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Hoo
RankHoo
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Hoo
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Hoo is a cryptocurrency exchange platform launched in September 2019 in Hong Kong with the goal of providing secure and reliable management and trading of crypto assets for users. It is reported that the main team of Hoo includes the first BTC investors, blockchain developers and technology researchers. 

The Hoo cryptocurrency exchange platform includes wallet, storage, financing, and mining. It has a very simple interface and trading equipment, which makes trading easier for users.

Trading Characteristics

Hoo supports a variety of digital currencies that allow users to buy, sell, store, exchange, farm, and place bets on the same platform with 331 trading pairs.

In September 2019, Hoo launched an initiative called Hoo Power, which digitizes the rights to the assets of Hoo users. These asset rights include your right to compensation. By digitizing these asset rights, Hoo turns asset rights into tradable tokens that can be distributed and transferred to secondary markets. Digitized Hu rights tokens have a ticker starting with the letter T.

Hoo offers four main products, including Hoo Exchange, Hoo Financing, HD Wallet, and Hoo Custody:

  • Hoo Exchange

Hoo Exchange is a cryptocurrency exchange with over 70 coins and 80+ trading markets. Users can exchange their tokens for free using Quick Swap via Hoo.com or Hoo mobile apps for iOS and Android. The exchange supports spot and margin trading and offers fast deposits and withdrawals. Hoo also partners with four other exchanges for maximum liquidity and depth.

  • Hoo financing

Hoo offers funding with several major cryptocurrencies, including BTC, ETH, EOS, and USDT. Hoo collateral lending allows you to put blockchain assets as collateral, and then pay interest from 0.005%. Coins used for staking include BTC, ETH, EOS, HC, USDT, BCH, and LTC. If you have a cryptocurrency and you want to access the money without selling that cryptocurrency, you can use Hoo Financing for that.

  • HD wallet

HD Wallet is a Hoo network wallet where users manage their private key and can manage a multi-network wallet using a single set of mnemonics. The Hoo's HD wallet supports Bitcoin, Ethereum, EOS, Ho, and BCH. It also integrates with dApps and LApps.

  • Hoo Custody

Hoo Custody includes commercial wallet services and large asset trust management services. This is a storage solution designed for large companies that want to store cryptocurrency securely.

  • Hoo Trading

The main service of Hoo is the exchange of cryptocurrency. The company offers spot trading and instant trading via Hoo.com or Hoo mobile apps. The list includes more than 70 cryptocurrencies, including all major cryptocurrencies.

In addition to regular trading, Hoo offers futures trading, OTC trading, and options trading, as well as other trading products. Here is a brief description of all the trading services:

  • Spot trading

Hoo offers spot trading, allowing you to easily exchange one cryptocurrency for another in a normal trading interface, just like on any other exchange.

  • Quick Swap

Hoo offers fast exchange trading for free, which allows you to instantly exchange one cryptocurrency for another without commission.

  • Futures Trading

Hoo offers a futures trading platform where users can trade perpetual USDT futures and reverse perpetual futures with coins such as BTC, ETH, LTC, EOS, XRP, BCH, and ETC.

  • Over-the-counter (OTC) trading

Hoo offers over-the-counter (OTC) trading, which allows larger traders or firms to make large trades without using the main exchange order book.

  • Rights to Hoo Digital Assets

Hoo has launched a unique product called Hoo Digital Asset Rights or Digitalized Right Tokens. You can run a project on Hoo, and then use the rights to digital assets.

Hoo Fees 

The exchange charges a "fixed commission fee" from both the taker and the maker – 0.20%.

No fee is charged for the withdrawal of funds. 

Safety

Hoo claims to use bank-level security (such as SSL), as well as GSLB and decentralized servers to increase the reliability of the platform. Hoo claims to use bank-level security (such as SSL), as well as GSLB and decentralized servers to increase the reliability of the platform.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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