Huobi Global Review
Huobi Global is an industry-leading cryptocurrency exchange with a significant presence in Asian markets. Huobi was established in 2013 and is a provider of an ecosystem for digital assets. This ecosystem includes spot trading, trading derivatives, staking, cryptocurrency loans, and more. In this Huobi Global review, we’ll talk about the platform’s features and ensure you understand how great they are.
In 2013, Huobi Global was established in Beijing to provide a trading platform for cryptocurrencies to individuals in mainland China and abroad. The platform swiftly developed to be one of the three major cryptocurrency exchanges in China, offering Bitcoin dealers a substantial amount of liquidity to work with.
However, Huobi was compelled to relocate its cryptocurrency trading services outside of China in 2017 due to the evolving legal situation in China. After that, the business established itself as a legal entity in the Republic of Seychelles and moved its headquarters to Singapore.
Huobi Global is among the most liquid cryptocurrency exchanges in the world due to the successful expansion of its userbase into countries other than China.
Both Android and iOS users can download the mobile app version of Huobi Global’s platform to use on their mobile devices.
The amount of Huobi Experience points amassed by a user qualifies them for one of several VIP account tiers offered by the exchange. Users’ trading volume and the amount of bitcoin they have on the exchange factor into the amount of EXP they earn. A user’s ability to level up to Advanced account, Insider account, Premier account, Ambassador account, or Partner is determined by the amount of EXP they have accumulated in the most recent thirty days.
VIP account users receive various benefits, including enhanced limits, gifts, and even account manager.
A fee model of maker-taker determines the fees charged by Huobi Global, and high-volume traders who own HT tokens are eligible for savings on their fees. Whether you are the maker or the taker in the transaction will determine the fees you are responsible for paying.
There is one price structure for regular accounts and another charge structure for professional accounts regarding trading. To qualify for a professional account, you must have a very high trading volume (at least 2,000 total).
Opening An Account
To create an account with Huobi, you must provide both an email ID and a password when prompted to do so. After then, a confirmation email will be sent to your inbox, and you’ll need to validate your email address. After you have validated your email ID, you will have access to the site, at which point you can investigate its offerings, including its products and services.
However, your trading and withdrawal restrictions will be significantly reduced if you go with the basic registration. To finish the identification verification process and raise those restrictions, you will need to present a document issued by the government as proof of your identity.
Standard security measures provided by Huobi Global include identity verification as well as 2FA, cold storage, and more. In addition, it has defenses in place to avoid distributed denial of service (DDOS) assaults. It also maintains a backup of Bitcoin to compensate for any security vulnerabilities that result in clients losing their cash.
The following is info regarding a selection of Huobi Global’s available security options:
Cold wallets: Huobi Global Storage is known as a cold storage facility. 98 percent of the user’s cryptocurrency holdings are kept in offline cold storage wallets and demand multiple signatures. It keeps users’ crypto off the internet, where it is protected from potential attackers.
Account Freeze: Users can freeze their accounts if they have reason to believe that their accounts have been used illegally.
2FA (Two-factor authentication): Users have the option of enabling 2FA by utilizing Google Authenticator to safeguard their account better using a 6-digit password that was randomly created.
Bitcoin Reserve: Huobi maintains a reserve of 20,000 BTC that is held in offline storage and ready to be used to reimburse customers for any unexpected cyber-attack.
It is a desirable site for seasoned crypto traders since Huobi Global offers deep liquidity, a broad range of cryptocurrencies, and a comprehensive array of options to earn income.