How To Buy Hooked Protocol (HOOK)?
A common question you often see on social media from crypto beginners is “Where can I buy Hooked Protocol?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process.
Step 1: Create an account on an exchange that supports Hooked Protocol (HOOK)
First, you will need to open an account on a cryptocurrency exchange that supports Hooked Protocol (HOOK).
We recommend the following based on functionality, reputation, security, support and fees:
1
Binance
Fees (Maker/Taker) 0.075%*-0.1%*
Cryptocurrencies
Available for Trade 500+
Sign-up bonus
10% reduced trading fees*
Available in
Europe, Asia, Oceania, Africa
2
MEXC
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1500+
Sign-up bonus
10% reduced trading fees & up to $170 in USDT vouchers*
Available in
North America, South America, Europe, Asia, Oceania, Africa
3
Gate.io
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1000+
Sign-up bonus
Up to $100 in USDT vouchers*
Available in
Europe, Asia, Oceania, Africa
In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.
Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.
Step 2: Deposit funds into your account
Many cryptocurrency exchanges will allow you to purchase Hooked Protocol (HOOK) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.
Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.
Step 3: Buy Hooked Protocol (HOOK)
This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Hooked Protocol (HOOK) or Hooked Protocol (HOOK) trading pairs. Look for the section that will allow you to buy Hooked Protocol (HOOK), and enter the amount of the cryptocurrency that you want to spend for Hooked Protocol (HOOK) or the amount of fiat currency that you want to spend towards buying Hooked Protocol (HOOK). The exchange will then calculate the equivalent amount of Hooked Protocol (HOOK) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of Hooked Protocol (HOOK) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.
How to create a Binance account
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Step 1: Go to the Binance website.
Step 2: On the registration page, enter your email address, and create a password for your account.
Then, read and agree to the Terms of Service and click “Create Account”.
Note: Your password must be a combination of numbers and letters.
It should contain at least 8 characters, one UPPER CASE letter, and one number.
Step 3: Complete the Security Verification.
Step 4: The system will send a verification code to your email. The verification code is valid for 30 minutes. If you can’t find the email in your inbox, check your other mail folders as well, or click “Resend Email” to resend.
How to complete KYC (ID Verification) on Binance
Step 1: Log in to your Binance account and click “User Center” and then “Identification”.
Step 2: click “Start Now” to verify your account.
Step 3: Select your country of residence.
Ensure that your country of residence is consistent with your ID documents.
Step 5: Enter your personal information and click “Continue.”
You won’t be able to change it once confirmed.
Refer to the respective options offered for your country.
Step 7: Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.
Do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient.
Once your application has been verified, you will receive an email notification.
How to buy cryptocurrency on Binance
Step 1: Log in to your Binance account and click “Buy Crypto” and then “Credit/Debit Card”.
Step 2: Here you can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. When you have selected the amount you wish to spend then press “Continue”.
Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.
Step 3: Click “Add New Card”. Then enter your credit card details and your billing address.
Step 4: Check the payment details and confirm your order within 1 minute. After 1 minute, the price and the amount of crypto you will get will be recalculated. You can click “Refresh” to see the latest market price. You will then be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment.
How to Conduct Spot Trading on Binance
Step 1: Log in to your Binance account.
Click on “Classic” under “Trade” on the top navigation bar.
Step 2: Search and enter the cryptocurrency you want to trade.
Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.
(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)
Step 4: If you don’t want to set a manual price, you can place a “Market Order” to set the buying/selling price automatically.
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For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out.
What is Hooked Protocol (HOOK)?
Hooked Protocol is constructing the on-ramp layer for huge Web3 adoption. They achieve this by offering consumers and organizations with individualized Learn and Earn products and onboarding infrastructures so that they may join the new world of web3.
Hooked’s goal is to create an engaging ecosystem of community-owned economies by facilitating and optimizing the onboarding flows for all Web3 pathfinders. Their pilot product, Wild Cash, which offers Quiz-to-Earn and other gamified learning experiences, has already attracted more than 2 million members to the community.
Wild Cash, Hooked’s pilot decentralized application, was released in the third quarter of 2022 as the Web3 community gateway in emerging markets. It was designed to expand the community through massive user adoption based on viral growth and user Web3 transformation, which was accomplished through a gamified crypto learning experience and other built-in Web3 mechanics. Hooked’s goal was to grow the community with massive user adoption.
Earlier this year, Hooked Protocol completed two rounds of private token sales, bringing in around $6 million USD. The estimated FDV for the project is between $30 and $60 million USD. Private sales will get 20% of the total token supply.
The entire amount of HOOK tokens is 500,000,000, and there will be 50,000,000 in circulation once the token is listed (representing 10% of the overall supply of tokens).
In addition to giving clients with a number of attractive incentives, Hooked Protocol also provides customers with a complete range of Web3 onboarding choices to assist in their Web3 transition. Some of these possibilities include the following:
- Hooked Soulbound Token (Hooked SBT): Hooked, which serves as the only digital identity, provides the members of its community with access to the Web3 area by means of the Hooked SBT. This unique token contributes to the development of trust and honesty within the community.
- Hooked Wallet: The first-ever cryptocurrency wallet that the majority of the Hooked Protocol community has created offers an easy-to-use user interface, as well as infrastructure and storage for Web3 assets and upcoming transactions.
- On-chain protocol interactions: Hooked Protocol is able to collect a massive amount of on-chain behavior data because it participates in all of the protocol interactions that take place on the BNB Chain. This opens the door to extensive behavioral analysis and insights and lays the groundwork for the development of communities and ecosystems.
What is the HOOK Token?
$HOOK is the sole liquidity governance token in the ecosystem, and it is intended to represent the value that circulates on the Hooked platform. It does this by having a restricted supply and a controlled emission scheme.
The conviction that others have in the project has a direct bearing on the value of $HOOK over the long term. However, in contrast to $HGT, the supply of $HOOK is fixed and intended to be deflationary.
What is the HGT Token?
Hooked Tokenomics makes use of a segregation approach that applies a single token ($HOOK) oriented structure that is enhanced with an in-ecosystem-only utility token ($HGT – Hooked Gold Token). This structure reflects the true value and enables typical use case functions.
A governance token that indicates the value of the ecosystem in the Hooked protocol is denoted by the symbol $HOOK.
The Hooked Gold Token, abbreviated as $HGT, is the only utility token currently in circulation inside the ecosystem. It offers continuous rewards and motivations to members of the community in order to encourage them to make dynamic contributions.
$uHGT, or the unlocked Hooked Gold Token, is a token that was generated by the system for managing $HGT’s liquidity. Its purpose is to limit the danger of speculative assaults, which occur when the price fluctuation of a token has the potential to harm the network’s reputation and worth.
Main features of Hooked Protocol (HOOK)
- Quiz to Earn – Users participate in an immersive web3 learning experience and earn token rewards.
- Proof of Work & Time (POWT) Mining Game – A mining game that uses traditional Proof-Of-Work features to reward users as they spend time on their platform.
- Social Referal – Users may create their own web3 social network and gain rewards from their social connections.
- Stake & Swap – Users can hold their crypto assets in the wallet, using it for staking and exchange.
Hooked Protocol (HOOK) Tokenomics
Token Type: BEP-20 on BNB Chain
Total Token Supply: 500,000,000 HOOK
Private Sale: 20% of the total token Supply
Community Sale: 5% of the total token Supply
Community: 25% of the total token Supply
Ecosystem/Treasury: 30% of the total token Supply
Team and Advisor: 20% of the total token Supply
Hooked Protocol development updates in 2023
In 2023, Hooked Protocol (HOOK) has made significant progress, focusing on expanding its ecosystem and addressing key areas of development. Here are the most important updates:
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2023 Roadmap: Hooked Protocol published its roadmap for 2023, outlining plans for further development within its ecosystem. The roadmap is expected to cover new utilities and integrations, particularly in the Metaverse and gaming industries. This indicates a commitment to expanding and enhancing the platform’s capabilities in various sectors.
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Token Locking by Development Team: To demonstrate its long-term commitment to the community, the Hooked Protocol development team has locked its HOOK tokens. This move is designed to build trust and stability within the community, especially in response to concerns over the token’s price volatility.
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Development Progress: As of September 30, 2023, Hooked Protocol reported the latest development progress. While specific details of these developments weren’t disclosed in the source, this update indicates ongoing efforts to enhance and expand the platform’s features and capabilities.
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Educational Focus with Gamified Learning: Hooked Protocol continues to revolutionize cryptocurrency education through its gamified learning approach. By combining blockchain technology with interactive, educational content, the platform aims to make learning about cryptocurrencies more accessible and engaging. This approach is particularly beneficial for newcomers to the cryptocurrency world, helping them navigate the complexities of Web3 and blockchain technologies.
These developments show Hooked Protocol’s continued focus on building a comprehensive and user-friendly platform that not only educates but also provides practical tools and solutions for engaging with the blockchain and cryptocurrency space.
Official website: https://hooked.io/
Best cryptocurrency wallet for Hooked Protocol (HOOK)
There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.
HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Hooked Protocol (HOOK)?
Deciding which type of wallet to use depends on a variety of factors, including:
- How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades.
- What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
- Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
- How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
- What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.
For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.
If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.
Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).
Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).
Hooked Protocol (HOOK) Price & Charts
- Market Capitalization And Daily Trading Volume
- Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)
- Circulating And Total Supply
- Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).
