Huobi is a crypto exchange founded in 2013 by Leon Li. Born in China but based in Seychelles, the exchange has offices across Asia and the U.S.
Before establishing the trading platform, Li worked as a computer engineer for Oracle. Huobi received angel investments in 2013 and subsequently raised $10 million from Sequoia Capital. Shortly after that, the company bought the Bitcoin wallet provider Quick Wallet.
When the Chinese government announced in 2017 that it would ban Bitcoin exchanges and ICOs, Huobi moved its headquarters to Seoul. The following year, Huobi became a publicly listed company in Hong Kong. The company’s strategic partner in the U.S. is HBUS, the digital asset trading platform launched in July 2018, which has headquarters in California.
What Does Huobi Global Specialize In?
Huobi is one of the world’s biggest crypto platforms in terms of trading volume. Beyond BTC and ETH, it lists more than 190 currency pairs.
No deposit or withdrawal fees are charged by the platform, and discounted trading fees are available through a VIP membership program.
The largest amount any user can withdraw from a verified Huobi account per day is 200 BTC, while minimum and maximum trade limits also apply.
Given how Huobi launched in 2013, it is one of the oldest crypto exchanges left standing following the shock collapse of Mt. Gox in 2014.
Supporters of Huobi point to how the exchange has been able to adapt to changing circumstances, such as when it moved rapidly in response to tough new regulations in China.
The Huobi Global Coin (HT)
The Huobi token is HT — based on the Ethereum ERC-20 standard. This token enables users to reduce their trading fees, participate in initial exchange offerings, and cast their vote in governance decisions regarding the future direction of the platform.
HT has a maximum supply of 500 million — and when it launched in January 2018, about 40% was reserved for operating the platform as well as developing team incentives and user rewards.
When the token was launched, Huobi said it was “not an ICO.” As an alternative, HT was sold at discounted rates whenever someone purchased a service fee package on Huobi Pro. There are just over 200 million HT in circulation.
What Bonuses Is Huobi Global Known For?
Huobi Global offers HT owners perks including fee discounts, governance rights and access to IEOs. A fund has also been established as an insurance policy against hacks and thefts.
Separate services have been established that are tailored toward institutions and firms, and the company has also become a market leader in margin trading over the years.