Huobi: A Crypto-to-Crypto and Fiat Exchange
With a strong foothold in the Asian market, Huobi Global is one of the most well-known cryptocurrency exchanges in the world. Huobi, founded in 2013, offers a comprehensive digital asset ecosystem that includes spot trading, derivatives trading, staking, crypto loans, and crypto yield products.
History and Origins of Huobi
Huobi’s history begins with Leon Li, a former Oracle developer who purchased the Huobi domain in 2013 and later that year began trading BTC live trading. Huobi raised money from major investors, including Sequoia Capital, to capitalize on the growing Chinese Bitcoin market.
Huobi proved that gaining traction in the crypto market isn’t tough by turning over $4 billion in its first three months. By 2014, the exchange had doubled its revenue and met Asia’s digital asset exchange needs.
Huobi’s 2016 revenue was estimated at $247 billion, over half the worldwide cryptocurrency exchange market share. But, as we all know, the crypto market is volatile.
However, changes in Chinese law forced Huobi to transfer its crypto trading services outside of China in 2017. The company then relocated its headquarters to Singapore and established a new entity in Seychelles to expand into other Asian markets globally.
Huobi now has its own blockchain, Huobi Eco Chain, Huobi Token (HT), and HUSD, a dollar-backed stablecoin. Huobi Global claims millions of users in over 100 countries.
Key Features of Huobi
For registered users, the Huobi exchange offers the following:-
A Comprehensive List of Trading Pairs
Huobi has substantial liquidity in major cryptocurrency trading pairings. The exchange currently supports over 400 different cryptocurrencies.
User-Friendly Interface
The Huobi website is easy to use and blends functionality, visual appeal, and elegance. The trading interface is structured with price feeds, charting tools, and market depth data. Huobi’s professional UI and functionalities enhance the HADAX crypto market that supports smaller tokens and altcoins.
Low Trading fees
Trading fees are also relatively inexpensive, as the exchange levies a flat rate of 0.2% to both makers and takers. A user’s trading costs drop the more Huobi Tokens they have in their exchange wallet.
Margin Trading
The site also allows bitcoin (BTC) and Litecoin (LTC) margin trading with 5x leverage and a 0.1 percent 24-hour charge.
Flash Trade
This innovative Huobi feature combines an order book, a chart index, and a market chart. Flash Trade allows customers to trade real-time volume, especially amid volatile markets.
Multi-Platform Compatibility
Huobi platform is supported on Mac, Windows, iOS, and Android devices.
Cybersecurity
Huobi has strong security measures. The platform is based in Singapore, where advanced crypto rules foster blockchain startups. It offers several security measures to protect customers’ accounts, including 2-factor authentication via SMS and Authenticator apps.
Customer Service That Is Swift
Huobi replies quickly to queries. Its customer service team is very easy to reach. Any trading concerns are addressed within an hour by the customer support service.
Final Thoughts
Huobi Global is a popular choice for seasoned cryptocurrency traders because of its high levels of liquidity, extensive support for a wide range of cryptocurrencies, and wide range of yield-generating opportunities.
A lack of regulatory compliance by Huobi Global, on the other hand, is hindering the exchange from reaching a broader global audience of users. Inexperienced users may also have difficulty navigating Huobi due to the sheer amount of products and services it offers.
