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Huobi Exchange Review

By Evan Jones01/13/2023

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Huobi Exchange was founded in 2013 and continues to offer cryptocurrency trading, lending, staking, and more.

The crypto exchange has a native token called Huobi Token which gives users access to trading fee discounts among other benefits. There are over 500 cryptocurrencies to buy, sell, and trade on Huobi, with a variety of trading pairs and accepted fiat currencies. The Huobi Earn and staking programs allow users to earn a return on their holdings with little risk, while also offering a variety of trading options such as spot, futures, and derivatives. Huobi offers low trading fees and a reserve fund too.

Find out if this is the right exchange for you in our Huobi review. 

Pros

  • Wide selection of crypto assets

  • Huobi Earn program plus staking

  • Security reserve fund of 20k Bitcoins

  • Low trading fees

Cons

  • Not available to US residents

  • Unregulated

  • Not as well known as some other exchanges

Huobi Funding Methods

MethodDepositWithdrawalSpeed
CryptocurrencyYesYesNetwork speed
Credit/debit cardYesNo Instant
Bank Transfer (SEPA)Yes (EUR)YesVaries by currency
AdvCashYes (RUB, TRY)YesVaries
SkrillYes (GBP)YesVaries

TLDR

For those in a rush, here is a quick rundown of the information contained in this article.

•Huobi has been around since 2013 and offers over 500 crypto assets

•There are multiple ways to earn passive income using Huobi including staking and Earn programs

•Huobi has extremely reasonable trading fees with discounts available through trading volume or payment of fees in their Huobi Token

•Huobi has a free to use trading bot and the ability to copy professional traders for a fee as well

Setting Up a Huobi Account

Huobi often offers sign-up bonuses.

It’s easy to set up an account with Huobi Exchange by following the below steps:

  1. Navigate to Huobi.com and click “Sign Up” in the top right corner, or download the app for your mobile device and start the process there.
  2. Next, enter an email address or phone number and create a password. You can also enter a referral code at this stage.
  3. Verify your email or phone number by using the 6-digit code sent to the respective destination.
  4. That’s it! You’re registered for Huobi Exchange. Note that you will need to complete ID verification in order to withdraw more than the base limit of 5 BTC per day, but you can use the exchange without verifying your identity. In order to deposit or withdraw any fiat currencies, you’ll need to complete at least basic identity verification.

Overview of Huobi Exchange

Huobi Exchange is a global exchange with over 500 crypto assets available. They offer spot, futures, and derivatives trading while also offering an Earn program and staking for users as well.

The platform has never been hacked and offers a reserve fund for users in the event one occurs. It’s fairly easy to use and has a decent knowledge base but doesn’t have the best customer support.

Security and Safety Features

Huobi is a secure and safe platform other than the fact that it is unregulated. They require identity verification for anyone who wants to deposit or withdraw fiat, along with two-factor or SMS authentication. There hasn’t been a security incident in their 9 year history.

Huobi also has a reserve fund of 20k Bitcoin in the event of an issue that affects customer funds. 

Supported Cryptocurrencies

Huobi Exchange supports a huge number of cryptocurrencies and trading pairs, with over 500 digital assets available for trade. Here are some of the top crypto assets available on Huobi:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Chainlink (LINK)
  • Ripple (XRP)
  • Cosmos (ATOM)
  • Polkadot (DOT)
  • Huobi Token (HT)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)

For a full list of available assets and pairs, check out Huobi’s market page.

Trading Fees & Limits

Huobi has very reasonable trading fees that start at 0.2% for both maker and taker traders. This means that regardless of whether you add an order to the book or remove one, you pay the same trading fee. You can further reduce your trading fees by increasing your monthly trading volume, with the first discount coming at the $10k USD mark. In addition, paying your trading fees in the Huobi Token (HT) gives you a further 25% off your fees.

Withdrawal limits start at 5 BTC per day and increase with higher levels of identity verification. 

Ease of Use

Huobi is probably more suited for intermediate crypto users than total beginners, but it’s not overly difficult to navigate if you are one. Features are easy to find and signing up takes only a few clicks so it’s easy to take a look around the platform before depositing any funds. It might be a bit confusing for users to navigate the variety of trading options, but thankfully a newbie can use Huboi’s copy trading feature to let the pros do it for them (this is only available for futures though).

Customer Support Services

Huobi offers a Learn section along with a Support Center. It also offers live chat help, but it seems to be a bot that replies with answers you could find on the support page. There is no phone support. It is unclear whether there is support ticket help.

Best Huobi Exchange Features

Huobi offers an earn product.

Huobi Earn

Huobi Earn allows users to earn a wide range of returns on a variety of crypto assets. There are APRs as high as 200% for more obscure assets, with well-known assets in a more reasonable range of 3-15%. There are multiple types of Earn options regarding lock-up times, but a large portion of the deposits are flexible meaning you can withdraw at any time.

Staking

Huobi also offers staking of assets to their respective protocols. This is different from Earn in that your assets aren’t being loaned out to anyone, but rather you are staking the asset directly to the respective blockchain with Huobi simply providing staking pool infrastructure. The rates you get through Huobi are no higher than if you staked the assets directly to the network yourself, but it takes a lot of the work off your plate. This is convenient for those who aren’t yet comfortable holding custody of their own assets.

Copy Trading and Trading Bot

Huobi also offers copy trading for futures trading and a trading bot for spot trading. The trading bot is free to use. You can choose to set the parameters yourself or use a preprogrammed strategy. Copy trading fees depend on the expert you’re copying as they set their fee themselves. Though the fees could end up being high using copy trading, it may be worthwhile if the trader does indeed make you money that you wouldn’t have made otherwise. 

Huobi is one of the rare exchanges that offers copy trading.

Conclusion: An Extremely Solid Exchange

Though Huobi might not be as easy to use as some other exchange’s in the sector, it is a powerful platform.

The ability to do spot, futures, and derivatives trading while also having access to copy trading and trading bots all in one place is extremely useful. In addition, their Earn and Staking programs give users a good way to earn passive income, while their Huobi Token gives them trading fee discounts.

Being that it’s so easy to register an account, it’s worth checking out Huobi and all they have to offer.

Article tags

Exchanges
Huobi
Evan Jones

Author

Evan entered the crypto scene in 2017, attracted to the many disruptive possibilities that blockchain could have on current world systems. He has a keen interest in decentralized services, payment processing, and viable NFT use cases such as event ticketing. He spends his days writing with his dog Kobe under his feet, if not on his lap.

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