Huobi Global

Huobi Global Exchange Review

Huobi is a popular and easy to use centralized exchange that allows users to quickly exchange many crypto assets. It offers direct crypto purchase option through fiat or P2P mode. Users can earn a passive income by staking or by locking their tokens in pool. Huobi provides crypto loans to its users. It is an entire ecosystem of various services rather than a simple exchange. Users also get governance and voting power if they hold the native token, HT.

However, Huobi has faced regulatory issues in Singapore and China but continues to offer services in most regions of the world.

History of Huobi Global Exchange

Huobi Global is headquartered in Seychelles and was founded in 2013. Huobi Global started off as a simple cryptocurrency exchange but has branched into a large empire with diverse interests. It was incorporated and operated initially from China but later, the company decided to establish subsidiaries in different countries to evade government crackdown on cryptocurrencies in China.

Huobi Global also supports derivatives markets such as futures and options along with the ability to utilize leverage for trading. Both perpetual and quarterly settled contracts are offered by Huobi Global.

Who owns Huobi Global?

Leon Li is the founder and CEO and the largest shareholder of the Huobi Global Holdings company.

Regulations of Huobi Global

Huobi Global has been subjected to a lot of regulations and has been asked to stop its services in some countries. Huobi Global is currently available in most countries but prohibits new user registrations from US, Japan and China (Hong Kong and Taiwan are supported) at the time of writing. However, US, Japanese and Korean citizens can trade on Huobi through local partner sites.  

In addition, Huobi Global may also limit access to some or all features based on the country’s jurisdiction and prevailing regulations.

What Cryptocurrencies are available on Huobi Global?

Huobi Global supports trading in major cryptocurrencies with over 400 coins supported currently. It offer trading with cryptocurrencies paired with other popular altcoins and 57 fiat currencies such as USDT, HUSD, BTC, ETH, HT, USDC, TRX, CNY, USD, HKD, VND, MYR, TWD, RUB, AUD, SGD, GBP, EUR, PHP, INR, PKR and UZS.

The exchange also has a native coin called Huobi Token (HT) that entitles users to lower fees and other loyalty benefits while providing voting rights to its users. Holders of HT receive new tokens and a wallet bonus.

What payment methods are available on Huobi Global

The Huobi Global exchange supports many payment methods including credit/debit card, bank transfer, third party payment processors and P2P transfer. A total of 60 payment methods are supprted on Huobi Global.

Credit/Debit cards: Huobi Global allows its users to deposit fiat currencies through debit/credit cards. Both Visa and Master cards are supported on the platform. Different currencies have different methods of deposit so please check before depositing a currency. A currency conversion charge maybe levied if the transaction currency is different from those supported by the exchange.  

Bank Transfer: Huobi Global supports direct bank transfers in many countries and for the currencies described above. SEPA transfers are supported in Europe and US.

Third Party payment processors: The Huobi Global exchange also supports some third party payment processors such as Advcash and Faster Payments through which the users can also deposit fiat balance into their Huobi Global account for purchasing cryptocurrencies.

P2P Transfer: Huobi Global also supports transfer of cryptocurrencies directly through the peer to peer (P2P) mode. This method involves sharing of account information between two customers who can then transfer balance between themselves and the same can be used for purchasing or selling cryptocurrencies. The peer to peer method helps in transferring balances where other payment methods maybe slow or may not be supported at all.

Investment instruments in Huobi

Huobi Global offers a range of products and caters to a diverse set of clients through its multiple offerings. These services are described below.

VIP Accounts: Huobi offers high value accounts to users with significant trading activity. Privileges include lower interest rates on crypto loans, lower fees, dedicated account manager, faster deposits and withdrawals and increased withdrawal limit.

Huobi PrimePool: The Huobi PrimePool helps users to get free coin airdrops if they decide to lock their tokens. Users can check the PrimePool page to see which tokens are required and can lock them to receive free airdrops. Its a great method to earn an additional and passive source of income by simply locking up tokens in the Huobi PrimePool. PrimePool also allows projects to launch their new tokens by using the Huobi platform.

Huobi Earn: Users can lock their tokens for a pre-defined period and get a fixed annualized yield of up to 50%. Its a great method to earn a passive income on the Huobi global platform.

Staking on Exchange

Huobi Global allows users to stake various cryptocurrencies. Staking can help users to earn additional benefits. Staking on the Huobi Global exchange provides a fixed annualized yield ranging from 3-15%. Huobi Global offers a flexible lock-in period and the user can choose the duration of staking. However, the user must stake for a minimum period of one day to remain eligible for the staking rewards.

Huobi Crypto Loan: Users can avail of cryptocurrency loans on reasonable rates of interest. The service offers flexible repayment terms and and loans are offered from 30 days to 90 days period.

Huobi Learn: It is the nativeeducational resource for all things crypto. Huobi Learn publishes research driven content about cryptocurrencies, NFT and blockchain universe. It serves to help the user understand about various altcoins and blockchain technology.

Trading Bot: Huobi Global also provides trading bots for users who wish to automate their trades. Its a great tool for users who have a regular job and cannot find time to trade manually.

Huobi Pool: Provides miners with necessary tools and also supports an EOS community.

Huobi Wallet: The native wallet provided by Huobi supports many cryptocurrencies and also provides an option for direct exchange for the users. It is a highly secure wallet that allows users to retain their private keys.

Huobi Capital: It is the investment wing of Huobi and supports new projects related to the cryptocurrency and blockchain sectors. Huobi also runs a special ecosystem fund that has diverse interests ranging from EOS Eco fund to a blockchain fund. The Huobi Global Eco Fund has $200million in the US under asset management.

Huobi Cloud: It provides blockchain cloud services for various enterprises and institutions.

HECO Chain: The native blockchain of Huobi that currently supports the HT token. It is a public blcokchain open for other developers. HECO is decentralized and energy efficient.

Huobi DeFi Labs: The DeFi reserach wing of Huobi that invests in DeFi projects. It also supports incubation of DeFi projects.

NFT Marketplace: The exchange has plans to launch an NFT marketplace and successfully conducted a trial of its upcoming NFT marketplace. It will allow users to collect and sell digital artworks and collectibles.

How to open an account on Huobi Global

You will need to complete Know Your Customer (KYC) procedure to open an account on Huobi Global. The steps involved in opening an account are described below.

Steps to open an account on Huobi Global:

1. Go to the Huobi Global site and click on the Register button.
2. Then select your country of residence and proceed to the registration interface. Here, you will need to provide your email ID and a password that will be used to login into the newly created account.
3. Click on the agree to terms and conditions button and wait for the verification mail or message.
4. Use the verification token number to verify your new account. You will need to provide documentation such as a driving license, passport or other government issued IDs to confirm your identity and address. A utility bill and national ID may also be accepted in some cases. This process is known as the KYC regulation and it is in place to prevent the risk of fraud and to ensure that the site is safe for all users.
5. Once this additional step is completed, Huobi Global will activate your account and you can deposit funds to start trading.

Customer support of Huobi Global

The customer support of Huobi Global consists of well trained professionals who will help you out if you get stuck or need some help with an issue. The support section is well doxxed with a range of FAQs that could solve your queries. Huobi Global chat support can also be contacted in case a user needs extra help.

Security of Huobi Global

Huobi Global invests in security and has built a solid reputation among its users. Majority of clients funds are stored securely in an offline environment. Users can also secure their accounts through 2FA and by various other measures such as requiring a SMS passcode sent to their mobile phone for every login instance. Email and app based authentication is also supported by Huobi Global.

Huobi Global also suspends and locks accounts in case unusual activity is detected.