Huobi Token data

Huobi Token Review

Huobi Token (HT) is a token of one of the most popular exchanges in Asia, Huobi. This is not the first token of cryptocurrency exchanges, for example, previously it was implemented by Binance, BitMex, and others. Huobi Exchange plans to use an HT token to pay commissions when making payments and solving other problems. 

The launch of own token by exchanges is a trend in the cryptocurrency world. Such a decision increases capitalization and is a step towards customers in the matter of commissions. In addition, it works as a good marketing tool, attracting the attention of investors and traders.

Token assignment

But the Huobi group created its token to solve another big problem. After the restrictions adopted by Chinese financial regulators, the exchange received a huge loss. At one point, trading decreased by 95%, and even temporarily had to suspend the platform. Instead of the usual attraction of investments, the management decided to launch Huobi token (ht).

HT token is developed on the Ethereum platform according to the ERC-20 standard. Huobi token is a kind of “fuel” for the exchange, as it provides transactions, payment of fees and more. At the moment, the coin solves the following tasks:

- payment of commissions on the platform;

- purchase of VIP status on the Huobi exchange;

- vote for the adoption of new coins on the autonomous HADAX exchange.

Employment

The token cannot be mined, the emission is limited. You can purchase it, first of all, on Huobi. HT is also available on several exchange exchanges, but since it is exclusively an internal token of the exchange, buying it in third-party listings makes little sense. With a market capitalization of $ 230 million, the coin rate ranged from $ 1.5 at the start of sales to $ 6 in the summer of 2018.

Huobi Group has developed for its token holders its own Huobi Wallet wallet, which can also store 1000+ other coins on different protocols and algorithms. In addition, you can keep the token on any Ethereum wallet with ERC-20 support. But the best option is to leave your tokens on the Huobi exchange because in this case, you will get the benefit and advantage of owning HT. Since the Huobi Exchange provides for the use of a token only within its ecosystem.

Although the Huobi exchange token cannot be considered either a means of payment or an investment tool, it is an important element of the exchange. In addition, the Huobi group does not consider it solely as a tool, setting itself the goal of making one of the most stable and reliable cryptocurrencies, including for storing assets.

On Neironix.io, you can learn more about the HT token and track its position at a given time