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How to use Huobi exchange? Step by step guide
Huobi continues to march forward as a crypto power tool with the recent launch of the cryptocurrency derivatives network. More on that later, Huobi is now the third-largest crypto exchange according to the latest rankings from the Blockchain Transparency sector. Even in this crypto liquidity trouble, exchanges are going quite well with over 100,000 users and a daily volume of 500 million dollars. Keep in mind that before the recent slump in the crypto exchanges, those numbers were much higher. Huobi exchange packed his bags and made Singapore his new home base. It also marked the beginning of its ambitious expansion plans for the company, with company openings in Japan, the United States, and Hong Kong with the provider available in more than 130 countries around the world. This was achieved through subsidiary Huobi Global, which has fostered partnerships in these and many other countries to gain a foothold. The most recent step was the establishment of another subsidiary, Huobi Mena, in the mid-East, which will act as the regional headquarters for the exchanges in the Middle East and Africa. Huobi continues to operate in China but is subject to a platform advisory deal with financiers. Let's look at some of the ambitious and promising strategies Huobi has undertaken since its inception, aside from investing in more than 50 upstream and downstream companies. How to use Huobi exchange? Step by step guide
How to use the Huobi exchange? Video and pictorial narration
Huobi Exchange Mining
Huobi mining was set up primarily to meet the needs of the large mining platform by integrating the trading network with the mining community. The miners can use this facility to deposit, withdraw or trade various crypto assets on one of the two networks - Huobi Exchange or OTC.
The mining was created in March 2018. After that, it has grown in strength by 3 % of the complete pool and is currently at £ 8. The most recent jump came after the Huobi Token was issued - the first sub-token created for the Huobi exchange native HT. Huobi, the third-largest cryptocurrency exchange in the world, has also launched a new stable coin, HUSD, which is called a comprehensive and integrated solution for all stable coins. HUSD aims to solve the complexity of choosing between the stable coins available and to reduce the cost of exchanging between them.
The exchange has been in the cryptocurrency business for a long time and is featured in one of the first crypto exchanges in the world. Huobi has secured investments from well-known names in the venture sector. The company employed more than 1,300 talented people worldwide to conduct its activities in over 130 countries.
Huobi executives are skilled and experienced PC engineers with a strong background working in Fortune companies such as Oracle. Huobi was founded with a vision to replace fiat currency with a secure cryptocurrency. Initially, the company focused only on China and later expanded its facilities in various countries around the world. The platform managed to secure third place among other cryptocurrency networks in terms of daily trading volume in the exchange.
Registration At The Huobi Exchange
Huobi sign-up button - Our Huobi check showed that it is very easy to sign up at Huobi. The registration process should usually be completed within a few minutes. It is now even possible to buy Bitcoin immediately from the Huobi Exchange using a card. Therefore, the exchange is theoretically now also suitable for inexperienced crypto beginners. The entire registration process is also carried out in different languages. We would therefore like to help you in the following section to better understand the Huobi registration process. In the following, we explain the Huobi registration step by step.
The first step of registration is similar to that of other crypto exchanges. You have the chance of registering with your mail or your phone number. To do this, you must enter your nationality and either a valid phone or mail. Then you have to choose the desired password. You can optionally indicate who recommended you an invitation password. There is also the opportunity (hidden in the small print below) to open an institutional profile. In the following Huobi review, however, we will focus on a personal profile.
The Verification Process
Within a few seconds, you should now receive a confirmation message with a “Verification number”. Simply enter the password from the mail on the Huobi registration page to confirm your email.
Huobi Verification
You can now log into the Huobi page. However, if you want to have complete access to all exchange functions, you now have to verify your ID. Simply click on the little account sign in the upper right corner and on “Verification”.
Verification Helps Prevent Money Laundering
It should be noted that Huobi customers usually enjoy great anonymity. That's because the exchange isn't officially regulated. However, it should be noted that completely anonymous trading is not possible, as the broker must adhere to the applicable money laundering laws and simple personal information of the users is entered as part of the registration.
For identification, you must enter your ID, your first name, and surname and upload a picture of your ID. The review of the data by the account should generally not take more than 24 to 48 hours to complete.
The Offer
When choosing a crypto exchange like Huobi, investors should pay particular attention to the range of cryptocurrencies as well as the level of fees and costs, and the user-friendliness of the network. These are therefore the most important evaluation criteria in our Huobi report. The large selection of trading pairs, customer service, and many additional functions speak in favor of the Huobi exchange offer.
Institutional Trading Accounts
As one of the largest exchanges in the world, Huobi has drawn the attention of financial traders and accounts around the world year after year. For this reason, Huobi has set up a separate trading desk for finance and corporate users that includes both OTC and dark pool trading.
Derivatives Trading
Under pressure from other main exchanges, Huobi has also introduced its own derivative products for futures and swap trading. Different products can be traded with a leverage of up to 5x.In addition to trading in derivatives, Huobi has become one of the leading providers of margin and C2C loans.
Huobi Token
The Huobi platform offers to trade in the HUSD stable coin. HUSD is a stable coin that is pegged to the dollar at a 1: 1 ratio. As an ERC-20 coin, the cryptocurrency can also be traded with many other cryptocurrencies on the Huobi Exchange.
Large Selection Of Trading Pairs
Huobi - you almost never have to see the same digital asset twice if you don't want to. This is because the exchange has a great selection of trading pairs. In fact, even half of the cryptocurrencies offered by Huobi are unknown to us.
This is because Huobi's selection attaches great importance to strategies from Asia. As a result, there are a particularly large number of up-and-coming coins from Korea and China on the Huobi platform. You will therefore not find many of these on western exchanges.
The Huobi Cryptocurrencies
When looking for an exchange for cryptocurrencies, the offer naturally plays a very important part. As mentioned earlier, the selection of cryptocurrencies at Huobi is excellent. A special feature is certainly the Huobi token, but no matter whether you want to trade with Huobi - Bitcoin or a still unknown coin, the choice is almost endless.
Payment Ways At Huobi
Huobi Payment - Unfortunately, fiat Huobi only supports a limited amount of deposits. The provider mainly supports deposits with cryptocurrencies. Otherwise, it is possible to deposit and purchase cryptocurrency with a card. As a security tip, we advise you to only deposit as much money as you actively need to trade. It is good to save coins that you do not want to actively trade with on a private wallet and not leave them on the Huobi account.
This is the right way to protect yourself from unauthorized access, even if the vast majority of Huobi's crypto assets are in cold wallets that are not connected to online trading.
Is There A Huobi Wallet?
Huobi Wallet- After buying a cryptocurrency, you need to be able to access it. The codes for accessing cryptocurrencies are stored in wallets. Wallets can be online where they are known as hot storage. Or offline, where they are known as cold storage. Note: A wallet has public and private keys. You can give your public key to anyone and they can send you cryptocurrency. Your private keys should not be shown to anyone! Think of that as an email. The public key is your address and the private key is your password.
As you have already learned in our Huobi review, Huobi is a crypto exchange that can but should not be used as a wallet. Huobi uses storage for both hot and cold wallets. You should never keep all of your cryptocurrency online. A mixture of hot and cold storage is the best thing. It is also better if you keep the hot and cold storage outside of Huobi, so you reduce the risk of being damaged by a cyber attack.
Is There A Huobi Application?
The number one trend towards mobile crypto trading is increasing. More and more traders prefer the mobile offers of the brokers to the desktop variant. The Huobi broker has also taken note of this development. As a trader, you have the option of using the Huobi tools on the go.
Because Huobi offers a complete-fledged application for Android and iOS. The Huobi report shows that the Huobi application proves to be very easy to use and enables a great and complete Huobi experience, as you remain flexible with the app and are not tied to your desktop at home, but can also trade crypto while on the go. The Huobi application is completely free to download and use.
The mobile offer is easy to use and offers a pleasant Huobi option to the desktop version. The core functions are covered and the application also offers the chance of trading cryptos on the go. Although the Huobi application is well thought out and offers important core tools, it is not completely convincing in comparison with other providers. There are crypto brokers that offer an even better mobile trading experience. So Huobi is not the most perfect provider here. If you want to trade profitably with cryptocurrencies, you should take a closer look at our multiple report winner.
License and Security Of The Huobi Exchange
If you want to invest in cryptocurrencies and are looking for the right provider, you should only contact the most experienced brokers on the market who work with a valid license. However, there are so many different crypto providers that you can quickly lose track of who really is a high-quality provider. We have carefully examined the Huobi Exchange with regard to its seriousness and can assure you that the provider is working securely.
As you would expect from an exchange as large and well-developed as Huobi, cybersecurity measures to protect the exchange and its traders are important. The exchange itself is based on an advanced distributed design. 98% of the assets are in cold storage with multiple signatures, so they are not available online.
In the years since its inception, there has been no known security breach and it can be assumed to meet the highest basics for cryptocurrency and regular market exchanges. However, no exchange can promise 100 % security. There is always a certain residual risk when storing cryptocurrency. But if you don't want to worry about additional safety precautions and fear for your coins, you should pay a visit to our test winner and Huobi review.
The provider of crypto CFDs simplifies the crypto trading through online trading, from which inexperienced traders in particular benefit. Exchanges enable traders to share in the success of other successful traders by similar wallets and strategies. In addition, the Huobi exchange offers various training opportunities. You do not have to worry about the safe storage of your coins when trading CFDs, as you do not own the coins directly.
Author: Emre Ata Author LinkedIn