Huobi BTC (HBTC)

Understanding Huobi BTC

Huobi BTC (HBTC) is a cryptocurrency launched by Huobi Global on the Ethereum blockchain on February 14, 2020.

It is designed to maintain a value equivalent to Bitcoin (BTC) while leveraging the flexibility and features offered by the Ethereum network.

Huobi Global is a reputable digital asset trading platform that has gained trust and recognition worldwide, serving millions of registered users from over 130 countries.

This established track record contributes to investor confidence in Huobi BTC.

Empowering DeFi with HBTC

The primary purpose of HBTC is to contribute to the growth of the decentralized finance (DeFi) ecosystem by utilizing BTC as a tool.

It is an asset-backed token with a strict 1:1 peg to Bitcoin.

Here are some key features of Huobi BTC:

  • Hard Pegged to BTC: HBTC maintains a strict 1:1 peg to Bitcoin.
  • Improved Trading Experience: HBTC transfers offer faster confirmation times, typically taking five minutes compared to Bitcoin’s usual one hour.
  • Transparency: HBTC is a transparent and verifiable asset. Users can verify transactions on both the Bitcoin and Ethereum blockchains, with details of asset transfers published online.
  • Liquidity: Bitcoin is the most liquid digital asset with a significant market capitalization. HBTC adds to the overall liquidity by strictly pegging to BTC and being deployed on the Ethereum network.
  • Supports Distributed Services: As the primary platform supporting HBTC, Huobi Global allows for distributed agents exchange services.

Users can exchange Huobi BTC for Bitcoin or vice versa on Huobi Global (HBG) or through the official HBTC website.