Buzz
This method helps you:
- Understand Huobi Exchange
- Learn about its features
In the previous article, Mytour introduced you to Binomo, a binary options trading platform. In this article, Mytour will continue to introduce you to Huobi Exchange.
1. Overview of Huobi Exchange
Huobi Global is a cryptocurrency exchange established in 2013, headquartered in Singapore. Huobi in Mandarin Chinese means 'currency', literally translating to Huobi Exchange as a currency exchange.
Huobi accounts for nearly 90% of total Bitcoin trading and is one of the top three cryptocurrency exchanges in China.
After China issued bans on cryptocurrency and Bitcoin trading, Huobi continued to focus on new business models allowing cryptocurrency trading and launched services in the US.
Currently, Huobi is one of the top 10 largest exchanges in the world by trading volume, with over 510 active markets and 20 unconfirmed markets, listing over 90 cryptocurrencies.
Huobi cryptocurrency exchange primarily focuses on Asian markets, with offices in Japan, South Korea, and Hong Kong, and its headquarters in Singapore. The Huobi office in China serves as a consulting and blockchain research platform.
2. Features of Huobi Exchange
- Wallet:
- Trading Fees: The trading fee on Huobi Exchange is 0.2% per trade, applicable to both makers and takers for trading volumes below 5 million. If the trading volume reaches 300 million or more, the trading fee decreases to 0.015% for makers and 0.025% for takers.
Features of Huobi Exchange
- Deposits and Withdrawals: Huobi Global only accepts cryptocurrency deposits and withdrawals. Additionally, the exchange supports fiat trading with BTC, ETH, and XRP through credit cards, debit cards, etc.
Deposits and withdrawals on the platform are completely free, with a fast execution process depending on the number of transactions traders make. A small note is that the exchange limits withdrawals, depending on the different accounts, there will be different limits.
Forex4you exchange is very familiar to traders. However, many websites claim it is a scam exchange, making new players hesitate to join. So, read the review of Forex4you exchange to understand it better.
- Read more: Forex4you exchange review
3. Creating a Huobi Account
To create a Huobi account, first, visit the website https://www.huobi.br.com, find and click Create account, fill in all the information, especially your phone number, submit the information, and confirm your email address and phone number.
Mytour advises you to choose and use a strong password, also don't forget to activate two-factor authentication (2FA).
After creating your account, you can deposit money into your account by accessing Balances, selecting the amount to deposit, and copying the address.
How to create a Huobi account
To withdraw money, you also access the Balances section, select the currency, enter the withdrawal address and amount, then click Withdraw. Enter the confirmation code in the window displayed on the screen and click Confirm to confirm the withdrawal.
To make a trade, click Exchange. You will be redirected to the trading page, where you can select the currency you want to buy or sell.
4. Is Huobi Exchange a scam?
Since its establishment in 2013, Huobi Exchange has not experienced any security breaches or attacks. In terms of security, the exchange adheres to the best practices in the industry, with 98% of investors' funds stored in cold storage. Additionally, the exchange has a fund to protect investors, which is used to reimburse affected investors in case of an attack.
The above article provides an overview of Huobi Exchange. Readers can also refer to other articles on Mytour to learn more about GKFx Prime exchange.
In addition to Huobi, HFXF Exchange, Exness Exchange, IC Markets Exchange, and others are reputable exchanges where you can trade safely.
