How to buy Huobi BTC (HBTC) in Australia
Learn how to buy Huobi BTC (HBTC) easily by following a step-by-step guide and compare 10+ crypto exchanges.
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How to buy Huobi BTC
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Huobi BTC.
- Open an account on an exchange that supports HBTC.
Unfortunately, at this time no major exchanges in Australia offer HBTC, but you may be able to purchase it with another cryptocurrency. Just be sure to follow all legal restrictions and requirements.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Huobi BTC.
- Buy Huobi BTC.
Complete your Huobi BTC purchase and then find the best wallet to store HBTC.
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.
Huobi BTC (HBTC) is the 76th largest cryptocurrency in the world by market cap, valued at $2,052,986,626. The current price of Huobi BTC is $51474, which is 5.728% higher than yesterday. Prices have ranged between $51735 and $48243 over the past 24 hours. All prices are listed in US dollars and accurate as of December 07, 2021 12:12 UTC.
Where to buy Huobi BTC
Unfortunately, at this time no major exchanges in Australia offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
Huobi BTC at a glance
|Total HBTC supply||39,884|
|All time high||US$69,325.00|
Huobi BTC price performance over time
How to sell Huobi BTC
You can cash out 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 sell it on.
- Place a sell order.
Choose the amount of HBTC you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Huobi BTC.
What to consider when buying Huobi BTCHuobi 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.
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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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