The Himalaya Coin (HCN) and Himalaya Dollar (HDO) are two cryptocurrencies traded on the Himalaya Exchange. Characterized by unparalleled features, they are the bellwethers to set the standard on the future’s cryptocurrency era. The Himalaya Coin is a cryptocurrency backed by 20% physical gold, while the Himalaya Dollar is a stable coin based on the US dollar.
Legal, clean money on a crypto platform
Currently, concerns of government regulation are mounting as most other cryptocurrencies including bitcoin may be abused for laundering illicit money. The crypto exchange Binance is at the risk of lawsuits because it has not performed Know-Your-Customer (KYC) checks on its customers for a long while and has operated without a business license for some time until it has recently acquired a temporary license. Unlike its peers, the Himalaya Exchange is a licensed platform that offers full transparency and due diligence. All users of the Himalaya Exchange are required to undergo rigorous KYC procedures to ensure money on the platform is clean. On June 30, the European Union introduced the Markets in Crypto-Assets (MiCA) law as a framework for regulation on cryptocurrencies—the law will require more transparency among cryptocurrencies. The Himalaya Coin fully complies with the new laws.
A cryptocurrency with intrinsic value
According to documents, 1 billion Himalaya Coins are issued every year over a span of 100 years, with total projected mintage at 100 billion coins. Unlike other cryptocurrencies with no guarantee on value, the Himalaya Coin is partly backed by gold. Every year, 20% of the proceeds from sales of the Himalaya Coin is used to purchase physical gold that are safely stored in vaults. However, the physical gold cannot be withdrawn and only serve as the guarantee of value.
State-of-the-art blockchain technology
The Himalaya Coin adopts third generation blockchain technology that enables fast, high-volume transactions and military-grade encryption, ensuring convenience and security. The H-Pay app is a convenient app to pay or receive Himalaya Coins and Himalaya Dollars. In comparison, bitcoin relies on outdated first generation blockchain technology that cannot support fast transactions in high volumes.
Cryptocurrency on a centralized platform with accountability
Due to their decentralized structures, other cryptocurrencies including bitcoin are vulnerable to theft or loss. There is no institution to take responsibility for stolen coins. In contrast, the Himalaya Coin and Himalaya Dollar are centralized cryptocurrencies managed by the Himalaya Exchange, which takes responsibility and can assist to recover stolen funds.
The most reliable stable coin
The Himalaya Dollar is by far the only true stable coin because every Himalaya Dollar is backed by a real dollar stored in secure bank accounts. Backed by 100% real money, this stable coin can withstand any bank run. Other self-claimed stable coins including Terra Luna either rely on algorithms to stabilize prices or are pegged to bitcoin, so they are routed as bitcoin price crashes. Until now, the Himalaya Dollar is the only stable coin that complies with the EU’s MiCA law, which requires stable coins to be more amply funded.
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