Huobi Facilitates Buying Cryptocurrencies with New App

Huobi Launches App to Facilitate Buying Cryptocurrencies

Huobi Group has announced launching mobile app Huobi Lite, which allows buying and selling cryptocurrencies easily.

The company re-tweeted crypto & MMA enthusiast Sal Miah tweet:

“Buying Bitcoin Just Got Tremendously Simple with the Introduction of Huobi Lite!”

Ciara Sun, VP of Global Business, said:

“Huobi Lite gives users a simpler way to trade crypto without sacrificing the trust, performance, and security they’ve come to expect from other Huobi products.”

“The current process of buying and selling cryptocurrencies can be unnecessarily complex for the average person, so we’re distilling the experience down to a few easy steps. By reducing the barrier to entry and catering to both beginners and veteran traders, we’re vying for mainstream adoption across the globe, especially in underserved markets like Southeast Asia.”

Huobi ranks 1st with USDT deposits

Huobi Global took the first rank with the largest deposits of Tether (USDT), accounting for $1.5 billion, according to @CryptoDiffer twitter. Meanwhile, Binance came second, followed by OKEx.

Huobi loses position in average deposit

As regards average deposit, Binance took the leadership with an average deposit of $26.8 thousand USD by each user. It was followed by OKEx ($21.2 thousand USD).

As for the number of active users, Huobi recorded 284,494, followed by Binance (88,588 users). The third position was taken by OKEx with 40,413 users, followed by Bitfinex (12,435).

Trend identification crucial

Everyone in the crypto community relies on the general trend of cryptocurrencies, whether that of Huobi Token (HT) or otherwise.

There are several ways to identify the trend and each cryptocurrency has a certain way to identify this trend. Although not all trend lines are accurate, the accurate one should be able to provide some guidance about progression of the transaction. Any valid line should have three touches.

Whatever the token traders invest in, whether Huobi Token or other altcoins, stop loss is important.

At the time of writing, Huobi Token (HT) fell 1.17 percent to $3.200. It ranks 19th with a market cap of $746.64 million.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.