Huobi Exchange Review 2020

Huobi was originally founded in 2013 with their offices based in China. Due to the changing regulatory landscape around Bitcoin and other cryptocurrencies in China, Huobi moved their exchange operations out of the country in 2017. The crypto exchange is mostly known for their strong trading volumes in the Asia market.

Huobi Overview

huobi exchange logo

Huobi

  • Easy & quick sign-up process
  • Has one of the largest lists of tradeable assets of any exchange on the market.
  • Very good customer service
  • Offers a non-custodial wallet called the Huobi Wallet
 

General Overview of Huobi

The Benefits PRO's
  • Quality customer service
  • Strong liquidity is available for traders
  • Huobi has never lost users funds due to hacking
  • There are a wide variety of different crypto assets available for trade on the platform
The Downside CON's
  • In the past, Huobi has faced accusations of faking their trading volume data
  • Huobi’s platform for U.S. customers ceased operations in 2019

Huobi at a Glance

Users
2+
million
Volume
600+
million
Trust rating
medium
Overall rating
high

Funding Methods

Funding Method Deposit Withdrawal Speed
Bank Account (ACH) No No n/a
Credit Card Yes No Instant
Debit Card Yes No Instant
Wire Transfer Yes Yes 1-3 Days
Cryptocurrency Yes Yes 5+ minutes

Sign-up Process at Huobi

The sign-up process for Huobi is relatively short and simple. The base information that must be provided to create an account includes:

  • Nationality
  • Email address
  • Password

It should be noted that users will not be able to make a deposit unless they go through additional levels of verification. Most exchanges require that you go through an extensive KYC (Know Your Customer) process in order to remain compliant with local regulators. In the end, this offers you a layer of comfort, knowing that the exchange is doing their best to protect themselves, and their users. It is the compliance with these regulations, along with their attention to security that ultimately protects your funds.

What You Can Buy

Huobi has one of the largest lists of tradeable assets of any exchange on the market. The list of available crypto assets includes:

Huobi Supported Applications

Huobi is available through all major desktop operating systems, and there are also mobile apps available for Android and iOS users. There is also a non-custodial wallet offered by Huobi called Huobi Wallet. The Huobi wallet supports many of the features that are trending in the cryptocurrency space such as staking, and general rewards for using the wallet. Check out the Huobi wallet announcements page for the latest updates on how you can earn additional cryptocurrency simply by using the wallet.

Is Huobi Safe?

Absolutely. Huobi has been on of the leading cryptocurrency exchanges since 2013 and has built a stellar reputation in that time span. It initially raised money with the world-renowned venture capitalist firm Sequoia Capital to give you an idea of the kind of companies that Huobi has partnered with in the past.

Huobi utilizes all the latest security features for exchanges with client’s funds held in dedicated multi-signature cold wallets and 24/7 system monitoring. The exchange also has a 20,000 BTC security reserve fund.

There have been several incidents over the years that have led to customers losing a small amount of funds but the company has been quick to respond and reimburse them entirely, which is always a good sign.

Fees

Huobi Global initiated a tiered fee structure in 2019. The fees paid for trading on the exchange will decline as a customer’s monthly trading volume increases. Maker and taker fees will be 0.2% for the first $5 million worth of trading, but the fees decline quite substantially after that. This is quite a common approach to structuring fees, as it incentivizes the user to spend more time trading on their platform in order to increase their overall profits.

Huobi FAQ

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