Huobi Cryptocurrency Exchange Review : Pros & Cons

About Huobi

Huobi Global is an international digital asset exchange with a presence in over 100 countries. Founded in China in 2013, the platform works with global clients and provides trading and investment services to users around the world, handling over $4 billion in daily trading volume. The centralized exchange (CEX) supports initial coin offering (ICO) tokens and offers an extensive list of cryptocurrencies, with over 500 assets and 300 trading pairs listed on the platform.

An insurance policy is available for users to protect their assets, and there is also 24/7 access to several channels for contacting the support service. The exchange was created in 2013 by Leon Li in Beijing. Leon Li is the CEO who graduated from Tsinghua University in 2013 with a degree in Automation. Prior to Huobi Global, Li worked as a computer engineer at Oracle Corporation, one of the largest US-based software companies.

Information Table

How To Register At Huobi Exchange ?

To register on Huobi, click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Huobi Cryptocurrency Account ?

There is no mandatory verification at Huobi, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of 0.0362. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Huobi, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Huobi Crypto Exchange ?

There are two main options for topping up your balance on Kraken. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Huobi Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Huobi Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Huobi Global Fees?

Huobi has a tiered fee structure, so trading fees depend on the monthly trading volume for each user. The platform charges a base maker and taker fee of 0.2%, the fee is reduced after the first $5 million of trading, and Huobi Token (HT) holders have a discount. For professional traders, the maker fee starts at 0.0362% and the taker fee starts at 0.0462%.

Is It Possible To Use Leverage or Margin Trading on Huobi Global?

Margin trading is available on the platform for various cryptocurrencies, which allows users to borrow funds to trade with leverage up to 3X for cross margin. Interest rates are calculated on an hourly basis. Users can also trade crypto futures for Bitcoin and Ethereum contracts, with leverage of up to 200X.

Features Of Huobi Crypto Exchange

Available At Android & IOS Store

Huobi Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading.

Wide Range of Cryptocurrencies

Huobi supports trading in a wide range of cryptocurrencies, including major ones like Bitcoin, Ethereum, and Litecoin, as well as many altcoins.

Spot Trading

Huobi provides spot trading services, allowing users to buy and sell cryptocurrencies instantly.

Margin Trading

Huobi also offers margin trading, which enables users to trade with leverage, amplifying their profits (or losses).

Futures Trading

The exchange provides futures trading services, which allow users to speculate on the future price of cryptocurrencies.

Stablecoin Trading

Huobi supports trading in stablecoins, which are cryptocurrencies pegged to the value of a stable asset, such as the US dollar.

User-friendly Interface

Huobi has a user-friendly interface that makes it easy for users to trade and manage their portfolios.

High Liquidity

Huobi has high liquidity, ensuring that users can easily buy and sell cryptocurrencies without significant price slippage.

Security

Huobi places a strong emphasis on security, implementing measures such as multi-tier and multi-cluster system architecture, secure storage of user assets, and more.

24/7 Live Chat

If you’re awake, they are too. When you need help, your team of experts will work with you via 24/7 live chat to reach a quick and efficient resolution.

Huobi Conclusion

Huobi is a cryptocurrency exchange founded in 2013 in China and now based in Seychelles. It provides a platform for trading cryptocurrencies, including Bitcoin, Ethereum, and many others. The exchange offers spot trading, margin trading, futures trading, and other financial products. Huobi has a large user base and has established a strong reputation in the cryptocurrency industry for its security, reliability, and user-friendly platform.