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How to buy Huobi BTC (HBTC)
Learn how to buy Huobi BTC (HBTC) in our step-by-step guide.
Where to buy Huobi BTC
It looks like HBTC may not be available to purchase on an exchange in the US.
You can still purchase HBTC by using a decentralized exchange (DEX) instead. Decentralized exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.
Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you're unfamiliar.
How to purchase HBTC using a decentralized exchange.
- Find HBTC on a decentralized exchange and make sure Huobi BTC can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for HBTC using an exchange like Gemini. You will need to purchase enough ETH to swap for HBTC as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for HBTC on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalize and the HBTC tokens will arrive in your wallet.
- You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.
You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.
Best Huobi BTC wallets to store your HBTC
You can keep your HBTC on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Huobi BTC a good investment?Huobi BTC strictly tracks the price of Bitcoin, so it’s important to remember that the token will be subject to the same market volatility. Here are some factors to consider before purchasing this token:
- Bitcoin token on Ethereum: Huobi BTC is a form of wrapped token that aims to allow users to use Bitcoin on Ethereum-based decentralized applications (dapps). It's comparable to other tokens such as Wrapped Bitcoin (wBTC), RenBTC and Bitcoin Proxy (BTCpx).
- Fast trading: Using HBTC can be significantly faster than using BTC. The Bitcoin blockchain processes new transactions approximately every 10 minutes. As HTBC transfers across Ethereum’s blockchain, transactions can be completed in 5 minutes or less.
- Cheaper trading fees: As HBTC is an ERC-20 token, transaction fees are often less than the equivalent Bitcoin blockchain fees.
- Huobi suspension: The cryptocurrency exchange suspended mining and other services as a result of China’s recent crackdown on cryptocurrencies. It should be a situation to keep an eye on when dealing with this token.
Additional information about Huobi BTC can be found using our HBTC analysis tools.
Today's Huobi BTC price versus ATH
Compare today's price of Huobi BTC ($19275.85 USD) against its all-time-high price of $166135 USD on 21 April 2022. The closer the bar is to 100%, the closer HBTC is to reaching its ATH again.
ATH date: April 21, 2022
Huobi BTC ATH: $166135
How to trade, convert or sell Huobi BTCYou can convert or sell your HBTC with the same exchange you bought it through:
- Sign in to the exchange you have HBTC on.
- If you store your Huobi BTC in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of HBTC you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Huobi BTC.
- Complete your transaction and move your HBTC to a wallet for storage.
Disclaimer: Cryptocurrencies, including Huobi BTC, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of HBTC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Huobi BTC or any other cryptocurrency discussed.
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