VOLUME OF TRADE
Chairman, Founder and CEO of Huobi Global
Leon Li is the founder and CEO of Huobi Group. As a graduate of the Automation Department of Tsinghua University, Leon became a pioneer and serial entrepreneur in the financial technology field. Before establishing Huobi Group in 2013 and transforming it into one of the world’s leading digital asset financial services providers, Leon worked as a computer engineer at Oracle, the world’s largest database provider.
Huobi Global is a digital currency exchange or platform based in China. It is headquartered in Singapore and has offices in several other countries or jurisdictions. Its name means “hot currency” in Chinese. Following the government ban on Bitcoin exchanges in 2017, the company moves its headquarters to Singapore, but continues to operate as a blockchain consulting and research platform in the Chinese market.
In 2018, Huobi cryptocurrency exchange becomes publicly listed on the Hong Kong Stock Exchange and now has offices in Hong Kong, Korea, Japan, Russia and the United States. Its San Francisco-based US operations are operated by HBUS Holdco, Inc., a US-based company and strategic partner of Huobi Global.
Huobi Global claims to be one of the largest digital asset trading service providers in the world and strives to forge strategic partnerships in every country it belongs to; He is said to be planning expansion into the Middle East, Brazil, Vietnam, UK and Europe markets.
Seven years of experience in digital assets
The Huobi team is committed to providing safe, professional, trustworthy, world-class services to its global customers around the world.
Between September 15 and November 1, 2017, changes in the rules of the Chinese government reduced Huobi’s trading volume by 95%. While trading has gradually recovered, the leadership group decided to launch their own cryptocurrency, Huobi Token (HT), in order to boost customer engagement, especially with their premium product offerings.
HT is an exchange coin traded with any cryptocurrency on the Huobi exchange. It was launched in January 2018 and 300,000,000 of all HTs were distributed on a first come, first served basis to Huobi’s VIP subscribers. The HT Ecosystem has five different membership tiers, offering discounts from 10 to 50% on transaction fees depending on the tier.
Another significant advantage of owning HT is the ability to vote on exchange decisions, including which new assets will be listed on the exchange.
In 2014, Huobi Group raised $ 1 million in Series A funding through ZhenFund and Sequoia Capital, raising another million through ICOs in 2017. In 2018, its combined turnover exceeded $ 1.2 trillion, and it was named the world’s largest digital asset exchange. with a global share of 50%, providing services to users in more than 130 countries. The company offers over 190 cryptocurrency pairs and only has access to 400 markets.
Based on the underlying blockchain service, we are creating a blockchain ecosystem that integrates R&D technology, digital asset research, an open platform and private investment into a coherent whole.
Huobi focuses on customer security and protection, and a reliable and secure platform, so the company has adopted specific security procedures. It leverages offline cold storage, tiered verification processes, and collaboration with Goldman Sachs and industry experts.
Huobi has never been attacked by a hacker, although it is a profitable target for attackers. The exchange takes these threats seriously and does everything it can to protect the exchange from hacks. It is also worth mentioning that Huobi keeps user funds in cold storage to restrict access to them, and uses tiered verification processes and collaborations with Goldman Sachs and industry experts.
The trading platform is simple and straightforward and offers leveraged trading (clients must sign an additional agreement). In addition, there is a mobile application. Unlike other exchanges, the trading platform displays coin statistics and informs the trader about the coins.
The exchange offers a wide variety of coins to trade in many markets, and many users choose to place their funds and trust the company due to their proven track record, their impressive team and their lucrative opportunities that go beyond regular exchanges.
HUOBI CRYPTOCURRENCY EXCHANGE
Huobi cryptocurrency exchange is one of the leaders in the digital currency trading segment.This platform consistently occupies the top positions among exchanges in terms of transaction volume, offers a large selection of assets and provides a high level of reliability.
The Huobi cryptocurrency exchange was founded in Beijing before the rapid growth of bitcoin. Since opening in 2013, the company has become one of the most popular cryptocurrency exchanges in Asia. And starting in 2018, all over the world. The trading volume on this platform has significantly increased after the acquisition of the international company BitYes. This transaction opened access to the exchange to Western investors. On The coinmarketcap portal, the Huobi platform is in the Top 5 platforms by trading volume per day.
Users who have registered on Huobi have access to a large selection of modern tools for working with digital currencies. It also has support for automatic trading.
The exchange interface will translate into 12 languages, including Russian. The translation quality is good – users from the CIS countries will be able to work on the site without any problems.
Huobi Global is currently headquartered in South Korea. Branches are open in countries such as:
According to data found on LinkedIn, Huobi Global now has more than 400 employees.
The Huobi platform has a convenient functionality that even a novice trader can understand. This allows traders to quickly adapt to the terminal and quickly find the necessary information and functions.
There are other features of the Huobi crypto exchange that you need to pay attention to:
- The platform is multi-currency and offers a large number of useful features. Traders can buy both those cryptocurrencies that are already in the Top (BTC, LTC, XRP, BCH, ETH), and coins that are only gaining popularity (ICX, STRAT, BLZ).
- On the exchange, you can use margin and classic virtual currency trading.
- The Huobi platform has its own token – Huobi Token (HT).
- You can trade on the exchange without passing verification. This makes it easier to work on the site, and makes it attractive to most of the community.
- Traders can connect various specialized automated programs (bots) to the trading process. The Huobi platform page is available on GitHub. There you can find all the necessary information about configuring the API.
- The exchange is focused on attracting new users and for this reason is developing simultaneously in several regions. These include Asia, as well as Western and Eastern Europe. The company is actively opening new representative offices and offices in these territories.
- Huobi has its own compensation Fund. It performs the function of insurance in case of burglary and theft of means of registered traders. If the digital money is lost, the Fund will pay the necessary amounts in accordance with the platform’s rules.
- High level of protection. To avoid the theft of funds by hackers, all cryptocurrency belonging to users is moved to “cold” wallets with multi-signature. To increase the level of security, we added features such as linking an email address to your account, activating Google Authenticator, and enabling sms authorization when logging in to the platform’s website.
- The Huobi exchange has a blockchain incubator. More than $ 1 billion has been invested in this system. The founders of the platform invest such resources in revolutionary blockchain projects and promising startups. This means that users of the exchange can try to get funding for their project. A voting system is used to promote the best ideas. Traders can support the project they like by increasing its rating within the platform.
- Huobi customers can earn additional income by participating in the partner program. By attracting new traders using referral links, you can get up to 30% of their commissions on the platform.
In addition to the ability to sell and buy cryptocurrencies, the function of its exchange is available, including for Fiat currency.
Another important feature is the fact that the Huobi exchange has launched a new market index. It is used to track the rate of 10 selected digital assets in relation to the USDT token. Such monitoring takes place in real time. The index is useful because it allows you to evaluate the effectiveness of the exchange itself and the situation on the crypto market as a whole.
The Huobi token meets the EPC-20 standard, and its exchange Ticker is HT. It is a virtual currency that is used as an accounting unit on the platform itself. At the same time, the token is traded not only on this exchange, but also on external trading platforms and exchangers.
This token is one of the key elements of the Huobi exchange system. It is mainly used to pay commissions for trading operations, but there are other applications:
- as a common tool for margin trading;
- for the purpose of earning on the exchange rate difference;
- to invest in projects that seem promising.
The token rate is affected by various factors. One of the key ones is the total number of HT coins and the liquidity of this digital currency. A total of 500 million Huobi Tokens were issued. But in 2019, there were just over 50 million HT in circulation.
To take advantage of all the benefits of the Huobi platform, you need to register. To create a user account, go to the main page of the site and find the “Register” button in the upper-right corner.
By clicking on it, the user is taken to a page with a form for entering personal information.
Here you will need to specify your citizenship, email address, and create and confirm a password. If you have an invitation code, you will also need to enter it.
After filling out the form, click on the “register” button, which is located at the bottom of the window. Next, you will receive an email with a special link to activate your account.
Verification is available on the Huobi platform, which users can complete at their own request. It can be useful for increasing the amount of cryptocurrency that is withdrawn from the exchange. Verification will also significantly increase the level of account protection.
To perform this procedure, you need to find the “Account and security” section in the upper-right part of the main window. In the drop-down list, select “Verification” and click on it. Then you will go to the desired form.
Here you will need to enter the following information:
- Passport number. The alternative is a driver’s license or other identity document.
- First and last name.
You need to upload a photo or scan of your ID card in the lowest field. It will take a little time to check it automatically. To complete the procedure, click the “Verify” button.
To log in, click on the “log In” button in the upper-right corner of the window and enter your registration data. This is your email address and password.
Account protection using only a password and email binding is not reliable enough. Therefore, there are two additional ways to increase the security level on the exchange:
Set SMS authorization. After activating this feature, you will not be able to log in without the code sent in an SMS.
To Use Google Authenticator. This method provides the highest level of protection.
You can enable these features in the “Account and security” section
Main sections of the Huobi platform interface
It will not be difficult to understand the site even for those who are just learning how to trade cryptocurrency.
On the left side of the main page, you can see the following sections:
- Market. This is an overview of cryptocurrencies available for trading.
- Fiat. Access to OTC trading – interaction with the market directly.
- Bidding. The main section for conducting trading operations.
- Margin. Opens up an opportunity for margin trading.
- Futures. This section is for those who want to trade futures.
On the right side of the site, you can see menu items such as:
- Balance. Here you can find functionality for adding funds to your account and withdrawing funds.
- Orders. Section for monitoring open orders, as well as viewing the history of operations.
- User profile. Personal settings, verification, etc.
At the bottom of the site, you can find the following useful sections:
- downloading the app;
- digital asset;
- user agreement, etc.
On one page, the user can get access to the necessary information and functions necessary for trading.
Working with the exchange is available on several platforms, depending on your preferred device:
- Mobile phone. The app is available on the App Store and Android platforms.
- PC. You can choose Mac or Windows.
- Web version. Working with the terminal via the site without using the app.
The Deposit and withdrawal of funds
For the beginning of active trading you need to credit your personal account. To transfer funds, select the “Balance” section on the right side of the screen and find “Deposit” in the drop-down list & Conclusion».
By clicking on this item, the user will be taken to a page where there is a list of available cryptocurrencies.
All assets that are traded on the exchange are available for replenishment. Therefore, a trader can make a Deposit in the cryptocurrency that they have available.
For this purpose, the unique address of the cryptographic wallet is used. You can copy it to the clipboard or save it by scanning the QR code. The minimum Deposit amount for a particular currency is indicated at the bottom of the page.
In the case of PTS, this is 0.001 bitcoins. For other currencies, the minimum Deposit amount differs and depends on their market value.
As a result, you need to complete the following steps to top up your account:
select the desired digital currency;
- click on the “Deposit” button on the right side of the page;
- copy the cryptocurrency address and transfer funds to it from another wallet.
Withdrawal of digital money is carried out using the same section. The sequence of actions is as follows:
- select the desired coin;
- click the “withdraw” button»;
- insert an external wallet address in a special line;
- specified amount;
- take into account the Commission and make a withdrawal.
After completing these steps, you must wait until the required number of confirmations is received in the network. When this stage is completed, the cryptocurrency will appear on the account.
Daily withdrawal limits depend on the coin that was selected. An example is Ripple. Its withdrawal limit for 24 hours is 2500 XPR. And the minimum amount of one-time input / output is 20 XPR.
These figures are relevant for users who have not passed verification. And after passing the identification process, the maximum limits significantly increase, while the minimum limits remain at the same level.
On the screen, you can see commissions for withdrawing different coins. For example, a value of 0.1 XPR is valid for Ripple.
A large number of currency pairs are available on the Huobi exchange. There are also different types of trading. But regardless of the type of activity the trader is engaged in, they will pay a fixed trading Commission for the trades. For both the seller and the buyer, it is 0.2%.
If you trade the platform’s internal token (HT), the Commission will be lower within the “support system”.
Huobi Token owners also have the opportunity to join the VIP club, which involves five levels of participation. At the first stage, a 10% reduction in the trading Commission becomes available to the trader. At the fifth level, this indicator reaches 50%.
In other words, depending on the user’s membership level, they will have to pay a Commission from 0.18% to 0.1%, which is significantly lower than the standard rate.
You can work with the market on the Huobi exchange through a convenient terminal. To open it, select the “exchange” section of the menu.
The terminal window is visually divided into several sectors:
Main markets (USDT, BTC, HUSD, HT, ETH). They are on the left. If desired, you can switch the display of the digital money exchange rate to the ruble.
The glasses of the trades that display bids for the purchase and sale of digital money. Located on the right side of the terminal.
The asset price movement chart is located in the center of the screen. It contains the necessary tools for trading (empty lines, Japanese candlesticks, etc.) and indicators (Balance volume, MACD, Bollinger Bands, etc.). In the same part of the window, you can change the screen type from the standard version to the full version. The last step is necessary for in-depth analysis of the market.
Digital value of the asset price change. You can see it above the graph. This part of the terminal displays the cryptocurrency exchange rate, the percentage change in price, volumes for 24 hours, as well as the highest and lowest points of movement for the day.
Form for buying and selling an asset. Placed under the chart. Green button – buy, red-sell.
Order history. Located at the very bottom of the terminal.
To buy or sell an asset, the user must first select the market in which they will trade. Then you will need to determine the appropriate currency pair.
After that, you need to select the order type. This can be one of three options:
Market. The order is executed immediately, at the best market price available at the moment.
Limit. The trader himself specifies the appropriate price. The order is executed only when it is reached.
Stop limit. Allows you to specify the opening price after the chart bounces from a certain level.
If necessary, enter the purchase price. Then the amount of the asset that the trader intends to purchase is indicated.
After entering the specified data, click the “buy” or “sell”button. Then the order is sent to the trading glass, which is located on the right side of the screen. When these actions are completed, you will have to wait until a buyer or seller is found (if a limit order was selected).
In General, the trading algorithm on the Huobi exchange can be called standard. Therefore, users with minimal experience in trading will find their way quickly.
If you look at the statistics, you can see that the main amount of cryptocurrencies is bought and sold within the framework of BTC, ETH and USDT. The last token is a full analog of the us dollar.
If you want, you can also trade via the mobile app. With its help, the client will be able to monitor the status of open orders, as well as track the latest news regarding cryptocurrencies and view statistics on digital assets.
To start trading using leverage, select the “Margin” button at the top of the screen. Borrowed funds are available both for long-term trading (to increase the asset price) and in short (to reduce the cost).
In the case of margin trading, you need to understand that this is a pendulum that makes an equally strong movement both in the direction of profit and in the direction of loss of funds.
Borrowed funds allow you to buy more cryptocurrencies for trading. But if there is an error in the forecasts, the losses will also be significant. If you work illiterate with the market, using the margin, you can quickly lose a significant amount.
Go to the “Margin” section and follow these steps to start trading:
- select a currency pair;
- top up your margin account (use the “Enter” button).
- confirm the operation;
- choose the trade option-long or short.
When closing an order in plus, the trader returns the money borrowed to the exchange, and keeps the net earnings for himself.
If you encounter any problems while trading on the Huobi exchange, users can contact the support service. But there is one difficulty: the specialists of this service conduct a dialogue only in English or Chinese.
To contact the technical support staff, you can:
special application form (tickets) on the site.
According to the reviews of exchange users, technical support works well – employees are really eager to help, communicate tactfully, and respond quickly.
Advantages of the Huobi platform
There are a lot of advantages to working on the Huobi exchange. These include the following features:
Huobi exchange is one of the top crypto platforms. In terms of total trading volume, it is in the top 5 in the world ranking.
Platform developers are constantly testing new technologies and adding modern trading tools.
A large selection of assets is available to the trader – almost 600 digital assets. There are new cryptocurrencies with good growth prospects.
You can start trading without verification.
A convenient platform with a large selection of functions.
Independent and professional system for assessment of blockchain assets.
Margin trading is available.
Most of the users ‘ funds (98%) are stored in “cold” wallets with multi-signature.
An increased level of security through the use of a distributed system of protection from DDoS-attacks.
Referral system. Users can receive 30% of the Commission of clients attracted to the exchange.
Availability of loyalty programs that allow you to reduce commissions.
Convenient and user-friendly interface.
Availability of mobile apps with full functionality on all popular platforms.
You have your own token.
All these advantages are complemented by the presence of a “Blockchain incubator”, created for the purpose of developing promising projects based on distributed registry technology.
The disadvantages of the Huobi exchange are few, they include:
Not a very convenient procedure for confirming your identity (verification).
There are sections that can only be viewed in Chinese or English.
There are not many currency pairs available for margin trading.
Minimum withdrawal limit.
These disadvantages can make the process of trading on the exchange a little inconvenient. But after getting used to them, the trader will be able to use modern tools on the platform with a high level of reliability.