Huobi (HT)

Trading and Fee Discounts

Huobi Token (HT) is used to reduce trading fees on the Huobi exchange. Users holding HT get discounts on trading costs and can enjoy VIP membership benefits.

Governance and Community

HT holders can vote on governance proposals, influencing key decisions and the development of the Huobi ecosystem.

Participation in Token Sales and Events

HT allows users to participate in token sales and special events like Huobi Bitcoin Pizza Day, where holders receive rewards.

Collateral and Financial Services

HT can be used as collateral for crypto loans, providing users with financial flexibility.

Ecosystem and Market Access

Huobi supports a wide range of cryptocurrencies and trading options including spot trading, futures, margin trading, staking, lending, and DeFi products. The platform also offers NFT markets and blockchain research.

Yield and Staking

Users can stake cryptocurrencies on Huobi to earn yields, including ETH 2.0 staking to receive BETH tokens.

Payment and Trading Utility

HT can be traded with other cryptocurrencies and used for payments within the Huobi ecosystem, making it a versatile asset for users.

Features and Services

Huobi offers a wide range of services including spot trading, futures trading with up to 200x leverage, margin trading, staking, crypto loans, yield products, and OTC trading. It supports over 700 cryptocurrencies and more than 800 trading pairs. The platform also provides trading bots and a mobile app for trading on the go. Huobi has its own native token, HTX, which is used within its ecosystem.

Security

Huobi has strong security measures such as 98% cold storage, two-factor authentication (2FA), and a Security Reserve Mechanism holding 20,000 BTC to protect users. It has never been hacked and uses a decentralized exchange structure to reduce DDoS attacks.

User Experience

The platform is comprehensive and caters well to advanced traders with many features and trading options. However, its complex interface may be overwhelming for beginners. The mobile app adds convenience for trading anywhere.

Availability and Regulation

Huobi operates globally in over 130 countries but is not available in the US. It is unregulated, which some users may see as a downside, while others appreciate the freedom it offers.

Fees and Trading Volume

Huobi has a competitive fee structure and offers discounts when using its native token. Its trading volume is solid but relatively lower compared to some competitors like Kraken.

Customer Support

Customer support has mixed reviews; some users report slow or unsatisfactory responses, while others find it reliable. There is a 24/7 live chat and a community forum for assistance.

Pros

• Wide range of cryptocurrencies and trading options
• Strong security features
• Advanced trading tools and high leverage
• Mobile app for flexible trading
• Competitive fees with token discounts
• Large global user base

Cons

• Not available in the US
• Complex platform for beginners
• Mixed customer support experiences
• Unregulated exchange status

Founders of Huobi

• Leon Li (Li Lin): The main founder and former CEO of Huobi. He established Huobi in 2013 in China and grew it into one of the world’s leading cryptocurrency exchanges. Leon Li has a background as a computer engineer at Oracle and holds a Master’s degree from Tsinghua University. He is also known for his leadership in the crypto space beyond Huobi, including launching a $1 billion Ether trust.

• Du Jun (Jun Du): Co-founder of Huobi alongside Leon Li. He is currently noted as a key executive in the company.

These two are recognized as the primary founders behind Huobi, which later rebranded as HTX after changes in ownership and business structure.

Investors in Huobi

Huobi has received investments from several notable investors and investment groups:

• Early Angel Investors: Dai Zhikang and Zhen Fund provided angel investments in 2013.
• Venture Capital Firms: Hongshan Capital Group, Node Capital, and ZhenFund are among the investors.
• Corporate and Individual Investors: About Capital Management, Pantronics Holdings, Xiao Ping Xu, Dai Zhikang, and others have invested in Huobi.
• Founder-led Consortium: Huobi founder Li Lin is leading a consortium of prominent Asian investors, including Shen Bo (co-founder of Fenbushi Capital), Xiao Feng (CEO of HashKey Group), and Cai Wensheng (founder of Meitu), to launch a $1 billion Ethereum trust.

Investment Arms and Subsidiaries

• Huobi Capital: The investment arm of Huobi, focusing on blockchain technology, digital currency, and crypto assets.
• Huobi Ventures: A wholly-owned subsidiary that grows Huobi’s venture investment portfolio and supports blockchain projects through long-term strategies.

These investors and investment arms help Huobi expand its blockchain ecosystem and support various projects in the crypto industry.

Halal Status of Huobi

• Yes, Huobi is considered halal by some because it aligns with regulatory compliance and security standards that can support Sharia principles, as seen in its association with Islamic Coin (ISLM), which adheres to Sharia law.
• However, there is no unanimous agreement; some Islamic scholars and councils have declared cryptocurrencies haram due to elements like uncertainty and speculation.
• Huobi Pool Token (HPT), used within Huobi's proof-of-stake mining pool, operates on legitimate mining and staking models, which may be viewed as halal.
• Ultimately, the halal status depends on individual interpretation and the specific crypto asset or service used on Huobi.