Huobi, having seen that the Australian government accomodate the cryptocurrency ecosystem, decided to extend its activities towards that direction by supporting AUD trading in ten cryptocurrencies.
Cryptocurrency is gradually finding its way to the mass living in the world today and it is getting more popular each day that passes by. This is due to the activities and responsibilities taken up by various exchanges and trading platforms as they face the challenge of getting the interest of people who are ignorant of the new technology. This challenge posed by the new technology paves the way for faster global adoption.
Huobi is one of the biggest exchanges in the world, their decision to expand its activities to Australia is a very interesting one. Although, the country already has an established cryptocurrency community but does not necessarily mean the people are associated with Bitcoin activities that much. Ever since Huobi took the decision of extending its activities to Australians, more people were lured into the crypto space after seeing the impact it had on the lives of the early adopters in Australia.
However, it is worthy for us to note that Huobi is the first company to have offered their services in Australian dollar. Huobi Australia, as the name implies, means that transactions could be done directly with their local currency rather than converting to a foreign currency before investing. Currently, the platform only supports 10 different digital currencies, more pairs will be available soon, but no specific time has been proposed yet.
The currencies that could be traded directly with the country’s local currency included 5 top cryptocurrencies by ranking on the coinmarketcap and 5 alt. coins. They are Bitcoin, Ethereum, BitcoinCash, Litecoin, Ethereum Classic and POWR, ELF, CTXC, DTA, IOST (alt. coin).
With the easy-going cryptocurrency regulatory system, I believe that Huobi Australia would gain more traction in the coming months.