Hshare cryptocurrency guide advises where to buy and how to buy Hshare. This guide also contains the markets, value, trading, investing, buying, selling, transactions, blockchain, mining, technology, advantages, risks, history, legislation, regulation, security, payment, networks and many other interesting facts about Hshare as well its status in the world of cryptocurrencies.
Hshare, Tuesday, 2018-08-14
- 1 What Is Hshare?
- 2 Beginner's Guide to Hshare
- 3 Where and How to Buy Hshare?
- 4 Hshare Markets
- 5 Where to Spend or Use Hshare?
- 6 How Does Hshare Work?
- 7 Hshare Regulation
- 8 Is Hshare Secure?
- 9 History of Hshare
- 10 Hshare Videos and Tutorials
- 11 See Also
Hshare is a cryptocurrency network designed to take the blockchain technology to the next level. The new cryptocurrency is created to make it possible to send value between blockchains and even blockless networks. This means that if a person in one network such as Bitcoin wants to send value to another person in Ripple will not need to join the two networks. Hshare supports DAO governance, Quantum resistance, and even private transactions.
By November 2017, Hshare had grown progressively to number 14 on the CoinMarketCap and hit $221.9 million that thrust it to position 55. This growth attracted both support and criticism in equal measures. The value has continued to grow and draw even more supported in 2018. While the supporters indicate that the value growth is a great step that will take network to the next level, the skeptics think it is overvalued. Some claim that the network has targeted a very large area that could eventually become too weighty.
With more people coming out to join cryptocurrencies, the demand for inter-chain operations can only grow. This means that the Hshare network value can only grow. This post is a comprehensive assessment of Hshare to establish how it works.
Are you planning to join the cryptocurrency industry? One of the most crucial things is to select a high potential network that can help your investment grow over time. One of the most promising networks in the market is Hshare.
Hshare is a cryptocurrency network that is designed to help promote cross-chain communication. This means that users on one network will not need to join another network to send value. The network also targets to advance blockchain technology by adopting the quantum computing is that is considered more secure and efficient compared to standard computing.
Though the network is currently regarded as one of the high potential models in the market, it is advisable to start by comprehensively reviewing it to establish how it works. This is why this guide was created. It is designed to help you dive deeper into the Hshare system to establish how it's features , where to buy, how to sell, and much more. Welcome to learn more and get all the questions you had about Hshare answered.
When many people hear of Hshare and its design, the first thing that crosses their mind is how to join the network. You can mine the network or ask your payers to make payment in Hshare Coins. However, the direct and easier method of getting Hshare coins is purchasing them. Here are the two main methods of buying Hshare.
- Buy from the exchanges: The exchanges are the primary platforms for purchasing cryptocurrencies and other digital assets. Unlike the cryptocurrency native networks that are decentralized, the exchanges are centralized. They are also operated under the local laws of the jurisdictions they are registered in. This implies that they operate in many respects like the standard forex markets. To buy from these exchanges, you will need to open a trading account and verify it. Two great examples of these exchanges are Binance and Cryptopia.
- Buy from those who already have the Hshare coins: The fast-growing popularity of cryptocurrencies has resulted in people forming clubs that help them understand the cryptocurrencies. Now, the clubs have become important points for people who want to buy crypto assets to meet potential sellers. The good thing about clubs is that they are flexible and not bound by strict rules such as the need to open trading accounts. For example, you can agree with the seller for payments to be effected via cryptocurrencies or fiat currencies. A good example of such a club is the Cryptocurrency Club of Melbourne.
Are you planning to join a cryptocurrency network? One thing you must have is a cryptocurrency wallet. This is the location that will hold your coins after the purchase process is completed. The wallets work using a set of codes that point at your coins in the cryptocurrency network
The first code stored in a Hshare wallet is the private keys. This code is very important because it calls the tokens to live when making transactions. This code is private and should never be shared with third parties. The second code generated and stored in a wallet is the public keys. Unlike the private keys that point at your coins, the public keys point at your wallet. This implies that those who want to pay you in Hshare coins should be given the public keys.
The last code generated by the wallet is the seed phrase. The seed phrase is used to regenerate the private keys in the case of a loss. It is very important that the seed phrase is stored well because it might be the only option to help you recover lost Hshares. The main wallet for the Hshare network is the Hshare wallet.
Do you have cash in your credit card and want to purchase Hshare? The process can be completed in two stages. This is because most cryptocurrency exchanges that list Hshare do not accept credit cards. Therefore, you need to start by buying another cryptocurrency such as Bitcoin from a platform such as Changelly that accepts credit cards. Then, use the coins you have just bought to buy Hshare coins at the exchanges that list them such as Binance.
There is no direct method that can be used to purchase Hshare with PayPal. PayPal has been discouraging payment to cryptocurrency networks because they are considered direct competitors. Therefore, those with cash in their PayPal accounts can only buy Hshare by first withdrawing to credit cards or their bank accounts.
Banks are some of the most trusted institutions in the globe today. Many people trust them because they are run professionally and strictly adhere to the rules in the respective jurisdiction where they are based. To buy Hshare with Bank’s wire transfer, you will need to follow the following process.
- Start by acquiring a Hshare wallet. This is the location that will hold your Hshare coins after the purchase process is completed.
- Acquire an alternative coin such as Bitcoin from a platform such as CEX.io. This is important because most of the exchanges that list Hshare such as Binance are cryptocurrency only platforms.
- Select an exchange that lists Hshare such as KuCoin and create an account. You will also need to verify the account before the purchase can be commenced. Then, use that account to select the quantity of Hshare coins to buy and select pay with Bitcoin.
- Note that after the transaction is completed, the Hshare coins are directed to your trading account. This implies that you will need to move the coins from the exchange to the wallet where they are safer and you have greater control.
If you have been in the Hshare network and want to start trading the native coins, you need to identify the right platforms. These platforms operate the same way that forex markets work but deal with cryptocurrencies as opposed to fiat currencies. At this point, you need to appreciate that these trading platforms are the softest underbellies of the cryptocurrency networks.
Take a look at the top hackings and losses that have taken place in the history of blockchain operations and the chances are that they happened in trading platforms. From Mt. Gox hacking of 2011 to the recent attacks at YouBit, the attacks take place in the trading platforms. This results in one major question; how can one identify a secure and reliable Hshare trading platform? Here are some useful tips.
- Go for the trading platform that has good community supports because of its unique features and efficiency. Visit communities such as Bitcoin Talk or Reddit to see what they have to say about the preferred platform.
- Identify the exchange that has low transaction charges so that you can keep the bulk of the profit.
- Only go for the platform that has advanced security features to guarantee users of utmost security for their digital assets. Some features to look for include 2-factor authentication and use of cold storage.
- The ideal platform should have advanced features that allow users to easily follow the market movement in order to make the right moves.
Some of the top cryptocurrency exchanges that allow users to trade and sell Hshare include Binance and Gate.io.
One of the main reasons for the fast development of decentralized networks was to lower the transaction charges when sending value from one point to another. Hshare has not disappointed on this. Though the development team has not come out to give the actual transaction charges, it is cheaper compared to the top networks such as Bitcoin and Ethereum because the value of the native coins is still low.
The cryptocurrency market has been growing rapidly since 2009. This is mainly driven by the fast-rising popularity of blockchain related products and services. The Hshare markets are designed to bring together buyers and sellers so that trade is driven by the market forces of demand and supply. Here are the main Hshare markets you should consider.
Binance is one of the leading crypto markets in the globe today. It was created in 2017 to help pull down the cost of trading crypto assets. The founder, Changpeng Zhao, also wanted to provide users with a platform that makes trading easy and guarantees them great security. To achieve this, the platform launched its native coin, BNB (Binance Coin).
The transaction cost at Binance is only 0.1%. This means that it is one of the cheapest markets out there. In addition, you can enjoy lower rates by trading Hshare for BNB and paying the transaction fee with BNB. If you pay the Binance transaction fee with BNB, you cut the cost by 50% This implies you will only pay 0.05% for the transactions.
To help provide traders operate profitably, Binance lists very many assets. The exchange has both old and newer assets such as Bitcoins, Zilliqa and VEN so that you will always have a profitable pair to shift to if the current ones prove less desirable.
The primary disadvantage of using Binance is that it is a cryptocurrency only trading platform. This means that those people who have fiat or credit cards cannot use the platform directly. Instead, they have to start from other platforms which make the process longer and expensive.
Cryptopia is a cryptocurrency market based in Christchurch, New Zealand. The market was created in 2014 by Clark Adam and Dawson Rob. Their focus on designing the market was to help traders enjoy many functionalities and digital assets. This approach has made the platform become one of the fastest growing markets in the market.
Unlike other exchanges that only allow users to trade using cryptocurrencies, Cryptopia is different. Users are allowed to make payment in fiat currencies. If you are in New Zealand, you can make deposit to the network using New Zealand Dollars. However, other currencies are not supported. This makes the market to appear highly localized.
The transaction charges at Cryptopia is 0.2%. Though the network indicates that this is within the market range, it is still very high especially if you compare it with others such as Binance that charges as low as 0.05%.
To help traders enjoy new assets when they emerge before growing in value, Cryptopia is among the first to list tokens. However, this approach is considered very tricky because it can easily result to the listing of scams and ultimately causing a lot of losses. The market has more than 400 tradable digital assets that users can pair with Hshare coins.
The exchange provides advanced metrics that allow users to easily evaluate the market and make the right investment decisions. In addition it links users to a marketplace that allows them to make direct purchases from the market.
KuCoin, like Binance, is another fast-growing platform that is based in China. The platform was designed to help users get access to a very large number of tradable assets. Indeed, the exchange has been very aggressive in listing the new assets that are added to the industry through ICOs. This was the reason why it was quick to list assets such as Bitcoin Diamond when other markets such as Bittrex were turning them away. However, this approach can also be risky because some new assets released through ICOs have turned out to be scams.
The transaction cost at KuCoin is 0.1%. This makes it one of the cheapest options out there. Whether you are trading Hshare coins for older cryptocurrencies or newer assets, KuCoin is a great option. The market also provides advanced trading metrics that allow traders to follow the market closely and make the right decisions.
Like Binance, KuCoin is a cryptocurrency only platform. This means that you cannot use it with credit cards or bank transfers. If you have cash in the bank, the process has to start from another platform such as Changelly.
Gate.io is one of the cryptocurrency only markets that have been attracting a lot of following. The market was created by Gate Technology Inc in 2017. The main goal of the exchange is simplifying the trading system for all traders. One of the main strengths of the market is its low cost for every transaction.
To use the platform, you only pay 0.2% of the traded volume. The deposits are not charged but the withdrawals attract an additional charge. Though the company indicates that the charges are low, the market should consider pulling it further down to reach the levels of other markets such as Binance.
Since inception, the exchange has put a lot of effort into securing the network. The bulk of the Hshare coins for clients are secured in a cold storage so that only a small quantity is available for direct trading. More tokens are drawn from the cold storage on demand to reduce the risk of attackers gaining direct access. Other strategies employed in the market include two-factor authentication and multiple login passwords.
To make trading easy and direct, the platform features advanced trading features. These include trading history, order books, and advanced charting that help you to follow the performance of specific assets to pair with Hshare. If you are always on the go, the platform allows you to follow the market and trade from its Android and iOS mobile applications.
Many people who have used Gate.io gives its customer support thumbs up. They have multiple channels of support such as FAQ page, good presence on social media, and direct customer ticket. This implies that you can also join its community to learn more.
Hshare is one of the top 100 crypto networks in the market today. The value of the network has grown steadily since inception to reach a market capitalization of $216,694,576 at a price of $5.02 on July 2nd, 2018. This means that Hshare is more valuable than many other networks including Ardor, Komodo, and KuCoin Shares.
A closer look at the price of Hshare reveals that it has been on a negative drift between mid-2017 and mid-2018. In mid-August 2017, the price of Hshares was $18. After about a year in the market, the value has grown down to the current price of $5.0 by July 2nd, 2018. This means that those who invested by then actually incurred losses.
Despite this negative trend, the community is optimistic that the price and value of Hshare will start growing and ultimately deliver high ROI (return on investment). To achieve this, the development team will need to work on more enthralling features and keep the network free from attacks.
While the Hshare model has attracted interest from a lot of corporate organizations, no store had come out to indicate it accepts payment in Hshare. This means that Hshare development team has its work cut out to convince the market to accept it. The team has to target outdoing other top networks including Bitcoin and Ripple that have been performing very well in the market.
Hshare can grow into a major payment network. Unlike other cryptocurrencies such as BNB that are designed to only facilitate payments in a specific network, Hshare is different. It is crafted to help all networks use it to complete payments seamlessly. This puts it at the front of becoming a major payment network because people who do not want to join two networks can use it to complete payments.
Many companies have been coming forward to indicate that they want to use the network because of enhanced interoperability. This coupled with high scalability of the Hshare system indicates that it is one of the top networks that could easily rival Bitcoin.
Remember that to grow into a major payment network will also depend on other factors such as the looming regulation and competition.
The design of Hshare was aimed at ensuring that both block-based and non block based networks can use it to effect payment. This means that the development team had to adopt more effective technologies that go beyond what was in the market by 2017.
- Hshare design for blockchain and directed acyclic graphs
If you take a closer look at the common networks such as Bitcoin, mining is the main method used to create new blocks. However, these networks are highly specific and cannot link or communicate with others. Now, Hshare system seeks to address this through sidechains and DAG currencies. This will be effected through blockchain based system and directed acyclic graph (DAG) system that allows users to send and receive funds across the networks.
- The hybrid model of merges POS and POW consensus systems
To make Hshare a better system compared to the current networks in the market, the founders combined the proof of work (POW) and proof of stake (POS) consensus models to create a highly efficient hybrid model that is faster, reliable and more secure. This implies that to participate in the network consensus building such as voting and confirming transactions, you will require high computing power and some stake in the network. Unlike the POW only model that takes a lot of computing power or POS algorithm that gives preference to those with a lot of cash, the hybrid model helps with fair distribution of coins.
Hshare employs blockchain technology. The target is ensuring that users spread in the network can operate on a peer2peer basis without involving centralized authorities. However, the design of the Hshare network also targets to make payment to other blockchains easy and secure. However, the development team is also casting the eyes well beyond the blockchain horizon by adopting quantum computing. Here are some of the main features of the Hshare blockchain.
- Quantum Protection: The quantum computing was adopted in the Hshare system because it is considered a more stable and less prone to hacking. Hshare has initiated quantum resistance functions to keep the network extra secure and edge it well ahead of other networks.
- Sidechains: The Hshare is built on a hive function that features dual sidechains. This means that the blockchain can connect and communicate with others to help transfer value without compromising users’ security.
- High-level privacy: The Hshare team was very concerned about the fading focus on anonymity by other networks. Therefore, it combined the private and public keys together with zero-knowledge proof technology to enhance security and anonymity.
Mining is the process used by most networks to release crypto coins to the market. Because Hshare is a hybrid system of proof of work and proof of stake models, it means that mining will require users to generate high hashing power with their computers and holding some stake in the system. Consider using advanced mining graphic cards and an appropriate mining software to be selected to mine the next block.
While the blockchain technology has become the center of most organizations and startups, one missing link that has persisted for years is the inability to link different crypto platforms. Now, Hshare has created a solution that makes it easy to link between different networks without the user having to join the targeted networks. Here are some of the top benefits to anticipate after joining the Hshare system.
- It operates as a hybrid system that builds the existing blockchain technologies. The Hshare combines the benefits of the proof of work and proof of stake algorithms to make it better than most networks out there.
- As a decentralized network, Hshare has provided users with a great platform to operate on a peer2peer basis. This means that running transactions such as sending value is faster and cheaper compared to using centralized organizations.
- Hshare provides a good cover to invest without worrying about third-party seizures. As an anonymous network, you can easily trade or hold the native coins waiting for value to grow.
- Hshare allows people to use and own the network. Unlike banks that make clients feel passive, Hshare is different. Once you join the network, you become part of the owners who are relied on to build consensus and decision making.
- The network uses a highly simplified governance system that makes decision making easy and direct. The voting authority of the nodes is dependent not just on the hashing power of the equipment being used, but also on the stake one has in the network. This is important in promoting better distribution of the native coins.
- The Hshare community has been growing steadily. This indicates that the future prospect of the cryptocurrency is positive. If the development team can maintain the same growth rate in the coming years, it is likely to equally grow in price.
While a lot of people have been talking about the positive side of Hshares, you need to go a step further before making a decision to join it or not. You need to compare the advantages and the risks. Here are the main risks to expect when using Hshare.
- The risk of getting attacked by hackers. Like other crypto networks, Hshare is also faced by the looming threat of attacks from hackers. To stay safe, you need to exercise caution when trading and storing the coins.
- Hshares is one of the newest networks in the market today. This implies that most of its features are still being tested and will take time before their stability can be ascertained. In most of the networks, a period of about five years is needed.
- The threat from the looming regulations. Most administrations have threatened to pass harsh regulations because they feel threatened by the fast-rising popularity of cryptocurrencies. If they live to their threats, there is a great risk of Hshares value and growth receding. It could even fade off completely.
- Danger of more advanced network joining the industry. The main reason that has made Hshares value to shoot up very fast is because it is seen as a better network compared to others such as Ethereum and Bitcoin. If more advanced networks are introduced into the market, Hshares could lose its popularity and growth.
- The network is supported by very few wallets. Though this could be a precautionary measure, it greatly limits people's ability to choose. Many people have been asking for the network to open its doors to other wallets such as Ledger Nano S.
- The price of Hshare has been on a negative trend since inception. A closer look at the Hshare network reveals that its price has been on a downward trend. It started at close to $30 in the third quarter of 2017 but fell progressively to less than $5 by mid-2018.
Every other day, people give their stories of how they lost cryptocurrencies. To avoid cases of loss, it is important to appreciate what happens when such losses take place. One thing you need to appreciate is that the native tokens cannot leave their networks. This implies that even when you lose the coins, they are still in the network but under a different owner.
- If you lost Hshare through damage to the wallet or forgetting the private keys, it implies that the coins are still in the network but in a dormant state. You can recover this through reinstallation of the wallet or recovering the private keys.
- For those who lose their Hshare through hacking or sending to the wrong address, it implies that they are still in the network but under a different owner. The transaction is considered complete and irreversible.
The topic of cryptocurrency regulation is a complex one. Since 2009 when the first blockchain network was launched by Satoshi Nakamoto, the industry has operated under serious suspicion from the governments. Most administrations feel that the fast growth of cryptocurrencies is out to usurp powers from them. In the European Union, the EU Commission is worried that cryptocurrencies pose very serious threats for investors. They are volatile and can result to a total loss. But it is not just the EU that has a problem with cryptocurrencies.
In the United States, the federal administration was among the first entities to note the dangers associated with cryptocurrencies such as Hshare. The administration indicates that cryptocurrencies provide an easy avenue for fraud and tax evocation. They are considered the next most serious threats after Swiss accounts. China, India, Canada, and the UK are among other jurisdictions that feel seriously threatened by the fast growth of cryptocurrencies.
The interesting thing about cryptocurrencies is that jurisdictions do not appear in a hurry to pass regulation. Here are the some of the reasons why many countries are finding it extra difficult to pass crypto related regulations.
- The blockchain networks have provided a reliable platform for solving many problems such as Big Data and high cost of sending money that have been very stressful for many years.
- Most cryptocurrency networks such as Hshare are not owned by any single party. Rather, they belong to users spread in the network across the globe.
- The blockchain technologies are molting rather fast. This has made most administrations to play catch-up without understanding where exactly to start.
- Cryptocurrencies are the apex of the fintech niche. This niche has grown to the current level through support of most administrations. Therefore, it is very difficult for most administrations to stifle the systems they started in the first place.
One thing you need to appreciate is that though these laws have indeed taken long to get into place, they will finally dawn. Therefore, the focus should be what to do when they finally arrive. Indeed, many administrations are at different stages of passing and implementing crypto related regulations. Take a look at the next section to learn about the legal status of Hshare in different jurisdictions.
The legal status of Hshare depends on individual jurisdiction. At this point, it is important to appreciate that many smaller jurisdictions look at the direction taken by the bigger administrations such as the US, Russia, the EU, and China. For example, the draft law released by Russia in January 2018 has become a reference point for many administrations. Here is a closer look at several states and their stand about cryptocurrency regulation.
Russia is one jurisdiction that had made clear its purpose to regulate cryptocurrencies such as Hshare. This stand was only taken early in 2018 when the ministry of finance indicated that it was impossible to tell whether those accepting payment in cryptos were breaking the law. Prior to that, the Russian authorities had adopted a hands-free approach on cryptocurrencies.
By the close of January 2018, the ministry of finance and the central bank released a draft digital financial assets bill that focuses on all areas of blockchain applications. The draft law starts by defining digital assets as either cryptocurrencies or tokens. In addition, it classifies them as properties. This implies that they are not legal tenders and cannot be as a means of payment.
The draft law goes further to outline strict rules for release of digital assets. It requires that only a registered entity can be allowed to release digital assets. If you are planning to issue tokens through an ICO, things are bound to get very difficult if the draft bill becomes law.
The issuing entity is required to follow strict verification and assessment procedures to ensure that only the right price is fixed. This is aimed at countering fraud and reducing the risk of investors losing their money.
On trading Hshare and other digital assets, the draft requires that only registered exchanges are allowed to list and trade cryptocurrencies. These exchanges are further required to closely follow their clients through strict know your customers (KYC) strategies.
The government insists that once the draft becomes law, it will be a great step towards protecting investors. The bottom line to this law is ensuring that all those running cryptocurrencies, issuing tokens, trading, and even mining are known so that they can pay taxes and avoid fraud.
2) The United States
Unlike Russia, the United States is one country that does not have a clear roadmap for installing a cryptocurrency regulation. By 2018, about 10 years after the release of the first blockchain, the US had only been issued clarifications on how users should treat cryptocurrencies. The Commodities Futures Trading Commission (CFTC) clarified that all cryptocurrencies such as Hshare and Bitcoin be treated as commodities. This clarification was meant to help people understand their tax obligations when it comes to cryptocurrency trading. But the approach never worked because only a very small number of people in cryptocurrencies pay related taxes in the US.
In January, the US opted for a shift in its approach to cryptocurrency regulations. The federal administration reached Japan, China and South Korea that have some of the highest global cryptocurrency populations. The target of the US administration is to attack cryptocurrencies from the global perspectives so that growth can be contained with ease at the local level.
With the federal administration not appearing in a hurry to provide a clear legal guideline, individual states have started moving on. In Arizona, HB 1091 was passed in April to facilitate payment of taxes in cryptocurrencies. The law allows users to pay for taxes in Hshare, Bitcoin or other digital assets. Once such payment is effected, the coins are converted to US dollars and credited to the payer's tax account.
Now, more states and even countries have started studying this law and watching the applications with a view to implementing similar systems back at home. For example, New York and Georgia have started the process of crafting similar frameworks.
While cryptocurrencies appear to send jitters to some countries, it is interesting that Venezuela has actually installed a national blockchain. That is right. The country under the leadership of President Nicolas Maduro has demonstrated that it is willing to march right ahead with blockchain support. A closer look at Venezuela demonstrates that the country is actually not being pushed to use blockchain for love of cryptographic solutions.
Venezuela under the leadership of President Maduro has become the center of human rights violations. These violations have resulted in massive sanctions from international communities and even individual states. Now, the blockchain technology has given Venezuela a new lifeline because it can trade its oil products anonymously.
After effectively implementing the petro cryptocurrency, Venezuela is now working on making the crypto a legal tender. In April 2018, the parliament adopted the presidential decree that all ministries start using thee petro cryptocurrency. This will open the economy to further trading and payments getting effected through cryptocurrencies.
Other countries are now turning to Venezuela as a case study. Even those that had all negative considerations about blockchain technologies are now changing their minds after seeing Venezuela implement the petro blockchain.
Switzerland is one jurisdiction that has trained its focus on growing cryptocurrencies. The Swiss administration indicates has indicated that it has been working with the finance organizations and the blockchain technologies represent the apex of those efforts. The economics ministry indicated that it will use all available avenues to make the country a crypto nation.
The government has started by creating an ICO working group that will give recommendations for tech-neutral legal frameworks. The team is expected to give the recommendations for implementation by the close of 2018. One thing that comes out clearly when it comes to Hshare and other crypto regulations in Switzerland is that the jurisdiction will always be home.
One of the primary characteristics of most cryptocurrencies is cryptography. This technology helps to encrypt user's details so that no third party can easily pull them out. Now, this anonymity is now being seen by the cryptocurrency community as a perfect cover to hide from authorities including tax agencies. But wait a minute.
In the United States, the number of people who pay tax related to their crypto trading is very small. Other countries with similar problems include Russia, the EU, China and Austria. Indeed, this is one of the primary reasons why most administrations have been pushing for harsh cryptocurrency regulations.
Tax experts sharply differ with many people who indicate they can use cryptocurrencies such as Hshare to live without paying taxes. When blockchain technologies were discovered, the primary goal was not to help people avoid paying taxes. Rather, they were meant to help them pull down the cost of sending value and introduce a new way of doing things.
Even though cryptocurrencies such as Hshare allows users to operate anonymously, the cover cannot last forever. When newer technologies are discovered, decrypting the details of your account could become as simple as a mouse click. This could open a floodgate of lawsuits related to tax avoidance. But it does not have to be this way because you can use the following tips to operate without breaking tax related laws.
- Treat all revenue from Hshare as taxable income.
- Include the details of trading Hshare when filing annual returns. This means capturing the detail no matter whether the trading was profitable or not.
- If you feel inadequate to put your books in order when filing returns, especially if you accept payment in Hshare, do not hesitate to seek the assistance of an expert.
Hshare does not have consumer protection. The founders of the network ceased operations when they released the network. What this implies is that you are on your own when operating on the Hshare network. If something happens, there is nowhere to report to. For example, if you send Hshare coins to the wrong address, there is nowhere to complain to. It is even worse because you cannot seek help from a court of law because Hshare and other cryptocurrencies are not regulated. To operate safely on the network, here are some useful tips to apply.
- Keep the private keys and the seed phrase safely and away from the main computer.
- Only use cryptocurrency trading platform that has been proven to offer optimal security to users.
- Avoid visiting risky websites that can give attackers an easy access to your account.
- When sending Hshare, ensure to triple check the public address of the payee.
The anonymity of cryptocurrency networks has made them highly attractive to criminals. They hold the view that if they defraud people, the anonymity will help to shield them. However, no illegal activities had been reported with Hshare by mid-2018.
Hshare is a very secure network. The network development team puts a lot of effort to secure the network and building the trust of the community. Here are some of the top methods used to keep the network secure. The network secures users' assets through a combination of POW (proof of work) and POS (proof of stake) consensus models. This implies that you will need to have some stake on top of the ample hashing power to be able to confirm transactions. It also facilitates better distribution of Hshare coins to reduce the threat of 51% attack.
The development team has also been very aggressive in identifying gaps in the network and sealing them to keep the network safe. For example, it has adopted quantum computing that is considered more secure compared to the standard computing used in cryptography. This agility is what has helped to progressively improve the network has helped to keep it free from hackers completely.
One of the most sought-after quality of cryptocurrency networks is anonymity. It is used to guarantee users that their transaction details cannot be easily revealed. At Hshare, anonymity is achieved through zero-knowledge proof technology. Under this technology, users are allowed to reveal some details required to validate transactions without revealing personal identity. The technology has been demonstrated to be highly effective in other networks such as Zcash.
No, Hshare has never been hacked. Though the cryptocurrency is relatively new, its development team has been active in identifying bugs and fixing the network before hackers can gain access. Note that this does not mean that the network is not targeted by hackers. The development team reports that hacking attempts are noted every now and then but they are never successful.
If you lose Hshare coins, there is a possibility that you can restore them depending on the nature of loss. If the loss happened through damage to the wallet, it implies that the coins are still in the network under your signature. Therefore, you can restore them by reinstalling the wallet.
For those who lose their Hshare coins by forgetting the private keys, restoration is only possible by regenerating the keys. This is done using the recovery seed phrase. What this indicates is that you will need to be amply prepared well before the loss takes place.
Note: If the loss happens through hacking or sending to the wrong address, it is permanent. There is nothing that can be done to recover the coins.
As more cryptocurrencies keep joining the market, people targeting to join them are finding it rather confusing. They have to review the systems and gauge the expected future performance. In most of the cases, the networks are using the same technologies and the results are only slightly different. However, Hshares has won trust from the community because of its unique design and structures. Here are additional reasons why more people have a lot of trust in this new cryptocurrency.
- The network is an improvement of the top two consensus models in the blockchain industry, proof of work and proof of stake. This is the reason why it is marketed as a better option compared to others that use either of the two model in the market.
- The network has managed to solve the problem of cross-chain communication that had refused to go away for many years. This means that the Hshare network is more valuable because it can be used by more people in different networks.
- The network has been attracting the interest of businesses especially those that expect payment from different networks. This has made work easy because you do not need to join two networks when making payments.
- The development team oat Hshare has been very aggressive in identifying threats and thwarting them. This is the main reason why the network has never been hacked.
- The network has received very positive publicity. Starting from inception, the development team has done a lot of work in demonstrating the better side of the network. This is one of the reasons why its community and value have been growing steadily.
The history of Hshare can be traced back to mid-2017 when the founders decided that a new method that would help to protect the users from the rampant threat of attacks and facilitate cross-network transactions was necessary. Hshare coin was introduced into the market in August 2017. By then, the price of Hshare coin was $20.28.
In August 2017, the value was $20.28 which was not a bad entry because many are the cryptocurrencies that entered the market below one USD mark and still remain there. This high value of Hshare at this point was driven by the positive publicity that characterized the network in its early days. Then, it shot up to $41, the highest mark in its history by August 28th, before taking a sharp decline to $5.0 in September 21st, 2017.
Between September and December 2017, the value grew further because of the rush from the community that saw most of the networks including Bitcoin reach their highest marks. In December 22nd, 2017, the value of Hshare hit $30. Then, it took a steady decline and settled at the current price of $5.0 by early July 2018. It will be interesting to see how the price will grow in the coming months.
Hshare was developed by a team of cryptographic experts, Dallas Brooks, Andrew Wasylewics and Khal Achkar from China and Australia. Dallas serves as the Chief Executive Officer, Khal Achkar as CTO and Andrew Wasylewics as the network business development manager.
To make the project more aggressive and active, the development team partnered with the Shanghai Jiao Tong University (SJTU), Australia’s Monash University and Hong Kong Polytechnic University. Though the team is believed to be larger, little information is provided about the other.
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