You may already be aware of the long-running cryptocurrency exchange, Huobi. But if you’re looking for a simple way to stake your crypto and earn some passive income then it’s worth taking a look at their Huobi Earn program.
In this Huobi Earn Review, we’ll take a look at how to use the platform, what cryptocurrencies you can stake and how to get the best rates.
Who are Huobi Global?
Huobi Global are a cryptocurrency exchange, and they are also one of the leading global virtual assets financial services. They started to enter the blockchain industry in 2013 to make the financial sector more efficient and to make wealth more accessible to everyone.
Huobi has a whole host of trading options with spot and margin trading, derivates, and futures. They also have loan options and other ways to earn with your cryptocurrencies. Plus they also have their own Huobi wallet available for managing your crypto assets.
What is Huobi Earn?
Huobi Earn is an investment product which means that Instead of just holding your assets in a wallet your crypto holdings you can deposit these into flexible or fixed terms products that will generate a yield on your crypto assets.
How to Get Started with Huobi Earn?
To get started you’ll need to have an Huobi account. If you don’t already have an account, use this link to get 20% off your trading fees. Plus they also have a 170 USDT welcome bonus available.
Plus to use their Earn feature you’ll need to have completed registration and ID verification.
From the main Huobi site you’ll head across to login to Huobi Glocal and under the Finance tab at the top of the screen, choose Huobi Earn. Alternatively, this is also available from your Huobi mobile app too, where you’ll simply tap Huobi Earn from the middle section of the app.
What Cryptocurrencies Can I Deposit?
With Huobi Earn you can deposit the likes of RAD, PUSH, RLY, SUSHI, IOTA, BTC, USDT, ETH, THETA, NEO, ETC, VET, LINK, DOT, SHIB, DOGE, MATIC and many more.
They also offer featured and first-timer products for special or limited supplies where you could earn up to 100% APY.
What are Flexible Terms?
Flexible Earnings allows you to earn daily-APY without having any lock-up periods, which gives users more flexibility with your crypto. With Flexible terms, the risk is lower because obviously, you can withdraw your tokens at any time.
Because of this, you won’t find the APYs as high as the likes of fixed earnings. Which essentially means locking up your crypto for a fixed period of time. There’s also an option to “auto-transfer” and this is where any amounts that are held in your exchange account can be automatically transferred into the earnings account every day at 6pm
What are Fixed Term Offers?
Fixed Term offers allow you to lock up your tokens for specific periods of time. With the fixed term, the risk is higher because you are unable to withdraw your tokens until the period has ended and therefore the rewards or APYs are higher.
At the end of the period, your deposited amount and the interest you’ve earned will be automatically redeemed and transferred to your Exchange account.
What are Featured/First Timer Offers?
There are feature and first-timer offers too which are limited supplied therefore you can see how subscribed each offer is, plus you’ll see when each event starts and ends.
If you see a really good offer and you don’t already have the tokens, you can jump in quickly by trading for these using the Huobi exchange.
How to Redeem Your Profits?
To redeem and take profit, go to “Balances”, choose the asset you would like to redeem and then just enter the amount you’d like to redeem.
You’ll then need to accept that you have read and agreed to the Huobi Earn Policy to complete the redemption. Just be aware that between 4 pm and 5 pm UTC every day, you will not be able to redeem due to maintenance.
Cryptocurrency exchanges are renowned for being bad at support. However, with Huobi you can also contact their Twitter and Telegram accounts, where you can get professional support in the community. Just make sure that you are always talking to trusted sources.