How to Buy $HONEY Tokens on MEXC

In this guide, we’re going to walk you through how to purchase Hivemapper tokens using the MEXC exchange. MEXC is trusted by more than six million users and supports over 2400 cryptocurrencies. With trading fees as low as 0.05 percent for both makers and takers, it’s an attractive option. We’ve picked MEXC due to its strong security, advanced trading tools, reliable liquidity, and full KYC compliance.

Buy $HONEY!

New users are eligible for a sign-up bonus of up to $20,000. Holding the platform’s native token, $MX, also grants users additional discounts. MEXC further enhances trading with features like automated bot trading, peer-to-peer trading, and demo trading.

The following are all the steps for buying $HONEY tokens on MEXC:

Step 1: Hover over the Spot tab, and from the dropdown menu, click on “Spot”.

Step 2: Next, click on the “Assets List”, search for “Hivemapper (HONEY)”, and select “HONEY/USDT”, which should be under the Spot option.

Step 3: On the right, you will find the Buy/Sell panel where you have the option of choosing between a Market or Limit order.

Step 4: In the “Amount” field, enter the amount of Hivemapper (HONEY) you want to buy, or in the “Total” field, enter the amount of USDT. For your convenience, you may use the slider instead.

Step 5: Once you are done filling in the details, go ahead and press “Buy Hivemapper (HONEY)”.

Fees When Buying Hivemapper on MEXC

MEXC applies a 0.05% fee on both buy and sell transactions, which is consistent with the fees charged by leading exchanges. For instance, buying $100 worth of $HONEY would result in a $99.90 purchase after fees. Additionally, by holding $MX, the platform’s native token, users can enjoy discounts of up to 50% on trading fees.

How to Transfer $HONEY to a Web3 Wallet (Phantom)

After acquiring $HONEY tokens, many users transfer them to a Web3 wallet to retain full control over their assets and seamlessly engage with the Hivemapper platform. Since Hivemapper is built on the Solana blockchain, it’s essential to use a wallet that supports Solana. Phantom is an ideal choice, known for its user-friendly interface, smooth integration with Solana-based DApps, and strong security features.

Once your wallet is set up, simply share your wallet address to receive $HONEY tokens from a centralized exchange via the Solana network. This ensures your funds are secure and fully under your control. With your tokens safely stored in a self-custodial wallet, you’ll be ready to take full advantage of the Hivemapper network.

Step 1: Hover over the “Wallets” tab, and from the dropdown menu, click on “Withdraw”.

Step 2: In the “Crypto” field, search for “Hivemapper (HONEY)” and select it from the list.

Step 3: In the “Withdraw To” address field, open your Hivemapper (HONEY)-compatible wallet, copy your receive address, and paste it here.

Step 4: Next, choose the appropriate network for your withdrawal.

Step 5: Enter the “Withdrawal Amount” in the designated field. After carefully reviewing and filling in all the details, click “Submit” to complete the withdrawal process.

To keep track of the transfer, use the transaction ID (TXN ID) on Solscan. Once the blockchain confirms it, your $HONEY tokens will be reflected in your Web3 wallet.

Buy $HONEY!

Hivemapper Explained

Hivemapper is a decentralized global mapping network among Solana projects, utilizing blockchain technology to create a dynamic and accessible world map. It incentivizes users with its utility token, $HONEY, for contributing high-quality data, such as 4K imagery, through devices like dashcams. This community-driven approach ensures continuous map updates while maintaining privacy and security.

$HONEY is used for rewarding contributors, participating in governance decisions, and facilitating transactions within the platform, such as purchasing map data or accessing advanced features. As the network grows, $HONEY’s value is closely tied to the increasing demand for its detailed mapping services.

Bottom Line

As you consider acquiring $HONEY tokens, it’s worth exploring how Hivemapper’s decentralized, community-driven approach benefits both contributors and developers. The integration of real-time data on the Solana blockchain ensures low fees and efficient operations. By holding $HONEY, you can actively participate in the platform’s growth and governance.

FAQs

1. What is the main use of $HONEY tokens on the Hivemapper platform?

$HONEY tokens are used to access premium geospatial data, participate in governance, and reward contributors for uploading street-level imagery.

2.  Can I use $HONEY tokens outside the Hivemapper ecosystem?

Yes, $HONEY can be traded on supported exchanges or used in apps that integrate Hivemapper’s data via API access, depending on the platform’s policies.

3. How often are $HONEY rewards distributed to contributors?

Rewards are typically distributed weekly based on image quality, coverage area, and data freshness. All contributions are reviewed before rewards are issued.

4. Is there a fixed supply of $HONEY tokens?

No, $HONEY uses a burn model. Tokens are burned after data consumption, which helps maintain a healthy balance between supply and demand.

5. What happens if I send $HONEY to an Ethereum or BNB address?

Your tokens will be permanently lost. $HONEY is a Solana-native token, so it must only be sent to Solana-compatible wallets.