In this lesson, we will go through each account and elaborate on its use.
How can I access these accounts?
1. You can locate your various accounts by clicking [Balances] at the top right of the screen, then choosing [Assets Overview] from the drop-down menu, which will bring you to a page that contains all your different accounts.
2. You can also choose a specific account directly from the drop-down menu.
What are the nine different account types on Huobi Global?
Exchange account: Your Exchange account contains all your fiat and cryptocurrency assets that you can transfer to other accounts or withdraw to other chains. Your deposits will appear on this account, which also contains the assets that are ready for Spot Trading. In other words, if you don’t have assets on this account, you can’t open a trade.
Margin account: Your Margin account displays all cross-margin and isolated margin contracts. It also contains the most important metrics related to your open trades, and the actions that let you manage your trades.
In short, margin trading allows you to borrow funds to perform leveraged trading, which means you can open a position larger than the balance of your account.
Fiat account: This account displays your fiat holdings and can also be used to hold your tokens. You might, for example, want to hold some of your assets here so you can use Huobi P2P to buy and sell tokens with zero fees. Some traders also keep part of their assets here to separate the assets they want to trade from the ones they want to secure and convert to fiat.
Derivatives account: This account is part of Huobi Futures, which is Huobi Global’s digital asset derivatives trading platform. The account displays all USDT- and coin-margined contracts, as well as coin-margined swaps and the most important metrics related to them. The Derivatives account overview can come in handy if you have many open contracts simultaneously, as you can see whether any of them are close to being liquidated.
If you are not planning to trade futures, you need not pay attention to this account.
Quant account: Your Quant account is related to grid trading, an automated trading strategy and a program that buys low and sells high within a specific price range to produce profits for the trader.
This account displays your invested assets only after a grid trading strategy has been created and opened. When grid trading stops, the platform automatically transfers the invested assets plus generated profits to the Exchange account.
Huobi Earn account: You can think of your Huobi Earn account as a high-yield savings account. It allows investors to park their inactive cryptocurrencies in a separate account to earn interest.
There are four main types of Huobi Earn deposit products available for investors who are signed up with Huobi Global (the account displays either as Flexible or Fixed) — Featured, Flexible, Fixed, and New User.
Pool account: Huobi Pool is a sub-brand of the Huobi Group. It is one of the world’s largest staking pools, and you can use it as a one-stop service for token mining. Users who stake their tokens on Huobi Pool can earn staking rewards, Airdrops, and Huobi Pool Tokens (HPT).
Collateral account: This account displays the information related to the loans you have taken. The ‘Loaned’ metric displays all your loans in total and ‘Current Collateral Amount’ refers to the total collateral, i.e., the amount backing your loan. The way crypto loans function is when you borrow a certain amount, your deposit depends on the loan-to-value (LTV) ratio simultaneously, which usually starts from 60%.
Options account: Huobi Global offers contracts for European Spread Options, American Options, and Touch Options for BTC / USDT and ETH / USDT pairs. The Options account view shows how much you have in BTC, ETH and USDT available for opening new contracts, and how much is frozen.
Note that you don’t need to open new accounts (except Derivatives, which are part of Huobi Futures) to access various services, as you can access them simply by transferring assets from one account to another.
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