Huobi Review – Exchange Features, Trading Fees and Security

Exchange Reviews / 19.07.2019

Huobi is a popular global cryptocurrency exchange that focuses on servicing the Asian Markets. This well-recognized platform consistently ranks amongst the world’s top 10 largest exchanges by trade volume. Notably, the word “Huobi” is Mandarin for “currency.”

Features of The Huobi Exchange

Huobi platform has a reputation as a safe and solid exchange for trading a wide range of cryptocurrencies. The network features a user-friendly interface that allows new users to navigate the platform without confusion. It’s this simplistic approach that helped Huobi gain such notoriety in the market. 

  • Fiat On-Ramp

Huobi serves an important role as a multi-national fiat on-ramp. The network supports an impressive 27 fiat currencies. Specifically, you can load your account with GBP, USD, AUD, EUR, INR, BRL, KHR, CAD, CNY, NZD, and 15+ more fiat options. The network is very responsive in this manner, and your funds deposit within minutes. Additionally, you can use your credit card to purchase Bitcoin.

  • Coin Selection

Huobi users enjoy an excellent selection of coins to trade. The network supports over 290 cryptocurrencies and continually adds new projects based on their merit and overall popularity. This flexible approach to coin additions keeps Huobi users in the loop on all the latest and greatest projects.

  • Security

In terms of security, Huobi has one of the best records in the market. This massive blockchain ecosystem has never had any major security breaches, hacks, or losses of users’ funds. Additionally, developers have gone the extra mile in terms of protecting user funds. For example, 98% of user funds are stored in cold storage to remove hacking risks. 

Huobi funded an investor protection fund to further investor confidence and add an extra layer of protection against loss. This fund currently holds 20,000 BTC that would be used to repay any losses due to hacks. In this way, Huobi users are more protected.

  • Liquidity

As one of the top 10 crypto exchanges globally in market capitalization, Huobi enjoys deep liquidity. You can always find a trader to take up your trades. This liquidity makes Huobi attractive to whales and other large financial institutions because they can complete major trades real-time. 

  • Customer Service

Huobi provides a responsive customer service portal that is available 24/7. New users can ask questions about trading strategies and functionalities. Best of all, you don’t have to wait for days for a response. In most instances, your concerns are addressed in under 24-hours.

  • Learn

To become a better trader, you need to educate yourself. The platform offers various pre-trade education programs to help you accomplish your goal to become an expert trader. Users gain valuable insight into the market and how to come out of their positions with higher ROIs. This feature is a huge plus for new users who may not have a firm grasp on the concepts and the reasons why certain projects and strategies hold value. 

  • Interoperability

Huobi features a high level of interoperability in the market. You can integrate outside interfaces and trading bots using the platform’s internal API. API support is vital nowadays because it allows experienced investors to maximize their ROIs and market monitoring capabilities.

How Does The Huobi Exchange Work

Huobi is a custodial, centralized exchange. This designation means that you will need to load your funds onto an exchange wallet to participate in trades. Centralized exchanges like Huobi hold the advantage of being regulated. Regulated exchanges are held to a higher standard of customer care and include customer protection mechanisms. 

  • OTC

One of the coolest features of Huobi is its OTC feature. This option is ideal for large orders because it provides whale investors with access to minuscule fees.

  • Margin Trading

Huobi supports margin trading. Specifically, you can enjoy 5X leverage for spot trading using the platform. The network recently introduced Coin Margin Swaps and USDT Margin Swaps as part of its ongoing commitment to providing advanced trading tools. 

  • Futures

Huobi offers trading futures on top cryptocurrencies such as Bitcoin. Futures are a powerful tool that allows users to earn profits off of the blockchain sector’s volatility without directly purchasing any cryptocurrency. This feature allows for more access by large financial institutions that are unable to purchase cryptocurrencies directly. 

  • Options

Users can also trade cryptocurrency options using the platform. Options are a powerful trading tool that allows a user to trade the right to buy a specific number of coins at a pre-set price. They are very popular amongst stock traders. Like Futures, you’re not trading the actual asset but rather a contract based on the underlying coin when you trade options.

  • Mobile App

The exchange is available in a mobile version—both iOS and Android support this app. The download is free and only takes a few minutes to register. 

  • HUSD

HUSD is the native stable coin of the network. Users gain access to discounted fees, more trading pairs, and exclusive features when they hold HUSD. For example, HUSD holders can store their tokens in an interest-earning savings account. 

  • Savings Account

Huobi is one of only a few exchanges that offer savings accounts. The network provides BTC and USDT investors with this option.

History of The Huobi Exchange

Huobi was founded in China in 2013 by Leon Li. At one point, it dominated the sector. Impressively, in its early days, Huobi accounted for nearly 90 percent of Chinese Bitcoin trading volume.  Before the Chinese blockchain crackdown of 2017, the exchange was among its top three crypto exchanges.

Following the Chinese regulatory changes, Huobi moved to Seychelles. Today, the exchange operates as a regulated platform according to Seychelles’ regulatory requirements. The platform also opened offices in Hong Kong, South Korea, Japan, and the US.

Huobi – Still a Top Performing Exchange

The market doesn’t lie. Huobi users continue to support this exchange due to its easy access and an excellent selection of features. The exchange has proven to be flexible and committed to pushing crypto adoption to new heights. For these reasons, its future looks as bright as its past. 

David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.