The Hotbit cryptocurrency exchange offers spot and ETF trading without leverage and offers trading on Ethereum, Litecoin, Ripple, and several others. It is one of the most popular cryptocurrency exchanges that has recently listed many web3-related cryptocurrencies on its platform, providing an opportunity for cryptocurrency investors to get in on the act. There are more than 1,900 cryptocurrencies listed on the exchange.
What are Web3 cryptocurrencies?
Before we discuss what Hotbit.io has to offer, let us first talk about Web3 cryptocurrencies. Web3 is an evolving technology that is considered the third generation of the evolution of web technologies. Web3 cryptocurrencies are a new wave of cryptocurrencies that aim to realize the decentralized vision of Web3. They work by combining blockchain technology with smart contracts to give people control over their data and the ability to make transactions without relying on any third-party intermediary.
A Web3 cryptocurrency may provide different services formerly offered by cloud providers. These include bandwidth, storage, computation, identification, and hosting services. With their popularity rising, developers have been working on both cryptocurrencies and Web3 to make them more secure, scalable, and efficient. Both technologies share the core principles of decentralization and equal access.
Examples of some Web3 cryptocurrencies listed on Hotbit.io
Hotbit.io is at the forefront of every new trend that emerges in the cryptocurrency world, as they are known for listing some of the freshest cryptocurrency projects on their platform. This doesn’t exclude Web3 cryptocurrencies, a number of which have been listed on the exchange.
The Theta network is a dispersed network intended for video streaming. It allows users to share bandwidth and computing power on a P2P basis. At Hotbit, Theta has two markets listed: THETA/BTC and THETA/USDT.
Filecoin is a decentralized storage network that allows users to rent out their extra hard drive space and get Filecoin tokens for it. It is best described as the Web3 version of Google Drive and Amazon Web Services. At Hotbit, Filecoin has one market listed: FIL/USDT
Chainlink is known as a blockchain middleware project that facilitates smart contracts to access vital off-chain resources such as traditional bank payments, web APIs, and data feeds. At Hotbit.io, Chainlink is available in three markets: LINK/BTC, LINK/ETH, and LINK/USDT.
Interested traders can follow Hotbit’s official Twitter page at https://twitter.com/hotbit_news to be up to date with every web3 cryptocurrency or another type of token that gets listed.
A little about Hotbit
Hotbit.io was launched back in 2018 and has carved a reputation for itself as being an easy-to-use, widely trusted cryptocurrency trading platform. Some of the highlights of this platform include fast transactions; high liquidity; multi-lingual support; a robust KYC verification system; and state-of-the-art security. It provides its users with a platform from which they can directly trade, manage, track, and analyze cryptocurrencies, making the entire experience easier for ordinary people.
The Hotbit stands out from the crowd thanks to an amazing collection of salient features. These include multi-lingual customer support; charting features; trading pairs; trading fees; deposit methods; and security. Hotbit.io has also partnered with the likes of Spark Pool, F2pool, Mytoken, HashQuark, and Slow Mist. It has amassed more than 7 million active users from more than 210 countries.
What does Hotbit.io offer?
Hotbit offers six investment solutions, which are described in brief below;
Hotbit provides a lending solution for Filecoin where the daily APR is up to 30% for a validity period of 180 days. This product is available owing to Hotbit’s collaboration with a leading manufacturer of Filecoin mining machines. But investors are warned about the unpredictable price changes occurring in the market.
A total of 287 different DeFi products are available under the Hotbit DeFi deposit investment product. Funds raised from this product are meant to be invested in DeFi projects by the Hotbit Asset Management Department, but investors should consider some technical risks that are applicable to such products.
Hotbit offers more than 200 PoS investment products to choose from that have a permanent validity period. The most profitable one out of the 200 products provides 10% APY, while the expected income of the product is about 15.61% based on actual daily status.
Hotbit’s asset management division offers 20 different quantitative investment products.In this hedging fund that is centered around cross-exchange hedging arbitrage, income is generated by monitoring periodic token price fluctuations.
A total of 14 different incentive plans are available as investment products under Hotbit. But incentive plans mean that investors have to make sure that they avoid drastically declining prices in USD. This investment is fixed for a term of 90 days without redemption.
The daily APR for the most profitable rebased investment product offered by Hotbit is up to 75%, which comes with a permanent validity period.
Conclusion
Hotbit is an easy-to-sign-up cryptocurrency exchange with no minimum deposit requirements. It doesn’t require users to deposit a specific amount of funds into their account to start trading. It does not require leverage for swaps or ETFs. It also has a sophisticated customer support system that is very responsive and can answer queries almost at any time. Hotbit is thus the ideal exchange to start investing in Web3 cryptocurrencies.
Hotbit Website: https://www.hotbit.io
Hotbit Twitter: https://twitter.com/Hotbit_news
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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