Huobi Global is headquartered in Singapore, the United States, Japan, South Korea, Hong Kong and has a presence in more than 130 countries worldwide.
Huobi Global’s products form a full support ecosystem for traders, ICOs, researchers, and participants in the DeFi sector as well as blockchain startups, including:
- Huobi Global Exchange
- Houbi Ventures
- Huobi DeFi Labs
- Huobi Cloud
- Huobi Eco Chain
- Huobi HADAX
- OTC exchange-traded between coins and Huobi OTC fiat currency
- Huobi Wallet Digital Account Management Wallet
- Huobi.cn cryptocurrency news site
Huobi Global is headquartered in Singapore, the United States, Japan, South Korea, Hong Kong and is present in more than 130 countries worldwide.
WHAT IS HUOBI GLOBAL?
Huobi Global is an international cryptocurrency exchange under Huobi Global. As well as exchanges such as Binance, FTX, Kucoin, Huobi Global allow trading between Bitcoin, USDT, and hundreds of other altcoins. Huobi Global currently serves traders from more than 130 different countries.
It provides users with one-stop services related to digital assets, including spot trading, margin, OTC trading, futures trading, swap, staking, prime pool, mortgage, etc.
Huobi Global floor platform versions
- API Trading
- Windows
- Mac OS version
- Download the iPhone
- Download Android
HUOBI’S OPERATING LICENSE AND INSURANCE POLICY
Cryptocurrency trading in general has not yet been accepted in many countries. In terms of operating licenses, Huobi and most other exchanges are not very clear. However, in some of the world’s most demanding markets such as Japan, Huobi has provided official services.
Customer protection policy is also one of Huobi’s strengths. The exchange is committed to storing 98% of its customers’ digital assets with cold wallet systems. This storage process ensures that hackers have difficulty gaining the opportunity to penetrate and seize customers’ assets.
In 2018, Huobi officially launched an investor protection fund. Of which 20% of revenue in the secondary market will be transferred to this fund. The number of recruits in the fund prioritizes compensation for Huobi Pro users in some cases of unexpected risk.
In 2018, Huobi also launched a customer protection system “Security Reserve Mechanism” with a total amount of up to 20,000 BTC, stored at an independent wallet address. For losses that do not come from user error, Huobi is committed to full compensation under the set floor safety terms.
FEATURES OF HUOBI GLOBAL
Supports many altcoins and tokens: Huobi Global is a centralized cryptocurrency exchange located in Seychelles. List 352 cryptocurrencies and support 933 trading pairs. Huobi Global’s volume in 24 hours at the time of the report was 121,086.84 Bitcoins or $5,368,588,172.
Huobi Token: like Binance exchanges with BNB, FTX has FTT, and Kucoin has KCS. Huobi Global also has a token that is an HT token. Holding HT tokens will reduce transaction fees, participating in IEO investments on Prime and Staking.
Altcoin/USDT trading pairs: Huobi supports a lot of altcoins and USDT trading pairs. This helps traders reduce their dependence on Bitcoin when trading.
24/7 Customer Support: Huobi is the first exchange to offer 24/7 customer service. Online customer service centers on social networking sites, websites as well as email. For Vietnamese investors, Huobi also established a community of its own.
Anti-hacker and DDOS security: Huobi build a distributed architecture that prevents DDOS attacks and other threats. More than 98% of trader assets are stored in multi-signature cold wallets. Since its inception, Huobi has not once been hacked, affecting users’ capital.
Diverse trading platforms: in addition to the website, you can also trade Huobi Global on iOS, Android, Windows, and Mac platforms.
Margin Trading support: Huobi Global allows you to margin trading – i.e., trading margin Bitcoin and other altcoins. With this form, you can enter orders too short when the market is going down and make a profit. Huobi Global supports leverage up to 3 times.
FEES ON HUOBI GLOBAL
Deposit and withdrawal fees: Huobi does not charge a deposit fee. Withdrawal fees are charged depending on the type of coin you withdraw.
Transaction fees: Huobi currently applies a 0.2% transaction fee for all transactions. This fee is higher than Binance and Kucoin but still cheaper than other exchanges.
For a discounted transaction fee, you can buy Huobi Token and participate in Huobi Global’s VIP program.
Margin fee: Huobi Global’s USDT loan interest rate per day is 0.0425% (30-day and 45-day loan package) and 0.0345% (90-day loan package). The interest rate for margin trading on Huobi Global is 0.1% per day.
ADVANTAGES AND DISADVANTAGES OF HUOBI FLOOR
Advantages of Huobi floor
- Huobi currently has 438 trading pairs. You can find most of them.
- Altcoins want to trade on this.
- Huobi has Vietnamese support. The Vietnamese interface of the floor is intuitive, easy to use. Besides, the Huobi Vietnamese community is large, many of the problems of users can be solved.
- Huobi Token (HT) is highly useful in the Huobi ecosystem.
- The Huobi platform has never been hacked. This is a pretty good achievement in the crypto community.
- Huobi has a variety of trading types, including margin trading, OTC, and buying IEO tokens on Huobi prime and Huobi prime lite platforms.
Disadvantages of Huobi flooring
- Huobi charges 0.2% per transaction – a fairly high fee compared to the current floor.
- Huobi has many domains with many different products. In addition to hbg.com the Huobi Global exchange, Huobi also has other domains such as huobi.com, huobigroup.com, huobi.co.kr, … Many new users will feel confused with this domain “matrix”.
HUOBI DEVELOPMENT TEAM (TEAM)
- Leon Liis the founder and CEO of Huobi Group. Before founding Huobi Global, he was a former computer engineer at Oracle.
- RobinZhu: He is in charge of managing the operations center of Huobi Group. He has experience in corporate management, real-world data analysis, and operations management. He has worked for Oracle and Capgemini Consulting. He also has the experience and in-depth research in the blockchain industry.
PRODUCTS SUPPORTED TO TRADE ON HUOBI
Huobi is one of the cryptocurrency exchanges with the most diverse number of listed coins in the market. Accordingly, the number of coins/tokens on this exchange has been about 400 types. Most of the potential coins on the market are already on Huobi. Traders will have more investment options.
Huobi Global has many different products and services, not just a regular exchange. The list below will give us an overview of Huobi Global.
Buying cryptocurrencies through domestic payments: This is a platform that allows investors to buy cryptocurrencies through a Visa/MasterCard card or a domestic bank card in Vietnam.
Huobi P2P: This is a platform that supports cryptocurrency buying/selling transactions between users on the platform. Users can have the option of price as well as payment form for sellers.
Spot trading: This is a place to support the trading of cryptocurrency pairs listed on the exchange.
Margin trading is a form of margin trading by borrowing the capital of the exchange to make a trade. Depending on each pair, investors will be offered different leverage ratios. For example, the BTC/USDT leverage ratio is currently 3x.
Autotrade (Grid trading): This is a trading strategy in which users on Huobi can automatically buy low/sell high at a certain price range. The transaction process will take place automatically based on the user’s settings.
OTC lot trading: This is a platform that supports the purchase and sale of agreed prices for large investors.
Futures: This is a platform to support the trading of forwarding contracts on Huobi Global.
Staking: Users stake some of the tokens they own to receive a return. For example, investors can stake XPRT with an APY rate of up to 30% per year.
Primepool: Lock some assets on Huobi Global through the Primepool platform for the chance to receive free airdrops of newly launched tokens.
Huobi earn: Deposit certain types of tokens for certain periods to receive APY annually. For example, investors can deposit USDT for 7 days to receive APY up to 88%.
ETH 2.0: Is a connected intermediary that enables investors, especially small investors, to contribute to the ETH 2.0 network.
Crypto loan: This is the platform that makes it possible for investors to borrow any cryptocurrency by depositing another cryptocurrency. For example, investors can deposit 0.02644325 BTC to borrow $1,000 from the exchange.
HUOBI’S VAST ECOSYSTEM
Besides the trading platform, Huobi is constantly diversifying its products and services through the expansion of its ecological network.
- Huobi labs: Operating since 2018, it supports Huobi in building a complete blockchain.
- Huobi Capital: This is a fund dedicated to Huobi investing in the blockchain industry.
- Huobi Mining Pool: The operation of the mixing tank has expanded Huobi’s service as well as the scale of operations.
- Huobi Pro: One of the five cryptocurrency exchanges with the largest volume of exchanges globally in 2020.
- HADAX: A cryptocurrency exchange located in Huobi’s ecosystem, specifically designed for traders who already have trading experience
- Huobi OTC: The Official OTC Huobi Service was introduced in late 2017, allowing traders to rotate large volumes of cryptocurrencies in a completely anonymous, non-traceable manner.
In addition, Huobi continues to invest in research, training, and resource provision to develop application systems based on blockchain technology.
HUOBI TRADING PLATFORM
Huobi attracts a lot of participants to the modern trading platform, meeting the needs of the majority of traders.
Huobi Prime
This is the platform that allows traders to buy any plant that is conducting repairs on Huobi Prime. Investors have a chance when the profit is large if the purchase is successful because the price of the above coins usually increases quite quickly.
Under the new rules, everyone has an IEO. After a successful purchase, traders can choose to trade trees or hold coins waiting for the price to rise.
FastTrack
Every month, Huobi will nominate five projects to the FastTrack round. Holders of the HT notice that HT has the right to vote to select the coin project that is officially listed on Huobi. If it wins the voting round, the coin/token of that project can trade day-to-day with BTC, USDT, and HT.
In addition, participants in the vote also have the right to buy new coins/tokens on the floor with a value of only 50% of the market value. Huobi will also select the 10 luckiest users to help them convert HT tokens to project tokens.
Projects that go through the FastTrack round have increased in value by 3, even 5 times more than the original. The hotness of these projects has attracted quite a lot of people to invest.
Margin
Not out of the general trading trend of the market, Huobi invests in margin products. Coins traded on Huobi can be subject to financial leverage of up to 5X.
Huobi DM
The futures trading platform is one of the highlights of the Huobi ecosystem. Currently, Huobi DM provides a system of risk management tools, supporting traders to perform well in trading, limiting losses from market fluctuations. Price manipulation is also more unlikely. Contracts on Huobi DM weekly, monthly or quarterly.
HOW TO USE HUOBI EXCHANGE
Opening an Account
Signing up and creating a Huobi trading account is easy. First, click on the ‘Sign Up’ link on the right-hand side of the home page’s header (the top of the page).
You’ll be asked to sign up with either a valid phone number or email address, and both require you to state your nationality. Traders from the United States are unable to join the exchange at present. After clicking on the ‘Sign Up’ button below the form, you’ll be asked to pass a captcha, and verify the contact method you chose (phone or email) using a code that Huobi will send promptly.
After you’ve entered the code, you can log into Huobi as a new customer. They’ll first ask you how you’d like to fund your account—by buying cryptocurrencies with fiat money or by transferring existing digital assets.
Depositing Funds
This is the screen that you’ll be presented with when you first log in to Huobi, after verifying your phone or email address:
- As you can see, deposits can be in the form of fiat money or cryptocurrency, using standard blockchain wallet infrastructure. Let’s begin with fiat money.
- Click on the box on the left side, labeled ‘How to start with no digital asset?’. You’ll be shown the OTC (Over the Counter) area of Huobi first. Here, you can find a seller who is offering bitcoin (BTC), Ethereum (ETH), or Tether (USDT) for fiat currencies like Chinese yuan (CNY), US dollars (USD), and Singapore dollars (SGD). You can send funds via Alipay, bank transfer, PayPal, and a few other payment methods
After you’ve clicked ‘OTC’ in the top-left corner, you’ll be taken to the Over-the-Counter screen which lists sellers who are currently offering their cryptocurrencies for fiat money, how much they want to sell (or buy), which coin is for sale or purchase, their profile details, which payment methods they accept, and what kind of verification requirements they tolerate. Many will require you to have verified your phone and have completed the advanced verification process as well.
Some sellers and buyers don’t require any kind of verification, but Huobi itself will guide you to pick a separate user name and password for their OTC market at the very least. The buy and sell offer you publish will appear on the OTC market list with this user name.
Transferring your digital currencies for use on Huobi’s platform is much more straightforward. Whether you began by clicking on the right-hand box labeled ‘I already have digital assets after your account verification…:
… or if you just clicked on ‘Balances’ from any Huobi page…
You’ll end up here:
- Pick the coin you’d like to buy, from BTC, ETH, USDT, EOS, and HT.
- Click on ‘Deposit’ to launch a pop-up window with a QR code and its associated wallet address.
- You can paste the code or scan it with your phone to send the relevant cryptocurrency to your Huobi wallet.
- You can also click on ‘Transfer’ instead of ‘Deposit’ to move your cryptocurrency into your Huobi exchange account (separate from your OTC account), which lets you trade it for other cryptocurrencies listed on the exchange.
Trade
1. Log in to the Huobi App and click “Trade.”
2. Click the “lines” menu button at the top left of the “Exchange” page to show available trading pairs.
3. Click “USDT” and select the BTC/USDT trading pair.
4. Select the type of order (we will use Limit order as an example) in the “Limit Order” dropdown menu.
- Limit Order allows you to place an order to buy or sell crypto for a specific price;
- Market Order allows you to buy or sell crypto for the current real-time market price;
- Users can also utilize advanced features such as “Stop-Limit” or “Trigger Order” to make orders. Input the BTC amount you want to buy, and the expenses of USDT will be displayed accordingly.
5. Enter the price in USDT that you want to buy BTC at and the amount of BTC you want to buy.
6. Click “Buy BTC” and wait for the trade to be processed.
7. Once the market price of BTC reaches the price you set, the Limit order will be completed.
Notice:
- You can sell cryptos in the same way by clicking “SELL” on the “Exchange” page;
- Check your completed transaction by clicking the “ALL” icon on the “Exchange” page.
Withdrawing
Now that you’re acquainted with the Huobi dashboard, it should be just as easy for you to withdraw as it is to deposit cryptocurrency. Start by clicking on ‘Balances’ at the top right of any page.
On the Balances page, scroll down until you identify the currency you’d like to withdraw from the list
Click on the ‘Withdraw’ button to the right of the ‘Deposit’ button.
A pop-up will appear where you can paste the address you’re withdrawing to (another blockchain wallet). Make sure that the addresses match and that you’re withdrawing to a wallet that supports the coin itself.
Click on the ‘Withdraw’ button and wait. The blockchain will confirm your transaction shortly, and you’ll see your new balance reflected in your Huobi wallet (and your other wallet) shortly thereafter.
Withdrawing fiat currency is simply a matter of moving eligible cryptocurrencies to your OTC account (by clicking on ‘Transfer’ on the Balances page instead of ‘Deposit’ or ‘Withdraw’) and then creating an OTC contract (or executing another user’s contract). The funds you receive from selling will be directly withdrawn into the appropriate fiat account.
DETAILED INFORMATION ABOUT HT TOKEN
Huobi Token is the official token of Huobi Global. Huobi Token is built according to Ethereum’s ERC-20 standard and HT was issued by Huobi Group on January 24, 2018, through ICO funding.
Key Metrics HT
- Token Name: Huobi Token.
- Ticket: HT.
- Contract: 0x6f259637dcd74c767781e37bc6133cd6a68aa161.
- Decimal: 18.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Token Type: Exchange token.
- Total supply: 500,000,000 HT.
- Circulating supply: 167,856,506 HT.
HT Token Allocation
With a total supply of 500 million tokens, HT is distributed in the following proportions:
- 60% is free to members who buy the Huobi Pro Point package of Huobi.
- 20% is used as a reward for users and the operation of the Huobi floor.
- 20% is held by the development team with a disbursement period of 4 years (equivalent to 25 million HT per year).
HT Token Sale
The 300M HT will be awarded to users who purchase a discounted service fee package on Huobi Pro using USDT.
HT Use Case
HT has the following functions:
- Reduce transaction fees.
- Rewards when users refer friends. When they trade, a portion of the fee will be converted into USDT, HT, or bonus points for the ref.
- The HT key receives tokens from other projects in Primepool.
- Hold HT to join Huobi Prime, and transactions in Huobi Prime will also use HT. Huobi Prime is a token sale of a new project before the listing (IEO).
- Stake HT to receive interest on the floor in Huobi Earn when the program is available.
- In addition, 20% of revenue comes from Huobi Contract and 20% of revenue from Huobi Global will be used to acquire HT and burn.
IS HUOBI A SCAM?
Huobi currently has the second-largest market share in Vietnam. At the same time, this exchange is also regularly in the top 3 exchanges with the largest trading volume. Rumors of Huobi scams are not now emerging. But they’re still rumors that don’t have enough ground.
With a large-scale exchange like Huobi, they would not be so favorable to the way of doing business if they wanted to conquer the global market. Huobi’s security history is not very good when it has been hacked twice. However, after each hack, the floor conducts a full reimbursement for customers.
Like Binance’s SAFU program, Huobi will transfer some of the profits into a user protection fund. To create funds to be used to compensate in the event of hacks.
The reason users lose money on Huobi is mainly that they invest in junk coins. They come from projects with no clear development plan, the development team is all anonymous. The price of these coins/tokens can skyrocket after only a short time. But then it’s reduced without braking. The coin project’s development team even disappeared with the investor’s money.
With a large number of listed cryptocurrencies, Huobi is difficult to control and thoroughly screen for junk coin projects. This situation is not only happening in Huobi but most other exchanges also face it.
Therefore, before investing in a certain cryptocurrency, you need to thoroughly learn the development team and objectives of the project. Most importantly, determine if the cryptocurrency is likely to be widely applicable in the future.
Huobi is still going to get dirty coins, not enough potential to limit the loss of money traders. However, just in the meantime, it is necessary to choose to invest intelligently, not to rush to follow the trend. Instead, take your research seriously.
COMUNITY AND SOCIAL
Twitter: https://twitter.com/HuobiGlobal
Facebook: https://www.facebook.com/huobiglobalofficial/
Instagram: https://www.instagram.com/huobiglobalofficial/
Reddit: https://www.reddit.com/r/HuobiGlobal/
Medium: https://huobiglobal.medium.com/
Telegram:
https://t.me/huobiglobalofficial
CONCLUSION
Huobi Global is one of the three largest exchanges to date. The community is strong, it has a great influence, … These are the advantages that Huobi Global currently has. However, the uncertainty over the sanctions has somewhat stifled its development.
