Trading on the cryptocurrency exchange Huobi

Crypto Exchange Huobi (go online) offers several types of trading and other tools for traders.

Spot trading

The Huobi platform supports spot trading. One of 6 order types can be used on the trading terminal. Available for placement are Limit, Market, Trigger, Extended Limit orders as well as Sliding and Stop-Limit. Extended Limit and Sliding variants work only with API. To place an order, you need to go to the “Exchange” section of the crypto exchanges.

Limit

This order means that the trader specifies the size and the maximum bid price or the minimum ask price. The order is executed when the value is in the range specified by the user. The price to purchase such an order is set no higher than 110% of the last value. The sale price is not set lower than 90% from the last value.

Top 5 best cryptocurrency exchanges

Market

Such an order is used when a trader immediately buys or sells cryptocurrency at the current price. They are not executed at prices higher or lower by 10%. Outside such a range, orders are cancelled automatically.

Stop-Limit

Such an order is used on Huobi if a trader needs to set an order trigger price and size. When the price reaches the trigger price, the service publishes the order at the maximum price and size automatically. This helps to keep profits or reduce losses. The purchase price should not exceed 110% of the trigger price, and the sale price should not be less than 90% of that amount.

Trigger

When placing such an order, the trader determines the triggering price and size of the order. When the market price reaches the trigger price level, the order is placed at the price and size set by the trader. Triggers support Limit and Market orders. These features of Huobi can be used for spot trading and leveraged trading. The amount that corresponds to the order is not frozen until the trigger is triggered, but after the execution, the assets are reserved. Not all triggers need to be triggered. Due to balance price, network error, removal of currency from the list the order may not be executed.

Also, not all triggers can be executed after triggering. If the price rises or falls sharply during market volatility, the order initiated by the trigger may not work. For the limit option, the trigger is executed at the limit price that has been set by the trader. If the purchase amount is less than the current price or the sale price is greater than the current price, the trade will be executed at the market price. For Market, triggers are executed at the market price and size that have been set by the trader.

Advanced Limit

There are 3 options for ordering Limit on Huobi:

• Maker.
• Execute or cancel.
• Execute instantly and cancel the remainder.

If no option is selected, the order will be valid by default. The “Maker” format is not immediately executed. If the order is executed by another order, it will be canceled so that the user remains a maker. In the second case, the order is either executed immediately or canceled if there is no suitable offer. Partial execution is available for the “Execute Immediately and Cancel Balance” format. The remaining amount is returned to the trader.

Sliding

Such orders refer to the strategy of sending the order, which was set earlier, in case of a significant market correction. If the value of the contract suits the triggering and correction conditions, the strategy will be activated to place a Limit order at the price determined by the user. The main scenarios are to buy when the value reaches a support level and bounces back or to sell when the price reaches a resistance level and declines. One of the conditions that determines the triggering of such a strategy is its price. To buy it requires that the trigger price is less than the last value. To sell, it is necessary that the triggering price is greater than the last price. The correction is from 0 to 5%.

Call auction

A call auction tool is available on Huobi. It is used when traders place buy/sell orders at specific prices, which are later aggregated and matched after certain periods of time. The purpose of such a feature is to allow participants to place orders at specific prices before a new coin becomes available or until prices for new pairs are generated.

The operation processing system determines the opening price. This is done by prioritizing orders using prices and placement times under several conditions:

• to maximize trading volume;
• the execution of all orders to buy at a price above or to sell at a price below the benchmark;
• execution of buy or sell orders at the benchmark price.

This price is defined as the call price and is shown to all. In an auction, the price is formed automatically. The call auction includes 2 sessions:

• placement and exchange are permitted;
• only accommodation is allowed.

Quick Buy

Huobi has a quick buy feature. On the company’s website, there is a menu item “Fiat” in which the “Quick Buy-Sell” page is available. Going to it, you can see a form for an application. There you select whether you want to buy, sell or convert. In suggested fields you should specify fiat or cryptocurrency, which will be used for transaction. After specifying all the data, it is necessary to confirm the transaction. When the transaction is completed, the user can go to “View my asset” to check the balance.

Huobi P2P

P2P – a platform for buying and selling assets directly from other users. The exchange does not charge users of this platform a commission. This makes it possible to set lower prices. On the company’s website, you can find all the offers to buy and sell with the price, available maximum amount and payment methods. You can use filters by currency, payment method, and total amount to quickly find an offer. You can also view a list of verified sellers and recent transactions. For beginners, a video tutorial is available, which can be opened by clicking on the special button on the top right of the form.

Now there are up to 59 different payment methods available on the site. The support service is available 24/7, so you can ask a question or address a problem to the crypto-exchange staff at any time. The platform automatically scans every transaction to detect suspicious transactions. Certified advertiser verification and facial recognition are provided for increased security.

Huobi Loan

Huobi Loan is an exchange platform for loan origination. It allows you to borrow assets to meet your trading needs. To use this service, the account must be verified. Several digital assets can now be borrowed, including BTC, ETH, USDT. Different cryptocurrencies can also be used as collateral. Loans are available for a period of 30 to 90 days. Repayment can be made at any time. Interest is charged based on the hours the funds are used. If the loan was taken for a period of less than an hour, interest is calculated per 1 hour. The rate per day is shown on the service’s display page. Hourly commission = commission rate per day / 24.

Interest is the borrowed assets x commission rate x duration of the loan. You can repay the loan amount and interest on the order page. The service allows a delay of 1 week. During this period, interest is charged at 3 times the normal rate. If at the end of this term the payment is not repaid, there will be a forced liquidation. Borrowed funds can be used for spot, margin and futures trading.

To take a cryptocurrency, you have to enter the site and click on “Finance – Crypto Loans”. The next step is to do the following:

• Select the asset to be borrowed and specify the amount.
• Choose a collateral currency.
• Specify the term of the loan.
• Accept the rules of the loan agreement, confirm the interest rate and the amount to be repaid. Click on the “Borrow Now” button and go to the order page.

To see the details of all loans, you must log in and go to “Orders – Loans” in the menu. The page that opens will display information on all items. To repay a loan, after logging into your Huobi account, select “Orders – Loans” and go to the loan details page. Next steps:

• Select “Extinguish”.
• Click on “100%” or enter the full amount.
• Click on “Confirm”.
• It is necessary to make sure that the account has enough assets to repay the interest and the loan amount. After repayment, the amount of the deposit will be credited to the balance of the trader.

There is a function of liquidation of the order by the user. To use it, you must enter the loan details page and select “Manual liquidation”. After activation, the collateral assets that were frozen for the warrant are sold for market value to repay the amount of debt and accrued interest. The balance will be credited to the user’s account. The exchange gives you the opportunity to make loans for subaccounts. To do this, go to “Subaccount” in the menu and do the following:

• Create an account by entering the name and verification code of the main account.
• Click “Login Setup”, set your password, enter your primary account code, and connect to Google Authenticator.
• Click on “Trading Permissions” to activate getting cryptocurrencies for subaccounts.

Such accounts cannot apply for credits until the main account is activated. If a user participates in cryptoexchange activity with main and subaccounts, remuneration will be credited based on total results. It will be allocated to the main accounts of traders. Sub-accounts cannot take part in activities on their own. Loans can be extended if desired. To do this in the “Loans” section it is necessary to do the following:

• Go to the page with details about the loan.
• Click on “Renew” and “Confirm”.

A period of 48 hours before the maturity date is available to extend the loan. If extended, interest and fees will accrue and the loan will be renewed according to the extension period. Overdue loans cannot be renewed.

Margin Trading

Huobi offers trading with margin collateral. This option makes it possible to borrow against their assets and use large amounts to buy/sell cryptoassets. The company’s website has a “Spot Trading” section, where the “Margin” tab is available. It opens the terminal, where you can choose the trading option (automatic borrowing, auto-return after execution of the transaction or manual borrowing and return). You must also select the type of order and create it.

ETP

Huobi offers Exchange Trade. It is a leveraged exchange product that multiplies profits by doubling assets. Unlike margin trading, traders do not need collateral. There is also no liquidation. The management fee is 0.035% per day, and the transaction fee is similar to spot trading fees.

Trading bots

The service offers the creation of bots that can automatically sell and buy cryptocurrency, taking into account price changes around the clock. For customization it is available to automatically fill in the parameters. It is based on the data of weekly testing of the selected pair. You can also enter the characteristics yourself, specifying the prices (high and low) and the quantity. In addition, you can enter the trigger price, stop loss and take profit if you want. Under the charts and settings form the history of running and closed bots is available.

OTC

Huobi has developed the Brokerage OTC department, which provides automated liquidity/trading solutions to institutions and experienced traders who trade large amounts using the company’s network of counterparties and new technology. The benefits of this cooperation option include:

• High level of security. For this, the service fulfills the requirements of AML in accordance with the laws of Hong Kong.
• No transaction fee.
• Real-time and post-calculated market quotation.
• Global liquidity coverage to offer favorable prices.
• Support for block trading between major cryptocurrencies, stabelcoins and fiat.
• Support for voice trading, GUI, API, etc.
• Experienced real-time customer support team, personalized service.

The OTC trading process includes several stages:

• Quick registration procedure with the support of a Brokerage account manager.
• The use of online and offline quotes in real time.
• Placing orders via GUI/API or dedicated chat.
• Same day delivery, the process is automated for online trading.

Futures

For futures trading, there is a site called futures.huobi.com. This site has information about contracts, options, a link to the community and a trading guide. It also publishes news and information about various derivatives. There are links to the mobile app and the web version.

Steaking

The exchange offers to receive rewards for storing cryptocurrency. The “Stacking” page has information about all offers with the name of the coin and yield. Each offer has its own conditions, which you can read on the page with detailed information. Only verified traders can use this service.

Bicurrency investments

Huobi offers users bicurrency investments. It is a secure savings product with high yield and includes USDT and other assets. It has a feature that reduces product risk in exchange for low returns. Features of the offering include:

• Individual settings. You can manage purchase amounts, expiration dates, prices.
• Withdrawal feature. You can add a recall price to reduce risk in exchange for a lower yield.
• Passive income. The product gives you the opportunity to instantly generate income.
• No subscription period. You don’t have to wait for an active period like other savings products.

In the “Bicurrency Investments” section of the Exchange website, there is a list of all offers. Each of them has basic data and a “Buy Now” button.