People get into crypto for myriad reasons, but the most common denominator is making money. One of the most toughest and also easiest way to make money in crypto is through trading. Here are some Huobi trading hacks to lower transaction fees and earn.
First thing a pro trader worries about is deciding the right time to buy and sell. If one gets that wrong, then it is sure to lead to loss. The second thing a pro trader worries about is cryptocurrency exchange trading fees. As you’ve rightly guessed, traders flock to exchanges with minimal trading fees. This is one of those few cases where, the lower, the better.
Now, to the aim of this article, let’s look at loopholes to save and earn through transaction fees when trading on Huobi Pro. Some myths have been recently circulating that Huobi transaction fees are higher compared to other exchanges. In reality however, with these loopholes about to be discussed, Huobi transaction fees are far lower than competitors. Today’s focus will be on one loophole which can be found in Huobi Super Rebate.
Huobi Super Rebate
At the moment, Huobi Points Card can be purchased from an unofficial Over The Counter (OTC) market. This came to be because when Huobi Token (HT) was launched, they were initially given out for free to buyers of Huobi Points Card packages. OTC market can be found on telegram in Chinese and recently formed English telegram groups.
Of course, several saw this as a smart business opportunity and made huge volume purchases of Points packages, just for the free HT. These free HT are now being sold at high discounts of up to 75%, depending on the seller. Free HT gotten through Points package can be transacted on Huobi Pro, to the tune of any amount. Charge for such transactions is just 0.2% in trading fees.
Super Rebate via Third-parties Transfers
Another Huobi Super Rebate loophole found in the combination of VIP package, plus Points packages. These combination can help users reduce their trading fees. Although, to benefit from this loophole, VIP users will need a minimum trading volume to breakeven, moreover, cost of VIP package has to be considered.
How it works is by users signing up new referral accounts under their main accounts. Trades made on the referral accounts entitle user to earn rebates. For instance, a high volume trader could purchase a VIP2 package, that is $3,240 for 1200 HT at $2.70 per HT. Considering HT has near tripled since launch, a trader would’ve saved more if HT was hoarded when still just $1.20 per HT.
A trade of USDT5,000 will attract the normal transaction fees of USDT10 or 0.2%. However, if transaction was done via VIP30 package, then transaction fees would be USDT8 i.e. 8 points. More interesting is if Points were purchased via OTC market, then transaction fees would be USDT8 x 0.25 = USDT2 or 0.04%! That’s not all, adding Super Rebate to the whole mix, further reduces transaction fees to USDT1.4 or 0.028%!!!
Even without a VIP2 package, users trading on referral accounts can still reduce their trading fees through Points packages and Super Rebate. For instance, for a USDT5000 transaction, normal transaction fees is USDT10 or 0.2%. Where Points were purchased via OTC market, transaction fees would be USDT10 x 0.25 or 0.05%! When Super Rebate is added to the mix, transaction fees would get as low as USDT1.75 or 0.035%!
So, if you’re a new trader, wondering what exchange to make home, you certainly want to try out Huobi Pro. Above loopholes get you unbeatable low transaction fees not found elsewhere.