Huobi Exchange - Steemit Crypto Academy Season 4 - Homework Post for Task 7

in SteemitCryptoAcademy3 years ago


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This post answer the question to the homework task for the steemit's Crypto academy fixed beginner's course task 7 by professor @imagen, with the question;

Choose any of the following exchanges and develop a basic guide on how to use it, indicating whether it is decentralised or centralised.
Huobi
KuCoin
Waves Dex

Huobi exchange

Huobi exchange is an exchange which has been leading in trading of the top Cryptocurrency especially top trader of bitcoin and etherum. They offer trading pair in over 100 coin and investment in most of these coins. Huobi exchange is the third largest of all centerlized exchange that trade Cryptocurrency behind Binance exchange and Coinbase exchange.

Huobi exchange is term a centralised exchange because they stand has third party between a buyer and a seller just the same way the local bank help to complete our transaction. Huobi is the holder of the private key of all their use has the user has given them access to the key. They also offer security of this key and also are responsible for the protection of their user asset as they serve as a platform for completing transaction. Huobi exchange also offer very low transaction fee with fast and easy navigation of their platform.

Huobi exchange was created in 2013 by a computer engineer named Leon Li. The exchange was first established in chain and has expand down to the United States and is currently a registered company in Hong Kong with a branch office in South Korea too. They have built a very good reputation in trading since creation and they have offered to their customers very good service and customer care system that live chat 24/7 and also provide Greta security for their customer without any record of hack attack.

Huobi announced the launch of Huobi token (HT) around January 2018 which they did till around Feb 2018 and this was for the exchange form the loss of customer cause by the regulation of Cryptocurrency issue in chain around September 2017 which made them loss almost all their customers. The token was sold to their pros user who brought a specific package, about 60% of the token were distributed to them. They also have a stable coin on the exchange which is the HUSD which is like the busd of binance or the usdt of the etherum network.

A basic guide on how to use huobi exchange

Huobi exchange can be access using this link. The home page of the website requires use to log in for proper navigation of the platform. Click on the upper right concer to log in the platform of you do not have an aaccount I will give an example of an account creation has I don't have an account too.

signing up on huobi

  • Click on sign up at the upper right concer to create a Huobi exchange account.
  • Input the Gmail and choose a password then click on sign up.
  • Input the verification code sent to your Gmail
  • Your sign up is successfull

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Exploring huobi exchange

After creating an account on the hobi exchange, the homepage of Huobi exchange entails alot of details and it's also has menu for access to other websites of Huobi. To explore the Huobi exchange best it is recommended to download the apk for easier navigation. Here Is the link to download the houbi exchange Mobile application.

After downloading open the app and click on get started and login with the account you have created then you will have to verify using a Gmail code. After all this the app is ready to use.

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The list of significant Button on the app are in the table below with their function.

Buttonfunction
Menu buttonon the upper left corner, used to access the account details and setting with other security function
Search buttonon the upper middle side, used to check for trade pasir available on huobi
Message Buttonon the upper right concer, used to check for notifications and new update.
Buy with ngnto buy token with your bank ATM card
P2pto trade token directly with other Huobi user to pay in your own local currency
Gain and volumeit reveals the top gainer almost token in the last 24hour and the same with top volume
Marketon the lower left part of the page, is used to check for list of all pair combination on huobi exchange
Tradeon the middle lower part of the page, is used to buy and sell and to set other trade options on huobi
Derivativesused to access the future trading and it's Various activity on huobi
Walleton the right lower part of the page , used to cces the wallet that hold all kind of asset that belongs to the user on huobi

Conclusion

Huobi exchange has been a top exchange ever since their creation in 2013 and with optimum security of their customers asset. The only time the exchange has a set back was during the chain Cryptocurrency ban in 2017 when they had to disallow withdraw of token to follow the policy of their government.

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