Huobi Review – Is Huobi Actually Legit?
If you’re considering launching the business of your dreams online, then you might be interested in looking into Huobi. This company is a crypto-based investment platform that provides a variety of services, such as mining, exchange, and more. But, you may be wondering if it’s legit. We’ll discuss some of the crucial questions you need to consider before deciding to use the service.
Overview
Huobi is a popular exchange. Huobi platform is one of the most popular exchanges around the world. With more than 3 million account holders on active accounts, it offers an array of features.
Huobi offers a variety of security features to ensure user safety. Two-factor authentication (also known as 2FA) helps add a further layer of protection. Furthermore, it offers an insurance plan for its users.
Huobi provides a variety of cryptocurrencies, which include Litecoin as well as Bitcoin. Trading fees are very competitive. Additionally, Huobi provides margin trading that allows you to purchase a coin without undergoing any complex computation procedures.
Huobi is located in Singapore. Additionally, it has offices in various countries. These include Thailand in addition to Japan.
Huobi’s user base is spread in 130 nations. Users can access the exchange via the web browser or mobile app. It is also possible to contact the customer support team of the company or email them.
Huobi’s website is easy to navigate. It’s well-organized and offers information on the market depth and price feeds. In addition, it provides an extensive FAQ section.
Huobi has been working closely with Chinese cryptocurrency startup Nervos. The company launched its first testnet in November. company has launched a testnet to test its project.
What is Huobi?
Huobi is among the world’s largest crypto exchanges. It offers a wide variety of trading options and security features. This makes it a preferred option for both professionals and newcomers alike.
Huobi has offices in a number of countries. It began in China and expanded globally. Their main office is in the Seychelles, a location that is well-known for its crypto-friendly regulatory environment.
Huobi offers distinct platforms for futures and spot trading. Apart from offering an advantage for crypto that is spot-based, the company also provides tools to automate strategies.
Huobi provides two-factor authentication as well as a Whitelist safety feature. The first lets traders make the list of their withdrawal addresses. The latter is an effective security measure that blocks unauthorized users from accessing their accounts.
Huobi also gives users with access to the OTC market. The market permits peer-to-peer trading, and also gives traders more freedom to choose the prices they want to set. The traders can also choose the timeframes they want to use.
Huobi is currently focusing on stable coins backed with the US dollar. Stable coins are less volatile and have lower market risk.
How does it work?
Huobi is one of the biggest cryptocurrency exchanges on the planet. Huobi has an impressive history and provides an array of services. The company is located in Singapore.
In order to open accounts on this platform, you must first confirm your nationality and legal name. Additionally, you will need to give a residence address and the number of your phone.
Additionally, you will need to also add the two-factor verification (or 2FA) to your account. This will enhance your security and offer a sense of security.
While you are at it, you can opt to purchase an insurance policy which covers your money. The security measures taken by the company are of top quality.
But, there are a few downsides to the company. One is its very strict withdrawal limit. These limits differ based on the current market conditions. For instance, Litecoin has a withdrawal limit of five dollars per day, while Ripple (XRP) has a maximum daily withdrawal of 2500.
Another downside is the withdrawal fee charged by the exchange. The fee is not fixed and is based upon the type of currency that you choose.
Are they Legit?
If you’re in search of a safe, secure and reliable platform to make trades, Huobi is one of the most reliable options. It provides a wide variety of coins and crypto assets and the required tools to facilitate trading.
In the last couple of decades, Huobi established a reputation for its own. Although many exchanges have been closed or are starting to roll out new features, Huobi has survived and is now one of the most trusted cryptocurrency exchanges there.
One of the benefits of trading with Huobi is that the website is accessible from a wide variety of platforms. You can use the mobile or desktop apps or even your browser.
The company employs a mix with cold storage systems as well as a distributed system to make sure that your money is safe. Even so, it’s not always the best idea to save all your assets in the cloud. If you’re willing to go the extra mile, save your money in a wallet that is physically stored.
But you must be aware that Huobi doesn’t come without its flaws. For example, it has the maximum withdraw limit for withdrawals of 2.5 for the ETH currency in addition to 0.6 for BCH.
History
Huobi is one of the largest cryptocurrency exchanges in the world. It offers an extensive list of cryptocurrency assets and trading pairs. Alongside regular trading methods, it also provides derivatives markets and OTC trading. The company is represented in Korea, Singapore, Hong Kong, and the US.
Since its inception in 2013, Huobi has established itself as a leading company in the industry. While its initial focus was exclusively on China, Chinese market, the team knew that they could create a splash in other regions also. So, they started exploring the markets of Asia and Japan.
One of the most important features of Huobi is the capability to borrow and lend money using Huobi Loans. Huobi Loans function. This allows users to collateralize their own cryptocurrency assets and earn interest on the loaned funds.
Another unique feature that is unique to this product User Protection Fund. This fund acts as protection for customers in the event of an unexpected event.
To protect users, Huobi also employs two-factor authentication (also called two-step verification) on the platform. In order to login, users will be asked to enter a password and email. Users will also be required to provide additional details such as a number.
Features
Huobi is a Cryptocurrency exchange. Founded in 2013, it has since grown to become an industry leader in the market with its outstanding service and features. It offers a wide range of financial products including futures and spot cryptocurrency trading as well as staking and lending.
Huobi’s website is simple navigate and offers a wealth of useful tools for customers. The platform is accessible on both mobile and desktop. With over 1000 crypto pairs available, traders are able to trade on the move.
Huobi offers two-factor authentication, that allows users to protect their accounts using an account password and a number they get via their mobile. Customers can also establish the “Whitelist” to limit unauthorized access.
Huobi has a user protection fund that will compensate any losses caused by cryptocurrency assets. This protection feature protects against unforeseeable incidents, which means that the your funds are safe.
Huobi also has the only staking service that is unique, The Dual Currency Investment. The product lets users earn more BTC. By participating in staking, users can increase their profits while minimizing risk.
Huobi’s wallet is highly secure, using advanced technology to ensure secure asset management. Users are also able to backup their wallets with multiple backup options.
Services Provided
Huobi is among the leading digital asset exchanges in the world. It has been operating since 2013 and offers the ability to trade different digital currencies. It has built up a massive client base and is growing to many nations.
In addition to a trading system, Huobi offers a wide range of other services. This includes the lending platform, an insurance policy, and an option for crypto loans.
Huobi offers a range of security features and has an impressive user base. Users can avail two factor authentication for transactions.
Another feature is the User Protection Fund. This fund provides insurance that safeguards users’ assets when trading. There are several different channels to contact the customer service team that include a phone line and an online chat.
Huobi offers a broad selection of supported cryptocurrencies such as bitcoin, Litecoin, and Ethereum. They also offer the margin trade, spot trading, along with derivative products.
The website offers a range of options that include an education section. It’s goal is to provide high-quality digital-assets transaction services.
Supported Coins
Huobi is among the biggest and most well-known crypto exchanges in the world. It offers an extensive list of tokens and currencies which include ICO coins. The exchange also provides customers with a variety in margin options.
Huobi is a global exchange with more than 1,300 employees and numerous offices in various countries. The exchange provides a wide variety of services, and its website is easy to navigate and comes with charts tools.
Huobi accepts more than 100 cryptocurrency and a wide selection of ICO tokens. Huobi has a stipulation that users must confirm their nationality to verify that they’re not from a nation that does not allow the use of cryptocurrency.
Huobi Global has over $4 billion in daily trading volume, and provides 24/7 customer service. Customers can also buy an insurance policy to safeguard their assets. Investors are also able to access informational materials on the market.
Huobi is a global network with collaborations in 12 countries. Users can select from a variety of cryptocurrencies and can accept two FIAT currencies.
Pros
Huobi is a trusted cryptocurrency exchange, with a few attractive features. It is a good option for beginner and mid to high-end traders.
One of the major attractions of this exchange is the sheer number of assets that are available to users. Huobi offers over 350 cryptocurrencies as well as some lesser known ones as well. The exchange offers a long range of security options such as two-factor authentication in messaging via SMS, multi-signature protocol, and cold storage devices.
The Huobi site is modern in its style and is simple to navigate. There are many varieties of payment options, however certain methods aren’t available in the majority of countries.
Apart from the exchange however, there are other financial services offered by Huobi like money and loans. These might not be as convenient or secure as some of other options however they offer some convenience.
If you need assistance there’s a helpful help center on the site and an extensive section on education. Users can find videos, articles, as well as there is a FAQ area.
Cons
Huobi is a leading digital asset exchange and wallet provider. The exchange is available across more than 130 nations around the world. There are offices located in Japan, Hong Kong, and South Korea.
Huobi has a great selection of trading markets. It offers more than 300 cryptocurrencies that it can exchange. This platform is great for novices and advanced traders. There are however some disadvantages that traders should consider before making a decision.
Huobi comes with a range of features that enhance the overall user experience. For example, the interface is sleek, and the site loads quickly. Additionally, the website includes a section for education that includes articles on investing. There are Subreddits, Instagram along with Telegram channels to keep you updated with the latest developments in crypto.
Another advantage that makes Huobi a good alternative for new users is the possibility to withdraw cash. You can use your credit card to withdraw cash using a debit card. Additionally, Huobi has a rewards system for its customers. Traders are eligible to earn a bonus upon the first deposit, get fees discounts on specific Holdings of HT, and earn daily rewards.
KYC
Its Huobi platform is a great source for anyone looking to trade digital currencies. It has a huge range of markets, including more than 350 cryptocurrency. They also provide tools to help you trade.
If you are interested in joining Huobi, or join the Huobi platform, you will first need to complete their KYC process. This process is completed via a secure and safe portal. You will be asked to upload a photograph of your identification documents. Depending on where you live you might be required to submit additional documents.
The verification process takes approximately 10 minutes to be completed. Once you have completed the verification, you will be able to buy cryptocurrencies. There are four stable coins available to pick of: BTC, ETH, LTC and Litecoin.
Once you’ve chosen your option Once you’ve made your choice, you’ll be asked to select your preferred method of payment. Credit cards are accepted and bank transfers as well as international wires. Certain banks may prohibit the withdrawal or deposit of funds.
Huobi has a variety of security precautions in place, like the multi-signature security system. This means that multiple parties must approve each withdrawal. To give you an additional protection, sign up for two-factor authentication.
Trading
If you are seeking to trade within the crypto market, Huobi might be the exchange that is right for you. Huobi has gained an impressive reputation in the industry and is a secure place to invest. This company also is renowned for its superior level of cyber security.
One of the most impressive Huobi’s features is its User Protection Fund. It is designed to safeguard users from losses that are not planned. The traders are required to submit identification documents to recover their funds. This is an important benefit for many customers.
In addition to their exchange service, Huobi has other offerings. They provide loans, derivatives of coins and staking. Users also gain VIP account tiers depending on their EXP.
While Huobi offers a variety of features, it’s not easy to pick a favorite. Most of the time you’ll have the same experience across all platforms. There are however some notable variations.
For example, the Huobi trading bot is automated and includes a built-in cost range calculation. Furthermore, Huobi offers a wide range of cryptocurrency. Although there are many other exchanges to choose from, Huobi stands out.
Fees
Huobi is a crypto exchange that provides a wide range of services, such as margin trading and stakestaking. It is also a relatively secure platform to trade on. However, the exchange does have some downsides.
For instance, Huobi doesn’t offer a platform for US citizens. But, the company has plans to expand its operations in the U.S. By 2020 US residents will also be able to trade with the exchange.
The good news is that Huobi has been working to ensure that they are in compliance with the laws of the US that could make them an international leader in the exchange market. Huobi is currently a part of the Blockchain Transparency Institute, which requires strict AML procedures.
Another advantage for Huobi is the fact that it comes with an API stack that allows experienced traders to automatize their trading strategies. Huobi also has tools for creating chart patterns. Investors who don’t have time to study the latest information or trends can make use of the site’s simple charting interface.
A single of the significant features offered by the exchange includes the User Protection Fund, which serves as an insurance policy for users. When your user account gets compromised, Huobi will reimburse you in the same amount of money.
Limits
Huobi is a leading crypto exchange that provides traders with a wide range in trading choices. It is not only an exchange for buying and selling digital currencies, but also a platform for trading derivatives and futures.
Currently, there are more than 600 digital currencies available on Huobi’s exchange. These comprise Bitcoin, Ethereum, and other. The currencies can be bought via the website. Customers can make purchases using credit cards, bank transfers as well as popular payment apps like PayPal and Apple Pay to make instant cryptocurrency purchases.
Huobi’s exchange is an elegant and user-friendly interface. It is able to distill a vast amount of data quickly and efficiently. There is also a comprehensive API stack that helps experienced traders to streamline their strategies.
There are two kinds of offers available at Huobi such as withdrawal and deposit offers. The latter are only available for a limited time. To deposit money, users have the option of using a USD 1,000 deposit limit.
Withdrawal limits vary for different users. Users who have verified their identity can take up to 100 BTC every 24 hours. Unverified users are able to withdraw as much as 0.1 BTC per day. Based on the amount cash withdrawn, interest might be applicable.
Security and Safety
Safety and security are of the utmost importance for a cryptocurrency exchange. Happily, Huobi has done an excellent job of enhancing security for its customers. Through the use of a variety of bank-like methods, Huobi ensures safe transactions.
In 2018, Huobi Global launched the Investor Protection Fund. This fund protects investors in case of trading risks. It also ensures that funds are safe from external threats.
Huobi’s risk-control strategy is expanding. In addition to the Anti-Romance scam plan, Huobi is educating its customers about scams that could be a possibility. This includes sending risk reminders via SMS and emails.
Users must undergo advanced authentication to be permitted to trade on Huobi. Huobi demands two-factor verification on all accounts. If the identity of the user is not verified, they will not be able access their account.
Huobi also offers multiple backup options for users. It offers a Cold Wallet, which is an offline device used to store valuables. As opposed to hot wallets cold wallets aren’t vulnerable to hacking and theft.
Huobi’s Cold Wallet also provides an additional layer of security for assets. Additionally, the system permits users to add several backup options to the device and make it less vulnerable to hacking.
Customer Support
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