Huobi cryptocurrency exchange – October 2018 review

Huobi Cryptocurrency Exchange

• Buy/sell 90+ cryptocurrencies
• 0.2% trading fee
• 24/7 customer service
• Fee discounts for VIP members

You can buy and sell more than 190 cryptocurrency pairs across multiple platforms and devices on Huobi

In 2013, the Huobi Group designed a digital currency exchange that now allows its users to trade more than 190 cryptocurrency pairs. Features of Huobi include the ability to deposit and exchange dozens of different currencies, 0.2% trading fees and 24/7 customer service.

There are a number of other cryptocurrency exchanges vying for your business, so we’ve gathered some information about Huobi to help you work out whether it’s the right digital currency exchange for you.

What is Huobi?

Huobi is operated by Huobi Global Limited, a company incorporated in the Republic of Seychelles. This cryptocurrency financial services group was established in September 2013 in Beijing. Having originally concentrated on the Chinese market, Huobi began focusing on crypto traders around the globe following the Chinese government’s crackdown on cryptocurrency exchanges in 2017.

Huobi Global now offers its platform to users in more than 130 countries and has offices in Singapore, the United States, Japan, Korea and Hong Kong.

Available countries

Huobi offers its services to users across more than 130 countries around the world, including Australia. If you’re reading this from a country other than Australia, contact the Huobi team to find out whether you can access the platform from your country of residence.

Which payment methods are accepted?

You can deposit funds into your Huobi trading account using a cryptocurrency transfer. However, make sure any currency you want to trade is supported by the platform before attempting to make a deposit.

How much will it cost me to use Huobi?

When buying and selling crypto coins on Huobi, make sure you’re aware of the following fees:

• Maker fees: 0.2%
• Taker fees: 0.2%

However, VIP users can access discounted platform fees based on their VIP membership level, which can be purchased with Huobi Tokens (HT). The table below outlines the fee discounts available:

There are no fees for depositing funds into your account, but withdrawal fees do apply. The fees for some popular currencies are shown in the table below:

Are there any transfer limits?

The maximum amount you can withdraw from your account varies depending on the currency chosen and whether you have verified your identity. The withdrawal limits for a selection of popular digital currencies are shown in the table below:

There are also limits on the order sizes you can place with Huobi. You can find a full list of these limits here or check out the limits for a few key currency pairs in the table below:

Is it safe to use Huobi?

If you're considering whether it is safe to use Huobi, you can start with factoring in the security features that it offers. When you sign up for an account with Huobi, you’ll need to enter and confirm your email address. You can also link and verify your phone number plus enable two-factor authentication using Google Authenticator. You’ll also need to provide a photo of your passport before your account can be fully verified.

Huobi claims to offer a decentralised structure and anti-DDOS protection system, with over 98% of its digital assets stored in multi-signature cold wallets. It’s also an established platform that’s been operating since 2013, which is a long time in the crypto world.

Customer support

If you have a problem with a transaction or your account, Huobi claims to offer customer support 24 hours a day, 7 days a week, 365 days a year. You can access the support team via live chat or opt to leave a message instead. There’s also an online help centre with answers to a selection of FAQs.

Pros and cons