Huobi- Asia’s Most Popular Crypto Exchange
Huobi is a Chinese cryptocurrency exchange founded in 2013 by Leon Li, an Alumnus of Tsinghua University. Considered China’s largest crypto exchange platform, Huobi has scaled up its global operations aggressively, operating in countries like the United States, Russia, and Turkey. As per a recent report by data specialist CryptoCompare in October 2021, $211bn worth of digital assets changed hands on this platform, and 70% of the company’s revenue is from overseas.
Huobi is one of the oldest players in the crypto industry and has benefited from bitcoin hitting mainstream markets. And being in the industry for more than 7 years, the exchange has a strong professional approach to crypto and simplifies the trading, stalking pools, margin trading. Additionally, Huobi also offers crypto loans to customers. Huobi Global supports major crypto assets as BTC, ETH, and USDT, and it offers global traders features such as derivatives trading.
In this Huobi exchange review, we will focus on the exchange’s features and services. This article is not meant to be considered financial advice. We urge investors and traders to conduct their research before investing in cryptocurrency. According to Coinmarketcap’s ranking, Huobi Global is ranked among the top exchanges. The 24-hour trading volume of the exchange grew to $26 billion.
Cryptocurrencies Supported by Huobi
Huobi exchange supports major cryptos like BTC, ETH, and USDT, which can be traded directly. The best part is that the exchange offers staking pools, where users can stake their cryptocurrency to earn rewards. However, the offer of the exchange will determine the availability of staking pools. Moreover, the crypto you can buy on Huobi depends on the country or region you live in.
How to Register Huobi Contract Account (Webpage)?
Following are the required steps to sign for a Huobi account:
1. Log in to the website: https://www.huobi.bi/zh-cn/
2. Click the “Sign Up” button at the top of the page
3. Select “Country” (please note that certain regions do not allow the provision of digital assets derivatives services). Enter your mobile number in the “Phone,” then enter your password, and finally click on “Register” (example for mobile registration).
4. To complete registration, enter the verification code.
Things to consider while singing in for Huobi Account:
- Before registering, please read the User Agreement.
- Verify that you are registered in the correct country. Modifications are not allowed if this is the case.
- Only one phone number/email address may be used for account registration
- If you use email to register, please check your spam folder if the verification code mail is automatically split into spam.
- If you already have a Huobi Global account, you don’t need to register for the Huobi Futures account. Instead, please log in to your account using the mobile app.
What is ID verification?
ID verification is the process of binding your name and ID information according to your nationality. For example, if your nationality is China, you will need to bind both your name and your ID card number.
Steps tp verify your Huobi Account:
- Log in to your account and move your mouse over your icon. Then, click “ID Verification.”
- Click “Apply to ID Verification”
- Fill in all the information, and then click “Verify” for submission.
How to use Huobi exchange for crypto trading?
Huobi Global Exchange offers one of the most user-friendly interfaces. This makes it easy for new users to navigate Huobi Global’s website. The website also features a Tradingview function, where users can plot and use their favorite indicators. The platform supports more than 10 languages from various countries around the world. The exchange allows users to maximize their experience.
1. To see your balance, click on the Balances and deposit BTC/ETH for trading.
2. Click on the [Hide 0 balances] button if it is too cluttered. Click on, let’s say, ETH and click “Deposit.” Send ETH to the address by copying the address
3. It’s time to get on the markets once you have enough BTC/ETH in balance. Click the “Exchange” button at the top.
4. Let me guide you through this site.
The top left is where you will find your estimated net value. You can use the search bar to find new coins or tokens, such as STK and ELA. You can click on the bar to choose other periods. The Volume is shown below the chart. You can keep track of the latest Huobi stuff by using the Announcement link on the left.
What are Huobi Deposit/Withdrawal/Trading Fees?
When looking for the best crypto exchange, trading fees are a hot topic. Global traders are attracted to the exchange offering the best trading fees. Huobi Global offers a variety of fees rates to attract crypto traders. Depending on your crypto, the fee will range between $1 and $28.
What countries does Huobi support?
Huobi Global supports more than 50 currencies worldwide. When looking for a reliable exchange, it is important to also check the payment method. Investors and traders can check whether the exchange supports their currencies. Not all countries are open to crypto exchanges. Huobi Global supports more than 50 local currencies and offers 60 payment options. CNY, USD, and HKD are just a few of the supported currencies by Huobi Global. As a result, traders and investors all over the globe can buy crypto with these fiat currencies.
However, Cryptos can be used by traders in certain countries that aren’t on the exchange’s list of crypto-supporting nations. Users located in countries that do not support the exchange can use cryptos such as BTC and ETH to pay. These crypto-assets can be exchanged directly to other altcoins on the Huobi Global exchange.
As per recent reports, Huobi will be closing its Singapore operations shortly after it leaves China. According to the company, this move is part of a compliance effort with local financial authorities. In addition, the Huobi user agreement states that the company’s services can be banned from persons who are located in the United States of America, Canada, Japan, and Cuba.
To sum up Huobi is a major player in the crypto industry you should be looking out for. It actively lists new tokens and recently launched its Huobi Token (HT). Huobi is a secure platform and shields users from hacks and other such threats.