The aphorism, “money makes the world go round,” is not a blab. All over the world today, there are different platforms for trading stocks, forex, and even cryptocurrencies. With the cutting edge technological advancement and sharpened skills of the men and women who engineer the sector, we can safely say that the evolution of Finance had transcended the mean marks of the starting days of analog accounting when there were no digital cues.
Following the trends and tides, many trading platforms have come into the sector, each with its own unique product and service portfolio. This innovative variety has led to an inevitable rise in competition between diverse platforms. While some trading platforms manage to sail through the storm of the market, and some thrive, whereas some few others have risen high above the echelons of average to the top of the ladder. A well-known example is Huobi.
Huobi is a cryptocurrency exchange company based in Singapore. The company was founded in China and had various branches in the United States, Japan, Korea, and many other countries in the world. The company came into limelight in May 2013, when it hosted the huobi.com domain, and came into formal operation as a trading platform. Later that year, Huobi had a massive trading account, which rose to as much as five billion US dollars. Two years later, in 2016, the company outdid its past performance with a trading volume of over two hundred billion US dollars. This engraved the company’s name in the heart of the Global Cryptocurrency Industry. Since then, the company has made giant strides in cryptocurrency trading.
One apparent reason for the influx of patronage in Huobi is the customer satisfaction derived from unique and outstanding products and features the company offers to clients. Some of the products and services are as follows:
Instant Purchase and Sale of Cryptocurrency
The Huobi site allows clients to sell off and buy different cryptocurrencies and effect such purchases and sales instantly. The mind-blowing feature at the Huobi site, which stands them out, is the fact that the cryptocurrencies can be purchased at their real-time value. In other words, you can buy or sell the Cryptocurrency at the exact value (rate) at which it is sold at that very instant when you effect the trade. This allows clients to take advantage of the rise and fall to maximize profits. Also, customers are not required to make any deposits before they can actually trade on the platform. Thus, it is more or less a free trading platform.
Swap Currency Trade
At the Huobi site, different cryptocurrencies can be traded. The site offers Bitcoin, Litecoin, Ethereum, and a host of others. The unique feature here is that once Cryptocurrency can be paired up with another in a forex trade. This allows for the conversion of one cryptocurrency to another. For instance, you can convert your Bitcoin to Ethereum. By using your Bitcoin to purchase Ethereum without having to first change or convert your Bitcoin to fiat currency. Through this fantastic feature, Huobi offers clients a high level of suitability. Clients can take advantage of the function to quickly swap through different currencies and trade optimally using different currency pairs.
At Huobi the there is an option of membership readily available for any customer who wants to Take advantage of the membership facility. The membership levels are as follows:
- Advanced – This requires 5,000 Huobi EXP for sign up.
- Insider – This requires 10,000 Huobi EXP for sign up.
- Premier – This requires 30,000 Huobi EXP to sign up.
- Ambassador – This requires 150,000 Huobi EXP to sign up.
- Partner – This requires 500,000 Huobi EXP to sign up.
The various categories of membership offer different privileges by their ratings. They all come with a unique membership card. Members are entitled to extra services like market surveys and research conducted by the Huobi team, increased withdrawals, increased loan limits, an account manager, and free gifts on birthdays and festive periods. Customers with the intention of trading for an extended period would enjoy the Huobi platform better if they sign up for membership.
Credit Card Purchase
Huobi accepts deposits with Master Cards or Visa Cards. Prospective clients can use their credit cards to make deposits of Euros or Dollars into their accounts. Subsequently, these deposits can be used to buy cryptocurrencies on the Huobi site. This service offers customers multiple payment options, thus making it easy for them to trade.
Huobi has an Over the Counter (OTC) trading system called the Huobi OTC Desk for institutions that want to invest on the platform. The OTC desk allows for peer to peer transactions. In order not to boggle you, let’s take a look at the meaning of OTC and Peer to Peer, otherwise known as P2P.
What is the meaning of OTC?
OTC simply means Over the Counter. It is a system adopted to trade securities for companies not quoted on a formal stock exchange list. This pattern of trading utilizes a decentralized system where the trade is conducted via a broker’s network. To achieve this, Pink Sheets are and Over the Counter Bulletin Boards are used. Pink Sheets are issuing houses that stand as an intermediary between the unquoted institution and the Stock Exchange market.
What is the meaning of Peer to Peer?
Peer to peer lending simply connotes a simple chain transaction between a lender and a borrower without the involvement of a third party seeking to make a profit from the transaction. Peer-to-peer websites link borrowers to lenders directly.
At Huobi, the OTC desk is one of the unique services that are offered to users. The service is monitored by the Gibraltar Finance Service Commission. It makes it possible for an Over the Counter transaction to be carried out under the surveillance of the strict Financial Protocols. Hence you can be assured that you’re in safe hands. This service cures the disappointment experienced when trading on unsecured OTC platforms. The Senior Sales Manager of Huobi, Jeff Adams, has given several press statements in this regard. In one such statement, he announced that the Huobi team is dedicated to making sure that customer aspirations are met. He said the company had launched the OTC Desk with the following currency pairs: Bitcoin, Great British Pounds, US Dollars, Ethereum, and Euro.
Huobi Features the new Huobi DMs
The Huobi DM is a future contract service managed by the Huobi platform. The feature was introduced to allow users to save up profits realized from the exchange, in the form of Huobi DMs. According to this innovative move, users can now generate more profits from the increase and decrease in the value of digital currencies by either selling long or short.
Again, the Huobi DMs offer contracts valued in USD and, of course, other cryptocurrencies as the market margin opens to positions. It is essential to bear in mind as you trade, that difference that every currency has a different contract face value.
Also, the Huobi DMs give periodic contracts i.e., quarterly, bi-weekly, and weekly. Weekly contracts are typically settled on immediate Fridays. Bi-weekly contracts are settled on the following Friday. Quarterly contracts are settled on the last Friday of every March, June, September, and December, respectively. Note that delivery dates are not identical but based in Singaporean time (GMT+8).
After the selection of the trading period, users should pick leverage before opening positions. The leverage options are 1×, 5×, 10×, and 20×. Note that the leverages of different periodic contracts must be identical. You cannot use one leverage for a weekly contract and use different leverage for a bi-weekly contract.
The Huobi team has an unquestionable mark of excellence, and if you ask me, they’re one of the best, you can get in the crypto industry. I my self using Huobi from its inception and there are some great coins listed for buy and sell. Their facilities and services are engineered to make sure your time at trading is a profitable experience. Try Huobi today! Remember, Money makes the world go round.
I am done here. Now it’s your turn: Which other exchanges are you using? What is your experience with Huobi? Let me know in the comments below. Also if you need any help on the Huobi, then join Huobi India Telegram Community.
- How To Use Uniswap: Step –By-Step Guide - September 20, 2020
- Decentralized Finance – An Emerging Financial Revolution - September 1, 2020
- Huobi Exchange Review- Huobi’s Spot; Trading Products and Features - April 6, 2020