Huobi Review 2022

Huobi Review Summary

Huobi is one of the world's largest crypto exchanges and ranks among the top three in trade volume. The exchange operates under the Huobi Global holding group, which has offices around the world. The company is listed on the Hong Kong Stock Exchange and offers both foreign currency and traditional fiat currency trading. Huobi is an excellent site for trading crypto. It is easy to navigate, and it offers various features for investors. Unlike other exchanges, it does not charge commissions. It also has a user-friendly interface. You can trade Bitcoin, Ethereum, Litecoin, and more. The website makes it easy for beginners to use Huobi to trade crypto coins.

Huobi review
What Do Huobi Offer?

πŸ‘‘ Cryptocurrencies BTC, BCH, ETH, XRP, LTC, BTG, DASH, ETC, EOS, QTUM
πŸ“ˆ Securities tradable 320 cryptocurrencies
πŸ’΅ Cost per trade Maker: 0.2%
💬 Customer service Email : Yes, Phone support : No, live chat : Yes.
πŸ’° Desposit Fees None
πŸ’° Withdrawal Fees None
πŸ’° Payment Methods Cryptocurrency
πŸ”‹ Mobile app IOS App : Yes, Google Play Android App : Yes

Initially, Huobi only offered trading via Bitcoin, but gradually started adding more digital currencies that suited its decentralized standards. It has now expanded its list to include more digital currencies like Litecoin, Ethereum, XRP, as well as many others that offer promise and suit its criteria.

Huobi is a cryptocurrency platform that was founded in 2013 the current CEO is Leon LI. Huobi has headquarters in Seychelles and offers the buying and selling of over 320 cryptocurrencies to customers all over the world. Buying and selling cryptocurrency can be done online. If you are looking to trade crypto using your mobile phone, Huobi offers native mobile apps to buy and sell cryptocurrencies, directly from your phone.

You can use exchanges to trade one cryptocurrency for another like Bitcoin to Dogecoin. With Huobi you can also exchange your cryptocurrency with fiat currency, such as the UK Pound or US Dollar.

Huobi Review

Huobi Review

Risk warning : Trading cryptocurrencies is high risk. When trading CFDs losses may exceed deposits.

Huobi review
Huobi Best For

Huobi works best particularly for active retail traders seeking to trade as well as store multiple digital currencies, as it offers an element of convenience. The platform also happens to be a viable option for institutions and businesses looking to utilize digital currencies, and it allows traders to convert one digital currency to another.

Huobi review
Huobi Advantages

Following are the advantages of using Huobi:

  • Huobi has been in business longer than 2 years
  • Huobi does not charge withdrawal fees
  • Huobi offers over 20 cryptocurrencies.
  • Huobi offers a wide range of fiat currencies.
  • Huobi offers Livechat support.
  • Huobi offers email support.
  • Huobi offers an Android Google Play Store mobile app.

Easy UI

Huobi is considered one of the simplest platforms for cryptocurrency investing. You can easily register and deal in digital currencies within minutes. Huobi also offers a learning platform that rewards users with cryptocurrencies to learn about how they work.

Wide Crypto Selection

Huobi has an impressively extensive range (over a hundred and growing) of digital currencies that you can trade, not to mention the most popular ones like Bitcoin, Cardano, Solana, and many more. This is in stark contrast to other financial applications or brokers that offer the promise of cryptocurrency trading but provide only a few of the most popular coins.

High Liquidity

High liquidity guards investors from price slippages in a market that is already volatile. Huobi currently ranks among the highly liquid exchanges.

Opportunities For Earning

Huobi offers an entire course of tutorials and exams as a means of educating users about digital currency trading as well as some of the digital currencies being offered. Taking classes also earns you certain digital currencies.

Cryptocurrency Custody

Contrary to brokers focused on trading, Huobi enables traders to take custody of their cryptocurrency assets for themselves. Huobi provides its cryptocurrency wallet, but traders can bring their wallets. This way, traders can pick the solution that suits them the most.

Staking Rewards

Huobi also enables traders holding digital currencies with them to take part in staking rewards. Staking is similar to earning interest with a bank account. This, however, comes with different risks. Staking generates revenue from traders’ holdings as they are utilized for validating transactions in a digital currency. Huobi shares that type of reward with its traders. Huobi takes care of the technical side, and the extra coins are sent to the trader’s account on an established schedule.

Huobi review
Huobi Disadvantages

Following are the disadvantages of Huobi:

  • Huobi does not offer PayPal as a payment method
  • Huobi does not offer Neteller as a payment method
  • Huobi does not offer Skrill as a payment method
  • Huobi does not offer phone support.

Insufficient Variety Of Altcoins

Although Huobi has a vast variety of altcoin choices for beginner investors to interest themselves in. Those seriously wanting to trade in altcoins may not find a good selection there.

Higher Fees And Their Lack Of Transparency

Huobi has higher fees compared to other exchanges. Its fee structure can also be confusing. If you are using Huobi β€˜s basic platform, you will not be able to find a schedule before you proceed to place a trade.

Huobi review
Huobi Cryptocurrency Choice

Huobi allows you to trade around 320 digital currencies including BTC, BCH, ETH, XRP, LTC, BTG, DASH, ETC, EOS, QTUM and many more.

Huobi review
What Cryptocurrencies Are On Huobi

Huobi has 320 cryptocurrencies available to registered users. These cryptocurrencies include BTC, BCH, ETH, XRP, LTC, BTG, DASH, ETC, EOS, QTUM.

Huobi review
Huobi Stablecoins

Huobi offers its own stablecoin called Huobi. Stablecoins are meant to mitigate volatility in relation to digital currencies like Bitcoin. Stablecoins are usually pegged to stable reserve assets like the US dollar or gold. Traders can buy stablecoins on Huobi.

Huobi review
Huobi Altcoins

Huobi has a decent variety of altcoins for traders to choose from with over 320crypto assets including alt coins listed on Huobi.Huobi has a decent variety of altcoins for traders to choose from with over .

Huobi review
Trading Cryptocurrency With Huobi

Different cryptocurrencies at Huobi come with different limitations and set withdrawal amounts. You may only be able to trade some with fiat currencies like the US dollar. Some may also be restricted in some countries. Users can buy cryptocurrencies via debit card. They can also purchase crypto with funds in their Huobi wallet.

Huobi Crytocurrency To Crytocurrency Trading

Huobi has upwards of 320 cryptos available in multiple regions of the world.

Huobi Crytocurrency To Fiat Currency Trading

Huobi review
Huobi Cryptocurrency Custody And Ownership

Huobi allows users to take custody of their cryptocurrency assets themselves. Users can either use Huobi’s crypto wallet, or their own. Huobi also has over 27 fiat currencies available including GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD all accessible to registered users.

Huobi review
Huobi Staking Rewards

Huobi enables customers holding crypto to take part in staking rewards. It is similar to interests in a bank account; however, it comes with its risks. This generates revenue from a user’s holdings because they are used to authorize crypto transactions. That revenue is shared with customers.

Huobi review
Huobi Fees

Huobi Users will have to pay a Maker: 0.2% trading fee as well as deposit fees of None when buying and selling cryptocurrency with Huobi.

Huobi review
Huobi Network Fee

Outgoing Huobi transactions to outside crypto addresses normally require a network fee, also known as a mining fee. This ensures the processing of transactions on crypto networks. This fee is then forwarded to crypto miners, the systems processing the transactions.

Huobi review
Huobi Trading Commissions

Trading commissions at Huobi work similarly to traditional share dealing fees. That means users have to pay a variable commission. The standard trading commission at Huobi is 1.49 percent, so users will have to pay this percentage when they buy or sell a digital currency.

Huobi review
Withdrawal Fees

With Huobi standard cryptocurrency to fiat withdraw fees varies by cryptocurrency, instant cash-out of your Huobi account. A withdrawal fee of (None) may also be required for certain 3rd party payment methods instead of using cleared bank funds.

Huobi Currency Conversion Fees

Huobi charges a percent flat fee on all currency conversions which you will have to factor into your crypto trading.

Huobi Payment Methods

The payment methods offered at Huobi are Cryptocurrency. Huobi also offer wallet, wire transfer, crypto conversion, ACH transfer, and credit transactions.

Huobi review
Huobi Withdrawal Methods

If you have cryptocurrency or traditional fiat currency in your Huobi account and want to withdraw it, you must use the same payment method that you used to deposit it. This is because of anti-money laundering legislation.

Huobi review
Withdraw Fiat Currency From Huobi

Users can withdraw their digital currency from Huobi to fiat at any time through an ACH transfer. Such transfers usually take 1-2 working days to complete. Huobi also allows instant cash-outs that run twenty-four-seven, to cards or bank accounts in exchange for extra fees (1 percent).

Huobi review
Huobi Security

Contrary to holding cash in a traditional bank, cryptocurrency is not secured under federal laws. Huobi stores 98 percent of its users’ cryptocurrency offline in what is known as cold storage. The remaining 2 percent is meant for facilitating trading volume. The platform also has an insurance policy that protects users’ cryptocurrency holdings.

Huobi holds its customers crypto in its free wallet service. Users can even choose to hold their cryptocurrencies in separate wallets. Huobi requires its users to finish a 2-factor authentication process to log in to their accounts. Other than that, Huobi also has biometric login (fingerprints and Face ID) security as well as AES-256 encryption when it comes to private keys. Aside from all this, it helps to use strong passwords, i.e., ones that should not be used elsewhere.

Huobi holds your cash in one of three locations: custodial accounts found at US banks, US money market funds, US Treasuries and for European Huobi clients FCA regulated European banks may be used.

Huobi review
Huobi Two Factor Authentication - 2FA

Huobi does offer two-factor authentication for added security.

Huobi Specific Device Whitelisting

Specific device whitelisting is a feature that enables cryptocurrency withdrawals to only be sent to devices that are allowed. The two-factor authentication feature is required to enable or disable the feature. This allows Huobi customers to withdraw to authorized devices.

Huobi review
Huobi Wallet

Huobi review
Huobi Online Cryptocurrency Wallets

Huobi review
Huobi Hardware Cryptocurrency Wallets

Huobi review
Huobi Liquidity

Huobi has a large amount of liquidity. In that case, wide spreads should not be a big concern. Liquidity also allows for significant transactions without any problems.

Huobi review
How To Open A Huobi Account

To open an account at Huobi, the first step to get started is to provide your name, email address, password, and the state you live in. Choose β€œcreate an account” and move on to verify your email. Once you log in, you will be asked to provide your number and verify it. The next step is to fill in your personal information and answer any questions about the account creation. After that, you verify your identity (a two-factor authentication setup is recommended). The last step is to link a payment method.

Huobi review
Huobi User Interface

Huobi has a simple, user-friendly interface.

Huobi review
Huobi Features And Cryptocurrency Trading Tools

Huobi offers features like crypto investing, custodial accounts, an advanced platform for trading, and its own designated US dollar stablecoin.

Huobi review
Huobi Ease Of Use

Huobi is fairly easy to use. The sign-up process takes only a few minutes. The overall interface is brilliant and easily navigable, with a search bar that lets you explore the crypto offerings available at Huobi.

Huobi review
Huobi Mobile Apps

The availability of mobile applications for such platforms is highly crucial for investors that are always on the go. This way, they can effortlessly place market offers, and keep tabs on live market data, i.e., shares, currencies, stock indices, commodities, etc. Huobi has highly rated applications for both iOS and Android.

Huobi review
Huobi Apple App

The Huobi app can be found on Apple’s App Store on all Apple devices, offering the same features as the desktop website.

Huobi review
Huobi Android App

The Huobi app can be found on the Play Store on all Android devices, offering the same features as the desktop website.

Huobi review
Huobi Education Resources

Huobi enables entitled customers to learn about digital currencies through their educational resources offered. Users can even unlock lessons educational content and earn cryptocurrency in the process.

Huobi review
Huobi Customer Support

Huobi registered users can request support through email, phone, live chat when available. Support options are available through the Huobi website and apps. If you have an issue that needs to be resolved you also speak to a representative by filling out a form on the Huobi website. Huobi also has a help page for solving common problems with your Huobi crypto account.

Huobi review
Huobi Phone Support

Huobi phone support can be accessed by called them on .

Huobi review
Huobi Email Support

Huobi email suport can be reached at [email protected] Although Huobi usually respond within 2 days it may take up to 7-14 days for a response to some queries during peak times.

Huobi review
Huobi Live Chat

Customers can reach out to Huobi via live chat at any time if they have issues or difficulties with their Huobi account that they can't solve. Obtaining assistance via live chat is by far the most common means of customer service compared to other types of support.

Huobi review
What Countries Is Huobi Available In?

Huobi is available in over 100 countries. Huobi does not operate in the following countries : Afghanistan,Haiti,Iran,Iraq,Jordan,Kazakhstan,Kosovo,Lebanon,Libya,Macau,North Korea,Palestinian Territories,Panama,Sierra Leone,Syria,Yemen.

Huobi review
Huobi Account Limits

Huobi offers remarkably high limits and they depend on the user’s account level. A user’s account level is determined by the amount of information they have verified. Fully verified users can buy up to 50K USD worth crypto every day.

Huobi review
Huobi Awards

Huobi review
Can Huobi Be Trusted?

Huobi is a regulated company that is backed by major investors and holds licences for all the districts it operates in.

Huobi review
Is My Money Safe With Huobi?

Yes, Huobi is among the safest web wallets available. It keeps 98 percent of its assets in offline cold storage. Assets cannot be hacked while in cold storage. Huobi also ensures other ways to safeguard funds, i.e., two-factor authentication and AES-256 encryption. Your wallet is also covered up to 250K, courtesy of FDIC Insurance.

Huobi review
Is Huobi Regulated By A Financial Regulator?

Yes, Huobi is compliant with all applicable regulations in every jurisdiction it operates in.

How Do I Contact Huobi If There Is A Problem?

Huobi β€˜s customer support can be contacted via email, live chat, and via Twitter. Users can also schedule a call from a representative by filling a form on Huobiβ€˜s website. Huobi also has a β€œHelp” section for less complicated issues.

Huobi Review Verdict

Huobi makes a solid choice for traders looking to trade crypto as it has a sleek, easy-to-use interface, signing up is straightforward, and most of its processes are simple. It offers a vast collection of cryptocurrencies to trade, and users can also earn staking rewards, among other things.

Huobi Compared To Other Cryptocurrency Platforms

  1. Visit Huobi alternative Huobi

    🀴 Used By: 10,000,000
    ⚑ Crypto Available: BTC, BCH, ETH, XRP, LTC, BTG, DASH, ETC, EOS, QTUM and 320 more cryptocurrency.
    πŸ“ˆ Traded Volume: 924,266
    πŸ’΅ Deposit Methods: Cryptocurrency

    πŸ’° Trading Fees: Maker: 0.2%
    πŸ’° Withdrawal Fees: None
    πŸ’° Deposit Fees: None
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  2. Visit Huobi alternative eToro Cryptocurrency

    🀴 Used By: 23,200,000
    ⚑ Crypto Available: BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM and 27 more cryptocurrency.
    πŸ“ˆ Traded Volume: 41,693,321
    πŸ’΅ Deposit Methods: Credit cards, VISA, MasterCard, Diners Club, Maestro, Debit Cards, Bank Transfer, PayPal, Neteller, Skrill, WebMoney, China UnionPay, Giropay, Electronic wallets (eWallets), Ethereum, Bitcoin, Bitcoin Cash, Dash, EOS, Ripple XRP, Litecoin, Zcash, Payoneer,

    πŸ’° Trading Fees: Fees vary. Overnight and weekend fees apply
    πŸ’° Withdrawal Fees: US$5 (minimum withdrawal of US$50)
    πŸ’° Deposit Fees: Fees vary (conversion fees for non-USD deposits)
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  3. Visit Huobi alternative eToroX

    🀴 Used By: 13,000,000
    ⚑ Crypto Available: BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM and 27 more cryptocurrency.
    πŸ“ˆ Traded Volume: 42,043,394
    πŸ’΅ Deposit Methods: Credit cards, VISA, MasterCard, Diners Club, Maestro, Debit Cards, Bank Transfer, PayPal, Neteller, Skrill, WebMoney, China UnionPay, Giropay, Electronic wallets (eWallets), Ethereum, Bitcoin, Bitcoin Cash, Dash, EOS, Ripple XRP, Litecoin, Zcash, Payoneer,

    πŸ’° Trading Fees: Fees vary
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: Fees vary
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  4. Visit Huobi alternative Coinbase Pro

    🀴 Used By: 73,000,000
    ⚑ Crypto Available: BTC, ETH, XRP, BCH, EOS, LTC, XLM, DASH, ETC, ZEC and 80 more cryptocurrency.
    πŸ“ˆ Traded Volume: 7,622,846,254
    πŸ’΅ Deposit Methods: Bank transfer

    πŸ’° Trading Fees: Maker: 0-0.50%
    πŸ’° Withdrawal Fees: Cryptocurrency: None
    πŸ’° Deposit Fees: Cryptocurrency: None
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  5. Visit Huobi alternative KuCoin

    🀴 Used By: 8,000,000
    ⚑ Crypto Available: BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, TRX, NEO and 434 more cryptocurrency.
    πŸ“ˆ Traded Volume: 110,957,137
    πŸ’΅ Deposit Methods: Cryptocurrency

    πŸ’° Trading Fees: 0.10%
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: None
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  6. Visit Huobi alternative LocalBitcoins

    🀴 Used By: 1,000,000
    ⚑ Crypto Available: BTC and 1 more cryptocurrency.
    πŸ“ˆ Traded Volume: 612,000,000
    πŸ’΅ Deposit Methods: Bank transfer (ACH)

    πŸ’° Trading Fees: None
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: Fees vary
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  7. Visit Huobi alternative Kraken

    🀴 Used By: 6,000,000
    ⚑ Crypto Available: BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, BAT, ETC and 81 more cryptocurrency.
    πŸ“ˆ Traded Volume: 3,048,440,145
    πŸ’΅ Deposit Methods: Bank transfer

    πŸ’° Trading Fees: Maker: 0.00-0.16%
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: Fees vary
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  8. Visit Huobi alternative Coinbase

    🀴 Used By: 73,000,000
    ⚑ Crypto Available: ATOM, BAT, BTC, BCH, XRP, DAI, DASH, EOS, ETH, ETC and 73 more cryptocurrency.
    πŸ“ˆ Traded Volume: 7,622,846,254
    πŸ’΅ Deposit Methods: Bank transfer (ACH)

    πŸ’° Trading Fees: Fees vary
    πŸ’° Withdrawal Fees: Instant Card Withdrawal: Up to 2% of the transaction plus a minimum of 0.45
    πŸ’° Deposit Fees: Credit/debit card: 3.99%
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  9. Visit Huobi alternative Coinmama

    🀴 Used By: 2,300,000
    ⚑ Crypto Available: BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP, XTZ, EOS and 10 more cryptocurrency.
    πŸ“ˆ Traded Volume: 86,072,667,390
    πŸ’΅ Deposit Methods: Bank transfer (ACH)

    πŸ’° Trading Fees: 2.9-3.9% (depending on loyalty level)
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: Credit card: 5%
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

  10. Visit Huobi alternative CoinJar

    🀴 Used By: 450,000
    ⚑ Crypto Available: BTC, ETH, XRP, EOS, LTC, XLM, USDT, OMG, ZRX, MKR and 42 more cryptocurrency.
    πŸ“ˆ Traded Volume: 64,141,140
    πŸ’΅ Deposit Methods: Bank transfer

    πŸ’° Trading Fees: Maker: 0.05-0.15%
    πŸ’° Withdrawal Fees: Fees vary
    πŸ’° Deposit Fees: No Fees
    Trading cryptocurrencies can be high risk. Losses may exceed deposits when trading CFDs.

Huobi Frequently Asked Questions

Following are the most commonly asked questions (and their answers) about Huobi:

Is Huobi Safe?

Yes, Huobi is backed by high profile investors and regulated by reputed financial authorities.

How Do I Withdraw From Huobi?

Users can withdraw their crypto to fiat any time they want through an ACH transfer. Such transfers normally take 1-2 working days. Huobi also allows instant cash-outs to cards or bank accounts in exchange for extra fees.

Is Huobi Okay For Beginners?

Yes, because of how easy-to-use its web and application interfaces are, Huobi is seen as one of the best options for beginner traders.

Do I Have To Pay TAX With Huobi?

You will need to pay taxes on any cryptocurrency profit you accrue. How cryptocurrency is taxed differs on where your country of residence is and where you are in the world. In the USA federal income tax purposes, cryptocurrency is considered "property," which means the IRS classifies it as a capital asset. This means that the crypto taxes you pay are the same as the taxes you'd pay if you had a profit or loss on a capital asset sale or exchange.

Any earnings made on crypto assets held as a personal investment in the United Kingdom will be taxed. It is stated that you must pay capital gains tax only on gains that exceed the annual exempt level.

Individuals must pay taxes on cryptocurrency received as a result of mining, airdrops, confirmation incentives, and cryptocurrency acquired as a paycheck from an employer. Unless the donation exceeds the acquisition cost, crypto assets donated to charity are not subject to capital gains tax.

Check with a local accountant to check if any tax is due on your cryptocurrency trading.