What is Huobi crypto exchange?
Huobi is a Chinese crypto exchange with high liquidity founded in 2013. Since its inception, this exchange has become the most popular and largest crypto trading platform due to its high trading volumes. Traders also have a wide range of digital coins to trade on this platform. Now there are about 970 crypto pairs. In addition, the exchange supports margin trading and P2P transactions.
Huobi is constantly evolving, adding new features and cryptocurrencies. Thanks to this, the platform attracts more and more new users.
History of Huobi
The Huobi crypto exchange was developed in 2013. At first, the platform was intended for trading simulations, but after the project team received investments, the service began to gain momentum again. In 2016, the platform will already function as a full-fledged crypto exchange.
In 2017, the policy of the Chinese government was directed against the crypto market, and Huobi, like other cryptocurrency exchanges, was forced to leave China. After that, the exchange officially moved to Singapore and opened its offices worldwide.
Huobi Global is now one of the top 20 crypto exchanges in terms of daily trading volume. The daily trading volume of the exchange is $478,327,935.
Crypto trading on Huobi
The Huobi crypto exchange allows users to trade in the spot market. To do this, they need to select the “Spot trading” tab and then click on the “Trades” button.
The procedure for opening an order to buy and sell is the same as on other crypto exchanges. Users only need to specify a few parameters to start spot trading:
- Crypto pairs.
- Place an order (limit, market, or stop-limit order).
- Specify the amount, volume, stop price, etc.
- Click Buy/Sell.
Margin trading is also available on the exchange, platform users can trade both using their own and borrowed funds. To start margin trading, the user must select Spot Trading and then Margin. Traders can choose the leverage up to X5 on the Huobi crypto exchange. Thus, they can increase their income five times.
The exchange also allows you to trade cryptocurrencies using algorithmic functions, namely a bot for trading cryptocurrencies. To use this tool, the user must navigate to the Spot Trading tab and then click on Trading Bot.
Users with the help of brokerage, traders can make transactions without the participation of intermediaries. To use this feature, the user must be verified.
Types of orders on the Huobi exchange
Platform users can use 4 order types for their trading:
- A limit order is an order to buy or sell that is executed instantly at the current market price.
- Stop limit order – This type of order is only executed at a pre-set price.
- A limit order allows users to manage risk and limit financial losses. When placing an order, the user specifies a stop price and a limit price in the settings. The stop price is responsible for placing a limit order (a digital coin reaches a certain price point). The limit price is the price of the limit order at which it will be executed.
- Trigger order – this order is executed only under certain conditions. The user sets the order value and contract volume. The order is executed if the price of the asset reaches the trigger.
Additional earning opportunities on Huobi
Staking is a type of earning by storing tokens on the PoS (Proof of Stake) algorithm. Thus, the user of the exchange ensures the operability of the blockchain and receives income for this.
Primepool is a service that is designed to lock up digital coins in order to receive new tokens during airdrops.
This is a product that allows users of the exchange to earn by storing digital assets. Users are allowed to convert a portion of their retention funds into flexible and fixed income, which adds up to annual income. Please note that this feature is only available to verified users.
In 2020, the exchange introduced a new feature ETH 2.0 in one click designed to support ETH 2.0 staking. The user deposits ETH as BETH with a single click and participates in mining ETH 2.0 with proof of staking.
Beacon ETH (BETH) is a coin that is created to reward validators for confirming transactions in the blockchain. This token can also be purchased with ETH.
The exchange allows the use of the crypto-loans feature. With this feature, users can loan their funds to other users. Users can borrow thirty and more digital coins for 30 – 90 days.
Huobi also has a separate platform of knowledge base that allows users to learn about digital coin operation, cryptocurrency investing, and blockchain.
Each user of the crypto exchange can take part in the Huobi referral program and become a partner of the cryptocurrency exchange. Participants of the referral program receive up to 40% of commissions when trading in the spot market and 30% of trading in the futures market.
How to register on the Huobi cryptocurrency exchange?
The procedure for registering on the Huobi is no different from registering on other crypto exchanges. To register on Huobi, the user needs to follow the steps below:
- Click the Register button.
- Fill out the registration form (indicate phone number and email address).
- Confirm user agreement.
- Click the Register button.
Then the user will receive a code to confirm registration by email or phone number (depending on the selected registration method). The user must enter this code to complete registration.
Huobi does not require users to complete identity verification. That is, users can trade anonymously. However, keep in mind that users who have verified their identity can withdraw more funds and secure their accounts. To pass verification, the user must:
- Go to your personal account.
- Click on the profile icon.
- Select verification, and specify the country and type of document.
- Then you must specify the document number and personal data (first and last name).
- Click the Verify button.
After the user’s application is approved, he will receive a notification from the system, and the account status will change to verified.
The user can also enable two-factor authentication, which is an additional layer of security. This function can be enabled immediately after completing the registration and verification procedure.
Fee on Huobi
Cryptocurrency exchange Huobi charges certain fees for its services. Let’s see what the user will have to pay for, and what services are free.
Replenishing the balance is a completely free service and the exchange does not charge users a fee. But for the withdrawal of funds, users need to pay a fee. The amount of the fees depends on the coin that the user withdraws. For example, to withdraw funds in bitcoins, the fee will be 0.0005 BTC.
As for crypto trading, here the user also needs to pay a fee. However, users can reduce fees with the internal HT token. The more HT tokens a user has in their account, the less fee the exchange charges for cryptocurrency trading.
You can also reduce the commission fee with the help of high trading volumes. The higher the trading volume, the lower fees.
The platform has a trading terminal that allows you to trade both in the web version and through a smartphone. For spot trading, traders can use:
- Digital assets.
- Order book.
- An order to buy and sell a digital asset.
- Open orders.
- History of orders.
If the user wants to use the terminal with more advanced features or fully automate the trading process, he can register on the Cryptorobotics platform.
What are the trading features of Cryptorobotics for the Huobi exchange?
Cryptorobotics is the best free trading platform that provides various ways to trade cryptocurrencies. The Cryptorobotics team has created algorithmic and manual trading tools that allow traders to effectively manage their crypto portfolio, increase profits, and limit losses. These tools are suitable for both beginners and experienced traders. Let’s take a closer look at what Cryptorobotics features can traders use on the Huobi cryptocurrency exchange.
Platform users can use chart trading tools for free, including technical analysis tools, an order book, smart orders, and ladder orders for grid trading.
To use more advanced algorithmic trading tools, traders should purchase one of the PRO packages.
Algotrading tools include:
- Crypto bots
- Crypto Signals
Cryptocurrency trading bots
Crypto trading bots are a program that is designed to track the necessary indicators and independently make decisions about whether to enter a trade or not. Cryptorobotics trading bots are designed to sell and buy cryptocurrencies 24/7, even if the trader is not authorized on the platform.
The following types of cryptocurrency trading bots are available on the platform:
- Trade Holder
Autofollowing is a feature that automates the trading process with the help of a bot. The bot enters trades according to analysts’ signals. After the analyst gives the bot a signal about a possible deal, the bot processes it and starts opening orders.
The Cryptorobotics platform allows traders to follow analysts’ signals and monitor their execution from a single interface. Crypto signals are fully automated, which greatly simplifies the entire trading process, making it more efficient and reducing the risk of a deposit drawdown.
Copytrading is copying trades of a professional trader. This algorithmic trading tool helps you understand how the market works, create a profitable trading strategy, and save time for in-depth market analysis.
How to start using Cryptorobotics tools on the Huobi exchange?
To start using all the features of Cryptorobotics on the Huobi exchange, the user must follow these steps:
- Complete the registration process here.
- Create an account on the Huobi crypto exchange.
- Link an account created on the exchange to the Cryptorobotics platform.
- Set up all the necessary tools for cryptocurrency trading and start the trading process.
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