Trade Like a Pro on Huobi

Huobi Global is a popular cryptocurrency exchange that can be considered universally accessible as the minimum deposit of $100 is acceptable even for novice traders. The platform features more than 300 trading instruments. You can trade on the web platform built into the user account, as well as from mobile devices using the Huobi app. Next, we will look at all the important features of Huobi, including fees, advantages, disadvantages, and more.

Huobi Global is the world’s leading cryptocurrency exchange that provides its users with a secure and easy-to-use platform to trade their crypto assets. Currently, it is among the TOP 3 largest exchanges in terms of trading volume.

Huobi provides a range of blockchain-based financial services: futures trading, buying, selling, and exchanging cryptocurrencies, staking, deposits, and loans. Huobi market provides trading and asset management services to tens of millions of people in more than 130 countries. The big advantage of Huobi is its multi-platform nature, thanks to which users can access it anytime, anywhere, from any device, be it iOS and Android, as well as Windows and Mac. The liquidity of the exchange is guaranteed, and orders are executed almost instantly.

The trading conditions provided by the Huobi exchange are competitive:

• The minimum deposit is $100 or 0.001 BTC. You can top up your account using any of the website currencies.
• Huobi exchange does not provide information about its spread widths, leverage, margin requirements, stop-out levels or minimum order sizes.
• More than 140 assets and more than 300 currency pairs are available on the exchange. 

Commissions

• The commission for opening an order is 0.2%.
• There are no hidden fees on the platform.
• It is possible to reduce commissions to 0.07% if you have at least the estimated 5 USD in HT, Huobi’s cryptocurrency, in your account.
• Huobi does not charge users any fees for deposits or withdrawals but be careful as payment processors (Visa, PayPal, etc.) usually set their fees.

Advantages

Disadvantages

Huobi is ranked in the TOP 3 in terms of global trading volume, providing high liquidity and a variety of order types.Many cryptocurrency pairs are available for buying, selling, and trading in addition to traditional ones, including gems you cannot find on any other exchange.Easy to withdraw cryptocurrencies using the blockchain of your choice, keeping fees for moving your funds to a minimum.$170 Welcome Bonus for New UsersLow commissions.

Leverage is a bit low compared to what other exchanges offer.Its interface can be somewhat complicated to understand for a beginner trader.

There are various methods available for depositing funds: cryptocurrency, stablecoins, and fiat currencies.

To deposit money into the exchange, follow these steps:

1. In your account, on the top menu bar, select the “BALANCE” tab and select the account type.
2. Specify the currency for replenishment and click “Deposit”.
3. In the new window, click “Submit Deposit Address”. Before proceeding, please make sure that the deposit address in the email matches the address on the website. If the addresses match, click “Confirm”. If not, abort the procedure and contact support.

To make a quick purchase using a credit card, follow these steps:

1. In the BALANCE section, select Credit Card.
2. Specify the currency for payment (USD or EUR) and the required amount.
3. Specify the cryptocurrency you want to purchase and the desired volume.
4. Click “Buy”.

The withdrawal procedure from the Huobi platform is similar to the deposit procedure, except that instead of the “Deposit” section, you select the “Withdraw” section. Then you need to specify the address for the withdrawal of funds, the volume and view the total amount taking into account the commission. If everything suits you, click “Withdraw”.

Huobi is committed to providing a secure investment platform and therefore uses several security measures:

• Cold storage of user funds.
• Complies with KYC/AML rules.
• The site has an SSL certificate.
• 2-factor authentication.
• Platform monitoring 24 hours a day.
• Has an insurance fund to protect users from unexpected losses.

Huobi offers over 200 cryptocurrencies for trading on its platform. This figure is truly surprising when compared to any other exchange. In addition, it also offers various financial products that will allow you to have more asset options.

Cryptocurrencies

Huobi market offers a wide selection of cryptocurrencies that you can invest in. You also have the opportunity to buy or sell more than one cryptocurrency:

• Bitcoin (BTC).
• Tether (USDT).
• Ethereum (ETH).
• Bitcoin Cash (BCH).
• Monero (XMR).
• Dash (DASH).
• Metal (MTL).
• Litecoin (LTC).
• Ripple (XRP).
• Stellar/Lumen (XLM).
• Ethereum Classic (ETC).

Contracts

Huobi futures contracts are based on Bitcoin and Ethereum. They allow traders to speculate on the future price of cryptocurrencies. Contracts are traded on the derivatives market and settled in cash. There are two types of contracts: monthly and quarterly. Both types have a minimum contract size of 1 BTC or ETH and a tick of 0.01%. The leverage for the Huobi coin contract is 20x, and for Ethereum it is 10x. The platform currently offers three Ethereum-based futures products:

• ETH/USDT: An inverse contract that allows traders to speculate on the price of ETH relative to USDT.
• ETH/BTC: This is a Huobi spot contract that allows users to speculate on the value of ETH in relation to BTC.
• ETH/USD: A perpetual contract that allows traders to speculate on the price of ETH against the US dollar.

In the table below you will find descriptions of three more products: Stakes, Earn and Primepool, each of which has its features.

Staking	Earn	Primepool
Cryptocurrency staking is a financial product provided by Huobi Global that allows you to lock a certain amount of cryptocurrencies for a predetermined time in exchange for a given profitability.	Huobi Earn is an investment product that allows cryptocurrency holders to earn income from assets rather than simply storing them in their wallets. You just need to transfer your crypto assets to your Huobi Earn account.	Through the Primepool product, Huobi offers you to stake your cryptocurrencies for a certain period in exchange for receiving token rewards from new and high-potential projects. Huobi Exchange periodically adds new blockchain projects to Primepool, which opens up great opportunities.

How to trade on Huobi

Let’s see how to trade on Huobi Exchange step by step:

1. Register an account by going to the Huobi website.
2. Deposit fiat currency, buy with a card, or transfer cryptocurrency.
3. Create your first order in the “Exchange” section and start trading.