Huobi Experience 2021: The Crypto Exchange Test

Anyone who wants to trade cryptocurrencies is sooner or later looking for a user-friendly crypto exchange. The Asian cryptocurrency exchange Huobi offers a complete solution for investments. In our big Huobi test, we clarify the question of whether it is a reputable broker and share our Huobi experiences.

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Real cryptos or CFD trades

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Huobi brief overview - key facts

When was Huobi founded?

Huobi was founded in 2013 by Leon Li Although it is actually a Singaporean cryptocurrency exchange, it was initially operated from Beijing in China and is now considered the second largest digital exchange in the country.

What made Huobi famous?

 Initially, the company focused only on the Chinese market, but it has since expanded internationally. Especially after the closure of China's first Bitcoin exchange BTCC, Huobi gained importance. Thus, Huobi is considered the third largest exchange in the crypto industry.

Huobi advantages & disadvantages

Huobi offers its customers some decisive advantages: For example, the exchange is considered one of the first crypto exchanges worldwide and can therefore benefit from many years of experience.

Pros:

  • Large selection of cryptocurrencies
  • Trading from 50 USD
  • Customer service available 24/7

Cons:

  • No trading of cryptocurrencies among each other
  • Not regulated by a financial authority

What is the Huobi Exchange?

Huobi Exchange is an online marketplace where different cryptocurrencies are traded. It is an exchange with an order book. Here, all buy and sell orders are combined and compared with each other according to the matching rules. Huobi is similar to the structure of other crypto exchanges.

Individual chart analyses can be carried out with the charting tool. Huobi offers a choice between its own tool and a TradingView tool. Beginners in particular are enthusiastic about the many functions at Huobi. Overall, Huobi is easy to use, so that even stock market newcomers can quickly find their way around.

Is Huobi reputable? The history of the broker

Founded in 2013, Huobi is considered one of the first cryptocurrency exchanges in the world. Originally developed for the Chinese market, the company now trades with clients from 170 different countries. In 2017, a company headquarters was opened in South Korea as well as an office in Japan.

Since 2018, Huobi has been listed in Hong Kong. In 2020, a regulated crypto exchange was opened in Malaysia. Huobi employs over 1,300 people. Huobi offers numerous cryptocurrencies and has also issued its own token. There is no deposit protection for coins in the Huobi Wallet. However, according to the exchange, there have been no major security incidents so far.

Huobi Experiences - The Offer

Some customers on the internet report negative Huobi experiences. In the following, we will therefore subject the exchange to a major test.

Above all, the comprehensive range of cryptocurrencies is a decisive factor in our Huobi test and a clear plus for the platform. Huobi offers its customers several hundred cryptocurrencies, including numerous emerging coins from Asian countries that are often not found on Western exchanges.

The already mentioned Huobi Token is also particularly interesting. In addition, Huobi offers its own derivative products for futures and swap trading and is one of the leading providers of margin and C2C credits. Furthermore, Huobi has a separate trading desk for institutional trader users, which includes both OTC and dark pool trading.

With a range of 348 tradable cryptocurrencies, the platform does not have to hide.

Bitcoin
Ethereum
Ripple
Huobi Token
Polkadot
Dogecoin
Litecoin
Chainlink

EOS
Ethereum Classic
Bitcoin Cash
Huobi Token
TRON
Uniswap
Cardano
Tether

Shiba Inu
Aave
Ontology
TRON
Stellar
yearn.finance
Dash
Monero

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Functions & Trading Tools

Even beginners can quickly gain experience with Huobi, because the platform offers several market models in parallel. In addition to the actual Huobi Exchange, there is also a Quick Buy/Sell function and a peer-to-peer market.

The Quick Buy/Sell function is the easiest way to buy and sell cryptocurrencies with the desired amount. In the peer-to-peer market, buyers and sellers place bids. The Huobi Exchange also offers the option of margin trading.

Here, customers can trade with up to five times the leverage. Various modes are available for this purpose. The deposit and redemption of holdings is possible manually, and both can be automated.

Our recommendation: Buy cryptos with eToro

Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades

eToro

Huobi Login: Step by step

Registering with Huobi is very easy and can be done in just a few steps. In the following we will show you step by step how to register with Huobi and start trading within a few minutes.

Step 1: Registration

In order to use Huobi, you must first register with your e-mail address or telephone number and enter your nationality. Then you choose a password. With the Invitation Code you can indicate from whom you have received a recommendation for Huobi.

If you want to open an institutional account, you will find the button "Apply for Institution Account" below. Otherwise, click on "Sign up". You will receive a link to confirm your email address. After that you have to identify yourself. To do this, click on the account symbol and on "Verification" after logging in. Here you have to enter your ID number and name and upload an ID photo.

Step 2: Deposit

huobi-payment

Once you have registered and verified, you can deposit money into your account. To do this, click on "Deposit Funds". You will then be presented with three options: Either deposit cryptocurrencies or US dollars directly or buy cryptocurrencies by credit card. After the successful deposit, you can start trading.

Step 3: Trading

huobi-6

Huobi offers an almost endless selection of cryptocurrencies. To trade with them, it is advisable to only deposit as much money as you need to trade. The coins are stored in the Huobi Wallet. Make sure you never keep all your crypto assets online to protect yourself from unauthorised access.

The majority of Huobi's assets are stored in cold wallets, i.e. those that are not connected to the internet. However, it is advisable to store coins that you are not actively trading in a private wallet.

Our recommendation: Buy cryptos with eToro

Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades

eToro

Huobi: Security

Got Credit

Security is a decisive criterion when choosing the right crypto exchange. Especially with the large selection of exchanges on the internet, it is often difficult to distinguish reputable providers from fraudsters. In our Huobi test, we therefore addressed the question of whether the platform is secure and what protection it offers customers.

Regulation - According to the company

The Huobi Global homepage is registered in the Seychelles. For customers, Huobi is unfortunately not regulated by a financial supervisory authority. While it is not the case that an unregulated exchange automatically operates dubiously, it lacks valuable safeguards and controls, which is why it is recommended to prefer regulated exchanges when choosing. A suitable alternative is our test winner eToro, which is convincing in terms of security.
Deposit protection - Huobi offers its customers no deposit protection and no insurance protection for coins in the wallet. According to its own information, the company uses anti DDOS protection systems and has not had any major security incidents since its foundation.

HUOBI_WALLET_app

The Huobi AppApp

Huobi offers its users a fully-fledged app for Android and iOS, so you can trade cryptocurrencies on the go. Both the download and the use are completely free.

All important functions are available and are easy to use, which is why Huobi's mobile app offers a good alternative to the desktop version.

The payment methods

The accepted payment methods at Huobi differ depending on the location of the customer's residence. Mainly, the deposit of cryptocurrencies and via credit card is offered.

The definition of the payment methods is accompanied by the creation of a fund password. In addition, you create a nickname here. This is required when selling digital assets.

Huobi Experience: Customer service

Altcoin.io Customer Service

The crypto exchange Huobi can score with a 24/7 customer service. Both by phone and online, you can ask the staff questions around the clock and receive support in English and Mandarin. Huobi impresses with its fast response time.

Huobi also offers an extensive FAQ section. Only the language can be a downfall here, because like the rest of the website, the help section is not available.

Fees & Costs

As with most brokers, Huobi also charges transaction fees. The crypto exchange can score points with a clear pricing model.

The regular fee via the Huobi exchange is 0.2 percent. In addition, the Huobi Token makes the exchange comparatively inexpensive, as it allows trading fees to be halved. There are no other fees with Huobi. Both registration and account maintenance are free of charge.

Experiences and user opinions

User opinions on Huobi vary and some negative reviews lead some to see Huobi as a scam platform. However, it is precisely the long survival of the platform that speaks in favour of Huobi in view of the large competition.

Even if the Huobi experiences are not always positive, the crypto exchange is still considered one of the most used trading platforms. If you still want to be on the safe side, our alternative eToro offers a reliable basis in terms of deposit protection.

Our recommendation: Buy cryptos with eToro

Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades

eToro

Huobi Conclusion - Our Evaluation

Huobi is a proven solution when it comes to crypto exchanges. Thus, the provider can convince above all due to its very large selection of cryptocurrencies and also offers a reliable customer service. However, the website is mostly in English, which makes trading difficult.

The limited deposit options also have to be rated negatively. Huobi therefore does not emerge as the test winner. Instead, we were convinced by the eToro platform, which offers a user-friendly social trading system in addition to a demo account.

Huobij

Is Huobi a scam?

Due to the lack of regulation, some customers are unsure whether Huobi is trustworthy - however, this is not a clear indication of a dubious platform. In fact, most crypto exchanges are unregulated.

Our Huobi test showed that the cryptocurrency exchange is not a scam. Instead, the platform offers both beginners and advanced traders the opportunity to trade various cryptocurrencies in a reputable manner.

Our recommendation: Buy cryptos with eToro

Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades

eToro

FAQ

What is Huobi?

Huobi is a Chinese web platform where you can trade cryptocurrencies. Founded in 2013, it is one of the oldest crypto exchanges and is very well positioned internationally.

Is it worth opening an account with Huobi?

If you want to benefit from a large selection of cryptocurrencies, it can be worthwhile to register with Huobi. This can be done in about ten minutes. Alternatively, however, we recommend our test winner eToro.

How much money should I invest?

Huobi requires a minimum deposit of 50 USD. Apart from that, you decide for yourself how much money you are willing to invest. The basic rule for trading is: Only invest money that you can spare in the medium term.

How long does a payout take at Huobi?

A payout at Huobi usually takes place within one to three business days. However, you can only withdraw cryptocurrencies.

What are the requirements for me to trade successfully at Huobi?

To start trading at Huobi, you first need to provide your email address or phone number. Afterwards, you have to carry out an identity check by photographing your identity card. To register with a crypto exchange, you must be at least 18 years old.

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.