A cryptocurrency exchange platform is necessary for trading cryptocurrency. Today, we’ll compare Binance and Huobi to see which one is best.
Do you want to make a crypto investment? Are you trying to know which trading platform is the best? You’re in the correct place. Choosing between Binance and Huobi as the best cryptocurrency exchange is a matter of preference. Both platforms, nevertheless, are helpful and have benefits.
Best Cryptocurrency Trading Platforms In 2023: Binance vs. Huobi
It is important to evaluate your level of knowledge and your goals in the cryptocurrency market before you make any type of investment. When it comes to investing in a certain currency, newbie and professional investors have different goals. We hope this review of Binance and Huobi’s cryptocurrency exchanges will help you better understand the market.
Binance: Better Finance Every Day
Changpeng Zhao, a developer who had successfully created high-frequency trading software, started Binance in 2017. By trading volume, it is now the biggest cryptocurrency exchange.
For cryptocurrency investing, Binance provides a broad range with low commissions and fees. The intransparent organisational structure and lack of a stock market listing are two of Binance’s drawbacks.
Advantages:
- A well-known cryptocurrency exchange platform
- There are more than 500 different types of cryptocurrencies.
- P2P trading option with two-factor authentication
- security and KYC are prioritized
- encourages the purchase of cryptocurrencies with money
Disadvantage:
- Beginners may encounter difficulties.
Huobi Global – Offering Safe and Convenient Trading Services
Huobi Global is a Seychelles-based cryptocurrency exchange that was formed in 2013. Currently, the exchange has offices in Hong Kong, the US, South Korea, and Japan.
Since Huobi is a secure platform to trade on and provides access to over 500 cryptocurrencies as well as cryptocurrency futures and NFT, the platform has grown immensely in popularity since it was first introduced.
Advantages:
- Very affordable fees
- friendly user interface
- The majority of crypto assets are stored offline
- 24/7 customer service
Disadvantages:
- The only exchangeable assets are crypto assets.
- Not regulated
Huobi vs. Binance: A Comparisons and Result Analysis
In addition to having a larger active user base of about 28.6 million users, Binance offers a higher value-for-money score than Huobi.
Additionally, Binance has more accepted cryptocurrencies than Huobi when it comes to cryptocurrency acceptance.
Last but not least, Binance has the lowest trading fee percentage of 0.10%, which is 0.10% less than Huobi’s trading fees.
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