Huobi Global is a leading cryptocurrency exchange that is based in Seychelles. Huobi was founded in 2013 in China and was focused on Asian markets, but due to the cryptocurrency ban in China, they were forced to move abroad. Users have the availability to buy, sell, stake, trade spot or derivates, and borrow a broad array of cryptocurrencies.
The exchange successfully managed to grow its user base to tens of millions of users in more than 100 countries and become one of the most liquid crypto exchanges in the world. Huobi processed billions of dollars in trading volume daily. However, the exchange has failed to secure a place in major markets such as the U.S. also the platform may be too complex for beginning investors.
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Score8
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LocationChina, Singapore
CurrenciesBTC, LTC, BCH, ETH
LanguagesEN, RU, CN, KR, JP
Buy withBTC
Fees0.2%
AltcoinsYes
Margin tradingYes (Exchange support margin trading)
Trust scoreA
Beginner friendlyNo (Exchange is complex and difficult for beginners)
FiatNo (The Exchange does not support Fiat currency like USD, EUR, etc ...)
APIYes (API is available for public to use)
Rest APIYes (The Exchange has Rest API support)
WebsocketYes (The Exchange has Websocket support)
Mobile appYes (Exchange has a mobile app)
Credit cardNo (Exchange does not support credit cards)
ReferralNo (Exchange does not offer an affiliate program)
LendingYes (Exchange support lending)
Stop limitYes (Exchange supports stop limit)
US licenceNo (Exchange don't have US licence for Money transmitter)
PGP supportNo (Exchange does not have PGP encryption)ADVANTAGES OF HUOBI
- Deep liquidity
- Wade range of cryptocurrencies
- Offers high-yield opportunities
- Advanced platform
- Client protection funds provided
DISADVANTAGES OF HUOBI
- Wash trading accusations in the past
- Not available in the U.S.
- Complex for beginners
- Low withdrawal limits
TRADING FEES
Huobi Global charges a standard 0.2% fee. Huobi Token (HT) holders receive a discount on trading fees, which decreases the more HT a user has in their exchange wallet.
| Type | Level | 30-day trading volume (BTC) | Base fee rate | HT holdings | Fee Rate (in HT) | Effective Discount |
| Normal use | 1 | < 1000 BTC | 0.20% | ≥10HT | 0.18% | 10% |
| Normal use | 2 | < 1000 BTC | 0.20% | ≥100HT | 0.16% | 20% |
| Normal use | 3 | < 1000 BTC | 0.20% | ≥500HT | 0.12% | 40% |
| Normal use | 4 | < 1000 BTC | 0.20% | ≥1000HT | 0.09% | 55% |
| Normal use | 5 | < 1000 BTC | 0.20% | ≥2000HT | 0.08% | 60% |
| Normal use | 6 | < 1000 BTC | 0.20% | ≥5000HT | 0.07% | 65% |
Professional Trader Tiered Fee Structure
For professional traders, maker fees start at 0.0362% and taker fees start at 0.0462%. Fees decrease based on HT holdings and trading volume.
| Type | Level | 30-day trading volume (BTC) | HT holdings | Maker | Taker |
| Professional Users | 1 | ≥700 BTC | ≥2,000 HT | 0.0362% | 0.0462% |
| Professional Users | 2 | ≥1,000 BTC | ≥2,000 HT | 0.0294% | 0.0420% |
| Professional Users | 3 | ≥3,500 BTC | ≥2,000 HT | 0.0294% | 0.0378% |
| Professional Users | 4 | ≥7,000 BTC | ≥2,000 HT | 0.0252% | 0.0336% |
| Professional Users | 5 | ≥10,000 BTC | ≥2,000 HT | 0.0224% | 0.0308% |
| Professional Users | 6 | ≥15,000 BTC | ≥2,000 HT | 0.0210% | 0.0294% |
| Professional Users | 7 | ≥30,000 BTC | ≥2,000 HT | 0.0168% | 0.0252% |
| Professional Users | 8 | ≥60,000 BTC | ≥2,000 HT | 0.0126% | 0.0210% |
| Professional Users | 9 | ≥100,000 BTC | ≥2,000 HT | 0.0097% | 0.0193% |
WITHDRAWAL FEES
Huobi also charges withdrawal fees, which is known more as a network or ‘mining fee’. This fee is predetermined by the exchange.
- Bitcoin – 0.0004
- Ethereum – 0.004
- Ripple – 0.1
- Cardano - 1
- Solana – 0.01
- Litecoin – 0.001
- Tether – 25
Manuals for Huobi
The user interface looks simple and easy to use. The website is mostly in Chinese but some of it is translated in part to English.
- To use Huobi, you have to first sign up with the platform. You can sign up either via email or phone after which you will be required to set up a 2-factor authentication for your account.
- After signing up, you will be required to verify your ID so as to begin transacting on the platform.
- To exchange a given pair of cryptocurrencies on Huobi, you will have to click ‘exchange’ and choose your pair. For example, BTC/ETH pair. After clicking on the pair, you will be directed to the exchange page of your chosen pair.
- You will then choose your limit/market order. A limit order is an order indicating a specified price that you would want to buy or sell a given cryptocurrency. A market order, on the other hand, is an order in which buying or selling is immediately executed at the current market prices.
- Before you begin trading/ exchanging given pairs of cryptocurrencies, you will have to deposit coins into the Huobi exchange platform.
- The deposit is made by clicking on ‘balances’ and choosing the currency you want to deposit. Taking Bitcoin as an example, once you click on deposit, you will be able to check your Bitcoin withdrawal address where you will send the Bitcoins.
- You will have to always send the same type of coins to a particular address, in our instance, Bitcoins, taking it as our example. Depositing different coins in the address means losing them permanently.
- After depositing your coins in the given address (which doesn’t change unless otherwise notified), the deposit will have to be confirmed by all nodes which can take between 10-60 minutes depending on the type of coin you are depositing.
Security rating of Huobi
Huobi has invested a lot in security and even passed many third-party tests. They offer two-factor authentication, SMS and email notifications and PGP encryption for emails. Over 98 percent of the customer assets are stored in the multi-sig cold wallet, which outputs are limited to Huobi’s hot wallet. The wallets are monitored 24/7 so that the staff could reach immediately in case of a breach.
Huobi - Safety report
Most potential users are usually concerned about the security of the exchange platform. The platform has taken time to invest in security and has been approved by numerous third-party. The least rating the Huobi exchange platform has received from third-parties is a 2.8-star rating; this is slightly above average. Other third-party communities have as well given it a 4-star rating which shouldn’t be such a surprise. Behind the mixed review of the platform is a hacking which once took place but fortunately enough, no funds were reported missing. However, some users are dissatisfied with how the platform is handling business. Some reports indicate that Huobi deducted money from user’s accounts to cover their employee’s errors. Other users have criticized the platform for breaking Chinese laws.
Review of Huobi
This Chinese digital exchange platform is, for sure, a great crypto-exchange platform that all users should consider especially those geographically located in Asia. It is, without doubt, a platform with an incredible set of features and tools that a user especially Asian traders cannot overlook. The main disadvantage is its limit to traders outside China and much content on their website being in Chinese. With the move to introduce decentralized platforms to other areas of the globe, it is soon going to be possible to access Huobi services from anywhere in the world.
