How to Buy Harmony (ONE)

Wondering how to buy Harmony? You can purchase ONE on Uphold or Crypto.com.

As the decentralized finance (DeFi) industry expands, the limitations of single-chain platforms are becoming increasingly apparent. This led to a surge in interest in cross-chain solutions like Harmony (ONE). These platforms enable seamless communication between different blockchains, allowing for greater interoperability and efficiency in transactions. Harmony, in particular, is gaining traction due to its unique architecture that prioritizes fast transaction speeds and low fees. By addressing issues such as network congestion and scalability, cross-chain platforms like Harmony not only enhance user experience but also play a crucial role in the broader adoption of DeFi and blockchain technology. This evolution represents a significant step toward a more interconnected and efficient decentralized economy.

Looking to invest in Harmony (ONE)? Discover how to buy this token with this step-by-step guide and begin your crypto journey today!

How to Buy Harmony (ONE)

Ready to buy Harmony (ONE)? Follow these simple steps to add ONE to your crypto portfolio.

1. Create an Account

The first step to purchasing your ONE would be to open an account with an exchange like Crypto.com. Before you begin crypto trading you will be required to verify your identity. This involves stating your legal first and last name. Followed by selecting the government ID you wish to use, then taking a photo and sending it in. Finally, users must send in a picture of themselves to match the form of identification previously sent. 

2. Deposit Funds Into Your Account

Once you have created your account you will need to link a funding method to transfer money to your account. The most common methods are debit card or credit card as well as direct transfers from your bank account. To deposit funds into your account, navigate to the “Deposit” or “Funding” section, where you will typically find options for various cryptocurrencies and fiat currencies. Select your preferred deposit method, which may include bank transfers, credit card/debit card or cryptocurrency transfers.

If you choose to deposit fiat money, you may need to enter your banking details and follow the prompts to complete the transaction securely. For cryptocurrency deposits, you'll be given a wallet address to send your coins, which you must copy and paste into your cryptocurrency wallet for transfer. Make sure to double-check all details before confirming the transaction, as deposits usually take some time to process and can vary based on the method you choose. Once the funds are deposited, you should receive a confirmation, and the available balance will reflect in your account shortly.

3. Purchase Harmony (ONE)

Once you have linked a payment method, you are now able to begin purchasing ONE. Navigate to the trading section and search for the Harmony coin (ONE). Select the option to buy tokens and enter your desired amount. Review the order details carefully before confirming the transaction. After your purchase is complete, it's advisable to move your Harmony (ONE) tokens to a secure wallet for safekeeping, especially if you plan to hold them long-term.

What is Harmony Coin (ONE)?

Harmony is a layer-2 blockchain platform designed to facilitate the creation and use of decentralized applications (dApps) on the Ethereum network. Harmony focuses on processing validation speed by incorporating something called sharding. Sharding splits a blockchain company’s entire network into smaller partitions known as shards in order to improve latency across the network. This allows for Harmony’s 2-second transaction finality with 100 times lower fees than other blockchain transactions.

Harmony has a governance token known as ONE, which represents voting power on the project. ONE operates on the effective proof-of-stake (PoS) mechanism, which allows for energy-efficient and low-cost node validations. Another benefit of PoS is the prevention of centralization. This is because validators with a large amount of staked tokens are obligated to run more nodes, while validators with less stake run fewer nodes. Harmony now has more than 1,000 active nodes — 640 of them being run by the community. 

Brief History of ONE

Harmony was founded in 2014 by a team of 12 people — seven of them former employees at Apple Inc. (NASDAQ: AAPL), Google LLC (NASDAQ: GOOGL), Microsoft Corp. (NASDAQ: MSFT) and Amazon.com Inc. (NASDAQ: AMZN). ONE reached its all-time high on Oct. 26, 2021 with a price of $0.3798 per token. The current market capitalization for Harmony is roughly $175 million with a circulation supply of 14.12 billion ONE. 

Where to Buy Harmony (ONE)

You can buy ONE on several crypto exchanges including Crypto.com and Uphold. Make sure to always do your own research before buying cryptocurrency, as they are very volatile assets. 

How to Store Harmony (ONE) Safely

When thinking about how to store your cryptocurrency there are two paths to choose from: software wallets and hardware wallets. A software wallet is an application on your computer or mobile device; a hardware wallet is a special type of cryptocurrency wallet that stores the user’s private keys in a secure physical device. This keeps your private key information off your computer and on the external device. 

• Best Hardware Wallet: Ledger

Ledger is the most recognized and most credited hardware wallet currently available. The device is primarily an offline hardware wallet. Ledger also connects to Bluetooth and USB, depending on whether you want to use your computer or mobile device. Ledger’s application also makes it much easier to secure, store and manage your assets.  

• Best Software Wallet: Trust Wallet

Trust Wallet is a decentralized mobile software wallet, which means that it does not hold your funds so everything is on the blockchain. The best part is that Trust Wallet encrypts all of its users’ personal information and keys.

Trade, Sell or Convert Your ONE

Once you have accumulated some ONE, you can trade, sell or convert it. The process of trading generally implies trading off of market structures and indicators, with the purpose of making profits in a respectable time frame. The process of selling is different, as the goal is to end your position with that asset. An alternative to selling could be converting ONE to another cryptocurrency. This can be done through a variety of decentralized exchanges (DEX). Essentially, instead of selling your position for fiat, you can convert your ONE to another crypto of your choosing and receive the same dollar-value amount of that crypto.

Current Crypto Prices

The total market cap for all cryptocurrencies is roughly less than $2.1 trillion. The current crypto market structure seems to continue trending upwards as the DeFi industry continues to expand, although long-term market structure will depend largely on whether price action can hold current levels of support.

Is ONE a Good Investment?

If you believe in decentralized solutions and are looking to diversify your portfolio with layer-2 platforms, ONE may be a great choice for you. If you are looking to accumulate quick gains with high returns, then ONE may not be the best option for you. Always make sure to do your own research before investing in cryptocurrency.

Frequently Asked Questions