Huobi is a cryptocurrency exchange which previously focused on the Chinese market only but later began focusing on cryptocurrency traders around the world. It is operated by Huobi Global Limited, a company which is incorporated in the Republic of Seychelles. They have offices in Singapore, Hong Kong, Japan and the USA. It was founded in September 2013 by Leon Li. Huobi users can trade over 190 cryptocurrencies, and the exchange also owns a trading platform which focuses on international users and offers trading services in pairs like BTC/USD and LTC/USD. It has great features like good customer support and the ability to deposit and exchange numerous currencies at low trading fees. Huobi has a Huobi Autonomous Digital Asset Exchange (HADAX) A feature which is the first autonomous token listing exchange. It allows token holders to vote for the cryptocurrency they wish to be listed in the HADAX exchange. If the winning token is compatible with Huobi pro listing, they are also listed in the website.
- Trading: Huobi offers several order types including market order, limit order and stop limit order. The platform also has margin trading available in BTC and LTC with the leverage of 5× and a 24-hour fee of 0.1%. They have a flash trade feature that incorporates chart index, market chart and order book. Its flash trade enables real-time trading especially during a time of high volatility.
- Ease of use: The website is fast, responsive and its interface also looks good and easy to use. It supports about 13 languages to cater to its global users. The platform also offers Android and IOS Apps for mobile users. Its features, in particular, are highly important to exchanges with high liquidity like Huobi.
- Verification: The verification process is easy and requires users to register using your ID and set a password, but for higher withdrawal limits, users need to verify their Identification by entering your passport or ID number and then upload a photo of your passport or ID. The audit should be completed within 24 hours.
- Fees: The platform uses the maker-taker model. When buying or selling cryptocurrencies both maker and taker are charged 0.2%. The only deposit method available is in cryptocurrency, and there is no deposit fee. The maximum transfer limit trades can withdraw from accounts depend on the type of crypto and whether you have verified your identity. The fee can be reduced up to 50% by purchasing a VIP membership, and the fee can also reduce to 0.1% depending on the user trading volume.
- Security: Huobi has invested highly in the development of its security and has passed many third-party tests. 98% of Huobi users assets are stored in multi-sig cold wallets and funds needed to facilitate trades are stored in hot wallets. The wallets are monitored 24/7. The platform also offers two-factor Authentication, SMS and email verification with PGP encryption for emails. The exchange also says it offers a decentralized and anti-DDoS protection system.
- Customer support: The staff at Huobi are polite and helpful and the response time is about 2-3 hours. The support can be reached via phone, ticket, emails, social networks and there is also an online help centre with FAQ's. The support team is available 24/7 and willing to go above and beyond to serve customers.
- It has good security.
- It has a friendly and fast customer support system.
- Competitive fees
- High liquidity
- It is available on Windows/Mac operating system and IOS/Android Apps.
- It lists many cryptocurrencies.
- It is accused of faking trading volumes
It is a good exchange that supports ICO tokens and cryptocurrency. Their coin listing continues to grow as the year's pass. Their native Huobi token (HT) for Huobi pro and HADAX allows users to get good benefits like trading discounts. HT tokens provide liquidity and also the token holder can vote for token listings on the HADAX exchange.