Is there anyone who still entrusts his crypto to Chinese exchanges? If there are such people, they should be barred from the crypto community indefinitely. Just kidding, but really, if you know some enthusiast who keeps on trading on a dump platform like Huobi Global, please do your best to convince him to migrate to another platform or he will lose his money sooner rather than later.
August 17, 2021
The National Securities Market Commission in Spain issued warnings on 12 entities for not being registered for investment services. Regulators around the world continue to keep the pressure fresh on crypto businesses. Spain’s National Securities Market Commission (CNMV) is the latest to issue a warning on several crypto- and financial market-related businesses for unregistered services. According to the official document, CNMV has issued warnings on 12 entities on Aug. 16 for not being registered in the corresponding registry of the commission. The listed entities, which include major crypto trading platforms such as Huobi and Bybit, are not authorized to provide investment services within Spain.
August 5, 2021
I have had a neutral stance on Chinese cryptocurrency exchanges in the past, but now, when the Chinese authoritarian government is starting a beef with the crypto community again, I reckon that it would be wise to opt for the trading platforms from Singapore or even some offshore zones. Right now, it is too risky to trust the platforms that could be shut down in an instant with your money.
July 29, 2021
Huobi's move follows a similar decision by crypto exchange OKEx, which resolved to dissolve its China-based entity in late June. Stakeholders in the Chinese firm that was founded to operate cryptocurrency exchange Huobi have resolved to dissolve the entity, according to publicly available records. The firm, Beijing Huobi Tianxia Network Technology Ltd., was established in late 2013 and is 70.52% owned by Li Lin, the founder and CEO of Huobi Group. It has 10 million yuan ($1 million) in registered capital and a total of five subsidiaries. Having passed the resolution in favor of dissolution on July 22, stakeholders will now proceed to deregister Beijing Huobi Tianxia within 45 days. Creditors are requested to declare their claims to the liquidation team, headed by Li, within the same time frame. “This is an entity that Huobi has registered in Beijing years ago, in the early stages of development," Huobi told Cointelegraph: "Because this entity has not had any business operations, it is unnecessary and has applied for cancellation.” As of the time of writing, the share price of Huboi Technology Ltd., also owned by Li and is a subsidiary of Huobi Group, has fallen by 21.88% during trading hours on July 27. Publicly available records also reveal that OKEx — which, like Huobi, relocated overseas following Beijing’s 2017 crackdown on crypto — also resolved to dissolve a China-based entity called Beijing Lekuda Network Technology Co., Ltd. on June 24. OKEx founder Mingxing Xu, also known as Star Xu, will oversee the liquidation and clearing process for the company. The dissolution of both entities comes amid a renewed period of government pressure on the cryptocurrency industry, with targets including its social media and internet presence, as well as mining sites. Bobby Lee, who operated China’s first crypto exchange BTCChina, recently voiced his fears that within 4 or 5 years, Beijing may make a move to ban cryptocurrency outright. In parallel, the development of a centralized, central-bank-issued digital yuan, the e-CNY, proceeds apace, as an explicit state rival to decentralized cryptocurrencies.
July 5, 2021
Huobi Global has introduced a 24-hour token withdrawal delay for all over-the-counter (OTC) trades. The decision strikes a blow to all Huobi users, some of whom will moreover be prevented from withdrawing their tokens for as long as 36 hours if the exchange's assessment system judges them to be at particularly high risk. Huobi has said the move forms part of its attempt to “gradually introduce a number of risk control strategies encompassing a larger section of users." It adds that it expects the delay to "effectively avoid user losses caused by the inflow of risky funds and protect the safety of users' assets." Notably, Huobi had been implementing a narrower version of this measure since August last year, when it first imposed a token withdrawal delay of up to 36 hours on specific, higher-risk users. The new, more comprehensive initiative seems to align squarely with Beijing's ongoing and multi-pronged crackdown on the country's cryptocurrency investors, which has recently targeted the mining sector, banking services and crypto's online footprint. In response to these restrictions, a large volume of crypto trading in the country has shifted to the OTC market, which is relatively unregulated and ensures that the transfer of fiat currency does not take place directly on exchanges' trading desks. High levels of activity on the OTC market during regulatory clampdowns are an established pattern in China: back in 2017, when Beijing first took action against crypto exchanges, investors had similarly adapted by making the shift to OTC trades. Huobi itself first rolled out its OTC service in Nov. 2017 amid a series of ever-tighter restrictions on crypto trading in the country.
June 22, 2021
I have come across some negative feedback about Huobi Global regarding the fact that the provider is domiciled in China, the support ignores the non-Chinese users and such. I wouldn't argue that these instances couldn't have occurred, but judging from my experience as a trader on Huobi Global, the exchange works seamlessly. In two years, I haven't come across any signs of incompetence, system malfunctions or withdrawal hiccups. So, when reading the complaints about Huobi Global, remember that there are many people who are satisfied with this exchange.
May 3, 2021
Please forgive me if I might seem bias, but I think that a non-Chinese trader should steer clear of cryptocurrency exchanges like Huobi Global. The reason lies not in its functionality or liquidity. It lies in the fact that Huobi Global operates in the Beijing jurisdiction. I wouldn't want to become collateral damage in case the Chinese authorities decide to pressurize local cryptocurrency exchanges into some actions that would hurt me as a trader. And we all know that the possibility of that is quite high.
April 10, 2021
I don't know if it just me, or does it happens to many people, but the support team of Huobi Global is as ignorant towards me as it gets. I have been trying to reach them for days regarding problems with the ETH withdrawal from my account, but just got the usual, "We'll get back to you as soon as possible with a solution." It took them ages to resolve this issue and reply to me. I suspect that there is some kind of discrimination of non-Asian users is going on at Huobi Global, though I wouldn't want to spread conspiracy theories.
February 25, 2021
I honestly can't figure out what people do to the Huobi Global support team that forces them to "ignore" their tickets or whatever. In my two years of trading on that platform, I have never encountered any problems with the support team, withdrawals, network freeze-up, etc. Everything always works smoothly and accurately as a Swiss watch. I reckon that the negativity comes from the loud-mouthed guys who just need some attention.
January 16, 2021
I have been using Huobi during a certain period of my trading career, and I can say with all certainty that is was an exceptional experience. I had a couple of instances when the platform interface had unexpectedly defaulted to the Chinese language, which was a bit annoying. The range of crypto assets and tradable pairs is quite broad with 88 pairs for ETH alone, and more than 280 listed currencies. I saw the rumors circling around about Huobi being allegedly involved in wash trading, but that would be its only flaw.
November 12, 2020
I have read somewhere that Huobi Global has been under investigation from the Japanese financial authorities. This news popped up a couple of months ago, but there haven't been any public announcements regarding the proceedings since. So, I wonder how's that going to be settled. Personally, I am not particularly fond of Huobi Global, mainly because of the high trading fees. Why pay 0.2% of the total transaction value, if I can get a much better deal on Binance? I guess, the question in rhetoric.
July 10, 2019
Huobi cryptocurrency exchange is not the most flexible, but one of the most convenient tools to date. Statistics show that the volume of transactions on this exchange is one of the largest in the world, which means that your orders will be closed as quickly as possible. The exchange offers a user-friendly interface, mobile applications for all of the existing platforms, support for API functionality.
* Crypto Rating accepts no liability for content of the Huobi Global reviews made by the site users. The entire responsibility for the contents rests with the authors.
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.