HT Huobi

Huobi Use Cases

Huobi offers a variety of use cases that make it a versatile platform for cryptocurrency traders and investors.

• Trading: Huobi supports a wide range of trading options including spot trading, futures trading, and margin trading. This allows users to buy and sell cryptocurrencies directly, engage in leveraged trading, and participate in futures contracts.

• Staking and Lending: Users can stake their cryptocurrencies to earn yields and lend them to others, providing a way to generate passive income.

• Huobi Token (HT) Benefits: Holding HT tokens offers several benefits, including discounted trading fees, access to exclusive listings, and participation in voting for new project listings on the Huobi Autonomous Digital Asset Exchange (HADAX).

• Financial Services: Huobi provides additional financial services such as OTC (Over The Counter) trading, crypto loans, and structured saving products like Dual Investment.

• Blockchain Ecosystem: Huobi has its own blockchain, Huobi ECO Chain (HECO), which supports decentralized applications (DApps) and offers a low-cost, permissionless smart-contract-enabled network.

• Educational Resources: Huobi offers educational resources and training programs, including Huobi University and advanced blockchain training courses, to help users learn more about cryptocurrencies and blockchain technology.

• Community Engagement: Huobi actively engages with the crypto community through partnerships and initiatives, fostering growth and innovation within the industry.

Pros of Huobi

• Wide Range of Cryptocurrencies: Huobi supports over 300 cryptocurrencies, offering a vast selection for traders and investors.
• No Deposit Fee: There is no fee for depositing funds into Huobi, and users can enjoy bonuses and rewards on their first deposit.
• Various Trading Options: Huobi provides traditional spot trading, futures, derivatives, and margin trading, catering to both beginners and experienced traders.
• Staking and Rewards: Users can stake certain cryptocurrencies to earn interest, with rates ranging from 2% to 15%, and enjoy various bonuses and promotions.
• User-Friendly Platform: Huobi offers a well-designed trading platform and mobile app, making it easy to buy, sell, and stake assets from anywhere.
• 24/7 Live Chat Support: Users can access live chat support at any time, ensuring help is always available.

Cons of Huobi

• Country Restrictions: Huobi is not available in the United States, and derivatives trading is banned in several countries, including China and the UK.
• Withdrawal Fee: The withdrawal fee is not fixed and can be high, depending on the current market situation.
• No Fiat Market: Huobi does not have a fiat market, so users can only trade crypto to crypto, using options like USDT, BTC, ETH, HUSD, or HT.
• High Trading Fees: Huobi's trading fee of 0.2% is higher than some other platforms, such as Binance and ByBit.
• Regulatory Issues: Huobi faces regulatory challenges, which have limited its expansion and availability in certain regions.

Founders of Huobi

Huobi was founded by Leon Li (Chinese: 李林; pinyin: Lǐ Lín), an alumnus of Tsinghua University who previously worked as a computer engineer at Oracle. He established Huobi in 2013.

Investors in Huobi

Huobi has received investments from several prominent entities:

• Dai Zhikang: An early investor who provided angel funding.
• Sequoia Capital: A venture capital firm that invested $10 million in Huobi in 2014.
• Zhen Fund: Another early investor that contributed to Huobi's growth.

These investments have helped Huobi expand its operations globally and establish itself as a leading cryptocurrency exchange.

Halal Status of Huobi

• Halal Status: No
• Reason: The Huobi Token (HT) is considered questionable or not halal by various Islamic finance sources due to its association with lending and interest-based activities within its ecosystem.