Huobi BTC is an Ethereum-based token that is backed by Bitcoin, which means that HBTC and BTC can be exchanged in a 1:1 ratio, allowing users to seamlessly interact with the Ethereum DeFi ecosystem.
Huobi BTC 7 key point overview:
- ✔️What is Huobi BTC
- ✔️Who created Huobi BTC
- ✔️Features of Huobi BTC
- Huobi BTC Tokenomics
- How to buy HBTC
- Top 3 HBTC wallets
- What we like about HBTC
What is Huobi BTC
👉 The purpose of the Hubio BTC coin is to make it possible for centralized markets to be interoperable with decentralized protocols, such as Curve, Uniswap and Balancer, and to improve the overall liquidity of DeFi by introducing Bitcoin to the DeFi ecosystem.
👉 Huobi BTC also aims to reduce the cost of entry for Bitcoin into DeFi ecosystems and the reason for choosing Bitcoin is because it is the most liquid asset on the market currently, but it is lacking the utility offered by Ethereum, which is why HBTC is an ERC20 token that is pegged to Bitcoin.
Who created Huobi BTC
👉 The HBTC token was launched by Huobi Global and it was deployed in the Ethereum network in adherence with the ERC20 standards.
👉 Huobi Global is a leading online platform for exchanging hundreds of digital assets and it was founded by Leon Li, who was a computer engineer at Oracle before he developed Huobi Global in 2013.
Features of Huobi BTC
➡️️ HBTC guarantees high levels of liquidity by being pegged to BTC, which is currently the most popular digital asset, with a 1:1 exchange ratio.
➡️️ By making HBTC an ERC20 token, users can enjoy all the utility of the Ethereum blockchain with the high liquidity of Bitcoin.
➡️️ HBTC is also an asset transfer mechanism that significantly decreases transaction confirmation times, from 1 hour to 5 minutes, and reduces trading fees so that rates are the same as all other ERC20 tokens
➡️️ HBTC and BTC are interchangeable, which means that Bitcoin holders can now access Ethereum applications and use many other DeFi protocols by using this token.
Huobi BTC Tokenomics
👉 HBTC is an ERC20 token that is built in the Ethereum blockchain and pegged to Bitcoin in a 1:1 ratio.
👉 Its purpose is purely to allow Bitcoin owners to enjoy the same freedom and utility in the DeFi space as Ethereum token holders, allowing them to access decentralized marketplaces and engage with thousands of dApps and DeFi protocols.
How to buy HBTC
👉 The easiest way to obtain HBTC is by purchasing it from an online exchange, such as Uniswap V3, Hotbit or MDEX.
👉 Once you have created an account with your preferred exchange, your account needs to be funded, which will allow you to purchase digital assets and transfer them to your crypto wallet for storage.
Top 3 HBTC wallets
👉 Based on research, we have compiled a list of the top 3 wallets that are compatible with the Huobi Global ecosystem and suitable for storing HBTC coins.
👉 The Huobi software wallet offers multi-chain support and compatibility with over 20 types of crypto wallets, with a built-in dApp and DeFi browser.
👉 This wallet uses advanced encryption algorithms and supports 13 stablecoins and all major cryptocurrencies.
👉 Trust Wallet is free to download and use, and supports a total of more than 160,000 coins and digital assets, which can easily be traded and managed directly from the wallet.
👉 The MetaMask software wallet can be used to conveniently buy, sell and trade cryptocurrencies using the built-in exchange and it allows you to connect directly to a variety of blockchain apps.
What we like about HBTC
👉 What we like most about HBTC is how it has given Bitcoin a new purpose in the DeFi space and how Huobi Global has found a way to introduce a deeper level of liquidity to decentralized marketplaces by creating this token.
👉 Despite its lack of utility in terms of dApps and DeFi, Bitcoin still remains one of the most popular and valuable digital assets after all these years and now Bitcoin owners can feel the hype and experience the true power of decentralized applications, play-to-earn games, smart contracts, blockchain protocols and more.