Huobi Global is this a scam? Reviews and description

In our review, we will take a closer look at the features implemented by the project and find out whether Huobi Global is a scam or a reliable platform for trading cryptocurrency.

Why Huobi Global?

Huobi Global is an established exchange that appeared on the financial market in May 2013. The platform's interface huobi.io The company has been translated into 12 languages, including Russian, indicating its focus on the international market. The main office of the company is located in Singapore, from where the project is regulated.

The organization provides its clients with comfortable and favorable conditions for cooperation. Traders have the opportunity to work with more than 200 cryptocurrency pairs, which in turn are divided into three main markets - VTS, ETN and USDT (How to make money on cryptocurrency?). The platform's listing includes the most in-demand cryptocurrencies combined with little-known forks. The exchange also has its own HT Huobi Token, which allows users to get a discount on any type of commission on the platform. What's more, customers get to vote to make important decisions. The website features a blog with informative articles regarding the latest news of the company. All the information is presented in English. For beginners, there is also a detailed guide that contains instructions.

The trading terminal has a good functionality and allows clients to build different charts, use options to customize them, choose time intervals. Also technical indicators can be found in the platform. Clients have an opportunity to place market and limit deals.

The page of the trading terminal itself is conditionally divided into several parts:

• On the left, the client can find the main markets. Also the cryptocurrency rate can be switched to the Russian ruble, which is very convenient.
• In the middle there is a chart of the price movement for the asset, as well as displaying the tools and indicators available for trading. It is possible to select the interval of price movement and change the screen type to the extended version.
• On the right side you can find the stacks of trades to buy and sell cryptocurrencies (cryptocurrency trading strategies).
• Above the graph is a numerical change in the value of the price for the asset.

For those customers who are often on the road or do not have the ability to access the platform via computer, a mobile version of the exchange has been created, as well as software for the computer, available on Windows and Mac. The mobile version can be downloaded for both Android and iOS systems.

Among the main advantages of the exchange Huobi Global can be distinguished:

• Active platform development.
• The presence of high-quality translation of the site into Russian.
• A professional blockchain asset valuation system.
• A special system of protection against DDoS attacks.
• 98% in cold purses.
• Service centers around the world.
• A mobile version of the app is available.

How to exchange cryptocurrency on the huobi.io platform?

To make a cryptocurrency exchange, you should perform the following actions:

• first it is necessary to choose the necessary pair from the options presented on the exchange;
• select the type of order;
• enter the desired amount of an asset;
• click on the purchase button.

Verification on the Huobi Global platform

Verification is optional on the project, but it affects the maximum amount a user can withdraw per day. So, an unverified client can withdraw up to 2,500 XRP in 24 hours, while a verified client can withdraw 4,000,000 XRP. To go to the verification process, you have to go to your profile and click on "Verification" in the menu. Then a form appears in front of the participant, in which it is necessary to specify the citizenship, passport number, driver's license or other legal document, name and surname, as well as to upload a photo of the informative page of the document. There are the following requirements for the image:

• The file must be in JPG or PNG format and not less than 5M in size;
• The information in the document, especially the document number, last name, first name and middle name, should be clearly visible and unchanged.

After verification, you will need to wait for a response from the organizers. On average, the process may take several days to several weeks.

Deposit and withdrawal

To make a deposit, you need to go to the site and click on the line "Deposits", and then from the drop-down list click on "Deposits and withdrawal". Then opposite to the necessary currency which the client wants to deposit, it is necessary to click on "Deposit". A page will open, where you should perform some simple actions:

• choose where you want to enter funds: a currency account or a margin account;
• copy the created address of the digital wallet, where the funds will be transferred.

This address will need to be entered in the "Recipient Address" column, from where the user wants to transfer funds.

Withdrawal of funds

To withdraw earnings from the exchange, you must on the same page "Deposit and withdrawal" opposite the desired cryptocurrency, click on "Withdrawal" and fill out the form that opens:

• specify the address of the wallet to which the money will be withdrawn;
• enter the required number of coins to withdraw;
• read the information about the fee and the final amount that will be received on the specified number of the purse;
• click the "Output" button.

Huobi Global Crypto Exchange Commission

The commission of the exchange depends directly on the currency used, as well as the trading volume. A taker often pays 0.1% of the transaction amount. Takers who close a trade pay a commission, which depends on the trading volume of the currency for the last month. If the user works with the dollar, the commission is formed as follows:

• > 50 BTC - 0.2%;
• 50 < BTC - 0.18%;
• 200 < BTC - 0.16%;
• 600 < BTC - 0.14%;
• 1500 < BTC - 0.12%;
• 5000 < BTC - 0.1%;
• 10,000 < BTC - 0.08%.

Withdrawal commission

When performing trading operations, customers are assigned a vip-level, which directly affects the commission for the withdrawal of funds:

• 0 level (0 points) - 0.5;
• Level 1 (10,000 points) - 0.45%;
• Level 2 (100,000 points) - 0.4%;
• Level 3 (300,000 points) - 0.38;.
• Level 4 (500,000 points) - 0.35%;
• Level 5 (1,000,000 points) - 0.3%;
• Level 6 (available only on a fee basis) - 0.3%.

Huobi Global Bonuses

For its customers, the company provides a bonus in the form of cashback, the essence of which is that the user invites new members to the project huobi.io. Cashback is returned to your account in USDT, points or HT. Cashback coefficient is 30%.

Complaints against Huobi Global

Since the exchange appeared on the Internet quite a long time ago, you can find on the Internet a considerable number of reviews from customers. In general, users are satisfied with the conditions provided by the platform for cooperation. Of the negative points, users note the difficult verification procedure. Also, customers note that if there are problems or malfunctions, technical support quickly responds to the message and solves the situation.

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Regulation of the crypto exchange huobi.io

Among crypto exchanges there are a large number of conscientious companies, as well as many scammers who cheat users. To protect yourself from cooperation with a scammer, you should check the license and appropriate documentation on the site. Let's consider in more detail how the project is regulated.

Regulator

On the site huobi.io there is no information that the company has a license. The organization is regulated by the laws of Singapore, where the headquarters of the project is located. Contact information of the organization is publicly available.

Documents from huobi.io:

• Read the "User Agreement" on the Huobi Global website (See);
• Read the "Privacy Policy" on the website of the exchange Huobi Global (See).

Huobi Global User Agreement

"User agreement" is the main document of the project, the rules of which should be read by every user before starting registration on the site. The agreement contains the main rules of cooperation, as well as the duties of clients and organizers. Let's consider some points in more detail.

It is stated at the beginning of the agreement that transactions with digital assets have extremely high risks and are not suitable for the vast majority of persons. The client must be aware of the fact that such investments can lead to partial or complete losses, therefore it is necessary to determine the amount of investment through the level of damage accepted. The Company does not bear any responsibility for possible losses of the user.

The information presented on the website is subject to change at any time without prior notice to customers. Also, the organizers do not guarantee the degree of accuracy of the information presented on the website and do not bear any losses directly or indirectly caused by messages on this website, inability to connect to the Internet, delay/failure in sending or receiving any notifications and messages.

The rules of the agreement are subject to change without prior notification to the customers. The organizers make the changes publicly available by announcing them on the website. The date of change will be marked on the first page of the amended agreement. The clients should constantly review and follow the time of updating and the content of this agreement.

The organizers reserve the right to correct, suspend or terminate the services of the website, and in case the services are changed or suspended, the client may not be notified in advance. If the client has not used the account and password to log in within one year, the company has the right to cancel it. After canceling the account, the corresponding user name becomes available for registration and use by others. The agreement also states that if the customer violates the agreement or other laws and regulations, the customer must compensate the company for a minimum of $2,000,000 and all expenses incurred in connection with the violation, including attorney's fees. If that amount is insufficient to compensate the actual damages, the user must pay them in full.

Traders should understand and accept the fact that the organization is not responsible for such factors:

• loss of income;
• transaction profit losses or contractual losses;
• interrupting operations;
• foreseeable monetary damages that can be reduced;
• loss of information;
• loss of opportunity, damage to commercial reputation or fame;
• damage or loss of data;
• the cost of substitute products or services purchased;
• any indirect, special or consequential loss or damage caused by breach of rights (including errors), breach of agreements or any other cause, regardless of whether the company could have foreseen such loss or damage.

The user understands and accepts that the organization shall not be liable for compensation of any damages caused by any of the following circumstances:

• there are serious violations of the law or violations of agreements in specific transactions;
• the user's actions on the site fall under suspicion of violating the law or not in accordance with standards of morality;
• costs and losses incurred in connection with the acquisition, receipt of any data or transactions through this platform;
• Misunderstandings by customers of the site's services;
• other losses related to the services provided by the site, which occurred through the fault of the organizer.

Customer Service

You can contact the support service by one of the suggested options:

• email: [email protected];
• online chat.

Also on the site you can find a separate page called "Help", where the customer can see the answers to the most popular questions.

Is Huobi Global a scam?

Huobi Global - an established exchange that appeared on the financial market in 2013. The service allows to carry out cryptocurrency trading. During this period, the platform has gained popularity among customers around the world and continues to evolve. The project is headquartered in Singapore, from where the site is regulated.

The platform offers its clients simple and favorable conditions for cooperation. Users have the opportunity to work with a large number of currency pairs, which are divided into three markets - BTC, ETH and USDT. The exchange is suitable for both experienced traders and beginners. For inexperienced users, there is a manual with detailed instructions. Trading is done through a platform with a simple and intuitive interface. The trading terminal has a wide functionality that allows clients to work with charts and technical indicators. Verification is available on the platform, but it is not required. The whole process takes from several days to several weeks.

There is also a referral program for users, which allows them to receive cashback from commissions. Thus, users can receive up to 30% from commissions. In order for customers to have constant access to the trading floor, a mobile version of the application was developed. Currently, both Android and iOS versions are available. The application is a convenient option for users who are often on the road or do not have the opportunity to log in from a computer or laptop.

Over the 6 years of the platform's operation, a large number of reviews from users have accumulated on the Internet. Most of the comments from customers are positive, so the company has a good reputation on the market. However, there are also disadvantages in the form of complicated verification. Having studied in detail the opportunities that the platform provides, is it possible to claim that Huobi Global is a scam and scammers. No, because the organization has long appeared on the market and has been providing its services to traders around the world for more than 6 years.

Conclusion

Huobi Global - exchange, which has been providing its services to users for a long time. The platform allows buying, selling, as well as margin trading in cryptocurrency. For 6 years of operation, the project has become popular among customers around the world. On the website, the user can find a large variety of tools and indicators that make trading more comfortable. However, before starting cooperation with the company, the client should carefully study the rules in order to be aware of possible risks. Now the platform looks good among the competitors. If you were or are a client of Huobi Global, leave your impressions about the company's work on our website to form an independent rating of cryptocurrency exchanges.