Huobi (HT) is the 493rd largest cryptocurrency by market cap, valued at US$92,135,044.
Huobi is a highly volatile asset capable of major price swings in a single day. Today HT is trading for $0.577901 USD, which is higher than yesterday's trading price of $0.5695205619 USD. Over the past year, Huobi's price has seen a decrease of -84%.
So before you buy Huobi, 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.
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 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 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
You can now exchange your funds for Huobi. On beginner-friendly exchanges, this is as simple as entering the AUD or HT amount you want to purchase and clicking "buy".
Secure your Huobi
Consider transferring your HT 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 in
Australia
Find an exchange to buy, sell and trade HT 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 guide up-to-date
HT price data is regularly updated through data feeds so you always have the latest information.
What is Huobi?
Huobi Token (HT) is the native token of the Huobi exchange and its associated platforms. The token was developed using the ERC-20 token standard and is now used to incentivise new and established users based within the Huobi ecosystem. Incentives include access to discounts and governance rights.
Huobi Global is a cryptocurrency exchange with one of the widest range of coins available for trade. It was founded in 2013 by Leon Li and Jun Du. The exchange introduced the platform's native token HT in 2018, following fellow competitor, Binance, that had just released its own utility coin, BNB.
According to Huobi's website, the Huobi Token was developed primarily for the exchange's loyalty program. Those holding HT have the ability to reduce transaction fees, participate in governance proposals, sign up to the VIP program and become eligible for new token airdrops.
How do I find the best places to buy Huobi?
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?
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.
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 HT 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?
Once you've created an account, you will need to deposit funds to buy HT 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 HT:
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 HT by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for HT on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Huobi?
The easiest way to buy HT 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 HT, 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 has been performing recently.
Best Huobi wallets to store your HT
You can keep your HT 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 HT 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 a good investment?
Any cryptocurrency purchase should be evaluated for potential upsides and potential risks. Before investing in HT, here a few points to consider:
Huobi exchange: HT's utility is predominantly tied to the Huobi Global Exchange. To capitalise on the token's perks, it may make sense for the majority of investors to already be using the Huobi exchange or planning on switching to it in the near future. Using Huobi isn't a requirement for owning the token, but the token's value is closely linked to Huobi's userbase, earnings and success as a platform. Those that don't want exposure to Huobi's ecosystem may wish to invest elsewhere.
Token buyback: To deal with inflation, Huobi Group has introduced a token buyback program. 20% of the company's earnings are reserved for this program in an attempt to keep the price of HT somewhat sturdy.
Competition: The Huobi exchange is one of the biggest trading platforms within the cryptocurrency industry. The exchange provides users with a vast range of trading pairs and earning options. However, quite a number of popular exchanges offer loyalty/rewards in native cryptocurrency. This may deter HT adoption. It could be worth comparing Huobi's exchange, ecosystem and tokenomics to its competitors' such as Binance (and BNB) or Crypto.com (and CRO).
Regulatory issues: Huobi's exchange has been on the receiving end of criticism due to its loose regulations and minimal KYC/AML checks. Furthermore, citizens in America cannot use Huobi's exchange, so they may want to consider investing in an alternative coin to get the most out of their assets.
Today's Huobi price versus ATH
Compare today's price of Huobi ($0.577901 USD) against its all-time-high price of $39.66 USD on 12 May 2021. The closer the bar is to 100%, the closer HT is to reaching its ATH again.
Huobi's price: $0.577901 USD ATH date: May 12, 2021
1.46%
Huobi ATH: $39.66 USD
How to trade, convert or sell Huobi
You can convert or sell your HT with the same exchange you bought it through:
Disclaimer: Cryptocurrencies, including Huobi, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of HT 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 or any other cryptocurrency discussed.
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