What is Huobi Token and how to get an instant HT loan
Huobi Token (HT) is the native utility token of the Asian-based crypto exchange Huobi. Huobi is widely considered to be a top exchange serving professional crypto users. Starting in 2013, the exchange originally started out in Chine but then moved to Singapore seeking “crypto refuge” after China’s big crypto crackdown in 2017.
Today, Huobi has offices all over the world in Hong Kong, United States, Japan and Korea. The once simple exchange has blossomed into a multi-part financial ecosystem with crypto trading, margin trading, futures trading and much more. As for the Huobi Token, that was launched in January 2018 and is an ERC-20 utility token that rewards exchange users with cheaper fees when using the platform.
Pros and Cons of Huobi Token
Like any cryptocurrency, each one comes with various pros and cons one should examine before using. For Huobi this is as follow:
- HT HODLers benefit from fee reductions on Huobi exchange
- Huobi does liquidity buybacks every month to reduce circulating supply and increase the token’s price
- HODLers get exclusive rights and access to events
- HT HODLers get voting rights much like stockholders in a company can vote on certain aspects.
- HT funds Huboi Eco, which is the ecosystem of the Huobi Groupe. Tokens are sent to different investment funds that focus on building the blockchain technology within the ecosystem.
- Like all exchange tokens, HT is at the potential risk of harsh crypto regulations.
- Huobi is a centralized exchange. Hence, HT is entirely dependent on the exchange’s success. If Huobi were to shut down for whatever reason, the value of HT would likely disappear completely.
How to get an instant HT loan on YouHodler
Many HT HODLers are very hopeful about the future of HT. Hence, they are looking for innovative ways to use the value o their HT without selling it. YouHodler can help with that.
YouHodler makes it easy to use HT as collateral for an instant loan. To start, simply sign up on YouHodler.com and pass our quick KYC/AML procedure. From there, deposit HT into your YouHodler wallet and decide which currency you’d like to receive a loan in. HT to USD, HT to EUR and HT to GBP are all available options.
So don’t sell HT. Build your portfolio with an instant crypto loan and keep HODLing your favorite assets.
It's worth trying! Forget selling your
with instant crypto backed loans on YouHodler
If you would like to learn more about crypto credits, please continue to the app. Start boosting your crypto portfolio now with YouHodler's crypto lending, convert, buy and sell options.