Huobi Review

Huobi exchange
3.5
3.5/5
Min Deposit: €100

Pros & Cons

Pros

Cons

Huobi In a Nutshell

With its headquarters in Singapore, Huobi markets itself as a “digital asset exchange”, which in simple terms means cryptocurrency exchange. The exchange has a long history in the cryptocurrency market and has a strong belief in the future development of a blockchain economy.

Today Huobi is one of the biggest cryptocurrency exchange platforms in terms of trading volume and provides features such as futures trading, margin trading, trading bot, and more. In this Huobi review, we will take a deeper look at the platform, its offering and how well it compares to other well-known cryptocurrency exchanges.

Huobi Review: What is Huobi?

Huobi started as a Chinese cryptocurrency exchange, but with the Chinese government cracking down on crypto, the company decided to move its operations to Singapore, from where it currently operates.

The Huobi exchange has also stood the absolute cryptocurrency test of time, founded around the era of dinosaurs like Mt. Gox way back in 2013. Back in the days when cryptocurrency trading was practically not even a thing.

Today Huobi has millions of registered users across 135+ countries all over the world. The platform boasts impressive trading volumes and can be regularly seen in the top 3 positions on the charts on Coinmarketcap.com for the highest 24-hour trading volume. The exchange is also known for its top-ranked security, a simple and elegant user interface, and internationally focused packaging. 

Fees on Huobi

The exchange is known for its low trading fees and has a fairly straightforward fee structure, similar to what you would see on other exchanges. The exchange currently charges around 0.20% on makers and takers fees, which is slightly below the cryptocurrency industry average at around 0.25%. 

Concerning Huobi’s contract trading, takers fees are 0.04%, and makers fees are 0.02%. In comparison, the industry average on contract taker fees are 0.063%, and maker fees are at 0.018%. This means that Huobis fees remain competitive as the taker fees are lower than the industry average, while the maker’s fee is slightly higher.

Huobi withdrawal fees

Huobi withdrawal fees are dynamic, and users are charged based on network conditions. The overall fee amount is based on an estimate of the network transaction fees and can vary without notice due to external factors such as network bottlenecks.

For example, the Huobi exchange charges a withdrawal fee amounting to 0.0001 BTC when users withdraw BTC. This fee is under the industry average and is an advantage over most other top cryptocurrency exchanges in the market.

Below are some examples of withdrawal fees and minimum withdrawal limits on the Huobi exchange:

COINWITHDRAWAL FEESMIN WITHDRAWAL
BTC$0.08$59.68
ETH$0.078$41.78
USDT$0.00$2.00
DOGE$0.079$2.05
UNI$0.076$2.15
ADA$0.078$0.78

Huobi deposit fees

The Huobi exchange charges very standard fees on fiat deposits at around 0.99% up to 2.49%, dependent on the deposit method used. There are three different deposit methods, card payments, bank transfers, and the payment processing company PayNow, which also offers the best rates in most markets.

Start trading on Huobi today!

You can open an account with Huobi in just a few minutes. Click on “Open Account” and fill in your information.

Min Deposit: €0

Huobi Security

When deciding between various cryptocurrency exchanges, you are likely to notice that most platforms are unregulated. Now, this is not unusual in the cryptocurrency space, given that most government regulations have yet to pass any laws on the matter, and this is why you should do your due diligence to ensure the platform you choose is secure

In this case, Huobi is a decentralised exchange that stores funds in multi-signature cold wallets. On top of this, Huobis data centres undergo 24/7 security monitoring to prevent any hacking attempts.

Furthermore, Huobi utilises various security features to keep both funds and traders on the platform secure. When creating an account on the exchange, traders are required to enter and confirm their email address and link and verify their mobile number.

And if that was not enough, the platform also makes use of two-factor authentication, or 2FA, through the Google Authenticator to prevent unauthorized sign-in on accounts. In addition, Huobi follows a KYC procedure that requires the trader to confirm their identity.

Huobi Global, the parent company, also holds over 20,000 BTC, used as a security reserve which serves the purpose of adequately covering clients should there be an attack or a breach.

In summary, the security measures on the platform show that the exchange puts a lot of effort to ensure the security and safety of its users. The spotless track record also proves that Huobi, thus far, has managed to keep its users safe.

Huobi Trading Features

Huobi offers margin trading in three forms, including cross, isolated, and C2C margin trading. Furthermore, both isolated and cross margin trading have three methods: Automatic repayment, Automatic Loan, and Ordinary mode. At Huobi, users can enjoy the leverage of 3x in cross and C2C margin trading, while users get 5x in isolated margin trading.

Huobi Over The Counter (OTC)

Huobi exchange has an Over The Counter (OTC) trading system. This OTC Desk enables users to perform peer-to-peer transactions directly on the platform. These Over The Counter transactions are monitored by the Gibraltar Finance Service Commission as they can only be performed under strict Financial Protocols. The OTC Desk currently has five currency pairs: Bitcoin, Euro, Great British Pounds, US Dollars, and Ethereum.

Huobi Derivatives

The Huobi Derivative Market launched in 2018 for all global markets, and before this change, only Chinese citizens had access to the feature. Nowadays, of the back of the Chinese government anti-crypto regulations, only Huobi Global has access to derivatives trading.

So if you decide to signup on the Global platform, you can enjoy futures and perpetual swap instruments with leverage up to 20x on features and 125x on the swap.

Overall this is in line with what other market leaders in the space are offering, but do keep in mind that only professional traders should use these features.

Huobi Trading bot​

Huobi Margined Swaps

The Perpetual swaps leveraged instruments on Huobi don’t have a delivery date. Instead, they settle three times a day and are listed every day. As mentioned earlier, this also comes with leverage up to 125x, and are written on two different assets. Besides, even though the max leverage on Huobi is at 125x for swaps, any larger positions will increase the initial and maintenance margin.

Huobi trading interface

Huobi Trading bot

Something that is not common to see on most cryptocurrency exchanges is the ability to use trading bots. Huobi provides an inbuilt and completely free Grid Trading bot to use on the platform and can assist traders by automating trades to buy low and sell high. In practice, this can help users avoid making trading decisions based on human factors (Don’t let the greed get to you) while the bot execute all the trades for you.

Huobi Cryptocurrencies

The Huobi Global exchange currently offers a list of around 300+ different cryptocurrencies on the platform and is gradually expanding its offering. Huobi also onboards new currencies regularly, which means you don’t have to miss out on the next big thing.

Here is a list of 15 cryptocurrencies currently on Huobi:

  • Tether USD (USDT)
  • Ethereum (ETH)
  • Bitcoin (BTC)
  • The Sandbox (SAND)
  • Decentraland (MANA)
  • SHIBA INU (SHIB)
  • Crypto.com Chain (CRO)
  • APENFT (NFT)
  • Solana (SOL)
  • XRP (XRP)
  • Cardano (ADA)
  • BitTorrent (BTT)
  • TRON (TRX)
  • Filecoin (FIL)
  • JUST (JST)

Huobi Customer Service

Compared to most cryptocurrency exchanges, Huobi Global has above average customer service experience. The customer support on the platform is available 24/7, and response times only take two to three hours on average, depending on the type of question raised. Many, including us, would consider this a rarity in the space (Looking at you Coinbase).

There are two methods users can use to reach customer support over at Huobi. Firstly, you can easily log in to the Huobi app and open up the live chat support, send your question, and wait until the support team gets back to you. Secondly, you can contact the support team through their email support@huobi.pro. However, if you contact Huobi through email, make sure you send it from the email associated with your Huobi account and include your user ID on the platform.

Start trading on Huobi today!

You can open an account with Huobi in just a few minutes. Click on “Open Account” and fill in your information.

Min Deposit: €0

Huobi Design

The overall design of a platform is normally something people don’t consider as important when deciding which cryptocurrency exchange to use. However, we believe that the overall look and feel of a platform can be good to consider, especially if you are new to cryptocurrencies – less cluttered UI means less time looking around the site for the right tab.

As for Huobi Global, we only have great things to mention. The desktop version is not only fast but also sleek and modern. On the homepage, users can quickly locate features and get started with buying crypto, markets, spot trading, derivatives, and read the latest updates on promotions and new coins on the exchange.

Something to point out is that the desktop version does look somewhat similar to Binance, now we do like the Binance design, but we are unsure who is copying who in this case.

Huobi Design​

The trading interface does not disappoint either. It offers a minimalistic styled UI that includes all the instruments and tools needed to place orders, set limits, place trigger orders, order book, swap trading pairs, and all the data you need to make informed decisions.

Overall the trading UI remains competitive in the space as it offers simplicity for the amateurs and advanced trading tools for the pros. You can also access the trading interface without being logged in so you can decide if it’s the right fit before you make an account.

Huobi trading interface

The modern aesthetics and ease of use on the desktop version have also been carried over to the Huobi mobile app, where you can just as easily trade cryptocurrencies, track performances, and get real-time market data directly on your phone.

In conclusion, we do like the overall design and user experience on Huobi, especially as it is suitable for both amateurs and pros while providing an on-brand feel, convenience, and cohesion across platforms.

Huobi mobile app

Huobi Review: Final thoughts

In summary, Huobi offers an almost perfect cryptocurrency exchange experience that lives up to its good reputation as one of the best exchanges in the industry. Its almost instant customer support, a clean and modern user interface, and industry-leading security measures in place to protect its users.

The downside with the exchange comes down to its somewhat confusing use of subdomains across features. It makes it difficult to get around the website and practically makes some less technical users get stuck under trading tools they just wanted to browse through.

Despite the downside, Huobi does deliver an overall great experience with modern UI, plenty of features and access to a wide range of cryptocurrencies.

How does Huobi compare to other platforms? Check out our comprehensive list of cryptocurrency platforms now.

Start trading on Huobi today!

You can open an account with Huobi in just a few minutes. Click on “Open Account” and fill in your information.

Min Deposit: €0

About the author

Gustav Eriksson

Gustav Eriksson

Gustav Eriksson is a cryptocurrency investor and founder of KrispCrypto. He has been a cryptocurrency investor for over ten years and loves personal finance.

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