Review: Huobi Global Exchange
Huobi is one of the top leading global exchange companies, especially in Asia, based on ranking and positive user rating. From their database statistics, Huobi Global Exchange has recorded over $26 billion in trading history.
The exchange supports the trading of top cryptocurrencies such as BTC, LINK, ETH, LTC, BCH, etc. Because of the numerous coins available on this platform, traders can comfortably buy, sell and trade different coins of their choice and even swap some coins for others.
The Huobi Global Exchange is a part of the Huobi Group which focuses on empowering financial freedom to citizens from every nation. One of the most interesting features of Huobi Global Exchange is that they attract global investors into their platform, and this increases the broker’s chances of earning more profit daily.
The bonus ability for users to swap from one cryptocurrency to the other is another feature that makes the cryptocurrency exchange very unique compared to its competitors. This also maximizes traders’ profit as they can easily trade coins that are rising subsequently by swapping their already existing coins to the trending coin.
When it comes to encountering challenges that affect some other cryptocurrency exchange platforms, Huobi Global Exchange supports multiple languages which are available in their platform. In terms of their website design and functionality, the crypto exchange has a fast, responsive, and user-friendly website with an excellent GUI.
You can also access Huobi Global Exchange with their mobile app which is on both the Google Play Store as well as the Apple Store. This enables users to maximize all the features of these platforms without having to face browser incompatibility.
Huobi Global Exchange History
Huobi Global Exchange was founded in 2013 to satisfy the needs of brokers who desired more advanced features for easy trading.
The exchange became popular in 2016 (3 years after it was founded), recording a milestone of 1.7 trillion CNY in trading volume (according to statistics). This attracted the attention of traders and investors and also motivated most of them to trust the crypto exchange.
Huobi Global Exchange offers over 900 crypto trading pairs on the platform.
Huobi Token (HT)
The Huobi Token is the native governance token of the Huobi global exchange platform. It is a decentralized digital coin developed on the Ethereum Blockchain, meaning it is an ERC 20 token. The token serves two major purposes;
First, it is used for the platform’s loyalty program that rewards members with a range of discounts. The HT also gives users voting rights on the Huobi Autonomous Digital Asset Exchange (HADAX). To achieve that, the exchange tried to stabilize the value of the HT.
The Huobi token gives holders numerous advantages like; reduced transaction fees, convenient means of exchange, promotion of new tokens and participation in decision making, etc.
Huobi Global Exchange GUI
Huobi Global Exchange has one of the best user-friendly interfaces out of all the other cryptocurrency exchange platforms out there. With the features that can be found on their platform, novice traders can easily navigate their way through buying and selling cryptocurrencies on the exchange.
The exchange also provides a “trading-view” function, which enables users to plot their favorable indicators directly from the platform.
Huobi Global Exchange Functions and Features
- Flexible payment methods
- More than 900 crypto trading pairs
- Powerful and responsive mobile app for on-the-go trading
- Low trading fees starting from 0.2%
Cryptocurrencies Supported by Huobi Global Exchange
Huobi Global supports the following cryptocurrencies; USDT, ETH, BTC, BTT, XRP, ADA, DOGE, USDC, LTC, MATIC and EOS, etc. To see the full list of all the cryptocurrencies supported by Huobi Global Exchange, click here.
These coins can even be traded with each other through swapping!
As well as staking, the exchange also provides staking pools where traders can stake their crypto to earn some decent rewards.
Huobi Global Exchange’s Accepted Payment Methods
Huobi Global Exchange further encourages traders to use their platform by supporting more than 50 fiat currencies which traders can utilize for payment purposes (depending on the country).
Some of the currencies supported by the exchange platform are USD, CAD, CNY and HKD, etc.
Since there are a lot of countries with local currencies that are not on the list of the supported currencies on the platform, traders from these countries can use cryptos to trade on this platform.
These affected countries can use cryptos like BTC, ETH and USDT, etc. to effectively trade on the platform. When purchased, they can easily swap them for other altcoins available on the platform.
Huobi Global Exchange Trading Fees
Huobi Global Exchange has a very low trading fee that is attached to the transactions carried out on the platform. The exchange charges a 0.2% market maker and 0.2% market taker fee. It’s free to deposit cryptos while withdrawal attracts a fee of 0.0004BTC. If it is a stablecoin, it will depend on the withdrawal amount. Some withdrawals attract a fee of around 25 USDT.
Pros
- Support for major crypto assets such as BTC, ETH, LTC, etc.
- Amazing customer support service
- Quality GUI
- Low trading fees
- Over 900 trading pairs.
Cons
- Some currencies are not supported.
Huobi Global Exchange Competitors
Comparing Huobi to other cryptocurrency exchanges like Binance, Coinmama and Kraken, Huobi trading fees tend to be higher than these exchange companies listed above.
Huobi charges a trading fee of 0.2% while its competitors have an average trading fee of 0.1%.
One of the unique features that make Huobi stand out among its competitors is its derivative markets. Huobi’s regulation levels are also stronger than its competitors.
But we must remember that everything that has advantages also comes with disadvantages. Huobi may be perfect in some trading aspects while its competitors will be excellent in others.
How Do You Start Trading with Huobi Global Exchange?
Have you been inspired by the amazing details that you’ve read about Huobi Global Exchange? Do you want to begin your trading journey with Huobi Global Exchange?
Then follow the guide below to start up your trading career with Huobi Global Exchange.
Register on the Crypto exchange: the first thing you will need to do is to create a trading account with Huobi. Given their amazing user-friendly interface, you can sign up in less than a few minutes.
Complete your Account verification: complete your Know Your Customer (KYC) verifications, which include ID verification.
Get The Huobi App: if you don’t like operating cryptocurrency websites with your browser (probably because of security reasons), you should download their app for easy trading.
Fund your trading account: when you have completed the registration, you can proceed to fund your account. You can fund your account anytime you wish to do so. There is no minimum deposit on the platform. You can purchase cryptocurrencies using your credit/debit card or you can buy cryptocurrencies like BTC and trade it for a token of your choice. You can also transfer BTC from another crypto exchange and convert it to another coin on the exchange.
Trade your cryptocurrencies (buy/sell): once your trading account has been activated and you have funds in it, you can start trading your favorite cryptocurrencies. We recommend that you check the charts of each currency you wish to trade to ensure that your profit will not be at risk.
You can also browse some of the recent crypto news before diving into purchasing those coins.
Huobi Global Exchange Customer Support
In terms of customer service, Huobi has good staff who are ready to assist you if you encounter challenges while trying to perform certain operations on the platform.
If you decide to close your trading account, or maybe you want to ask questions, their customer support service is open 24/7; so, time will never be a barrier while trying to contact Huobi’s customer service. They also offer a live chat feature on their platform.
