Huobi is a Singapore-based exchange that specializes in customer service and independent cryptocurrency analysis. Huobi was established in 2013 and is still centered on the Asian market. Since its inception, Huobi has accumulated more than US$1 trillion in turnover and was once the world's largest digital asset trading platform with a global share of 50%.
With the support of ZhenFund and Sequoia Capital, the Huobi Group has invested in more than a dozen upstream and downstream companies. Established many compliance service teams in Singapore, the United States, Japan, Korea, Hong Kong, Thailand, Australia and other countries to provide secure and reliable transaction and asset management services to millions of users in more than 130 countries. Accessible by iOS, Android, Windows and Mac platforms. All functions are supported.
Registration & Verification
Huobi account creation is relatively simple. When registering, you will first be asked to choose your country of origin. Once selected, you cannot change it. They have the ability to conduct business in more than 130 countries. However, it is currently not open to US users.
The username you choose can be a phone number or an email address. Huobi warns that email address verification may be incorrectly marked as spam, so after creating an account, it's important to check your spam folder to see the verification email.
Once you have created your account, verified the email and then logged in for the first time you are presented with a welcome screen which offers you the choice of purchasing some cryptocurrency with Chinese Yuan (CNY), US dollars (USD) and Singapore dollars (SGD) using their OTC service or transferring some which you already own to the exchange.
If you want to verify your Huobi account and significantly increase your withdrawal limit, then you must complete some KYC. In order to do this, they need some personal identification.
Once you have submitted your verification to Huobi, they must have someone manually check your files. This means that it takes at least 24 hours to verify these files. This is consistent with the practice of other exchanges.
Huobi offers nearly 266 crypto assets, including 88 ETH-priced pairs, 95 BTC-priced pairs, 38 priced in USDT, and over 42 on its Huobi Autonomous Digital Asset Exchange (HADAX) platform.
- 240+ more
- US dollar (USD)
- Chinese Yuan (CNY)
Huobi takes cryptocurrency security expertise to a new level. Global financial giant Goldman Sachs assisted exchanges in security and risk control, and the exchange itself used HT token to set up an investor security fund. This stand-alone cryptocurrency analysis system is designed to prevent potential malicious coins from being traded on the exchange's main site. In addition, Huobi benefits from the inherent security of the Decentralized structure and anti-DDOS protection system.
The cost itself is simple, and for all assets, the cost of the maker and the taker is 0.2%. When you compare it to Bitstamp and Coinbase, this is actually quite low, Bitstamp is 0.25% or Coinbase is 1.49%.
In addition, Huobi offers discounts to members of the VIP trading group. For example, if you are a first-level member of a VIP trading group, you can get a 10% commission. For those who belong to VIP5, this percentage has been reduced to 50%.
- Global Business Development: They have now established compliance teams in Singapore, Japan, South Korea, Hong Kong, Thailand, Australia, the United Kingdom, Luxembourg and other countries and regions.
- OTC Trading: The OTC, or over-the-counter, this section of Huobi offers potential buyers and sellers a way to move large quantities of coins without exposure to the fickle exchange market. Certified merchants can register here, and slippage can be minimized by matching buyers and sellers directly instead of creating market orders.
- Margin Trading: Huobi also offers Margin Trading. Margin Trading is different from the basic exchange. The funds borrowed from the broker are used to trade a specific cryptocurrency, and the cryptocurrency is used as a collateral for the broker's loan. You can do both long and short. This has the potential to amplify gains and losses and is therefore only recommended for experienced professional traders.
- Pre-trade education programs for new users
- Access to a wide range of digital coins and tokens
- Competitive fees
Huobi brings some of the much-needed expertise to the field of cryptocurrency. Its basic trading tools are easy to use and easy to understand. Impressively, Huobi has established a reserve fund to act as an insurance in any hacking or unforeseen attack. This is what more exchanges should do, and what they are actually doing. Regrettably, the huge potential investor base in the United States is currently unable to take advantage of this platform.