Cryptocurrency Huobi Token: full review, exchange rate and prospects
Huobi Token is the brainchild of the well-known crypto exchange Huobi, which is one of the giants of the industry. This ERC20 token is still quite young. The first Huobi crypto news about the new token appeared on January 23, 2018. The following is a Huobi crypto review.
The main idea is to reduce commissions on exchange trading, which are paid from users’ wallets. But this is not all that this cryptocurrency has to offer. If you didn’t know how to buy crypto on Huobi, it is much easier and even cheaper to do it with this exchange token. Also, if you were looking for the answer, how to send crypto from Huobi, you can exchange assets for HT. Then you can exchange them for fiat or stablecoins.
History of Huobi crypto coin
The interesting fact is that the owners of the exchange didn’t just suddenly decide to release their token to the world. They were inspired by the previous success of the tokens of their competitors from the Binance platform and decided to try their forces in this direction. They also had to solve the problem of exchanging Huobi fiat to crypto. And today on the Huobi global crypto list, this coin has a place of honor.
Advantages of using Huobi crypto coin
Before moving on to the predictions and prospects, it is important to understand the benefits that the HT token offers to its main users, namely traders:
- Reduced commissions on exchange fees on transactions by up to 50%, provided they are paid exclusively in the exchange’s domestic currency;
- Regular purchase of tokens or Huobi converts crypto on the market by the exchange itself – about 20% of the platform’s income is spent on these operations;
- All tokens redeemed by the exchange are transferred to a special investor protection fund designed to compensate for possible financial losses of the platform’s users;
- All token holders receive bonuses to their HT wallets, depending on the number of coins returned to the exchange;
- The site makes everything possible for the most convenient and easy exchange of HT to other currencies;
- Owners of the internal currency get the opportunity to take part in voting on certain issues related to developing the exchange.
From this it becomes clear how carefully the creators treat their creation, how they look after the welfare of their investors. Therefore, there should be no doubt that Huobi token as a cryptocurrency is quite promising, because one of the largest cryptocurrency exchanges in the world stands behind it.
Prospects for the Huobi crypto coin
Two main parameters can judge the investment prospects of HT: the increase in the number of traders on the Huobi platform, as well as the growth of the cryptocurrency market. In the first case, local demand for the token increases, and in the second case, there will be an overall increase in demand for most stable cryptocurrencies.
Now the cryptocurrency is systematically evolving, thereby strengthening the new model on the platform. The management of Huobi has repeatedly stated that their main goal is to give benefits and protect the funds of regular users and investors. Thanks to the constant support of developers, HT’s rate hikes are mostly fixed only on quarterly purchases of the token.
Huobi crypto price: Forecast
Huobi has no critical need to gather a user base, as they are already present and actively use the token within the exchange. And additional incentives from the company are only fueling interest in the cryptocurrency from outside observers, who see this token as one of the promising options.
Such tokens are created solely for the needs of the organization and to solve internal issues. Of course, such a narrow scope of application limits potential growth opportunities. but at the same time offers stable development without technical risks and constant relevance within the exchange ecosystem.
The token can still be seen as a possible investment option for short-term investments. Knowing exactly the quarterly purchasing periods of HT developers, it is possible to predict the growth and the resulting rate correction to get a stable profit. In the long term, only regular users of the platform will benefit from using the Huobi token.
As of the end of 2020, the Huobi token is still off to a low start and could “shoot up”. The cryptocurrency has stable support in the form of a large global exchange and an established user base. Today, HT looks like an undervalued coin compared to other exchange tokens like Binance.
The popularity of the Huobi token is higher in Asia, while North America and Europe are still only looking at it. If the company decides to actively promote its token outside the Asian region, the cryptocurrency’s popularity will increase, as it did with other exchange tokens before. Therefore, Huobi crypto price has opportunities for growth.