Huobi Token (HT): cryptocurrency token review, price and chart, how to buy or sell on the exchange, forecast and prospects
Huobi Token (HT) is an exchange-traded functional token of the Huobi trading platform. It was released following the token of the competitive platform – Binance. HT cost is closely related to the popularity and reputation of the Huobi exchange, but also depends on a number of other factors. Initially, the coin was a great success, then it was on the decline for a long time, and now it is returning to its positions again.
Traders and investors are interested in the question of whether the HT token will be able to raise its capitalization to reach the level of Binance (BNB). Theoretically, this is possible, since the trading volumes of the exchange and, accordingly, its profit, are steadily growing.
Information about the HT token as of 27/12/2021:
|Capitalization||$1 576 685 700 20|
|Current issue||157 723 680 25 HT|
|Maximum emission||500 000 000 HT|
|Cryptocurrency exchanges for trading||Huobi Global, Gate.io, Bit-Z, MXC, EXX, etc.|
Huobi Token functionality
The two main purposes of the Huobi exchange token are voting and fee reduction.
Savings on trading fees
The scheme used by Huobi is different from Binance. In Binance, everyone who owns tokens is eligible for discounts, and Huobi offers a 5-tier subscription model. The savings will become more noticeable with each level.
Huobi currently has a fee of 0.2% per maker and taker. But if you buy a 5th level subscription for a month for HT 12,000, you are eligible for reduced fees of 0.1%. The advantage of such a system is that it is permanent – and discounts on Binance are temporary, calculated for several years.
It might seem like HT 12K is a lot, but keep in mind that the exchange is aimed primarily at institutional investors rather than small ones. For them, this is an insignificant amount, but a decrease in commissions by 0.1% can result in savings of thousands of dollars every month.
Votes and awards
Another benefit of owning Huobi Token is the ability to participate in the development of the exchange. The platform allows users to choose which coins should be added or excluded from the listing, using HT for voting. The exchange conducts an audit, considering projects for compliance with quality standards and all existing rules, and the final decision allows participants to make.
Users get an advantage – the ability to work on the exchange with the assets they are interested in. But this is not the only plus. They are also provided with free coins of the project for which they voted, in the event that it gets listed. A win-win option for users in any situation.
What determines the growth prospects of Huobi Token
Both of the above methods of use are good reasons for buying and storing tokens in your investment portfolio. They are also able to provide good growth potential for the course. However, as with any coin, the price will be mainly determined by the supply and demand ratio.
Key factors that will affect this:
✅ The number of institutional investors who have joined the platform.
✅ Traders’ opinion on the prospects of the course.
✅ Interest of investors who find it profitable to vote for the listing of new projects.
All of the listed demand stimulators are closely related to the general state of the cryptocurrency market. A bearish trend will hold back exchange token rates, while strong growth will, on the contrary, open up room for them to increase.
Where to buy and sell
The most logical way is to buy a Huobi token on the relevant exchange. To do this, create an account on the website https://www.hbg.com/ru-ru/ and log in.
Hover over the Balance drop-down menu and select the first item, Currency Account.
Find HT in the list.
Hover over the last column in the table – “Bidding”.
And select the option of the currency pair you are interested in (for which assets you will purchase tokens). You first need to replenish your account with these assets. You can buy cryptocurrency for fiat in exchangers, on exchanges: LocalBitcoins, EXMO, Currency, Crex24, DSX, etc. or using payment systems Advcash, Payeer, ePayments.
After choosing a pair, a trading terminal will open. Create an order to buy or sell a coin by filling in the required fields – for the market, this is only the quantity, and the price will be equal to the current rate. For the limit, you set the desired price yourself and wait until an opposite order appears at the same price.
The funds received as a result of trading will go to the balance of the exchange, from where they can then be withdrawn or used again for trading.
Advantages and disadvantages
✅ Tokens participate in the buyback and burn program, which reduces the issue, and the coins themselves become more valuable.
✅ The voting system maintains a healthy competitive environment on Huobi.
✅ Possibility to save on trading commissions.
✅ Huobi is one of the largest exchanges, and its development gives every reason to assume that the coin will develop as well.
✅ Large user base of exchange traders.
❌ Competition from other exchange tokens that are also of interest.
❌ Excessive attention to the coin at the time of its issue, which led to an artificial overvaluation of the rate, and then its fall.
The Huobi token is interesting to almost everyone who considers cryptocurrencies to be a serious industry with a great future. There are many options for how its cost will increase, one of which is a gradual decrease in emissions. Currently, HT looks somewhat undervalued compared to other exchange tokens, although it is quite popular among traders.
The main popularity is in Asian countries. It can be assumed that when it spreads across Europe and North America, it will benefit the HT token. This was the case with other competing exchanges.