Huobi, which was formed in 2013 in Beijing, is a crypto exchange that focuses on Southeast Asian markets and supports trading of more than 190 cryptocurrency pairs accross multiple platforms and devices.
It moved its base to the Republic of Seychelles after start of crackdown on crypto exchange by Chinese government in 2017. It has other offices in Singapore, the United States, Japan, Korea and Hong Kong and it now serves customers in more than 130 countries around the world.
With it, users can deposit and exchange dozens of different currencies at 0.2 percent trading fees for both makers and takers. There is no deposit or withdrawal fees.
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How it works
It has basic and pro features with the pro features accessible to users in more than 130 countries around the world. In addition to allowing trading of a wide range of crypto pairs, the crypto exchange has limits on the order sizes. The limits vary depending on the cryptocurrency you want to trade. For instance, the limit for the BCH/BTC pair is 10,000 maximum sell of market order and 1,000 for the maximum buy of the market order.
The limit for the ETH/BTC and LTC/BTC pairs is the same as that of BCH/BTC. To start trading, you will need to enter and confirm your email address on the exchange. You can also link and verify your phone number and even enable the 2-factor authentication through the Google authenticator, and this ensures more security for your account. Also needed is a photo of your passport before you are able to have the account verified.
Although the maker and taker fee is 0.2 percent, VIP users are able to access discounted platform fees based on their VIP membership level. The membership is bought using Huobi tokens with the fee ranging from 120 HT / month for the VIP 1 to 12,000 HT / month for the VIP 5 level.
The Withdrawal fee varies for each cryptocurrency. For instance, Bitcoin withdrawal fees is 0.001, Ripple is 0.1, Ethereum is 0.01 and Bitcoin Cash is 0.0001.
The maximum to withdrawal from your Huobi account also varies depending on the cryptocurrency in question, and depending on whether you are a verified or non-verified user. For instance, you are able to withdraw up to 200 Bitcoins and 2,000 Ether per day as long as you are a verified user.
Huobi works for iOS and Android as well as Windows and Mac operating systems.
Huobi Group also runs the Huobi Autonomous Digital Asset eXchange (HADAX) on which customers can use Huobi tokens to vote for the tokens they want listed on the exchange.
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In matters to security of trading at the exchange, Huobi offers a decentralized structure and anti-DDoS protection system. It claims that more than 98% of its digital assets stored in multi-signature cold wallets.
Having been in operation from 2013 means they have good experience in running an exchange. The exchange also offers a 24 hours a day and 7 days a week of support for those needing assistance. There are also pre-trade education programs for new users