Huobi (Huobi, Huobi Global) is an exchange for buying, selling, and margin trading of cryptocurrencies. It was founded in 2013 in Singapore. The crypto exchange officially launched in May, and within a short period of time managed to become one of the most actively developing cryptocurrency platforms in the world. In 2020, the Huobi exchange is among the 10 largest platforms in terms of trading turnover. Registration is open to most countries in the world, without the need to verify your identity.
The official website of Huobi is huobi.co.
Go to the Huobi Exchange website
In addition to it, you can choose alternative crypto exchanges: Bitmex, LocalBitcoins, Binance, Exmo, Currency.
Basic information about Huobi
| Exchange | Huobi |
| Official site | hbg.com |
| Russian language | Yes |
| Year of foundation | 2013 |
| Founder | Leon Li |
| Legal registration | Singapore |
| Exchange token | Huobi Token (HT) |
| Place in the ranking of crypto exchanges | №8 |
| Fiat | OTC |
| Margin trading | Yes |
| Input and output | cryptocurrencies; stablecoins |
| Account verification | not required |
| Safety | Google Authenticator, SMS |
| Trading commission | for makers – 0.2%; for takers – 0.2%; special conditions for VIP |
| Order types | market, limit, limit stop-limit |
| Cryptocurrencies and stablecoins | 390+ Bitcoin, Ethereum, TRON, EOS, Bitcoin Cash, Litecoin, Ripple, Huobi Token, Ethereum Classic, Cardano, Ontology, etc. |
| The most liquid trading pairs | BTC/USDT, ETH/USDT, EOS/USDT, TRX/USDT, EOS/ETH, EOS/BTC, BCH/USDT, LTC/USDT, XRP/USDT, HT/USDT |
| Trading volume as of January 15, 2020 | 338,046,668 USD (92,111 BTC) |
| Language support | Chinese, English, Russian, German French, Portuguese, Vietnamese and others |
| Other platform services | hbdm.com (derivatives exchange), hbg.com blockchain platform incubator, huobiwallet wallet |
| Mobile application for trading | Android and iOS |
Main characteristics
| Official site | https://www.hbg.com |
| Social media | |
| Location | Singapore |
| Founder | Leon Lee |
| Year of foundation | 2013 |
| Deposit/withdrawal method | Cryptocurrency, fiat |
| Available cryptocurrencies and tokens | BTC, ETH, BCH, LTC, USDT (about 200 coins in total) |
| Number of trading pairs | more than 400 |
| Own token | Huobi Token (HT) |
| Commissions | 0.2%, there are discounts for VIP program participants |
| Languages | |
| Verification | Optional |
| Application | Android, iOS Windows, MacOS |
Features of Huobi Exchange
Key Features of Huobi Crypto Exchange:
- The platform has clear functionality that can be understood by both market professionals and beginners.
- Support for many languages of the world allows the Huobi exchange to receive a large number of clients almost every day.
- The resource is a multifunctional and multicurrency platform where you can buy both top cryptocurrencies (BTC, ETH, LTC, BCH, XRP) and new, promising cryptocoins (TRON, ICX, BLZ, STRAT).
- Huobi Exchange has its own HT token (Huobi Token).
- It is not necessary to undergo verification on the exchange. You can trade without it, and this fact is also one of the important advantages of the site.
- There is both classic trading of digital assets and margin trading, as well as futures.
- It is possible to connect trading using specialized automatic programs (bots). Anyone can find instructions on setting up the API on GitHub, where the page of the trading platform developers is presented.
- There is also a compensation fund, thanks to which investors do not have to worry that as a result of an exchange hack and theft of cryptocurrency, their funds will be lost forever. The Fund will pay out the lost money in accordance with the rules of the trading platform.
- The resource is user-oriented and is actively developing in several directions at once: priority is given to both the Asian region and the countries of Eastern and Western Europe, where Huobi is opening offices and representative offices.
- Thanks to the presence of a developed loyalty program, clients of the Huobi exchange can receive additional income by using the referral program and earning 30% of all trading transactions of partners.
- The web platform has a so-called “Blockchain Incubator” (Huobi Labs), in which about $1 billion has been invested and which allows the exchange to invest in promising startups and revolutionary blockchain projects.
- The level of security is at the highest level: there is the ability to connect SMS authorization during the transition to the exchange, the ability to link an email address to an account, as well as activate Google Authenticator.
- The funds of the majority of Huobi exchange clients (about 98%) are maximally protected, because they are located in “cold wallets” that have a multi-signature.
Rules for registration and verification on Huobi
There is nothing complicated in registering on the Huobi trading platform and the procedure does not take much time. On the main page, you need to click the corresponding button at the top, after which you will need to fill out the following form fields:
- citizenship;
- E-mail address;
- phone number;
- password;
- re-enter your password.
After entering all the data, confirm your registration by clicking on the button. The verification procedure on this platform is more complicated than on many others, but this is done to protect user accounts from hacking and fraud.
To verify on Huobi, you need to log into your account, hover over your profile name and select verification. A window will open in which you must enter the following information:
- Name;
- surname;
- series and document number.
You will also have to upload a photo or scan of your passport, and also take a photo with it in your hands. Residents of China are allowed to confirm their identity not only with a passport, but also with a driver's or military license, as well as an ID card.
Registration on the Huobi exchange takes only a few minutes.
After filling in the fields, click the confirm button and wait for the data to be verified. To increase the level of account security, activate two-factor authentication in the profile menu.
Huobi Token
An ERC-20 token that has an HT exchange ticket and is the commercial currency of the Huobi crypto exchange . You can purchase cryptocurrency on the specified trading platform or in crypto exchangers.
Houbi Token is the basis for the functioning of the Chinese trading platform ecosystem and is primarily intended for paying commissions for trading operations.
The price of a token depends on many factors, primarily on liquidity and on the total number of HT coins that are regularly “burned” in order to ensure a deflationary model for the development of a digital asset.
A total of 500 million HT tokens have been issued. As of January 15, 2020, there are just over 50 million in circulation.
Prospects for the development of the Huobi exchange
The exchange is developing not only its main platform huobi.pro, but also a number of other services:
- HADAX is a crypto exchange where traders can add new tokens by voting.
- HuobiCloud is a franchise where you can create your own cryptocurrency exchange anywhere in the world. Subsidiary crypto exchanges should appear in 2020 in several countries around the world.
- HuobiChat is a social network for representatives of the cryptocurrency industry. With its help, owners of digital currencies can freely communicate on topics that interest them, as well as meet and find like-minded people to develop cryptocurrency projects. So far, the social network is just beginning to develop and has been operating for about six months.
Huobi Partners
Huobi Exchange is establishing cooperation with institutional investors, mainly from China. This is the Zhen investment fund already mentioned above, as well as the companies DHVC, SEQUOIA, etc.
Huobi Partners
Registration on the Huobi website, verification
register on the official website of the Huobi exchange hbg.com either by phone or using your email address. You must select the desired option and fill out the registration form.
When registering, you must provide the following information:
- Citizenship.
- Email or mobile number.
- Password (and repeat).
- Invitation code (if available).
Next, you should activate your account by following the link in the letter or entering the code that will be sent to your phone.
Verification on the Huobi crypto platform allows you to increase the amount of cryptocurrency withdrawn from the site and increase the level of account protection. To go through the procedure of confirming the identity of an investor or trader, you must go to the “Verification” section.
In the table you must enter:
- Citizenship.
- Passport or driver's license number (or other official identification document).
- Name.
- Last name.
You should upload a photo of your ID and wait for all the data to be verified.
To log in to your personal account, go to the official Huobi website and click “Login”. Then enter your registration information.
What is Huobi Pro Exchange?
Huobi is a global ecosystem that mainly focuses on Asian markets. It originally emerged in China in Beijing in 2013 as Huobi Global, which was engaged in the research of blockchain technology and the exchange of cryptocurrency and fiat. This service is still operating and is a Localbitcoins-type platform aimed at the Chinese market. Gradually, Huobi has progressed and grown into one of the best cryptocurrency exchanges in the world. Subsequently, after the Chinese government tightened its policies regarding ICOs and cryptocurrency exchanges, Huobi Corporation changed its jurisdiction to Singapore.
Huobi Global Ecosystem
Currently, Huobi Global is a multinational corporation that deals with blockchain technology with offices in the USA, Singapore, Tokyo, Korea, Hong Kong and many other countries. Today, the Huobi cryptocurrency exchange offers users one of the best and most innovative services for exchanging and trading digital assets. The platform is considered one of the most reliable, and listing on Huobi is the cherished goal of many cryptocurrency projects.
Go to Huobi official website
Setting up account security
Huobi Exchange allows you to increase your account security. To do this, you need to go to the “Account and Security” section in your Profile.
The user has the opportunity to activate the following functions:
- Synchronize your account with your email address.
- Set up SMS authorization.
- Activate Google Authenticator.
Also, to increase the security of your account, you can go through the identity verification procedure.
Main sections of the Huobi official website
On the left side of the Huobi website:
- Market (review of cryptocurrencies).
- Fiat (OTC trading capability).
- Trades (main trading section).
- Margin (margin trading).
- Futures (futures trading).
On the right side of the Huobi official website:
- Balance (section for replenishing an account, withdrawing funds, etc.).
- Warrants.
- User profile (verification, personal settings and much more).
At the bottom of the site there are links to the sections “Commission”, “Digital Assets”, “Downloading the Application”, “User Agreement” and a number of others.
How to deposit/withdraw funds from the exchange
top up your account with Huobi cryptocurrency in the “Deposit & Withdrawal” section. The link to the section is in the “Balance” tab.
To replenish your account you need to perform several actions:
- Select the desired asset.
- Click on the “Deposit” button on the right.
- Copy cryptocurrency address.
- Transfer funds to the specified address from another crypto wallet.
You can also withdraw cryptocurrency here. The algorithm is almost the same:
- First you need to choose a coin.
- Click on the “Withdraw” button.
- Copy and paste the output address.
- Specify the amount.
- Take into account the commission and make a withdrawal.
After this, wait until the transaction receives the required number of network confirmations and the coins are credited to your account.
Funds are generally withdrawn from Huobi very quickly.
Making a deposit and withdrawing funds
Before you start trading, you will need to fund your foreign currency account. To do this, on the toolbar, hover the cursor over the “Balances” section and select “Deposit & Withdrawal” from the drop-down list:
Huobi Exchange, how to top up your account
We will be taken to a complete list of available currencies, in which we need to select the one we need, and then click the “Deposit” button. The address to which we will need to transfer the amount will be shown.
To track the status of your deposit, you can use the “History” item, which is located above the list of currencies. Next to the history there is the item “Manage withdrawal addresses”, where you can set addresses with notes to which you can later withdraw funds.
To withdraw funds, use the “Withdraw” button, which will open the following form:
Huobi Exchange, withdrawal of funds
You will only need to indicate the address and the number of coins - the commission here is already set by default. In the “Received” field you will see the amount that should come to your wallet, taking into account the commission. Afterwards all you have to do is click the “Withdraw” button and wait.
The Huobi exchange is interesting because it also allows you to conduct margin trading, but for this you need to top up your margin account:
Huobi Exchange, margin account
Margin trading is only relevant for the USDT market and only for 12 currencies. The remaining markets (BTC and ETH) are promised to be connected later.
You can transfer funds to this account only from a foreign currency account, which we have now considered - for this there is a “Transfer to” button. To make a transfer back, use the “Transfer from” button. The “Margin” button allows you to take out a loan both for USDT and for the second currency you are interested in.
But remember: this type of trading is not recommended for beginners, as the risks are too high, as are the profits.
Exchange trading
The link to the main trading section of the Huobi exchange is called "Trading".
The trading terminal page should be divided into several parts (for a better understanding of the process):
- On the left are the main markets (USDT, HUSD, BTC, ETH, HT). The cryptocurrency exchange rate display can be switched to the Russian ruble.
- In the middle, a chart of the price movement of the asset is displayed, all the tools and indicators necessary for trading cryptocurrency are available here (Japanese candlesticks, empty lines, etc.), you can select the interval of price movement, select the desired indicator (Bollinger Bands, MACD, Balance Volume, etc. further) and change the screen type from the standard version to the full version; There is also the option to view the market depth.
- The digital value of the change in the price of an asset, located above the chart (current value of the asset, percentage change, low price point for 24 hours, high, volumes per day).
- On the right side there are trading books for buying and selling cryptocurrency (green - buy, red - sell).
- Under the price movement chart, there is a Buy and Sell form.
- Open orders can be seen under the form above.
- The order history is at the very bottom of the Huobi website page.
To buy an asset, you should follow these steps:
- Select a currency pair.
- Select order type.
- Enter the purchase price (if necessary)
- Enter the desired amount of the asset.
- Click on the purchase button.
The buy order will be sent to the trading order book on the right (Tape), after which you just need to wait until a buy is found.
The algorithm for selling cryptocurrency on the Huobi exchange is the same, only in this case you need to click on “Sell” and wait for a buyer to appear.
How to trade on the Huobi exchange - step by step instructions
Exchange
To start trading, go to the first item “Exchange” on the toolbar:
After selecting the appropriate menu item located near the logo in the top left menu, you will have access to the following interface
The first thing to do here is to select the market (1) on which we will trade. Having selected a market, we will see all the currencies relevant for it - in our example, BTC/USDT was selected. On the right side there is a graph with all sorts of settings for analyzing the course.
Scroll down the screen:
At the next stage, we determine the type of order (2):
- Limit - here we ourselves indicate a certain price and as soon as it is reached, the order will be executed;
- Market - the order will be executed immediately at the best market price at that time.
Having selected the order type, we set the price (if it is a limit order) and the required volume of coins to buy or sell. Next, click the “Buy” or “Sell” button and wait for our order to be executed.
The right side will show the latest transactions in this direction.
From this screen it is also possible to make a deposit - the “Deposit” button opposite each currency, and a section with commissions is also available - the “Commission” button on the top line (usually 0.2% on any transaction).
Scroll down the screen:
Purely informational sections will be presented here, namely:
- List of open orders - also here you can cancel the order if something happens;
- Order history;
- Market depth;
- Latest deals.
As you can see, trading on the Huobi exchange is no different from others. It’s even simpler here, since there are no additional functions, for example, there is no everyone’s favorite stop. But for some this may be critical, so it’s unlikely to count this as an advantage of the exchange.
Margin trading
“Everything is clear with regular trading, but what about margin trading?” - you ask.
And with it everything is exactly the same as with regular cryptocurrency trading. But not all markets and not all currencies are available, and there are separate accounts for trading, but this was discussed above. This type of trading is available in the “Margin” item on the toolbar. The only difference is that here you will trade with borrowed funds, which you will then be required to repay. So take this into account and be aware of the risks.
You must know/understand! Margin trading is a powerful tool that allows you to use leverage of 1 to 5 and make a profit that corresponds to funds that are several times larger than what you actually have in your account. But in addition to profits, losses can also be significant, so only experienced traders should use margin trading.
If the risks do not scare you and you are interested in getting as much profit as possible from each transaction, then here is the official instruction with pictures from the exchange itself. True, it is in English, but the principle and sequence of actions are almost the same as in regular trading, so there is little point in describing these actions again.
Margin trading
Huobi Exchange provides margin trading.
Traders can borrow borrowed funds from the platform to trade “short” (for a decrease in the price of an asset) and “long” (for an increase in price).
To start trading in the “Margin” section, you need to follow these steps:
- Go to the “Margin” section in the “Balance” tab.
- Select a currency pair to trade short or long.
- Top up your margin account (the “Enter” button) and confirm the operation.
- Go to the margin trading page (at the top of the site dashboard).
- Select a trading option depending on (short or long).
If the price of an asset goes up during the specified period of time, and if the trader has chosen “long”, the transaction is considered successful and can be closed. The user returns the borrowed funds to the Huobi exchange, and puts the interest from the transaction in his pocket.
If we are talking about lowering the price (“shorts”), then if the price falls, such a transaction is considered successful for the trader. He closes the order, also returns the borrowed money to the platform and receives a profit in the form of interest.
But if in neither the first nor the second case the trader guesses the direction of the asset price movement, then he loses money.
Trading commission
find out the trading commissions of the Huobi exchange by going to the desired section, the link to which is at the bottom of the official website.
The commissions are as follows:
- For makers – 0.2%.
- For takers – 0.2%.
There is an opportunity to reduce commission payments by purchasing VIP status.
Advantages and disadvantages of Huobi
The main advantages of the Huobi exchange:
- One of the top cryptocurrency trading platforms in the world.
- A large selection of crypto assets, as well as new, promising coins.
- Excellent functionality.
- OTC trading.
- You can trade without going through verification.
- Client funds are stored in “cold wallets” that have a multi-signature signature.
- Mobile applications available for Android and iOS.
- Profitable affiliate program (referral reward of 30%).
- Good defense.
- Supports several world languages, including Russian.
- Availability of a “Blockchain incubator” for the development of innovative projects based on distributed ledger technology.
- There is margin trading.
- Adequate commission level.
- Own token.
There are not many disadvantages:
- Some sections are only available in English and Chinese.
- The translation into Russian is a little hard on the eyes, and in places it is clumsy.
- The minimum withdrawal requirement for Tether is not so small – 200 USDT.
- There are risks associated with the development of the crypto market itself, with the fall in the price of cryptocurrency.
The long-term prospects for Huobi exchange are good. It continues to develop in several directions, and with a “bullish” cryptocurrency market, it is able to generate profits, as well as improve in the direction indicated by management.
Advantages and disadvantages
| Advantages | Flaws |
| An ever-expanding global platform | Complex verification process |
| Independent professional system for assessing blockchain assets | Lack of payment systems popular in the CIS countries for depositing and withdrawing funds |
| More than 4 years of experience in risk control and security of digital assets | Lack of translation of many points from Chinese into Russian or English |
| Specialized distributed system for protection against DDoS attacks | Uncertainty about the future of the exchange due to the ban on cryptocurrency trading in China |
| 98% of assets are stored in multi-signature cold wallets | |
| Service centers around the world | |
| Full service available on iOS and Android, Windows and Mac platforms |
Prospects for a crypto exchange
The Huobi crypto exchange is actively expanding and developing regional markets, striving to become leaders in the crypto market and gradually increasing capitalization, concluding new partnerships and opening representative offices in many countries around the world.
Her areas of interest include the following regions and countries:
- Asia.
- Eastern Europe (primarily the Russian Federation).
- Western Europe.
Considering that the Huobi platform appeared during a difficult period for the crypto market when the price of Bitcoin and other assets fell, and a year later the well-known trading platform Mt.Gox collapsed and was able to survive, the prospects for the exchange are solid.
The expansion of the partner network, the opening of representative offices in other countries (in particular in the European Union and Russia), the recent opening of a derivatives exchange on the main platform, and an increase in the liquidity of digital assets on the site provide an incentive for the development of both the Huobi exchange itself and its commercial token HT.
