Huobi Review: Find Out Why This Exchange Is Trusted By Over 4.5M Users

This is an in-depth review of Huobi Global!

Huobi Global is ranked the 2nd largest crypto exchange by trade volume.

It is one of the very best exchanges that enables you to trade multi-cryptocurrencies with optimum advantage.

 

Best of it all, Huobi has impregnable security; the exchange has never been hacked before.

And in this review, you will find all you need to know about Huobi.

Let’s dive in at once!


Post Summary

The list behind will be our guide to this review:

  1. Huobi Global Explained!
  2. Features of Huobi Global
  3. Products and Services
  4. Native Token of Huobi Global
  5. Supported Currencies and Countries
  6. Transaction Fees and Payment Methods
  7. Limits and Verification Requirements
  8. Customer Support and Public Opinion
  9. FAQs
  10. Conclusion

You are free to use the link embedded in each of the outlines to your advantage.

Let’s get going!


Huobi Global Explained!

Huobi

Huobi is a blockchain and crypto exchange company founded by Leo Li in 2013.

It is headquartered in Seychelles and is available in more than 100 countries.

Huobi offers an advanced platform where you can buy/sell, and trade a wide range of crypto assets.

Far from that, it also offers blockchain-based services including, public chain, mining pool, e.tc.

Huobi has a highly scalable trading engine, coupled with an intuitive UI – this makes it great for both newbies and expert traders.

It equally uses a range of security approach/ system to protect users’ funds from external exploitation. 

Being wary enough, Huobi has set in place a “Users’ Protection Fund” which will be used to reimburse users in the case of a potential security breach.

Impressively, Huobi has attracted over 4.5million users globally.

Let’s talk about Huobi features below!


Features of Huobi Global

  • User-friendly UI
  • A host of cryptocurrencies
  • Plethora of services
  • Users’ Insurance Fund
  • Buy crypto with fiat
  • Crypto Earn
  • Native token
  • Advance Security
  • Mobile App

Next is the products and services…read below!

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Products and Sevices

Huobi offers the following services:

1. Buy Crypto

Huobi allows you to buy cryptocurrencies with fiat using the methods below;

  • Quick Buy/Sell: You can buy/sell up to 348 cryptos with 57 local currencies using different payment methods
  • P2P Market: Also, you can buy/sell 9 cryptos from other Huobi users with different payment methods

2. Market

Huobi

This gives you an overview of all the supported cryptos and their trading pairs on the Huobi exchange.

It equally shows you the supported “Futures contracts”, and the market trend.

Also, you will get to see the Price feeds, 24hr changes, and all other necessary information regarding individual cryptocurrencies.

3. Spot Trading

Huobi

i. Exchange

This is the trading platform on Huobi that allows you to buy and sell your crypto for another crypto. This is done instantly, once your order is filled.

ii. Margin

On this trading platform, Huobi allows you to trade up to 500 cryptocurrencies with 3x leverage.

iii. Trading Bot

Huobi allows you to automate your trade using its grid trading bot.

In this way, the bot will trade and make a profit for you even when you are offline.

iv. Brokerage OTC

Here, you can exchange either your fiat for crypto or your crypto for fiat directly with Huobi.

4. Derivatives

Huobi

i. Futures

This is where you trade the Futures contract of over 8 cryptos with up to 125x leverage.

Note that the contract here has an expiry date and it is settled Quarterly, Weekly, and Bi-Weekly. Learn more.

ii. Perpetual Swap

This is a futures trading contract that has no expiry date.

Huobi supports two kinds of Perpetual Contracts:

  • Coin Swaps: Contract is settled in USD
  • USDT Swaps: Contract is settled in USDT

These two contracts have up to 125x leverage. Learn more.

Keep in mind that Futures trading is risky and using high leverage makes it riskier

iii. Options

This is a contractual right to buy or sell an underlying asset at a specific price at any time in the future.

This is a step-by-step guide on how to carry out “Options” trading on Huobi.

Note: To trade Huobi’s derivative products, you must:

  • Verify your account
  • Transfer the funds you want to trade with from your “Exchange Account” to your “Derivative Account”.

5. Finance

i. Huobi Earn

Huobi Earning allows you to earn some passive income by subscribing to either:

  • Flexible Earnings: You can subscribe and redeem assets at any time
  • Fixed Earnings: You can subscribe and redeem at a fixed period of time

Upon clicking on this product, it will show you the APY you will earn for each coin that you subscribe to.

ii. ETH 2.0

Here, you can stake your ETH as BETH and earn 6% – 20% APY in return.

Note that the withdrawal of the BETH token is based on the development progress of ETH 2.0, which is expected to be 1-2 years.

iii. C2C Lending

Via C2C lending, you can lend your crypto for interest or borrow crypto from lenders on interest to increase your trading capital.

The available cryptos to lend and borrow are; USDT, BTC.

iv. Crypto Loans

This product allows you to deposit your crypto as collateral to borrow another crypto asset.

The lending term is 30, 45, and 90 days respectively!

6. Learn

This is the educational product on Huobi that allows you to search and learn everything about Cryptocurrency, Blockchain, and crypto investment.

7. Get $170

New Huobi users can get $170 worth of “Point Card”(Check the FAQ section) by completing certain new user tasks within 15 days.

The reward is redeemed within 30days after they have been credited to your account.

8. Huobi Pool

Huobi Pool offers users the opportunity to participate in staking pools and digital asset mining. Check this out here!

9. Huobi Wallet

The Huobi wallet is a safe and secure non-custodial wallet that was created by the Huobi team to help users to manage their crypto assets.

It is simple to use and supports multi-cryptocurrencies.

Do note that Huobi equally offers an exchange wallet that supports all the cryptos listed on its exchange.

You will get to see the exchange wallet by clicking on “Balances” displayed on the upper right side of your Huobi account.

12. Huobi Ecochain

Huobi Ecochain (HECO) is the decentralized public chain of Huobi Global.

It allows developers to create and manage their Dapps efficiently and at a very low cost.

That’s the exhaustive review of Huobi products.

I will be briefing you about Huobi native token below. Scroll down!

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Native Token of Huobi Global

We have the HT token (Huobi Token) as the native token of Huobi Global.

Huobi token is an ERC-20 token. It launched in 2018 with a 500 million total supply.

However, at its initial stage, 300 million HT tokens were given as bonuses to users; for purchasing Huobi’s Point cards.

The remaining 200 million HT tokens were kept aside, on a 1:1 ratio, for Huobi’s team and the platform’s management.

100 million HT tokens went to Huobi`s team and another 100 million HT tokens went to the platform’s managerial aspect.

The main purpose of creating this HT token is to serve as a users’ incentive token and a fee reduction token.

Currently, the HT token powers the entire Huobi Global ecosystem.

Holders of this token will get a percentage deduction of their fees (the more HT tokens you hold, the more fee deduction you get).

By hodling this token, you can vote for a new token listing on Huobi.

Also, this token is given as a reward to users who participate in Huobi’s finance and mining products.

Let’s hit the next subheading


Supported Currencies and Countries

Supported Currencies

Cryptocurrencies

Huobi supports over 350 cryptocurrencies.

Click here to see all the supported cryptos and their trade pairs.

Fiats

Over 50 Fiats supported.

  • CNY, USD, HKD, VND, MYR, RUB, EUR, INR, TRY, UAH, KZT, TWD, KRW
  • AUD, CAD, SGD, GBP, PHP, CHF, NGN, IDR, KHR, BRL, SAR, AED, NZD
  • ZAR, NOK, DKK, SEK, ARS, THB, COP, VES, ALL, KES, BGN, PEN,CZK, HRK
  • HUF, MDL, MKD, PLN, RON, UAH, AZN, CLP, CRC, DOP, GEL, ILS, KZT, MAD
  • MXN, NAD, QAR, UYU, UZS

Note that NGN is only supported on the “P2P Market”.

Supported Countries

Huobi is a global exchange and supports all other countries except:

  • Japan
  • United States of America

It does not also support the following countries for Futures trading:

  • Bangladesh, Canada, China, Cuba, Ecuador, Guam, Hong Kong (China), Iran, Iraq,
  • Israel, Kyrgyzstan, Macao (China), Marshall Islands, North Korea, Puerto Rico,
  • Samoa Eastern, Sudan, Syria, Taiwan (China), United Kingdom,

Next, we will look at the fees and payment methods on this exchange. Keep reading!

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Fees And Payment Methods

Fees

i.Trading Fees

Huobi offers a basic trading fee of 0.2%. However, it offers a fee discount based on the following;

  • 30 days trade volume
  • HT holdings
  • Point card holdings

See the trading fees at a glance!

TradesFeeResources
Spot0.2% – 0.098%View more
FuturesMaker: 0.02% – 0.005%
Taker: 0.04% – 0.02%
Delivery Fee:
(BTC/USD) – 0.15%
(Others) – 0.05%
View more
Coin SwapsMaker: 0.02% – (-)0.010%
Taker: 0.05% – 0.037%
View More
USDT SwapsMaker: 0.02% – (-)0.010%
Taker: 0.04% – 0.021%
View More
Options FeeMaker:
(BTC)
0.002% – (-) 0.001%
(ETH)
0.0005% – 0.00025%
Taker:
(BTC)
0.0005% – 0.0035%
(ETH)
0.00125 – 000875%
View more

ii. Transaction Fees

Deposit 0%
Withdrawal feeFor Crypto: Depends on the crypto
For Fiat: 0%
P2P fee 0%
OTC fee0.70%
Loan Fee0.098% – 0.0209%

Payment Methods

Over 55 payment methods are supported.

  • Bank Card, Alipay, WeChat pay, FPS, Paypal, Western Union, SWIFT
  • PayNow, QIWI, Interac e-Transfer, IMPS, UPI, NETELLER, Yandex, ADVCash
  • Cash Deposit, DuitNow, PayMe, PAYEER, Alfa-bank, Russian Standard Bank
  • VTB Bank, Tinkoff, Sberbank, MoMo, Zalopay, Grab pay, Privat Bank
  • Transferwise, SEPA, Raiffeisenbank, DUMB, ViettelPay, Touch n Go, Skrill
  • Revolut, PicPay, Perfect Money, PageSeguro, OTP, JKOPAY, Nequi, Movii…e.tc.

Scroll down to the next section!


Limits and Verification Requirements

Limits

i. Deposit and Withdrawal Limit

LimitsFiatCrypto
Deposit AmountMin: depends on
the Fiat
Max: None
 Min: depends on
the crypto
Max: None
Withdrawal AmountNoneMin: Dependent
on crypto
Max: 200 BTC
(per day)

ii. Coin Loan Limit

Verification Requirements

Before you start using this exchange, you must pass through verification.

Here are the verification requirements on Huobi:

  • Country
  • ID (Passport, National ID, Driver licence)
  • Full Name
  • Photo of ID

Note that you must verify your account before you can use Huobi’s services.

You are still here? Alright!

Let’s talk about Huobi’s Support Service below.


Customer Support and Public Opinion

For complaints or issues regarding this exchange, you can reach out to them via:

  • Twitter: https://twitter.com/HuobiGlobal
  • Facebook:https://www.facebook.com/huobiglobalofficial
  • Telegram: https://t.me/huobiglobalofficial
  • Email: [email protected] or [email protected]

There is also a “Help Center” to guide you through some of the services provided on Huobi.

Based on my judgement, Huobi has one of the responsive client support systems.

This is my own opinion, based on Huobi’s prompt responses to all of my inquiries.

Nonetheless, let’s find what other users have to say about Huobi on the following platforms;

  • Huobi has a 2.1/5 star rating on Trustpilot, and customers have complained about the exchanges inconsistencies, which include,

Not being able to make withdrawals

Customer service challenge and the exchange’s complicacy. Check out the review here.

  • Google Playstore: Huobi has a 3.8/5 star rating on this platform.

While some customers praised the exchange’s mobile app for being secure and user-friendly, others pointed out issues that were identical to those mentioned in Trustpilot’s negative ratings. Take a look at it here.

However, it is worthy of note this exchange has a 9.1/10 trust score,
and is one of the top Crypto Exchanges on CMC.

In addition, I have personally used this exchange and must state that it was a positive experience.

From my experience, Huobi is fast, seamless and easy to use.

Note, however, that this is my own experience.

This is all I have for this section!

Scroll down, you will find how to use this exchange and many more in the FAQ section below.

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FAQs

1. How do I start using Huobi?

To start using Huobi, you will need to register an account first.
Below is a step-by-step guide on how to do that.
1. Go to Huobi and click on “Sign up”.
This image has an empty alt attribute; its file name is Screenshot_23-1.png

2. Fill in the “Create Account” box and click on “Sign up”
This image has an empty alt attribute; its file name is Screenshot_24-1.png

3. A verification code will be sent to your email, copy the code and paste it into the box displayed on the Huobi page screen.
This image has an empty alt attribute; its file name is Screenshot_25-1.png

4. Once you have done that, the code will “Confirm” automatically.
After then, you can now start off with your “Welcome bonus” task, and depositing funds into your account.
This image has an empty alt attribute; its file name is Screenshot_26-1.png

2. How do I deposit my coin on Huobi?

This simple guide will help you through:
1. Log into your Huobi account and click on “Balances” then on “Exchange Account”

2. Select the crypto you want to deposit and click on “Deposit”.

3. The details about the coin you want to withdraw will get displayed, select the coin’s “Chain” and click on “Send Deposit Address”

4. A message containing the deposit address will be sent to your email, If you have received the mail, click on “Confirm”.

5. Shortly after, the deposit address will display on the Huobi page screen,  ensure that it tallies with the one sent to your mail.
After then, you can now copy the address to your wallet address or scan the QR code to make the deposit.

Note that the address shown on this post was only used for illustration you should not send your crypto to the address displayed here (in this post).

3. How do I withdraw my crypto from Huobi?

1. Log into your Huobi account and click on “Balances” then on “Exchange Account”
This image has an empty alt attribute; its file name is Screenshot_27-1.png

2. Select the crypto you want to deposit and click on “Withdraw”.
This image has an empty alt attribute; its file name is Screenshot_28-1-1024x375.png

3. Enter your withdrawal address, select “Chain”, enter “Withdrawal amount” and click on “Withdraw”.
This image has an empty alt attribute; its file name is Screenshot_32-1024x550.png

Your coins will be sent to your wallet shortly after.

4. What is Point Card on Huobi?

It is a prepaid card offered on the Huobi exchange. It serves as a fee reduction point for users.  (1 point = 1 USDT fee reduction)
Basically, these Point cards are given as a reward to users for completing a task.
However, they can equally be purchased on the exchange.

5. Is Huobi Legit?

Yes, Huobi is safe.
Now, I have said this because of the points below;
– The exchange has stood the test of time (it has been in existence since 2013 despite the clampdown of other old exchanges that were launched the same year)
– It has a high trust score on CMC.
– Huobi has the 2nd largest liquidity and trade volume when compared with other crypto exchanges
– It is used by over 4 million users
– The exchange has never been hacked
– I have personally used this exchange and found it safe.

These are all I can say about Huobi’s legitimacy.
Endeavour to DYOR before investing.


Ps: If you want to learn how to trade cryptocurrencies profitably, we developed a perfect course to help you master Cryptocurrency Trading.

Go to www.ctmastery.com to enrol.

You can also join our Telegram community at https://t.me/ctmastery for more information.


Conclusion

Huobi is one of the safe, secure and top exchanges that have stood the test of time.

The exchange is definitely everything that a crypto exchange would be with its wide range of services.

Moreover, it has superb customer support/relation; it takes users matters seriously and responds to their messages without delay.

This is where I will end this article.

But what is your view about this exchange?

Do you still have a question about Huobi?

Drop your comment in the box below.

Remember to click the share buttons. Cheers!


Other interesting articles;

Huobi

8.3

Ease Of Use

7.0/10

Customer Support

9.0/10

Reliability

9.0/10

Pros

  • Supports multi-cryptos
  • Multi Payment methods
  • Safe and Secure

Cons

  • Compulsory KYC
  • Banned some countries

Paschaline Anagor

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