How to buy Huobi Token (HT)

Beginner’s Guide

 
What Is Huobi Token (HT)?

Huobi Token (HT) is the native token of the cryptocurrency exchange Huobi Global. It is a decentralized digital asset based on the Ethereum blockchain and is ERC-20 compliant. HT’s value is in part reliant upon the reputation of the Huobi crypto exchange, yet other factors also have an impact.

To learn more about this project, check out our deep dive of Huobi Token.

Huobi Token is a relatively young project. It first launched in January 2018, hot on the heels of the release of a native token on rival crypto exchange Binance. Having its own token allows Huobi to build a flexible marketing strategy in order to attract new users and further grow its platform.

One key function of the token is to reduce commissions for trading operations on the exchange, which are usually paid from users’ wallets. Yet the token has much more to offer. Using HT, users can purchase monthly VIP-status plans to receive discounts on transaction fees. Token holders have the right to vote on exchange decisions, can receive crypto rewards for seasonal buybacks, and also get early access to special events. HT holders can, at any point, trade the token for other cryptocurrencies.

 
How to Buy Huobi Token Summary

 

Buying Huobi Token in 3 Simple Steps

 

Step 1 – Get a HT wallet

Ledger

Hardware Wallet

supported :

Desctop & Mobile

Trezor

Hardware Wallet

supported :

Desctop

Exodus

Software Wallet

supported :

Desctop & Mobile

Guarda

Software Wallet

supported :

Desctop & Mobile

Atomic Wallet

Software Wallet

supported :

Desctop & Mobile

Huobi Token Hardware Wallets

Huobi Token (HT) is an ERC-20 token, which means it can be stored in any Ethereum-compatible wallet. However, for added security, some users prefer to store their cryptocurrencies in hardware wallets. Here are some hardware wallets that support Huobi Token:

  1. Ledger Nano S: The Ledger Nano S is a popular hardware wallet that supports Huobi Token. It uses a secure element to store private keys and provides a physical button to confirm transactions.

  2. Ledger Nano X: The Ledger Nano X is the upgraded version of the Nano S, with added Bluetooth connectivity and more storage capacity.

  3. Trezor Model T: The Trezor Model T is a user-friendly hardware wallet that supports Huobi Token. It features a touchscreen and provides users with advanced security features such as passphrase protection.

  4. KeepKey: KeepKey is a hardware wallet that supports Huobi Token and other cryptocurrencies. It features a large screen and provides users with a simple and intuitive interface.

It’s important to note that while hardware wallets offer additional security, they should not be the only means of accessing your cryptocurrency. Always make sure to keep a backup of your recovery seed phrase and follow best practices for securing your digital assets.

The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.

Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.

If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.

 

Huobi Token Software Wallets

Huobi Token (HT) is an ERC-20 token, which means it can be stored in any Ethereum-compatible software wallet. Here are some popular software wallets that support Huobi Token:

  1. MyEtherWallet: MyEtherWallet is a free, open-source, client-side interface for creating and managing Huobi Token wallets. It is compatible with multiple hardware wallets and allows users to interact with the Ethereum blockchain.

  2. Trust Wallet: Trust Wallet is a mobile wallet that supports Huobi Token and other cryptocurrencies. It features a simple and intuitive interface and provides users with a range of security features such as fingerprint recognition and PIN codes.

  3. MetaMask: MetaMask is a browser extension wallet that supports Huobi Token and other Ethereum-based tokens. It allows users to interact with decentralized applications (dApps) and provides secure storage of private keys.

  4. Exodus: Exodus is a multi-currency software wallet that supports Huobi Token and other cryptocurrencies. It features a user-friendly interface and allows users to manage their assets from a single application.

It’s important to note that while software wallets are convenient and accessible, they are also more susceptible to hacking and cyber attacks. Always make sure to keep your software wallet updated and follow best practices for securing your digital assets.

Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.

A software wallet is a free program that lets you store your coins on your computer or mobile phone.

The easiest Huobi Token coin software wallets to get started with are undoubtedly Exodus, AtomicWallet and Guarda . All wallets are very intuitive. Exodus, Atomic Wallet and Guarda is available on desktop for Windows, Mac and Linux, as well as on mobile for both iOS and Android.  If you want more information you can read my Exodus, AtomicWallet and Guarda review.

 

Step 2 – Find an Huobi Token (HT) Exchange

Huobi

Payment methods:

Credit/debit card,

 

Kucoin

Payment methods:

Credit/debit card

 

GATE

Payment methods:

Credit/debit card,

 

MEXC

Payment methods:

Credit/debit card,

 

Poloniex

Payment methods:

Credit/debit card,

 

Buy Huobi Token through Huobi
  • Huobi is a Seychelles-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, South Korea, Japan and the United States. In August 2018 it became a publicly listed Hong Kong company. Following a 2017 ban on Bitcoin exchanges by the Chinese government, Huobi stopped Bitcoin withdrawals.
Buy Huobi Token through Kucoin
  • Kucoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users from 700+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique ranking is in the top 5 globally. Known as the “People’s Exchange”, KuCoin operates in Seychelles, providing users with multi-language and 24/7 customer service. Meanwhile, KuCoin has established local communities all over the world in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions, providing users with the most local services. Currently, 1 out of every 4 crypto holders in the world is with KuCoin.
Buy Huobi Token through Gate.io
  • Gate.io is a crypto exchange founded in the fall of 2017. The platform is a part of Gate Technology Inc corporation, and has a registration address in Virginia, USA. The platform does not have an official license. Its interface is available for working in three versions: English, Chinese and Japanese.
Buy Huobi Token through MEXC
  • Founded in 2018, MEXC Global is known as the exchange of high performance and mega transaction matching technology. The team at MEXC Global are some of the first movers and pioneers of financial and blockchain technology. Currently, MEXC Global caters to 10 M+ users in more than 170 countries around the world and we have just started.
Buy Huobi Token through Poloniex
  • Poloniex is a cryptocurrency exchange founded by Tristan D’Agosta in January 2014. In February of 2018, it was acquired by Circle for an estimated $400M, and subsequently “spun out” in October 2019. In November 2019, Justin Sun, founder of Tron, revealed that he led the acquisition of the “spin out”.

 

Step 3 – Withdraw Your Huobi Token (HT)

Once you decide on an exchange, open an account and buy your Huobi Token. Make sure to withdraw the Huobi Token from the exchange to your personal wallet.

Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .

 

OVERVIEW

 
 
Who Are the Founders of Huobi Token?

Huobi Token (HT) was launched by Huobi Global, a cryptocurrency exchange that was founded in 2013 by Leon Li. However, the development of Huobi Token was not led by a specific founder but by a team of professionals at Huobi Global.

Huobi Global was initially based in China, but it has since moved its headquarters to Singapore due to regulatory issues in China. The exchange has become one of the largest in the world and has expanded its services to include spot trading, margin trading, futures trading, options trading, and more.

Huobi Token was launched in January 2018 as part of Huobi Global’s efforts to provide additional benefits to its users. The token is designed to incentivize users to hold and use Huobi Global’s platform and provides access to exclusive events, rewards, and discounts on trading fees.

 
What Makes Huobi Token (HT) Unique?

Huobi Token (HT) is a unique cryptocurrency in several ways. Here are some of the key features that make HT stand out:

  1. It provides discounts on trading fees: HT holders can enjoy significant discounts on trading fees when using Huobi Global’s platform. The size of the discount depends on the amount of HT held and the user’s trading volume.

  2. It provides access to exclusive events and rewards: HT holders can participate in exclusive events and receive rewards such as airdrops, trading fee discounts, and more. These benefits are not available to non-HT holders.

  3. It has a limited supply: There will only ever be 500 million HT in existence, and the supply is gradually decreasing due to the token’s buyback and burn mechanism.

  4. It is used to vote for project listings: HT holders can use their tokens to vote for which projects should be listed on the Huobi exchange. This provides a level of community involvement and decentralization in the exchange’s operations.

  5. It is backed by a reputable exchange: Huobi Global is one of the largest and most reputable cryptocurrency exchanges in the world, with a strong track record of security, reliability, and innovation.

Overall, Huobi Token provides a range of benefits to users of the Huobi Global platform, and its limited supply and buyback and burn mechanism could potentially lead to price appreciation over time.

 
How Many Huobi Token (HT) Coins Are There in Circulation?

The launch of Huobi Token took place at the beginning of 2018 and did not proceed according to the standard ICO scheme. To begin with, Huobi distributed HT tokens directly to VIP users and regular traders could buy a package of services with a certain amount of tokens. As distinct from an ICO, this method of distributing coins is called an initial exchange offering (IEO).

Huobi Token has a limited total supply of 500 million. After its launch, 60% (300 million coins) were allocated among the users of the exchange and the company kept aside 40% (200 million coins) in reserve.

The decision to create its own token led to an increase in the exchange’s capitalization. The token also helped to encourage users to remain loyal to the platform by offering them exclusive advantages through its various functions.

 
How Is the Huobi Token Network Secured?

The Huobi ecosystem uses a distributed architecture and anti-DDoS protection system to bolster security. In addition, 98% of the currency is stored in a multisig cold wallet. The exchange also uses a risk control system dubbed “Don’t Be Evil” to ensure the safety of users’ accounts and assets.

Since 2018, the platform has used an asset protection system called the Security Reservation Mechanism. In parallel, Huobi also launched its Investor Protection Fund in January of that year. Thanks to these measures, HT holders are insured against financial losses that may arise as a result of fraudulent activities or other risks associated with cryptocurrency trading.