Frequently Asked Questions

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How do I backup my Recovery Phrase

Click HERE to view a step by step tutorial on how to back up your recovery phrase

How do I import my $HST tokens into my wallet to view

Click HERE and scroll to the last tutorial to properly import your tokens

What is $HST

$HST is the native crypto currency to High Society T’s, a group led by a USMC veteran. Our team is focused on building the entity on a Bitcoin standard, as our token $HST is on Cronos EVM blockchain

How do I purchase $HST

Please go to our Tutorials tab to view how to purchase $HST

What is Defi

DeFi, short for Decentralized Finance. DeFi is a blockchain-based ecosystem that replaces traditional financial services (like lending, trading, or saving) with decentralized, open-source alternatives. It runs on smart contracts, mostly on networks like Ethereum, and uses crypto instead of fiat. No banks, no centralized control just code and community.

What is a DEX

A Decentralized Exchange (DEX) is a type of DeFi platform where you can trade cryptocurrencies directly with others without a middleman (like Crypto.com or Kracken). Unlike centralized exchanges (CEXs), DEXs don’t hold your funds—you keep control via your own wallet. YOUR KEYS, YOUR CRYPTO.

Why use a CEX

If you’re in DeFi and want to cash out for fiat currency, a Centralized Exchange (CEX) is the bridge to sell your crypto and withdraw to a bank. A CEX is more beginner friendly, no need to wrestle with wallets or gas fees upfront. A CEX is a centralized hub for crypto trading, bridging the gap between fiat and digital assets. It’s convenient but sacrifices some of DeFi’s decentralization ethos. If you’re cashing out from DeFi, it’s often your final step to fiat currency

How to sell my $HST back to fiat currency (AKA Cash)

To sell your $HST tokens on a DeFi platform and convert to fiat, you’ll need to move from DeFi to a platform that supports fiat withdrawals like a CEX, since DeFi itself doesn’t directly handle cash. That being said you will need to sell your $HST back to $CRO then send your $CRO back to the CEX, last you will sell your $CRO to fiat on the CEX

What if I don't have an account with any CEX

If you do not have one you must create an account with a CEX. Here at High Society we are onboarding new users into the Crypto.com ecosystem. Here is my referral link which you can use to sign up at Crypto.com and we'll both get $50 USD each https://web.crypto.com/signup/r/tff65qecje

How does a quarterly burn benefit me

Burning a crypto token means permanently removing it from circulation, typically by sending it to an inaccessible address. This process reduces the total supply of the token and can have several key effects such as Increases in scarcity, signals commitment from the team, and ties value to our real world utility

What is a White paper

A white paper is a detailed document released by a project’s creators to explain their idea, technology, and goals. It’s like a blueprint or pitch deck for a blockchain or token, aimed at informing potential investors, developers, and the community.

What does utility do for a token

In the crypto world, "utility" refers to the practical function or purpose a token serves within its ecosystem. A token with utility isn’t just a speculative asset—it has a job to do, and that role can significantly impact its value, adoption, and longevity.

Does $HST have utility

Yes it does, with each sale on our site we allocate a percentage of profits to buy back and burn our $HST token, in return benefits the long term HODLERS

What does DCA mean

Dollar Cost Averaging, DCAing is an investment strategy where you regularly put a fixed amount of money into an asset regardless of its price at the time. The idea is to spread out your purchases to reduce the risk of buying at a peak. When prices are low, you get more units; when they’re high, you get fewer. Over time, it smooths out the average cost and takes the emotion out of trying to time the market

VERIFY VERIFY VERIFY

A common mistake when navigating and using the DeFi platform people tend to overlook. What I mean by verify is double check what you are signing, what you are connecting your wallet to, what address your are sending any tokens to, and what chain you are utilizing. You must pay attention to these details because if you are not paying attention you can potentially send tokens to the wrong address and lose those funds. You can potentially connect your wallet to a malicious website and then your wallet could be drained of all funds. Nevertheless it is always good to do your own due diligence and verify