketing expert, Richard Heart, excitedly anticipates the launch of Hex, his new project. As an entrepreneur who has developed various, highly successful internet startups, Heart identified a need for a service, and worked quickly to develop a platform that met those needs. What makes Hex unique and wholly different from Bitcoin is the fact that the new service uses an Ethereum-based token, not Bitcoin. The “Hex” brand refers to its open source, trustless, store of value, censorship resistant, permissionless, and immutable nature-six of the main characteristics of the project.
Bitcoin has already proved how useful cryptocurrencies can be with respect to investing. The currency is treated more as an investing tool than an actually currency only 10 years after its development. Despite how revolutionary and successful Bitcoin has been, the platform itself doesn’t have a way for its users to earn interest. Because Bitcoin holders can only send, receive, or hold their coin, they must send their money to a third party if they want to start earning interest. Since these third party organizations are not strictly regulated, Bitcoin users can fall victim to hidden fees, hacked accounts, and other security problems.
In order to create a system similar to Bitcoin, but without all the drawbacks that come with it, Heart developed Hex to overcome these flaws while also boasting the advantages that Bitcoin has enjoyed. Hex holders will have access to three main functions that make Bitcoin so easy to use. Users will still be able to send, receive, and hold their coin, but due to the trustless interest mechanism, users only have to stake their coin and the system will automatically credit individuals with the interest their money earns.
After the Bitcoin snapshot on December 2nd 2019, users can begin claiming Hex. The earliest users claiming Hex can expect a return of around 10,000 BitcoinHex for 1 Bitcoin. This rate won’t last long, however. Every week after the launch of Hex, there will be a reduction in the amount of Hex that users receive for the amount of Bitcoin they invest. Along with being able to buy Hex at a more affordable rate, early BitcoinHex adopters will also earn a speed bonus of 20% if they purchase Hex in the first week of its launch.
Those who invest in Hex have the option of staking money. The longer a user stakes a particular amount of money, the more they earn through interest. Users gain interest by receiving a percentage of all unclaimed funds during the claim period. Along with interest, users can also earn money through referral bonuses when they get another user to join Hex.
For those interested in learning more about the upcoming Hex project, visit the company’s main website. Additional information about the founder, Richard Heart, and the rest of the Hex team can be found on the homepage of the website, as well as an extensive Frequently Asked Questions (FAQ) page. This page outlines all the basic information potential investors would wish to know about Hex, Bitcoin, trustless interest, the Blockchain, and much more.