Spotlight on Huobi Challenge with 7th Anniversary Celebration Rewards | Knowing and Setting Up Your Huobi Account - Chapter 1

Hello steemians

Welcome to my blog today. In response to the Challenge that was initiated by @steemitblog about the
Spotlight on Huobi Challenge with 7th Anniversary Celebration Rewards. I will Be writing based on the following Topics:

• Get To Know Huobi Trading Platform: Brief History
• Know The Features to Trade Effectively
• Why You have To Trade On Huobi Exchange Platform
• How to Register and verify Account With KYC verification.
• Conclusion

First, I will like to appreciate @steemitblog for making Steem blockchain a wonderful place with the rate of contests that are pumping out every now and then. Its actually the best way to engage users of this blockchain, thanks to you again.

Now let's take a look at this amazing platform called "Huobi". Its like any other exchanging platform that you know, but let's see what's special about this very exchange platform.

Get To Know Huobi Exchange platform: Brief History.

Today, Huobi is among the world leading Exchange for cryptocurrency. It was founded by a man called Leon Li. Leon Li was a former student of Tsinghua University department of Automation, He Later became a computer engineer at Oracle after which he Founded Huobi.

6 years ago, the company acquired a domain name which is Huobi.com and lunched a simulation Trading platform on the 1^st Of August 2013 within an interval of month the Bitcoin trading platform was lunched on the platform. The company became so popular when its trading volume exceeded 30 billion yuan that made it to become China's Largest Digital Asset Trading Platform at that time.

More traders and investors began to trade on Huobi trading platform, around June 2016 the total transaction of the platform reached 1 trillion RMB and in November 1.7 trillion yuan was accounted for more than 60% of the world wide bitcoin exchange market. On the 22^nd of December the company's daily transaction volume transcend 200 billion yuan.

There was a time in September 2017 That China banned all about bitcoin exchanges and ICOs. Then news had it that Huobi with their initiative adjusted its business pattern in other to promote global extension. After some weeks They announced their official expansion into Korea with their headquarters at Seoul, South Korea and started trading in march 2018.

Around 2018 August they gained 74% stake in hong Kong Electrics Manufacturer Pantronics Holdings, this made the exchange to be listed in the Hong Kong Stock Exchange.

Huobi Exchange has come a long way and has gotten many years of trading experience. Currently, Huobi uses Huobi Labuan to regulate crypto exchange in Malaysia country.

Know The Features To Trade Effectively

Its so obvious that most of the prominent exchange platform are related because of their features. Today, Huobi is listed as one of the efficient exchange platform because of its features that I will list below:

Source

User Protection Fund:

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This the most important aspect of any given exchange platform. Trading cryptocurrency has never been easy because of the numerous number of hackers and scammers that has been raging around it. Most exchange platform like Huobi Global has seriously build a strong security level for this measure.

Its security measurement is similar to that of "Binanace SAFU" Where all users fund are been funneled into their protection fund as a form of insurance policy against Hacks and other unforseen circumstances that may affect the account. With this security measure, users will be rest assured of safety on their wallets.

Variety of Trading pairs

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Huobi exchange has huge variety of trading pairs, 902 trading pairs with 862 known pairs. You can check Here to see the list of Huobi Trading pairs. Trading pairs is very relevant when it comes to trading currency. Huobi has impressively arrayed variety of pairs that you might be foreign to you. The platfrom's focused on the projects from Asia and this has brought many upcoming coins from China, Korea and Singapore.

One time Customer Support.

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My experience on most of the trading platform like Roqqu exchange and other prominent one has been too poor compared to Huobi's exchange. When I signed up for an account on Huobi exchange, the first thing I did was to contact their customer support, though I was not having any issues but I wanted to know how reliable it will be.

When I contacted their customer service, it was crazy fast how they responded. This aspect is the most interesting part of Huobi exchange as most of this account do have issues and contacting Huobi regarding this account issues simply means you can get response within an hour as I have experienced. Quick response of Huobi has gave it the lift above other exchange in the world today.

The Fees

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Huobi exchange is highly recommended when it comes to trading fees. The exchange token being Huobi Token(HT) allow users to cut the trading fees in half, also engage in the decision regarding the platform and participate in IEOs.

^{Image of the fees updated 5months ago: screenshot from My Gmail account.}

The fees Reduction is very easy when using the Huobi Token. Just hold some HT in your wallet then in your user configuration area, select option to use HT for trading fees, with this you will enjoy a huge discount compared to standard fee which is:

• Maker fee: 0.2%
• Taker fee: 0.2%

When using the platform's token, the fees are been divided into half. Also they have a VIP membership that you can book to reduce the fees up to 65%.

Derivative Trading and Margin Trading.

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Derivative Trading

Derivative trading also known as Huobi DM was lunched around 2018 after the successful expansion of the main platform. When talking about Huobi derivative, they offer futures and very important swap instruments. They are purchased up to a maximum of 20x on the futures and 125x on the swap instrument.

Huobi Derivative supply a trading functionality via different platforms. These are their web platform, their PC version and their mobile applications. Their derivative outcome include futures, USDT margined swap and coin margined swap

Some traders may ask, is it safe to trade on Huobi DM? Trading on Huobi derivative is highly secure as it operate on both cold and hot wallet. What it means is that all funds are stored offline which can not be compromised to hackers. They also has a small percentage that is lock in the Hot wallet.

^{Some of the security procedures at Huobi Derivative: screenshot from Huobi plaform}

Margin Trading

Following the derivative trading, Huobi is also among the exchange platform that offers support for Margin and C2C lending. C2C - This is a sub section of Huobi for lending which is a crucial development to the Huobi margin product.

C2C Lending offers a service of lending C2C token to C2C token lenders. It is two phase which are: C2C Lending and C2C Margin. C2C Lending allow traders that has idle token balance on the platform to request to lend their tokens as form of getting daily interest. Any user that is in need will borrow from the lender in agreement with the predefined daily interest. It also has a payment date where all borrowed tokens will be automatically close and return the borrowed tokens with their corresponding interest owed after 30 days.

Withdrawals and Deposits

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Huobi exchange has not introduced fiat currency as a means of deposits and withdrawal. Currently it only accepts crypto - crypto deposit and withdrawals for it users although it has a feature for trading fiat where some crypto currency like XRP, ETH, BTC can be purchased using fiat currency via debit cards, credit cards etc..

The deposit and withdrawal system does not incur any fee and they are done within a couple of minutes. It has withdrawal limit and also vary based on the user's account, weather verified or not.

Why You have To Trade On Huobi Exchange Platform

Every Trader would have to look out for the best platform before investing or Trading, most especially, when trading cryptocurrency. You are expected to consider major facts about your broker. Huobi is a cryptokannon exchange that has been existing since 2013 and it ever since it started it has not experienced any hack or currency theft on its platform - that's a great fact to consider.

The platform also offers an high exchange experience for both Beginners and professionals. It is seen as one of the best exchange today because it has impressively build an exchange that is too competitive with other similar platform. Its instant and constant customer service (24/7/365), highly secured exchange and smooth user interface are all great facts to consider.

Having said all this, I know you will like to experience it. Now let's get an account for trading on Huobi Global.

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How to Register and verify Account With KYC verification.

Step 1: Visit the website with this link: https://www.Huobi.com.

Step 2: Once you visit the website the below image will show up.

^{Huobi's sign up page: screenshot from Huobi's platform}

On the page being the Huobi's sign up page, you will Register with your email address. After inputting your email address click on grab now and the below image will show up

^{Huobi's welcome bonus message: screenshot from Huobi's platform}

The above image showed up because Huobi is celebrating there 7th anniversary so they decided to give reward to their new users. You can be one of them by clicking on claim rewards now. After clicking on claim rewards now something like this will show up.

^{Get the app on playstore: screenshot from Huobi's platform}

Here, to stand the chance of winning the $170 you will have to click on the get it on Google playstore. Once you click on it you will be taken to your Google playstore like this:

^{Google Play Store: screenshot from Google play store}

The next thing is to click install and wait for some minutes for it to install. After the installation, it will display like this :

^{Google playstore after installation of the Huobi's app: screenshot from Google playstore app}

Now that you have installed the Huobi's global trading app you will then click on open to open the Huobi's app that was installed on your Mobile phone. Once you click on open, you will be taken to the page where you will accept the T&C (Terms and Condition) of the Huobi global exchange app. See sample below.

^{Huobi's Terms and Conditions: screenshot from Huobi's Global App}

After reading the Terms and Conditions, you can then click on accept if it matches your requirement as a trader. When clicked, an image like this will come up, it is just an overview of the platform features of which I explained earlier. You can choose to skip or go through it by clicking on next as it is on the screen.

^{Overview of Huobi features: screenshot from Huobi's Global App}

After you might have skipped the overview, you will see something like this:

^{screenshot from Huobi's Global Exchange App}

Here they gave two option which are:

^Beginner

And

^{Experienced Trader}

You know yourself very well, are you an experienced trader? If yes then you choose the one that best suites you, but for newbies I advice you choose beginner so the trading platform will know that you are a beginner. After you might have selected your choice, you can now click on enable and the next page will come up like this:

^{Huobi's sign up page: screenshot from Huobi's Global App}

On this page your are give two options, either by signing up with your email address or with your phone number. But first you have to specify your country on the small drop down arrow before the next task so Let's go by email address after you might have chosen your country: once you input your email on the space give like this:

^{Huobi's sign up page : screenshot from Huobi's Global App}

You can now click on next and on the next page you will be asked to complete a Google reCaptcha for human verification. Check the sample below.

^{Huobi's Human verification using Google reCaptcha: screenshot from Huobi's Global App}

Its very easy, just click on i am not a robot and follow the instructions to verify, for my account the instruction there is that I should click on the images that contains a fire hydrant, once there's no one left you can click on verify and it will that you are human.

^{Huobi's verification using Google reCaptcha: screenshot from Huobi's Global App}

After a successful verification, a page like this will appear.

^{Huobi's Email verification: screenshot from Huobi's Global App}

Here you're asked to provide the Email code that was send to your email account. To collect the code open your gmail copy the code and paste it on the space below.

After that you click on next, you will be taken to page where you will choose your password. Note: Your password must be 8-20 characters long and it must not be only letters, this is for security reason. At least 1 number should be included in your password. Example of a valid password: h8b21xs5ea

^{Huobi's Password Creation page: screenshot from Huobi's Global App}

After creating your password don't forget to accept their T&C that's if you like it. After you have accepted you can now click on sign up. After clicking you will be taken to next page that looks like this:

^{Huobi's pattern password: screenshot from Huobi's Global App}

For the sake of security, you are asked to create a pattern that only you can access. To create one for yourself, click on create and you will be taken to the page for the pattern creation. After creating it you will be taken to your account homepage like this:

^{Huobi's Global Homepage for App Version: screenshot from Huobi's Global App}

Now that you have created an account, let's verify the KYC verification, although the verification is not really necessary. You can still trade if you decide not complete the KYC verification, but I recommend you verify it because it symbolizes "Know Your Customer" in case you loss your credentials to access the platform or you unconsciously disclose your credentials to any third party site, with your verified KYC you can recover your account quick and at ease.

Also accounts that are verified with KYC enjoys a higher limitation of withdrawal on daily basis.

• Non-Verified Account: Can withdraw 2 BTC per day/ 24hr while

• Verified KYC Account: is given a withdrawal limit of 100 BTC per day/24hr

Now let's verify your account with KYC verification. To verify, jus login to your Huobi account. On the home interface at the top left of the screen click on the profile icon like this:

^{Huobi's Global Homepage for App Version: screenshot from Huobi's Global App}

Once you click on it, the below image will show up. You just click on the KYC verification as the arrow has pointed below

^{Huobi's Global app Version: screenshot from Huobi's Global App}

After clicking on it, you will be taken to next page where you will fill in your details.

^{Huobi's Global page for KYC verification on App Version: screenshot from Huobi's Global App}

The below details are what you are expected to fill in the above space.

• Your ID card, this can be Your password, Driving License or Your national identity card.

• Your name and Country Must match with that on your ID card

Note:
The uploading photo ID card formats include JPG or PNG formats. The photo must be less than 5MB and the details on the document that you're uploading must be clear especially the names, identity numbers, and passport.

Please don't upload a copy version of the document. Once you are done with the uploading you can now click on submit, it takes 24hrs to finalize the process if your documents are uploaded correctly, but if after 3days no verification you can contact the help line.

Conclusion

With what i have written thus far, it simply shows that Huobi is a wonderful platform for cryptocurrency traders. It has a nice user friendly interface for trading and also wide variety of cryptocurrency pairs.

With Huobi you are assured of your funds as it has a strong storage and user intervention fund incase of any incident. They also have a well structured exchange application for both Windows, Mac, iOS and Android devices.

On the next chapter of this article i will write about how to deposit and withdraw your funds. Thanks for valid time.

Refrence:

blog.shrimpy.io
Cryptokiemtie.com

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Cc:
@steemitblog
@steemcurator01