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Cryptocurrency Exchange is a medium where people can buy, sell and trade various cryptocurrencies. Currently, there are many Cryptocurrency Exchange out there. However, the cryptocurrency traders find it difficult to decide which Cryptocurrency Exchange they should use. Some of the Exchange are designed for beginners (newbie traders) while others are designed for advanced traders. It is therefore important to know which Exchange is suitable for you.
I personally recommended Huobi as the best Exchange for buying, selling and trading of various cryptocurrencies.
Do you want to know why Huobi is the best Exchange for you?
The article below shows the complete overview of Huobi Exchange
WHAT IS HUOBI?
Huobi is a Singapore-based Cryptocurrency Exchange. The platform was founded by Leon Li in China in 2013, and her headquartered is at Singapore and they have offices in Hong Kong, Korea, Japan etc. Huobi. Huobi has been providing financial services to her users, and their services has gone across to more than 130 countries in the world.
WHY MUST YOU CHOSE HUOBI EXCHANGE?
There are so many reasons why you must adopt Huobi as the platform you will be using to trade cryptocurrencies. If you want to encounter the best trading experience, Huobi is the right place to be. I know majority traders do consider some criteria before choosing an exchange, but am assuring that Huobi possess all the criteria for users to enjoy swift trading.
BENEFITS OF HUOBI
- Many Cryptocurrencies are listed on Huobi Exchange
Close to 240 individual cryptocurrencies are listed in Huobi Exchange. So majority coins and tokens people are intending to trade were all available at Huobi Exchange.
- Low Fees
Huobi Exchange attract lower fees and Huobi fees is among the lowest in the industry. Customers pay 0.2% as trading fees. Also, there are discounts for those that uses Huobi tokens as transaction fees. Deposits on Huobi are always free, but withdrawals cost little charges which vary for each of the individuals cryptocurrencies.
- Security
Huobi takes security as a top priority. Huobi always instruct her users to set up two-factor authentication (2FA) when registering an account in order to tighten the security of their account. Huobi Exchange website also uses the CryptoCurrency Security Standard (CCSS) to protect accounts and the anti-DDOS protection system, which is an industry standard for large exchanges.
- Large-volume trading
Huobi Exchange has become one of the most popular exchanges for buying, trading and selling cryptocurrencies, numerous transactions are constantly taking place. This is an important factor as it gives you a better chance to immediately sell your cryptocurrency when and when you need it.
- Huobi Customer Support
Huobi has the best customer service and it is difficult to argue with this review. Huobi has 24/7 customer service model which is based on traditional markets and was the first of its kind to be implemented. The team are always available to answer various questions from the users.
HOW TO USE HUOBI EXCHANGE?
- OPENING AN ACCOUNT
It is very easy and fast to create an exchange account with Huobi
***First, click on the "Sign up" link on the right side of the headline header (at the top of the page).
Select your country
Input a valid phone number or email
Confirm the activation code sent to either your email or phone (depending on the option you use)
Then you can sign in
- Deposit Money
Sign in
Click Deposit with a QR code and its associated wallet address, and send the appropriate cryptocurrency to your Huobi wallet.
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- Buy coins and tokens
Go to the OTC page
Select an OTC Trade Request that has already been listed
Choose the coin you would like to buy from BTC, ETH, USDT, EOS and HT through the OTC service. You can send money via Alipay, bank transfer, PayPal and other payment methods to buy your desire assets from OTC sellers
HOW TO TRADE ON HUOBI EXCHANGE
Huobi offers USDT, BTC and ETH pairings. There are just over 40 USDT pairings, about 100 BTC pairings and a similar number of ETH pairings. The pairings are divided into categories depending on how long they are on Huobi and whether it is a fork of an existing coin. All pair prices may be displayed in relation to the trading pair or the US dollar. Before you start trading, you need to transfer the funds to the exchange account and click on market to trade the pairs you desire.
HOW TO WITHDRAW
Click on "Balance" page until you have identified the currency you want to withdraw
Insert the address you want to withdraw the funds into (make sure the addresses match and a wallet that supports the coin itself)
Click on the "Withdraw" button and wait.
Withdrawing fiat currencies is simply a matter of moving allowed crypto currencies into your OTC account (by clicking "Transfer" on the "Credit" page instead of "Depositing" or "Withdrawing") and then creating an OTC contract ( or execute another user's contract). The money you receive from the sale will be transferred directly to the appropriate Fiat account.
ORDERS AND HISTORY
On the Exchange page, your open and past orders are listed in two marked boxes below the trading window.
MARKET DEPTH
At a glance, a potential trader can get an overview of the total offering, circulation offer, website, white paper, and much more of a particular coin. This setup significantly reduces the crypto-currency-trading do-your-own-research factor by displaying most of the relevant information in a convenient box directly on the stock market screen. This information is further explained on the Huobi Asset Introduction page.
Click on the "Help" link at the bottom of the screen.
HUOBI TOKEN
Huobi has its own native crypto-currency called Huobi Token (HT). The Huobi Token (HT) can be purchased through the exchange and is issued as part of loyalty and new customer rewards programs. Huobi Token (HT) has a total supply of 500 million tokens, and Huobi regularly buys back a certain portion of the tokens to serve as an emergency user protection fund.
There are other trading options in Huobi
- HADAX (Huobi Autonomous Digital Asset Exchange)
The HADAX platform gives professional traders access to more comprehensive version of the regular cryptocurrency market. Huobi does not independently review the investment value of coins and tokens registered for trading in the HADAX system, as it does on the primary Huobi platform. HADAX users vote for token listings, which HADAX then validates as authentic and legitimate.
To become a HADAX user, investors must comply with minimum investment standards due to the increased risk involved in trading these coins and tokens. If a coin or token is accepted on the HADAX platform, there may be a possibility of being listed as a new coin on the main Huobi trading post, as long as it complies with Huobi's investment standards. Removing a coin from Huobi does not necessarily mean it's removed from HADAX.
- OTC
Huobi's OTC offers potential buyers and sellers the ability to move large volumes of coins without encountering the volatile foreign exchange market. Certified traders can register here, and slippage can be minimized by directly comparing buyers and sellers instead of creating market orders. OTC cryptocurrency transactions are typically carried out when buying or selling volume is likely to be large enough to get the market moving or when time becomes a significant factor.
- Margin trading
Huobi also offers margin trading. The margin trade is a different animal than the home trade. Funds lent by a broker are used to trade a particular cryptocurrency, and the cryptocurrency serves as collateral for the broker's loan. Both long and short positions can be taken. This has the potential to increase both profits and losses and is therefore only recommended for experienced and knowledgeable professional traders. Margin trading requires a market understanding that allows a trader to anticipate multiple steps into the future of a coin or token. Misfortunes can be extremely costly but also extremely lucrative. Before you can use Huobi's Margin Trading section, you must confirm an additional Lending Transaction Agreement before proceeding.
CONCLUSION
The use of Huobi offers many advantages. You can easily deposit, trade and withdraw money. In my opinion, Huobi is one of the best crypto currency exchanges for trading between different cryptocurrencies. It offers a great, user-friendly interface that appeals to all types of traders. In addition, it is a platform that you can trust.
Here are other official links of Huobi
Huobi Global Official Announcement Channel
This article was composed by Benedict
My Telegram username: @bi_tuna