Huobi Global allows customers to buy, sell, as well as margin trading in cryptocurrencies, provides cashback.
Huobi Global is one of the largest Chinese exchanges, which was founded in 2013 in Beijing. The platform allows customers to buy, sell, as well as margin trading in cryptocurrencies. At the moment, the exchange is among the top ten largest exchanges in terms of trading turnover.
In our review, we will take a closer look at the features implemented by the project and find out whether Huobi Global is a scam or a reliable platform for cryptocurrency trading.
Why Huobi Global?
Huobi Global is an established exchange that appeared on the financial market in May 2013. The interface of the huobi.io platform is translated into 12 languages, including Russian, which indicates the focus on the international market. The main office of the company is located in Singapore, from where the project is regulated.
The organization provides its customers with comfortable and favorable conditions for cooperation. Traders have the opportunity to work with more than 200 cryptocurrency pairs, which in turn are divided into three main markets – VTS, ETN and USDT (how to earn on cryptocurrency?). The platform’s listing includes the most in-demand cryptocurrencies combined with little-known forks. The exchange also has its own HT Huobi Token, which allows users to get a discount on any type of commission on the platform. What’s more, customers get to vote to make important decisions. The website features a blog with informative articles regarding the latest news of the company. All the information is presented in English. For beginners there is also a detailed manual with instructions.
The trading terminal has a good functionality and allows customers to build different charts, use options to customize them, choose time intervals. Also, technical indicators can be found in the platform. Clients have an opportunity to place market and limit deals.
The page of the trading terminal itself is conditionally divided into several parts:
On the left, the client can find the main markets. Also the cryptocurrency rate can be switched to the Russian ruble, which is very convenient.
In the middle there is a chart of the price movement for the asset, as well as displaying the tools and indicators available for trading. You can select the interval of price movement and change the type of screen to the extended version.
In the right side you can find the stacks of trades to buy and sell cryptocurrencies (cryptocurrency trading strategies).
Above the chart is a digital change in the value of the price per asset.
For those customers who are often on the road or do not have the opportunity to enter the platform through a computer, a mobile version of the exchange was created, as well as the software for the computer, available on Windows and Mac. The mobile version can be downloaded for both Android and iOS systems.
Among the main advantages of the exchange Huobi Global are:
- Active development of the platform.
- The presence of high-quality translation of the site into Russian.
- A professional system for evaluating blockchain assets.
- A special system of protection against DDoS attacks.
- 98% in cold wallets.
- Service centers around the world.
- Mobile version of the application is available.
How to exchange cryptocurrency on huobi.io platform?
To make a cryptocurrency exchange, you should perform the following actions:
- First, you need to select the necessary pair from the options presented on the exchange;
- select the type of order;
- enter the desired amount of the asset;
- click on the buy button.
Verification on the Huobi Global platform
Verification is optional on the project, but it affects the maximum amount that the user can withdraw per day. So, an unverified customer can withdraw up to 2,500 XRP in 24 hours, while a verified customer can withdraw 4,000,000 XRP. To go to the verification process, you have to go to your profile and click on “Verification” in the menu. Then a form appears in front of the participant, in which it is necessary to specify the citizenship, passport number, driver’s license or other legal document, name and surname, as well as to upload a photo of the informative page of the document. There are the following requirements for the image:
the file must be in JPG or PNG format with a size of not less than 5M;
information in the document, especially document number, last name, first name and middle name, should be clear and unaltered.
After passing the verification, you will need to wait for a response from the organizers. On average, the process may take several days to several weeks.
Deposit and Withdrawal
To deposit money, you need to go to the site and click on the line “Deposits”, then from the drop-down list click on “Deposit and withdrawal”. Then opposite to the necessary currency which the client wants to deposit, it is necessary to click on “Deposit”. This will open a page where you should make some simple actions:
choose where you want to deposit the funds: currency account or margin account;
To copy created address of digital wallet, where funds will be transferred to.
This address will need to be entered into the “Recipient’s address”, from where the user wants to transfer funds.
Withdrawal of funds
In order to withdraw earnings from the exchange, you must on the same page “Deposit and withdrawal” opposite the desired cryptocurrency click on the “Withdrawal” button and fill out the form that opens:
specify the address of the wallet to which the withdrawal will be made;
Enter necessary amount of coins to withdraw;
see the information about commission and final sum that will be received to the specified purse number;
click on “Withdraw” button.
Huobi Global Crypto Exchange Commission
The commission of the exchange depends directly on the currency used, as well as the trading volume. A taker often pays 0.1% of the transaction amount. Takers who close a trade pay a commission that depends on the trading volume of the currency for the last month. If the user works with dollars, the commission is formed as follows:
- > 50 BTC – 0.2%;
- 50 < BTC – 0,18%;
- 200 < BTC – 0.16%;
- 600 < BTC – 0,14%; 600 < BTC – 0,14%;
- 1500 < BTC – 0.12%;
- 5000 < BTC – 0.1%;
- 10 000 < BTC – 0,08%.
Withdrawal commission
Clients are assigned a vip-level, which directly affects the withdrawal commission:
- 0 level (0 points) – 0.5;
- 1 level (10 000 points) – 0.45%;
- 2 level (100,000 points) – 0.4%;
- level 3 (300,000 points) – 0.38;.
- Level 4 (500,000 points) – 0.35%;
- 5 level (1 000 000 points) – 0,3%;;
- Level 6 (only available on a paid basis) – 0.3%.
Huobi Global Bonuses.
For its customers, the company provides a bonus in the form of cashback, the essence of which is for the user to invite new members to the project huobi.io. Cashback is returned to the account in USDT, points or HT. The cashback coefficient is 30%.
Regulation of the crypto exchange huobi.io
Among crypto exchanges there are a large number of conscientious companies, as well as many scammers who cheat users. To protect yourself from cooperation with a scammer, you should check the license and relevant documentation on the website. Let’s consider in more detail how the regulation of the project is carried out.
The regulator .
There is no information on the website of huobi.io that the company has a license. The organization is regulated by the laws of Singapore, where the project is headquartered. The organization’s contact information is publicly available.
Documents from huobi.io:
Read the “User Agreement” on the Huobi Global website (watch);
Read the “Privacy Policy” on the Huobi Global exchange website (watch).
Huobi Global User Agreement
“User Agreement” is the main document of the project, the rules of which should be read by every user before starting registration on the site. The agreement contains the main rules of cooperation as well as obligations of clients and organizers. Let’s look at some points in more detail.
At the beginning of the agreement there is information that transactions with digital assets have extremely high risks and are not suitable for the vast majority of individuals. The client must be aware of the fact that such investments can lead to partial or complete losses, so it is necessary to determine the amount of investment through the level of damage accepted. The company does not assume any responsibility for possible losses of the user.
The information presented on the website may change at any time without prior notice to customers. Also, the organizers do not guarantee the degree of accuracy of the information presented on the website, and do not bear any losses caused directly or indirectly by the messages on this website, the inability to connect to the Internet, the delay/disruption in sending or receiving any notifications and messages.
The rules of the agreement can be changed without prior notification of the customers. The organizers bring changes to the public notice by posting them on the site. The date of change will be marked on the first page of the amended agreement. The customers should review and follow the time of updating and the content of this agreement on their own.
The organizers reserve the right to correct, suspend or terminate the services of the website, and in case the services are changed or suspended, the client may not be notified in advance. If the client has not used the account and password to log in within one year, the company has the right to cancel it. After canceling the account, the corresponding user name becomes available for registration and use by others. The agreement also states that if the customer violates the agreement or other laws and regulations, the customer must compensate the company for a minimum of $2,000,000 and all expenses incurred in connection with the violation, including attorney’s fees. If this amount is not enough to compensate the actual losses, the user must repay them in full.
Traders should understand and accept the fact that the organization is not responsible for such factors:
- loss of income;
- Loss of profits from transactions or contractual losses;
- interruption of transactions;
- foreseeable monetary damages, which can be reduced;
- loss of information;
- loss of opportunity, damage to business reputation or publicity;
- damage to or loss of data;
- the cost of substitute products or services acquired;
- any indirect, special or consequential loss or damage caused by breach of rights (including errors), breach of agreements or any other
- cause, whether or not the company could have foreseen such loss or damage.
The user understands and accepts that the organization shall not be liable for compensation for any damages caused by any of the following circumstances:
- there are serious violations of law or breaches of agreements in specific transactions;
- the user’s actions on the site fall under the suspicion of violating the law or are not in accordance with the standards of morality;
- costs and losses caused by the actions of acquiring, obtaining any data or carrying out transactions through this platform;
- misunderstandings by customers of the services of the site;
- other losses related to the services provided by the site occurring through the fault of the organizer.
Support service
The support service can be contacted by one of the suggested options:
- email: [email protected];
- online chat.
Also on the site you can find a separate page called “Help”, where the client can see the answers to the most popular questions.
Conclusion
Huobi Global is an exchange that has been providing its services to users for a long time. The platform allows buying, selling, as well as margin trading in cryptocurrency. For 6 years of operation, the project has become popular among customers around the world. On the website, the user can find a large variety of tools and indicators that make trading more comfortable. However, before starting cooperation with the company, the client should carefully study the rules in order to be aware of possible risks. Now the platform looks good among the competitors. If you were or are a client of Huobi Global, leave your impressions about the company’s work on our website to form an independent rating of cryptocurrency exchanges.
