Huobi

reviewURL: www.huobi.pro

Huobi Global is a world-leading cryptocurrency financial services group. In 2013, the founding team foresaw the great potential of the blockchain industry to revolutionize the future of the global financial system. Very quickly, they founded Huobi.com with a mission to both make the financial industry more efficient, and to make wealth more accessible to everyone. The Huobi team is dedicated to providing safe, professional, trustworthy, and world class services to its global clients in an effort to create a client first culture. Huobi Global has planted offices in Singapore, the United States, Japan, Korea, Hong Kong, and is prevalent in over 130 countries across the globe.

Back to exchange list
Score
8
Huobi
Score - 8Score8
Score Android - Score Android
Score iPhone - Score iPhone
Location - China, SingaporeLocationChina, Singapore
Currencies - BTC, LTC, BCH, ETHCurrenciesBTC, LTC, BCH, ETH
Languages - EN, RU, CN, KR, JPLanguagesEN, RU, CN, KR, JP
Buy with - BTCBuy withBTC
Fees - 0.2%Fees0.2%
Altcoins - YesAltcoinsYes
Margin trading - YesMargin tradingYes (Exchange support margin trading)
Trust score - ATrust scoreA
Beginner friendly - NoBeginner friendlyNo (Exchange is complex and difficult for beginners)
Stability
Fiat - NoFiatNo (The Exchange does not support Fiat currency like USD, EUR, etc ...)
Support speed
SafetyB
API - YesAPIYes (API is available for public to use)
Rest API - YesRest APIYes (The Exchange has Rest API support)
Websocket - YesWebsocketYes (The Exchange has Websocket support)
Mobile app - YesMobile appYes (Exchange has a mobile app)
Credit card - NoCredit cardNo (Exchange does not support credit cards)
Referral - NoReferralNo (Exchange does not offer an affiliate program)
Two factor authentification
Withdrawal limit
Verification time
Lending - YesLendingYes (Exchange support lending)
Stop limit - YesStop limitYes (Exchange supports stop limit)
US licence - NoUS licenceNo (Exchange don't have US licence for Money transmitter)
PGP support - NoPGP supportNo (Exchange does not have PGP encryption)

Fees in line with others –   The costs of trading at Huobi are currently set at 0.20% of the total transaction value. They used to distinguish between market “makers” and “takers”, but this is no longer the case.

Over 100 coins available – Huobi has become somewhat of an “altcoin heaven”, with the constant additions of new assets. The list may grow even further in the future, but currently features a lot of the “major” coins: BTC, ETH, XRP, LTC, IOTA, XEM, DASH, NEO and many more. Trading is done vs BTC, ETH and USDT.

Launched a second brand for riskier coins – there is another exchange running on the same technology, called HADAX. The ley difference is the fact, the community votes for the assets to be listed on it. This means they will be the less popular (and riskier) altcoins.

Non-exchange activity – Huobi has done a lot to establish itself as an authority on cryptocrurrencies and something more than an exchange. The company offers a mining pool, a Blockchain Asset Assessment Model, frequent updates on their YouTube channel and attending live events. We believe this is mainly done to clear the somewhat shadier image from the past.

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.

  1. 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.
  2. After signing up, you will be required to verify your ID so as to begin transacting on the platform.
  3. 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.
  4. 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.
  5. Before you begin trading/ exchanging given pairs of cryptocurrencies, you will have to deposit coins into the Huobi exchange platform.
  6. 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.
  7. 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.
  8. 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.

Other exchanges

Rank SiteMargin tradingFiatSafetyAPIReferralLocationLanguagesBuy with User Vote Score
1CoinbaseYesAYesYesSan Francisco, USAENbank transfer, card
(1256 Votes)
9.6
2BitstampNoYesAYesNoSloveniaENEUR, USD
(2441 Votes)
9.5
3BitfinexYesYesAYesNoHong KongENEUR, USD
(4522 Votes)
9.4
4CoingiNoYesAYesYesEuropeEN, CZ, SKUSD, EUR
(325 Votes)
9.3
5KrakenYesYesAYesNoSan Francisco, California, United StatesENUSD, EUR, JPY, CAD
(1124 Votes)
9.2