Huobi was created in China but is now based in Seychelles with offices in Asia and US. They are among the top 10 cryptocurrency exchanges in rating (courtesy of CoinMarketcap). It’s a long-running crypto exchange that was launched back in the year of 2013.
They are a centralized exchange (CEX) that supports initial coin offering (ICO) and offers its users a lot of access to a wide range of crypto tokens.
Now, we are here to find out whether it’s easy or not to buy your cryptocurrency.
1. Download the Huobi App
You can download the app from either Google Play or the Apple store.
2. Create an account
You can sign up either using an e-mail or a mobile phone number. Any of these methods will require an OTP or one-time pin during the registration process.
3. Set a password
Keep in mind the password requirements.
- It should be at least 8 characters
- Consist of digits, letters or special characters
4. Complete KYC verification
You must complete and pass the account verification before funding your account.
By ensuring that the institution can stop someone from engaging in illegal financial transactions, KYC verification and related procedures aid financial institutions in combating money laundering.
On the main page, Tap on Unverified at the top right corner.
5. Type of permission and Verifications
On this page, you can select different permissions depending on the feature you want to use. If you are going to deposit using your debit/credit card, then you should complete the Level 2 verification.
Here are different types of permissions/verifications. You can reach Level 3 to enjoy full access to the Huobi app.
- Level 1 Basic Permissions – You can trade and deposit cryptos such as BTC and ETH.
- Level 2 Basic Verification – You can fund your account using a Debit or Credit card, and it also comes with a 24-hour withdrawal limit equivalent to 200BTC. You are required to upload your government-issued id.
- Level 3 Advanced Verification – with a higher withdrawal limit of 3000BTC. You are required to upload a selfie for this step.
6. ID Verification – Level 1
Complete all these required fields Nationality, Country of Residence, Last name, First name and Birthday.
Make sure it matches the Identification document you will upload later.
Once done, a prompt will pop up saying that your account passed the Basic verification.
7. Complete level 2 verification
Return to ID verification and tap the “Verify” button for Level 2.
You can either upload or take a picture of your ID card, Passport and Driver’s license.
It would take around 5 minutes to finish reviewing your documents.
8. Buy USDT using Fiat
You can buy USDT first to buy other crypto tokens such as BTC, ETC etc.
Go back to the main page and tap “Deposit now.”
There are three different ways to fund your account, namely: Quick Trade, P2P and Deposit (crypto)
In this walkthrough, we will try Quick Trade instead, as it’s more beginner friendly.
9. Buy USDT under Quick Trade
On the Quick Trade deposit method, enter the amount in USD. Remember that the minimum amount is 10 USD, and the maximum is 19,800 USD.
We will buy 10 USD worth of USDT this time using a credit card.
10. Link your credit/debit card
To avoid transaction delays, complete all the required information and ensure it matches your card details. Tap confirm once you have filled out everything.
The system will deduct a small amount from your card to check its authenticity. The amount will be returned to you after the verification is completed. Follow the prompts until you successfully link your card.
You can check your assets page and balance like any other exchange.
Whether it’s Quick Trade, P2P or Deposit (Crypto), they should all reflect in real-time without delays.
12. Start Trading!
You may use your USDT to buy other tokens through the “Markets” page.
Frequently Asked Questions
Here are some FAQs that might help during your trading journey.
1. Is Huobi good for you?
Huobi Global provides deep and enough liquidity to the top 10 crypto trading pairs, including BTC/USDT and ETH/USDT.
They offer lots of different earning opportunities. You can deposit funds and earn 2x and 3x higher.
2. Which country owns Huobi?
The company is based in Seychelles, but it was first founded in China. They have different branches across the globe, particularly in HK, The US, Japan and South Korea.
3. What countries can use Huobi?
Huobi supports global clients and has physical offices or operation centres, mainly in Asia and other countries.
4. How much is the minimum deposit on Huobi?
You can deposit a minimum of 100 USDT.
5. How long does it take to withdraw in Huobi?
The withdrawal process can be completed within 24 hours, but it may also vary depending on your chosen bank.