Cryptocurrencies have become an acceptable form of payment. Microsoft, Home Depot, Whole Depot, and Virgin Airlines allow customers to pay with specific coins. This is a good sign for this decentralized currency, which is growing in popularity, despite its controversy and sharp criticism from critics such as Warren Buffet.
With so many cryptos, it’s tough to determine which to purchase for yourself. Well, don’t worry. In this article, we’ll be going through two crypto options to consider.
History
Cryptocurrencies have a fascinating history, particularly Bitcoin, which has been around for over a decade. Follow along as we look at Bitcoin’s origin and its derivative, HTX BTC.
HTX BTC (HBTC)
HTX BTC was created by HTX Global, a leading cryptocurrency exchange in Asia. Along with other Ethereum assets, HTX BTC is backed by a cryptocurrency on a different blockchain. In this case, of course, that is Bitcoin on the Bitcoin blockchain.
It was launched in February 2020.
Bitcoin (BTC)
Bitcoin was created by a developer under the pseudonym of Satoshi Nakamoto. The coin was officially released in 2009 and has been active since. What’s interesting is that while Nakamoto was active up until 2010, there has been no activity from him since.
And while many have claimed to be him, these claims are unverified. Just a few years ago, Craig Wright, a computer scientist, was suspected of being him; however, this is still uncertain. Wired also did a piece on him, citing evidence that he may be this mysterious developer.
What Are They, And Why Were They Created?
The leading cryptocurrencies were made to make decentralized transactions outside the jurisdiction of the central bank and the financial elite. But what about derivatives, such as HTX BTC?
HTX BTC (HBTC)
HTX BTC acts as a bridge between centralized and decentralized finance. The tokens offer users a way of getting access to various decentralized protocols like Uniswap and Curve. They also help grow the Ethereum DeFi ecosystem.
These tokens are low-cost and high-speed.
Bitcoin (BTC)
Bitcoin was made to create a decentralized form of trade, and it was clearly highly successful. As of the time of writing this, it’s the most appreciated and well-known cryptocurrency in the world.
Price History
Cryptocurrencies will always fluctuate, but how badly have these two done so since being released? Let’s dive into the details.
HTX BTC (HBTC)
HTX BTC – price is pegged at the USD price of Bitcoin and therefore is subject to its highs and lows.
Bitcoin (BTC)
The price of Bitcoin fluctuates frequently. At its best, it was closing in on $ 70 000 at the highest price paid. However, after it was first released, it was sold at just $ 0.0009 each. Only in 2010 did it experience a big jump to $ 0.09. And then, a year later, it finally made $1, where it would rise even further to around $ 30 before bottoming at $ 2.
These were very uninspiring times for Bitcoin investors. But in 2013, it would increase again, this time to a much more financially-prospective $ 1 000, settling down at about half of this.
Bitcoin would stall for many years before experiencing yet another bull run (a time when most investors are buying and market confidence is high) in 2017, moving up to $ 19 000 by the end of the year.
The years following this would show a lot of ups and downs, leaving us where we are today; in short, the currency has a very unpredictable price history.
Market Cap
Bitcoin’s current market cap is, of course, very high, considering that it’s the most bought and sold cryptocurrency in the world. But what about HTX BTC? Read on as we get into detail about these crypto coins.
HTX BTC (HBTC)
The coin ranks #211 on the market, with a market cap of $ 769 856 688.
Bitcoin (BTC)
Bitcoin ranks #1 on the market as the most traded cryptocurrency in the world. It currently boasts a market cap of $ 376 895 520 571. To put this in perspective, this is more than double Ethereum at 2nd place and more than ten times XRP at 6th place.
Daily Transactions
How many transactions happen each day for HTX BTC and BTC? That’s what we’re going to look at next. We’re going to consider their trading volume, the transaction fees of these cryptocurrencies, as well as their circulating supply.
HTX BTC (HBTC)
HTX BTC had a 24 hr trading volume of $ 397 136. As a very new cryptocurrency, we anticipate this figure will increase quite a bit with time. The HTX BTC price chart is, of course, fixed to BTC.
The cryptocurrency currently has a circulating supply of 38 969.
Bitcoin (BTC)
Bitcoin boasts an extremely high trading volume; in the last 24 hours, $ 44 336 903 413 worth of this crypto was traded. That’s an extremely high figure, but with over 68 million in the circulating supply, it’s no wonder.
Block Size
Block size is an essential determiner of the speed of transactions when the network is overloaded. That’s why it’s necessary to consider this before purchasing any cryptocurrency.
HTX BTC (HBTC)
HTX BTC’s block size matches that of the Ethereum network, generally around 80 KBs in size.
Bitcoin (BTC)
Bitcoin used to be standardized at 1 MB; however, it has been increased to a 2 MB block size, with the potential for 4 MB. This is still relatively low compared to some crypto, allowing block sizes of 1 GB or more.
This restriction can cause high transaction fees during times of network congestion.
Similarities
Bitcoin and HTX BTC share the same value; HTX BTC is simply a decentralized alternative to BTC.
Differences
HBTC boasts a better trading experience, with confirmation in just 5 minutes, whereas Bitcoin can take an hour. It’s also more liquid than BTC because it’s deployed on the Ethereum network and pegged to Bitcoin’s value.
Bitcoin does not allow trading on the Ethereum network, such as on various decentralized exchanges.
Risks
We all know cryptocurrency is inherently risky, but what about HTX BTC and BTC specifically?
HTX BTC (HBTC)
HTX BTC is subject to the same risks as Bitcoin as its value is pegged to that of Bitcoin.
Bitcoin (BTC)
BTC has always, traditionally, been considered a risky investment. This is because you don’t know how the market will behave from one week to the next. And while there are ways to predict, they’re not entirely accurate.
If you buy Bitcoin, you must either purchase and get out once you’re happy with your increase or patiently wait (possibly for months or longer) for prices to rise again.
Where to Buy
So, where can you buy HTX BTC and Bitcoin? That’s what we’re going to look at next.
HTX BTC (HBTC)
You can purchase HTX BTC on several decentralized exchanges (DEXs). These are cryptocurrency exchanges that work without a central authority. For example, You can buy HTX BTC on the Coinbase Wallet. You could also try an exchange like SushiSwap and Uniswap.
Bitcoin (BTC)
Bitcoin is likely the easiest (but not the most affordable) cryptocurrency to buy. You can purchase cryptocurrency using myriad payment methods, such as face-to-face transfers (although this is much less common), bank transfers with a debit or credit card, or through an app payment such as Google Pay.
You can buy the cryptocurrency on various platforms, such as with the Bitcoin.com wallet, Coinbase, Binance, Luno, SoFi, Gemini, or Paxful.
Exchanging BTC for HBTC
You can sell your BTC for the equivalent amount of HTX BTC, as they are pegged at the same value. You can also exchange HBTC for BTC.
Future Plans
What does the future hold for HTX BTC and Bitcoin? We’ll be looking at this in-depth in the following paragraphs.
HTX BTC (HBTC)
While it’s hard to say what the future holds for HTX BTC, we can talk briefly about its developers, HTX Global. About Capital has bought the company, which is because of Beijing’s crypto ban, which has forced the company to leave its home market. The platform even had to lay off about 30% of its workforce because of the loss of users.
Hopefully, however, the circulating supply will continue to increase, and the coin will grow as Bitcoin has.
Bitcoin (BTC)
Bitcoin has a future that is difficult to predict; however, many experts talk of the great future of Bitcoin, particularly for investors, as it continues to grow in price. Despite dropping to less than a third of its price back at specific points in 2021, many have high expectations for its success.
Some even say owning a single coin will make you a millionaire by 2030. Although only time will tell. More pessimistic projections do still put it at a few hundred thousand dollars.
Sources:
https://www.coinbase.com/price/huobi-btc
https://hitbtc.com/hbtc-to-btc
https://coinmarketcap.com/currencies/huobi-btc/
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