Huobi Exchange Review: A Comprehensive Overview

When evaluating an exchange, fees play a critical role in determining profitability. Huobi Exchange employs a transparent and competitive fee model, making it a preferred choice for traders globally.

Maker And Taker Fees

• Maker Fees: Applicable when you add liquidity to the order book by placing limit orders below the current buy price or above the current sell price.
• Taker Fees: Charged when your order is immediately matched and removes liquidity from the order book.

Fee Discounts for VIPs

Huobi offers tiered discounts for traders in their VIP program, significantly lowering trading costs. VIP levels range from VIP1 to VIP5, with discounts as high as 50%.

Withdrawal Fees On Huobi Exchange

Huobi applies withdrawal fees based on the cryptocurrency network’s mining cost. Here’s a breakdown of withdrawal fees for popular cryptocurrencies:

Key Features Of Huobi Exchange

1. Global Reach and Accessibility:
   • Operates in multiple countries, including Huobi Korea Exchange and Huobi Global Exchange, serving millions of users worldwide.
   • Supports diverse payment methods and local currencies in regions like Bangladesh.
2. VIP Trading Benefits:
   • Fee discounts for high-volume traders.
   • Access to exclusive features like priority withdrawals and account support.
3. Advanced Trading Tools:
   • Offers spot, margin, and futures trading.
   • Comprehensive charting tools for professional traders.
4. Mobile Access:
   • The Huobi Exchange app provides full functionality, including trading, withdrawals, and monitoring price movements.

One of the standout features of Huobi Exchange is its extensive list of supported cryptocurrencies. The platform includes a significant majority of the top 10 coins by market cap, ensuring traders can access popular assets like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).

Key Highlights:

1. Diverse Asset Selection: Over 50 cryptocurrencies are available for trading, providing ample opportunities for portfolio diversification.
2. High Liquidity: Huobi’s order books are highly liquid, making it easier for users to execute trades at competitive prices.
3. Missing Assets: While Huobi supports numerous coins, it surprisingly omits popular ones like Stellar (XLM) and Cardano (ADA), which could be a drawback for some traders.

Overview Features:

The Huobi Exchange app includes a dedicated page for each cryptocurrency, featuring detailed project descriptions, market performance, and direct links to the coin’s website. This user-friendly addition helps traders make informed decisions.

What Makes Huobi Exchange Unique?

1. P2P Trading:

The Huobi Exchange P2P platform is a significant advantage for traders in regions like Bangladesh, where fiat-to-crypto conversions via services like bKash are popular. This makes Huobi Global Bangladesh a standout choice.

2. Advanced Tools:

The platform offers customizable trading tools, an intuitive interface, and mobile support through the Huobi Exchange APK, catering to both novice and experienced traders.

3. Global Reach:

• Huobi Global Exchange operates in several countries, offering localized services like Huobi Korea Exchange and Huobi Netherlands while adhering to global regulations.
• The platform’s Huobi Exchange wallet provides a secure way to store and manage assets.

The Huobi crypto exchange is designed for both beginners and seasoned traders, boasting a user-friendly interface, advanced trading tools, and support for various cryptocurrencies. Users often ask, “Is Huobi a good exchange?” and the answer lies in its global reach, extensive offerings, and commitment to security.

However, questions like “What happened to Huobi Exchange?” and concerns about banned countries highlight the importance of understanding its policies and limitations.

One crucial aspect to consider when using Huobi Global Exchange is its withdrawal limits. These limits vary depending on whether the user has completed KYC verification.

Huobi Withdrawal Limits Table

Analysis Of Withdrawal Limits

• Unverified users can withdraw only 0.1 BTC daily, equivalent to approximately $600 at current prices.
• For high-volume traders, this restriction can be limiting, especially when compared to exchanges like Binance (up to 2 BTC daily for unverified accounts).

Solutions To Overcome Withdrawal Limits

1. KYC Verification: By submitting required documents, users can unlock higher withdrawal limits. The Huobi exchange KYC process is straightforward and ensures compliance with regulations.
2. Alternative Exchanges: Platforms like Binance or HitBTC offer more flexible withdrawal limits for unverified accounts.

Creating an account on Huobi Exchange is straightforward, but it requires some essential details to get started. Here’s how:

1. Easy Signup Process

• To sign up, users must provide a valid email address and select their nationality. While asking for nationality at the signup stage may seem unusual, it aligns with Huobi’s compliance policies.
• After completing the signup form, users receive an email containing a verification code. This code is necessary to activate the account.

2. Beginner-Friendly Platform

• After logging in, Huobi offers an intuitive beginner’s guide that walks new traders through its features, such as the trading dashboard, order forms, and supported cryptocurrencies. This is a standout feature, particularly for those new to crypto trading.

ID verification, or Know Your Customer (KYC), has become a standard across most cryptocurrency exchanges, including Huobi Global Exchange. While some users may view this as an inconvenience, it plays a critical role in ensuring safety and compliance.

Benefits Of ID Verification on Huobi Exchange:

1. Higher Withdrawal Limits: Completing your KYC allows you to increase your daily withdrawal limits significantly.
2. Enhanced Security: Verified accounts are less likely to be targeted by fraudulent activities.
3. Global Compliance: KYC helps Huobi exchange adhere to international regulations, ensuring it operates legally in supported countries.

While privacy-conscious cryptocurrency users might feel hesitant about submitting personal documentation, Huobi Exchange has a strong track record of safeguarding sensitive data.

How To Complete ID Verification On Huobi Exchange

Step 1: Access the Verification Section

• After completing your Huobi Exchange login, navigate to the “Account Verification” section in your dashboard.

Step 2: Submit Required Documents

• Provide a government-issued ID, such as a passport or driver’s license.
• Submit additional documentation, like a utility bill, to confirm your address.

Step 3: Wait for Manual Review

• Huobi manually reviews all verification submissions to ensure accuracy.
• This process usually takes 24 to 48 hours, which is comparable to other exchanges like Binance and Coinbase.

Step 4: Verification Approval

• Once your documents are approved, your account is fully verified, unlocking features like higher withdrawal limits and participation in exclusive Huobi Exchange offers.

One of the standout aspects of the Huobi crypto exchange is its variety of trading platforms, tailored to meet different needs:

1. OTC Markets

• Ideal for users who want to trade large amounts of cryptocurrency directly with other users.
• Simplified interface suitable for beginners.

2. Standard Exchange

• The main trading hub for buying and selling cryptocurrencies.
• Supports a wide range of coins and tokens, including Pi Network and HTX.

3. Margin Trading Exchange

• Designed for advanced traders looking to leverage their trades.
• Offers competitive rates and high limits.

4. HADAX Platform

• A unique feature where users can vote for coin listings.
• Encourages community involvement in listing decisions.

Each platform offers a seamless experience, ensuring that both new and seasoned traders can navigate with ease.

User Interface And Experience

Design and Usability

The Huobi Exchange platform strikes a balance between sophistication and simplicity. Its layout caters to both beginners and advanced users:

• Navigation: All markets are displayed on the left-hand side, allowing quick toggling between cryptocurrencies.
• Order Books: Provides a clear breakdown of buy/sell orders and recent transactions.
• Customizable UI: Users can switch between light and dark modes for a comfortable experience.

Trading Charts

Huobi utilizes TradingView charts, a third-party tool renowned for its advanced technical analysis features:

• Includes tools for drawing, analyzing trends, and identifying patterns.
• Ideal for day traders and technical analysts.

For traders who aim to maximize potential gains through leveraged positions, Huobi Exchange offers a dedicated margin trading platform. Unlike some platforms that integrate margin trading into their main interface, Huobi margin trading operates as a distinct section, enhancing user experience with advanced tools.

Key Features Of Huobi Margin Trading

How To Use Huobi Margin Trading

1. Access the Margin Platform

Navigate to the “Margin” tab in the Huobi Exchange header. This opens a specialized interface similar to the standard platform but equipped with additional tools for margin management.

2. Transfer Margin Funds

To begin margin trading, transfer collateral funds to your margin wallet:

• Locate the “Transfer In” option in the balance widget.
• Move assets from your spot wallet to your margin wallet.

3. Borrow Assets

Head to the Margin Management Tool to borrow assets for trading. This section allows you to:

• Take out loans in supported cryptocurrencies.
• Settle outstanding loans.
• Monitor open margin positions.

4. Execute Margin Trades

Once assets are borrowed, use the order form to place margin trades. Supported order types include Limit, Market, and Stop-Loss orders.

Leverage And Interest Rates On Huobi Exchange

• Leverage Comparison: While Huobi offers up to 3x leverage on most assets, competitors like Kraken provide 5x, and Bitmex offers up to 100x.
• Loan Fees: Daily interest rates depend on the borrowed asset, with USDT at 0.1% and altcoins like BCH and XRP at 0.02%.

Margin Trading Risks

Margin trading involves inherent risks. While leverage amplifies potential profits, it also increases exposure to losses. Before trading, ensure you understand the following:

• Liquidation Risks: Positions can be liquidated if markets move against you.
• Interest Costs: Ongoing interest on borrowed assets can impact profitability.
• Initial Margin Requirements: Ensure sufficient collateral to avoid liquidation.

Initial Margin Formula:

$$\text{Initial Margin}=(\text{Tradable Balance})\times (\text{Loan Multiple}-1)-\text{Total Borrowed Value}$$

Why Choose Huobi For Margin Trading?

Advantages:

1. Dedicated Tools: A specialized platform enhances the margin trading experience.
2. Diverse Asset Support: Trade a variety of assets, including BTC, ETH, XRP, and BCH.
3. Global Reach: Huobi Exchange supports users in regions like Bangladesh, Korea, and the Netherlands.
4. Secure Environment: Advanced security protocols protect user funds and data.

Disadvantages:

1. Lower Leverage: Competitors like Bitmex offer significantly higher leverage.
2. Region Restrictions: Some countries, including the US, have limited access to Huobi services.

The OTC (Over-the-Counter) trading functionality on Huobi allows users to trade directly with others without using the centralized exchange order book. This is similar to platforms like LocalBitcoins but is integrated within the Huobi Exchange platform.

How Does Huobi OTC Work?

• Users can search for buyers or sellers who meet specific parameters, such as payment method, currency, and trade size.
• Huobi facilitates the connection between parties but does not act as the central market maker. Transactions are arranged off the exchange.

Key Features of Huobi OTC:

1. Flexible Trades: Arrange transactions based on preferred payment methods and currencies.
2. Block Trades: Place large cryptocurrency orders that surpass regular OTC limits.
3. Customizable Options: Search for specific terms, such as trading in GBP or USD.

Limitations of Huobi OTC:

• Low Liquidity: The OTC platform shows limited activity, with few orders available at any given time.
• Competition from Other Platforms: Many traders prefer established OTC platforms like LocalBitcoins or LocalMonero for better reputation and liquidity.

The Huobi Exchange app is designed for traders who prefer to manage their portfolios on the go. Available for both iOS and Android devices, the app mirrors the functionality of the web platform, making it versatile and efficient.

Key Features Of The Huobi Mobile App:

1. User-Friendly Interface: The app’s layout ensures easy navigation for beginners and experienced traders.
2. Registration and Verification: Complete account setup, including identity verification, directly from your smartphone.
3. Trading on the Go: Access spot trading, margin trading, and even staking options from anywhere.
4. Custom Alerts: Set real-time price alerts for your favorite cryptocurrencies.

Despite its many strengths, users have mixed opinions about the app. While some praise its design and ease of use, others express concerns about having to download APK files for Android devices instead of using the Google Play Store.

Huobi Exchange Security and Trustworthiness

Many potential users ask, “Is Huobi a good exchange?” or “Is Huobi safe?” Huobi prioritizes user security through advanced measures, including:

• Cold Wallet Storage: Most funds are stored offline to protect against cyber threats.
• Two-Factor Authentication (2FA): Adds an additional layer of account security.
• Regular Audits: Ensures compliance with global regulations.

The platform has also garnered attention on platforms like Reddit, where users often debate is Huobi safe Reddit or share their experiences with its features.

Why Customer Support Matters

For traders, waiting days to resolve an issue can be a nightmare, whether it’s a login problem, a delayed withdrawal, or confusion about trading features. The ability to receive prompt, efficient assistance can make all the difference in your trading journey.

With Huobi Exchange, customer support is a standout feature. Huobi has invested heavily in its support team, ensuring a seamless experience for users across the globe.

Key Features of Huobi Customer Support

1. 24/7 Availability

Huobi was one of the first exchanges to implement 24/7 customer service, a move that caters to its global user base. Whether you’re a trader in Huobi Korea Exchange, Huobi Global, or Huobi Bangladesh, you can reach support anytime.

2. Multiple Support Channels

Huobi provides two main ways to connect with its support team:

• Live Chat: The chat feature on the Huobi Exchange app and platform is a convenient tool. Users can simply click on “Contact Us” to initiate a live chat session with a representative.
• Email Support: For detailed queries, users can email the support team. Ensure you use your registered email and include your Huobi Exchange login details (e.g., user ID) for faster resolution.

3. Comprehensive FAQ Section

Before reaching out, it’s worth exploring Huobi’s FAQ section. It’s filled with guides, troubleshooting tips, and answers to common questions like “Is Pi Coin listed on Huobi Exchange?” or “How does Huobi P2P trading work?”

What Sets Huobi’s Support Apart?

1. Rapid Response Time: Compared to competitors like HTX Huobi Exchange and other platforms, Huobi’s chat feature ensures quicker responses.
2. Global Coverage: Whether you’re accessing Huobi Global Exchange in supported countries or troubleshooting restricted access in Huobi banned countries, their support team is knowledgeable about regional nuances.
3. Specialized Assistance: Support staff are well-versed in issues specific to Huobi, such as understanding Huobi Exchange wallet features or resolving Huobi Exchange pi network inquiries.

Pros and Cons of Huobi Customer Support

Pros:

• 24/7 Availability: Always there when you need them.
• Multiple Channels: Flexibility to choose between chat and email.
• Global Reach: Support tailored to different regions, including Huobi Netherlands and Huobi Bangladesh.
• Efficient Problem Resolution: From login issues to explaining Huobi Exchange ranking, the team is prepared to help.

Cons:

• Occasional Delays: During peak periods, chat wait times can increase.
• Limited Languages in FAQ: The FAQ section may not always cater to non-English users.

Common Issues Resolved by Huobi Customer Support

1. Account Access: Problems with Huobi Exchange login or account recovery.
2. Fee Clarifications: Understanding Huobi Exchange withdrawal fees and other charges.
3. P2P Transactions: Assistance with Huobi Exchange P2P trading.
4. Pi Coin Queries: Questions about the Huobi Exchange Pi network and its pricing.

Huobi’s referral program is a standout feature that allows users to earn up to 30% of trading fees from their referred friends. Here’s how it works:

Key Highlights Of The Huobi Invite Program:

1. Cashback Rewards: Receive rewards in USDT or points for every trade your referred friends execute.
2. Leaderboard Competition: Engage in friendly competition as Huobi maintains a leaderboard displaying top referrers.
3. Time-Limited Cashback: Rewards are only applicable for three months from the referred trader’s registration date.
4. Trading-Volume Dependent: Ensure your referrals are actively trading to maximize rewards.

While this program is lucrative, it’s important to note that cashback applies solely to trading fees, not deposit or withdrawal charges.

Is Huobi Safe And Legit?

Questions like “Is Huobi safe?” and “Who owns Huobi Exchange?” are common among potential users. Huobi is a legitimate exchange with a solid reputation in the cryptocurrency space. Owned by HTX, the platform adheres to global regulatory standards, making it a trusted name.

Security Measures:

• Cold Wallet Storage: Keeps the majority of funds offline to prevent hacks.
• KYC Compliance: Ensures secure account creation.
• Regulatory Oversight: Huobi adheres to rules in supported countries, making it a viable choice for users worldwide.

Huobi Exchange Fees And Offers

Huobi’s fee structure is competitive, catering to high-volume traders with attractive discounts via HT token usage.

Trading Fees:

• Maker fees start at 0.02%, and taker fees at 0.04%.
• Additional discounts are available for VIP users or HT holders.

Withdrawal Fees:

• Cryptocurrency withdrawal fees vary based on the asset but are generally affordable compared to competitors.

Exclusive Offers:

• New users often enjoy reduced fees or welcome bonuses under Huobi Exchange offers.

Huobi In Specific Regions

1. Huobi Global Exchange

Operating in over 170 countries, Huobi remains a leader among international platforms. However, it is important to check for banned countries and supported countries before registering.

2. Huobi Korea Exchange

Tailored to Korean users, this version offers local language support and region-specific trading options.

3. Huobi Bangladesh and Payment Options

For users in Bangladesh, Huobi facilitates P2P trading and supports fiat transfers, including integrations like Huobi to Bkash.

Huobi Exchange And The Pi Network

Huobi gained traction with its inclusion of the Pi Network, raising questions about Pi value in Huobi Exchange and whether Pi Coin is listed on Huobi Exchange. The integration highlights Huobi’s forward-thinking approach to emerging crypto projects.

If you’re a trader interested in coding your own trading bots, the Huobi WebSocket and REST API provide powerful tools to automate and enhance your trading experience. These APIs allow seamless access to market data and enable account management for advanced trading strategies.

Generating Your API Key

To begin using the Huobi API, you need to generate an API key. Follow these steps to ensure secure access:

1. Navigate to the API Management Section:
   • Log in to your Huobi account and locate the API management page.
   • Here, you’ll find a form requesting the IP addresses you want to bind to your API key.
2. Bind IP Addresses:
   • For enhanced security, Huobi recommends binding your API key to a maximum of four IP addresses.
   • This step prevents unauthorized access to your account.
3. Confirm Key Creation:
   • Verify the creation of the API key using the confirmation code sent to your registered email.
   • Once confirmed, your API key is generated and ready for use.
4. Edit or Create New Keys:
   • You can modify or generate a fresh API key if needed to adapt to evolving security requirements.

Best Practices For API Key Security

• Never Share Your API Key: Sharing your key can compromise your account, allowing unauthorized access or price manipulation.
• Monitor Access: Regularly review API usage to ensure no suspicious activity.
• Use Limited IP Binding: Restricting the key to specific IP addresses reduces the risk of external threats.

Choosing Between WebSocket And REST API

1. Huobi WebSocket API:
   • Ideal for retrieving real-time market data, updates, and notifications.
   • Suitable for traders requiring instant insights into market movements.
2. Huobi REST API:
   • Best for placing trades, managing orders, and accessing account-related data.
   • Enables full integration with trading bots for executing complex strategies.

When considering any centralized exchange, security is one of the most critical aspects. Is Huobi a good exchange when it comes to safeguarding user funds? Here’s a detailed look at how Huobi prioritizes security.

No History of Hacks

Unlike some other exchanges that have suffered major breaches (e.g., Mt. Gox or Bitstamp), Huobi Exchange has maintained a spotless record, having never been hacked since its inception over 5 years ago. This speaks volumes about its advanced Huobi security measures.

Advanced Risk Controls

Huobi credits its success in preventing security breaches to its robust risk control systems, which draw from methodologies used by top financial institutions like Goldman Sachs. These measures include:

• Decentralized Exchange Structure: Designed to reduce the impact of DDoS (Distributed Denial of Service) attacks.
• Continuous Monitoring: 24/7 surveillance of trading and account activities.

Huobi User Protection Fund

Huobi has gone beyond traditional security measures by introducing the Huobi User Protection Fund, a unique feature in the crypto industry.

How It Works:

• 20% of Net Revenue: Huobi uses 20% of its net trading revenue to buy back Huobi Tokens (HT) and allocate them to the protection fund.
• Compensation for Losses: This fund is reserved exclusively for covering user losses in case of security breaches or hacks.

The exchange also maintains a Huobi Security Reserve, storing 20,000 BTC to serve as insurance against potential breaches. These measures ensure that Huobi Exchange users have an extra layer of protection against unforeseen incidents.

User-Level Security Measures

In addition to platform-wide security, Huobi Global Exchange emphasizes user-level protection. Here’s how Huobi ensures the safety of individual accounts:

Two-factor authentication (2FA)

• Provides an added layer of security by requiring a second authentication step for account access.
• Users are advised to activate 2FA immediately upon setting up their account.

Cold Storage for Funds

• While the platform encourages trading activity, users are recommended to store the bulk of their holdings in hardware wallets for enhanced safety.

Regular Security Updates

• Huobi implements routine updates to its infrastructure and security protocols to stay ahead of emerging threats.

1. Global Accessibility and Supported Countries

Huobi Exchange operates in numerous regions, including Asia, Europe, and parts of Africa. The platform’s P2P trading options, coupled with support for various fiat currencies, make it accessible for a global audience. Countries like Bangladesh even enjoy tailored features like Huobi to bKash transfers.

2. Huobi App and Usability

The Huobi Exchange app is user-friendly, allowing traders to access their accounts, place trades, and manage wallets seamlessly. Available on both Android (Huobi Exchange APK) and iOS, the app ensures accessibility across devices.

3. Diverse Trading Options

• Spot Trading: Trade a wide range of cryptocurrencies with competitive fees.
• Margin Trading: While not as high as competitors like Bitmex, the leverage offered is sufficient for moderate risk-takers.
• Earn Features: With Huobi Global Earn, users can stake cryptocurrencies and earn rewards, making it more than just a trading platform.

4. Security and Reliability

Huobi employs stringent security measures, including cold storage, two-factor authentication, and real-time monitoring, ensuring a safe trading environment. If you’re asking “Is Huobi a good exchange?” or “Is Huobi safe?”, the answer is yes, based on these robust protocols.

While Huobi Exchange offers numerous advantages, there are areas where improvement is needed:

1. Restrictive Withdrawal Limits

For unverified accounts, the withdrawal limits are notably restrictive. While regulatory compliance is necessary, Huobi could explore ways to provide more flexibility for anonymous traders while adhering to KYC regulations.

2. Limited Leverage on Margin Trading

Compared to competitors like Bitmex, which offers up to 100x leverage, Huobi’s leverage levels are lower. Increasing leverage options would appeal to high-risk traders looking to amplify returns.

3. Lack of Some Popular Coins

Despite hosting a vast array of cryptocurrencies, Huobi Exchange excludes some widely traded coins like Stellar (XLM) and Cardano (ADA). Expanding the range of supported tokens could enhance its appeal.