Huobi BTC (HBTC) is the 1067th largest cryptocurrency by market cap, valued at US$20,803,791.
Huobi BTC is a highly volatile asset capable of major price swings in a single day. Today HBTC is trading for $21475 USD, which is higher than yesterday's trading price of $12,804.62 USD. Over the past year, Huobi BTC's price has seen a decrease of -25%.
So before you buy Huobi BTC, make sure you understand these unique risks as well as its legal and tax status here in
Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy Huobi BTC.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy Huobi BTC in 5 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Huobi BTC is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Huobi BTC
You can now exchange your funds for Huobi BTC. On beginner-friendly exchanges, this is as simple as entering the AUD or HBTC amount you want to purchase and clicking "buy".
Secure your Huobi BTC
Consider transferring your HBTC to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy Huobi BTC in
Australia
Find an exchange to buy, sell and trade HBTC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this Huobi BTC guide up-to-date
HBTC price data is regularly updated through data feeds so you always have the latest information.
What is Huobi BTC?
Huobi is a major cryptocurrency exchange primarily focused on the Asian market. Alongside the cryptocurrency exchange, it also operates the eighth largest Bitcoin mining pool in the world.
Huobi BTC is an ERC-20 token issued on the Ethereum blockchain. It's designed to track the price of Bitcoin. The HBTC token is 100% backed by BTC, which means it can maintain a 1:1 peg. It is claimed that every HBTC token minted is backed by a BTC coin.
The token allows users to utilise Bitcoin holdings within decentralised protocols that would otherwise be incompatible. DeFi protocols where the token can be currently used include Uniswap, Curve, Balancer, Nest and ForTube.
How do I find the best places to buy Huobi BTC?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in
Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Huobi BTC?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Huobi BTC.
This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing HBTC with your local currency then you will need to pass KYC.
Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy Huobi BTC?
Once you've created an account, you will need to deposit funds to buy HBTC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy HBTC:
Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
Cryptocurrency: You can usually purchase HBTC by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for HBTC on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Huobi BTC?
The easiest way to buy HBTC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying HBTC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Huobi BTC has been performing recently.
Best Huobi BTC wallets to store your HBTC
You can keep your HBTC on the exchange you purchased it on, or move it to a personal wallet:
Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your HBTC below.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Huobi BTC a good investment?
Huobi BTC strictly tracks the price of Bitcoin, so it's important to remember that the token will be subject to the same market volatility. Here are some factors to consider before purchasing this token:
Bitcoin token on Ethereum: Huobi BTC is a form of wrapped token that aims to allow users to use Bitcoin on Ethereum-based decentralised applications (dapps). It's comparable to other tokens such as Wrapped Bitcoin (wBTC), RenBTC and Bitcoin Proxy (BTCpx).
Fast trading: Using HBTC can be significantly faster than using BTC. The Bitcoin blockchain processes new transactions approximately every 10 minutes. As HTBC transfers across Ethereum's blockchain, transactions can be completed in 5 minutes or less.
Cheaper trading fees: As HBTC is an ERC-20 token, transaction fees are often less than the equivalent Bitcoin blockchain fees.
Huobi suspension: The cryptocurrency exchange suspended mining and other services as a result of China's recent crackdown on cryptocurrencies. It should be a situation to keep an eye on when dealing with this token.
Today's Huobi BTC price versus ATH
Compare today's price of Huobi BTC ($21475 USD) against its all-time-high price of $166135 USD on 21 April 2022. The closer the bar is to 100%, the closer HBTC is to reaching its ATH again.
Huobi BTC's price: $21475 USD ATH date: April 21, 2022
12.93%
Huobi BTC ATH: $166135 USD
How to trade, convert or sell Huobi BTC
You can convert or sell your HBTC with the same exchange you bought it through:
Sign in to the exchange you have HBTC on.
If you store your Huobi BTC in a digital wallet, compare crypto exchanges to convert or sell it on.
Choose Sell or Convert and place a sell order.
Choose the amount of HBTC you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Huobi BTC.
Complete your transaction and move your HBTC to a crypto wallet for storage.
Disclaimer: Cryptocurrencies, including Huobi BTC, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of HBTC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Huobi BTC or any other cryptocurrency discussed.
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