Cryptocurrency Exchange

Huobi Exchange Review

This Huobi Review will give you a walkthrough Huobi exchange, it's features, and other aspects.

Overview

Legal NameHuobi Exchange
HeadquartersSingapore
CEOLeon Li
Year Founded2013
Exchange TypeCentralized
Trading FeesMaker: 0.20%/ Taker: 0.20%
Deposit MethodsCryptocurrency
Supported Cryptos220+ supported coins including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Stellar and more
FiatGBP, USD, AUD, EUR, INR, BRL, KHR, CAD, CNY, NZD & 15+MORE
Customer ServiceEmail, Phone
Trading OptionsSpot Trading, Margin Trading

As the cryptocurrency market picks uprise, numerous exchange services have entered the market. Each presents a different mix of fees, pairing, geographical features, and user interfaces.

Huobi is an Asian cryptocurrency exchange and it is considered as one of the largest digital currency exchanges operating in Asia.

In this article, we will cover the complete aspects of Huobi exchange such as its fees, supported currencies, pros and cons, and much more. Let us look into this Huobi exchange review in detail now,

What is Huobi Exchange?

Huobi Exchange is an online cryptocurrency exchange accessible by both desktop and mobile devices. The exchange was established in 2013 by Huobi Group and has become one of the world’s most well-known crypto exchanges. 

Huobi Global is an extremely liquid exchange over multiple crypto trading pairs including BTC, ETH, LTC, XRP, and more. The CEO of Huobi Global is Leon Li, who has been in the position since 2019. The exchange also has offices in Hong Kong, South Korea, the USA, and Japan.

Huobi Exchange holds over $1 billion in various assets which can be accessed over 130 countries. The exchange offers both spot and margin trading, meaning that you can trade with more than your account balance.

Huobi Exchange Services

  1. Institutional trading accounts: As one of the largest exchanges in the world, Huobi has attracted the attention of institutional traders and accounts the world over. Huobi has created a separate trading desk for the institution and firm size users that involves both OTC and dark pool trading.
  2.  Huobi User Protection Fund: Huobi provides profits into its User Protection Fund as an insurance policy against hacks, thefts, and other unforeseen events that affect the users’ wallets.
  3. Customer Service: Contacting Huobi regarding any of the issues often means you can expect a response within the hour. That quick response time puts it well above any other exchange.
  4.  Derivatives Trading: Huobi has also launched its own derivatives products for both Futures and Swap trading markets.
  5.  Margin Trading: Along with derivatives trading, Huobi has also become one of the leaders offering support for Margin and C2C lending.

Huobi Exchange Fees and Limits

The Huobi exchange withdrawal fee is below the industry average. This exchange charges a withdrawal fee amounting to 0.0001 BTC when you withdraw BTC. Huobi does not charge any fee for depositing funds into your account

Huobi has a trading fee of 0.2 percent on each trade made by both makers and takers for a trading volume of less than 5 million. It’s trading fees reduces with an increasing trade volume, and gets to 0.015 percent for makers and 0.025 percent for takers when trading volume is up to 300 million and above.

Huobi-Exchange-Fees-and-Limits

Huobi Exchange Supported Currencies

Huobi supports a wide range of 220+ more cryptocurrencies. Some of the notable cryptocurrencies include:

  • Bitcoin
  • EOS
  • Ethereum
  • Bitcoin Cash
  • Cardano
  • Monero
  • Bitcoin SV
  • USD Tether
  • Stellar
  • Ripple
  • Huobi Token
  • Ethereum Classic
  • Litecoin
  • TRON
  • Zcash

Huobi Exchange Mobile App

Huobi also has an app that makes trading on it lots easier for its users. The app is available for Windows, Mac, iOS, and Android.

Huobi-Exchange-Mobile-App

How to register on Huobi Exchange?

  1. Step 1:

    Visit the Huobi Official Website. Click on “Sign Up” option

  2. Step 2:

    Select your nationality from the dropdown menu, enter your email address or your phone number and a strong password

  3. Step 3:

    Agree to the terms and Conditions and then click SignUp

  4. Step 4:

    Click on your profile icon located at the top right corner of the page. In the dropdown menu click on the Verification tab.

  5. Step 5:

    Fill in the details including your nationality, government-issued ID card, first and last name, and photo of your ID which details you to need to insert in the required field.

  6. Step 6:

    Click on the ‘Verify’ button to complete the verification of your account and then log in through your Huobi exchange login.
    register-on-Huobi-Exchange

How to recover the Huobi password?

In certain cases, to recover the Huobi password, Go to the Huobi login page, click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password. 

recover-the-Huobi-password

How to deposit on Huobi Exchange?

  1. Step 1:

    Log in to your Huobi account

  2. Step 2:

    After logging in, Go to “Balances” then click on “Deposit”.

  3. Step 3:

    Then select on “Exchange Account”

  4. Step 4:

    here you will find all the cryptocurrency deposit address for your account. Choose the crypto you want to use to deposit

  5. Step 5:

    Copy the address and then send funds to that address.

How to withdraw on Huobi Exchange?

  1. Step 1:

    Log in to your Huobi account

  2. Step 2:

    After logging in, Go to “Balances” then click on “Withdraw”.

  3. Step 3:

    Then select on “Exchange Account”

  4. Step 4:

    here you will find all the cryptocurrency deposit address for your account. Choose the crypto you want to use to withdraw

  5. Step 5:

    Copy the address and then you will get the funds to the address.

How to buy cryptocurrencies on Huobi?

  1. Step 1:

    Log in to your account

  2. Step 2:

    Click on ‘Buy Crypto’ on the top left

  3. Step 3:

    Enter which currency you want to Pay with and then select Bitcoin.

  4. Step 4:

    On the order screen, confirm the payment method and amount and place the order by clicking ‘Go to simplex’

  5. Step 5:

    Fill in your credit card data and personal data and proceed your order

  6. Step 6:

    Simplex will send your Bitcoin to your Huobi account buy-cryptocurrencies-on-Huobi

How to sell cryptocurrencies on Huobi?

  1. Step 1:

    Log in to your account

  2. Step 2:

    Click on ‘Sell Crypto’ on the top left

  3. Step 3:

    Click on Exchange and select your favorite trading pair, like BTC/USDT

  4. Step 4:

    Scroll down and choose between a market or a limit order. A market order will be executed immediately. Limit order needs to get filled by a seller

  5. Step 5:

    Fill in the amount and select your preferred order

  6. Step 6:

    Click on Sell BTC to complete the order sell-cryptocurrencies-on-Huobi

Huobi Exchange Pros and Cons

Pros

  • Access to a wide range of digital coins and tokens
  • 24/7/365 customer service
  • Pre-trade education programs for new users
  • Strong liquidity is available for traders

Cons

  • Huobi’s platform for U.S. customers ceased operations in 2019
  • Minimal information in English
  • Has previously been accused of faking trading volumes
  • Low withdrawal limits

Conclusion

Huobi exchange is a safe and solid exchanging platform for a wide range of cryptocurrencies. It has a great user-friendly interface, strong storage, an intervention fund for users. It also has an exchange application available for Windows, Mac, iOS, and Android devices.

When it comes to security, they have taken all of the safety precautions. Their 20,000 BTC strong insurance fund keeps them well protected. Huobi seems to have it all for any investor, regardless of skill or experience.

Thus it is a wonderful exchange to trade on and one of the highly recommended amongst other cryptocurrency and digital assets exchanges.

Recent Updates

  • On May 18, 2020, Huobi’s Derivatives Platform Rebranded as Huobi Futures to Attract More Investors
  • On May 19, 2020, Huobi Wallet Now Allows Crypto Credit Card Purchases Through Simplex
  • On June 19, 2020, Ripple, Brave and Huobi Join Instant Global Payments Network PayID
  • On July 03, 2020, Huobi Becomes First Major Exchange to Run a Chainlink Node 

Huobi Exchange FAQ’s

  1. How much will it cost me to use Huobi?

    There are no fees for depositing funds into your account, but withdrawal fees do apply.

  2. Are there any transfer limits?

    The maximum amount you can withdraw from your account varies depending on the currency chosen and whether you have verified your identity.

  3. Is there a Huobi mobile app available?

    Yes, Huobi also has a mobile app that makes trading on it lots easier for its users.

  4. Where is Huobi Based?

    Huobi was originally based in China, but it now has offices in Singapore, Japan, the United States, and South Korea

  5. Is it safe to use Huobi?

    Huobi exchange is a safe and solid exchanging platform for a wide range of cryptocurrencies.

Huobi Exchange Ratings

Reviewed By Sara K

Easy to use  
Trading 
Fees and Limits
Registration

Summary

Huobi Exchange is an online cryptocurrency exchange accessible by both desktop and mobile devices.

4.3
Huobi - 8.6

8.6

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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