How to Buy Holo in the UK

A Beginner’s Guide to Buying and Selling Holo Cryptocurrency in the UK

Last Updated July 23rd 2021
5 Min Read

If you’re based in the UK and wish to buy Holo – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Holo tokens you want to buy.

Investing in the cryptocurrency market is one of the best ventures today because there is a high-profit potential. Nonetheless, the crypto space also poses a very real threat to your financial assets. Before venturing into this market, you must consult with your financial advisor to know whether you can survive if your investment does not go as planned.  It is also crucial that you seek the advice and insight of an investor with enough experience and expertise in the crypto market. This consultation will go a long way in ensuring that you make the right moves in investing in cryptocurrency. 

There are many cryptocurrencies in the market today, and Holo is one of them. Short for Holochain, Holo runs on a blockchain technology created to mix the smart contract attribute of Ethereum with the firm blockchain qualities characteristic of Bitcoin. Holochain coin also operates on the ‘proof of stake’ consensus mode of operation to verify ownership.

The following is a step by step guide on how you can buy Holo tokens in the United Kingdom.

What's in This Guide?

  1. QUICK GUIDE: HOW TO BUY HOLO IN THE UK
  2. A Step-by-step Guide to Buying Holo
  3. How to Sell Holo Tokens
  4. Which Wallets can I Use to Hold Holo Tokens?
  5. How Holo Works
  6. Key Things to Consider When Buying Holo Tokens
  7. Conclusion

QUICK GUIDE: HOW TO BUY HOLO IN THE UK

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select Holo
  5. Enter how many Holo tokens you want to buy
  6. Check the details and confirm your purchase

A Step-by-step Guide to Buying Holo 

The following guide serves to help you in your pursuit to buy Holo tokens in the UK. With this guide, you are positioned to understand how you can buy, sell and store your Holo tokens. It uses a simple way to explain everything so that beginners and armatures alike can benefit from this material. Follow the following guide to start buying Holo tokens. 

Step 1: Open an exchange account

The registration process comes first and entails providing the requisite information to set up your own private account. Before you commence with the registration process, you must ensure that the exchange account you have chosen can support the kind of transaction you wish to perform. In the case of buying Holo tokens in the UK, the account must support the Holo tokens and the GBP currency.

As part of this process, you will have to provide details such as your name, phone number and email address. You will also have to verify your identity and your location using a government-issued identity card and a utility bill, respectively. The verification process is in compliance with the KYC rules governing exchange accounts. 

The last step in this process entails setting up a password. The password must be unique and strong enough so that no unauthorized persons can access your account. 

Step 2: Deposit funds into your crypto account

Having set up your preferred exchange account, the next step involves funding it with the GBP currency so that you can buy the Holo tokens. You can fund your exchange account using your credit or debit card or by performing a direct bank transfer by linking your bank account to the exchange account. 

Step 3: Buy Holo tokens

The purchasing of the Holo tokens comes next and can be achieved either using fiat currency or using other cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, or Ethereum Classic

To buy Holo tokens using fiat currency, you have to use the GBP currency you have deposited into the account. Doing this entails navigating to the buy section of the account, selecting the GBP/HOLO pair, and specifying the amount of GBP you plan to use to buy the Holo tokens. After that, confirm that you wish to proceed with the transaction. A notification will be sent to your email to confirm that the transaction has already been processed. 

To buy Holo tokens using other cryptocurrencies, simply go to the buy section of the account and select the pair that matches what you have against what you intend to buy. For instance, in the case of Ethereum Classic, select the pair that reads ETC/HOLO, and in the case for Ethereum, select the pair that reads ETH/HOLO.

Step 4: Store your Holo coins in a crypto wallet

Once you have bought your Holo tokens, you have to find a safe place to store them until you start using them. Cryptocurrencies are either stored in hot wallets or cold wallets. The two wallets are broad categories of the many types of wallets that exist and serve in the cryptocurrency arena. The two wallets serve in different ways, an attribute that makes each one of them a preference for different types of investors. Hot wallets store cryptocurrencies online, while cold wallets store cryptocurrencies offline. The former uses apps to store the tokens online, making the tokens easy to retrieve when there is a need. Cold wallets, on the other hand, store tokens offline using USB drives. 

How to Sell Holo Tokens

Selling Holo tokens is just as simple as it is to buy them. You can either sell the Holo cryptocurrencies for GBP or for other cryptocurrencies. To sell, find your way to the sell section of the account and specify the amount of Holo tokens you wish to buy. Next, confirm your intention to proceed with the transaction, and a notification will confirm the process. After selling, you can withdraw the GBP straight from the exchange account into your bank account. 

Supposing you wish to sell Holo tokens for other cryptocurrencies, simply select the pair matching what you need. For instance, HOLO/ETC or HOLO/ETH for the case described above. 

Which Wallets can I Use to Hold Holo Tokens?

You can either hold your cryptocurrencies in a hot wallet or a cold wallet. Hot wallets store tokens online, while cold wallets store tokens offline as described above. 

How Holo Works

Holo tokens are based on DeFi finance, meaning that they operate on a decentralized model. As such, there is no need for a broker to facilitate the transaction. The absence of an intermediary makes the transaction safer, cheaper and faster.  

Key Things to Consider When Buying Holo Tokens

Some of the key things you must consider when buying Holo tokens include:

History

By evaluating the history of a coin, you can predict how that coin will be performing in the next few months when all the other factors are held constant. 

Uses

A coin with more than just a few uses is more valuable than a coin with few uses. Usability is directly proportional to stability. 

Stability 

Make sure you know the level of stability a coin has before buying because this will help you invest in something that will exist for a long time. 

Conclusion 

The description above is a guide to help you buy, sell or store your cryptocurrencies. Before entering this market, you must consult with your financial advisor and ensure to keep the mentioned considerations in your mind before starting this journey. 

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