Despite the huge success of Bitcoin, it is already a known fact that one of the biggest problems of the most widely used digital crypto coin in the market is the negative environmental impact caused by the mining process. According to various sources, one Bitcoin transaction takes the same amount of power that the average American household consumes in one month. Further, Bitcoin uses more energy than entire countries like Sweden or Malaysia. Ultimately, that was the catalyst for Elon musk’s decision to drop Bitcoin after the founder of Tesla said Tesla would no longer accept Bitcoin because Bitcoin is bad for the environment.
And so, a new coin has recently emerged known as the Chin coin – the first energy-efficient token. In this short article, we’ll help you understand what is Chia coin and how to buy it.
What is Chia (XCH) coin
The Chia network was founded by Bram Cohen (who’s also the inventor of the BitTorrent network) in 2017 with one primary goal – to create a digital token that is more decentralized, efficient, and secure, and above all, has created an energy-efficient blockchain network that makes mining accessible to everyone and is less damaging to the environment. To get more details about the XCH coin, you can visit the Chia network site, this guide, and the Chia coin page onCoinMarketCap.
How to Buy Chia (XCH) Token?
Right now, not many cryptocurrency exchanges offer you to buy Chia tokens. One good solution is HBTC (BHEX) that recently has added the XCH/USDT pair, and is, in my opinion at least, a great crypto exchange. You can read our full review of HBTC (BHEX) to get more information about the exchange.
To get started, here’s the step by step process on how to buy the XCH token:
- Visit HBTC and sign up for a trading account
- Go to buy crypto and buy USDT (Tether)
- Search for XCH on the HBTC homepage or via HBTC exchange
- Set the price and the amount and click on the Buy XCH button
- That’s it, now you have Chia (XCH) token. Remember, you can always transfer it to another secure wallet (better than storing it on HBTC online wallet)