Overview

8.3/10
OVERALL SCORE

Table of Contents

Share this Review

Review Exchange Review Huobi Global Exchange Review with Pros and Cons

Huobi Global Exchange Review with Pros and Cons

Huobi Global is one of the better, more balanced exchanges, as you have the ability to exchange cryptocurrencies, margin trade, or use their futures market.

Huobi Global Exchange Review banner with a dark background.

Breakdown

US Residents AllowedNo
Exchange TypeCentralized
Exchange TokenYes, Huobi Token
Two-Factor AuthenticationYes
Foundation Date2013
HeadquartersSingapore
Withdrawal Limit Without KYC DocumentsDepends on the Coin/Token
Fiat-to-CryptoYes
Crypto-to-FiatYes via OTC Desk (Large Orders Only)
Bank DepositsYes via OTC Desk (Large Orders Only)
Bank WithdrawalsYes via OTC Desk (Large Orders Only)
Credit/Debit Card PurchasesYes
Trading FeesNot Fixed | See Fees
Margin TradingYes

Start and Founder

Huobi is one of the earliest cryptocurrency exchanges, started in 2013, founded by Leon Li, who used to work as a computer engineer at Oracle.

The exchange’s headquarters is located in Singapore, and Leon Li is still the CEO of Huobi.

Security

You can add two-factor authentication to protect your account — which we highly suggest.

The exchange has an insurance fund to cover losses in case there is a malfunction or a hack — please note that this is not used to bail out your losing trades.

Promotional Image showcasing the mobile application with Apple and Google banners on the side.
In addition to their multi-signature cold wallet, they also have 20,000 BTC reserved for the worst-case scenario.

The combined total loss could be bigger than the insurance fund can cover, so please do not store your cryptocurrencies on an exchange.

We strongly recommend everyone to use a hardware wallet.

Huobi Token

Huobi launched its token sale back in 2018, with the goal of reaching $300 million.

The goal was reached fully, and while the majority of altcoins lost 90-95% of their value during the bear market, Huobi Token was one of the few that managed to not only keep its value but increase it.

There are multiple benefits of holding Huobi Token, such as discounted trading fees, or the ability to participate in airdrops.

The token, like many other exchange tokens, also has a burning mechanism, which in this case means that 20% of the exchange’s revenue will be used to repurchase Huobi Token, and destroying it, making the token more scarce every time a burn happens.

Main Focus

Huobi is focused on making a balanced cryptocurrency exchange, so you can do your altcoin shopping, margin and futures trading, as well as cryptocurrency purchasing all in one place.

Frequently Asked Questions

Huobi has canceled access to US citizens from January 31st, 2020. It is still possible to trade using a VPN; however, this could get your account banned if you are caught, and you won’t be able to verify yourself to get higher withdrawal limits. The company is planning to return to the US markets.

It depends. You can withdraw smaller amounts of cryptocurrencies every single day, and the limit is changing based on the coin/token. If you need to move tens of thousands of dollars daily, you will have to verify yourself.

Huobi does not have insurance against possible hacks, but they have an insurance fund that could be used to cover losses. However, the losses could be bigger than the funds could cover, so please do not store your cryptocurrencies on an exchange.

No cryptocurrency exchange is fully safe, but Huobi is one of the oldest standing exchanges, and they have a very good reputation within the cryptocurrency community.

Pros and Cons

Pros

  • Wide variety of cryptocurrencies
  • One of the longest-standing exchange
  • Gives you the ability to margin trade
  • Reasonable fees
  • Gives you the ability to trade futures contracts
  • Has an OTC desk

Cons

  • Doesn’t allow US residents
  • Not insured

Fees

MakerTakerHuobi Token Holding
0.20% 0.20%≥ 0
0.18% 0.18%≥ 10
0.16% 0.16%≥ 100
0.12% 0.12%≥ 500
0.09% 0.09%≥ 1000
0.08% 0.08%≥ 2000
0.07% 0.07%≥ 5000

Review Summary

Ease of Use
8.5
Reputation
8.2
Security
8.4
Fees
8
Payment Methods
8.5
8.3/10
OVERALL SCORE

Disclosure: The links in this review are referral links, which means that by registering to the exchange using our links, you are helping this website to keep running, which allows us to pay for hosting and work on quality, fact-based reporting. We did not contact anyone before writing this review, and we rated them to our best knowledge.

Recommended Tools