Have you received point cards in your Huobi account but are unsure what to do with them? In this lesson, we cover what point cards are, how to use them and how to get more. Hint: they make your trading inevitably more profitable.
You can learn more with the following beginner lessons:
What is a point card?
A point card is a credit that can be used to pay trading fees and deduct margin interest. A point card’s value is determined by how many points it contains, with each point valued at 1 USDT. For example, if you have 10 points on your point card, you have 10 USDT to use for free trading or margin loans.
There are two ways to get point cards. One is to receive them from other Huobi Global users — you can send and receive point cards by going to My Point Cards, then clicking Point Card Transfer. The other way is through promotional events, which run constantly and distribute point cards, usually with a rather open hand. A promotional event can be anything from a simple quest (completing some actions on the exchange) to concluding a certain amount of trading.
How to use point cards
There is a standard 0.2% fixed spot trading fee rate applicable to all users who have enabled the points deduction function. This fee is automatically charged to your point card if you have enabled the point card function.
If the trading pair you use requires fee payment in USDT (as with all USDT pairs, like BTC/USDT), the fee will be deducted in the form of points from your point card. However, if you use other tokens to pay the fee (i.e., non-USDT pairs like BTC/ETH), the fee will be calculated in USDT according to the exchange rate and the system will charge the USDT amount to your point card.
If there is insufficient balance on your point card, the point card will be used to make partial fee payment with its available points, while the remaining payment will be made using your account balances.
Similarly, you can use your point card to pay the interest on your loans. In the case of a margin loan, the standard interest is a standard 0.098%, which applies to users who have enabled the points deduction function. For example, if you want to borrow 17,000 USDT for three days at an interest rate of 0.098% to trade BTC/USDT, you must pay 51 USDT in fees.
If you have sufficient points on your point card, the corresponding 51 points will be deducted directly from the card. Otherwise, the portion of the fees not covered by the point card will be deducted from your account balances.
How to enable point card usage
1. On the Huobi Global main page, mouse over the person symbol and click Fee Settings.
2. Bring the Use Point Card to deduct slider from left to right to enable the point card for fee payments.