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Huobi

Huobi is just another crypto trading website. It also has applications available on the Google Play Store and the App Store for iPhones. To give a positive start, I liked that they have added a ChatBot on their home page for assisting users. When I asked how to buy cryptos on Huobi to the ChatBot, it responded with a step-by-step procedure, along with a YouTube API to their tutorial.

Huobi Exchange is considered to be one of the best exchange exchanges for the trading of cryptocurrencies. Founded in 2013, we can say that it has a lot of experience in the field of cryptocurrencies and is trustworthy, reliable, and allows its users to make an efficient trade.

Huobi has now become the world’s 4th largest cryptocurrency exchange and has expanded its offices in Japan, Hong Kong, Mainland China, and Korea. More a than thousand employees are currently working for Huobi.

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Features of Huobi

Some of the key features of using Huobi are:

  • Huobi helps manage your assets and allows you to trade with up to 5 times the leverage for spot trading.
  • Another great feature is that it enables you to buy cryptocurrencies with your credit cards via their partners.
  • Client funds are stored in dedicated multi-signature cold wallets along with 24/7 security monitoring. There is also a dedicated 20,000 BTC Security Reserve Fund.

Fee structure

Now we know how big Huobi is in the crypto trading market. So the question that arises is that how does it make money? The answer is simple and that is, by taking a small percentage as a fee from any transactions or withdrawals you make.

Huobi takes 0.2% as a fee for all assets which is very low as compared to that of Coinbase and Bitstamp. Whenever you make a withdrawal request, a very minimal fee is charged on that also. This fee depends on the crypto that you are trying to withdraw. For example, the withdrawal fee for Bitcoin is 0.001%, whereas the withdrawal fee for Ethereum is 0.01%.

Products and services provided by Huobi

Huobi provides a service call Huobi Mining Pool. Huobi Mining Pool is one of the largest mining fields in the crypto industry right now. It was launched in 2018, and since then, its hash rate has increased like anything. It is a subordinate of Huobi Exchange.

Huobi Global also introduced its very own crypto wallet called Huobi Wallet. Some of the key features provided by this service are:

  • It supports multiple currencies and allows value to circulate faster and better.
  • Users have complete control over their digital assets and allow them to manage their own private keys. Data is correctly encrypted to ensure the safety and security of users’ information.
  • Huobi wallet has a simple and sleek design, thus providing a best-in-class user experience and interface. With just some clicks, you can add and manage digital assets.
  • Easy and convenient as no registration is required with a minimal fee.
  • It supports over a thousand cryptocurrencies.

To sum up the review

Huobi is a big name; therefore, there is very little scope of dissatisfaction. Even though there are many other good options available for crypto-trading, Huobi continues to be a leader for its experience in this domain and the excellent services and user experience it provides at low costs to all the users globally.

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