Spotlight on Huobi Challenge | Huobi Review | Part-01

Hi everyone,

Today with great pleasure I want to participate in the Spotlight on Huobi Challenge. I hope you like it. So let's get started...

Introduction

Huobi Global is an online cryptocurrency exchange accessible by both desktop and mobile devices. The exchange was established in 2013 by Huobi Group and has become one of the world’s most well-known crypto exchanges. The exchange is based in the Seychelles and was financed by ZhenFund and Sequoia Capital.

^{Huobi Global Crypto Trading}

With daily volumes around $1 Trillion per day, Huobi Global is an extremely liquid exchange over multiple crypto trading pairs including BTC, ETH, LTC, XRP and more. The exchange offers both spot and margin trading, meaning that you can trade with more than your account balance should you so wish. On the other hand, it is more well-known for spot trading. If you are looking to trade on margin, I recommend checking out Bybit which offers up to 100x leverage – meaning that you can trade with 100 times more than your balance.

At the time of writing, Huobi Global, unlike many other exchanges has not been hacked and has thousands of satisfied customers all over the globe.

Huobi Global is not open to US residents whatsoever, they GEO-block users from the US, although this can be overridden with a VPN like BulletVPN (I do not recommend doing this).

The CEO of Huobi Global is Livio Weng, he has been in the position since 2018. Here’s an interesting interview with him regarding the Huobi Global exchange.

As a Chinese exchange, many people are concerned as to the safety of the Huobi Global exchange due to China’s view on Bitcoin & other Cryptocurrencies (they’ve been known to ban them in the past). For this reason, let’s take a look at the safety of Huobi Global.

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Is Huobi Global Safe?

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Security of traders funds is of utmost importance to crypto exchanges and as I have mentioned above, the Huobi Global exchange has not been hacked and therefore can be considered as a safe cryptocurrency exchange although you should always understand the risks of keeping your capital on cryptocurrency exchanges.

Another aspect of safety we need to look at is the features they have in place to protect users accounts from being breached. Huobi Global offers 2FA (2 Factor Authentication) like Google Auth to secure users accounts as well as withdrawal email confirmations and notifications. In addition to this, there is a captcha on the sign-in page to ensure that robots are not used to high-frequency test login details. Overall, I’m pretty impressed with Huobi Global’s safety & security features – it’s everything I would like to see with an exchange of this calibre.

In my opinion, there’s no cause for concern regarding regulation and the Huobi Global exchange – many other crypto exchanges are based there and are staying compliant in order to ensure that users funds are kept secure. A method of combatting this security issue would be to take your funds off the exchange once you are finished trading and then put them back there when you need to trade again.

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Register & Login

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Signing up (registering) for a Huobi Global account is free and takes around 5 minutes to complete. I love the fact that you can choose to register with a mobile number OR email address, you don’t usually see this with crypto exchanges but it’s a really nice feature which makes it easier and more flexible to get started. Anyway, here’s how to register on Huobi Global:

1. Visit Huobi.com

2. Click "Sign Up"

3. Select which sign up method you want to use and then fill in the details as necessary.

4. Click the ‘Sign Up‘ button at the bottom of the form.

5. Confirm your email address

Don’t forget to use invitation code ig5y4 when signing up to Huobi Global to get the latest invite offer.

^{Huobi Global Register (Sign Up) Process}

Now that you’ve got your account setup, it’s time to log in and make a deposit. To do this, just go to hbg.com and click ‘Log In‘. When prompted, fill in your details which you used in the registration process and then proceed to login.

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Deposit

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Now that you’ve logged into your account, you’ll need to deposit funds into the account before you can start trading. Deposits can be made in almost all cryptocurrencies which are available on the exchange.

The most common deposit methods used on Huobi Global are Steemit (Steem), Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and Litecoin (LTC) etc.

To make a deposit on Huobi Global, go to ‘Balances‘ then ‘Exchange Account‘ – here you will find all the cryptocurrency deposit address for your account. Choose the crypto you want to use to deposit, copy the address and then send funds to that address.

^{Huobi Global Balance Navigation}

^{Huobi Global Deposit Address}

Depending on the cryptocurrency you use to deposit onto Huobi Global, you should be able to use your funds on the exchange within 1 hour, sometimes it’s faster, and sometimes it takes longer, as I said, it all depends on the currency used.

To be continue...

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