|Exchange Name||Huobi Global|
What is Huobi Global?
Huobi is a Chinese exchange platform that is one of the largest in the world. Its headquarters are in Beijing, China. Leon Li founded the trading platform in September of 2013, and the company focuses on the Chinese market.
Huobi, which has been operating in the cryptocurrency industry since 2013, is one of the leading cryptocurrency exchanges situated in Asia and caters to Asian audiences. Huobi Worldwide, the company's global crypto exchange, has lately undergone significant branding changes, and currently, its primary offering is Huobi USD, a stablecoin backed by US dollars. It also offers a wide range of altcoins and stablecoins and its invention, Huobi Global.
Huobi also has a token, the Huobi Token (HT). They aim to advertise as a utility token and try hard to promote its use for things like competitions, fee discounts, and voting on particular issues.
|· Its trading platform is quite impressive
· On the leading exchange, over 100 cryptocurrencies and tokens are supported; alternatively, the HADAX exchange lists altcoins that are voted on.
· Cybersecurity is at the highest level
· Excellent client service
|· Deposits and withdrawals in fiat currency are not supported.
· Registration for an account takes a long time.
10 Points Summary:
|Platforms||MT4, MT5, cTrader|
|Instruments||140 financial instruments available, supports a wide range of cryptocurrencies|
|Major Forex Pairs||Yes|
|Demo Account||One can sign-up with a demo account to get oneself used to this platform|
|Minimum Deposit||$ 100|
|Base currencies||Many base currencies|
|Education||Educational tools for trading and other resources|
|Customer support||Live chat, email chat 24/7|
On several occasions, Huobi declares several awards for their trading partners to encourage them in their trading activities. A few of them include announcements like Premier VIP programs, over 1,000,000 U SD awards and giveaways of gifts, friend's referral programs to share $50,000 and many more.
Is Huobi safe or a scam?
Huobi, like OKEx and Bit-Z, is one of the largest crypto exchanges in terms of trade volume. It was designed with the Chinese market in mind, but it has grown to over 130 nations.
It's also one of the oldest, having been founded in 2013. Huobi Global, Huobi's parent company, has offices in Japan, South Korea, the UK, Canada, Australia, Hong Kong, and Brazil.
Huobi Token (HT) is a cryptocurrency that Huobi launched in January 2018. It is one among the top 100 currencies by market capitalization according to Coin Market Cap.
The regulatory status and administrative body, such as Huobi, are highly significant factors to consider when picking one. Brokers who trade without the oversight of a regulating organization are doing so at their own risk. Likewise, any money you put up is at stake.
|· Clients from all over the world can access the site.
· The Financial Services Agency (FSA) of Japan regulates this platform
· It has a wide range of trading products,
· It requires a minimum of US$100.
|· There are no investing schemes for passive income,
· There are few options to contact customer service.
· In exchange liquidation, clients' financial assets are not secured by segregated accounts or compensation payments.
Is Huobi a legit company?
Huobi is a Singapore-based company that was founded in 2008 and has been in existence for 13 years.
Huobi is a regulated platform. This implies Huobi is regulated by the FSA or Financial Services Agency in Japan, and its behaviour is monitored.
Regulated brokers will not manipulate market prices. Therefore, Huobi will honour your withdrawal request if you submit it. However, Huobi's regulated status could be revoked if they break any regulatory rules.
How are you protected?
Huobi Wallet is a multi-chain light wallet designed for professionals. Huobi Wallet protects the security of the assets of worldwide users from numerous dimensions. Furthermore, it offers DAM or Digital Asset Management services that are secured, convenient, and simple, based on the Huobi Group's combined security knowledge and technology development in the field of blockchain.
Huobi Wallet's new, improved version offers a user interface design that is more professional. For example, on the app's home screen, one can browse different assets and make quick payments and transfers.
Besides the leading eight coins (BTC, EOS, ETH, USDT, TRX, etc.) already included in the app, users can add their preferred currencies. In addition, Huobi Wallet allows you to search for any ERC20 tokens, making asset management more comprehensive and convenient.
Users of Huobi Wallet have complete control over their private keys and, as a result, their assets. The private keys' management is done without the involvement of any other parties. Users can export private keys and control the security of their assets using wallet management backup mnemonics. They can also change the wallet's name, hide it, and change other settings as per their preferences. Everyone's user experience is designed to be intimate.
Huobi Wallet has a rapid exchange feature that allows you to switch between chains and swap different coins. Under the present exchange rate, users can easily and swiftly conduct transactions using their preferred digital currencies.
Besides an enhanced security system explicitly designed to safeguard your assets, the Huobi team has developed a dedicated keyboard to ensure that your data is secure.
Huobi Wallet Security Team ensures the security of your assets alongside data encryption, security isolation, and other patent security technologies.
Thus the Huobi Wallet team is constantly working to improve the quality and professionalism of its digital asset management services.
Accounts and their types:
There are mainly three types of accounts offered by Huobi. These include:
- Mini account
- Standard account
- Islamic account
Each of the accounts has its different features and enables the users to with varying options of trading. As a result, trading in Huobi is convenient, and thus they are quite a popular trading platform.
|· Digital and quick opening of accounts
· Three different types of accounts
· Numerous options for trading
· Not a high minimum deposit
|· No such major drawbacks|
How do I open a Huobi account?
You should go to Huobi's sign-up website if you wish to open an account and start trading there. To establish an account on Huobi, all you need is a functional email address.
They'll send you an email along with a code for verification which you'll need to log back in once you've completed the form. Then Huobi has a fantastic beginner's guide that will walk you through everything the site has to offer.
They'll spotlight the features of every exchange before giving you a quick rundown of what they're all about.
Opening an account step by step:
- To access the website, go to https://www.huobi.bi/zh-cn/
and log in.
- On the website's top-right corner, click "Sign up."
- Select your country (please note that some locations do not allow the provision of digital assets derivatives services), enter your mobile phone number in the "Phone" blank, create a password, and lastly, click "register" (For instance, mobile registration)
- To complete registration, enter the verification code.
- Please double-check that the registration country is correct. Otherwise, no changes are permitted;
- For account registration, only one email address or phone number/ may be used.
- If you register by email, please check your spam folder if the verification code email was automatically classified as spam.
- If you already have a Huobi Global account, you do not need to register for Huobi Futures. Instead, please go to https://www.huobi.bi/zh-cn/ and begin trading.
- Before registering, please read the User Agreement carefully.
Verification on Huobi:
You will need to do some KYC if you want to authenticate your Huobi account and dramatically enhance your limits of withdrawal. But, of course, they'll need some form of personal identity to do so.
This is done by exchanges to combat the possibility of money laundering, and it is becoming the norm, with numerous exchanges making it a requirement. Unfortunately, while crypto users are naturally concerned about their privacy, there appears to be no straightforward solution around this.
Given Huobi Global's size and scope, it's doubtful that they'll ever do something irresponsible with your personal information. As a result, sending your ID to Huobi may be relatively risk-free in terms of identification documents.
Huobi must have someone carefully review your documents after you have filed your verification. This means that verifying the documents will take at least 24 hours. This is roughly in line with other exchanges and what other traders claim in internet forums.
- Huobi withdrawal fees vary depending on the manner of payment.
- Inactive Huobi accounts are subject to a fine.
- Huobi charges deposit fees.
Online trading platforms, financial research tools, mobile trading apps, and educational resources are all available from brokers. However, for a brokerage to continue providing these services and generating income like a business, Huobi charges fees. As a result, brokers may charge clients a variety of trading fees, which you should be aware of because they may impact your profits.
Let's take a close look at different kinds of fees charged by Houbi:
Fees for Huobi withdrawals:
Huobi withdrawal costs vary based on the withdrawal method you choose. In addition, each broker has its own set of withdrawal restrictions that govern how you can get money out of your trading account.
This is because each brokerage business will have different options for withdrawal, and each payment provider may charge additional transfer processing costs, have varying processing timeframes, and charge a currency conversion fee. The conversion cost is determined by the following factors: your base currency, receiving currency, and a payment provider.
Huobi, for example, allows withdrawing funds in Bitcoin.
Huobi Inactivity Fees:
Inactive Huobi accounts are subject to a cost. The registered brokerage client is charged an account inactivity fee. In addition, clients may be required to meet particular trading activity requirements by brokers as part of the account's terms and conditions.
If a client's trading account is inactive for a length of time as determined by the broker, an inactivity fee may be charged.
Online trading accounts are not exempt from inactivity penalties. In addition, inactivity fees may be charged by many financial service providers. Please review the broker's website to ensure that you are aware of and satisfied with all of the services and costs that may be paid to you.
Close your trading account with the broker's customer service if you are no longer utilizing it. Also, make sure you have documentation that any outstanding costs are not owed to you.
Only under particular situations, depending on the sort of account you signed up for, can you be charged an inactivity fee. Any inactivity fees must be fully disclosed as part of a broker's regulation.
To compensate for the lack of commission revenues from your trading, certain brokerage firms may levy inactivity fees to compensate for retaining your account on their pricey trading platforms.
Fees for Huobi Deposits:
Huobi Global charges deposit fees. Therefore, when depositing funds from your payment method to your trading account, you should always check the deposit costs since certain brokers may impose a fee.
This is due to the possibility that the payment method you select to fund your account will incur a cost. For example, when you deposit a specific fiat currency into your account, you may be charged a fixed fee. When making deposits from a credit card, for example, prices are well-known to be exorbitant. If your broker allows you to fund your account with a credit card, this is an option.
Commissions on Huobi:
On CFD instruments, Huobi charges a commission. A broker may charge a commission fee as a service fee for enabling the purchase and sale of financial assets using the trading account you have.
The majority of a brokerage's revenue may come from commission fees charged to registered traders on client transactions.
Commission rates vary depending on the style of trade, the type of financial instrument, and the size of your trading account.
If the brokerage fulfils, cancels, or adjusts an order on your behalf, you will be charged a brokerage commission.
If your brokerage fails to fulfil a market order, you will typically not be charged a commission.
Be advised that your brokerage may impose a commission fee if your transaction is amended or cancelled.
With Huobi, you can have a demo account to experiment with before starting your main trading account. This is a good option for you to know how it works before you begin to put your funds on it.
Deposits and Withdrawals:
There are different deposit and withdrawal options supported by Huobi Global, which is another top feature of this exchange platform.
You can deposit amounts in a wide range of currencies. The different deposit options include:
- Credit cards
- Wire transfer (BTC, EOS, ETH, USDT, TRX, etc.)
- Different E-Wallets
What is the minimum deposit on Huobi?
If you are depositing in USD, the minimum deposit amount at Huobi Exchange is 100 USD.
The process of depositing your Huobi trading account is given below:
- Visit the Huobi trading page and log in to your account
- Visit the Balance->Exchange account
- Choose the 'Deposit-Exchange', search for the currency you prefer depositing and then click on 'deposit.'
- A pop-up window will appear for ID verification if you haven't verified your ID yet. Complete the verification process
- After your verification process is complete, select the Card you want to make payment with (MIR/MasterCard), fill in the deposit amount you wish to deposit and hit 'Next.'
- Confirm all the details of your order, and click on the 'pay' button. You'll then be redirected to the payment page.
- Fill in with the card details and hit the 'pay' tab
- After your payment is complete, return to the deposit page again and hit the "already paid" tab. You'll see that your order has been submitted.
How do I withdraw from Huobi?
Let's now take a look at the withdrawal process at Huobi:
- On the Huobi "Wallet" page, select the crypto you want to withdraw
- Choose the tab "transfer."
- Fill in with the amount you want transferring and then click on the 'transfer' button
- Go back to the 'wallet' page again and choose the 'withdraw' button on the upper corner (right) of the page
- Choose the digital asset you're looking to withdraw, such as Etherum, Bitcoin, etc.
- Fill in the wallet address where you want the withdraw, key in the amount and hit 'withdraw.'
Process for Reconsidering Withdrawals:
- The system may perform ID verification checks when users withdraw money to a new address. Withdrawals will be permitted only after verification in this case. Failure to pass the verification will result in a manual review.
- Withdrawals may be made with or without manual review if the destination address has previously been verified, depending on the transaction risk level. The withdrawal will be subject to manual review if the system finds an anomaly in the account.
- Customer service representatives will conduct an account review through different channels, including, but not limited to, a phone or video conversation with you to authenticate your identity.
- Don't tell anyone your password, SMS codes, or Google Authenticator codes.
How long does it take to withdraw from Huobi?
The withdrawal request must be carefully reviewed. It will be finished within one hour after initiating the withdrawal. After the review is completed, STCOINS Bank Transfer Processing will be carried out in real-time. The time it takes for the money to arrive at the bank is determined by the time it takes for the money to be transferred between banks.
The withdrawal fees vary at Huobi based on the different payment modes.
Huobi launches a friend's referral program that enables you to get a $170 bonus, and you'll get a 30% commission. Only new users are eligible for the welcome incentive.
How do I claim my Huobi bonus?
One must complete new user chores within 15 days of enrolment, and the bonus can be claimed within 30 days. After finishing each activity, users must redeem the bonus one by one.
Huobi offers over 140 cryptocurrency trading options and several account features, making it a pretty popular exchange platform.
Huobi Trading Platforms:
Huobi has both web trading platforms and also IOS and Android-supported mobile applications.
When you first log in, you'll discover that you have the option of choosing between the Huobi OTC markets, the stock exchange, or the margin trading exchange. Users can also select the HADAX platform, which is where coin listings are voted on.
You can choose the Huobi pro exchange if you only want to purchase or sell Bitcoin. This is your typical cryptocurrency exchange, where you can make orders and trade coins using the balances in your wallet.
At the bottom of the exchange, you'll get a breakdown of the coin as well as helpful links, just like on their coin overview page.
This is a Trading View chart in terms of the trading chart. This is third-party technology, but it is among the best available. As a technical analyst or day trader, you have access to all of the specific tools.
In terms of the user interface, you can alter the currency in which all of your balances are shown, as well as the UI's colour. They can be black (as shown in the screenshot) or light.
Huobi Global's customer support is available in several languages: English, Hindi, Czech, Spanish, Chinese, French, German, Polish, Italian, Portuguese, Slovenian, Romanian, Hebrew, Russian, Arabic, etc. They offer live chat support, email support but no phone support. However, these services are usually quite prompt.
To trade efficiently with Huobi Global, you must first understand the platform's trading tools and marketplaces. Then, use all educational resources available to you. This contains both internal and external education tools from Huobi.
Huobi Global has a wide range of instructional resources. Take your time and become familiar with the operation of financial markets. Take the time to become familiar with your trading platform. Learn to buy and sell, learn how to get benefited from the worldwide trading times, and most importantly, understand how to mitigate and manage risk in your investments.
As always, Huobi announces competitions at regular intervals to motivate traders and impart learning regarding the trading platforms.
Huobi Global is continuously growing. As a result, there are not many criticisms that can be marked against Huobi Global. It is expected to become one of the most influential cryptocurrency exchanges globally over the next few years.