Top of the day Steemians, am back again this time to talk about Spotlight on Huobi 7th Anniversary Celebration Rewards. Below I would take you through them so read till the end.
Spotlight On Huobi
Huobi is an Asian based cryptocurrency exchange founded in China with it's headquarters located in Seychelles. It was founded by Leon Li in 2013 and has branches in some Asian countries including the USA.
How to register and get started on Huobi
I would be using the Huobi mobile app to show you how to sign up successfully below.
You would then be redirected to a page were 12 words are written downlaod the back up key words and also write them down in a safe place, click proceed and select the 12 words according to how they appeared serially in the previous page. When done, you would recieve a welcome message to select the list of cryptocurrencies you wish to trade and have their wallets open on the app. Select and proceed and then you are set to start trading on the Huobi Platform.
How To Trade On Huobi (Trading Bitcoin Options)
- From the order menu, selected a price that you want to buy the contract at and the number of Contracts you wish to purchase.
- Hit the Buy Call button for your Limit order to be placed and when the Mark price of the contract reaches it, the order will be executed and you will be able to buy Bitcoin when the contract expires on your set date.
- If the price of Bitcoin goes above your strike price, you will make profit, but if it’s below that, we will lose the options premium.
- You can track your positions and their performance below the order.
The Reasons Why I Like Huobi
In my course of using Huobi exchanger, I noticed some great features it had and that made me like it. Below are a few reasons I love Huobi;
- Over 200+ cryptocurrencies are listed on Huobi exchange.
- Huobi supports creditcard form of payment which makes it standout from most exchangers.
- Huobi offers a flat fee of 0.20% and a discount is gotten if a user has Huobi Token in his wallet.
- it has been offering satisfactory digital assets services with experience since 2013
- Huobi has 5 times leverage trading for its users.
- Huobi has never been hacked since it's launch in 2013 mostly because about 98% of its funds/assets are stored in multi-layered protected cold wallets.
- Their customer support system runs for 24hrs every day of the week.
The Features/Products I Like Most On Huobi
The feature I really like most about Huobi Exchanger is their use of credit card to buy cryptocurrency on their platform. In developed countries were credit cards is made available to ease the stress of citizens financially, Huobi would serve their demands better with the use of credit card to buy cryptocurrency. The flexibility of using credit cards on Huobi is the feature I love the most.
The Aspects I Like Huobi To Improve On
The aspect I would really like Huobi to improve on is their Low Withdrawal Limit. The withdrawal limit is very low and not good for traders that trades in very high volume daily, that would definately push away high volume traders to other platforms that has high withdrawal limits. However, if this is considered and increased then the number of high volume traders would also increase thereby affecting Huobi positively.
Below is a Table to show the Huobi withdrawal limit per time and per day for the top 5 coins in market cap;
Features/Services I Like To See Added To Huobi
The Feature I really want Huobi exchanger to have is a feature that allows other forms of deposit or withdrawal of cryptocurrency on their platform such as paypal, skrill, debit cards etc. These would create an avenue for more users of cryptocurrency to start using Huobi since they make various forms of deposit and withdrawal available.
How Huobi Compares With Other Exchanges(Binance)
Below is a table to compare Huobi exchange with Binance Exchange;
|Very low Fees||No fees for Chinese but they charge foreign users traders|
|A myriad of coins to exchange with||Lesser coins to exchange with|
|No lags experienced with website||Afew glitches on website|
|Low trading volume||Untra high trading volume|
|0.10% trading fee||0.20% trading fee|
|No withdrawal fees||Have withdrawal fees|
|No deposit fee||Deposit fee meant for non chinese citizens|
|Have over 100 tradable coins||Bitcoin & Litecoin are the only tradable coins|
|Lesser Liquidity||Super-high liquidity|
|Customer support lacks phone||24/7 phone support|
|Has been hacked one time and compensated their users||No history of a serious hack|
|Binance have different domains for US, European and rest of the world users||Has lesser domains for users worldwide|
|Gives more information in English||Offers ittle information in English|
|Real time trading volume||Possibly faking trading volume|
Ftom my above review, you can see that Huobi is a user friendly exchange platform for trading cryptocurrencies. I really hope they can include other forms of deposit and withdrawal to help more users trade at their convenience. Thanks for the time you too in reading my entry, I would be back with more on Huobi Exchange.
Thanks to @steemitblog for making this interesting cryptochallenge, I forward to participating in more contests and challenges from you.
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