VIP AMA Recap：How to Save 70% Trading Cost by Joining Huobi Upgraded VIP Program？
From December 2020 to January 2021, we have witnessed Bitcoin’s surge from $19,000 to $40,000 in just one month, detonating a bull market and attracting many retail and institutional investors. As the world’s largest encrypted Huobi derivatives trading platform, Huobi Futures has always been committed to improving users’ trading experience, and has introduced different policies to maximize the use of users’ funds.
In this AMA, we invited Tom Wong, COO of Huobi Futures, to introduce us in detail the upgraded VIP policy and the fee rate structure of USDT-margined swaps. The most important, Tom will tell us how to save more than 70% transaction cost by joining Huobi upgraded VIP program.
Guest Introduction
Tom Wong, COO of Huobi Futures. Tom was a serial entrepreneur before joining the Huobi Group. After years of technical experience in Huawei, Tom started his journey in the blockchain industry first as a miner in Thunder and later starting businesses of his own. Currently, he takes a full range of operation and marketing as COO at Huobi Futures and becomes a crypto derivatives pioneer by introducing the VIP Sharing Program which was modeled later on across the industry.
VIP AMA- FAQ
1. What programs does Huobi Futures have to help users reduce trading cost fee? what is the advantage of one program over another? Nicole Calt@Nic1Cool
We have two main program to help users reduce trading cost:
● Upgraded VIP Sharing Program: VIPs of any exchange are considered as Huobi Futures VIP+1. Users could provide VIP level or trading volume in the last 30 days on other platforms to apply for a VIP+1 level on Huobi Futures (available for coin-margined futures and swaps). https://support.hbfile.net/hc/en-us/articles/900004736623-Huobi-Futures-Upgraded-VIP-Sharing-Program-VIPs-of-Any-Exchange-are-Considered-as-Huobi-Futures-VIP-1
● Deposit to Become a VIP Program: users with only $30,000 worth of assets could apply for a VIP on Huobi Futures. (available for coin-margined futures/swaps and USDT-margined swaps.) https://support.hbfile.net/hc/en-us/articles/900003415926-Huobi-Futures-Launches-Deposit-to-Become-a-VIP-Activity
Due to the fact that most exchanges require at least hundreds of BTC to be traded per month to reach their VIP standard, many traders have been rejected by these platforms to get a VIP when the annual increase in Bitcoin price has risen by 400%. If you become a VIP of Huobi Futures through either of the above two programs, you should never worry about the increasingly stringent evaluation standards because we use USD as trading unit to evaluate all the time.
2. Would you mind providing a bit more detail as to the role of VIP program as part of the reduce trading costs? Lee Di@pandalucu66
Yes. Please see the below chart on how your 70% trading cost is saved if you trade on Huobi Futures. Based on the data of the crypto derivatives industry, 60% of the VIP trading volume comes from taker orders, and the remaining 40% comes from maker orders, meaning that at 70% of transaction fees can be saved every month if your trade on Huobi Futures. For example, if your monthly trading volume is 25 million USD, the transaction fees on other platform are at least 7.6k and the fee you have to pay on Huobi is only 2.2k, meaning you can save at least 5.4k. And the more you trade, the more you can save. If your monthly trading volume is 1000 million USD, then you will save at least 164k on Huobi Futures.
3. How much is USDT-margined Swaps trading cost on Huobi?
Our promotion period will be extended to Feb. 28, therefore users who become a VIP before this time could enjoy extremely low transaction fee: our Tier-7 traders will even be able to have a maker fee of just -0.025 percent coupled with a 0.026 percent take fee. All VIP market makers are charged negative fees, while normal makes and taker fees are 0.02 and 0.04 percent, respectively. Please see details as below chart:
4. How can I apply for a VIP through this upgraded program? Daydream@Du6lT7khVcKLbgl
Method 1: Click the link for application: https://su-8093e18f196b3d42.jinshuju.com/f/J8MkCd
Method 2: Provide the information below to dm_vip@huobi.com:
· Huobi UID that does not exist rebate relationship
· Cell Phone
· Country
· Asset, trading volume or VIP level screenshots of the related contract account on other platforms
5. I checked your announcement and found that I’ll get a VIP4–6 if I deposit 200,000 USD worth of assets into the USDT-margined swaps account, then I want to know whether I can get the same level for coin-margined swaps if my application for VIP of USDT-margined swaps is approved? Are they connected? Bourne@Bourne84207751
Good question! On Huobi Futures, the VIP level you can apply for each account is independent. If you deposit 200,000 USD worth of assets into the USDT-margined swaps account, you’ll be qualified on applying VIP4–6, however, to apply for the same level of coin-margined swaps, for example VIP 5, you’ll have to deposit 500,000 USD worth of assets into the corresponding account. For more details, please check the below chart.
6. What the lowest trading fees offered by the VIP program? Nicole Calt@Nic1Cool
The lowest trading fees you can enjoy:
USDT-margined swaps: -0.025% for maker, 0.026% for taker;
Coin-margined swaps: -0.010% for maker, 0.037% for taker;
Coin-margined futures: -0.005% for maker, 0.020% for taker.
7. Futures trading are risky and should be treated with caution. Can Huobi Futures tell us if it has any risk management strategies for traders? nsparvin@nsparvin1
We protect our users with a strong cybersecurity defense system that significantly minimize risks of DDoS attacks. Furthermore, we have a security fund of 20,000 BTC. For each trading pair, there is a certain amount of insurance fund prepared. Besides, there are price limits, order limits, position limits and real-time monitoring to protect users from market manipulation. To protect users from unnecessary losses in a liquidation, we designed a three-phase liquidation protection mechanism, and no transaction fees will be charged in partial liquidation. This is something we hardly see in any other popular crypto exchange.
In our latest version., the system has a throughput of 10W+, the response speed of placing and cancelling orders is within 6ms, and the link delay is within 25ms. According to the annual report published by TokenInsight, Huobi Futures ranks first in derivatives market with its total trading volume of 2.24 trillion.
Being a VIP on Huobi Futures means that you can enjoy this excellent liquidity and all high-quality services at a very low cost.
8. Will I be evaluated in the first month of becoming a VIP? Apart from the preferential transaction fees, what benefits I can get on Huobi Futures?
Clients who apply for the program in the first half of the month will not be evaluated in the current month; clients who apply for the program in the second half of the month will not be evaluated in both current month and the next month. Other benefits you can enjoy on Huobi Futures:
● excellent liquidity and the highest trading volume among all exchanges in 2020
● mature risk control system and top-level technique to secure asset safety
● no worry about the clawback
● the positions of profitable users will never be reduced
● 7*24 point-to-point service
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