In our review, we have made the effort to bring forth all the important information for your better understanding before you start trading on the Huobi crypto exchange.
General Information about Huobi
Huobi is one of the major cryptocurrency exchanges and is considered as one of the largest exchanges in Asia by trade volume. It is also defined as the ‘digital asset exchange’ and not just only crypto exchange. Huobi was founded in China in the year 2013, but in the year 2017 China banned bitcoin and crypto trading, but the company adjusted its business and focused on global expansion. later in November 2017, the company relocated its headquarter in Singapore. The company offers a platform to the users in nearly130 countries now has offices in Hong Kong, Korea, Japan, and the United States. It is a global cryptocurrency exchange but its main focus is on the Asian market.
Huobi has over 510 active market and more than 90 cryptocurrencies listed on the exchange. It offers excellent security, good customer support, assets listings, and trading fees, all these points makes Huobi a good option for users to trade and easy to buy and sell. Now, through Huobi App for Android or IOS and windows Mac trading, it has become much easier. Recently Huobi’s IOE platform spotlight has abetted in gathering more attention for the exchange than ever before.
The various other alternatives of a top cryptocurrency exchange in the market are Coinbase Pro, Kraken, Bithumb, Bitfinex, ZB.COM, bitFlyer, and many others.
Huobi Wallet has made all coin and tokens obtainable, it is a professional multi-currency, crypto wallet helpful in a quick exchange. It allows you to buy, store, transfer, earn crypto like BTC, ETH, XRP, USDT, and many more. It is considered a safe and secure platform that makes it easy to buy and sell and it makes sure that all your digital assets are safe and secure. The wallet currently supports 1000 digital coins (ERC20 tokens) and more recently there is two addition in the wallet and they are EOS and TRX two smart contract platforms.
Huobi has a huge variety of trading pairs it is quite possible that you never have to see the same digital assets a second time if you don’t want to, as the exchange has a large variety of trading pairs.
Huobi exchange fees have a standard rate of 0.2 % on each trade made by both traders and makers, which is really high if compared with Binance. But there are fees reduction or discount on the platform using HT (Huobi Token). It is highly competitive when it comes to trading fees. In Huobi the trading fees decrease with increasing trade volume i.e 0.015 % for makers 0.025% for takers with up - to 300 million.
It provides good customer services. Huobi is very quick in responding to their customer in account-related issues as compare to the other exchanges in the industry.
Huobi has no strict KYC /AML requirement feature, it means that all the users are not asked for verification, although it reserves the right to ask for it from any of its users to unlock a higher withdrawal limit.
Huobi gives protection to its user’s funds this is one of the best features that any exchange can offer to its customer. Similar to Binance’s SAFU it shifts the profits into its user protection funds which give security to the user’s funds. In case of any theft, hack, and other incidents that occur on the website, it gives protection to the users and the users can get the gone coins back.
Huobi derivatives and MargingTrading It has now also launched its derivates products and margin trading which makes it among the best in the industry.
How is it to work in Huobi?
It is quite easy to buy bitcoin or trade-in Huobi, first of all, you need to open an account in Huobi, and to do that you need to first visit the correct Huobi site. It might appear a bit confusing and might raise a question in mind, as there are various sites available like huobi.com, huobi.com, and hbus.com but an answer to this is all the sites are correct. As its management takes care of it and clears up the domain name which helps the users from logging into spam sites.
Once you are at the version of Huobi that matches up with your citizenship. You have to enter the site all you need to do is first create an account and sign in. You also need to set the 2 factor Authentication and trading password to protect the account. Now after logging in successfully to buy Bitcoin you need to click on buy Crypto on the top left. Next you have to enter the currency with which you want to pay and then select the Bitcoin to make purchase you can only use the credit cards. On the order screen, you have to confirm the payment method, amount and then you need to click on ‘Go to Simplex’. You will be asked to enter your credit card data and few personal details to proceed your order. After this simplex will send your bitcoin to your account.
Similarly, If want to trade you first obviously need to login to the account. Then you have to take care that you have enough funds in your account if in case you don’t own crypto currency in your account. Next you have to select your trading pair like BTC/USDT, ETH/USDT, JST/ USDT, etc. for this you need to click on ‘Exchange’. after this you have to scroll down and choose between a market or limit order.
Market Order executes a trade instantly at the best available price whereas, Limit order needs to be filled by the seller.
After filling in the amount and you have to select your preferred order and have to click on BUY BTC. For checking the availability of your assets you can just click the Balance button visible in the upper left corner. If you want to withdraw you can just go to balance tab and click on Deposit & Withdraw.
Huobi global has partners and there is other exchange being run by the partners. The two partners are Huobi Pro and Huobi HBUS which is their U.S strategic partner.
In our review we have tried to bring out the important features and have tried to tell you about how is it trade in Huobi plus we have also listed the various Pros and Cons about Huobi. It is considered one of the top ten cryptocurrency exchange in the industry which gives fast and smooth interface and is taken as highly safe and secure exchange which protects your account from theft and hack, if focuses on crypto -to -crypto trading. The most appreciated features of Huobi is that it provides round the clock customer support and the wide range of crypto coins and tokens which makes it undoubtedly one of the best exchanges in the world. It also provides pre trade education program to the new users.
While concluding we would say that it is undeniably one of the reliable exchange with 6 years plus of digital assets service experience in the industry, and is highly recommended among the various other choices of exchanges we have for cryptocurrency and digital assets.
It is easy to use for the beginners
It offers you good and customer support by giving quick response to the customers within an hour almost.
It gives good security to the user coins which makes it better than the other exchanges in the market.
It also has mobile app for android and IOS users and is available for windows Mac which makes trading easier.
It gives impressive trading platform and provide vast rage of cryptocurrencies.
It has low trading fees.
It offers decentralization structure
KYC takes a bit long time to verify new account.
The withdrawal limits of Huobi is low.
Is Huobi a Safe Option?
Definitely yes! Huobi has been around since a few years now and has gained huge popularity with its wider altcoin selections and higher trading security.
Huobi compared with other exchanges
It charges the lowest trading fees of 0.1%
The exchange has support from more than 190 countries
Users get higher discounts when trading using BNB tokens
Trading fees range between 0.2% to 0.4%
Offer margin trading to traders and multiple payment methods.
Huobi exchange is available in more than 130 countries
Wider selection of altcoins and digital assets over 600 in number
It offers rewards for making trades: 0.05% as makers' fee
It caters to over 1 billion dollars trade volume every day
This website is for educational purposes only. We recommend the best choices through thorough research of the market space. However, the website does not provide any financial advice for crypto investment. If you need such assistance, you must consult with the concerned team.
Getting to understand the risks associated with cryptocurrencies would help you make the right decision. Hence, connecting with financial or investment professional is what you must seek before starting crypto trading. Invest as much as you can afford to lose.
Once again, our team only provides a list and comparison for top exchanges. We do not guarantee any profits with trading cryptos. Also, BitcoinDenmark24 isn’t a legal advisor for trading needs.
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