Cryptocurrency exchange trading fees can be a dreaded issue for experienced and new traders alike. This is because transaction fees can eat into your profits and prevent you from maximising your gains. But what if there was a way to bypass them or a loophole that allowed you to not only save on exchange trading fees but also earn in the process.
On Huobi Pro, several loopholes such as Huobi Points been discovered that let you lower trading fees, making Huobi transaction fees far lower as compared to other exchanges.
Let’s take a close look at some of these loopholes:
Super Rebates - Earn Through Referrals
Huobi has recently launched a brand new referral program that allows you to earn attractive rebate when your friends and family sign up and trade on Huobi Pro. This program lets you earn as much as 30% of your friends’ trading fees for 3 months. Simply invite your friends to register as a Huobi Pro user using your personal invitation code or link.
You can find your personal invitation code by visiting https://www.huobi.pro/invite/ and logging into your account. You can also click on My Invitation code in the dashboard dropdown menu after you log in.
Huobi Point Card:
It is a little known fact that there is currently an unofficial OTC market for the Huobi Points Card. This is because when HT was first being distributed to users free of cost, some buyers bought huge amounts of point packages to receive free HT points.
These same buyers are now selling HT points at up to 75% off! There are no restrictions on the transaction limits of these points and all points can be transferred via Huobi.
These points can cut down trading fees drastically as they can be substituted for trading fees.
Normal users get are charged 0.2%.
You can buy the Huobi Point Card here: https://www.huobi.pro/ht/points/
Now let’s get to the Loopholes -
Super Rebate Loophole: Earn By Referring Yourself
On Huobi, users can use a combination of VIP + point packages to lower their trading fee.
Aslo, users needn’t refer just their friends or family, they can refer themselves too! By signing up a new account under their main account and using the new account to trade, users can earn back their own trading fees in the form of rebates. Think of it as a trading hack that can only be done on Huobi Pro, because other exchanges don’t allow you to refer yourself.
For example:
Users with high trade can purchase VIP2 package (600HT @ USDT 2.7 = USDT 3,240/mth)
VIP2 offers users a 20% discount, while VIP3 offers 30% discount.
https://huobiglobal.zendesk.com/hc/en-us/articles/360000190611-VIP-Discount-Example
For a trade of USDT 5,000:
Normal transaction fee is USDT10 or 0.2%
VIP2 transaction fee is USDT 8 i.e. 8 points
If Points are purchased on OTC market -> actual cost for this transaction is USDT8 x 0.25 = USDT 2 or 0.04%!
Addition of Super Rebate -> net cost of USDT 1.4 or 0.028%
*Note: VIP users will need a minimum trading volume to breakeven as they need to factor cost of VIP package.
Another version of this loophole using a combination of Point Packages, Super Rebates and Third Party transfers:
For a trade of USDT 5,000:
Normal transaction fee is USDT 10 or 0.2%
VIP2 transaction fee is USDT 8 i.e. 8 points
If Points are purchased on OTC market -> actual cost for this transaction is USDT 10 x 0.25 or 0.05%!
Addition of Super Rebate -> net cost of USDT 1.75 or 0.035%!
To conclude, it is important to find new ways to save and earn on your cryptocurrency trading journey. Some exchanges have loopholes and, with the right knowledge, can be exploited by users in order to save and earn. Hope this article was helpful and good luck on your trading quest.
Find out more on the Points Card OTC Telegram Groups:
Chinese: https://t.me/joinchat/G6O76w5BEyjfnYY6UbIZXA
English: https://t.me/hbpointcardotc