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Crypto Terms:  Letter H
Jun 19, 2023 |
updated Apr 02, 2024

What is Huobi BTC (HBTC)?

Huobi BTC (HBTC) Meaning:
Huobi BTC (HBTC) - a standard ERC-20 token pegged to Bitcoin (BTC) on a 1:1 ratio.
2 minutes

Let's find out Huobi BTC (HBTC) meaning, definition in crypto, what is Huobi BTC (HBTC), and all other detailed facts.

Huobi BTC (HBTC) is a cryptocurrency that has equivalent value to Bitcoin (BTC) but, in addition, has flexibility that is similar to Ethereum (ETC). It was launched on the Ethereum blockchain on 14 February 2020 by Huobi Global. The goal of HBTC is to use BTC as a means to enhance the DeFi ecosystem’s growth. It’s a standard ERC-20 token pegged to BTC on a 1:1 ratio.

Huobi Global is considered to be a trustworthy digital asset trading platform internationally because it has a large number of registered users from over 130 countries. The fact that Huobi Global is an established company with an exquisite track record could probably be the reason why stakeholders confidently invest in HBTC.

Huobi Global (HBG) and HBTC’s official website are the two places where you can exchange HBTC for Bitcoin or the other way around.

The main features of HBTC include:

  • Hard pegged to BTC
  • Improved trading experience
  • Transparency
  • Liquidity
  • Distributed service support

Talking about the trading experience, users get transfer confirmation in as fast as five minutes, which usually takes an hour with Bitcoin. Moreover, it is highly transparent and can be verified online on both Ethereum and Bitcoin.

In addition, HBTC adds to the liquidity of Bitcoin (the most liquid digital asset) because it is strictly pegged to it and it is deployed on the Ethereum network. Besides that, it supports distributed exchange services since it is the primary platform to support HBTC.