This Hive crypto review continues my look at altcoin cryptocurrencies in more depth. In this review of the Hive utility token (HVN) I will be sharing a bit on Hive's financial technology and features at a glance. I will give my personal Hive price prediction and will share where to buy HVN coins.
Hive was only very recently released and is still in the early stages of its roadmap. For that reason, Hive is definitely a speculative bet that could see very large gains or could also fizzle and die, depending on how Hive's development and adoption come along.
HVN Cryptocurrency at A Glance
Hive is billed as the, "World's first cryptocurrency invoice financing platform."
Hive uses blockchain technology to uniquely fingerprint every issued invoice and creates a "central data room" for all invoices and keeps a record of the issuer, owner and payer. As the Hive project team describes:
Invoices can therefore be offered to the market for trading. This will rapidly increase the liquidity available to small businesses and create a central database of invoices available for scoring and auditing. In addition to bridging the liquidity gap for small businesses, the technology provided by Hive will help credit checks to be made on companies and facilitate rapid and real-time auditing.
How Hive Works
In a nutshell, this is how Hive works:
- A company's financial data is uploaded to the blockchain - A participating company's data is uploaded to the blockchain.
- The company owns its financial data on the blockchain and, monetizes its advantages when seeking liquidity.
- Third parties then get more reliable data, which improves seekers' access to finance - Featuring a triple entry accounting system, the Hive Project Platform seeks to give creditors reliable info on borrowers credit. The aim with this is to lower risk and provide cheaper access to liquidity.
Hive Cryptocurrency Features & Benefits
Some of Hive's benefits are in terms of increased liquidity, risk management and triple entry accounting:
How Many Hive Coins are There?
As of the time of the writing, there is 375 million Hive coins available. The total supply of Hive tokens will be capped at 500 million. This large supply is a factor that should keep the price within reach and not too high.
Hive Cryptocurrency Price Prediction for 2018 and Beyond
Hive Cryptocurrency Price Chart from August 17, 2017 through January 5, 2018. Source: CoinGecko.com
At the time of writing, Hive is trading near the $0.17/mark, a nearly .15 price increase from it's initial ICO trading price of about $0.025.
2018 is going to be the year of the altcoin and as I mentioned in my previous altcoin posts, I believe a majority of proven coins are going to experience big gains in 2018. Also, speculative coins like Hive will be seeing a lot of attention from investors seeking big gains.
It is yet to be seen whether Hive is a proven technology. It is Fintech geared toward a very specific niche, so scalablity may be an issue as well. In my view, long term prospects for this particular altcoin seem unclear, but my guess is that at least in the short term the price of HVN should continue to trend upwards.
This is a very hard one to put a number on, but my personal guess is that HVN could hit $0.50 within the next few months. Long term is very hard to predict and could go either way.
Where to Buy Hive Coins
How to buy Hive tokens is not too difficult. This altcoin token is listed on a handful of exchanges for either Bitcoin (BTC) or Ethereum (ETH). I personally recommend that you buy and sell Hive on HitBTC.
If you do not currently have any BTC or ETH, you will want to first purchase some on a site like Coinbase or my site of choice, Uphold. Once you have done that, you can then transfer your Bitcoin or Ethereum to HitBTC and then start getting some Hive!
Your Thoughts on Hive?
Thank you for reading and please leave your comments below. What do you think of the Hive Project? Is this token here to stay?
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Obligatory Disclaimer
The recommendations contained in this Hive crypto review are my personal opinions. I am not an investment advisor or professional. Cryptocurrency investing is risky and I urge you to conduct extensive research when making your own investments.
More on Hive
Hive-Project.net - Official website for the Hive Project
Hive Business Roadmap - A detailed look at the Hive Project team's goals going forward.
HitBTC - Where to buy HVN!