Crypto Glossary

Huobi BTC (HBTC)

Launched by Huobi, Huobi BTC or HBTC is a standard ERC-20 token pegged to BTC on a 1:1 ratio.

What Is Huobi BTC?

Huobi BTC is the cryptocurrency launched by Huobi Global on the Ethereum blockchain on 14 February 2020. It maintains a value equivalent to BTC but also has the flexibility offered by Ethereum. 

Huobi Global has built a solid reputation as a trustworthy digital asset trading platform worldwide, with tens of millions of registered users from over 130 countries. It will not be surprising if this is one of the reasons why investors have the confidence to invest in Huobi BTC as they know that Huobi Global is an established company with an excellent track record.

The purpose behind HBTC is to use BTC as a tool to improve the growth of the DeFi ecosystem. It is an asset-backed token that is strictly pegged to BTC with a 1:1 ratio. 

Following are some of the main features of HBTC:

Hard Pegged to BTC: It is strictly pegged to Bitcoin with a 1:1 ratio. 

Improved Trading Experience: Users can expect transfer confirmation in five minutes, which usually takes one hour in the case of Bitcoin.

Transparency: It is a highly transparent and verifiable asset as users can verify it on both Bitcoin and Ethereum. HBTC assets can be verified online as all the details of asset transfers are published online. 

Liquidity: Bitcoin is the most liquid digital asset in the crypto market with the largest market cap. Because it is strictly pegged to the BTC and is deployed on the Ethereum network. Huobi BTC adds to the liquidity.

Supports Distributed Services: Being the primary platform to support HBTC, it allows for distributed agents exchange services. 

There are two places to exchange Huobi BTC for Bitcoin or vice versa: Huobi Global (HBG) and HBTC's official website.

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