Huobi Exchange Review: Is it Really Safe? (2021)

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Cryptocurrency exchange is a lucrative business, especially when you look at exchanges like Binance that has made millions in just one year.

However, running a crypto exchange is no child’s play as it is much more difficult than running a stock market exchange.

One needs to have sufficient funds, world-class architecture, solid security protocols, and a brand image to succeed really.

Binance has already proved that with successful token economics and high-end architecture, all this is possible.

That’s why another exchange that already has a brand and architecture in place is trying to straighten up its token economics and marketing efforts to serve international crypto investors.

And it goes by the name Huobi.Pro exchange.

Huobi Pro Introduction

Huobi Pro Introduction

Huobi Pro – a leading global digital asset exchange, is a brand of Huobi Global. Huobi Global is a world-leading cryptocurrency financial services group. And as of now, Huobi Pro trades more than 100 digital assets and is based out of Singapore.

Huobi is operating in this space since 2013, so there is absolutely no doubt about their capabilities. That’s why now they are expanding their operations and have planted offices in Singapore, the United States, Japan, Korea, and Hong Kong to widen their reach.

Huobi Global also has a HADAX (Huobi Autonomous Digital Asset Exchange) exchange brand which is the world’s first autonomous token listing exchange.

Here, HT token holders can vote for the tokens that they want to see on HADAX exchange and sometimes when the winning token is compliant with Huobi Pro’s listing criteria, it is listed on Pro as well. (More on HADAX & HT token later).

Getting Started With Huobi

Getting started with Huobi is easy. You are required to register using your email ID and set a password. But for higher withdrawal limits, you need to submit your documents for KYC.

Post which you can log into Huobi Pro exchange and see this landing page which looks pretty clean. On looking closer, you will find that Huobi shows all the charting indicators and charts of different time frames for experienced traders to place their bets on Huobi.

Huobi Pro exchange

They also have mobile apps for both Android & iOS for users who want to trade cryptos on the go!

Huobi Pro exchange app

Cryptocurrencies Huobi Pro Supports Now

Huobi Pro supports more than 248 cryptocurrency pairs on its platform. Here is the full list. Some of the popular currencies it supports are listed below:

Countries Huobi Pro Supports

Countries Huobi Pro Supports

Huobi Pro provides trading support in more than 130 countries and has opened trading offices and operation centers in Singapore, the United States, Japan, Korea, Hong Kong, and many other countries. It also supports 13 languages to serve customers in above-mentioned countries.

HT Token & Its Benefits

HT token (Huobi token) is an ERC20 token on Ethereum blockchain. It is a native token for Huobi Pro and HADAX exchange through which one can get exclusive benefits. Some of the exciting benefits that HT token holders enjoy are:

  • HT token payers can get trading fee discounts (up to 50%) and get VIP memberships.
  • HT token holders can vote for token listings on HADAX exchange.
  • HT token provides liquidity. And they are also repurchased by Huobi every quarter to put in Huobi Investor Protection Fund.

Fee Schedule Of Huobi Pro

The fees on Huobi Pro exchange is nominal and follows maker/taker schedule for the trading fee as follows:

  • Maker fees: 0.2%
  • Taker fees: 0.2%

But this fee can be significantly reduced (up to 50%) by buying VIP memberships for the exchange. The subscription for the same is available on a monthly basis, and one can become a VIP by purchasing different plans as shown below:

Fee Schedule Of Huobi Pro

Buy HT Tokens

Currently, the HT token is available on Huobi exchange for buying/selling in the following pairs:

  • HT/BTC
  • HT/ETH
  • ETC/HT
  • BCH/HT
  • XRP/HT
  • LTC/HT

Customer Support

Huobi provides support 24 x 7 and can be reached out through Zendesk ticketing system for resolution of any issues.

Here is the link for the same.

Closing Thoughts

On the first look, it might seem that Houbi exchange is doing just like Binance but in my opinion, there are significant differences between the two.

Some of the USPs of the Huobi exchange that makes it different and better from Binance are:

  • Huobi has HT tokens which can be used for voting and hence reduces the due diligence time for Huobi exchange. In this also they have a multi-layered scrutiny of projects which gives more credibility to their process.
  • Huobi has pledged to buy HT tokens every quarter from their 20% profits to put in Huobi Investor Protection Fund, which is a must-have USP nowadays when centralized exchanges are prone to hacks. This is like the insurance for the HT token and Huobi users in an unforeseeable event.
  • Subscription-based VIP membership and fee discounts are designed to lure institutional investors. And a fee discount feature that doesn’t end after a few years, as you have in Binance, is undoubtedly an excellent feature.
  • Plus, with a single login password on Huobi Pro, one gets access to Margin account, HADAX, and OTC exchange which is a good thing for the long-term adoption of their platform.
  • Moreover, Huobi is regularly doing different kinds of airdrops, token listings, friendly competitions to incentivize its users which will ultimately drive user interest for Huobi. Some of the examples of the same are: Cheer for the World Cup Win 4 Million SOCs AirdropHuobi EON and EOP AirdropWin up to 8,000 USDT worth of HT etc.

Some more unique features of the Huobi exchange:

Features of the Huobi exchange

Because of all this, I believe Huobi with HT tokens might pull out another bull run like Binance. Also, note that I have mentioned HADAX several times here but kept it short deliberately as HADAX is a completely different exchange under the umbrella of Huobi Global.

Now it’s time to hear from you: What do think about Houbi and the HT token? Are you invested in them? Do you think it will be better than Binance? Do let us know your thoughts in the comments below!

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