Purchasing Harmony (ONE) with a Credit or Debit Card

Harmony is a Layer-2 blockchain designed to support decentralized applications (dApps) and cross-chain finance. Harmony focuses on improving speed and scalability through sharding, which splits the blockchain into multiple segments, potentially allowing for faster transaction processing.  

ONE is the native cryptocurrency of the Harmony ecosystem. It serves multiple purposes, including paying transaction fees, ensuring network security, and incentivizing participants. 

Harmony's native token is available on CEX.IO, a well-known cryptocurrency exchange that allows eligible enthusiasts to buy and sell crypto in the U.S. and over 200 other supported jurisdictions worldwide. 

In this article, we explore what ONE is, and how to obtain this token with a credit or debit card on CEX.IO, effortlessly and securely. 

About Harmony

Built on Ethereum (ETH), Harmony aims to improve upon some of the network's current limitations around transaction costs, scalability, and throughput. 

It uses a technique called Random State Sharding, which randomly assigns validators to shards to improve security and potentially prevent any single validator from having too much control.

To ensure fairness and unpredictability when selecting validators, Harmony uses a technology called VRF (Verifiable Random Function). This process ensures that validators are chosen randomly and cannot be tampered with.

However, it's vital to note that Harmony faces intense competition in its quest to tackle the existing challenges of building decentralized applications. 

Several similar “Ethereum-killers” share the goal of high scalability and efficiency for dApp communities such as:

• Solana (SOL) – Like Harmony, this proof of stake (PoS) blockchain platform also utilizes sharding for scalability, and aims to offer comparatively fast transaction speeds and low fees.
• Cardano (ADA) – Another PoS blockchain platform with a focus on scalability and security. It utilizes a unique Ouroboros consensus mechanism for efficient block validation, and prioritizes a research-driven approach to pursue secure, sustainable growth.
• Avalanche (AVAX) – This high-throughput platform utilizes a novel consensus mechanism that combines proof of stake and Directed Acyclic Graph (DAG) technology. This approach to network structure potentially allows for faster transaction finality and improved scalability.
• Polygon (MATIC) – This layer-2 Ethereum scaling solution works to improve scalability for dApps built on the base network. It utilizes various scaling techniques, such as sidechains and optimistic rollups, in an attempt to achieve faster transaction speeds and lower fees.

The role of ONE in the Harmony ecosystem

The primary function of ONE is as the native cryptocurrency of the Harmony blockchain. It acts like digital cash, allowing users to fund transactions on the network. This includes interacting with decentralized applications (dApps) built on Harmony or transferring funds between user accounts.

ONE also plays a crucial role in maintaining the health and security of Harmony's network by acting as a governance token, and incentivizing network participants through staking. 

Similar to the CEX.IO staking program, where participants can potentially earn crypto rewards by locking their cryptocurrency holdings, ONE holders can stake their tokens to participate in securing the network. 

By participating, network users become validators responsible for verifying transactions and adding new blocks to the blockchain. In return for staking, they earn rewards in the form of additional ONE tokens.

Disclaimer: Please note that ONE is currently not available for staking on CEX.IO. We encourage our customers to thoroughly research the available tokens for staking and understand the associated risks and rewards before engaging in this process. 

Staking involves committing assets, and it is important to make informed decisions based on reliable information and your financial situation.

How to buy ONE with a credit or debit card on CEX.IO

Curious participants can acquire ONE token on CEX.IO via several gateways. The most intuitive way to obtain Harmony's native cryptocurrency is through Instant Buy, available across our web platform and crypto mobile app, tailored to iOS and Android users. 

To become eligible for purchase, customers must register and verify their accounts, after which they receive a free crypto wallet, which allows them to buy, sell, store, and convert ONE, as well as 200+ other listed assets. Our cryptocurrency trading platform, Spot Trading, may also be used to track how ONE performs against USD and USDT. 

Here's the step-by-step guide on how to buy ONE with a credit or debit card instantly via Instant Buy: 

1. Register and verify with CEX.IO.
2. Navigate to Instant Buy.
3. Locate You Pay and select the fiat currency you wish to use for the purchase (USD, EUR, or GBP), and click Buy Crypto Instantly.
4. Enter the amount you wish to spend on acquiring ONE. Make sure it aligns with your budget and risk appetites. 
5. Choose credit/debit card as the preferred payment method.
6. Securely type in your details, and make sure to double-check all information before adding your card.
7. Initiate the transaction.
8. Confirm the purchase.

Note: Please be aware that your bank may use different methods to notify you of a completed purchase. These methods can vary depending on your bank and account settings, including text messages, email, bank app notifications, or online banking activity. Please contact your bank for details.

FAQs

What alternative payment methods can I use to buy ONE? 

Instant Buy offers various pathways to acquire ONE, beyond just credit and debit cards (VISA, Mastercard). Eligible customers can buy crypto with Apple Pay, Google Pay, and e-wallets (PayPal, Skrill, Neteller). Please note that the availability of specific payment methods may vary between countries. We encourage users to research available methods of purchase in their respective jurisdictions before acquiring ONE. 

How can I track the price of ONE? 

CEX.IO offers multiple avenues to track the real-time price of ONE, as well as other listed digital assets customers may be interested in acquiring. The most intuitive way to explore the current value of ONE is through our cryptocurrency prices page. Alternatively, the charting and market data tools available on Spot Trading may also be used to conduct a more in-depth analysis of ONE's price movement. 

What is the CEX.IO Debit card? 

Registering and verifying an account with CEX.IO unlocks a massive library of crypto-related services and features. Our crypto debit card allows customers in the European Economic Area (EEA) to seamlessly spend their crypto holdings for everyday purchases both online and in-store, intuitively and securely.