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Reasons Why Investing in Huobi Token Might be Lucrative This Year

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Huobi Token
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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.

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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.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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