Stronghold Token (SHX) is a digital currency built on the Stellar blockchain, designed to provide fast, secure, and accessible financial services. It is available on both Stellar and Ethereum as an ERC20 token, with a total supply of 100 billion SHX. SHX is used for real-time settlement, fee discounts, rewards, and merchant cash advances through decentralized finance, and is accessible on various exchanges and wallets.
The Stronghold Token (SHX) is a cryptocurrency built on the Stellar blockchain, designed to facilitate fast, secure, and accessible financial services. Here are the key ways SHX is used:
Reward Points: Businesses within the Stronghold ecosystem earn a reward point for every dollar of transaction volume. These points can be redeemed for SHX tokens, which can be used to pay processing fees or exchanged for other goods and services within the Stronghold rewards program.
Merchant Financing: SHX powers Stronghold’s Merchant Financing offering, allowing businesses to receive funding in U.S. dollars through a simple application process. The financing program offers scaled, daily repayments based on a fixed percentage of sales.
Real-Time Settlement: SHX enables real-time settlement of transactions, reducing the need for lengthy processing times and high fees associated with traditional payment networks.
Climate-Conscious Transactions: As SHX is built on the energy-efficient Stellar network, it reduces energy consumption and greenhouse gas emissions compared to traditional blockchain protocols like Bitcoin.
Governance: Token holders can vote on network features and implementations based on the amount of SHX they hold, giving them a say in the development of the Stronghold ecosystem.
Liquidity Pools: SHX liquidity pools increase capital in Stronghold’s Merchant Financing lending protocol, further supporting the growth of the ecosystem.
Overall, SHX serves as a central component of Stronghold’s mission to provide accessible and efficient financial services, while also promoting environmentally friendly transactions.
To store Stronghold Token (SHX) tokens, you have several options depending on your needs and preferences:
Hardware Wallets:
- You can store SHX tokens in hardware wallets like Ledger, D'CENT, or Treasure. These wallets provide offline cold storage, ensuring the security of your tokens.
Non-Custodial Wallets:
- Non-custodial wallets, such as MetaMask, allow you to manage your SHX tokens directly within your web browser. These wallets grant you complete control over your private keys, ensuring maximum security.
Centralized Exchanges (CEX):
- You can also store your SHX tokens on a CEX, which provides convenient access to various investment products and features. However, this option may be less secure as you do not have direct control over your private keys.
- Self-Custodial Wallets:
- Self-custodial wallets, including Web3 wallets and paper wallets, offer another secure option. These wallets require you to manage your private keys, ensuring that you have full control over your SHX tokens.
When choosing a wallet, consider factors such as security, convenience, features, and fees to ensure the best method for storing your Stronghold Token (SHX) assets.
To buy Stronghold Token (SHX) tokens, you can follow these steps:
Buying Stronghold Token (SHX) via a Crypto Wallet- Choose a Wallet: Select a reliable and reputable crypto wallet that supports Stronghold Token (SHX).
- Download the App: Download the wallet application to your device from the Google Play Store, App Store, or as a browser extension.
- Create a Wallet: Create a new wallet address or import an existing one. Make sure you write down the seed phrase and keep it in a secure place.
- Buy Stronghold Token (SHX): Purchase the cryptocurrency using a supported payment method. Check the fees, as they may be higher than what exchanges charge.
- Swap for Stronghold Token (SHX): If your wallet doesn’t support direct fiat-to-SHX purchases, you can first buy a more popular cryptocurrency like USDT and then exchange it for Stronghold Token (SHX) through your crypto wallet or on a decentralized exchange.
- Choose a CEX: Select a reliable and trustworthy crypto exchange that supports Stronghold Token (SHX) purchases. Consider the ease of use, fee structure, and supported payment methods.
- Create an Account: Enter the required information and set a secure password. Enable 2FA using Google Authenticator and other security settings.
- Verify Your Identity: Complete KYC verification, which may require varying information based on your nationality and region.
- Add a Payment Method: Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment method.
- Buy Stronghold Token (SHX): You can now buy Stronghold Token (SHX) using fiat currency if supported, or do a crypto-to-crypto exchange by first purchasing a popular cryptocurrency like USDT and then exchanging it for Stronghold Token (SHX).
- Decentralized Exchange (DEX): Connect your crypto wallet to a DEX that supports the blockchain where Stronghold Token is built. For example, you can use Trust Wallet and 1inch to make the transaction.
- Peer-to-Peer Trading: Certain exchanges provide a peer-to-peer service, allowing you to directly purchase Stronghold Token (SHX) from other users.
Stronghold Token (SHX) is available on various exchanges, including Gate.io, MXC, BitMart, and P2PB2B, with different trading pairs and prices.