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Huobi Review

July 6, 2022

Huobi is a digital asset exchange that operates in the Asian market. It is also a digital currency trading platform, specializing in cryptocurrency trading and mining. The exchange was founded by Chinese entrepreneur and angel investor Ella Zhang. Huobi launched its beta version in February 2018 which became fully operational in March of the same year.

Huobi Review
Huobi Review

As of July 2018, this exchange supports trades in 25 cryptocurrencies and over 400 coins are expected to be added by the end of the year. Huobi offers different trading pairs for specific cryptocurrencies.

People can either trade with BTC or ETH as base currency for their trades or purchase other cryptocurrencies using fiat money such as USD, EUR or JPY. Withdrawal fees are low at 0.1% on bank deposits but as high as 5% on other payment methods such as cash out via a bank transfer or credit card payment for example.

What’s the difference between Huobi and other exchanges?

Let's start with the distinctions between Huobi and other trading platforms. Huobi is a blockchain asset trading platform that specializes in crypto exchanges and mining, as well as an exchange.

Trading tools such as Huobi asset listing, Huobi asset indexing, Huobi trading robot, Huobi OTC trading, Huobi token swap, and Huobi Hedge Fund are among Huobi's features. Huobi also provides FX, margin trading, and the Huobi stablecoin. Singapore is the exchange's headquarters, with offices in Hong Kong and Japan.

The user interface of Huobi

Huobi offers a simple and straightforward user interface. It includes a cryptocurrency trading dashboard that shows current market prices and charts for all supported cryptocurrencies, along with percentage changes. It also offers an asset indexing feature, which displays the current value of all cryptocurrencies listed on the exchange, as well as their best and worst performance. Huobi includes a thorough trading tutorial that covers everything from how to set up a trading account to how to receive money, trade, and withdraw funds.

Huobi Cryptocurrency Exchange Fees
Huobi Cryptocurrency Exchange Fees

Huobi Pros

  • Low fees - Huobi has no trading or withdrawal fees for users who deposit funds or withdraw funds via bank transfer. Huobi offers trading fees as low as 0.1%. It also offers zero trading fees for traders who use the Huobi token (HT) as collateral. Huobi has competitive trading fees. 
  • Easy-to-use - Huobi’s user interface is simple and easy to navigate, making it a great exchange for beginners. Trading is also straightforward, with clear charts and markers that make it easy to understand prices. 
  • Wallet service - Huobi offers a free mobile wallet service that allows users to store cryptocurrencies, including ERC-20 tokens. The wallet enables users to create multiple addresses and view transaction history, including total and unconfirmed transactions. 
  • Trading bots - Huobi’s trading bots let users automate their trading strategies, optimizing their portfolios with technical indicators. Huobi’s bot platform supports more than 25 trading bots.

Huobi Cons

  • Limited digital assets - The Huobi exchange only offers trading in 25 cryptocurrencies, which is fewer than some other exchanges. Huobi also only offers trading in four digital assets: BTC, ETH, USDT, and NEO. 
  • Low trading volume - Some people have expressed concern about the low trading volume on Huobi, which is ranked among the lower exchanges in terms of daily trading volume. 
  • Limited assets - Huobi offers a relatively limited number of trading pairs, including BTC and ETH, USDT and BTC, and NEO and GAS. 
  • Limited payment method options - Huobi has a relatively limited number of payment options. Huobi does not support credit card payments, which is a significant limitation for some investors.

How to deposit funds into Huobi?

Huobi offers several methods for users to deposit funds into their Huobi accounts. Huobi has two tiers of funding. The first tier requires users to trade 500,000 tokens during the public test period. The second tier requires users to maintain a trading volume of 200,000 tokens.

How to withdraw funds from Huobi?

Huobi provides a diverse range of withdrawal options. Bank wire, SEPA, and credit cards are the most prevalent methods. Huobi also provides mining withdrawals in BTC, ETH, and credit card.

For different withdrawal destinations, there are two withdrawal choices. Investors can withdraw to Huobi's own wallet address using Huobi's internal withdrawal mechanism, which is a safe and secure approach. Investors can transfer their cash to other exchanges' wallets via external withdrawal, which is convenient but exposes them to new risks.

Huobi charges a one percent withdrawal fee. Huobi also maintains a daily trading volume rating, which ranks the most active exchanges in terms of volume. Huobi is one of the most popular cryptocurrency exchanges in the world.

Trading fees for Huobi

The trading fees charged by Huobi are determined by the amount of money entered into the account. Trading fees are lower when little quantities are deposited, but higher when large amounts are traded. It also functions as a cryptocurrency trading and mining site.

Trading tools such as Huobi asset listing, Huobi asset indexing, Huobi trading robot, Huobi OTC trading, Huobi token swap, Huobi Hedge Fund, and Huobi have a clean and easy-to-navigate interface are among Huobi's features. It includes a cryptocurrency trading dashboard that shows current market prices and charts for all supported cryptocurrencies, along with percentage changes.

Huobi Forex Trading
Huobi Forex Trading

Conclusion

Huobi also offers forex trading, margin trading. Huobi has a comprehensive trading guide that provides an overview of how to trade on the exchange, along with guides on how to set up trading accounts, how to get funding, how to trade, and how to withdraw funds. Huobi has a daily trading volume ranking that ranks the most active exchanges by volume.

Huobi is among the top exchanges in the world by daily trading volume. Keep in mind that Huobi's trading costs are proportional to the quantity of money in your account. Huobi maintains a daily trading volume rating, which ranks the most active exchanges in terms of volume.

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