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Huobi Global Exchange Platform Review -Read This Before You Get Started

3 Mins read

We will review the Huobi Global Exchange platform. This Huobi Global Exchange platform review discusses the exchange’s services, features, pros and cons, and fees. This guide is not a piece of financial advice; we advise the traders and investors to do their research before getting involved in cryptocurrencies.

What is Huobi Global Exchange?

Huobi Global is a prominent cryptocurrency exchange with a strong presence in the Asian markets. Huobi Global Exchange was founded in 2013, and it provides a digital asset ecosystem that comprises spot trading, derivatives trading, staking, crypto loans, etc.

Huobi Global Exchange

PhotoCredit: yahoo Finance

Huobi Global allows users to buy, sell, stake, and borrow a wide-ranging collection of cryptocurrencies, providing a group ecosystem for experienced crypto traders and investors. However, the exchange didn’t obtain regulatory compliance in major markets, making beginners struggle with the platform’s massive number of tools and features.

This exchange offers almost 350 cryptocurrencies for buying, selling, and trading, and access to margin and futures trading, trading bots, over-the-counter trading, and staking crypto assets to get rewards. It also enables you to take loans to borrow against your crypto holdings. As one of the largest global exchanges with affordable trading fees, Huobi Global Exchange is suitable for moderate and advanced traders and institutional investors.

Features Of The Huobi Global Exchange

  • It offers Margin Trading.
  • It has flexible payment methods.
  • It supports over 900 trading pairs.
  • The trading fees Maker is 0.2%, and Taker is 0.2%.
  • It is available on Google Play Store and Apple Play Store.
  • It operates a clean and friendly user interface.

Is Huobi Global  Available In The USA?

Huobi Global Exchange is not available in the U.S but can be accessed by residents of other countries around the world.

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Huobi Global Exchange Fees

Trading fees are a crucial thing to consider when looking for a good crypto exchange. For this reason, the exchange that offers a good deal in terms of trading fees mostly gets the attention of global traders. Huobi Global Exchange has a range of fee rates available to attract crypto traders and a unique fee rate offer for European users.

Huobi Global Exchange charges a 0.2% base fee. Huobi Token holders get a discount on trading fees, which decreases the more Huobi Token users have in their exchange wallet, but this can be reduced through high trading volumes.

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Is Huobi Global Exchange Safe?

Huobi Global holds client funds in multi-signature cold wallets. It has a 20,000 BTC Security Reserve Fund that was created to cope with intense security accidents to provide its users with a high level of security.

Regulation:

  • Huobi Global is incorporated in Seychelles and may not be legal or regulated in your jurisdiction. If you use Huobi Global Exchange, you are responsible for making sure you are complying with any rules and regulations of your jurisdiction.

Verification process:

  • Huobi Global Exchange does not need verification for all users but reserves the right to get the information needed to verify any customers alongside its AML/KYC obligations. For higher withdrawal limits, verification is required.

Security features:

  • Huobi Global Exchange has been operating since 2013 and follows industry best practices, such as keeping ~98% of user funds in cold storage at any time. It says to have an “investor protection fund” that can be used to reimburse affected users in a hack.

Safety is an imperative feature of trading platforms. Trading platforms use safety measures, including two-factor authentication, user data encryption, and secure wallets. Huobi Global, although not as popular as some other crypto trading platforms, is a reliable place to trade crypto and futures.

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Pros And Cons Of Huobi Global Exchange Platform

Pros 

  • Deep liquidity: Huobi Global Exchange is one of the most liquid crypto exchanges in the world. It provides deep liquidity in the popular BTC/USDT and ETH/USDT trading pairs.
  • The massive number of cryptocurrencies: Users can trade over 400 cryptocurrencies on the exchange platform.
  • Has yield-generating opportunities: It enables users to deposit funds and earns double to triple yields on various cryptocurrencies.

Cons

  • The wash trading accusation: Huobi Global has been accused of wash trading, suggesting that its reported trading volumes may be artificially inflated.
  • Largely unregulated: Huobi Global operates out of an unlicensed entity in Seychelles, which makes the exchange unable to operate in many countries.
  • It is not beginner-friendly: The Huobi Global Exchange platform can be intimidating to first-time buyers with its overwhelming number of products and services.

Disclaimer 

Investing in cryptocurrencies, Decentralized Finance (DeFi), and many others are risky and speculative, and the markets can be highly volatile. Talk with an experienced professional before making any financial decisions. This guide is not a recommendation to invest in cryptocurrencies, nor can the accuracy or timeliness of the information be guaranteed.

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Final Word

Huobi Global Exchange offers deep liquidity, supports many cryptocurrencies, and offers an extensive array of yield-earning opportunities, making it a good destination for experienced crypto traders. Still, the exchange’s inability to meet regulatory requirements in many jurisdictions prevents it from serving more customers across the globe.

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