What Is Huobi BTC (HBTC)? DeFi gateway for Bitcoin

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Bittime  - Huobi BTC (HBTC) is an innovative solution that allows users to access Bitcoin (BTC) on the Ethereum (ETH) network. Launched in February 2020, HBTC opens the gates to a wide range of decentralized finance ( DeFi) applications built on ETH, without having to leave their BTC assets behind.

What Is Huobi BTC (HBTC)?

Huobi BTC (HBTC) is an ERC-20 token pegged 1:1 with BTC. This means every 1 HBTC represents 1 BTC, allowing users to enjoy the benefits of both blockchains:

• Bitcoin security and stability: HBTC is based on the security and reliability of the Bitcoin blockchain.
• Ethereum flexibility and functionality: HBTC can be used in various DeFi applications on the Ethereum network, such as yield farming, staking, and lending.

Huobi BTC (HBTC) Key Products & Features

• Pegging 1:1: HBTC is collateralized 1:1 with BTC through a pegging and burning mechanism.
• Collateral: Users can deposit BTC to Huobi Global to receive HBTC at a 1:1 ratio.
• Burning: Users can burn their HBTC to get BTC back at a 1:1 ratio.
• Liquidity: Huobi BTC (HBTC) has high liquidity on various decentralized exchanges (DEX) on Ethereum.
• Compatibility: HBTC is compatible with various DeFi wallets and applications that support ERC-20 tokens.

What is HBTC Token?

HBTC is an ERC-20 token that represents Bitcoin on the Ethereum network. This allows users to:

• Participate in DeFi: Use HBTC for yield farming, staking, and lending on various DeFi platforms.
• Access to dApps: Use HBTC to interact with various decentralized applications on Ethereum.
• Fast transfers: Send and receive HBTC quickly and easily on the Ethereum network.

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Tokenomic Huobi BTC (HBTC)

• Max Supply: 8,969 HBTC
• Circulating Supply: 8,970  HBTC
• Market Cap : IDR (as of 26 February 2024)
• Distribution :
  • 50%: Guarantee
  • 30%: Huobi Ecosystem
  • 20%: Team and Advisors

Huobi BTC (HBTC) Fundamental Analysis

• Total Value Locked (TVL): $208.244.812 (CoinMarketCap, 26 Februari 2024)
• 24 Hour Trading Volume: $3,096 (CoinMarketCap, February 26, 2024)
• Price: $21,404.39 (CoinMarketCap, February 26, 2024)

Comparison of Huobi BTC (HBTC) & Competitors

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Huobi BTC (HBTC) Founder & Team

Huobi BTC (HBTC) was developed by Huobi Global, one of the largest cryptocurrency exchanges in the world. The Huobi team consists of experienced professionals in the fields of blockchain and finance.

Public Opinion About Huobi BTC (HBTC)

• Cointelegraph: "HBTC is an innovative solution that allows users to access Bitcoin on the Ethereum network."
• CoinMarketCap: "HBTC is one of the most popular BTC-pegged tokens on Ethereum."
• U.Today: "HBTC has played an important role in the growth of DeFi on Ethereum ."

Huobi BTC (HBTC) Conclusion

Huobi BTC (HBTC) is a safe and efficient solution for accessing Bitcoin on the Ethereum network. With advanced features and high liquidity, HBTC allows users to take advantage of the various DeFi opportunities available on Ethereum.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  Complete Guide How to Buy Crypto on Bittime .

Monitor price chart movements  for Bitcoin (BTC) ,  Ethereum (ETH ) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

What is Ethernity (ERN)? A New Way to Explore the World of Authentic NFTs

What is Kin (KIN)? Building an Open and Inclusive Digital Economy

What is Vertex Protocol (VRTX)? Bridge Between Blockchains So Transactions Are Easy

DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.