Huobi is a major cryptocurrency exchange in China, and this asset is a tokenization of that platform. Their native currency is based on the ERC20 standard protocol. Essentially these will be used to "offset" trading fees for those that are using the trading platform.
The idea being that this platform utility token will entice those that are already there to keep their business on the exchange due to the benefits of being a holder. With a very small circulating supply of only around 50 million tokens this asset could appreciate in value quickly should the demand for it increase.
This asset was issued as a "gift" with purchases of premium services within the platform. The VIP packages offered by this exchange were surprisingly popular. They claim that all of them sold out in under a minute. There is also a company buyback plan where a percentage of fees will be used to control the flow of these native tokens. As far as your Huobi Token investment goes this will work to limit the supply, raising the price in time.How to buy?
In order to buy Huobi Token, you must use their native exchange platform. At present, this is the only listing for this particular asset. The accepted trading pairs are Bitcoin, Ethereum and US Dollar Tether. While this may be inconvenient for some investors, there is ample liquidity here to make a swap for any of the above-mentioned currencies.
This is an Ethereum asset, and that means you'll need an ERC20 compatible wallet in order to store your investment safely. It's not recommended to ever leave your coins on an exchange as you do not control the private keys for these wallets. Instead, use a wallet in your control such as My Ether Wallet, or a hardware wallet such as a Ledger or Trezor. Make sure to always make a back up of your wallet file or seed for safe keeping.