Holochain (HOT) - All you need to know
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Ways to invest in Holochain
The first thing you should be aware of if you want to own Holochain outright is that you need to sign up to a crypto broker or exchange. They work slightly differently, though their application is similar, and they are the only two online services that allow you to buy, sell and trade your very own HOT coins.
However, there are other options besides simply holding coins yourself. This includes things like ETFs that own Holochain or investing in a mutual fund with an altcoin focus. We outline these options below and provide links where appropriate to help reinforce your Holochain investing knowledge.
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What is Holochain?
In development since 2016, Holochain is a framework for building applications without the need for any host server. It works like a torrent because apps are hosted locally by individual computers. Anyone who provides their computer as a host or donates storage is rewarded with Holochain. The main Holochain network has not yet launched, so for now, HOT tokens are the platform’s in-house currency. In the future, they will be replaced by the HOLO token.
If you feel you need an introduction to the cryptocurrency space before learning more about Holochain, check out our Bitcoin 101 course. Otherwise, keep reading to gain an insight into the different investment methods available with Holochain.
How to invest in Holochain
There are plenty of options available and the best one for you depends on how quickly you want to see returns and how much of a budget you have to start with. To aid your understanding, we have listed the top options below and provided links where appropriate to explanatory information.
- Holochain brokers. If buying Holochain quickly and directly is your top priority, consider signing up to a broker. These are platforms that allow you to get cryptos with fiat money and execute transactions instantly with low fees. However, make sure the platform you have opted for supports Holochain because not every broker offers every coin.
- Holochain exchanges. With even lower fees than brokers, exchanges are like marketplaces for cryptocurrencies. They allow you to swap coins with other users in real-time. In addition, they support a wider range of cryptocurrencies.
- Holochain ETFs. At present, there are few if any ETFs that offer exposure to the price of Holochain. When this changes, you can find out about it on this page first, so make sure you bookmark it and check back periodically. For those who don’t already know, ETFs are a group of individual cryptocurrencies, stocks and/or other assets that are generally within the same industry.
- Holochain funds. Large institutional funds have become increasingly interested in cryptocurrencies in recent years. However, it remains to be seen how much attention they are directing towards Holochain. It is important to note that there are major barriers to entry for regular investors because large funds require significant capital from each investor.
- Holochain mutual funds. These are more accessible to retail investors because they don’t have such high requirements for involvement. Mutual funds function by pooling your capital with other investors for it to be invested in a portfolio of assorted assets, in this instance, including Holochain. A fund manager is in control and makes these investment decisions, so it can be a good way to invest without relying on your expertise.
- Holochain trusts. They trade like stocks, and owning Holochain through a trust can be a good way to gain exposure to its market performance. However, fees are typically high, and few trusts currently offer Holochain.
- Holochain debit cards. You can get a debit card to spend Holochain on regular purchases, such as at the cinema or a restaurant. Holochain debit cards store your coins and instantly exchange them for fiat currency whenever you need to make a payment. This means you can involve Holochain in your daily routine, though be aware of the fact that fees are currently substantial.
- Holochain apps. If you want to make moves on the go, there are plenty of different apps that can help you achieve this. The majority of online brokers now have an associated app, so you can control your entire investment portfolio on the move, or even from the comfort of your bed.
- Holochain wallets. For those of you who intend to hold Holochain to speculate on long-term price accretion, storing your tokens in a wallet may be prudent. These are affordable solutions to the problems of fraud and loss. You can open an online wallet or opt for a physical wallet in the style of a hard disk depending on your needs.
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