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An Objective View Of Hi Dollar – Benefits & Potential Pitfalls

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Written by   209
8 months ago

The Team & Stability

I began collecting my daily Hi back in September of 2021. It was still a very new project back then, which seemed to be receiving a fair amount of recognition based on the team that was heading it up! Former heavyweights from Crypto.com and Bitcoin.com seemed to be drawing in the masses. To my knowledge, Hi Dollar already has approximately 200 million users. The goal, according to the official Hi.com site is to onboard 2 billion users. That is quite an ambitious goal if I dare say so myself. The price of Hi has remained relatively stable over the last four months since I initially wrote about this project.

The price has generally hovered between $0.73 and $1.00, apart from a brief drop to $0,33, which was short-lived. You can visit the following link to read my initial article if you happened to miss it. At face value, the team appears solid, the price is relatively stable and users can earn 1 free Hi Dollar every 24 hours. I guess this is the decider for many potential users that are on the fence about getting involved with Hi and the community.

Zero Capital = Zero Risk

This is it, users are able to collect their free Hi Dollar every 24 hours without incurring any cost. By simply answering a daily multiple-choice question, users receive free Hi. This action literally takes a few seconds of your day, making it extremely viable, especially if Hi goes on to increase in value over time. That being said, the ATH for Hi is $1.57, which was reached on the 8th of December 2021. With prices currently under severe pressure, the price is currently under strain.

The incentivized economy is just going to keep growing, as will the number of opportunities within this niche. People are constantly on the lookout to find new ways to monetize their actions and time, especially as rewards in Crypto generally appreciate significantly over time. Look at Torum for example. Many were collecting their free XTM not knowing if the token was ever going to have any value. Eventually, the token had a value of $0.05 and many were extremely pleased to finally see value being associated with their tokens. However, XTM went on to reach $2.50 and is currently trading at $0.49 at the time of writing.

The moral of the story is, accumulating free Crypto without much effort and no capital contribution is often a great move to make. Spending a few seconds a day is worth it in my opinion, as the token could actually take off.

Demand & Use Cases

Even though Hi that is freely earned is locked up for a year, Hi can be purchased on Uniswap and PancakeSwap. This Hi is transferable and can also be staked in order to receive some fairly decent rewards. Not only can users earn on their Hi but also BTC, ETH, and a number of other coins, including stablecoins. It is actually quite surprising to see that even at this stage when many are simply collecting free Hi, the trading volume is generally just below $1 million on a daily basis.

Image – Hi.com

There is clearly a demand for Hi and that is a positive sign. Considering the type of project, the volume is decent and shows signs of liquidity and life. Holding Hi will also earn users rewards when using certain services including restaurants, airlines, hotels, and more. Hi is busy setting up strategic partnerships that will further incentivize users to hodl their Hi. There are different levels within the loyalty system, rewarding users according to the amount of Hi being held.

Image – Hi.com

Holding 10K Hi or more will put you in the top tier and unlock Premium benefits. At this point it all sounds quite promising, so let’s take a look at some of the other aspects that could be interpreted negatively.

Potential Issues

One of the more negatively viewed aspects of Hi Dollar is that in order to withdraw your freely attained Hi, you will have to complete a basic KYC. Some are quite opposed to KYC in general and yet I think that it is going to become more and more of a prerequisite in order to utilize Crypto services.

Another potential issue could be that when currently locked Hi tokens are unlocked, there could be a significant sell-off as holders proceed to cash out their free tokens. This will depend a lot on how the community interprets the value of the perks associated with holding the token. So at this stage, it is actually quite difficult to determine whether Hi will be able to maintain the current valuation. Apart from these two scenarios, I don’t see much that could potentially be an issue. When you take into account that you can accumulate Hi tokens without actually having to purchase them, the risk is quite minimal. What I would like to see though is Hi being listed on a few CEXs over the next six months or so.

Conclusion

All things considered, if you are not heavily opposed to KYC and can spare 10 seconds a day, it may be well worth your time to start accumulating some free Hi.

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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Written by   209
8 months ago
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