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How to get started with HT: Buying, selling and storing Huobi Tokens

In this step-by-step guide, find out where to buy Huobi Tokens in Australia and more.

Huobi is a global digital asset exchange run by Huobi Global Limited. With offices in Singapore, the United States, Japan, Korea and Hong Kong, the exchange platform allows its users to trade more than 190 currency pairs.

In January and February of 2018, Huobi also launched its own token. Huobi Tokens entitle Huobi account holders to discounted trading fees and also offer a few other key benefits to holders. Let’s take a closer look at the easiest way to buy, sell and store these tokens.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Quick guide to buying Huobi Tokens (HTs)

  1. Register for an account with Huobi.
  2. Enable 2-factor authentication.
  3. Select “Balances” and click “Deposit & Withdraw”.
  4. Find the currency you want to transfer and click “Deposit”.
  5. Click on “Exchange” tab.
  6. Click on currency pair you want to trade, such as “HT/BTC”.
  7. Choose “Limit Order” or “Market Order”.
  8. Enter the amount of HT you want to buy.
  9. Review all the transaction details.
  10. Click “Buy HT”.

Where to buy Huobi Tokens

You can buy Huobi Tokens on the Huobi cryptocurrency exchange.

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Huobi Cryptocurrency Exchange
Cryptocurrency
-
BTC, ETH, HT, LTC, PAI, BCH, XRP, DASH, IOST, EOS, TRX, ETC, OCN, ONT, ELF, ABT, CMT, ELA, ZEC, XZC, OMG & 75+ more
Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.

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A step-by-step guide to buying Huobi Tokens

For detailed instructions on how to buy HTs, check out the step-by-step guide below.

Step 1. Register for an account with Huobi

As Huobi is the only exchange where you can buy Huobi Tokens, you’ll need to sign up for an account by providing your email address and creating a password. Make sure that you also enable 2-factor authentication on your account to provide an extra level of security for your funds.

Step 2. Deposit funds into your account

You can trade HT against three other digital currencies – bitcoin (BTC), ether (ETH) and Tether (USDT) – so you’ll need to first acquire one of these currencies. For details on how to purchase any of these assets, check out our how to buy BTC, how to buy ETH and how to buy USDT guides.

If you need to transfer BTC, ETH or USDT into your Huobi account from a separate wallet, hover your mouse over the “Balances” tab at the top of the screen and select “Deposit & Withdraw” from the drop-down menu. You can then choose the coin you want to use and click on “Deposit” to access the relevant wallet address.

Step 3. Buy HT

Once the crypto funds have arrived in your account, click on the “Exchange” tab at the top of the screen. You can then click on the currency pair you want to trade, such as “HT/BTC”, and choose either a limit or market order.

Next, enter the amount of HT you want to buy or the amount of BTC you want to spend. Make sure you review the full details of the transaction, including the total cost, before you click “Buy HT”.


How to sell Huobi Tokens

The process for selling tokens is quite similar to the process for buying tokens outlined in step 3. Just make sure that you enter your transaction details in the “Sell HT” tab rather than using the “Buy” field. It’s also important to remember that HTs can only be traded against three other digital currencies, so you may not be able to exchange your tokens for the currency you want.


Which wallets can I use to hold Huobi Tokens?

You can store your Huobi Tokens in the wallet attached to your Huobi exchange account. With this in mind, don’t forget to set up 2-factor authentication on your account so that any tokens you hold are protected by an extra layer of security.

Keen to know more about storing cryptocurrency? Check out our guide to wallets.


How Huobi Tokens work

Huobi Tokens are the basis of Huobi’s loyalty points reward system for customers. Launched in early 2018, these tokens have multiple uses, but their key benefit is that they entitle holders to enjoy discounted trading fees on the Huobi exchange.

HTs can be used to purchase VIP memberships on the exchange – the more HTs you pay, the higher your membership tier and the greater the fee discount you receive.

Membership levelCostTrading fee discount
VIP 1120 HTs/month10%
VIP 2600 HTs/month20%
VIP 31,200 HTs/month30%
VIP 46,000 HTs/month40%
VIP 512,000 HTs/month50%

HT holders will also be able to enjoy access to exclusive events, such as receiving airdrops of tokens newly listed on the exchange, and can use their HT holdings to vote for the coins and tokens they want to see listed on the Huobi Autonomous Digital Asset Exchange (HADAX).

Huobi Tokens can be traded against BTC, ETH and USDT, and users can also acquire HTs by purchasing “Point Cards” through their exchange account. They can also be offered as rewards for new users and members of the Huobi Knights recruitment program.


What to consider if buying Huobi Tokens

The volatility of cryptocurrencies is widely known, but what some people aren’t aware of is just how complicated these digital assets actually are. There are many competing factors that can influence the value of a currency, so you’ll need to thoroughly research those factors when deciding whether or not to buy.

If you’re thinking of purchasing any Huobi Tokens, consider the following:

  • Supply. The maximum supply of HT is capped at 500 million tokens. According to CoinMarketCap, the circulating supply of tokens in June 2018 was 50,000,200 HT.
  • Distribution. 60% (or 300 million) of the total HT supply will be given away for free for those who purchase point cards. 20% more (or 100 million tokens) are reserved for user rewards and platform operation, with the remaining 20% reserved as team incentive and subject to a four-year vesting schedule.
  • Buyback. Each season, Huobi acquires a portion of Huobi Tokens on the open market through a buyback scheme. These tokens are then held in the Huobi User Protection Fund, which the platform says will be used to protect users’ interests and compensate customers for their losses in case of emergency.
  • Huobi. As Huobi Tokens can only be used on the Huobi platform, make sure you consider the factors that could affect trading volume on the exchange. For example, if a popular new coin gets listed on Huobi, this could generate increased demand. At the same time, if the exchange falls victim to a hack, this could potentially have a negative effect on the price of HT.

By carefully considering all the factors that may have an impact on the value of Huobi Tokens, you’ll be well placed to decide whether or not they’re worth buying.


Picture: Shutterstock


Disclosure: At the time of writing the author holds ADA, IOTA and XLM

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

Tim Falk

A freelance writer with a passion for the written word, Tim loves helping Australians find the right home loans and savings accounts. When he's not chained to a computer, Tim can usually be found exploring the great outdoors.

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