Huobi is a crypto exchange where users can buy, sell and borrow cryptocurrencies, creating a complete ecosystem for knowledgeable crypto traders and investors. It is a renowned cryptocurrency exchange with a significant presence in Asia.
Huobi has swiftly gained popularity and is now one of China’s three largest cryptocurrency exchanges, giving crypto traders a liquid market for trading cryptocurrencies.
The business thereafter became incorporated in Seychelles and established a new headquarters in Singapore to grow in other Asian markets as well as the rest of the world. One of the most liquidity cryptocurrency exchanges in the world is Huobi, which has effectively expanded its user base outside of China.
Features of Huobi
- Simple user interface: The Huobi website mixes functionality, visual appeal, and sophistication, similar to many exchanges. It is very simple to browse. The trading interface is orderly structured and has appropriate cost feeds, charting tools, and market depth data. Huobi’s sophisticated user interface and functionality are also advantageous over the competing crypto market, which offers smaller tokens and altcoins.
- Effective Customer Service: Customer concerns are handled by Huobi quickly. It’s also incredibly simple to get in touch with their customer support staff. Any trading-related concerns are promptly resolved by the customer support personnel.
- Security: Huobi has strong security procedures in place. It offers a variety of security measures to protect users’ accounts, such as 2-factor authentication that works with both SMS and Authenticator applications.
- Cross-Platform Compatibility: Huobi platform is interoperable with a variety of systems, including Windows, iOS, and Android.
- Heco Chain: Heco is a decentralized and public blockchain that uses a Proof of Stake protocol to achieve network consensus. It is EVM-based and allows for projects to be ported from other EVM networks like Polygon, BNB Chain etc.
Huobi offers more than this, but these are just some features you should look for on Houbi.
How to Open a Huobi Account
- Visit the Huobi website to register/signup to own an account.
- On the signup page, you are required to first register using your email address or phone number.
- Enter your preferred password (Must have at least one alphabet, symbol, and letter)
- Click the signup button.
- The verification page appears (You need to verify your email/phone number to be sure you are the rightful owner).
- Go to your email or SMS inbox to check for the verification code then input the code into the empty boxes, then click on verify. (You are now registered and have a Huobi account).
Note: It is important to set up 2FA to secure your account from bad actors.
How to make your first trade on Huobi
- Log in to your Huobi account and click on the dropdown beside spot trading. (There are other types of trading: margin, futures) to choose your choice of trade.
- Click on the left side of the chart tagged “Tokens” to show the available trading pairs.
- Click “USDT” and select the BTC/USDT trading pair. (This guide used the BTC/USDT trading pair for illustrative purposes).
- Select the type of order in the “Limit Order” just below the chart. Advanced options like “Stop-Limit” and “Trigger Order” are available for users to use when placing orders. Enter the quantity of BTC you wish to purchase, and the associated USDT costs will be presented.
- Limit Order: enables you to put a purchase or sell order for a predetermined price.
- Market Order: enables you to purchase or sell cryptocurrency at the current actual market price. . Enter the price in USDT and the desired purchase quantity in BTC.
- Select “Buy BTC” and wait till the transaction is completed.
- The Limit order will be fulfilled once the market price of BTC reaches the price you specified.
This guide provides a simple way to make your first trade on Houbi. It is a simple and straightforward guide. There are a lot to learn about trading cryptocurrencies on whether on Houbi or other exchanges. To be a successful trader, you should learn about how to use technical and fundamental analysis to predict market movement before taking a trade.
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