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Huobi Token (HT), as the name suggests, is the proprietary cryptocurrency of one of the world’s largest and most popular crypto exchanges, Huobi. Ranking as the 22nd largest cryptocurrency by total market value, HT is recognized as the largest exchange token following Binance. HT Token holders and investors gain additional advantages and the right to participate in special draws on the Huobi cryptocurrency exchange.
Periodic buy-back programs and the listing of other cryptocurrencies on Huobi are known to be significant sources of growth for both the HT Token and its investors. So, what is this rapidly ascending HT Token, what needs to be done to purchase HT Token, and how can one buy it?
What is Huobi Token?
Huobi Token is the in-platform token of the Huobi cryptocurrency exchange, which entered the market in 2013. HT, with a total supply of 500 million, was launched in January 2018. Huobi did not resort to the popular trend of Initial Coin Offerings (ICO) at that time and instead conducted a direct public sale.
While 300 million HT was distributed in the first year, the remaining 200 million was allocated to users participating in various competitions and events. The final 100 million of the 500 million is reserved for the Huobi team and HT Token developers. However, the team cannot sell this at any given moment, which also helps to prevent sell pressure. The HT Token team must adhere to a rule of selling a maximum of 25 million HT each year.
Similar to Binance’s Binance Coin, HT Token also undergoes a token burning process at certain intervals. Huobi allocates a portion of its quarterly revenue for HT burn operations, effectively removing it from the total supply to raise its price.
HT Token users thus have continuous potential for price increases while also enjoying additional advantages on the exchange, such as commission discounts and access to special sales with their HT investment.
Where to Buy HT Token?
The answer to the question of how to buy HT Token or where to buy it is, unsurprisingly, Huobi. HT, being the token of the crypto exchange itself, can be purchased directly from Huobi.
How to Purchase Huobi Token
To purchase HT Token via Huobi, simply follow the steps below:
- To buy HT Token, you must first deposit Tether (USDT), Bitcoin (BTC), or Huobi USD (HUSD) into Huobi.
- After completing the deposit, enter the Spot Transactions section at the top, click on the Exchange tab.
- In the section that opens, select the USDT pair, which has more liquidity and is more commonly used, and then click on HT listed below.
- Next, choose the amount of HT you want to purchase and click on the BUY HT tab at the bottom left.
- This will place your HT purchase order into the market.
