Huobi was founded in 2013 as a cryptocurrency exchange focused on servicing the Chinese market. Thanks to its early-mover advantage, it quickly rose to prominence as one of the top three exchanges in the world and gained a large global following, particularly in China and the far east.
However, the crypto regulatory landscape has drastically changed in China, forcing Huobi to relocate to Seychelles and Singapore. It has since enjoyed considerable success and now provides a wide range of crypto trading services to millions of users in multiple countries.
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These services include options, spot, and derivatives trading, cryptocurrency staking, cryptocurrency loans, a P2P marketplace, an OTC desk and a variety of crypto yield generating products. Huobi even has its own blockchain network, the Huobi ECO Chain, the Huobi Token (HT), and a dollar-backed stablecoin (HUSD).
Trading Features on Huobi
Huobi provides many different cryptocurrency trading services including:
- A P2P (peer-to-peer) marketplace where users can buy and sell 8 different cryptocurrencies - ETH, BTC, USDT, HT, EOS, HUSD, XRP & LTC directly from other HUOBI traders.
- A spot trading platform to execute instant orders, market orders, limit orders, and stop orders. Margin trading is also supported for many tokens and trading pairs.
- A derivatives and options trading platform where users can invest in coin futures (both periodic and perpetual futures) as well as Tether-denominated contracts and perpetual swaps. For options trading, users can capture profit from market fluctuations by opening positions against different levels of spread in both American and European markets based on their risk tolerance.
Staking & Lending Features on Huobi
In addition to trading features, Huobi offers a myriad of staking (earn) features which include:
- Huobi Staking - A single-sided staking feature with flexible terms for 13 cryptocurrencies which are CRO, NEAR, ATOM, ELF, SCRT, BTT, AVAX, TRX, ADA, LUNC, SOL, ZIL, XPRT & CSPR.
- Huobi Earn - Another single-sided staking option but with fixed or flexible terms and for over 45 cryptocurrencies. The APY (yields) vary depending if you choose fixed or flexible staking terms.
- ETH 2.0 Staking
- Crypto Loans - Cryptocurrency borrowing services with fixed terms from 30 days to 90 days with interest rates from 12% - 18%. Use other tokens as your collateral to borrow over 50 cryptocurrencies.
- Primepool - A feature that offers free airdrops to users who stake a certain token on the platform.
Beyond cryptocurrency investing, Huobi also offers an extensive educational blog that helps guide crypto beginners and experts called Huobi Learn. It also offers an attractive rewards hub where new users can earn up to $300USD straight away for completing simple tasks like downloading the application.
When it comes to fees, Huobi has some of the lowest available in crypto. For spot trading, the fees begin at 0.2% for a new user and get as low as 0.07% the higher your monthly trading volume is. This is much lower than the industry average of 0.5%. And for derivatives, the Maker/Taker is 0.02%/0.05% and can get as low as 0%.
As for deposits and withdrawals, it is free to deposit on Huobi but withdrawals are subject to gas (network transaction) fees. To see a full breakdown of the fees, we recommend visiting Huobi’s Fee Schedule.
Is Huobi Safe?
Huobi offers standard security features including two-factor authentication (2FA), cold storage of tokens, and a comprehensive KYC process. It also has network infrastructure and systems in place to help prevent DDOS attacks, and the exchange also holds a Bitcoin reserve as a backup for repaying users in the unlikely event of a loss of user funds.
In terms of compliance, Huobi strives to operate only where it is legally allowed to. For example, Huobi cannot and does not operate in the US, but many services can be accessed by US-based users if they can pass KYC with legitimate documentation. So, users from many countries can legally use the platform without any regulatory issues.
Huobi Global supports all of the leading crypto tokens and assets and a total of almost 400 tokens in hundreds of trading pairs. If you cant find your desired cryptocurrency on the platform, you can easily apply for the token to be listed here. Users can receive trading discounts for holding and paying trading fees in the Huobi Token (HT).
Huobi offers 24/7 support via its Live Chat feature, online ticketing system and email. The platform also has an extensive library of help and educational articles and tutorials on its Huobi Learn platform.
Additionally, the Huobi exchange has many online communities you can join for support, competitions, events and updates including Telegram, Twitter, Facebook, Instagram, TikTok, Youtube, Discord and Medium.
Despite several challenges – from allegations of wash trading and the loss of operating licenses in important jurisdictions – Huobi is still one of the most popular and recognized crypto exchanges in the world. With a claimed user base of 20+ million and trading volumes in the tens of billions, it is a favorite destination of many crypto novices and professionals globally.
There are, however, several better-managed and more compliant exchanges, many of which provide the same or better services than Huobi. While Huobi remains a popular choice for crypto traders because of its geographical presence, you may wish to select a recognized exchange that provides more local or focused services in your jurisdiction.