In this video I’m going to be going over a coin that has been flying under the radar.
It is one of the only coins that has held it’s price and continually hit all time highs.
Hey there! Hope you’re doing super well in this video we’re going to go over a coin that has kind of been flying under the radar but has caught my attention because of its price action it is one of few coins that has not dropped and has continued to hit all-time highs as almost the entire market has dropped 50, 60, 70 even 80 percent so this coin is something that is really a competitor to bitcoin.
So if you’re looking for a project that could be a an alternative to bitcoin or at least a hedge to holding too much assets in bitcoin this may be something for you to look into so I’m gonna go ahead and hop into a screen share and share with you this coin its metrics its value and also the founder behind the coin which I think is literally hilarious it’s one of my favorite parts of it so let’s go ahead and jump into a screen share project.
I’m speaking about is hex so you can go to hex.com and get all this information but what it is is it is a coin that’s somewhat of a competitor to bitcoin but it’s really a competitor to a traditional finance vehicle called the certificate of deposit so you may have heard this at banks called CD’s right.
When you go to a bank and you actually deposit money you can deposit through a cd and then you get paid interest every year because you deposit money with the bank it’s just another financial instrument and technically investment that you make but I think it’s a terrible terrible investment because you make like two to three percent a year and you’re well at this point you’re not even keeping up with inflation.
So I think CD’s for the most part are pretty much the dumbest thing ever but hex is replacing that and making it better because of the economics behind it the problem with CD’s is like okay then you’re getting back USD which we have no idea how much USD is printed it’s the ultimate crap coin because USD who knows what the supply is right.
The government wants to print 17 trillion this year okay go for it right there’s no governance no one decides on that it’s just like or the authority behind the federal reserve just makes the decision oh we’re going to print trillions and then guess what your money gets devalued so if you’re not earning a higher rate than what the inflation rate is you’re actually losing value that’s what a lot of people don’t understand.
So what hex does is first of all they have a control on how much they they mint and and then the vast majority of people are staking because the high that has such a high return on average you can see here it’s earning 40 and you get a lower rate if you’re staking at a less period of time you get a higher rate if you’re staking at for a longer period of time.
Now I believe this 40 percent is their average is right around five and a half years for their stakers and I’m pretty positive don’t quote me on this pretty positive that over 90 of the holders are staking so like the vast majority of hex is staked by the way you cannot go buy hex on any exchange you have to swap it through unit swap v2 which you can see they have it right on their website so you can connect your wallets right.
Here on hex.com and actually swap here but if you want to stake which I’ll probably shoot another video but I’ll show you briefly you would use metamask which is you know a wallet you can put on your mobile phone but you actually need it on chrome in order to stake on on hex.com another thing that caught my eye about hex which actually was the first thing before the even the price chart was the owner so his name is Richard Hart and you guys should go watch some of his videos they’re hilarious if you don’t like cuss words and stuff I mean maybe you don’t watch them but he if you go like listen to him debate other crypto enthusiasts.
He just destroys them so he is a very very knowledgeable guy and what I look for is you know people I look for utility in in coin metrics and you know I think the utility kind of is there to be honest because of just it’s just trying to be a cd and a better cd I also think the metrics are there and then you know the owner behind it is is very convicted.
He’s very knowledgeable and you can tell how much he actually believes in the project and he does actually care about creating more value for people because you can go back in history and watch a lot of his different videos about what he actually talks about and cares about but you guys should go watch some of his videos.
You’ll probably get a laugh from him he’s kind of a character and I think he’s gonna blow up here over the next few years and yeah this was one of the main reasons really that got my attention and also made me think okay this guy really believes in what he’s doing and that’s ultimately what I’m looking for and what you know big investors and successful investors look for and say does the owner of the company or project really have conviction and have they been successful previously and Richard has been all of those things.
I’m not going to go into every single detail about hex but you can see like this is what they’re trying to compete with certificate of deposits and make it better just make it a better vehicle right crypto is changing so much about finance and hex just wants to change a small thing which is like hey let’s protect value right.
That’s what bitcoin has traditionally done if you look at the white paper of bitcoin it was meant to be a peer-to-peer currency it’s really being used as a store of value all of a sudden these other countries are starting to adopt it as a legal tender so now it’s starting to be actually put to use on its real use case hex is just trying to replace the cd.
They just want to protect your value right so this is just something that you’re buying and holding and compounding to protect your own wealth right so this is a form of a store of value that’s why I mentioned a little bit of a competitor to bitcoin but not really right.
I think it’s a nice little like hedge if you have if you’re extremely allocated towards bitcoin I’m going to show you the chart it is ridiculous and I’ll show you what really caught my caught my head or my eye but anyways the inflation rate’s about three percent a year so it does inflate but here’s the thing is you far outpace the inflation rate.
If you’re staking and also the value has gone up so much because there’s so much demand and little supply because the majority of people and by the way the staking is spread out so you may be thinking okay what if all these stickers just like cash out at the same time it’s actually very very well spread out and you can clearly see every when every stake is coming due and you can clearly see exactly what’s going on with all the staked assets which I believe over 90 of it is actually staked.
So if as long as you you know as far as like the inflation rate goes here’s how they do it when you actually stake the coin they are burning some of the coin that you’re staking and then when you actually mint or when they mint coins that’s only done at the very end of your steak so for an extended amount of time they have burned the coin and then it comes due again at a later period of time and like we mentioned it pays on average 40 and I’ll show you the chart here in a second it is pretty pretty ridiculous.
So let’s see yeah 203 thousand addresses 61.9 billion hex staked has a 49 billion market cap so that was something I was a little bit confused about which you can see yeah hex daily payout let me show you the chart real quick so this is what originally caught by I okay so when I was looking at you know a bunch of different altcoins and what I could buy at a discount and then I run across hex.
I’m like hey what like look at the Val look at this it has barely even gone down all these other coins have gone down 50 60 70 80 when we had this bitcoin correction of 55 and hex has held its value and the reason why is because the vast majority of it is staked number one number two the holders are just holding it because they just wan they just want appreciation over time which is completely okay.
A lot of people frown upon that I think it’s I think there’s actually a use case here for it I used to be on the other side of the spectrum you used to think it was dumb but I do see a use case for it just as a store of value to as a competitor to a traditional certificate of deposit and also hex is not on the major exchanges so there there’s not like massive institutions that are shorting it right.
It’s only on uniswap and then on bitmart and quick swap so like it’s not even on a massive amount of exchanges yet and it’s already in the top 100 by market cap I’m not sure I don’t know why they don’t they don’t have the market cap yet on coin gecko and it I mean I’m not saying that they’re relying on here but that’s that’s pretty ridiculous if we had a 49 billion dollar market cap then that means that they’re already.
Let’s see whether they’re already that would put them at number four that would put them ahead of Binance coin right now I don’t I don’t really know about that I feel like there would be a lot more talk about going on with with hacks right now but anyways I’ll show you how easy it is to stake so like for me I’ll tell you straight up.
I am I did buy about 20k hex and I am staking it because you know I think there’s still a lot of room to grow I think this a project like this could could really catch on and let me see if I think it’s go I guess I think I staked it on yeah here it is all right so yeah it is go.hex.com steak and what you need to do is have your metamask installed on your chrome browser and then you can stake hex what you would do is just literally input the amount of that you want to stake and then you can type in what however many days so for me I staked for 2000 days and you know you get a higher rate.
You get a higher interest rate which you would show down here on your active stakes it shows you you know what you earned yesterday and then what your like APY is you get a higher interest rate the longer that you make these days so the longer that you stake the higher of the interest rate that you earn so there’s quite a few wallets that are staking for 15 years right.
So I think like I mentioned the average is about 5.5 years which is quite a long time so that’s a good sign for the price appreciation right so I think hex is a very interesting project let me know what you think about hex down below are you going to be buying it are you going to be staking it if not let me know why and cannot wait to see you here on this next video.