Cryptocurrencies are taking the world by storm with their potential to cause significant disruptions in the finance sector. Many nations and their authorities are very concerned with the rapid adoption of cryptocurrencies. Speaking of concerned authorities, China was one of the first nations to ban crypto trading.
Before this ban, many prominent crypto exchanges were based in the country. But this sudden ban shocked many crypto exchanges, forcing them to seize their operations in China. This review will walk you through the nuances of one such crypto exchange platform called Huobi Global.
Huobi Global was one of those few crypto exchanges that successfully managed to navigate the challenges of the massive transition. Huobi Global’s success is truly remarkable because the platform only survived the transition and earned the name of one of the world’s leading crypto exchanges.
Currently, Huobi Global is based in Seychelles, offering a seamless crypto trading experience to traders from all over the globe. So continue reading as we explore different Huobi Global crypto exchange offerings. By the time you reach the end of this review, you will automatically have a better understanding of if this is the right crypto-trading platform for you.
Pros and Cons of Huobi Global
Huobi Global At a Glance
| Official Website | https://www.huobi.com/en-us/ |
| Headquarters | Seychelles |
| Founded in | 2013 |
| Number of listed cryptocurrencies | 350+ |
| Supported fiat currencies | GBP, USD, AUD, EUR, INR, BRL, KHR, CAD, CNY, NZD, and over 15 more |
| Allowed in the US | No |
| Trading fees | Taker - 0.20%Maker - 0.20 |
| Withdrawal fees | None |
| Customer support | Email, phone, chat support |
Huobi Global: Company Overview
Huobi Global was initially founded in China by Leon Li in 2013. Things were going great for the crypto exchange until 2017 when the Chinese government began its crackdown on crypto exchanges in the country. Following this, Huobi Global’s headquarters were moved to Singapore before finally settling its base of operations in the Republic of Seychelles.
Huobi Global attracts crypto traders from all over the planet except the US and Japan. However, it is worth noting that Japanese residents can still use the Huobi Japan platform to trade their cryptocurrencies. The platform has earned an excellent reputation, offering unmatched crypto-to-crypto trading services.
Additionally, Huobi Global covers an extensive selection of assets, and the trading fees are among the most competitive in the market. The crypto trading platform is best designed for institutional investors and active traders. Traders can access various features, including future and margin trading. Apart from this, one can benefit from derivatives, OTC trade desks, and other custom trading tools.
Given Huobi Global’s journey, one can be certain the platform is here to stay for a long haul. There have certainly been many challenges in its journey, but Huobi Global has stood the test of time to reach where it is today. Today, the platform supports over 350 cryptocurrencies.
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Cryptocurrencies Supported By Huobi Global
There is one primary reason behind the rapid growth and expansion of Huobi Global as one of the leading crypto exchanges in the world. The platform supports over 350 cryptocurrencies, providing traders with many cryptos to choose from. Some of the best-known cryptos you can find on the platform include:
Cryptocurrencies Supported By Huobi Global
| ETH | ZIL | MIOTA |
| XEM | BTC | NULS |
| NEO | ONT | BNT |
| NANO | BCH | ZEN |
| BAT | DOGE | DTA |
| STEEM | WTC | WAVES |
| UUU | BIX | ADA |
| XRP | QTUM | ELF |
| BTM | IOST | MDS |
| KNC | AE | RUFF |
Besides the platform is also open to accepting crypto projects with future potential! Therefore, if you’re a user who’s into investing in crypto tokens but don’t want to open their accounts with new crypto exchanges.
Key Features Of Huobi Global
Crypto traders from many countries love the benefits of the Huobi Global crypto exchange. The platform offers a wide range of features designed with traders in their minds. Therefore, crypto trading on Huobi Global means you can get a wholesome experience with minimal hassle. So let’s check out some of the key features Huobi Global offers to its crypto traders.
Huobi Futures
Futures trading has become a trendy scene in the present crypto trading market. This form of trading allows users to trade their digital currencies in the future on any given date of delivery. As a result, it becomes much easier for traders to make profits from the volatile pricing of cryptocurrencies in the market.
Huobi Global offers futures trading functionalities that allow traders to swap different assets with leverage of up to 125x on swaps and 20x on futures. Furthermore, users can divide them into four types of contracts: weekly, bi-weekly, quarterly, and bi-quarterly. For instance, suppose a crypto trader chose the BTC weekly futures with 10x leverage. This will allow you to take one BTC as the margin for opening short or long 10 BTC positions.
Huobi Staking
Crypto staking is another investment opportunity that has attracted many traders from all around the globe. This staking business is nothing super complex but a relatively simple process where crypto traders lock up a portion of their cryptocurrencies for a while. This allows them to contribute to the overall blockchain network, allowing users to get rewards.
You can compare this to the conventional practice of depositing money in the bank, except here, you get rewards in the form of cryptocurrencies. With Huobi Global, the rewards are deposited into the crypto wallet of every individual crypto trader. This simple way to earn impressive rewards has attracted many traders from across the globe.
User-Friendly Interface
One of the primary reasons fueling people’s reluctance to get involved with cryptos is the complex user interface of most exchange platforms. Fortunately, that is not the case with Huobi Global, which has long been known for its user-friendly interface. As a result, anyone can seamlessly navigate through the platform’s nuances with no issues whatsoever.
The trading interface of Huobi Global provides you with important market sources and pricing. Besides that, you also get access to a wide range of analytical tools and charts to simplify your overall crypto trading experience. Additionally, you can benefit from the trading view functionality to plot or benefit from your most preferred indicators to augment your crypto trading experience.
Unmatched Customer Support
Getting started with crypto trading is never easy as it requires one to understand a lot of relatively new and complex processes. Further, indulging yourself in crypto trading without understanding the market is not ideal. So it does not come as a surprise if you find yourself stuck with an issue that further impacts your overall crypto trading experience.
These things will not be an issue when trading your cryptos on the Huobi Global platform. Why? Because of the highly effective customer support you can get from Huobi Global. You can reach the customer support executives through email, phone, or online support. Besides that, you can raise tickets against any issue you encounter, and the team will resolve it in just a couple of hours. If all that does not work, you also have the option to reach Huobi Global through social media platforms.
Additional Features of Huobi Global
As mentioned earlier, many aspects of Huobi Global attract crypto traders from all across the globe. So if you think Huobi Global only has the features mentioned above, then you are wrong.
The platform has many more features and functionalities to help you make the most of your crypto assets and generate high returns. So continue reading to learn more about some of the additional features and functionalities of Huobi Global.
- Flash Trade: Huobi Global has many distinct offerings for its crypto traders, but the flash trade feature will always stand out. This feature allows traders to test trading volumes in real-time, especially in cases of high volatility. Flash trade also integrates different charts, orders, markets, and indexes for a given order book.
- Uncompromised Security: Every crypto trader out there knows how important security is to ensure reliability. Thus, Huobi Global takes significant measures to ensure the security of its users at all times. Be it one-time password layers or the conventional two-factor authentication system Huobi Global has it all. So all things aside, you can be sure that you will not gain access to your valuable crypto assets.
- User Protection Fund: You will barely find any crypto trading platform that protects your funds. Huobi Global has about 20000 BTC as a security reserve to help them deal with severe security concerns. In many adverse scenarios, the platform will start the buy-back process to ensure your funds remain safe at all costs.
- Spot Trading: Huobi Global also provides its users with spot trading functionalities where traders can trade their digital assets immediately at the present market rate. You can even deploy different strategies to increase your returns and avoid the implications of common human errors. All you need to do is click on sell when the price inflates and increase your returns like never before.
- Huobi API: Huobi Global provides its users with a Huobi API. This API allows traders to encrypt their trading bots. However, make sure first to generate the API key beforehand to reap the benefits of Huobi API. Also, never share the API key with anyone else because a thing can raise severe security concerns for your crypto assets.
Fee Structure of Huobi Global
The trading fee that Huobi Global charges are wholly dependent on the overall trading volume. This means the more you trade, the lower you pay as trading fees. This is unique for a crypto trading platform that has gained so much recognition over the years. Nonetheless, let’s break down the cost of these trading volumes and the trading fee that it attracts.
| Trading Volume (30 Day USDT) | Taker Fee | Maker Fee |
|---|---|---|
| 0 - 5 million | 0.2.% | 0.2% |
| 5 -10 million | 0.060% | 0.04% |
| 10 - 15 million | 0.055% | 0.035% |
| 15 - 25 million | 0.055% | 0.030% |
| 25 - 35 million | 0.045% | 0.030% |
| 35 - 70 million | 0.040% | 0.025% |
| 70 - 150 million | 0.035% | 0.025% |
| 150 - 300 million | 0.030% | 0.025% |
| Over 300 million | 0.025% | 0.015% |
| Over 500 million | Negotiable | Negotiable |
Furthermore, the charges for fiat to crypto trades also depend on whether you are trading an existing order such as a taker or placing a new trader as a maker. Besides that, the currency you are trading also plays a key role here. So let’s break it down further.
Withdrawal and Deposit Fees
Huobi Global charges different fees on crypto deposits and withdrawals, but the fees for fiat currency might vary based on your preferred currency and payment method. The same goes for withdrawal, where fees can vary based on the currency and crypto you are withdrawing.
| Currency | Taker Fee | Maker Fee |
|---|---|---|
| CNY to ETH or BTC | 0% | 0% |
| CNY to USD/USDT | 0% | 0% |
| CNY to XRP/EOS/ LTC/ HT | 0% | 0.2% |
| Other crypto trades | 0% | 0.7% |
Besides that, you are a verified or unverified user who will also play a key role here. The details about your withdrawal limits will be visible on the screen as soon as you log into your account.
Security Features In Huobi Global
Huobi Global does not settle for any compromises regarding the security of its users and their assets. The platform takes numerous security measures to ensure your digital assets remain safe and secure at all costs. Some of the best-known security features of Huobi Global include:
- Account Freeze: There can often be instances when you might be suspicious of unauthorized access to your account. In such cases, you need not spend your energy worrying about the adverse implications that follow. Instead, you can use the account freeze functionality of Huobi Global and secure your account in no time.
- Cold Storage: Hackers and fraudsters have wreaked havoc on the crypto industry. This is why Huobi Global stores 98% of its digital assets in cold or offline storage. This ensures that hackers do not gain any access to your crypto assets ensuring unmatched safety at all times.
- Bitcoin Reserve: As discussed earlier, Huobi Global maintains a huge Bitcoin reserve of 20000 BTC in offline or cold storage. Thus, in case of an unforeseen cyber attack on Huobi Global, you can be sure that your crypto assets are safe. Huobi Global uses this reserve to buy back crypto assets from its traders if things go wrong.
- Two-Factor Authentication (2FA): With the increasing threat of unauthorized access, two-factor authentication (2FA) has become very important. Huobi Global leverages the Google Authenticator to ensure security for your account with a 6-digit passcode. Thus, you will always receive a notification if anyone tries to gain unauthorized access to your account.
Opening An Account on the Huobi Global Platform
Signing into the Huobi Global platform is as easy as it can get. However, there are a couple of pre-requisites, such as attaining the age of 18, and the individual must be a resident of any of the supported countries.
Following this, you need to follow the steps to start crypto trading on Huobi Global:
Step 1: Click on the “Sign Up” tab on Huobi Global homepage.
Step 2: Provide your email address and set a password
Step 3: Verify the email address through the email
Step 4: Provide necessary credentials such as an address, photo ID, etc.
Step 5:‘ Wait till your account is verified, which can take up to 7 days.
Step 6: Strat depositing funds either through cryptocurrencies or fiat currencies
Once you’ve followed all the steps, you’ll have an account open in no time! You can then reap the benefits of crypto trading with Huobi Global.
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Customer Satisfaction
Even since its inception, Huobi Global has gone to great lengths to ensure unmatched customer satisfaction at every point. The user-friendly interface of the crypto trading platform plays a key role in simplifying and enhancing your crypto trading experience. This is something that traders appreciate a great deal because it helps them save time and make the most of the platform’s features.
Besides the user interface, Huobi Global also provides its users with a user-friendly mobile application. The application is seamlessly compatible with operating systems, including Android and iOS. As a result, it becomes much more convenient for traders as they can even trade when on the go.
Finally, the affordable trading fees that Huobi Global charges from its traders also play an important role in enhancing customer satisfaction. The customer support that Huobi Global offers is also worth appreciation, given that most crypto trading platforms fail to offer such support. So combining all these factors, it becomes clear that Huobi Global ensures unmatched customer satisfaction at all times.
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Huobi Global Vs. Competition
Huobi Global has gone through many challenges ever since its inception in China. However, the platform has managed to navigate through these challenges and reach the end of the tunnel. But this commitment is not always enough to convince you to use this crypto trading platform.
There are many other crypto trading platforms available in the market, and as a trader, you need to understand those platforms as well. This will help you make an informed decision about choosing the crypto trading platform. With that said, here is a comparison between Huobi Global and one of its leading competitors, FTX crypto exchange. Read the full FTX Exchange review.
Huobi Global Vs. FTX Cryptocurrency Exchange
| Criteria | Huobi Global | FTX Cryptocurrency Exchange |
|---|---|---|
| Cryptos supported | 350+ | 240+ |
| Trading Fees | Taker - 0.20%Maker - 0.20 | Taker - 0.07%Maker - 0.02% |
| Deposit Fee | None | Bank fees may apply depending on payment method |
| Withdrawal Fee | None | 0 fees on withdrawals, except when you’re dealing with ERC-20, ETH, or omni tokens. |
| Fiat Deposit | GBP, INR, USD, BRL, KHR, CAD, AUD, EUR, CNY, NZD and over 15 more | AUD, USD, TRY, ZAR, CAD,EUR, GBP, HKD, SGD, CHF,BRL |
| Allowed in US | No | No |
| Launch Year | 2013 | 2019 |
Final Verdict
As you can see, Huobi Global has many features and functionalities to help you enhance your crypto trading experience. The platform is ideally designed to help you increase your returns and drive amplified growth with minimal hassle. However, not everything is all good and jolly with Huobi Global. As a crypto trader, you must weigh both the pros and shortcomings of Huobi Global to ensure you make an informed decision.
Should You Consider Using Huobi Global
Many such characteristics set Huobi Global apart from other crypto trading platforms in the market. Some of these upsides of trading with Huobi Global include:
- Wide Selection of Cryptocurrencies: Huobi Global is one of those few crypto trading platforms that offer traders an extensive selection of cryptos. Currently, you can trade over 350 different cryptocurrencies. This gives you the ability to make the most of every opportunity that comes your way.
- Great Range of Features: The other strong point of crypto trading with Huobi Global is access to a wide range of features. That platform has some of the best features you can get in a crypto trading platform. These features are designed with customer experience, so they play a key role in enhancing traders’ overall crypto trading experience.
- Mobile Application: Most people now prefer trading through their mobile phones. Thus, Huobi Global provides users with a user-friendly mobile application that helps them trade on the go. The mobile application is available for both Android and iOS users.
- Great Liquidity: Liquidity is one of the primary reasons why traders are attracted to Huobi Global. The platform offers unmatched; liquidity allowing you to make the most of every opportunity. Most importantly, the liquidity Huobi Global offers is not something you can expect from most other leading crypto trading platforms in the market.
Shortcomings of Huobi Global
- Lack of Regulation: One of the primary reasons you will find many crypto traders wary about trading with Huobi Global is the lack of regulation. The platform operates as an unlicensed entity in Seychelles, which raised many eyebrows. As a result, many countries like the US do not allow Huobi Global to operate in the country.
- Not Great For Beginners: Huobi Global has some of the greatest numbers of services and products for advanced traders. However, these considerable volumes of features can overwhelm any beginner crypto trader. Besides, there is also a lack of educational resources to help our beginners.
This wraps our review of the Huobi Global platform! Looking at the comprehensive review, it’s evident that the platform is packed with reliable features and functionality that make the platform different from the others. In addition, the competitive fee structure makes trading cost-effective for traders of all types. However, the platform also faces drawbacks in certain aspects.
Therefore, if lack of regulations make you worried about signing up with a crypto exchange, Huobi Global is not the platform for you! In such a situation, we suggest you start looking for a different platform using the same features and functionalities in mind. All the best!
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