Exploring the Huobi Exchange
Huobi
Huobi is one of the largest and largest cryptocurrency exchanges in the world of crypto, Huobi was founded and established by Jun Du in September of 2013 making it one of the oldest crypto exchanges, Huobi has proved to withstand the test of time over the years surviving the ban on cryptocurrencies and halt of crypto exchange operation in china and the subsequent bear market that followed. These challenges had caused Huobi to lose millions of dollars and drop down in exchange ranking by market capitalization.
However, after the rains come to the sun, Huobi has been able to survive and conquer these challenges and is currently on its best as an exchange with customers from more than 130+ countries and a 24H transaction volume of $16,718,359,239 and a variety of products and altcoin selection for its customers.
Huobi is currently cushioned at 3rd place on Coinmarketcap
Huobi focuses on customer security and safety and a reliable and secure platform, wherefore it adapted special security procedures. It uses offline cold storage, multi-layer verification processes, and collaboration with Goldman Sachs and industry specialists. Huobi also provides one of the best user experience when compared with other exchanges, The website itself is easy to navigate and strikes a nice balance between functional, visually pleasing, and elegant.
The trading platform is simple and straightforward and offers leverage trading up to 5x for spot traders aside from leverage options available for margin and futures traders. Huobi offers a simple, straightforward, and user-friendly mobile app option for traders with an advanced and professional price chart and asset information.
What makes Huobi special
Huobi has remained on top of the list f crypto exchanges for more than 7 years now, what separates it from other exchanges and what makes it the right marketplace for institutional investors and retail investors.
Ease of Entry
Huobi has made the sign-up process one of the simple in the industry while protecting user's data and privacy. New users can create and set up an account in less than 8 minutes and make their first trade within the first 10 minutes of contact breaking the entry barrier.
New users can create their account using by signing up with only their email and password and the account is set up and you can start trading on this exchange. The steps to open an account with Huobi are highlighted below-
- New users must navigate and load Huobi official website
- New users must click on the sign-up icon as depicted on the image above.
- Click and allow the page to open which will load the image below..
- By default, your country will appear on the Country column and you proceed to other signup details.
- Fill out the sign-up form which includes your email and password.
- Click on sign up and the page below will appear.
- Input the verification code sent to the verified email and proceed.
- After email verification, you have your account created and ready to use
Note- You will be prompted to verify your identity using a valid passport or drivers license, however, you can ignore this if you don't have these documents with you at the moment, however, will You are suggested to complete personal verification in order to ensure the financial security, raise withdrawal credit and enjoy trading privileges.
Transparent fees
Huobi offers one of the best and transparent fee systems as long as crypto exchanges are involved. Huobi gives users the opportunity to slash a considerable transaction fee for each successful order by allowing users to pay fees with the Huobi token. This system is not peculiar to Huobi as other top exchanges like Binance and Kucoin adopt the same fee reduction approach if users will pay with the native token. All users have to do is to have HT tokens in their portfolio and select to use HT for fees and the deal is on.
Huobi fee structure
Optimal security
User security at Huobi is a top priority along with delivering spectacular services to customers and investors. Huobi is one of the safest exchanges in the world with no record of an attempted break-in or an actual hack on the exchange.
Huobi also ensures customers' safety through the User Protection Fund, this is similar to Binance’s SAFU, Huobi funnels profits into its User Protection Fund as an insurance policy against hacks, thefts, and other unforeseen events that affect users’ wallets.
As a customer, this is a huge plus because it means you can feel relatively assured that if something goes down well beyond your control, you’ll be safe and sound with Huobi presumably restoring you to rights.
Huobi is of the best exchanges in the world today and I believe it has all it needs to top the list of exchanges, I will be discussing another important aspect of Huobi in my next post you are invited to visit again tomorrow.
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