Huobi Global is one of the largest and most popular cryptocurrency exchanges known for its various features and high liquidity. The company, headquartered in the Seychelles, was founded in 2013 and currently employs over 1,300 people. Its subsidiary and partner companies are located in 12 countries, including the United States, Japan, Thailand, Gibraltar, and others. It also provides services to more than 170 countries.
Contents:
- Huobi Global Overview
- Platform Fees
- Cryptocurrency Exchange Features
- Additional Earning Opportunities
- Huobi Global Token
Huobi Global Overview
Huobi is one of several Chinese cryptocurrency exchanges specializing in cryptocurrency trading. The exchange was registered by Leon Li in 2013, who has previous programming experience at the well-known American company Oracle.
For the first year, only Chinese citizens could use Huobi's services. However, after the ban on cryptocurrency trading in China, the exchange's founders obtained various licenses allowing them to trade not only in the United States but also in Hong Kong (since 2018). An office in Korea was established shortly afterward.
The daily trading volume of the exchange exceeds 1 billion dollars. Security and risk control are the platform's top priorities. Comprehensive protection of user assets with the exchange's autonomous storage, multi-factor encryption, and 24/7 security monitoring. A security reserve fund of 20,000 BTC is in place.
Platform Fees on Huobi Exchange
For spot trading, Huobi offers two multi-tiered rating systems - one for regular users and another for professional users. In addition to the total 30-day trading volume in BTC, your rating is determined by the number of Huobi tokens you hold: the more tokens you have, the greater the discount. Overall, the fees are quite standard compared to other exchanges. Fees for margin trading and fiat currency trading are calculated using a multi-tiered system.
You can check withdrawal fees in your account or in the "Deposit and Withdraw" section. There, you will see the fees for the token you want to send from the exchange. Most fees are industry-standard. Huobi offers a "Fast Withdrawal" option, allowing you to send tokens within Huobi for free. This convenient feature provides flexibility and encourages users to trade on the platform rather than send funds to other exchanges.
Cryptocurrency Exchange Features
In 2020, Huobi launched a platform to provide additional services to institutions and high-net-worth clients. Their over-the-counter (OTC) trading program is designed to offer the best prices and instant order execution. The exchange allows trading with margin and USDT in the form of futures contracts. Regardless of the option you choose, you will have access to a large pool of tokens and trading pairs. These tokens are mainly popular tokens with large and medium market capitalization, as well as some low-cap tokens. These tokens have perpetual crypto derivatives with no expiration date, allowing you to profit from both long and short positions.
Key features of the Huobi cryptocurrency exchange:
| Feature | Description |
|---|---|
| Multilingual | Support for multiple world languages allows Huobi exchange to attract a large number of customers almost every day. |
| Wide Selection of Tokens | The platform allows you to buy both top cryptocurrencies (BTC, ETH, LTC, BCH, XRP) and new, promising cryptocurrencies. |
| Verification | Verification on the exchange is not mandatory. You can trade without it (with some limitations), which is also one of the platform's significant advantages. |
| Trading Bots | It is possible to engage in trading using specialized automated programs (bots). |
The platform also has a compensation fund, which ensures that depositors do not have to worry about their funds being permanently lost due to a hack or cryptocurrency theft. The fund will reimburse lost funds in accordance with the platform's trading rules. Thanks to an advanced loyalty program, Huobi exchange customers can earn additional income by using a referral program and earning 30% of all partner trading operations.
The web platform includes the Huobi DeFi Labs incubator, allowing the exchange to invest in promising startups in the decentralized finance and revolutionary blockchain projects sector. Security levels are at their highest: you can enable SMS authentication when logging into the exchange, link an email address to your account, and activate Google Authenticator.
Additional Cryptocurrency Earning Opportunities
Huobi Earn is a section that allows you to earn effortlessly by investing unused cryptocurrency in provided investment plans and projects. There are several investment options, such as:
- staking and ETH2 staking;
- Primepool and airdrops;
- Polkadot slot auctions;
- deposits with flexible or fixed terms.
There is also a cryptocurrency lending tool, which allows you to borrow cryptocurrency. The platform also has a peer-to-peer (P2P) marketplace that enables the buying and selling of some popular cryptocurrencies and stablecoins for fiat money, trading with other users. Supported cryptocurrencies include:
- Bitcoin;
- Ethereum;
- EOS;
- Litecoin;
- Ripple;
- Tether USDT;
- Huobi Token.
Payment for the order is made without the involvement of the exchange, to the seller's specified account or card.
Huobi Global Token
The Huobi Token (HT) is the native token of the Huobi Global exchange. It is a decentralized digital asset based on the Ethereum blockchain and complies with the ERC-20 standard. The Huobi Token serves several purposes. Among its functions is the ability to purchase VIP status on the exchange, which grants significant discounts on transaction fees. This feature allows Huobi Token holders to reduce their trading costs on the platform. Sometimes these discounts can be used for sending cryptocurrency off the exchange.
Exchange users can purchase a privileged status by paying with Huobi Token. Privileges work on a subscription basis, with a monthly fee required. The highest privilege is a 50% discount on transaction fees. Similar conditions are also offered by Binance, but unlike Binance, privileged status on Huobi exchange is not time-limited. A user who regularly pays for their VIP status continues to receive a fifty percent discount on all operations on the exchange.
