Based on the growing popularity of the Binance Coin cryptocurrency, which was issued with the same exchange resource, the developers of the trading platforms started creating similar projects to provide users with the opportunity to work with the instrument for calculating commission fees. One of such systems was Huobi Token, which will be discussed in this article.
The Huobi Token basic information
The Huobi Token digital currency is represented by a cryptocurrency product based on the Huobi exchange service. The Huobi Token altcoin is created as an additional tool for calculating commission fees for transactions within the Huobi system. In addition, Huobi Token coins can be used as a trading asset when interacting with currencies such as Bitcoin, Ether and US dollar.
Full information about the project can be found on the official website of the company https://www.huobi.pro.
Specificity of the Huobi Token
Quite recently there was an issue of HT coins – the Huobi exchange was issued 500 million tokens. The cryptocurrency is based on the ERC20 protocol. To guarantee the value of its domestic currency, the Huobi exchange site will use a fifth of its revenue quarterly to buy HT coins – the funds will be used for the activities of the Huobi Investor Protection Fund.
Buying Huobi tokens
It is logical to assume that HT coins are traded on the Huobi exchange service. The calculation for the acquisition of cryptocurrency is carried out in the equivalent of Bitcoin, Ethereum, Litecoin and other popular digital assets. The source for storing and working with HT tokens is provided by the Huobi exchange-founder of cryptocurrency. At the time of publication of the review, the cost of the HT coin is $ 1,80, with daily trading volume above $ 56 million.
The Huobi Token cryptocurrency conclusions
The Huobi Token system is characterized by quite good prospects given that the Huobi exchange service, which issued this token, takes the 3rd place in terms of daily turnover of funds in the list of cryptocurrency exchange resources. The growth of the price of HT coin is to be expected quarterly at the moment of buying of coins by the stock exchange-founder with the purpose of their transfer to the reserve of the Fund.