How & where to buy Hedgetrade (HEDG) online
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The HedgeTrade token is an important part of the app, as you need it in order to access tips and advice, and you can earn it for supplying quality information to other users. Use this beginner’s guide to learn how to get HEDG tokens for yourself by following a step-by-step guide.
What are the best exchanges to buy HEDG on?Copy link to section
Right now, Hedgetrade isn’t available on exchanges like Binance or Coinbase. To buy it, you will need to perform a ‘swap’ which is when you swap one cryptocurrency for another. Don’t worry, as this is normal for lesser-known altcoins and doesn’t take much time.
A swap is much like a currency conversion where you swap GBP for EUR, for example. In the case of HEDG you will need to buy some Ethereum (ETH) first, and swap it for HEDG using a decentralised exchange.
The process sounds a little confusing but it’s quite straightforward. The guide below explains how to swap ETH for HEDG.
How to buy HedgeTrade online – a step-by-step guideCopy link to section
Step 1. Find an exchangeCopy link to section
You will need to use an exchange to buy Ethereum. Our recommendation is Binance. It’s one of the most straightforward exchanges to use, and the sign up process takes just a few minutes.
You can use fiat currency on Binance and the platform also has a wide range of other coins available. When registering an account, you will need to provide identification, so make sure you have some.
Step 2. Transfer ETH to crypto walletCopy link to section
Once you’ve bought your Ethereum you need to move it over to a wallet. A crypto wallet is like an online bank account where you can store your cryptocurrency. There are lots of different ones to choose from, and most wallets are free to use. We recommend MetaMask, as it’s one of the simplest to use.
Every wallet comes with a unique address. You will need yours when you transfer your ETH into it. The image below shows where you can find your address in the MetaMask wallet. Once you have your address, click the ‘send to wallet’ button on Binance and follow the instructions.
Step 3. Connect your wallet to UniswapCopy link to section
The third step is connecting your wallet to Uniswap. Head to the Uniswap home page and click the pink button in the top right corner to launch its app. Here click ‘connect wallet’ and you’ll see a few options. Select MetaMask (or whichever wallet you’re using) and click connect. You will now be able to access the money in your wallet and get some HEDG.
Step 4. Swap ETH for HEDGCopy link to section
Click the swap tab and select ETH from the first drop-down list. Choose HEDG for the second drop-down and enter how much ETH you want to spend. The platform will then show you how many HEDG you can get. If you’re happy with the amount, you can execute your trade.
How to trade HedgeTrade – a step-by-step guideCopy link to section
The steps you need to follow if you want to trade HedgeTrade are the same as if you want to buy it. Its not available on regular exchanges and you’ll need to use a DEX and perform a ‘swap’.
Here’s a guide explaining how you can trade HedgeTrade.
Step 1. Find a brokerCopy link to section
Lots of smaller altcoins are not yet available on exchange platforms like Coinbase or brokerage services like eToro. You will need to use a decentralised exchange (DEX) to get some HEDG and the steps you need to follow are the same as the how to buy guide above.
Step 2. Learn how to perform technical analysisCopy link to section
The key to making money from day trading is being able to accurately predict how a coin’s price will change. The best way to learn how to do this is through technical analysis, which is the study of price charts in order to identify patterns in how a price has changed in the past. Then, when you see the same pattern taking place in real-time, you can make an educated guess on how the price is going to change now.
Step 3. Start tradingCopy link to section
When you have completed the steps above you will be ready to start trading. Its important to take extra care at this stage as any mistakes could be costly. Make sure that you enter your trade details correctly and use a stop loss to protect your money if the price of HEDG goes against you.
Should I invest in HedgeTrade?Copy link to section
HedgeTrade is the sort of cryptocurrency that might appeal if you want to use its trading platform, or if you just want to speculate on new technologies as they develop. Its app has found a way to monetise knowledge by getting people to pay for crypto trading advice.
However, the app is yet to be released to the general public. It’s been in ‘closed beta’ for a long time, which means that only people with an invite can join. That might mean that the price has a lot of potential to spike after the release happens but it raises questions about when exactly that might be and why it has taken so long.
The best bet with a cryptocurrency like this might be to stick to investing in small amounts in the short term and to wait for more news. Until the app is released there’s going to be a lot of uncertainty about whether it can succeed, and so it’s a much riskier investment while the system is still being tested.
Still undecided?Copy link to section
To help you come to a final decision about HedgeTrade, here is a summary of the pros and cons of the coin. Read through them, and then scroll down for some final tips and advice on how to time your investment.
ProsCopy link to section
- The HEDG cryptocurrency is a crucial part of the trading platform and will grow in value as more people start to use HedgeTrade
- HEDG has practical applications on the app, such as the way to pay for quality trading advice
- There are plans to make more assets beyond cryptocurrency available to trade with HEDG
Finally, here are three more questions to help you decide whether to invest in HedgeTrade.
1. Is now a good time to buy HedgeTrade?Copy link to section
The answer depends on a few factors, like the overall cryptocurrency market and how you want to use the coins. Smaller coins like this tend to be heavily influenced by the cycles of the market as a whole, so you should try to buy when everything is trending up and avoid when there is more uncertainty.
With that said, if you plan to hold HedgeTrade for a while in the hope that it appreciates in value, then it’s better to buy sooner rather than later. If you want to trade it as part of a short term strategy, then you should wait until the HEDG price reaches a point where your technical analysis tells you to dive in. Alternatively, you can use our own analysis to help you get started.
2. What problem does HedgeTrade solve, and what are its investment prospects?Copy link to section
HedgeTrade makes cryptocurrency trading accessible to everyone by making advice an asset that can be bought and sold. It’s the next step on from the sort of social trading that has been pioneered by apps like eToro, because it rewards people for supplying good advice and helps beginners get started by letting them access the work of more experienced users.
The success of social trading in traditional finance bodes well for a platform that offers something similar for cryptocurrency. However, the investment prospects are clouded by the fact the app has taken so long to be released in full. While it remains in closed beta it’s difficult to judge how good it is and how successful it might be.
You should tread carefully until the app is available for anyone to use. The best way to stay informed is to follow the latest news, in the links below, and look out for signs of a release date and feedback as to how well the app matches up to the hype.
3. Do you want to hold HedgeTrade for the long term?Copy link to section
There are times when it’s a good idea to hold a cryptocurrency and others when the best way to make money is by trading it quickly. The two approaches suit a different type of person and you can find some final pieces of advice for each one below.
Considerations for a long term investment strategy
To invest in HedgeTrade coins and hold them for the long term, you should sign up to an exchange. Get your coins from there and then think about using a crypto wallet to store them in.
Considerations for a short term trading strategy
A short term strategy is based on technical analysis. Learn how to read price charts and identify opportunities, then sign up to a broker with low trading fees to buy and sell the coins.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >