Huobi BTC

Bridges

Copy link
Share on X

Claim company
Report company

Description

Huobi BTC (HBTC), introduced by Huobi Global in 2020, is a token available on the Ethereum platform designed to bridge Bitcoin's liquidity with the decentralized finance (DeFi) space. It maintains a strict 1:1 peg with BTC, ensuring that each HBTC is fully backed by an equivalent amount of Bitcoin, enabling seamless exchanges between HBTC and BTC. This token enhances the DeFi ecosystem by incorporating Bitcoin's robustness and liquidity into it, leveraging Ethereum's blockchain for operational efficiency and transparency. HBTC's current supply is 969.48700474 HBTC, actively traded on 39 markets. More information can be found at [hbtc.finance](https://www.hbtc.finance/en-us/).

Socials

Similar companies

HBTC Chain

HBTC Chain is a decentralized blockchain focusing on bridging traditional and decentralized finance using a dual-chain architecture for high performance, security, and cross-chain interoperability, supporting DeFi applications, dApps, and smart contra...

H-Tokens

H-Tokens.Finance is a DeFi platform on HECO offering wrapped crypto tokens, like hBTC, for DeFi activities, enhancing asset interoperability and liquidity in the ecosystem.

tBTC

tBTC bridges Bitcoin to Ethereum for DeFi use, backed 1:1 by BTC and secured by Keep Network. It offers a trustless way to earn on Bitcoin in DeFi, ensuring security and transparency.

BTC on Ethereum

BTC on Ethereum bridges BTC with DeFi on Ethereum, enabling Bitcoin's use in lending, borrowing, and yield farming via tokenization (e.g., WBTC, RenBTC). It strengthens cross-chain utility and liquidity.

Huobi Labs

Huobi Labs, a leading blockchain research division by the Huobi Group, focuses on incubating, investing in, and researching blockchain projects to drive innovation and foster sustainable ecosystems.

B2B Token

B2B Token offers a secure and transparent DeFi solution for Bitcoin, utilizing the BTCB token and Binance's proof of reserve.

BXH.com

BXH.com is a DeFi platform offering a DEX, staking, yield farming, and liquidity mining with a focus on security, ease of use, and integrating multiple blockchains.

Wrapped Bitcoin

Do More with your Bitcoin by leveraging Wrapped Bitcoin’s Ethereum integration and high liquidity.

Shibabitcoin [OLD]

SHIBA BITCOIN utilizes the ERC-20 standard on Ethereum for DeFi utilities like staking and yield farming, ensuring high-speed transactions and user-controlled assets.

pTokens BTC [OLD]

OLD

Bitcoin USD (BTCFi)

BtcUSD by BTCFi is a decentralized stablecoin platform that lets users deposit Bitcoin as collateral, providing a stable, yield-generating asset for DeFi applications.

HitBTC

HitBTC is a leading cryptocurrency exchange launched in 2013, offering over 800 trading pairs with a focus on security, high liquidity, competitive fees, and robust API for institutional and algorithmic trading.

FAQ

What is Huobi BTC (HBTC) and how does it work?

Huobi BTC (HBTC) is a token deployed on the Ethereum network by Huobi Global, designed to enhance the DeFi ecosystem by integrating Bitcoin liquidity. It maintains a strict 1:1 peg with Bitcoin, meaning each HBTC is fully backed by an equal amount of BTC. This allows users to exchange HBTC for BTC at a 1:1 ratio, providing a seamless value transfer between centralized and decentralized systems. By leveraging Ethereum's blockchain, HBTC offers a secure and efficient way to integrate Bitcoin into the DeFi space.

What are the benefits of using HBTC in the decentralized finance (DeFi) sector?

Using HBTC in DeFi offers numerous benefits, including increased liquidity, security, and transparency. As a tokenized version of Bitcoin on Ethereum, HBTC allows users to participate in DeFi protocols while leveraging Bitcoin's robustness. The 1:1 peg ensures a reliable and stable value, facilitating easy integration into various DeFi applications. Furthermore, HBTC's deployment on Ethereum supports efficient transactions and smart contract operations, enhancing user experience and broadening Bitcoin's utility in the DeFi ecosystem.

How does HBTC compare to other wrapped Bitcoin tokens?

HBTC stands out due to its strict 1:1 backing with Bitcoin and its deployment by a major exchange, Huobi Global. Like other wrapped Bitcoin tokens, HBTC enhances Bitcoin's functionality within the Ethereum ecosystem. However, HBTC's direct association with Huobi can provide users with added confidence in its liquidity and security. This makes it a compelling choice for users seeking to bridge the centralized and decentralized financial ecosystems, particularly those already engaged with Huobi's trading platform.

How can I exchange HBTC for BTC?

HBTC can be exchanged for BTC at a 1:1 ratio due to its asset-backed design. Users looking to convert HBTC to BTC can do so seamlessly through Huobi Global's platform or other supported exchanges. This flexibility facilitates movement between Ethereum's decentralized finance platforms and traditional Bitcoin holdings, enabling users to manage their digital assets effectively and capitalize on various financial strategies within and outside the DeFi sector.

What role does Ethereum play in the functionality of HBTC?

Ethereum plays a critical role in HBTC's functionality by providing a secure and efficient blockchain environment required for its operation. As an ERC-20 token, HBTC leverages Ethereum's smart contracts to ensure the token's liquidity and security while adhering to its 1:1 peg with Bitcoin. This connection allows HBTC to participate in Ethereum-based DeFi protocols, effectively integrating Bitcoin's value into decentralized applications while maintaining transparency and immutability.

What should I do if I encounter issues with HBTC transactions?

If you encounter issues with HBTC transactions, it is advised to first check if your wallet or exchange supports ERC-20 tokens. Ensure that you have sufficient Ethereum to cover gas fees on the Ethereum network. If issues persist, reach out to the support team of the wallet or exchange you're using, and consult the documentation available on the official HBTC website for troubleshooting guidance. Staying informed about network congestion and transaction times can also help preemptively address potential issues.

FAQ

Company is unclaimed. Do you work for or own this company?

Description

Socials

Tags