Updated: 18 august 2022
7 minutes

What is Huobi?

Huobi (also known as HTX) is a cryptocurrency exchange for buying and selling digital currencies. There are currently more than 700 cryptocurrencies available for trading on the platform. This extensive selection makes it one of the most comprehensive offerings in the sector.

The platform includes major cryptocurrencies such as Bitcoin, as well as various altcoins like MINA, DASH, IOTA, and many others. Additionally, Huobi offers various cryptocurrency-related products to its users, including futures and options trading. The company enhances its offering with margin trading and rewards such as transaction fee discounts for holding the Huobi Token (HT).

HTX

  • Competitive fees
  • Large number of cryptocurrencies
  • Abundance of trading features

History of the Huobi Exchange

Understanding a company’s history is essential to establish trust, and in the case of Huobi, it dates back to 2013. Leon Li and Jun Du founded Huobi in China, and the platform began operating in September of that year. Later in the same year, in November, the company received investment from provident investors Dai Zhikang and Zhen Fund to accelerate platform development.

China was the world’s leading crypto hub at the time and represented the majority of global transactions. Therefore, it was no surprise that Huobi quickly expanded its user base and saw transaction volumes reaching 30 billion yuan, making it the largest crypto exchange in China. It didn’t take long for international investors to take notice and invest, with Sequoia Capital putting $10 million into the company.

With ample liquidity, Huobi expanded its operations beyond China through a series of acquisitions. The most significant of these was the acquisition of Pantronics Holdings in Hong Kong in 2016, which was later renamed Huobi Technology Holdings. Huobi Technology is listed on the Hong Kong Stock Exchange (HKEX) due to this change, although it operates semi-autonomously from the Huobi exchange.

huobi exchange landing page

At that time, Huobi Exchange represented over 60% of the global Bitcoin market, with daily transaction volumes exceeding 200 billion yuan. However, the company faced its biggest setback in 2017 when China banned ICOs and cryptocurrency operations in the country.

As a result, Huobi relocated its headquarters to Seychelles and established offices in other countries, including South Korea, Malaysia, Singapore, and Thailand. It even ventured into North America with the creation of HBUS. In an attempt to compete with other cryptocurrency exchanges, Huobi Token (HT) was launched in 2018.

What Huobi Offers

At the core of Huobi Exchange is a platform for buying and selling cryptocurrencies. Here, you can trade over 600 cryptocurrencies, thanks to the platform’s substantial cryptocurrency reserves. The high transaction volumes on the exchange ensure deep liquidity when trading cryptocurrencies, allowing you to access the best market prices and fast transactions.

Furthermore, Huobi provides additional crypto services to add value for its users. These services include staking, cryptocurrency derivatives like options and futures, lending, P2P trading, DeFi, and more. In short, Huobi serves as a one-stop shop for all things crypto, whether you’re a novice or a professional investor.

The Huobi Ecosystem

On Huobi, you can find nearly everything related to cryptocurrency without leaving the platform. This increases your access to the markets. Let’s look at some of the features on its website.

huobi logo on trends

Cryptocurrency Trading

One of the primary reasons people prefer Huobi is its offering of over 600 cryptocurrencies on its platform. As an exchange, Huobi allows you to buy and sell any of these cryptocurrencies at any time based on market prices. This includes common and popular cryptocurrencies like BTC and ETH, as well as other altcoins you may not have heard of.

Huobi also provides a cryptocurrency wallet where your assets are stored. Security is paramount at Huobi, boasting a clean record of no hacks in its nearly 9 years of operation. You can conduct trades using fiat currencies, meaning you can buy cryptocurrencies directly using your bank account or credit/debit card. It’s also possible to transfer cryptocurrencies directly to your wallet.

Cryptocurrency Derivatives

In addition to direct cryptocurrency purchases, you can also invest in cryptocurrency derivatives such as futures and options. Options give the contract holder the right to purchase the asset at a specified price on a later date, although it’s not obligatory. Conversely, a futures contract is an obligation to buy the asset on a later date at a specified price.

The advantage of derivatives is that, unlike underlying assets, you can sell them and have exposure to cryptocurrency price declines, which is not possible when you buy tokens. Huobi also offers margin trading with leverage up to 5x.

Other Crypto Products

  • DeFi (Decentralized Finance) – allows cryptocurrency holders to lend their cryptocurrencies and earn passive income in the form of interest.
  • Staking – enables cryptocurrency holders to lock their holdings within a network, acting as validators and earning rewards for maintaining network integrity.
  • NFTs (Non-Fungible Tokens) – through the Huobi wallet, you can explore Web3 and buy, sell, or create NFTs, some of which can sell for millions of euros.
  • OTC Trading – for institutional and professional investors, trading involving large amounts of cryptocurrencies can be done on Huobi Brokerage OTC.

HTX

  • Competitive fees
  • Large number of cryptocurrencies
  • Abundance of trading features

How to Trade Cryptocurrencies on Huobi?

There are many reasons to consider using Huobi for your cryptocurrency needs, but first, you’ll need to know how to get started. Fortunately, it doesn’t take much time to make your first trade, as the process can be completed online in just a few steps.

Step 1: Open a Huobi Account 

Go to the Huobi website (not the Huobi app), click on “Register” and follow these steps:

huobi registration page
  1. Enter your email address and the password you’ll use to log into your account. You can also register using your phone number if you prefer, but you will still be asked to provide an email address later.

    Note that Huobi offers rewards when you sign up and make your first transaction, giving you even more reason to get started today.
  2. Enter the verification code you receive via email or SMS on the next page to activate your account, and that’s it.

Step 2: Verify Your Account  

At this point, you can already start buying or depositing cryptocurrencies into your Huobi wallet, but we recommend starting with account verification. Not only does this ensure you receive bonuses, but it also allows you to make withdrawals later in compliance with the company’s AML/KYC regulations and increase your transaction limits.

  1. In your account dashboard, hover over the account icon to reveal a dropdown menu. Click on “Identity Verification.”

    Select “Personal Verification” if you are an individual or “Institution Verification” if you represent a business.

    The first level of verification allows you to transact up to 1,000 BTC per day.
  1. Enter your personal information, such as nationality, name, city, and date of birth. Note that some countries, such as the United States, are not on the list as Huobi does not operate in those regions.
  1. To move to the second level of verification, you will be asked to upload a photo of an identification document, such as a national ID card, passport, or driver’s license. It must clearly show your name, nationality, and the other details you entered during the first level of verification.

Step 3: Make a Deposit 

If you already have cryptocurrencies in another wallet, you can deposit them into your Huobi wallet. Hover over the “Accounts” tab at the top of the page. In the dropdown menu, select “Asset Overview.” Click “Deposit,” then choose the cryptocurrency you want to deposit into your wallet. The public wallet address will be displayed, along with a QR code for your deposit.

If you don’t have cryptocurrencies yet, you can make a quick purchase using fiat currency. In your dashboard, hover over the “Buy Cryptocurrency” option to reveal a dropdown menu and select “Buy Instantly.” Enter the amount of money you want to spend and the cryptocurrency you want to buy. Also, select the payment method to use, as Huobi accepts credit/debit card payments and other electronic wallets. Wait for the transaction to process and the cryptocurrency to be deposited.

Step 4: Trade Cryptos 

Once you have funds in your cryptocurrency wallet, you can trade the cryptocurrencies you hold for others.

cryptocurrency trends huobi

1. Click on “Spot Trading” in the top menu bar to open the trading window.

2. Select the cryptocurrency pair you want to trade to view its price chart.

3. Enter the transaction parameters based on your capital and strategy and choose whether to buy or sell. The goal is to make a profit, so you need to conduct proper analysis and research to assess market direction.

What are the Fees on Huobi?

On Huobi, the fees you pay for services vary depending on your account type, transaction volume, and whether you hold HT tokens.

Individual Traders 

Level30-Day Trading VolumeBase Fee HT Holdings Final Fees Discount
1<1000 BTC0,20 %10 HT0,18 %10 %
2<1000 BTC0,20 %100 HT0,16 %20 %
3<1000 BTC0,20 %500 HT0,12 %40 %
4<1000 BTC0,20 %1 000 HT0,09 %55 %
5<1000 BTC0,20 %2 000 HT0,08 %60 %
6<1000 BTC0,20 %5 000 HT0,07 %65 %

Professional Traders 

Level 30-Day Trading Volume HT Holdings Maker Fee Taker Fee
1700 BTC2 000 HT0.0362 %0.0462 %
21 000 BTC2 000 HT0.0294 %0.0420 %
33 500 BTC2 000 HT0.0294 %0.0378 %
47 000 BTC2 000 HT0.0252 %0.0336 %
510 000 BTC2 000 HT0.0224 %0.0308 %
615 000 BTC2 000 HT0.0210 %0.0294 %
730 000 BTC2 000 HT0.0168 %0.0252 %
860 000 BTC2 000 HT0.0126 %0.0210 %
9100 000 BTC2 000 HT0.0097 %0.0193 %

Regulation of the Huobi Platform 

Crypto markets are generally unregulated in most jurisdictions, except for a few markets such as the United States, Japan, and France, where crypto exchanges must obtain a license to operate legally.

Since Huobi does not operate in any of these regions, it has not received any licenses from regulators responsible for crypto exchanges and, therefore, it is essentially unregulated.

However, one of its subsidiaries, Huobi Technology, is regulated by the Securities and Futures Commission of Hong Kong. It also holds a trust or company service provider license in Hong Kong and a retail trust company license in the state of Nevada through a subsidiary it owns in the region.

Is Huobi Safe? 

Considering Huobi’s high ranking among approximately 500 other crypto exchanges, it is considered a safe platform to use. It already has over 10 million customers worldwide and a very high daily turnover, making it a significant enterprise.

is huobi safe

Moreover, Huobi has not experienced any hacks in nearly a decade, while many other exchanges have lost their customers’ assets. The only loss incident occurred in 2014 when the company announced that 920 BTC and 8,100 LTC had been deposited into incorrect addresses. Huobi returned the cryptocurrencies, and no similar incident has occurred since.

This demonstrates that Huobi can be trusted by investors of all levels, whether they are individual or institutional investors.

HTX

  • Competitive fees
  • Large number of cryptocurrencies
  • Abundance of trading features

Pros and Cons of Huobi

What we like

A wide variety of cryptocurrencies to trade

High ranking among cryptocurrency exchanges

Low fees compared to most other brokers

Margin trading available

Deposit by credit card and SEPA transfer

What we don't like

Not regulated in Europe

Slightly lengthy registration and verification process

Huobi FAQs

Can I Register on Huobi from the UK?

Yes, residents of the UK can trade cryptocurrencies on Huobi.

Can I Register on Huobi from the United States?

No, Huobi is not licensed to operate in the United States.

Is Huobi Safe?

Huobi is considered one of the most reliable cryptocurrency exchanges, even though it is not regulated.

What are the Transaction Fees on Huobi?

Huobi charges a flat commission of 0.20% for transactions, which can be reduced by holding HT tokens.

Can I Buy Cryptocurrencies on Huobi Using Fiat?

Yes, Huobi supports purchases via credit/debit cards and electronic wallets.

About the author

Sam Town

A writer from the north of England, I've been fascinated by all things cryptocurrency since the early days of Bitcoin. I've written countless articles in the crypto space over the years, contributing to various websites in the process. I'm always reading and forever following the trends and expanding my knowledge so that I always have more to share!