A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Huobi consists of four parts: general information, fees, deposit methods and security.
Huobi declares on its website that it has “millions of users” across more than 130 countries. They also state that they trade over 1 billion USD in assets.
As for customer support, it is open 24 hours a day 365 days a year.
The exchange does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
Huobi Trading fees
At the beginning of 2017, several zero-fee exchanges started working in China. OKCoin, Huobi, and BTCC invited an influx of funds. But only months later, regulators forced the exchanges to impose a flat 0.20% trading fee. Today, there is only a handful of exchanges in the world offering zero-fee trades and many of them get paid in other ways (e.g., charging higher withdrawal fees).
This exchange is still charging 0.20% in trading fees for both takers and makers (flat trading fee). 0.20% is slightly below the global industry average. The industry average is arguably around 0.25%.
Huobi Withdrawal fees
This exchange charges a withdrawal fee amounting to 0.0001 BTC when you withdraw BTC. This fee is below the industry average and thus constitutes a competitive advantage against the majority of other top crypto exchanges in the market.
This platform offers wire transfer as a deposit method, but you can’t deposit via credit card.
Huobi’s security score is D+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. The above exchange does indeed have great liquidity. However, the following cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: