BC.Game

Prime from Huobi Global: Deep Dive into Best Value-added Membership Program

UTC by Julia Sakovich · 5 min read
Prime from Huobi Global: Deep Dive into Best Value-added Membership Program
Photo: Huobi Global

When members invite their friends to Huobi Global, the invited friends will be able to enjoy the privileges offered by Prime while the inviter can also enjoy the commissions and rewards offered by Huobi Global.

Have you ever missed out on many VIP benefits on crypto exchanges simply because you, as a small-time retail investor, do not trade enough to qualify for perks and fee discounts? Ever been confused by the complicated rules of membership programs and the different VIP levels offered? If you are struggling with such questions, this deep dive into Huobi Global’s Prime membership is for you.

Huobi Global, one of the world’s leading cryptocurrency exchanges, last week unveiled its long-anticipated new membership system, named Prime. Dubbed the most valuable and inclusive membership system in the crypto industry, the program aims to bring more benefits to users across different trader types.

Most Inclusive

The Prime program provides the industry’s lowest threshold for users to qualify in order to enjoy VIP benefits. For example, any user can become a Prime member when they start trading or deposit assets at Huobi Global.

Any user whose trading volume exceeds 10,000 USDT for spot trading or 100,000 USDT for derivatives trading, or deposits 2,000 USDT worth of assets at the exchange will be automatically promoted to Prime1 – a level with the industry’s lowest threshold to enjoy benefits compared with the thresholds for entry-level VIP status set by other exchanges’ membership programs.

The modest trading volumes listed above stand in contrast to the requirements for becoming a VIP member on other platforms such as Binance or KuCoin – where users are required to reach trading volumes of at least 1 million BUSD or 50 BTC for spot trading, or 15 million USDT or 100 BTC for derivatives trading.

Requirements for becoming a Prime/VIP member on Huobi Global, Binance and Kucoin.

Members from Prime1 onward will be able to enjoy preferential transaction fee rates (minimum 20% discount). The higher a user’s membership level, the more transaction fees he/she stands to save. In addition, Prime1 and above members will have increased chances of receiving airdrops organized by Huobi Global: the higher level, the higher the airdrop chances. There are 12 Prime membership levels available (Prime0 to Prime11) to meet the needs of different users.

In other words, the Prime membership is retail investor-friendly and operates with inclusivity at its core. If a user holds a key, active account with healthy trading volumes on other exchanges, he/she would then stand to enjoy the “Prime Level + 1 Immediate Upgrade” channel on Huobi Global, which allows veteran traders to provide their proof of eligibility for higher Prime levels.

Most Valuable

Prime members will qualify for discounted transaction fees that could go as low as 0.0126%. Members who pay for their transaction fees using Huobi Token (HT) can enjoy an additional 12% discount which could bring fees to as low as 0.0111% for spot trading and enjoy rebates of up to 0.01% of the total transaction amount for derivatives trading.

When comparing the lowest transaction fees charged by Huobi Global and Binance, it becomes apparent that a spot trading volume of only 1.8 billion USDT is required to obtain a maker fee of 0.0111% and a taker fee of 0.0192% on Huobi Global. However, in order to obtain the lowest maker fee of 0.015% and taker fee of 0.03% on Binance, users are required to have traded 5 billion BUSD in the past 30 days, a figure that is significantly higher than the 1.8 billion USDT requirement set by Huobi Global.

Lowest spot fee comparison between Huobi Global and Binance.

If a Prime11 maker trades assets worth 1 million USDT (70% with maker orders; 50% with taker orders), and pays the transaction fee using HT, the transaction fees he/she would pay on Huobi Global are: 700,000 USDT*0.0111% + 300,000 USDT*0.015% = 122.7 USDT.  However, the fees charged by Binance would be 700,000 USDT*0.0192% + 300,000 USDT*0.03%= 224.4USDT. The user can save around 102 USDT or more than 40% of transaction costs by trading on Huobi Global.

Being a Prime member allows users to receive a variety of transaction privileges and value-added services at Huobi Global. In addition, Huobi is planning to release NFTs, which can be used as unique identifiers in the Web3 world, to Prime members in the future.

Simple Upgrade Rules

The newly designed Prime system promotes simplicity and ease-of-use. Members can either upgrade their Prime levels by reaching a certain trading volume or holding a certain amount of assets to enjoy the benefits offered by higher levels. For example, if a member has reached a certain spot trading volume for Prime 5, it would not be necessary for him/her to also reach the corresponding required derivatives trading volume in order to enjoy that level’s benefits of derivatives trading.

Newly registered Huobi Global users do not even have to become a member by trading – instead they can simply deposit a certain amount of cryptocurrencies at Huobi Global. Huobi Token (HT) holders can even enjoy higher membership levels as the amount of HT assets they hold will be treated to a 1.5x multiplier when used for the purpose of Prime membership level qualification.

This is the first time in the crypto industry that a membership system doesn’t take trading volume as the sole qualifier for membership level promotion.

Benefit Sharing

Benefits are best shared with friends.

When members invite their friends to Huobi Global, the invited friends will be able to enjoy the privileges offered by Prime while the inviter can also enjoy the commissions and rewards offered by Huobi Global. This is a win-win solution for both users and their friends.

In addition, friends of members who are of levels Prime6 and above will be able to enjoy the benefits offered by the inviter’s Prime level for as long as 30 days.

Prime’s unique benefit-sharing perks extend to followers of crypto industry influencers. Followers of influencers who have partnered with Huobi Global will enjoy the same benefits offered by influencer’s existing Prime level.

Work It
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

Related Articles
-->