What Is Huobi? How To Use Huobi For Avalanche User

Are you looking to invest in cryptocurrency? Huobi Exchange is one of the leading and latest cryptocurrency platform exchanges. They are committed to providing our users with the best services possible. Their team of experts has designed the most secure, reliable and easy-to-use trading platform on the market today. Join Avaxholic today as we show the easy step on how to create an account on Huobi Global

What Is Huobi?

Huobi Global is a world-leading virtual asset financial services group. Huobi is now one of the largest cryptocurrency exchanges by trade volume. It’s also one of the oldest exchanges – having launched in 2013. Huobi’s holding company, Huobi Global, has teams in Japan, South Korea, United Kingdom, Australia, Canada, Brazil, and Hong Kong.

Huobi has a token, Huobi Token (HT), which it issued in January 2018. It is listed on Coin Market Cap as one of the top 100 currencies by market cap. The Huobi Token is fuel for the Huobi system. A key way people use it to reduce fees when trading on the Huobi platform. Huobi also rewards holders of the Huobi Token with guide to mining., which means they will occasionally give away free tokens to people who are loyal keepers of HT. Additionally, people with Huobi Tokens can have voting rights – like choosing the next token that should be added to the exchange.

How Does Huobi Work?

Huobi functions similarly to other cryptocurrency exchanges. People can buy and sell cryptocurrencies, and the platform makes money by charging a transaction fee.

A more recent move is the exchange’s focus on stablecoins backed by the US Dollar. These are coins that are pegged at the value of the US Dollar, which makes them less susceptible to volatility in the market. When someone deposits one of four stablecoins (Paxos Standard, True USD, US Dollar Coin and Gemini dollars), it will be automatically transferred into Huobi’s HUSD. Then when the person withdraws the currency, they can pick from any of those four in a 1:1 ratio. So you deposit one Gemini dollar, which gets automatically converted to one HUSD. Then when you withdraw it, you could take out one USD Coin. Huobi says the HUSD will eliminate the need to choose between stablecoins, and save on conversion costs.

What Are Huobi Features?

Here are Huobi main features:

  • Trading pairs
  • Customer service
  • User Protection Fund
  • Institutional trading accounts
  • Derivatives trading
  • Margin trading

Why Should You Use Huobi?

Huobi focuses on customer security and safety and a reliable and secure platform, wherefore it adapted special security procedures. It uses offline cold storage, multi-layer verification processes and collaboration with Goldman Sachs and industry specialists.

The trading platform is simple and straightforward and offers leverage trading. For the main trading platform, Huobi offers two complimentary ones; HADAX and OTC. While HADAX (Huobi Autonomous Digital Asset Exchange) is more for professional traders, the OTC section focuses on certified merchants that want rather anonymously to move large quantities of cryptocurrency.

How To Create An Account On Huobi

Step 1: Click the “Sign Up” button in the top right-hand side of the website or click the link below https://www.hbg.com/register/

Step 2: You can choose to register for a Huobi account using your mobile phone or email address. For this example, I pick signing up for phone

Step 3: Fill in the fields as below

  • Please choose Nationality correctly as it cannot be revised after registration
  • Password must be 8-20 characters with at least 1 letter. It cannot be only numbers.
  • Optional – Key in any referral/invitation code that may have been given to you by your referrer

How To Buy USDT On Huobi?

Buy USDT From P2P

You can follow the step below, watch a short tutorial here:

Step 1: From homescreen, click “Buy Crypto”

Step 2: You can choose 2 options to buy USDT in the top left corner of the interface:

  • Buy Through Quick Trade: Input the amount or quantity of USDT you want to buy. Choose payment method then buy
  • Buy through advertiser: Select an advertiser then set up transaction information.

Now you have USDT available in Fiat Account. To transfer USDT to Exchange Account so you can do transactions on Huobi Global, continue to the next step

Step 3: After you have bought USDT, go to “Balances” and click “Exchange Account“. Then Select “Transfer”

Then select token to USDT (you can set Fiat Account to Exchange Account by click on 2-arrow icon). Input the amount you want to transfer. Then click “Transfer

Now you are ready to do tradings.

How To Get AVAX Token On Huobi?

What Is AVAX Token?

Avalanche (AVAX) is a platform that enables the launch of decentralized finance (DeFi) applications, financial assets, transactions, and other services. Everything on Avalanche is a subnet, and every chain is part of a subnet.

All fees on Avalanche are paid in the native token of Avalanche, AVAX, so you’ll need some in order to interact with the Avalanche network. You can get it through exchanges.

Avalanche features 3 built-in blockchains:

  • Exchange Chain (X-Chain): Where AVAX tokens can be traded
  • Platform Chain (P-Chain): Where AVAX tokens can be provided as a stake when validating the Primary Network
  • Contract Chain (C-Chain): Where AVAX tokens can be used in smart contracts or pay for gas

Read more:

+ What is Avalanche (AVAX)? Everything you should know before investing in AVAX token

+ What’s interesting about Avalanche ecosystem? Do you know yet?

+ What is Avalanche Hub? How to earn passive income there

+ What is Avalanche Wallet? Instructions on how to install the Avalanche Wallet

+ How to create NFT on Avalanche Wallet from A to Z

How To Get AVAX On Huobi?

Step 1: From homescreen, Click “Spot Trading” in the top of the interface, then select Exchange

Step 2: Select USDT for searching. Then search for AVAX/USDT like below

Step 3: You can buy or sell by selecting the amount, or drag the slider (0%, 25%, 50%, 75%, 100% amount of USDT available). To get AVAX, you click Buy.

When the order is completed, you will receive AVAX token.

How To Transfer Avax Token from Huobi Global To Binance Exchange

Step 1: From your homescreen, Click on “Balances”, select Assets Overview.

Then choose Withdraw from the Balance with AVAX, which would be Exchange balance after trading

huobi

Step 2: Select for AVAX token, choose the corresponding Chain (Make sure X-Chain to X-Chain, C-Chain to C-Chain). In this case, the AVAX on Huobi only has AVAX Chain, which is X-Chain.

Then input your Binance address. For this example, I will input my Binance address. The AVAX on Binance I am using is Avalanche Network, which belongs to “AVAX X-Chain“.

Read more:

+ What is Binance? How to create an account on Binance?

  • On Binance
  • On Huobi

Paste your AVAX-Avalanche X-Chain address from Binance

Input the withdraw amount then click “Continue”

Note: Remember to have extra AVAX as gas fee for the transaction to complete, in this case its 0.008 AVAX. And remember to send AVAX token in the correct chain between your wallet.

How To Transfer Avax Token From Huobi Global To Coin98 Wallet

Coin98 Wallet: A multi-chain wallet allows users to store, transfer and manage crypto assets on multiple blockchains. It supports more than 20 networks, including Ethereum, Binance Smart Chain, Solana, Polygon, Avalanche, Terra, etc., on both Mobile (iOS and android) and Chrome Extension versions.

To transfer AVAX from Huobi Global, you need to have Coin98 Wallet. You can download Coin98 here

Coin98 Mobile Wallet:

Coin98 Extension Wallet: extension.coin98.app

Coin98 Web Wallet: wallet.coin98.com

Read more:

Step 1:

  • To create a wallet on Coin98, read here
  • To get address of your AVAX wallet from Coin98. Login to your Coin98 account. Then select AVAX X-Chain or AVAX C-Chain wallet, as for this example, the AVAX I chose to transfer to Huobi belongs to X-Chain

Step 2: Select for AVAX token, choose the corresponding Chain (Make sure X-Chain to X-Chain, C-Chain to C-Chain). In this case, the AVAX on Huobi only has AVAX Chain, which is X-Chain.

Then input your Coin98 address copied earlier.

Step 3: Select the amount, then click Transfer.

Note: Remember to save have some AVAX as fee for the transaction.

Thus you have transferred AVAX from Huobi to Coin98

How To Transfer Avax Token From Huobi Global To Metamask Wallet

MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications.

Before we begin, you need to have Avalanche wallet connected to Avalanche Network in Metamask.

To connect Avalanche network to Metamask and transfer AVAX C-Chain to X-Chain, read more:

After you have connected Avalanche network to Metamask, you can begin.

Step 1: To deposit your AVAX from Metamask to an Exchange, you first need to have an Avalanche Web wallet.

To create a new account for Avalanche Wallet, read more:

You will then have access to transfer C-Chain and X-chain on Avalanche wallet.

Alternatively, to connect Metamask to Avalanche wallet. You need to access the account used in Metamask on Avalanche Wallet, by logging into the wallet with Metamask private key (or a Ledger device if you use one in Metamask).

To get the private key, in Metamask press three dots next to the account title and in the menu select account details

This image has an empty alt attribute; its file name is Screenshot-2021-06-04-at-15.35.24.png

Step 2: On the details screen press ‘Export private key’. Use that key to log into the Avalanche web wallet by selecting private key as a login option.

Note: Be very careful with that key and store it in a private and secure place, as that key is used to access your funds!

Then copy your private key.

Thus, you have access your metamask account on Avalanche Wallet.

Step 3: Click on 2-square icon to copy your AVAX X-Chain wallet address. Then paste it to Huobi to withdraw from it, like getting AVAX from Huobi to Coin98.

Step 4: After you withdraw AVAX from Huobi, you can cross-chain. Tap on Cross-chain in Avalanche wallet, input the amount you want to swap from AVAX X-Chain to AVAX C-Chain.

Note: Remember to save some AVAX for transaction fee

Conclusion

Huobi is an innovative cryptocurrency exchange that makes it easy to buy, sell, or trade cryptocurrencies. Huobi offers advanced financial services as well as excellent primers for anyone new to crypto. It boasts an impressive list of services that include flexible borrowing and ways to earn interest on staked tokens. Hopefully, the information that Avaxholic has gathered in the article will be useful to you.

Join the Avaxholic chat group now to discuss the hot topics about the DeFi market with the Avaxholic admin team!!!

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