This time Huobi found a great solution to make trading in cryptocurrencies better, more userfriendly and cost reducing. This week Huobi proudly announced the launch of HUSD. They call it the all-in-one stablecoin solution.
HUSD allows users to withdraw and make deposits in any of the four new stablecoins supported at Huobi´s Exchange. Are you also wondering how this works? I gonna tell you everything about it so keep reading to learn all about the advantages HUSD will offer you as trader of cryptocurrencies.
The need of stablecoins
Before we gonna look to the HUSD stablecoin, first I explain why stablecoins are so important in the current and future cryptocurrency market.
Stablecoins are used as reliable means of payment for trading platforms like Huobi Exchange. In this high volatile market investors use stablecoins to trade cryptocurrencies. In a declining market stablecoins are a good alternative for investors to protect the value of their investments. In difficult times investors directly can convert their investments to dollars by using stablecoins.
Most of the stablecoins are linked to the American Dollar (USD) so every stablecoin you hold in your portfolio has the value of USD 1,-. For many new investors that witnessed the dropdowns of last year stablecoins are offering more trust in trading cryptocurrencies.
One coin to rule them all
As frequent trader I also use stablecoins to buy other cryptocurrencies. There are some cons that I experience when making trades with different stablecoins.
when making a sell and receive USDT as exchange I can only buy coins traded in USDT. If I prefer to buy coins being traded with other stablecoins like PAX or USDC, I can’t make that trade before I performed an extra transaction to switch to another stablecoin. For every transction I have to pay transaction fees that in my opinion stand in the way of free action.
The need of switching between different stablecoins before a trader can execute the desired transaction is unnecessarily complicated, and also not attractive to new investors. Now Huobi found a solution to solve this problems by introducing HUSD, the improved stablecoin that eliminates the use of different stablecoins.
HUSD is the new improved stablecoin that can be used to execute all transactions with stablecoins used on their platform. So no need for holding different stablecoins anymore, and no need to switch between different coins let’s save the users of Huobi’s exchange transaction costs.
Beside there is no need to switch between stablecoins anymore I think there are some more important advantages that are good to know. In my opinion the biggest advantages of HUSD are:
- No need to hold multiple stablecoins anymore
- Cost saving when switching between stablecoins
- Gives the Huobi Exchange a more userfriendly experience than other exchanges
- Helps to get a wider adoption of cryptocurrencies
- One coin can be influenced by whales or by spreading FUD. HUSD is four coins in one, so this coin is much more secure and stable as other stablecoins
Launch Schedule of HUSD
The launch of HUSD will be performed in the following order and timespan:
October 19 (GMT+8) 16h00 PM
The deposit service of PAX, TUSD, USDC and GUSD 2. USDT/HUSD trading pair will be listed at 10:00 AM, October 22 (GMT+8) on Huobi Global
October 22 (GMT+8) 10h00 AM
Transfer service of HUSD between Huobi OTC and Huobi Global will start
October 23 (GMT+8) 10:00 AM
Trading services of HUSD on Huobi OTC will start
Date not specified
- Huobi Global will commence BTC/HUSD and ETH/HUSD trading at another time after evaluating market conditions
- Huobi App will support the trading service of USDT/HUSD, and the deposit and withdrawal services of HUSD will be available in the next App version
- Huobi Global will start the withdrawal services of the stablecoins in one to two weeks. The specific time and date will be notified via a separate announcement
So the coming week will be the launch of HUSD. I noticed that the project teams of GUSD, TUSD and PAX all retweeted the official announcement about the launch of HUSD and seem quite supportive of HUSD. Fact is that people are enthusiastic about this new addition to the current cryptocurrency market.
#HUSD #TheUniversalStablecoin , #HuobiLaunchesHUSD , #HuobiHUSD – My review is in.
I believe Huobi is filling a gap in the current market and by introducing HUSD are really showing their principal of ‘user first’, wich means that Huobi Global spares no effort to promote safe, secure blockchain solutions. I all invite you to join Huobi’s Exchange. In my experience the most complete, userfriendly, safe and cost reducing exchange available.
If interested in opening an account at Huobi feel free to use my referral link in the banner.
Thanxs for reading. Please like and comment!
Disclaimer: The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. For the avoidance of doubt, this article is solely intended to be for general information only and does not in any way constitute as professional advice or financial advice. This is not an invitation or an offer to buy or sell cryptocurrencies, nor is it a recommendation to buy or sell specific types of cryptocurrencies. Trading cryptocurrencies carries a high level of risk that may not be suitable for some. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice.