Public interest in cryptocurrencies has led to a multiple increase in the value of these digital assets and the emergence of many platforms for transactions with them. Virtual money quickly became an object of exchange trading, attractive to both private traders and companies. One of the platforms providing exchange services was the Chinese company Huobi, founded in 2013. This is a relatively old and multifunctional cryptocurrency exchange, the personal account of Huobi offers its clients a lot of opportunities.
The history of Huobi dates back to 2013. The company was founded in August of that year and was based in Hong Kong. As of 2017, its head office moved to South Korea, prompted by tighter regulation of cryptocurrencies in the PRC. After trading resumed in early 2018, the company’s growth continued, and soon it absorbed the American BitYes platform, thereby opening up new markets. In addition to trading, the platform now offers many additional features, which will be described in more detail in this review of the exchange Huobi.
Registration for the exchange Huobi
To trade on the exchange, new users must register and create an account. Buttons for this are located in the classic manner, in the upper right corner of the site.
Registration on the exchange Huobi private account has the following steps:
Click the “Register” button at the top of the page.
Select the country of residence, if the automatic selection by IP was incorrect.
Choose how you want to create an account: by email or phone.
Provide an email address or phone number.
Provide a password to secure access.
Insert referral code of invitation (if any).
Accept the agreement.
Click “Registration” and pass robot verification.
Insert confirmation code sent to your phone or e-mail.
That completes the creation of a private trader’s account, you can move on to your personal cabinet. The process of creating an institutional account for companies follows the same pattern. To do this, select the appropriate option in the registration window.
The next step after the registration of the account is the verification of Huobi. It can be performed in the section with the same name in the personal account of a user of the exchange. This procedure is necessary to verify the identity of the client. Without it, you can use the services of the platform, but there are restrictions:
withdrawal of cryptocurrencies – up to 0.06 BTC per day;
p2p transactions – not more than $150 per transaction;
futures – not available.
After passing the basic verification the quotas increase:
cryptocurrency withdrawals – 100 BTC per day;
p2p transactions – no more than $300 per transaction and $1500 per day in total;
futures – no limit.
Extended verification users have the following limits available:
cryptocurrency withdrawals – 100 BTC per day;
p2p transactions – no limit;
futures – no limit.
Verification is fast, it requires only a document that identifies the identity of the client.
Huobi Private Office
Buttons to access the personal account are located at the top of the page.
Functions are grouped by tabs:
Balance. In this section you can see the status of your accounts and make transactions using them. The general currency balances, margin accounts, contract accounts, Huobi Earn, staking, mining pool and other sections of the exchange are displayed here separately.
Orders. Active and closed trades of the user are displayed here. Separate tabs are provided for margin trades, fiat transactions, contracts, Huobi Earn orders, bot transactions, and credit agreements.
Personal Cabinet. The menu of the personal cabinet itself is designed to manage the user’s account. Here you can set up the account security, verify the identity of the client, set up additional settings for transactions, notifications, blacklist counterparties and link bank cards to the account. Here you can also find the menu of commissions currently available to the trader, sections for managing the referral program, the use of coupons and sub-accounts linked to the main account.
Sections of the personal account are logically structured, so mastering them will not be too difficult for a newcomer, but the overall picture is slightly spoiled by the localization.