Connect with us

Blogs

Reasons Why Investing in Huobi Token Might be Lucrative This Year

Published

on

Huobi Token

The cryptocurrency market that was initiated with only one prime digital currency named Bitcoin now contains more than eighteen hundred tradable coins. As a result, the competition among various coins to gain a formidable price and market capitalization is becoming increasingly difficult. Under the circumstances, a significant number of cryptocurrency exchanges are launching their own default currencies for the convenience of the millions of traders across the globe and to increase their net profit at the same time. Binance, the largest cryptocurrency exchange, was the pioneer in launching its own default token named Binance Coin (BNB). After this, a few more very popular exchanges followed the same path. Huobi is certainly one of the most renowned names among those exchanges.

As an exchange, the eminence of Huobi is incontrovertible as it is an inseparable part of the Asian cryptocurrency market consisting of nations like China, Japan, Hong Kong, Singapore, and many others. This Singapore based exchange also has an office in the United States for controlling markets outside Asia. Huobi Token (HT) was first introduced to the traders on 3rd February 2018 as an Ethereum based ERC-20 token. Unlike most other coins, HT didn’t have an ICO phase and traders can acquire this token by purchasing “point cards” from its parent exchange.

Here, various aspects of this new exchange-originated token would be discussed to elucidate the fact why investing in it might be a good decision this year.

Key Features of Huobi Token:

While launching this cryptocurrency, the development team of Huobi Pro exchange incorporated some very innovative features in this token. Some of them include:

  • Huobi Points and Transaction Fee Discount: According to the rules of Huobi exchange, Huobi tokens can be only purchased Huobi’s distinct prepaid cards known as the “point cards”. By using these cards, the investors can not only buy HT but also can purchase various levels (5 levels to be precise costing from 120 HTs to 12,000 HTs per month) of VIP statuses associated with this coin. The coin also comes with a transaction fee discount (up to 50% according to the VIP status) that is beneficial for investors trading in huge volumes of certain assets or cryptocurrencies.
  • Liquidity Protection: Every quarter the Huobi Pro exchange itself purchases Huobi Tokens in the open market to maintain the liquidity of this digital coin. As the total distribution of HT is strictly limited to 500 million among which only 60% (i.e. 300 million) could be purchased by using point cards, this activity of Huobi Pro makes a pivotal impact on the coin’s circulation and overall popularity. The amount of Huobi Token purchased by the exchange is safely stored in the Huobi Pro Protection Fund in order to protect users’ interest and to indemnify them in case of losses. Huobi Pro uses 20% of its income for this buyback process.
  • Exclusive Events: Huobi Token holders can take advantage of the exclusive new listings and various other events like token giveaways or airdrops. As Huobi is one of the prime exchanges (6th in the market) with several popular cryptocurrencies, HT holders can always broaden their prospects by investing in other coins as well.
  • Effective Communication: As Huobi is an exchange, a significant number of cryptocurrency communities send their respective requests for token listing on a regular basis. HT holders have the access to the latest information about which coins got listed after Huobi Pro’s rigorous evaluation process. The token holders can cite their suggestions as well as the listing of new coins.
  • A cornucopia of Airdrops: HT holders can randomly receive airdrops from different cryptocurrencies and ICOs by simply holding onto this coin. For ambitious traders, this feature presents itself with a cornucopia of lucrative trading options.
  • Security: Huobi Pro is one of the most secure cryptocurrency exchanges in the world with an impregnable encryption code that hides all transactions and activities from Trojan and other malicious websites. Consequently, its default currency Huobi Token is also one of the safest currencies to invest at the moment.

Available Pairs of Huobi Token:

Huobi Token can be traded in exchange for Bitcoin, Ethereum, and US Dollar. Almost every cryptocurrency trader has investments in at least one of these coins and as a result, HT offers a hassle-free and convenient trading experience to its users.

Current Condition of Huobi Token:

Despite spending hardly four months as a legitimate cryptocurrency, Huobi Token has been able to make inroads in the market by acquiring a formidable market cap and price. Currently, it holds the 51st position on Coinmarketcap with a price tantamount to $4.99 and a market capitalization of nearly 250 million USD (as of 20th June 2018). Since April 26th of this year, the price chart of HT has been following a steadily upward trend so far with a few minor fluctuations. Its current figures are showing an improvement of 16.28% over the previous ones.

Final Thoughts:

Since the market mayhem occurred in January 2018, a large number of investors are inclining towards coins that offer both stability and security. From the points mentioned above, it is quite evident that this default currency of Huobi Pro exchange is capable of offering both. Also, with the liquidity protection and compensation protocols, traders wouldn’t need to constantly worry about their investments. Although it is nearly impossible to predict a digital currency’s future, it can certainly be said that HT is likely to have a promising and prosperous one if the current trend continues. Therefore, investing in this coin might be a judicious for the new investors this year.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

Continue Reading

Press Release