My Spotlight On Houbi

Hey Traders

Houbi has hit its 7th year of operation. In that time, they've made some pretty impressive strides in growing their business and adding new features so that crypto traders have more options when playing the market and investing capital.

If you've never heard of Houbi before or you used it once and never again, here's my rundown of the platform and what I thought of the services they provide.

How to register and get started on Huobi

• You would first need to visit the Houbi site
• Click on sign up
• Provide your email, password, nationality
• Optional - Invite code to tie you to a referral
• Agree to the User agreements
• Click sign up

You will then need to verify your email, and then you can log in. As a new user, you may also want to complete certain tasks, like verify your KYC and set up your 2FA to secure your account.

You can then head over to your wallet and get a deposit address to fill your account so you can start trading.

How to trade on Huobi

You can trade on Houbi either using the basic spot trading tool that most users would opt for; you can do margin trading and add leverage to your trades. You can trade in derivatives like futures contracts and so much more. There is a range of financial products on Houbi all designed for different investor needs.

The reasons why you like Huobi

I am personally not the biggest fan of Houbi; simply because I wouldn't say I like centralised exchanges in general and this has nothing to do with them as a brand, I'd say the same for Binance, Kucoin, Kraken, Coinbase and more.

I do like Houbi's clean look and her support of a range of tokens, that make it easy to get in and out fo different pairs, as well as their index fund, I think that's a welcomed option for those who are into passive investing.

The features or products you like most on Huobi

I would have to say the savings account is my favourite, supporting both USDT and BTC, their rates are not as good as let's say Celsius or BlockFI who specialised in this service. Still, It's a pretty good option for investors who want to make their money and don't always want to lock it up in trades.

Any aspects you would like Huobi to improve

Houbi has so many tokens listed that its easy to get overwhelmed especially for new users who want to get into trading. If there were a learning section to the site the way coinbase and coin market cap have where they give you high-level reviews of coins and what they do, that would be great.

I think education is important if we are to get investors to make better decisions and thus use the platform more often.

Any features or new services you would like to see added to Huobi

I would like to see Houbi support the lightning network so that we can do lightweight transfers of BTC in and out of their system. Having the option of skipping mining fees when transferring Bitcoin is always going to be attractive to users.

I would also them have a DEX option too for those who don't want to KYC but would like to make trades on pairs they offer since they already have the liquidity, they could be the primarily LP provider until investors come in and fill those pools.

How Huobi compares with other exchanges

I think Houbi is a pretty robust exchange for those who like to use centralised services; it has spot trading, leverage trading, index funds, futures and a lot of legacy financial products you can access but based on this new asset class.

They also have the savings accounts which are great for those who don't want to make things complicated with DE-FI or don't want to handle their crypto themselves.

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Share your thoughts on Houbi

If you would like to share your experience using Houbi, you can find all the details here

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