As more and more people are interested in cryptocurrency, platforms like Huobi Global are becoming a norm. This is a good thing because crypto investors now have options. On the other hand, having too many trading platforms to choose from makes it overwhelming to know what each offers and whether it’s the best for you. This Huobi Global review will help reduce your information overload by thoroughly discussing all it offers and whether it is safe.
What Is Huobi Global?
Huobi Global is a cryptocurrency exchange that focuses on trading and managing crypto assets. When the founders, Leon Li and Jun Du, launched the company in 2013, their primary motive was to tap into blockchain’s capabilities to revolutionize finance.
A decade later, the company has become a dependable asset exchange platform. With a headquarter in Seychelles and over 200 Regional Service Centers, Huobi global caters to more than 10 million active users and generates a 24-hour trading volume of $4,919,975,949.
Huobi Global allows users to make real money through spot, derivative, and margin trading and staking. You can also trade their native token, Huobi Token (HT), one of the top-performing cryptocurrencies. This diverse range of services makes this crypto trading site a popular and safe choice for many crypto traders. It even features 8th place on ConiMarketCap’s top cryptocurrency spot exchanges list.
How Do I Start Trading on Huobi Global?
To start trading on Huobi, you need to set up your account. This is usually a simple process that requires you to put in a few of your details. Here’s a step-by-step process to help you sign up with ease.
- Step 1: Visit the Huobi Global website and click on the Sign-Up button at the top right side of your screen.
- Step 2: Provide a valid e-mail address or mobile phone number with which your account will be associated.
- Step 3: Select your nationality, and confirm that the choice you have picked is what you want the platform to always use in identifying you because you can’t change it after signing up.
- Step 4: Choose a strong password with both letters and numbers, type it in the password field, and click sign-up.
Once you have verified your account, you can now log in to the platform on the browser or through the Huobi App to start trading.
What Trades Can I Make on Huobi Global?
Our Huobi Global review reveals that Huobi is a broad-base trading platform, meaning you can find nearly all crypto trading activities that exist within the crypto space on this site. This is great because it gives traders multiple avenues to make money. At the same time, many people may not fully understand what these trade options are all about. So, to help you explore your options, here is a review of Huobi Global trades:
Spot Trading
Spot trading is a trade that involves buying or selling a crypto asset at its market price or spot price, with the expectation that you will make a profit from doing so. Spot trading is the most popular form of trading cryptocurrencies and possibly the first you will interact with if you are a beginner at crypto trading.
A typical spot trade uses market orders to help you identify which coins are selling at what price in the marketplace to make up your mind about which one you will trade. On Huobi Global, there are six order types. Each order type specifies a different way to conduct your spot trade.
You can opt to run a limit order which allows you to trade when the coin’s market price is within the limits you set, a market order where you only trade when the coin is at its exact market price, or a stop-limit order where you set a limit price and the system automatically places your order, and it runs the order at a value above your limit price. You can also choose the more complex advance limits order, trailing stop order, or trigger order.
Derivative Trading
Derivative trading is contract-based trading, where traders speculate on an asset’s future prices and bid on it, hoping their speculation will be accurate and they will get profits from it. The difference between derivative and spot trading is that the traders don’t acquire the asset they traded on; instead, they only make or lose money depending on the contract terms they set.
This type of trading is also called futures trading, and it takes three formats on Huobi Global. The first of these is Coin-M Futures. This derivative trade involves contracts that have an expiry date, after which an algorithm determines the coin’s price and executes payouts as agreed on the contract. There’s also Coin-M Swaps, a contract without an expiration date. With it, an asset’s price is determined after every eight hours. Lastly, the USD-M Contracts function exactly like Coin-M Swaps but have the asset’s price linked to the USDT stablecoin.
Margin Trading
Huobi Global’s margin trading is another attractive trading option. Margin Trading gives users loans to help them increase the size of the trades they are taking part in. With margin trading, you can take a position that costs more than you have in your wallet. This type of trading comes with high rewards, but it also has very high risks because you have to pay interest rates for the loan.
For beginners in crypto trading, stay clear of margin trading until you understand the crypto world, specifically crypto trading. The main reason for this is that the cryptocurrency market is highly volatile, and you don’t want to put your money on something when you don’t understand how it can change.
Staking
Although staking isn’t trading, it is still one of the ways you can make money on Huobi Global. Typically, staking involves you putting aside some of your tokens in a fixed account and earning interest. Staking is essential because it provides liquidity for the tokens in the market, which is why stakers earn profits.
How Much Is Huobi’s Trading Fees?
One of the perks of trading on Huobi is that they have pocket-friendly trading fees. First off, Huobi Global doesn’t charge any fees for deposits. Any transaction to a crypto address outside of Huobi has a withdrawal fee when it comes to withdrawal transactions. There isn’t a fixed withdrawal fee on Huobi. Instead, withdrawal fees vary from time to time depending on what the network’s transaction fee is.
When it comes to actual trades, the standard Huobi trading fee is typically 0.2% makers fee and a 0.2% takers fee. However, this amount lowers for professional traders depending on the 30-day trading volume. Professional traders pay anything between 0.0362% to 0.0097% for the maker’s fee and 0.0462% to 0.0193% for the taker’s fee.
What Are the Withdrawal Limits on Huobi Global?
The Huobi withdrawal fees are dynamic. Every day you will see the maximum and minimum amount you can withdraw from your account when you log into your account. You can withdraw as many times in 24 hours as you wish, as long as you don’t go past the Huobi withdrawal limits.
Which Trading Pairs Will You Get on Huobi Global?
Depending on the type of trade you want to take part in, Huobi Global has multiple trading pairs that you can trade. There are at least 962 trading pairs on the platform, including BTC, ETH, XCN, USDD, BTT, XRP, GMT to USDT, BTT, ETH, BTC to USDC, PAX, DASH, USDT, USDC, XRP, HT, DOGE to HUSD.
What Are Accounts on Huobi Global?
When you start trading on Huobi Global, you will need an account. This is a general account that helps you navigate the platform. However, you will also meet other minor accounts. These minor accounts exist to separate the different types of trades on the site. For instance, your spot trading activities will show up in a different account from your margin trading ones.
In total, Huobi Global has nine different types of accounts. These accounts include:
- Exchange account: This account helps you store all the fiat deposits and assets you want to use for spot trading.
- Margin account: This account shows you all isolated margins and cross-margin contracts. A Margin account also stores all the crucial actions and metrics that help you manage your open trades.
- Fiat account: This account shows all your fiat holdings, assets, and tokens.
- Derivatives account: As its name suggests, it displays all contracts for the derivative trades you have made so you can monitor them easily. These include all coin-margined and USDT contracts.
- Quant account: Your Quant account is there to help you do grid trading. It displays the invested assets while the trade is still open.
- Huobi Earn account: This helps you earn interest on your inactive cryptocurrency. It is not a staking account, but it’s more of a savings account.
- Pool account: Huobi Pool is one of the largest staking pools globally. This is the account you want to use when staking your tokens.
- Collateral account: If you’ve borrowed a loan on Huobi, this is the account that will give you the details of your loan, including your collateral and the total of what you owe.
- Options account: The Option account helps you view how much USDT, BTC, or ETH you have left when you want to open new contracts.
Is Huobi Global Safe?
Our review of Huobi Global safety shows that it has invested well in its security systems. The platform has two-factor authentication for accounts and has had a clean record as far as security breaches are concerned. Besides that, the exchange has a multi-signature cold wallet that stores its user’s assets. It also has a contingency fund called the Huobi Security Reserve. This monetary reserve with 20,000 BTC is stored in an independent address to help deal with extreme security accidents. If you lose your assets during a security breach, Huobi Global can compensate you.
FAQs
What is Huobi Global?
Huobi Global is one of the world’s largest cryptocurrency exchanges. Huobi offers a wide range of crypto assets for trading, including BTC, ETH, BCH, XRP, EOS, LTC, XLM, ADA, TRX, and USDC. It also offers a variety of other features such as margin trading and derivatives trading. Whether you’re looking to buy cryptocurrency or trade it for profit.
Where Is Huobi Global Located
Huobi headquarters are located in Seychelles. It also has 200 plus regional service stations globally.
Is Huobi Global Available in the USA?
Yes, Huobi Global is available in the USA. It is also located in other countries, including Seychelles, Singapore, Korea, Japan, and Hong Kong.
Is Huobi Global a Good Crypto Exchange Platform?
Huobi Global is worth considering if you are a crypto investor. It has a wide range of trading options and trading pairs for you to explore. It also has some of the most affordable trading fees. Besides that, it is secure and has a team working round the clock to support you in your trading journey.
Is Huobi Global legit?
Yes, Huobi is safe and legit to use. It’s one of the largest cryptocurrency exchanges in the world and has been operational since 2013. They offer a wide range of cryptocurrencies and have built a solid reputation for being trustworthy and reliable.
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