Huobi Global is one of the largest digital asset exchanges in the world. The company is headquartered in Singapore and has a global reach, servicing customers in over 130 countries. Huobi Global offers a wide range of services, including spot trading, margin trading, over-the-counter (OTC) trading, and more. In this Huobi Global Review, we’ll take a look at Huobi Global’s features and services, as well as its pros and cons.
If you’re looking for a cryptocurrency exchange, it can be hard to find one. There are dozens of exchanges out there but not all of them are created equal. Some have great features and some don’t.
Huobi is an up-and-coming crypto exchange that has been getting rave reviews from traders around the world. Their trading platform offers many unique features that help make trading easier than ever before!
Read this review to learn how Huobi works so you can decide if it’s right for your investment needs! We’ll cover everything from fees to security and more in our Huobi Global Review today!
Table of Contents
What Is Huobi?
Huobi is a Singapore-based cryptocurrency exchange that is owned and operated by Huobi Global Limited. Founded in 2013, the company has offices in Singapore, Tokyo, Beijing, Hong Kong, and New York. They were one of the first cryptocurrency exchanges to offer a fiat gateway for trading, and their focus is on innovation and future development of the Blockchain economy.
The Chinese government had hoped to ban cryptocurrency trading in the country, but the Huobi incident may have changed that. For the time being, Huobi’s market dominance has made it a major player in a market of its own.
The Huobi main (Huobi Pro) exchange contains more than 100 leading cryptocurrencies. Traders may use the platform to trade any pair without difficulty, because it is available in a variety of currencies.
The company was started in 2013 when Leon Li, a former Oracle engineer who had previously purchased the Huobi domain, began Bitcoin live trading. Taking advantage of China’s growing Bitcoin market interest, Huobi attracted venture capital from top investors such as the Sequoia Capital group.
Huobi has been extremely successful. It surpassed expectations, hitting a market share of 30% in just three months after its live commencement. By 2014, the exchange had almost quadrupled its revenue and showed that it would finally answer Asia’s digital assets demands.
According to reports, Huobi is the fourth largest exchange in terms of revenue, with $247B in revenue last year.
It was quite a surprise when China’s central government suddenly banned cryptocurrency trading in late 2017. Despite the ban, some traders persisted in their activities. In fact, a new study by two universities has found that some of these trading platforms are still operating.
To deal with the situation in China, Huobi quickly withdrew all of its crypto operations from China and came up with a new strategy. It was then that Huobi moved to Singapore, and until now it has concentrated all of its resources on the Chinese market.
Crypto trading platforms that begin to expand their business model beyond the United States, and even beyond their home market, are a growing trend in the industry. This type of expansion has always been necessary, but more so now with the rise of international demand for cryptocurrencies.
Features of Huobi
The Huobi exchange offers the following services for its registered users:
Easy User Interface
The Huobi website, like many other exchanges, is simple to use and balances usefulness, visual appeal, and elegance. The trading interface features correct price feeds, charting tools, market depth data that are structured logically. Huobi’s professional interface and capabilities also benefit the alternative HADAX crypto market which supports small tokens and cryptocurrencies.
Multiple Order Types
The following order types are available on the platform:
– Limit order is a type of buy and sell order that restricts the trade to a specific price.
– Market and stop limit orders allow traders to set a maximum price for their transactions.
– Stop limit orders function similarly to stop loss trading, except instead of taking profits or limiting losses, they’re used to protect against large swings in prices.
This is one of Huobi’s most unique features, which mixes an order book, a chart index, and a market graph. The Flash Trade allows users to test real-time trading volume, especially during times of high volatility.
Compatible Across Multiple Platforms
The Huobi platform supports a variety of devices, including but not limited to Macs, Windows computers, iOS smartphones, and Android phones.
Huobi Global has a high level of security. Located in Singapore, where crypto laws are sophisticated and support numerous blockchain startups, Huobi uses a number of security measures to keep users’ accounts safe, including two-factor authentication via SMS or the Authenticator app.
Swift Customer Service
Huobi responds to customer complaints promptly. Customer support is also simple to use. Within an hour, the customer service staff resolves any trading problems.
Huobi Fees & Limits
The fees at Huobi are extremely low, owing to the platform’s move to a native token-based economy like as KuCoin, BIbox, and Binance. Unlike these other platforms, the platform formerly supported USD and Yuan withdrawals and deposits before China’s government prohibition on cryptocurrency trading caused it to cease support for both currencies.
The trading fees are also quite low, and the exchange does not distinguish between maker and taker. It charges a fixed rate of 0.2% from both (taker and maker). The only problem with this is that trading fees can be reduced to 0.1% on a sliding scale depending on trading volumes.
Huobi Withdrawal Fee and Limits
The withdrawal fee charged by Huobi is the mining fee paid for the network services. The following are the top seven currencies and their respective withdrawal costs: –
Bitcoin – 0.001 to 0.001
Bitcoin Cash – 0.0001
EOS – 0.5
Ethereum – 0.01
XRP – 0.1
Litecoin – 0.001
Tether – 20
Users do not need to submit their personal identification documents (KYC) in order to create an account on Huobi. Users. This implies that the amount that customers may take out within a given time period will be restricted. Unverified account users are allowed to withdraw up to 0.1 BTC per day, which is currently worth $600 per day. The maximum amount that can be taken out of Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), and Litecoin (LTC) each day is 2.5 coins.
Huobi Accepted Payment Methods
The Huobi exchange platform takes two legal tender currencies – the US dollar (USD) and the Chinese yuan (CNY). They also deal with two major virtual currencies – bitcoin (BTC) and litecoin (LTC).
Huobi Token (HT)
Huobi created their cryptocurrency, HT, which runs on the Ethereum blockchain. Unlike most native tokens generated by cryptocurrency exchanges, Huobi’s token price (Huobi token cost) was not determined through an ICO but as a loyalty program for account holders.
Huobi announced it had raised $300 million worth of HT tokens for its customers in the first week of its launch. Customers can buy HT coins with a 50% reduction in trading fees. HT also grants users the rights to vote on decisions regarding the exchange, and to take part in the launch of future ICO projects.
Huobi’s willingness to decrease trading costs using HT is simple. Users simply need to keep HT in their wallets and then pick the option to utilize HT from the token configuration panel when trading fees are paid. This means that they can now save a lot of money when compared with typical trade charges.
There are also VIP memberships accessible to subscribers that they may book to minimize the costs to a maximum of 65%.
Huobi Mobile Application
Huobi is one of the most popular exchanges in China, providing traders with the ability to trade on the go. It’s simple to use and it has all of the same capabilities as its desktop version.
Users who download the app can easily register and use their account in minutes!
Huobi Security & Safety
The security measures used by the Huobi exchange platform are considered adequate according to many online reviews and our study. As a result of its size and position as the best cryptocurrency exchange, it is fully expected from a reputable and large firm like Huobi.
The site was created on a modern distributed system that is highly secured and utilizes advanced offline cold storage technology for extra protection.
Huobi is a trusted and reliable cryptocurrency exchange, catering to the highest conventional requirements. Huobi’s security and safety record has been unblemished.
Huobi Customer Support
Huobi provides customer service in English and Chinese to accommodate the huge client base dispersed worldwide. Traders can interact with customer care staff by phone, email, or online chat to report issues. They can also create tickets for whatever they want to complain about, and it will be addressed within a few hours.
Huobi’s customer support is among the best on the market, and it offers a variety of social media and mobile apps where users can ask questions and get quick answers from the company.
Here are some alternatives to Huobi.
Huobi, a cryptocurrency trading platform, assures investors that it is a trustworthy one. Aside from the other unique characteristics of the platform, the User Protection Fund deserves special attention. It’s a great way for a service like Huobi to set aside funds in case users act as insurance against any unexpected breaches or hacks, which is truly commendable.