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How to Buy Holo (HOT) in Canada?
Holo (HOT) has a market capitalization of more than 400 million CAD. Although it’s still far from the market cap of Bitcoin and Ethereum (hundreds of billions of dollars), Holo (HOT) is still worth considering if you’re looking for a cryptocurrency to buy, and this article explains why it’s not a bad choice in today's market. If you decide to buy Holo (HOT), you can also learn how to purchase it and practice smart crypto investing by signing up with Coinberry.
Holo allows people to host their peer-to-peer applications in a decentralized platform. In other words, it’s a platform where apps can live. As a result, users don’t have to depend on servers and cloud software (and users don’t have to pay for cloud hosting). There’s no third party (e.g. Amazon Web Services, Google Cloud Platform, Microsoft Azure) and the Holo applications directly connect users in a secure network.
Because Holo (HOT) doesn’t directly compete with Bitcoin and Ethereum, this cryptocurrency has become popular among investors, developers, and enthusiasts.
Also, Holo has the potential to run many of the behind-the-scenes in the crypto market. In other words, it can become widely useful while still avoiding direct competition from major cryptocurrencies.
In addition, Holo empowers users because anyone can become a host and turn their computer into a revenue source. They can get paid in HoloFuel for hosting decentralized applications. Users can redeem HoloFuel for other currencies and use that to pay bills.
Holo has great uses in the following applications:
If more users get into Holo, they empower a kind of decentralized web that supports an ecosystem of decentralized apps that don’t depend on centralized and expensive servers (that can anytime change their terms or delete the apps in their platform).
Businesses and developers often host their websites and apps in the following platforms:
Those are popular and centralized platforms that allow apps and websites to be accessible for mainstream users. In other words, these platforms make it possible for us to use and access social media, chat, online bank accounts, shopping apps, and other everyday applications.
Although those platforms are already widespread and cost-efficient, more and more users now are raising several concerns such as:
As a result, more and more users now look for alternatives that bring back the control to the public. They’re also starting to explore decentralization and working outside of the system. This approach has been pioneered by Bitcoin where people can carry out financial transactions directly even without a third party or a central clearing authority. Today, this decentralization (no need for a central or third party) has also been applied in hosting of apps.
Holo applies that decentralization on the hosting of apps. In addition, it also empowers users and allows them to earn money from such decentralization. As a result, Holo is meeting the ideal about what peer-to-peer and web3 are all about: Participation and Empowerment.
For us mainstream users and investors, we might not go as far as helping host decentralized apps in our computers. Often, what we’re more interested in is how to profit from Holo in the easiest way possible (without having to figure out the technical details and just buy Holo and wait for its price to increase). To do that, a quick way is by doing the following:
If you buy some Holo (HOT), you might benefit from its future price increases and further development. Even if you don’t use your computer to host the apps and even if you don’t earn HoloFuel by doing so, you can still get some profits by smartly investing in HOT through a crypto trading platform.
Investing in Holo (HOT) has some potential. It comes from how it empowers people to earn money from hosting decentralized applications (more and more are being built at this moment). As the community for blockchain and cryptocurrency grows, the Holo network might also benefit and it might reach and empower more users along the way.
However, the price of Holo (HOT) is also volatile. This is also the case with most other cryptocurrencies. As a result, this volatility carries both risks and opportunities. In a short time, this can quickly lead to significant gains or losses.
Some investors choosing to buy Holo (HOT), aim to reduce the risks and potential losses, by avoiding putting all their eggs in one basket. Instead, they’ll opt to spread their funds among different cryptocurrencies and also invest their funds in other assets such as stocks, real estate, and business.
Experienced investors will make use of consistent strategies when buying Holo (HOT) or other cryptocurrencies, such as dollar cost averaging. Here, they consistently buy small amounts of crypto each week or each month. This minimizes risks because even when price suddenly drops, the losses will be lower. In contrast, if they buy a large amount of crypto and the price suddenly falls, the losses can be significant.
In investing, preventing losses is as important as realizing gains. After all, losing money is never ideal and might leave you with less options than where you started. By making use of dollar cost averaging, you can avoid large, instant losses, which ultimately helps you stay collected and remain objective with your crypto investing.
If you want to learn more about dollar cost averaging in crypto investing, you can visit this page about Coinberry Autopilot, which can provide the information necessary to protect yourself from the volatility of crypto’s prices. This may also help you save time and energy in crypto investing. With this approach, you can reduce the risks and perhaps help sustain your crypto investing journey until you achieve a win.
Coinberry is a Canadian digital asset trading platform that provides users the easiest and safest way to buy and sell Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Stellar in Canada. Assets held by Coinberry are not eligible for Canadian Investor Protection Fund coverage.
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