SRC

I have already published part 1, part 2 and part 3 in the on going spotlight on Huobi Challenge from @steemitblog, today in this post I'll talk about Huobi token.

What is huobi token?

Huobi Token is an ecosystem token launched by Huobi exchange, just like other exchanges have their native tokens like BNB for Binance exchange.

Huobi pro exchange released its native token referred as Huobi Token (HT) in January 2018,The Huobi Token (HT) is based on Ethereum ERC2O standard.

The HT was launched by Huobi Pro without issuing an ICO (initial coin offering). Rather, the coins were distributed in a unique Point Package manner to help promote the growth of the network. 300 million tokens were distributed to the people who bought the tokens when they went on sale in January 2018.

Why HT?

According to Coinmarketcap.com Huobi global is currently ranked 2 in top Spot cryptocurrency exchanges, The Huobi Token was designed to help rival other equally successful tokens launched by cryptocurrency exchanges such as Binance (BNB).

Although Huobi token (HT) Can be used on huobi global exchange to lower the transaction costs, lower trading fees if you use HT to deduct trading fees just like Using BNB in binance.

voting rights with Huobi Token

The Huobi exchange created the Native token known as Huobi token(HT), with an aim of promoting its performance in the fast evolving and competitive market. The focus is targeted at accelerating the adoption and use of the new Huobi.Pro and the entire Huobi ecosystem.

When you buy HT, you become part of the Huobi system and are entitled to participate in voting for coin listing at the Huobi Autonomous Digital Asset Exchange (HADAX). The HADAX is a hybrid crypto exchange that lists many tokens. Once you get the tokens, Huobi wants you to keep them so that you can be part of the voting system alongside the due diligence conducted by Huobi.

But it is not just voting that motivates users to hold the tokens. They also receive free tokens from the projects that are listed in the exchange. The exchange allows the projects getting listed on the platform to set their reward mechanisms that are distributed to the HT holders.

It's kinda similar to Tron link ecosystem where you can freeze your TRX to vote for super representatives and earn Return on your investment and good thing you can unfreeze and withdrawal them anytime after 72 hours of freezing time.

Lower transaction fee with HT

Just like binance you can use HT on huobi exchange to deduct the transaction fee.. the transaction fee for all users at Huobi is 0.2%. To reduce this fee to the level of Binance, 0.1%, you will be required to join the VIP fifth tier.

Using the network under the VIP five tier system, the 0.2% transaction charges can be pulled down by 10%, 20%, 30%, 40%, and 50% in the first, second, third, fourth and fifth tiers respectively.

Huobi token now ?

Rank	33
Total supply	500M
All time high	$6.10 USD
All time low	$ 0.889694 USD
Circulating supply	204,811,752 HT
24H volume	$78,260,151 USD
Market capitalization	$808,643,989 USD

Coinmarketcap.com

Huobi token did very well between launch at the close of January and mid-2018. Its price grew with more than 200%.

Huobi Token has proved to be a successful one since its launch in the market, if we see today huobi token (HT) is ranked in top 33 among thousands of other cryptocurrencies, The Huobi community has indicated their potential To make the token to be noticed in the upcoming days.

Huobi Token performance

If we see the 7D price chart of huobi token performance you can see its been doing well Up and down just like other Altcoins, we saw even BTC fell back after 20kUSD then when btc fall altcoins also started falling, but as it seems like altcoins season coming up Huobi token can be a good choice to invest as it can go up anytime now (Although not a financial advice).

It's kinda stable for now.. According to this 7D chart its open and close is $3.89 to $ 4.19 So it's not really falling big, at least in comparison to some other coins.

Huobi Token availability

In my opinion Huobi Tokens are some of the most promising tokens in the market today.

If you want to buy HT, The top exchanges for trading in Huobi Token are currently Huobi Global, HBTC, Dsdaq, Hydax Exchange, and Xtheta Global although there are other various small platforms but they don't have higher trust score less volume and less liquidity, so the best to go is buy from the official exchange ie. Huobi.

What can you do With HT?

There are various advantages that you get for holding HT on your huobi account, like using them for lower transactions fee, use them to purchase VIP level status and enjoy much lower transaction fees.

Dust conversion ?

You can directly convert your small balance into HT token by clicking on this option, then you will find a list of available small balance then you can select them to convert into HT.

Small balance are <0.01(BTC) remember that handling fee will be applied and you can only perform dust conversion once every 24 hours.

Lock HT to mine HPT (Huobi pool token)

If you are holding HT on huobi in idle position then you can lock them into HT mining pool to earn HPT tokens for free, you can lock them according to your preference. Flexible period or for a certain maturity period to earn returns.

Huobi Global adds newly-launched tokens to the Newest Tokens Mining platform to benefit miners. You can Lock your HT to enjoy huge airdrop bonuses of the Newest Tokens.

Huobi savings

You can also lock your Idle USDT or BTC in huobi exchange and earn return on your investment on form on annual yield.. Locking USDT can get you higher annual returns in comparison to BTC.

How to transfer into savings ?

• Go to your wallet balances there you will see, deposit, withdrawal and Transfer from there you can transfer your crypto to various accounts.

• List of accounts you can transfer to.

P2P On huobi

Just like other leading Exchange huobi global also provide you P2P feature where you can directly buy or sell assets with other users, rather than selling or buying at exchanges although this feature requires KYC verification.

On huobi you can buy or sell 8 type of Crypto in p2p which are USDT, ETH, XRP, BTC, LTC, HT, EOS and HUSD.

You can also buy digital assets directly from your cards for this you will have to verify your KYC on huobi.

Refernces

Coinmarketcap

Huobi data

Huobi global

100% power up post