[Update: 06-Nov-2021]It seems that they have some issues with their virtual miner which allows users to purchase a “buddy” to mine with. A lot of complaints seems to relate to that. Most of them seem to say that even after they paid for the miner, it is not being reflected and the support staff don’t seem to be replying. This does not sound that good to me. So if you are thinking of purchasing the virtual miner, you should think twice.
This is a maybe. For those who want to try out another mobile “mining” app, let me present to you this Hexa Network [referral code included]. Or you can go to their website directly here and use my referral code blong1234. Their Hexa token is currently running on the Binance Smart Chain, so you can be sure transactions fees will be much lower. No more worries about having to pay expensive fees when you transfer your hard earned tokens out of your wallet. And admittedly, you will not get a lot of tokens from these mining apps and if half of which are used for transaction fees, definitely not worth it.
Anyway on to the review of Hexa Network. I have been mining for about 2 to 3 weeks on their app. So far, I think it is pretty decent. The mining rate is quite okay and you can watch advertisements to “double” your mining rate. However it is best for users to refer their friends or relatives to the app. That is how they will grow. More users means more demand for Hexa tokens. And the price will hopefully increase. As usual with most of these mining apps, they do need users to refer others to the network. They just don’t have the advertising budget and there are already plenty of such apps in the market right now. But Hex Network is pretty new, so if you get in early, you should be one of the pioneers. Of course I have no idea whether the project will be successful or not. And at the moment, I have no idea how much their Hexa Token will be worth. Their ecosystem seems to be based on games – so you should expect games coming into their platform soon. And to grow their ecosystem, they are planning to have shops and marketplace for products and services. Again, this is nothing too remarkable as most of these platforms plan to have such features as well. I have yet to see one that is successful though. This is not to say that the project will fail. Merely suggesting that they have an uphill task ahead for them.
The current mining rate is 1.6 Hexa Tokens per hour. The rate will be halved once the users reach 100k. It will halve again once the platform reaches a million users. Users will need to come in to their app and click on a few buttons daily to restart their mining. Pretty easy to do but based on my experience, not everyone will be willing to do this for the long term. Need some discipline. For don’t who don’t know, I have been mining Pi tokens and Bee tokens for over 7 months already. Eagle tokens for around 5 months as well. How is that for discipline? Of course I spent a lot of time travelling on public transport, so I do have the spare time. This kind of apps are especially good for people like me.
According to their whitepaper, the total supply of Hexa Tokens will be 1 billion. And to make the distribution fair, 80% of the total supply will be for miners and for the ecosystem. This process is expected to take up to 5 years. So yes, users will have plenty of time to mine but note that it comes at a reduced mining rate. Anyway only 5% will be given to the developers. Well….maybe that would be good as well. At least we know that they are not greedy (hopefully). And with the supply of 1 billion tokens, I honestly don’t know how much it will be listed at. I will update you guys when the time comes. But I have to be frank, mining this token probably won’t make you a millionaire.
If you were to check out their roadmap, 2022 would be a very interesting period for them. That is the year they will start with their decentralized exchange (for swaps), their staking will be enabled and their marketplace developed. Hopefully their tokens will be listed at major exchanges as well. No matter what people say about those centralized exchanges, those exchanges were really where the prices of the tokens are determined. The trading volume there is just undeniable huge. And in their 2023 roadmap, it seems that they plan to create a mobile phone based on Hexa OS? Now that is very ambitious to say the least. But honestly I doubt that it will come to fruition – I can understand the need to be different but just imagine the resources need to compete with the other mobile brands and with their operating systems.
So if you all are interested, please use my referral code. Of course if your friends already have their own codes, you should use theirs instead. And please DO NOT purchase or buy anything on such apps unless you are sure of the project’s success. The Hexa app has an option to purchase “virtual friends” who can mine with you. You should get your real friends to do that instead. Please be safe out there!