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What is Huobi Exchange?
Huobi Exchange is one of the oldest crypto exchange websites in the world. Casino players and crypto traders can use this platform to purchase and trade crypto using fiat currencies or other cryptocurrencies. This trading platform originated all the way back in 2013 and has since become one of the most popular and liquid crypto exchanges in the world.
Huobi supports over 400 cryptocurrencies, offers advanced crypto trading features for investors and crypto enthusiasts, and has tight security and, most importantly, decent trading fees.
Being safe and having small fees are already great qualities for a reliable exchange, however, casino players may want to wait a little bit before diving head first. While there’s absolutely nothing wrong with creating a Huobi account, buying crypto, and visiting a casino afterward, most casino players won’t really benefit a lot from everything Huobi has to offer.
Unlike many other crypto exchanges out there, Huobi is catered more toward advanced crypto users than beginners. If you are already a crypto enthusiast who likes online casinos then, by all means, go and enjoy Huobi.
If you are, however, just starting out with crypto and need a simple way to exchange your dollars/euros, Huobi might just be a bit intimidating for you.
Huobi Company Overview
Huobi originated in Mainland China back in 2013. Originally, the company’s main goal was to become one of the biggest crypto trading platforms in China only. Unfortunately, when the Chinese ban on trading cryptocurrency came into effect, Huobi had to adapt. Huobi relocated to Seychelles in 2017 and has since then opened its doors to many other countries around the world.
The move to Seychelles also caused some problems for the company. Mainly, in 2019, the company was accused of wash trading (stating that they have a larger trading volume than the actual amount in order to appease investors). They also adopted new policies that don’t necessarily comply with crypto trading jurisdictions around the world (especially not with the USA). Because of this, in 2019, Huobi stopped offering its services to USA customers directly (USA customers can still use an alternative platform as a middleman for trading between Huobi).
Despite all this, Huobi still manages to be very popular with crypto traders. The company allegedly has a 20,000 BTC security reserve. Huobi is also one of the few crypto exchanges that have never been hacked.
Huobi Pros and Cons
- Not suitable for beginners
- The company was accused of wash trading in 2019
- Unavailable directly in the USA
Using Huobi in Online Casinos
If you just want to buy some crypto so you can visit your very first online casino, Huobi may not be the best choice for you. While it can definitely do everything we just mentioned, most casino players would probably end up confused and intimidated.
With that said, casino players who are more tech-savvy and understand how crypto exchanges work say this is one of the best trading platforms for crypto trading and investing. If you happen to own some crypto yourself and with to stake or invest it into a different type of coin, Huobi is a fantastic choice. Their fees are competitive, the trading tools and features they offer are nothing to sneeze at and they have a reputation for being very secure.
In the end, it all comes down to how comfortable you are with crypto trading. If this is the first time you are trying to buy Bitcoin, then we recommend picking a simpler crypto exchange. Otherwise, Huobi can give you some really advanced features that can go a long way when buying crypto for your next visit to the casino.
Huobi Accepted Cryptocurrencies
There’s a good chance that Huobi has every cryptocurrency you could possibly need for any online casino you’ve chosen. With over 400 different cryptocurrencies accepted, there’s a good chance that whichever one you need is already available at Huobi. And just like many big crypto exchanges, Huobi also has its own cryptocurrency called Huobi Token.
Out of the many cryptocurrencies accepted, casino players can find some of the most common ones like:
Users who wish to take full advantage of what Huobi has to offer should invest in Huobi Tokens since those will unlock a lot of features (including lower trading fees).
Huobi does not have a downloadable PC application. Instead, users are able to access all of the platform’s features by simply logging into their account via any PC browser. Using the PC browser version of the website, users can buy, sell, trade, invest and use lots of other advanced trading features.
Many casino players claim that they have the Huobi page open on a different browser tap as they are playing casino games on the other. Overall, the PC app is great for casino players who mainly play on their home PCs.
For mobile casino players and crypto users who like to trade on the go, there is a mobile app available on both Android and IOS. The Huobi mobile app is a handy tool that can do everything that the pc browser version can. It also comes with standard mobile-only security features, such as face-id recognition, touch ID, two-factor authentication, and others.
Many casino players also prefer the mobile version over the PC version since they are able to scan the QR codes of casino wallets for quick crypto deposits and withdrawals.
If you prefer to keep your crypto wallets on the go, the Huobi mobile app is a great option for keeping and trading your crypto.
When playing at crypto casinos having a safe and secure crypto exchange can be invaluable, the last thing any casino player wants to hear is that their crypto exchange of choice has been hacked and that they have to wait a few weeks before the company reimburses them.
Something that a lot of crypto exchanges struggle with is keeping their funds secure. Almost every major crypto exchange platform has been hacked at least once in its lifespan. While we can’t say that Huobi will never get hacked, we can say that, as of writing this, Huobi has never been hacked. This is even more surprising when you consider how long this exchange has been around.
Even if Huobi should ever be the victim of a hacker attack, most of their funds are being kept in several cold storage wallets, so hackers won’t have much to steal even if they do breach their defenses.
The standard Huobi trading fees for most transactions are 0.2%. This is a pretty standard fee when compared to other exchange platforms. If you apply for a professional trader account the maker fee starts at 0.0.362% and goes down the more you trade.
Most casino players are probably going to be stuck with the 0.2% trading fee, which isn’t too bad even though there are exchanges that offer lower fees.
With that said, Huobi is known to offer lots of rewards and promotional events for loyal users. Users who invest in Huobi Tokens can gain Huobi XP and unlock lots of features that may reduce fees, offer cashback on trading fees, and many other pleasant surprises.
Huobi Customer Support
Huobi offers an extensive FAQ, email support, and live chat support to all its users. It does not offer direct phone support. Even though Huobi customer support has a lot of negative user reviews, many of those are users complaining about specific features of various unsafe coins.
During our time investigating this exchange, the customer support was kind and professional. Unlike many exchanges that don’t even have live chat support, we are thankful that Huobi customer support was so helpful and responsive.
What users like
Huobi users (especially casino players) like how many cryptocurrencies are available on this trading platform. Casino players are also generally satisfied with the standard trading fees. Even though the company has been accused of doing fraudulent activities after its move to Seychelles, most of the loyal user base claim that they have never had any major problems with the platform.
Advanced crypto users also enjoy the intuitive mobile trading app which offers everything that most cryptocurrency exchange sites only offer on the PC version of their platforms.
What users dislike
Users dislike how complicated Huobi Global exchange is. Even though Huobi advertises itself as an advanced crypto trading platform, many crypto beginners find their way to the platform and end up confused because of all the extra tools and features.
Normally, supporting over 400 cryptocurrencies is seen as a good feature, but this can also be a double-edged sword. Some cryptocurrencies die soon after coming out and Huobi has been known to host and drop support for many such currencies in the past. This has left a lot of unhappy investors with useless (worthless) cryptocurrencies that they spent a lot of money on.
A quick search for Huobi Global Exchange Review reveals that a lot of users have had a bad experience with this practice. While this isn’t an issue with the platform itself, it has led to a lot of Huobi users leaving negative feedback for the platform on various review sites.
Huobi Review Summary
Huobi is great for casino players who also happen to be into crypto trading in general. It offers a staggering amount of cryptocurrencies available while also having decent fees. Casino players who like to gamble their crypto trading gains can feel right at home with the Huobi exchange.
On the other hand, Huobi really isn’t the best choice for users who are just getting into crypto casinos. While there is nothing technically wrong with the platform, many might be left confused with all the bells and whistles that Huobi offers. Depending on how acquainted with crypto trading you are, you will either love or hate Huobi.
Thank you for reading our Huobi Exchange review. We hope that we have helped you in making your decision about this trading platform!
Is Huobi safe?
Yes, Huobi is extremely safe. The platform has existed since 2013 and is one of the few crypto trading platforms that has never been hacked.
Is Huobi good for online casinos?
Huobi is great for casino players who are also into crypto trading because of all the advanced features it offers. Those not familiar with crypto trading may be confused with the trading interface because of all the extra tools and features.
Is Huobi available in my country/region?
Huobi is generally available worldwide, however, there are countries that aren’t allowed to deposit and buy crypto using credit cards. Such countries can use an alternative trading platform and send funds to their Huobi accounts.
This is also the only way how USA citizens can use the Huobi platform.
How to withdraw money from Huobi?
If you are not on the restricted list for depositing and withdrawing funds, you can simply use your credit card or bank account to withdraw funds from your Huobi account. Alternatively, you can also withdraw funds to your casino account, withdraw them from an ATM using a Huobi debit card or simply buy digital goods.
Which exchange is better than Huobi?
Huobi is more suited for professional traders and can leave many new users confused or disoriented. If you are just starting out with Huobi, we recommend you use Binance or Coinbase as those platforms are incredibly easy to use for beginners
Can I get scammed on Huobi?
Just like with anything involving cryptocurrency, there is a chance to get scammed. While the Huobi trading platform itself will not scam you, the platform does allow users to invest into cryptocurrencies that may end up being scams. Make sure you are aware of the risks before investing in alt-coins, especially brand-new ones.