Huobi Review 2023
Huobi is a leading cryptocurrency exchange and trading platform. They support 596 coins across 880 markets.
In this review, we'll cover everything you need to know before signing up. All the main features, pros and cons, included.
Huobi was built by Leon Li, Du Jun in 2013, and has been in operation since.
The exchange is based in Seychelles, and serves many customers all over the world. Provided you're in one of the supported countries, you're free to trade.
- Spot Trading. Huobi allows you to trade, buy, and sell, crypto on spot markets. Meaning you're trading the real thing. You can deposit and withdraw this crypto.
- Trading Bots. Huobi has trading bots that you can use to automate your trading strategies.
- Copy Trading. Huobi supports copy trading, an automated method of copying other people's trades; great if you're a newbie, or if you're not the best trader.
- P2P Trading. Huobi support P2P trading. Where you trade directly with other people through specific payment methods or giftcards.
- Staking. Huobi allows you to stake your crypto and earn passive income.
- Margin Trading. Huobi supports trading on margin. Leveraged trading where you must put up collateral.
- Futures Trading. Huobi supports futures trading. Derivative contracts that you can trade on leverage without providing margin.
Huobi Payment Methods
Huobi supports 2 payment method(s). You can use the following the deposit/withdraw to/from the exchange.
- Credit/Debit Card
- Bank Transfer
Be aware that they may be withdrawal/deposit limits imposed, and the payment methods may also vary based on your location.
Huobi supports over 46 fiat currencies: CAD, ARS, COP, BGN, AED, CZK, CHF, CLP, CRC, EUR, AUD, GEL, DOP, HKD, ILS, GBP, BRL, DKK, KZT, KRW, HUF, INR, JPY, MDL, MYR, NZD, PEN, NAD, MXN, MAD, NGN, QAR, PHP, RON, RUB, NOK, SEK, SGD, PLN, UAH, UYU, TRY, USD, UZS, TWD, ZAR.
Huobi offers 2 layer(s) of security. Aside from the obvious, email and password.
Huobi requires KYC to use their services. KYC usually involves sharing your full details, some form of ID, and a mobile phone number.
Like other centralized exchanges, Huobi charges fees. This is how they generate revenue, and keep their operation running.
- Deposit fees. Fortunately, most centralized exchanges don't charge deposit fees when you deposit with crypto. Though, they charge for fiat deposits, which vary dependant on the payment processor and fiat option that you're using.
- Withdrawal fees. Huobi charges withdrawal fees. They vary based on what you are withdrawing and the payment method that you're using. Crypto withdrawals will also incur network transaction fees, they are not paid for by Huobi.
- Kraken's maker fees: 0.18%*
- Kraken's Taker fees: 0.18%*
Maker/taker fees are tiered. As you trade more and generate volume, they often fall.