Huobi Brings Margin Trading, Interest Accounts to Bitcoin and Litecoin
Chinese 'big three' exchange Huobi is bringing margin trading and interest accounts to bitcoin, in a bold and possibly industry-first move designed to make more 'traditional' financial products available to serious digital currency traders. The company's new platform, BitVC, is a Hong Kong-listed subsidiary company with a margin trading platform for both bitcoin and litecoin. Users may borrow up to 200% of the net value of all assets in their accounts; that is, BTC, LTC, CNY values combined. Bitcoin interest. To accompany the move, Huobi is launching another new brand called Yubibao to....
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BitVC, the Hong Kong-registered subsidiary of China-based digital currency exchange Huobi, has officially opened its margin trading and digital currency savings accounts to the international public. Huobi's margin trading platform BitVC and its 'Yubibao' wallets, which also function as interest-bearing savings accounts, had been in an invitation-only beta phase since June. Speaking to CoinDesk, Huobi's Robert Kuhne said that more than 5,000 users had signed up and used their accounts during this trial period, with about 30% of current BitVC account holders residing outside mainland China.....
China's busiest bitcoin exchange, Huobi, has announced it will start trading litecoin on 19th March, however, the company's users can begin uploading litecoins to their accounts starting today. Huobi is said to be finalizing tests for implementation before regular trading commences. The litecoin price on BTC-e took a sudden leap earlier today - very likely as a result of the Huobi announcement. Huobi co-founder Jun Du said the company only considered implementing litecoin after careful deliberation and would provide the same business support and services it already does for bitcoin. A....
Chinese bitcoin exchange Huobi has announced on their website plans to begin support for litecoin trading beginning on the 19th of March. With an estimated 20 percent of the exchange's user base saying that have money in litecoin, the company said they decided to add the functionality after careful consideration. The move comes not terribly long after Huobi's competitor BTC China announced the availability of litecoin trading with no commission, a move that is designed to keep up with the growth of the number two most popular cryptocurrency. Canada-based VirtEx also added litecoin trading....
As Bitcoin exchanges in China halt margin trading, zero-fee trading may also be on the chopping block as the industry awaits regulation. China Halts Margin Trading Following the inspections conducted by the People’s Bank of China, the country’s ‘Big Three’ Bitcoin exchanges BTCC, OKcoin and Huobi have stopped margin trading services. Although no official statement from the PBoC has been issued regarding the legality of the margin loan services, media reports state that the platforms’ margin trading “violated rules” and resulted in abnormal price volatility. BTCC CEO Bobby Lee reacted to....
While everyone was preoccupied with bitcoin price drops after last Friday's 'fake Chinese bitcoin ban' news incident, something even more dramatic was happening at China's largest exchange, Huobi, and its new litecoin trading system. A 'flash crash' on the exchange saw the price plunge to just 1 RMB (Chinese yuan) a short time after a hoax news report of a complete government ban on digital currencies was posted on microblogging site Sina Weibo and reported by Sina's financial news service. The number of trades executed at that price is unknown, as is the total amount of money lost -....