Huobi (Huobi, Huobi Global) is an exchange for buying, selling, and margin trading of cryptocurrencies. It was founded in 2013 in Singapore. The crypto exchange officially launched in May, and within a short period of time managed to become one of the most actively developing cryptocurrency platforms in the world. In 2022, the Huobi exchange is among the 10 largest platforms in terms of trading turnover. Registration is open to most countries in the world, without the need to verify your identity.
The official website of Huobi is huobi.com.
Alternative crypto exchanges: Binance, EXMO, Currency.com, Bybit, Bitmex, Cex.io, OKEx and others.
Basic information about Huobi
| Exchange | Huobi |
| Official site | huobi.com |
| Russian language | Yes |
| Year of foundation | 2013 |
| Founder | Leon Li |
| Legal registration | Singapore |
| Exchange token | Huobi Token (HT) |
| Place in the ranking of crypto exchanges | №8 |
| Fiat | OTC |
| Margin trading | Yes |
| Input and output | cryptocurrencies; stablecoins |
| Account verification | not required |
| Safety | Google Authenticator, SMS |
| Trading commission | for makers – 0.2%; for takers – 0.2%; special conditions for VIP |
| Order types | market, limit, limit stop-limit |
| Cryptocurrencies and stablecoins | 390+ Bitcoin, Ethereum, TRON, EOS, Bitcoin Cash, Litecoin, Ripple, Huobi Token, Ethereum Classic, Cardano, Ontology, etc. |
| The most liquid trading pairs | BTC/USDT, ETH/USDT, EOS/USDT, TRX/USDT, EOS/ETH, EOS/BTC, BCH/USDT, LTC/USDT, XRP/USDT, HT/USDT |
| Trading volume as of January 15, 2022 | 338,046,668 USD (92,111 BTC) |
| Language support | Chinese, English, Russian, German French, Portuguese, Vietnamese and others |
| Other platform services | hbdm.com (derivatives exchange), hbg.com blockchain platform incubator, huobiwallet wallet |
| Mobile application for trading | Android and iOS |
Story
For a long time, Huobi operated in China. She managed to balance between the desire of the authorities to establish control over the circulation of cryptocoins and the desire of clients to immerse themselves in the world of cryptocurrencies.
Last October, the Chinese government redoubled its efforts and Huobi, like many other crypto exchanges, was forced to close and soon registered in Singapore under a new brand – Huobi.pro.
In the new “homeland”, the crypto platform changed course and reoriented itself to global markets, instead of domestic Chinese.
In mid-January 2022, Huobi.pro successfully issued its own HT token to finance its activities. A total of 500 million tokens were issued.
Of these, 300 million went for sale to crypto investors, the rest was aimed at operational servicing of the exchange and for rewarding the team and early investors.
The release itself took place without an ICO. According to the founder of Huobi.pro, Leon Li, the main goal of the issue is to turn the HT token into a universal exchange instrument that could be used by residents of China, the USA, Japan and South Korea.
In terms of daily trading volume, the platform consistently ranks among the top and currently ranks 5th among all crypto exchanges in the world. The daily trading volume on this platform exceeds $1 billion. The Huobi token HT is currently leading in popularity. The volume of transactions paired with NT/USDT is $84 million or 8.27% of the total volume. And plus trading in pairs with ETH and BTC - for 96.8 million. The second most popular trading pair of the site is BTC/USDT. It accounts for 10% or $104 million of the total volume of transactions.
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Features of Huobi Exchange
Key Features of Huobi Crypto Exchange:
- The platform has clear functionality that can be understood by both market professionals and beginners.
- Support for many languages of the world allows the Huobi exchange to receive a large number of clients almost every day.
- The resource is a multifunctional and multicurrency platform where you can buy both top cryptocurrencies (BTC, ETH, LTC, BCH, XRP) and new, promising cryptocoins (TRON, ICX, BLZ, STRAT).
- Huobi Exchange has its own HT token (Huobi Token).
- It is not necessary to undergo verification on the exchange. You can trade without it, and this fact is also one of the important advantages of the site.
- There is both classic trading of digital assets and margin trading, as well as futures.
- It is possible to connect trading using specialized automatic programs (bots). Anyone can find instructions on setting up the API on GitHub, where the page of the trading platform developers is presented.
- There is also a compensation fund, thanks to which investors do not have to worry that as a result of an exchange hack and theft of cryptocurrency, their funds will be lost forever. The Fund will pay out the lost money in accordance with the rules of the trading platform.
- The resource is user-oriented and is actively developing in several directions at once: priority is given to both the Asian region and the countries of Eastern and Western Europe, where Huobi is opening offices and representative offices.
- Thanks to the presence of a developed loyalty program, clients of the Huobi exchange can receive additional income by using the referral program and earning 30% of all trading transactions of partners.
- The web platform has a so-called “Blockchain Incubator” (Huobi Labs), in which about $1 billion has been invested and which allows the exchange to invest in promising startups and revolutionary blockchain projects.
- The level of security is at the highest level: there is the ability to connect SMS authorization during the transition to the exchange, the ability to link an email address to an account, as well as activate Google Authenticator.
- The funds of the majority of Huobi exchange clients (about 98%) are maximally protected, because they are located in “cold wallets” that have a multi-signature.
ICO results and the emergence of the exchange
Almost immediately after the creation of this Chinese exchange in 2013, it became one of the best in China. At that time, there was no such abundance of crypto exchanges, so the opportunity to exchange yuan for bitcoins was worth a lot.
No particular problems arose until 2022; the crypto boom last year forced regulators to take the issue of regulating this market more seriously. A consequence of tightening regulation of the Chinese cryptocurrency market was the closure of Huobi. But it was more likely not about a complete cessation of activity, but about leaving the Chinese market.
In the fall of 2022, the crypto exchange ceased to exist under its previous name and reopened under the name Huobi. The domain is new, it was registered in March 2022, but this should not scare you. The team is the same, and the only reason for starting over with a new leaf and opening a new crypto exchange is pressure from the Chinese authorities.
On Huobi you can:
- Use an exchanger; there are many cryptocurrency pairs, so you can simply buy crypto at a good price.
- Conduct margin trading, we’ll talk about this below.
- There are a couple of interesting opportunities aimed at developing the blockchain industry. For example, Huobi Labs allows you to participate in the development of promising crypto projects. Here projects at an early stage of development can receive funding. A kind of analogue of Kickstarter.
- For the same purpose, voting is now being held for the best crypto projects. Each vote costs 0.1 HT, this is the internal token of the crypto exchange.
So, in addition to the functionality of a simple crypto exchange (buying and selling cryptocurrency, margin trading), the project also serves as a blockchain incubator.
Headquartered in Singapore, it is managed by Huobi Global Team. There are representative offices in Korea, Hong Kong and the rest of China.
Huobi Token
An ERC-20 token that has an HT exchange ticket and is the commercial currency of the Huobi crypto exchange . You can purchase cryptocurrency on the specified trading platform or in crypto exchangers.
Houbi Token is the basis for the functioning of the Chinese trading platform ecosystem and is primarily intended for paying commissions for trading operations.
The price of a token depends on many factors, primarily on liquidity and on the total number of HT coins that are regularly “burned” in order to ensure a deflationary model for the development of a digital asset.
A total of 500 million HT tokens have been issued. As of January 15, 2022, there are just over 50 million in circulation.
Huobi Crypto Exchange: 2018 News
In 2022, the Huobi crypto exchange continued to develop and improve its own internal cryptocurrency, the Huobi Token (HT).
By May, ]Huobi opened several branches[/anchor]: in Singapore, Canada, the USA, attracting local specialists.
In June 2022, the Huobi cryptocurrency exchange ceased operations in Japan due to problems with regulators.
Registration on the Huobi website, verification
register on the official website of the Huobi exchange hbg.com either by phone or using your email address. You must select the desired option and fill out the registration form.
When registering, you must provide the following information:
- Citizenship.
- Email or mobile number.
- Password (and repeat).
- Invitation code (if available).
Next, you should activate your account by following the link in the letter or entering the code that will be sent to your phone.
Verification on the Huobi crypto platform allows you to increase the amount of cryptocurrency withdrawn from the site and increase the level of account protection. To go through the procedure of confirming the identity of an investor or trader, you must go to the “Verification” section.
In the table you must enter:
- Citizenship.
- Passport or driver's license number (or other official identification document).
- Name.
- Last name.
You should upload a photo of your ID and wait for all the data to be verified.
To log in to your personal account, go to the official Huobi website and click “Login”. Then enter your registration information.
Reviews about the exchange
According to an analysis of reviews, this exchange justifiably occupies a leading position in the ranking of the best trading platforms. Huobi is a cryptocurrency exchange with margin trading capabilities, competitive transaction fees, 24/7 technical support and educational materials for new traders. It has its own application, which is available on Windows and Mac operating systems, as well as for gadgets on the iOS and Android platforms.
In March 2022, the exchange was accused of falsifying trading volumes. Crypto trader Sylvain Rabis conducted his own research where he compared several large cryptocurrency trading platforms. He claimed that their figures, which included Huobi, were inflated by up to 80%. Despite the “efforts” of the crypto trader, the platform is still considered one of the world’s leading digital asset exchanges.
Like any similar platform, Huobi has its advantages and disadvantages. Today it has many more advantages. It’s worth taking advantage of this and registering on the official website. In addition, as the founder of the exchange Leon Li states, Huobi is developing rapidly. There are plans to launch our own index, which will help traders assess the dynamics of the crypto market and track trends in cryptocurrency rates.
Setting up account security
Huobi Exchange allows you to increase your account security. To do this, you need to go to the “Account and Security” section in your Profile.
The user has the opportunity to activate the following functions:
- Synchronize your account with your email address.
- Set up SMS authorization.
- Activate Google Authenticator.
Also, to increase the security of your account, you can go through the identity verification procedure.
Main sections of the Huobi official website
On the left side of the Huobi website:
- Market (review of cryptocurrencies).
- Fiat (OTC trading capability).
- Trades (main trading section).
- Margin (margin trading).
- Futures (futures trading).
On the right side of the Huobi official website:
- Balance (section for replenishing an account, withdrawing funds, etc.).
- Warrants.
- User profile (verification, personal settings and much more).
At the bottom of the site there are links to the sections “Commission”, “Digital Assets”, “Downloading the Application”, “User Agreement” and a number of others.
Addresses and opportunities
The Huobi crypto exchange (or rather, its official website) is available at www.huobi.pro.
It has several additional resources:
- site mirrors - www.huobipro.com, www.huobi.com;
- mobile wallet with support for tradable currencies—www.huobi.io;
- website with crypto market news in Chinese - huobi.cn.
Unlike its competitors, the Huobi cryptocurrency exchange offers traders a wide variety of interface languages, including Russian. This makes the resource attractive for those who are starting their trading journey.
More than 140 cryptocurrency pairs are available for trading on Huobi. The ten most popular coins include:
- Bitcoin;
- Ethereum;
- Zcash;
- Ethereum Classic;
- Litecoin;
- EOS;
- Dash;
- NEO;
- Monero;
- Steem.
About 15% of trading volume comes from Bitcoin; other cryptocurrencies account for no more than 5% of sales. In addition to traditional innovative coins, Huobi offers customers its own currency - Huobi Token.
How to deposit/withdraw funds from the exchange
top up your account with Huobi cryptocurrency in the “Deposit & Withdrawal” section. The link to the section is in the “Balance” tab.
To replenish your account you need to perform several actions:
- Select the desired asset.
- Click on the “Deposit” button on the right.
- Copy cryptocurrency address.
- Transfer funds to the specified address from another crypto wallet.
You can also withdraw cryptocurrency here. The algorithm is almost the same:
- First you need to choose a coin.
- Click on the “Withdraw” button.
- Copy and paste the output address.
- Specify the amount.
- Take into account the commission and make a withdrawal.
After this, wait until the transaction receives the required number of network confirmations and the coins are credited to your account.
Funds are generally withdrawn from Huobi very quickly.
Deposit and withdrawal methods
Depositing funds in dollars is possible via bank transfer or OKPAY payment system. When depositing funds through a bank, the user pays a commission of 1%, through OKPAY - 1.5%.
Withdrawal of funds in dollars is also possible only through a bank transfer, then the commission will be 1% (but a minimum of $33) or through OKPAY.
There is no commission for depositing funds in RMB, but when withdrawing funds, the commission depends on the user’s VIP level.
Withdrawals are also possible in Bitcoin and Litecoin. The commission is 0.0001 BTC and 0.001 LTC.
Exchange trading
The link to the main trading section of the Huobi exchange is called "Trading".
The trading terminal page should be divided into several parts (for a better understanding of the process):
- On the left are the main markets (USDT, HUSD, BTC, ETH, HT). The cryptocurrency exchange rate display can be switched to the Russian ruble.
- In the middle, a chart of the price movement of the asset is displayed, all the tools and indicators necessary for trading cryptocurrency are available here (Japanese candlesticks, empty lines, etc.), you can select the interval of price movement, select the desired indicator (Bollinger Bands, MACD, Balance Volume, etc. further) and change the screen type from the standard version to the full version; There is also the option to view the market depth.
- The digital value of the change in the price of an asset, located above the chart (current value of the asset, percentage change, low price point for 24 hours, high, volumes per day).
- On the right side there are trading books for buying and selling cryptocurrency (green - buy, red - sell).
- Under the price movement chart, there is a Buy and Sell form.
- Open orders can be seen under the form above.
- The order history is at the very bottom of the Huobi website page.
To buy an asset, you should follow these steps:
- Select a currency pair.
- Select order type.
- Enter the purchase price (if necessary)
- Enter the desired amount of the asset.
- Click on the purchase button.
The buy order will be sent to the trading order book on the right (Tape), after which you just need to wait until a buy is found.
The algorithm for selling cryptocurrency on the Huobi exchange is the same, only in this case you need to click on “Sell” and wait for a buyer to appear.
How to buy and sell
To go directly to trading, go to the Exchanges tab.
Here, Huobi.pro will show the most popular trading pairs and provide market analysis tools in the form of cost charts. They can be customized to make it easier to spot trends.
There are two types of orders on this crypto exchange: limit and market. Using limit orders, a crypto investor can independently set the price for a particular crypto coin. But, in this case, you will have to wait until the other user accepts the terms. Registration is simple. We indicate the amount, price and click buy or sell.
The second type - market orders - allow you to quickly carry out an operation at the best market price, which is determined by the exchange itself.
Here you only need to indicate the amount and determine the direction of exchange.
You can also open an order for margin trading on Huobi Pro. This is done in the Margin section.
The functionality here is the same as with regular trading: charts of value and market depth, orders (limit, market), transaction history, etc.
To start margin trading, we indicate the price, amount and choose what we will bet on: the rate will rise or fall.
One of the advantages of the margin trading functionality is that Huobi Pro shows the risks of a particular transaction. One of the downsides is that the crypto exchange does not allow you to place a stop loss - a protective order in case the market goes against the trader’s transaction.
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Margin trading
Huobi Exchange provides margin trading.
Traders can borrow borrowed funds from the platform to trade “short” (for a decrease in the price of an asset) and “long” (for an increase in price).
To start trading in the “Margin” section, you need to follow these steps:
- Go to the “Margin” section in the “Balance” tab.
- Select a currency pair to trade short or long.
- Top up your margin account (the “Enter” button) and confirm the operation.
- Go to the margin trading page (at the top of the site dashboard).
- Select a trading option depending on (short or long).
If the price of an asset goes up during the specified period of time, and if the trader has chosen “long”, the transaction is considered successful and can be closed. The user returns the borrowed funds to the Huobi exchange, and puts the interest from the transaction in his pocket.
If we are talking about lowering the price (“shorts”), then if the price falls, such a transaction is considered successful for the trader. He closes the order, also returns the borrowed money to the platform and receives a profit in the form of interest.
But if in neither the first nor the second case the trader guesses the direction of the asset price movement, then he loses money.
Registration
To start registering, you need to go to the platform web page and click Sign Up.
Huobi.pro will provide you with two registration methods to choose from: by phone or by email.
Depending on the option chosen, the registration confirmation code will be sent either to your phone or email.
Otherwise, you only need to indicate your nationality and create a password. Enter all the necessary data and click Sign Up.
After this, it will be possible to deposit and withdraw cryptocurrency on the crypto exchange, as well as trade it. But without verification, Huobi Pro sets certain limits.
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Trading commission
find out the trading commissions of the Huobi exchange by going to the desired section, the link to which is at the bottom of the official website.
The commissions are as follows:
- For makers – 0.2%.
- For takers – 0.2%.
There is an opportunity to reduce commission payments by purchasing VIP status.
Huobi Pro Support
The crypto exchange support service operates in two languages: Chinese and English. Therefore, you need to use any of these languages to complete your request. You can contact us with any question you are interested in. However, first you should go to the “Help” section, which can be found at the very bottom of any page of the site.
It will cover various questions that traders most often ask. And if you don’t find a solution to your problem there, feel free to contact technical support.
There is mail for this, as well as an official channel on Telegram. The response to the request comes within 2-3 days - not the longest time to wait.
Judging by the feedback from traders, all user requests receive full and detailed answers, so you can always count on the help of professionals on any issue.
Advantages and disadvantages of Huobi
The main advantages of the Huobi exchange:
- One of the top cryptocurrency trading platforms in the world.
- A large selection of crypto assets, as well as new, promising coins.
- Excellent functionality.
- OTC trading.
- You can trade without going through verification.
- Client funds are stored in “cold wallets” that have a multi-signature signature.
- Mobile applications available for Android and iOS.
- Profitable affiliate program (referral reward of 30%).
- Good defense.
- Supports several world languages, including Russian.
- Availability of a “Blockchain incubator” for the development of innovative projects based on distributed ledger technology.
- There is margin trading.
- Adequate commission level.
- Own token.
There are not many disadvantages:
- Some sections are only available in English and Chinese.
- The translation into Russian is a little hard on the eyes, and in places it is clumsy.
- The minimum withdrawal requirement for Tether is not so small – 200 USDT.
- There are risks associated with the development of the crypto market itself, with the fall in the price of cryptocurrency.
The long-term prospects for Huobi exchange are good. It continues to develop in several directions, and with a “bullish” cryptocurrency market, it is able to generate profits, as well as improve in the direction indicated by management.
Choosing a broker for trading cryptocurrencies
The cryptocurrency market has very high volatility, which opens up great prospects for quickly making big money (see whether Masterforex-V Academy traders can earn 2000% per month). However, you should be aware of the high risks. Approach the issue of exchange trading intelligently (see win-win accounts of Masterforex-V traders and their strategies and successful trading systems for making a profit on cryptocurrencies).
Cooperation with reliable partners is no less important for trade than the knowledge gained. The major league rating of Forex brokerage companies from the Masterforex-V Academy is the 12 most reliable Forex brokers for safe trading.
| № | Broker name, year founded | Financial instruments | Licenses from financial regulators | ||||
| Currencies | Goods | Stock market | Cryptocurrencies | PAMM | |||
| 1. | NordFX (2008) | + | + | + | + | + | CySEC, MiFID |
| 2. | Swissquote (1996) | + | + | + | + | — | FINMA, FCA, SFC, Dubai FSA |
| 3. | Dukascopy (1998) | + | + | + | — | — | FINMA, FCMC |
| 4. | Alpari (1998) | + | + | + | + | + | ARFIN |
| 5. | FxPro (2006) | + | + | + | — | — | FCA, CySEC, FSB, Dubai FSA, BaFin, ACPR, CNMV |
| 6. | Interactive Brokers (1977) | + | + | + | — | — | NFA, CFTC, FCA, IIROC |
| 7. | Oanda (1996) | + | + | + | — | — | NFA, CFTC, FCA, IIROC, MAS, ASIC |
| 8. | FXCM (1999) | + | + | + | + | — | FCA, BaFin, ACPR, AMF, Dubai FSA, SFC, ISA, ASIC, FSB |
| 9. | Saxo Bank (1992) | + | + | + | — | — | Danish FSA, Consob, CNB, ASIC, MAS, FINMA, JFSA, SFC Hong Kong |
| 10. | FOREX.com (1999) | + | + | + | + | — | NFA, CFTC, FCA, ASIC, JSDA, MAS, SFC |
| 11. | FIBO Group (1998) | + | + | + | + | + | CySEC |
| 12. | FINAM FOREX (1994) | + | — | — | — | — | Bank of Russia |
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Prospects for a crypto exchange
The Huobi crypto exchange is actively expanding and developing regional markets, striving to become leaders in the crypto market and gradually increasing capitalization, concluding new partnerships and opening representative offices in many countries around the world.
Her areas of interest include the following regions and countries:
- Asia.
- Eastern Europe (primarily the Russian Federation).
- Western Europe.
Considering that the Huobi platform appeared during a difficult period for the crypto market when the price of Bitcoin and other assets fell, and a year later the well-known trading platform Mt.Gox collapsed and was able to survive, the prospects for the exchange are solid.
The expansion of the partner network, the opening of representative offices in other countries (in particular in the European Union and Russia), the recent opening of a derivatives exchange on the main platform, and an increase in the liquidity of digital assets on the site provide an incentive for the development of both the Huobi exchange itself and its commercial token HT.
Scandals with the Huobi exchange
Crypto exchange Huobi rarely finds itself in scandals. It is considered one of the most reliable platforms for trading digital money.
In November 2022, amid rumors about the arrest of one of the Huobi executives in China, traders began to actively withdraw funds from this exchange. Huobi representatives denied the rumors. They also noted that the employee in question occupies a high-ranking position, but he does not manage the keys, so there is no danger to users’ wallets.
