Huobi Review – Is Huobi Really Legit?
If you’re thinking of starting the business of your dreams online, then you might be interested in exploring Huobi. This company is a crypto-based investment platform that provides various services, which include mining, exchange and many more. However, you might be wondering if it’s legit. We’ll discuss some of the important questions you should consider prior to making a decision to sign up for the service.
Overview
The Huobi platform is among the most well-known exchanges in the world. With more than 3 million active account holders It offers a variety of options.
Huobi provides multiple security mechanisms to ensure user safety. Adding two-factor authentication (also called 2FA) helps add a further layer of protection. In addition, it comes with an assurance policy that protects its customers.
Huobi provides a variety of cryptocurrencies, including Litecoin along with Bitcoin. The fees for trading are competitive. Moreover, Huobi provides margin trading that allows you to purchase a coin without undergoing any complicated computational processes.
Huobi is headquartered in Singapore. In addition, it has offices in several other countries. They include Thailand in addition to Japan.
Huobi’s user base spans in 130 nations. Users can connect to Huobi’s exchange using a web browser or mobile app. You can also contact the company’s customer support representatives or email them.
Huobi’s website is simple to navigate. It is well-organized and provides details on market depth data and price feeds. Moreover, it offers an extensive FAQ section.
Huobi has been working closely with Chinese blockchain startup Nervos. In November, the group has launched a testnet to test its project.
How do you define Huobi?
Huobi is one of the biggest cryptocurrency exchanges in the world. It offers a wide variety of trading options and security features. This makes it a preferred option for professionals and novices alike.
Huobi has offices in several countries. It began in China and expanded globally. Their headquarters are in the Seychelles the Seychelles, a country that is known for its crypto-friendly regulatory system.
Huobi has distinct platforms for futures as well as spot trading. Apart from offering the leverage of spot cryptocurrency, it also offers tools for automating strategies.
Huobi offers two-factor authentication and a Whitelist safety feature. The former lets traders create the list of the addresses they wish to withdraw from. This is a powerful security feature that stops unauthorized users from accessing their accounts.
Huobi also gives users with access to the OTC market. The market permits peer-to-peer trading and gives users more freedom to choose price for themselves. Traders are also able to set the timeframes they want to use.
Huobi is currently focusing on stable currencies backed with the US dollar. Stable coins are less volatile and have less market risk.
How does it work?
Huobi is one of the largest cryptocurrency exchanges in the world. It has a stellar performance record and offers an array of services. The company is located in Singapore.
To open accounts on this platform, you must first confirm your nationality and legal name. You will also need to give a residence address and an address and phone number.
In addition to this, you will need to add the two-factor verification (or 2FA) to your account. This will improve the security of your account and give you sense of security.
While you are at it, you can opt to purchase an insurance policy which covers your money. The security measures implemented by the firm are top notch.
There are however some negatives with the business. One of them is the extremely strict withdrawal limits. These limits vary depending on the current market condition. For instance, Litecoin has a withdrawal limit of 5 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 set and depends on the currency you choose.
Are they Legit?
If you’re in search of an incredibly secure, safe and reliable place to trade, Huobi is one of the top options. It offers a variety of crypto assets and coins as well as the necessary tools that help you trade with ease.
In the past few decades, Huobi established a reputation for itself. While many exchanges have closed or are beginning to roll out new features, Huobi has remained and is now one of the most reliable cryptocurrency exchanges there.
One of the advantages of trading with Huobi is that the site is accessible from a wide array of platforms. You can use the mobile or desktop apps as well as your web browser.
The company uses a combination with cold storage systems and a distributed architecture to ensure that your funds are safe. However, it’s not always a good idea to store all your assets on the platform. If you’re willing to go that extra mile, it’s best to keep your numbers in a wallet that is physically stored.
But you must be aware that Huobi has its faults. For example, it has an upper withdrawal limit of 2.5 for ETH as well as 0.6 in the case of BCH.
History
Huobi is among the largest cryptocurrency exchanges in the world. It provides a vast array of crypto assets and trading pairs. In addition to conventional trading options, the company offers derivatives markets as well as OTC trading. It operates offices across Korea, Singapore, Hong Kong as well as the US.
Since its debut in 2013, Huobi has proven to be a pioneer in the field. Although its focus was initially on the Chinese market, the team knew they could make an impact in other regions, too. Hence, they began exploring the markets in Asia and Japan.
One of the key components of Huobi is the capability to borrow and lend using Huobi Loans. Huobi Loans function. Users can use this feature to collateralize their own crypto properties and make interest payments on loaned funds.
Another distinctive feature that is unique to this product User Protection Fund. The fund serves as an insurance for customers in the event of unexpected events.
For security reasons Huobi also utilizes two-factor authentication (also called two-step verification) for its platform. To log in users will be required to input a account password as well as an email. Users will also be required to provide additional information such as a phone number.
Features
Huobi is a Cryptocurrency exchange. Founded in 2013, it has grown into an important player in the market with its outstanding service and features. It offers a variety of financial products including spot and futures crypto trading as well as staking and lending.
Huobi’s website is easy to navigate and has a variety of helpful tools for users. The platform is accessible on both mobile and desktop. With more than 1000 crypto pairs, traders are able to trade on the move.
Huobi supports two-factor authentication so users can protect their accounts with the help of a code and password that they get from their phones. Customers can also set up a “Whitelist” to limit access by anyone who is not authorized.
Huobi has a user protection fund which guarantees compensation for any losses that result from crypto assets. This feature covers against unforeseen circumstances, ensuring that your funds are safe.
Huobi also provides the only staking service that is unique, The Dual Currency Investment. This product allows users to gain more BTC. By participating in staking that allows users to maximize their gains while minimizing risk.
Huobi’s wallets are extremely secure, using the latest technology to ensure secure asset management. Users are also able to backup their wallet using various backup options.
Services offered
Huobi is among the leading digital asset exchanges in the world. It was established in 2013 and offers a platform for trading diverse cryptocurrencies. This company boasts a large client base and is growing to a variety of nations.
In addition to a trading platform, Huobi offers a wide variety of other options. This includes the lending platform, insurance policy, and a crypto loan solution.
Huobi offers a range of security features and enjoys an impressive user base. Users have access to two factor authentication for transactions.
Another option is the User Protection Fund. The fund provides insurance which protects the assets of users when they trade. There are many ways to get in touch with the customer support team, including a phone number and chat on the internet.
Huobi offers an extensive list of cryptocurrencies supported, including bitcoin, Litecoin as well as Ethereum. They also provide spots trading and margin-trading along with derivative products.
The website offers a range of options which include an education section. It is designed to offer professional services for digital assets transactions.
Supported Coins
Huobi is one of the largest and most renowned crypto exchanges in the world. It has a wide range of tokens and currencies, including ICO coins. The exchange also provides customers with a wide selection of options for margin trade.
Huobi has a network of more than 1,300 employees and several offices across various countries. The exchange provides a wide array of services. its website is simple to navigate and comes with charting tools.
Huobi is able to support more than 100 different cryptocurrencies in addition to a wide selection of ICO tokens. Huobi’s policy states that traders must verify their nationality to verify that they’re not from a country which prohibits the use of cryptocurrencies.
Huobi Global has over $4 billion of daily trading volume, and also provides 24/7 customer service. Customers can also buy an insurance policy to protect their assets. Investors are also able to access education materials regarding the business.
Huobi has a network of alliances across 12 countries. Users can choose from a variety of cryptocurrency and accepts two FIAT currencies.
Pros
Huobi is a trusted cryptocurrency exchange, with a few attractive features. Huobi is an excellent choice for novice and mid- and advanced trader.
One of the major attractions of this exchange is the variety of assets available for users. Huobi provides over 350 cryptocurrency, and some of the less well-known ones too. The exchange offers a long range of security options such as two-factor authentication in SMS messages, multi-signature protocol, and cold storage devices.
The Huobi website has a contemporary layout and is easy to navigate. There are a wide variety of payment methods, but some are not available in every country.
Apart from the exchange however, there are other financial services offered by Huobi like loans and a wallet. They may not be as easy or secure as some of the other options available however they offer some convenience.
For those who need assistance there’s a helpful help center available on the site along with an extensive section on education. You can find videos, articles, and an FAQ section.
Cons
Huobi is a leading digital service for wallets and asset exchange. It is accessible across more than 130 nations across the globe. There are branches located in Japan, Hong Kong, and South Korea.
Huobi has a great selection in trading market. It offers more than 300 cryptocurrencies that it can exchange. This platform is great for both advanced and novice traders. But, there are a few negatives to be aware of prior to making a choice.
Huobi comes with a range of features that improve the overall user experience. For example, the interface is clean, and the website loads fast. The platform also includes a section for education which includes articles about investing. There are even Subreddits, Instagram as well as Telegram channels to keep you updated on the latest news in crypto.
Another feature that makes Huobi a good alternative for new users is the possibility to withdraw loans. You can use your credit card, or transfer funds using debit cards. In addition, Huobi has a rewards system for customers. Traders get a reward on their first deposit, receive discount on fees on specific Huobi holdings, and also receive daily rewards.
KYC
Its Huobi platform is a great option for people who want to trade digital currencies. The platform offers a vast array of markets that include more than 350 currencies. Additionally, they provide tools to help you trade.
If you’d like to join the Huobi platform, you will first need to complete their KYC process. This process is completed via a secure and safe portal. You’ll be asked to upload a photograph of your identity documents. Depending on your location you might be required to provide additional documents.
The verification process takes approximately 10 minutes to complete. After you complete the verification process, you’ll be able purchase cryptocurrency. There are four coins that are stable to pick of: BTC, ETH, LTC and Litecoin.
Once you’ve chosen your option After you have made your selection, you will be asked to choose your preferred payment method. You can pay with credit cards as well as bank transfers or international wires. Some banks may not allow deposits or withdrawals.
Huobi has several security measures in place, including the multi-signature security system. This means that multiple individuals must approve each withdrawal. To add an extra protection, enroll in two-factor authentication.
Trading
If you are seeking to trade within the crypto market, Huobi might be the exchange for you. Huobi has earned an excellent reputation in the industry and is a secure place to invest. The company is also well-known for its superior level of cyber security.
One of the most striking Huobi’s features is its User Protection Fund. It is designed to safeguard customers from unexpected losses. Traders are required to upload identification documents before recouping their money. This is an important benefit for many customers.
Apart from their exchange, Huobi also offers additional services. They offer coin derivatives, lending, and the option of staking. Users can also earn VIP account tiers based on their EXPs.
While Huobi is packed with features, it’s not easy to pick a favorite. The majority of the time you’ll have the same experience across all platforms. But, there are some notable distinctions.
As an example Huobi’s trading bot runs automatically and comes with a built-in cost range calculation. Additionally, Huobi offers a wide selection of cryptocurrencies. While there are plenty of other exchanges to choose from, Huobi stands out.
Fees
Huobi is a crypto exchange that provides a wide range of services, including margin trading and stakestaking. It’s also a secure exchange to trade on. However, it does have some downsides.
For instance, Huobi does not offer a platform for US citizens. However, the company plans to expand in the U.S. In 2020, US residents will also be eligible to trade on the exchange.
The good news is that Huobi has been diligently working to be compliant with the rules of the US that could allow them to become an industry leader in the global exchange market. They are currently a member of the Blockchain Transparency Institute, which requires strict AML procedures.
Another benefit of Huobi is that it comes with the API platform that allows skilled traders to automatize their trading strategies. Huobi also has instruments for making chart patterns. Traders who do not have the time to read the most recent news or indicators can use the site’s charting interface for a simple interface.
One of the most crucial features of the exchange can be found in Huobi’s User Protection Fund, which acts as an insurance cover for users. If your account is compromised by hackers, Huobi will reimburse you with the equivalent amount of money.
Limits
Huobi is a top crypto exchange that supplies traders with a variety in trading choices. It is not only an online marketplace for buying and selling digital currencies it also functions as a platform for trading derivatives and futures.
At present, there are more than 600 digital currencies available on Huobi’s exchange. They comprise Bitcoin, Ethereum, and many more. The currencies can be bought via the website. Users can use credit cards, bank transfers, and even popular payment apps like PayPal or Apple Pay for instant purchase of crypto.
Huobi’s exchange is an elegant and user-friendly interface. It can distill a lot of information in a short time and effectively. It also has a complete API stack that helps experienced traders to automate their strategies.
There are two kinds of offers at Huobi that include withdrawal and deposit offers. The former are available for a limited time. In the case of deposits, customers have the option of using the deposit limit of USD 1,000.
The withdrawal limits differ for different users. People who have already verified their identity are allowed to take up to 100 BTC per day, 24 hours a day. Non-verified users can withdraw up to 0.1 BTC per day. Depending on the amount of money withdrawn, interest rates could be applicable.
Security and Safety
Safety and security are crucial when it comes to cryptocurrency exchange. Happily, Huobi has done an outstanding job in enhancing security for its users. With the help of various bank-like precautions, Huobi ensures safe transactions.
In the year 2018, Huobi Global launched the Investor Protection Fund, which provides protection to investors in the event of trading-related risks. The fund will also ensure that funds are secure from external threats.
The company’s risk control strategy is growing. In addition to its Anti-Romance scam-fighting strategy, Huobi is educating its users about potential scams. This includes sending warnings about risks via SMS and email.
Users must undergo advanced authentication to be permitted to trade on Huobi. Huobi has two factor authentication on all accounts. If the user’s identity is not authenticated, they will not be able to access their account.
Huobi also offers multiple backup options to users. They include the Cold Wallet, which is an offline device that is used for storing assets. In contrast to hot wallets cold purses are not susceptible to hacking and theft.
Huobi’s Cold Wallet also provides an extra layer of security for your assets. Furthermore, the application allows users to add multiple backup options to their device and make it less vulnerable to hacking.
Customer Support
This is a list of the most notable names in the world of digital coins. These names aren’t exclusive. Nevertheless, there is some rivalries for the top spot. However, the good news is that the competition isn’t as intense as it seems. This is good news for those who are aware. In particular, Huobi Group’s top guns have a chance to increase their numbers. There’s been a rise in both the amount of new sign-ups as well as the number of existing signups. This is the right time to shine. It is hoped that the above list of worthy contenders will win the award at the evening’s end. If you’re trying to get a leg up on the rest of the field, now is the time to get moving. Your manner of conduct is second to none.