Huobi BTC Price (HBTC)

What Is Huobi BTC (HBTC)?

Huobi BTC (HBTC) was launched by Huobi Global in February 2020 with the goal of bringing BTC liquidity to Ethereum-based decentralized apps (dApps). HBTC is an ERC-20 token deployed on the Ethereum blockchain and pegged to BTC on a 1:1 ratio. As a result, Huobi BTC has a value equivalent to BTC, with the utility gained through the Ethereum DeFi ecosystem.

Huobi Global is a cryptocurrency exchange that was founded in China in 2013 and is now based in Seychelles. It offers a wide range of cryptocurrencies and trading pairs to its users. Huobi Token (HT) is the native cryptocurrency of the Huobi exchange. In addition to being a crypto exchange, Huobi has launched a $100 million venture fund.

Who Are the Founders of Huobi BTC?

Huobi Global was founded in 2013 by Leon Li, who currently serves as the CEO.

Li graduated from Tsinghua University in 2013. Prior to Huobi Global, Li worked as a computer engineer at Oracle Corporation, one of the largest US-based software companies. Huobi Global is based in the Republic of Seychelles, while Huobi Asia is headquartered in Singapore, with plans to move to Hong Kong.

What Makes Huobi BTC (HBTC) Unique?

HBTC serves as a bridge between Bitcoin and the Ethereum ecosystem, providing access to decentralized finance (DeFi) protocols like Uniswap, Curve or Balancer.

HBTC has a higher transaction speed and lower handling fees. Service fees are negligible thanks to two-way exchange support. Furthermore, all transaction details are publicly available, and in reserve pools, users can check the number of issued tokens.

HBTC utilizes a multi-channel system, so users can choose a profitable channel to mint and burn Huobi BTC. HBTC tokens are fully redeemable due to 100% reserve.

Related Pages:

Read about renBTC (RENBTC) and Wrapped Bitcoin (WBTC) — other Bitcoin-pegged tokens on the Ethereum network.

What is Huobi BTC? Find out with the CMC glossary.

Learn more in our deep dive into Huobi Token (HT) — the native token of Huobi Global.

How Many Huobi BTC (HBTC) Coins Are There in Circulation?

Huobi BTC (HBTC) is an Ethereum-based, ERC-20 standard token.

Huobi BTC is backed by BTC at a 1:1 ratio, thus the circulating supply of tokens is directly dependent on the amount of Bitcoin reserves and HBTC minted. At the time of writing, there are 8,969.5 HBTC in circulation.

How Is the Huobi BTC network Secured?

Huobi BTC (HBTC) is an ERC-20 token on Ethereum, which is secured by a Proof-of-Stake (PoS) consensus mechanism. PoS is a secure and energy efficient algorithm that uses randomly selected validators to confirm transactions and add new blocks to the blockchain.

Where Can You Buy Huobi BTC (HBTC)?

Users can purchase HBTC on decentralized exchanges (DEXs) like MDEX and MakiSwap, and centralized exchanges (CEXs) like FMFW.io.

Download the CMC mobile app to track prices of HBTC in real-time.