Founded in 2013, Huobi Global is one of the world’s most experienced and trusted cryptocurrency exchanges.
But with so many crypto exchanges in the industry, is Huobi worth checking out?
In this article, we’ll be taking a closer look at the exchange to find out just how good it really is.
What is Huobi Global?
Huobi Global is an international cryptocurrency exchange that offers professional trading tools. With nearly 350 cryptocurrencies available for purchase, sale, and trading, the exchange has plenty to offer to all users.
Users also have access to over-the-counter (OTC) trading, trading bots, leverage and futures trading, and the option to stake cryptocurrency assets in exchange for rewards. Additionally, it provides loans secured by your cryptocurrency holdings.
It is one of the biggest international exchanges with affordable trading costs. This makes it a great platform for intermediate and experienced traders as well as institutional investors.
Huobi global was founded in 2013, has had 0 security incidents and is the 10th largest exchange by volume. They have a doxxed team and a 20,000 BTC security Fund. With over 10 million users and 500 coins Huobi is a great choice for crypto trading.
- 20000 BTC Security Fund
- Over 10 Million Users
- 500+ Crypto Options
- Not available in US
- .06 BTC daily withdraw for no KYC
In which countries is Huobi Global restricted?
While the platform is widely available, there are partial or complete restrictions on users from some countries.
Users from the United States of America, Canada, Japan, Cuba, Iran, North Korea, Sudan, Syria, Venezuela, Singapore, and Crimea are banned from using any service on the platform.
On the other hand, users from Mainland China, Taiwan China, Hong Kong China, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Krygyzstan, Sevastopol, Spain, and the United Kingdom (retail users only) are banned from trading in derivatives on the platform.
You can find more details in the User Agreement.
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Which cryptocurrencies are available on Huobi Global?
Huobi Global provides customers with one of the broadest selections of cryptocurrencies available on a centralized exchange. It provides access to more than 350 cryptocurrencies. So, popular cryptocurrencies including Bitcoin(BTC), Ethereum(ETH), Ripple(XRP), Dogecoin(DOGE), and Polkadot(DOT) can be found on the platform. Additionally, fresh cryptocurrencies are frequently added. You may read Huobi’s complete list of supported assets to know more.
Additionally, there’s the Huobi Token (HT) that can be used for fee discounts.
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What is the trading experience like on Huobi Global?
Huobi Global provides a sophisticated trading environment with limit and stop orders, interactive charts, and margin and futures trading, among other features.
Users that are into margin trading have access to a lesser selection of cryptocurrencies. But they can utilize up to 5x leverage. Huobi Global provides the option to participate in perpetual swaps, a sort of derivatives transaction, or to short or long trade supported cryptocurrencies when engaging in futures trading.
What services does Huobi Global offer?
Huobi Global is a feature rich crypto exchange that offers:
An Extensive List of Trading Pairs
Huobi offers a huge selection of digital currencies that may be traded, similar to many other exchanges. Huobi prioritizes projects from Asia more than any other region in its extensive list of cryptocurrency pairs. It is also regarded as the greatest cryptocurrency trading location for more up-and-coming enterprises from Singapore, Korea, and China for the same reason.
User Protection Fund
Huobi invests its profits in its “User Protection Fund,” which is like an insurance policy to protect users against thefts, hacks, or other unanticipated events that may harm their wallets. So, it’s like Binance’s SAFU. This is great for users since it gives them the peace of mind that their money will be returned if things go south.
Derivatives and Margin Trading
Huobi’s founders understood that offering a trading platform for cryptocurrencies alone is not enough. In order for the exchange to remain relevant in the crypto industry, it needed to give more. As a result, Huobi introduced its own derivatives products for the futures and swap markets.
Huobi concentrated on margin trading shortly after releasing its derivative products, and today it is one of the market leaders supporting C2C and margin lending.
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Institutional Trading Accounts
Huobi has drawn institutional traders and investors from across the world. It has established a distinct trading desk that engages in both OTC and dark pool trading in order to serve the requirements of these institutional traders.
Smart Chain analysis gives customers access to more than 50 different trading indicators as well as information on different blockchain assets.
Through the Huobi API key or the REST API, Huobi Global’s users are able to program their trading bots through 3commas. But the users must first generate their unique API key (which they should keep private) before they can start trading with the Huobi API.
What fees does Huobi Global charge?
General Tiered Fee Structure
|Type||Level||30-day trading volume (BTC)||Base fee rate||HT holdings||Fee Rate (in HT)||Effective Discount|
|Normal use||1||< 1000 BTC||0.20%||≥10HT||0.18%||10%|
|Normal use||2||< 1000 BTC||0.20%||≥100HT||0.16%||20%|
|Normal use||3||< 1000 BTC||0.20%||≥500HT||0.12%||40%|
|Normal use||4||< 1000 BTC||0.20%||≥1,000HT||0.09%||55%|
|Normal use||5||< 1000 BTC||0.20%||≥2,000HT||0.08%||60%|
|Normal use||6||< 1000 BTC||0.20%||≥5,000HT||0.07%||65%|
Professional Trader Tiered Fee Structure
|Type||Level||30-day trading volume (BTC)||HT holdings||Maker||Taker|
|Professional Users||1||≥700 BTC||≥2,000 HT||0.0362%||0.0462%|
|Professional Users||2||≥1,000 BTC||≥2,000 HT||0.0294%||0.0420%|
|Professional Users||3||≥3,500 BTC||≥2,000 HT||0.0294%||0.0378%|
|Professional Users||4||≥7,000 BTC||≥2,000 HT||0.0252%||0.0336%|
|Professional Users||5||≥10,000 BTC||≥2,000 HT||0.0224%||0.0308%|
|Professional Users||6||≥15,000 BTC||≥2,000 HT||0.0210%||0.0294%|
|Professional Users||7||≥30,000 BTC||≥2,000 HT||0.0168%||0.0252%|
|Professional Users||8||≥60,000 BTC||≥2,000 HT||0.0126%||0.0210%|
|Professional Users||9||≥100,000 BTC||≥2,000 HT||0.0097%||0.0193%|
How secure is Huobi Global?
Huobi has strong security procedures in place. Having been founded in Singapore, it is only natural. After all, the country has cutting-edge cryptocurrency laws that encourage several blockchain firms. It offers a variety of security measures to protect user accounts. This includes two-factor authentication that works with both SMS and Authenticator apps.
And to further improve security for its users, Huobi maintains client assets in multi-signature cold wallets. It has a 20,000 BTC Security Reserve Fund that was created to handle extreme security mishaps.
But for better security, you could look into hardware wallets.
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Does Huobi require KYC?
While you can trade on Huobi without KYC, the following limitations would apply:
|Complete Registration||Complete ID Verification||Complete Advanced Verification|
|Exchange||Digital Assets Withdrawal Quota: 0.06 BTC/24h||Digital Assets Withdrawal Quota: 100 BTC/24h||Digital Assets Withdrawal Quota: 100 BTC/24h|
|P2P||Single or Total Trade Volume Quota: 156 USD (Est.)||Single Trade Volume Quota: 313 USD (Est.) or Total Trade Volume Quota: 1569 USD (Est.)||No Upper Limits|
|Derivatives||Not Available||No upper limits if activating all Derivatives accounts||No upper limits if activating all Derivatives accounts|
What are the Pros & Cons of using Huobi Global?
- High liquidity
- Large number of supported cryptocurrencies
- Yield-generating opportunities
- Low trading fees
- Professional trading tools
- Mobile app
- 24/7 live chat support
- Wash trading accusation of 2019 doesn’t paint the platform in a good light
- Mostly unregulated
- Not beginner-friendly
- Not available in the US and a lot of other countries
Huobi Global Rating
Team – 9/10
Huobi Global has a team of seasoned professionals.
Security – 9/10
With anti-hack systems and cold wallets that store 98% of the crypto on the platform, Huobi Global ranks high on security.
UX – 8/10
While the platform isn’t exactly beginner-friendly, it has many features that make the trading experience great for experienced traders.
Features – 9/10
The platform has features both beginners and experienced traders can benefit from—and it has a lot of them.
What is the Huobi Token (HT)?
The Ethereum-based Huobi Token (HT) is the native token of the Huobi platform. The token wasn’t released through an ICO.
The thing is, that is normally how the introduction of native tokens goes in the blockchain space.
It was instead given out to account holders as a loyalty scheme. Holders of HT tokens can vote for new tokens to be added to the alternative HADAX platform or pay for service fee bundles.
With HT, customers have the option to cut the exchange’s crypto trading fees in half, participate in a number of IEOs, and vote on exchange governance issues. Further, using HT to lower fees on Huobi is simple.
To use HT tokens for trading fees, users simply need to keep them in their preferred cryptocurrency wallet. They then need to choose the option from the token setup page for trading fees. So, they can now take advantage of large reductions on the usual trading expenses.
Additionally, customers have access to VIP memberships that they can reserve to lower the same prices by up to 65 percent.
Huobi Global is an amazing platform for trading crypto. With a strong team, great security, and useful features, it is an almost easy recommendation. The only thing that takes some points away is the UI/UX which is great, but a bit challenging for beginners.
With this article, we’ve explored what’s in store for you on Huobi Global. Happy trading!