Good day, traders. In this video, I will give a short review of the HT token from the Huobi exchange. The full name of the coin is the Huobi token. I will tell you all the advantages of this coin, why and how it can be used, prospects, and whether growth is possible in the future. Is it profitable for an investor to keep this token for a long time and is it worth it to trade for a trader? Let’s know about it further!
What is HT coin?
HT (Huobi Token) is a cryptocurrency of one of the largest digital money exchanges Huobi Pro. The purpose of this asset is to be used in a point system when new tokens appear on the exchange. The second goal is to reduce trading fees when trading crypto on Huobi. The third goal is the ability to participate in various competitions and promotions on the exchange. The average coin value ranges from 3 to 6 USDT.
Huobi’s HT idea is similar to other exchanges like BNB from Binance and KCS from Kucoin. In general, for many exchanges that are in the TOP 10, it is normal to create their own tokens to reduce the commission of traders and conduct internal settlements. After all, your own coin on the exchange will increase the turnover, accrue rewards. There is also marketing significance for attracting new traders to the exchange.
For what and how can use HT coin?
Huobi Token is used by the eponymous exchange as an asset that helps connect traders of various trading platforms under Huobi’s control. This, in turn, allows the company to expand and gain a foothold in foreign crypto markets. The value of this coin to investors is that Huobi uses the funds received for blockchain research purposes. And for traders in the opportunity to participate in Lotteries and Voting on the exchange.
HT is only available on two exchanges – Huobi itself and Coindcx. Traded in BTC, ETH, USDT, and some altcoins. Compared to Kucoin Shares, Huobi Token is subject to more price volatility but less than Binance Coin. It will be possible to use the coin for the following purposes: 1) Reducing the commission up to 50% for transfers from the Huobi exchange to another, as well as intra-exchange trading. There is no time limit, unlike Binance.
Promotions and lottery with KCS
2) Redemption of coins by the exchange itself to insurance investors and users. If the exchange is hacked or money is stolen, Huobi token holders will be the first to receive a refund. 3) Privileged access to the early sale of new coins that will later launch on Huobi. One of the biggest advantages of HT investors is to get a new cryptocurrency cheaper than other people.
4) The opportunity to participate in Research, Voting, Lotteries, and various promotions on the exchange. HT owners can vote for the appearance of certain cryptocurrencies on the exchange and receive these coins first. There are sometimes lotteries similar to Binance Launchpad and Kucoin on Huobi. There it is required to buy a certain amount of Huobi Token to receive lottery tickets, and in case of winning, to receive new crypto tokens.
The video on “Huobi Exchange’s HT Coin” is coming to the end. I made a short review of the Huobi token and now you know what and how it should be used. However, I do not recommend investing and holding this asset for a long time. According to my observations, over the past 3 years, the coin moves in the same price range and shows weak growth. But for short-term trading, participation in lotteries and promotions, this token is quite suitable. The video is completed and until the next releases on botcryptotrade.com