Huobi Global is a cryptocurrency exchange that offers professional trading tools but is not available in the US or Japan. This exchange offers over 350 cryptocurrencies to buy, sell, and trade, as well as access to margin and futures trading, trading bots, over-the-counter (OTC) trading, and using crypto assets to earn rewards. It also offers loans that you can borrow against your crypto holdings. As one of the largest global exchanges with reasonable trading fees, the Huobi Global crypto exchange is a great option for moderate and advanced traders, as well as institutional investors.
Huobi Global crypto exchange: Introduction
Huobi Global is an international cryptocurrency exchange that allows traders to buy, sell and trade cryptocurrencies. It also offers an opportunity to earn interest by staking crypto or pooling crypto to earn free crypto airdrops. Huobi Global supports over 350 cryptocurrencies, with more being added regularly.
We reviewed Huobi Global’s platform, fees, user experience, customer service, available cryptos, and more to see if it’s a good option for crypto investors and traders.
Huobi Global crypto exchange: Advantages and disadvantages
- Impressive trading platform
- More than 100 cryptocurrencies and tokens will be supported on the main exchange
- Alternative HADAX exchange listing altcoins to be voted on
- Cyber security at the highest level
- Strong customer support
- Fiat deposits and withdrawals are not supported
- The lengthy account registration process
Leon Li founded Huobi Global crypto exchange in2013, originally based in China. In 2017, following China’s crackdown on cryptocurrency exchanges, Huobi Global’s headquarters were relocated to Singapore and eventually the Republic of Seychelles. Huobi Global is available in most countries around the world but doesn’t support some countries including the United States and Japan (although users in Japan can use Huobi Japan instead).
Huobi Global offers crypto-to-crypto trading with a very wide range of supported assets and relatively low trading fees. The platform is designed for active traders and institutional investors and offers limit, stop and trigger orders as well as margin and futures trading. Institutional traders can access OTC trading desks, derivatives, and custom trading tools.
Huobi Global crypto exchange: Cryptocurrencies trading
Huobi Global offers access to over 350 cryptocurrencies, offering users one of the largest selections of crypto on one centralized exchange. Crypto offerings include popular options like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), and Polkadot (DOT). New cryptocurrencies are also added regularly, and you can check Huobi’s full list of support assets.
Huobi also offers its exchange token, Huobi Token (HT), and token holders can get fee discounts.
Huobi Global is available for cryptocurrency investors and traders in more than 190 countries around the world. According to Huobi’s user agreement, residents of the United States, Canada, Japan, Iran, North Korea, and Crimea are prohibited from using the exchange. This is due to strict regulations governing the provision of financial products and services.
The exchange recently restricted access to certain countries for futures and derivatives trading in response to China’s crackdown on crypto. According to a report, nobody from mainland China, Taiwan, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Sevastopol, and retail investors in the UK can trade these products. Investors in the UK and US need to find an alternative crypto exchange in the UK and US.
Huobi Global crypto exchange Trading experience
Huobi Global offers an advanced trading experience with interactive charts, limit and stop orders, and margin and futures trading.
For margin trading, users and traders have access to a smaller pool of crypto, but they can use up to 5x leverage during trading. For futures trading, Huobi Global offers the ability to trade supported cryptocurrencies long or short, or participate in perpetual swaps, which are a type of derivative contract.
Huobi Global crypto exchange Fees
Huobi Global crypto exchange offers relatively low fees for trading crypto, but higher fees for those looking to buy crypto with a credit or debit card. Fiat deposits (like US dollars) are free, but users pay trading fees.
Huobi Global Trading Fees
Huobi Global charges fees based on a maker-taker fee model, with rebates for high-volume traders and HT token holdings. You pay different fees depending on whether you are the maker or buyer of the transaction.
There are two fee structures for trading: one of them is for general accounts and one of them is for professional accounts. Professional accounts require very high trading volume (over 1,000 BTC every 30 days) as well as larger HT inventory (minimum 2,000 total). Here is a breakdown of each trading plan on Huobi Global:
Huobi Global crypto exchange security
Huobi Global uses standard and strong security features including two-factor authentication (2FA), cold storage, and identity verification. It also has systems to prevent DDOS attacks and keeps a reserve of Bitcoin (BTC) for any security breaches that result in lost customer funds.
Here are the details of some of the security features by Huobi Global:
- Cold Storage: Huobi Global stores 98% of users’ crypto assets in offline cold storage wallets that require multiple signatures. This keeps client crypto off the internet, away from potential attackers.
- Account Suspension: Users can initiate account suspension themselves if they suspect fraudulent activity.
- Two-Factor Authentication (2FA): Users can enable 2FA with Google Authenticator to further secure their account with a randomly generated 6-digit password.
- Bitcoin Reserve: Huobi has a reserve of 20,000 BTC in offline storage to repay users in case of an unforeseen cyber-attack.
Open a global Huobi account
Remember that you must be 18 years old and located in a supported country to open a Huobi Global account. New users begin the signup process by providing an email address and password. Once a user’s account has been verified via email, they will be asked to verify their identity by submitting personal information such as address and date of birth, along with a photo ID and a selfie. Verification can take up to 7 working days.
After verification, users can deposit funds or cryptocurrency and start trading. The Huobi also allows its customers to earn interest by staking crypto or depositing funds into a Huobi Earn account.
Huobi Global crypto exchange Customer service
Huobi Global crypto exchange offers customer service via email or live chat and is one of the few exchanges that offer 24/7 chat support on their platform. However, the live chat support is only available on the mobile or desktop app and not on the Huobi website. Users can also submit their phone numbers through the chatbot. They can do it on the website so that Huobi can contact them by phone directly.
Huobi Global offers a huge library of help articles, although they are poorly organized. It also provides educational articles and tutorials on its Huobi Learn platform, which is quite extensive.
Huobi Global crypto exchange Customer satisfaction
Customer reviews for Huobi Global crypto exchange are mixed. Some reviews report problems withdrawing funds and identity verification issues. This appears to be because Huobi Global allows users to deposit funds before KYC verification is complete – users cannot withdraw funds before fully verifying their identity. While customer support is responsive, users express frustration at having to repeatedly submit identification documents to gain access to deposited funds.
As with any crypto exchange, users should always complete account setup and identity verification before depositing funds into the exchange.
Huobi global crypto Exchange platform
The Huobi.Pro exchange platform is an impressive piece of technology and tops the traditional financial markets with the best trading platforms. Price feeds, charts, market depth data, and even profiles describing individual cryptocurrencies are all nicely laid out in the trading interface. The alternative HADAX market, which supports smaller alternative coins and tokens, also benefits from the same professional platform interface and functionalities.
One of the most impressive exchange platforms out there, Huobi Pro manages to strike the tricky balance of offering the functionality that seasoned traders want while remaining accessible for beginners. The exchange platform is available in Windows, Mac, iOS, and Android formats.
A particularly useful value-added function of the trading platform is the “Smart chain” analysis and research service. It provides insight and research on various Blockchain assets and over 50 different indicators.
Huobi global crypto Exchange markets
The wide range of cryptocurrencies and tokens supported between Huobi Pro and alternative exchange HADAX is impressive. Over 100 cryptocurrencies and tokens are listed on the main exchange, Huobi Pro, and although the alternative HADAX exchange is barely a month old, it can be expected to support the trading of hundreds of small altcoins and tokens soon.
Unfortunately, Huobi Pro and HADAX do not support fiat currencies due to regulatory pressure from mainland China, where many of the exchange’s users are still based. Tether‘s fiat proxies will use to ensure the price stability that fiat currencies can offer.
Huobi Global crypto exchange: Account management
Huobi Global crypto exchange allows users to buy, sell, and trade crypto through the website of any of the Huobi Global apps. Users can log in to their dashboard, deposit crypto or fiat funds, and buy crypto, spot or margin trades, or futures (e.g. perpetual swaps). Huobi Global also offers ways to earn crypto rewards through staking, depositing, or even pooling funds to earn airdrops of new crypto.
Huobi also provides a desktop app for Windows and mobile apps for iOS and Android devices. Users can log in to the app and access all the trading tools available on the regular website. The apps also have 24/7 live chat support which is not available on the website.
How Huobi Global compares to other cryptocurrency companies
Huobi Global crypto exchange is the sixth largest cryptocurrency exchange in the world (by volume). Huobi Global also offers margin and futures trading as well as reasonable trading fees.
It offers one of the largest selections of cryptocurrencies on any centralized exchange. And it also offers to lend against crypto assets. Huobi Global is not available in the US but supports most countries around the world. Here’s how Huobi Global compares to a major crypto exchange in the US.
Huobi Global vs Kraken
Huobi Global crypto exchange and Kraken crypto exchange both support margin and futures trading. Both offer low fees for high-volume traders, and both also cater to institutional investors with OTC trade desks.
Compared to Kraken, Huobi Global offers more crypto to buy and trade, including its native token.
Here are a few more differences between Huobi Global and Kraken:
- Kraken’s trading fees are a little higher than Huobi Global’s trading fees.
- Huobi Global supports more than 350 cryptocurrencies, while Kraken supports just more than 90.
- Kraken provides phone support during working hours, while Huobi Global does not.
- Huobi Global offers crypto pooling to earn rewards, while Kraken only offers to stake.
Huobi Global offers advanced crypto traders access to a wide range of crypto, as well as margin and futures trading with very low fees. But is not available to US users. Kraken, on the other hand, offers beginners an easy way to buy crypto, but the fees are relatively high. Kraken is also one of the few crypto exchanges that offer US users the opportunity to trade on margin.
Huobi Global crypto exchange is a great exchange for non-US residents. It is for those who want access to a very wide range of crypto with low fees. Huobi Global crypto exchange provides margin and futures trading, as well as the ability to stake, lend, or deposit crypto for rewards. It also offers the ability to borrow against your crypto assets.
However, Huobi Global has some worrisome reviews related to identity verification issues and the inability to withdraw funds. It’s also not a good option for beginners, as its basic trading view includes a screen full of charts, active order books, and crypto jargon. Overall, Huobi Global is a good option for advanced traders, but beginners should look elsewhere.
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