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.
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.
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.
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.
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.
|San Francisco, USA
|bank transfer, card
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|San Francisco, California, United States
|USD, EUR, JPY, CAD