![]() ![]() Huobi Global launched in China in May 2013. ![]() Here, it operates under the DLT (Distributed Ledger Technology) license issued by Gibraltar FSC. But their subsidiary – the Huobi OTC Desk is fully regulated and licensed by the Gibraltar Financial Services Commission. Regulations, Offices & Supported Countries: Regulation For instance, while Bitmex and Binance offer leverages of up to 100X and 20X respectively, the maximum leverage on Huobi is 3X. Low margins for leveraged trades: While Huobi recently introduced leveraged margin trading for their platform users, the margin levels offered on the platform are dwarfed by the leverage levels provided by its competitors. But it also imposes restrictions on transaction and withdrawal limits for unverified users making it virtually impossible for a regular user to use the platform without passing the KYC and AML processes. Identity verification: Huobi claims that you do not need to verify your identity to exchange cryptocurrencies on their platform. This forced the Peoples Bank of China to intervene and issue warnings against Huobi and OKCoin exchanges. ![]() Investing user funds without consent: In August 2017, Xinhua News Agency, a Chinese newswire revealed that Huobi and OKCoin, the two largest Crypto exchanges in China – had invested as much as 1 Billion Yuan ($150 Million) of ‘idle’ client funds in high-risk-high-yield “Wealth Management Products” without explicit consent from the clients. The Huobi platform founder and CEO – Leon Li – has, however, went ahead and rubbished these claims. ![]() The exchange nevertheless introduced a regulated over-the-counter trading platform for the fiat to crypto exchanges – Huobi OTC Desk – and has signaled its interest in entering the US market, which requires that all crypto service providers be regulated.įalsifying trading volumes: On March 10, 2018, Sylvain Ribes published a study “Chasing Fake Volumes: A Crypto Plaque,” in which he argues that as much as 81.8% of the trading volumes reported by Huobi exchange is made up. Huobi isn’t regulated: Unlike equally popular exchanges like Coinbase and Kraken that are regulated and licensed by leading finance regulatory agencies in the world, Huobi global exchange is not regulated. Today, crypto investors on the platform are free to trade such derivatives as Futures, margined swaps, and options. Multiple trading platforms: Huobi crypto exchange users have the option of choosing between the desktop trading platform available for both Windows and macOS or the mobile trading platform available on both Android and iOS devicesĭerivative trading: Like most other world-leading crypto exchanges, Huobi recently introduced derivatives trading features. Wide range of altcoins: Huobi exposes crypto traders to more than 300 cryptocurrencies and tokens and an equally large number of trading pairs and crosses. The team is available 24/7, and the average response time on either platform is less than one hour. Responsive customer support: Both the Huobi desktop trading platform and the mobile app trader have the chat feature that you can use to contact the Huobi customer support team. This insurance policy is similar to Binance’s SAFU (Secure Asset Fund for Users) and will be used to indemnify Huobi wallet users in case of losses occasioned by security breaches. To fund the insurance pool, Huobi is regularly funneling portions of its profits to the fund. User protection fund: Huobi global maintains a user protection fund – some form of internal insurance scheme – that is aimed at protecting user funds from thefts and hacks. We will start by tabulating some of the pros and cons of using the platform in the table below, after which we will explain each in detail. We’ll look at how to open an account at the exchange, Huobi Global supported cryptocurrencies, Huobi Global fees, customer support, online reviews, and more. This comprehensive Huobi Global guide covers everything about the Exchange. The crypto exchange is highly innovative, integrates some of the most popular crypto trading and market analysis tools, and embraces industry-standard security features around the platform. Like equally popular crypto exchanges, it has also developed a crypto coin native to the exchange – Huobi Token (HT). The exchange provides users with a wide range of digital assets and avails such other crypto-related services as a digital wallet, crypto mining pool, an earning and investment platform, and cloud storage services for other exchanges. It also ranks highly among the most diversified crypto trading platforms. Huobi Global exchange is one of the oldest and most reputable crypto trading platforms in the world. ![]()
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