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.
|US Residents Allowed||No|
|Exchange Token||Yes, Huobi Token|
|Withdrawal Limit Without KYC Documents||Depends on the Coin/Token|
|Crypto-to-Fiat||Yes via OTC Desk (Large Orders Only)|
|Bank Deposits||Yes via OTC Desk (Large Orders Only)|
|Bank Withdrawals||Yes via OTC Desk (Large Orders Only)|
|Credit/Debit Card Purchases||Yes|
|Trading Fees||Not Fixed | See Fees|
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.
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.
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 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.
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
Pros and Cons
- 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
- Doesn’t allow US residents
- Not insured
|Maker||Taker||Huobi Token Holding|
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We did not contact anyone before writing this review, and we rated them to our best knowledge.