About Huobi Global
Huobi Global is an exchange platform founded in China in 2013 by former Oracle engineer Leon Li. After the Chinese authorities banned cryptocurrency fundraising in 2017, the exchange moved its operations to Singapore, and has branches in South Korea and Japan. Huobi's expansion continues into Europe and the Middle East.
Huobi Global is the third largest exchange platform in the world with a daily trading volume of about $ 350 billion, and consistently ranks among the top ten global exchanges in terms of trading volume.
The Huobi Token (HB) is a utility token, such as Binance Coin (BNB), Binance's own token. The HB token is primarily aimed at marketing. Its main function is to retain users and attract new ones.
In 2018, Huobi made an initial distribution of 300 million HB tokens (out of a fixed total of 500 million), while insisting that this distribution has nothing to do with the ICO.
The tokens were distributed in priority order among users who had a VIP package. The remaining tokens will be distributed as follows:
- 100 million intended for Huobi employees
- 100 million are used to ensure the operation of the platform.
Many centralized exchanges serve as a single centralized market maker. Huobi, by contrast, also allows trading on the over-the-counter (ETF) market. This means that you can buy and sell cryptocurrency on a peer-to-peer network on Huobi. Although this option exists on the exchange, traders have not yet accepted it. Various experts have noted the lack of DUT proposals. However, this is a groundbreaking technical feature.
For margin traders, Houbi has a separate platform specifically designed for this purpose. The amount of leverage varies from cryptocurrency to cryptocurrency. For example, BTC is about 3x. Compared to other margin trading platforms, this is a low indicator. However, this is an attractive option for potential users.
In December 2018, the Houbi derivative market issued contracts for BTC and ETH (weekly, bi-weekly, and quarterly, respectively), as well as flexible leverage, including 1x, 5x, 10x, and 20x. In the future, more digital currencies will be issued to meet various investment needs.
Huobi charges a 0.2% commission, which applies to both market makers and buyers for amounts between $ 0 and $ 5,000,000 over a 30-day period. For comparison, other leading exchanges, such as Binance, have a commission of 0.1 percent. Meanwhile, the GDAX commission is 0.3 percent.
As with most exchanges, Huobi has no deposit fee. However, Huobi has a withdrawal fee and minimum amounts that vary. Overall, this means that Huobi's fees are generally higher than most exchanges for lower withdrawal amounts. There are a few exceptions. For example, in TUSD, the minimum withdrawal amount is $ 20, and the withdrawal fee is only $ 2.
Compared to other exchanges, Huobi continues to differ in terms of security. Many leading cryptocurrency exchanges suffer from large-scale hacks, which subsequently lead to different results in terms of trading volume.
- 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.