What is Huobi Exchange? Overview crypto exchange Huobi

Huobi is the largest cryptocurrency exchange in the world today. This article will introduce an overview, review, instructions on how to register to create a Huobi account, verify KYC, and the most detailed instructions on using the Huobi exchange.

Overview crypto exchange Huobi

What is Huobi Exchange?

Huobi is an electronic exchange founded in September 2013 by Leon Li in China. Huobi's headquarters is located in Beijing, which is controlled by the government. Initially, Huobi only focused on the domestic cryptocurrency market.

In recent years, the organization has only turned to the global market after the country tightened regulations on exchanges. Up to now, Huobi has officially entered the top 3 leading electronic exchanges in Southeast Asia and the world.

The official virtual currency exchange of Huobi is Huobi Global or Huobi Pro (product in the Huobi Group ecosystem). This organization uses the domain name huobi.com. As noted by Coinmarketcap, Huobi is the second-largest exchange in the world after Binance.

Huobi Ecosystem 

To become the “big brother” in the industry, Huobi has developed a comprehensive Blockchain system:

• Huobi OTC: Launched to users in November 2017. This service is suitable for “anonymous” traders who want to transfer large amounts of cryptocurrencies.
• HADAX: This is one of the “subsets” of Huobi Pro. This service focuses on serving professional traders.
• Huobi LabsAims: to support Blockchain projects at an early stage. Huobi Labs launched users in May 2018.
• Huobi Capital: This is an investment fund to develop the Blockchain technology industry.
• Huobi Mining Pool: Has the function of operating the mining pool.

In addition, Huobi also develops several optimal services such as Huobi China, Huobi Academy, R & D department (Blockchain research and application).

Features of Huobi exchange

Huobi exchange is “outstanding” with a series of features:

• Owning more than 400 different coins such as Altcoins and Tokens.
• The average transaction cost (0.2%) is suitable for many traders in the world.
• Smooth use on all platforms and electronic devices such as Windows, Mac, iOS, Android.
• Friendly interface, intuitive chart display powered by professional Tradingview.
• Margin Trading support.
• Using modern security technology to ensure the safety of customer information. Security through 2 layers: 2FA and SMS. Confirm information via Email.
• The website is supported in various Chinese, Vietnamese, Japanese, English, Korean, etc.
• Online Customer Care Center on social networking sites, websites as well as Emails. For Vietnamese investors, Huobi also established its own community.

Evaluation of Huobi exchange

Advantages

• Diversified and highly liquid
• Coins Huobi supports Vietnamese; the exchange's Vietnamese interface is intuitive and easy to use.
• If you use HT Tokens, you will get reduced transaction fees, investment participation. IEO on Prime and FastTrack, get HPT (almost like Staking)
• Buy/sell VND coins easily and quickly.
• Support insurance in case customer accounts is hacked.

Cons:

• Huobi's transaction fees are higher than competitors.
• Having too many different domains and products can easily confuse users.

About Huobi Token (HT)

Token HT is the official coin of Huobi, released in 2018. What coin does Huobi create to reduce transaction fees and support users to participate in the organization's exclusive events? Huobi Token (HT) is built according to the ERC20 standard on the Ethereum blockchain.

Benefits of token HT:

• Reduce transaction costs by 50% and grant users VIP membership.
• HT buyers are allowed to vote for the list of Tokens on HADAX.
• Capable of providing liquidity. They are acquired by Huobi every quarter to be included in the Huobi investor protection fund.

Trading fees on Huobi exchange Huobi

Exchange does not charge a deposit fee. The withdrawal fee will depend on the coin type.

Huobi charges 0.2% per transaction. Users can reduce transaction fees by using USDT to buy Point Cards. The lowest Point Card can discount an additional 10% transaction fee.

Instructions for registering, verifying KYC Huobi, and using transactions on the exchange

How to register and verify a Huobi account

Step 1: Visit Huobi's website by following the link: https://www.huobi.com/en- vi/register/

At the Huobi homepage, you can change the language for easy operation: Select English => Vietnamese.

Step 2: Click Sign Up to register for a Huobi account. There are two ways to register an account:

Option 1: Register with a phone number

You need to provide complete information including:

• Nationality (Nationality information cannot be edited after registration): Select Vietnam.
• Phone number.
• Password and confirm the password again.
• Enter the new code.
• Check the box “I have read and agree to the user agreement.”
• Select Register and slide the horizontal bar to confirm the account.
• Enter the confirmation code sent by phone, and you're done.

Method 2: Register by Email

Similar to registering by phone, you also need to fill in the following information:

• Nationality: Select Vietnam.
• Email.
• Password and confirm the password again.
• Enter the new code.
• Check the box “I have read and agree to the User Agreement.”
• Select Register and verify the account by sliding the horizontal bar.
• Enter the confirmation code sent to your email address, and you're done.

Note: If the mail is not in your inbox, you can check it in the spam folder.

Your password must be at least 12 characters, which includes: numbers, lowercase letters, uppercase letters, special symbols, etc. In addition, because nationality cannot be changed after registration, it's best to write precisely according to CMT or Passport.

How to verify KYC (personal identity) on Huobi Exchange

Compared to other exchanges, the identity verification process on Huobi is simpler.

Step 1: Select the arrow in the right corner => Verify identity.

Step 2: Fill in all information, including:

• Nationality: Select Vietnam.
• ID number, driver's license, or Passport.
• First and last name (unsigned).
• Upload a photo of the front of your ID card, driver's license, or Passport. (If you can't use the proof, you can use the driver's license, the approval rate is high).

Step 3: If your computer does not have a camera, you can use your phone to scan the Qr code and then take a picture of your ID card, driver's license, or Passport. You also have to take a photo of yourself in a negative (the system automatically converts each step).

Step 4: After 1-2 hours, you will receive a KYC verification message from the Huobi system. (If using an ID card does not work, you can use your driver's license to try again).

How to trade on Huobi Exchange

Step 1: Select Spot Trading => Exchange .

Display screen:

• The left side of the screen: Indicates trading pairs including markets: USDT, HUSD, BTC, ETH, HT, ALTS.
• Center of the net: Chart and where to place trade orders.
• The right side of the screen: Indicates the selling price and the buying price.

Step 2: Search for the transaction to buy/sell, enter the price and number of coins in the order box.

Step 3: Choose Buy BTC or Sell ​​BTC to open an order.

In addition, the Huobi platform also supports several orders such as Limit, Market, Stop-Limit, Buy, Sell, Trigger.

How to deposit coins on Huobi exchange

Step 1: Select Assets => Deposit and put money in the wallet.

Step 2: Send coins to the desired address.

How to withdraw coins from Huobi

The withdrawal method is similar to the deposit steps. You just need to choose “Withdrawal” instead of “Deposit.” Finally, enter the wallet address the amount of coins you want to withdraw and select “Withdraw.”

Some frequently asked questions about What is Huobi exchange?

Is Huobi exchange a scam?

Huobi is recognized as a reputable and safe exchange. Besides, this organization has never been involved in any scam rumors and has not met any criticism from investors. Moreover, the exchange has an insurance fund, so investors do not worry about losing money when hacked by hackers.

Is it possible to use Huobi on the phone?

To keep up with modern trends, Huobi has launched an application on mobile devices besides PC. Therefore, you are free to choose the right way to invest in Huobi that is most convenient for investors.

Is Huobi banned in Vietnam?

Vietnam is one of the countries that does not prohibit cryptocurrency investment. So, feel free to trade on Huobi.

Is Huobi's security good?

Huobi's security is among the top compared to its competitors. The organization confirms this through the following features:

• Goldman Sachs implements risk control measures.
• More than 90% of customer assets are stored in cold wallets.
• Application of centralized transaction structure helps to limit DDOS attacks.
• There is user protection insurance.
• There is a total security reserve of 20,000 BTC. This amount is used to compensate for security accidents and losses due to security incidents.