How to buy Bitcoin on Huobi Cryptocurrency exchange?

How to buy Bitcoin on Huobi?

Follow the easy 4 steps below to buy Bitcoin on Huobi.

1. Register a Huobi Global account
   Provide an email address, create a username, and choose a secure password.
2. Verify your account
   After registering and verifying, all you need to do to buy Bitcoin is to provide your name, date of birth, country/region and phone number. For verification information, see the verification documentation.
3. Deposit in fiat currency or cryptocurrency
   To deposit cryptocurrency, you only need to check the encrypted address on Huobi Global and send funds to that address. There are many ways to use fiat currency to fund your account for transactions, including credit cards, cash, and other cryptocurrencies.
4. Start buying Bitcoin on Huobi
   Once your fiat currency or cryptocurrency is in your account, you can start buying Bitcoin. Through your Huobi Global account, you can get trading charts, 24-hour global customer support, and Bitcoin derivatives trading.

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What is Bitcoin?

Bitcoin (BTC for short) is currently the most widely used digital currency. It was born on January 3, 2009. It is a digital encrypted currency for peer-to-peer (P2P) transmission, with a total of 21 million. The Bitcoin network releases a certain amount of coins every 10 minutes, which is expected to reach its limit in 2140. Bitcoin is called “digital gold” by investors. Bitcoin is generated through a large number of calculations based on a specific algorithm. It does not rely on specific currency institutions to issue. It uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors, and uses cryptographic design to ensure currency circulation. The security of the link can ensure that the value of the currency cannot be manipulated through the large-scale production of Bitcoin. The design based on cryptography allows Bitcoin to be transferred, paid and cashed only by the real owner. It also ensures the anonymity of currency ownership and circulation transactions.

Bitcoin is favored by technology enthusiasts due to its decentralization, global circulation, low transaction costs, and anonymous circulation. Recently, traditional financial institutions such as Wall Street and central banks of many countries have begun to study Bitcoin blockchain technology. The Japanese government has officially recognized Bitcoin as a legal payment method, and more and more Japanese merchants have accepted Bitcoin as payment.

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What are the advantages of Bitcoin?

Freedom of payment

Any amount of funds can be paid and received instantly anytime and anywhere. No bank holidays, no borders, and no restrictions imposed. Bitcoin allows its users to fully control their funds.

Very low fees

Currently there are no fees or only a very small fee for the processing of Bitcoin payments. Users can include the handling fee in the transaction to obtain processing priority, and receive the transaction confirmation from the network faster. In addition, there are also merchant processors assisting merchants in processing transactions, converting bitcoins into legal tender every day and depositing funds directly into merchants’ bank accounts. Because these services are based on Bitcoin, they can provide fees that are much lower than those of PayPal or credit card networks.

Reduce risks for merchants

Bitcoin transactions are secure, irrevocable, and do not contain sensitive or personal information of customers. This avoids losses to merchants due to fraud or fraudulent chargebacks, and there is no need to comply with PCI standards. Merchants can also easily expand into new markets where credit cards are unusable or fraud rates are unacceptably high. The end result is lower costs, a larger market, and fewer administrative costs.

Security and control

Bitcoin users are in complete control of their transactions; merchants cannot forcefully charge fees that may occur in other payment methods that should not be or are not easy to find. Paying with Bitcoin eliminates the need to bind personal information in the transaction, which provides great protection against identity theft. Bitcoin users can also protect their funds through backup and encryption.

Transparency and neutrality

All information about Bitcoin’s funding supply itself is stored in the block chain, and anyone can check and use it in real time. No individual or organization can control or manipulate the Bitcoin protocol because it is cryptographically protected. This makes Bitcoin Core believed to be completely neutral, transparent and predictable.

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What are the disadvantages of Bitcoin?

Acceptance

There are still many people who don’t know Bitcoin. Every day, more companies accept Bitcoin because they want to benefit from it, but this list is still small. In order to benefit from network effects, more companies still need to support Bitcoin.

Volatility

The total value of Bitcoin in circulation and the number of companies using Bitcoin are still very small compared to their possible size. Therefore, relatively small events, transactions or business activities can significantly affect its prices. In theory, as the Bitcoin market and technology mature, this volatility will decrease. This world has never seen any emerging currency before, so it is really difficult (and exciting at the same time) to imagine how it will progress.

In the development stage

Bitcoin software is still in the beta version, and many unfinished features are in the active development stage. New tools, features and services are being developed to make Bitcoin safer and more accessible to the general public. Some of these functions are not currently available to every user. Most of the Bitcoin business is new and does not yet provide insurance. Generally speaking, Bitcoin is still in the process of maturity.

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