Huobi vs Binance: Which One is Truly Better?

Huobi and Binance are consistently among the top exchanges in the cryptocurrency market. So, Huobi vs Binance, which exchange is truly better? Let's find out in this article!

Huobi Vs Binance Which One Is Truly Better Azc

Huobi vs Binance: Overall Rating

Cryptocurrency exchanges Huobi and Binance are quite similar, offering a comparable range of services. However, there are significant differences that may be important for many investors, as investment efficiency depends on them.

In the overall ranking, Binance slightly outperforms Huobi, mainly due to lower fees and a larger amount of educational and analytical information. Binance’s trading platform is also rated higher.

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Binance top 1, Huobi top 9

However, Huobi supports more currencies and provides more options for passive income.

Binance vs Huobi: Brief Introduction

Binance is the largest cryptocurrency exchange by trading volume, operating since 2017. It stands out with its extensive selection of cryptocurrency assets for investment, low fees and commissions, a developed P2P platform, and a launchpad for new cryptocurrency projects. The downside of Binance is the lack of regulation in some major countries. Not all features and tools are available in the US and some other countries. There is a separate legal entity, Binance US, for operations in the US.

Huobi Global was established in 2013 and currently has offices in Hong Kong, South Korea, Japan, and the US. However, it is registered in Seychelles, an offshore zone. The exchange provides access to thousands of cryptocurrencies as well as crypto futures and NFTs, offering an excellent selection of passive income tools.

OPEN A HUOBI ACCOUNT HERE!!!

Like Binance, not all services and assets are available in the US and UK. HBUS, a partner exchange with a limited range of services, was established to operate in the US.

Huobi vs Binance: Regulation

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Neither Binance nor Huobi is regulated in the US; separate entities, Binance US and HBUS, were established to serve US customers respectively. Due to the restrictive operations of cryptocurrency exchanges in China, both exchanges are registered in crypto-friendly territories. You can view the list of restricted countries on the respective exchange websites.

Both exchanges comply with the requirements of international anti-money laundering organizations, thus both adhere to KYC/AML rules. To avoid issues with regulatory authorities, the exchanges cooperate with many governments to share data on suspicious customer activities.

Huobi Global vs Binance: Trading Conditions

Huobi stands out with a larger selection of supported currencies. Both exchanges allow withdrawals in over 20 fiat currencies and major cryptocurrencies. On Huobi Global, the minimum deposit is slightly higher at $100 compared to $10 on Binance.

Related: What is Huobi Exchange (HTX)? Latest Overview of Huobi Exchange in 2024

Huobi Global vs Binance: Trading Assets

The complete list of the largest cryptocurrencies by market capitalization is available on both Huobi and Binance. If you want to trade some rare or new cryptocurrencies, you need to inquire about their support on the selected exchange. Overall, Huobi offers a wider selection of small-cap cryptocurrencies.

OPEN A BINANCE ACCOUNT HERE!!!

Binance vs Huobi Global: Fees

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Binance’s commission and transaction fees are on average lower compared to Huobi’s fees. The difference is especially noticeable in the base fee on the spot market – 0.1% on Binance versus 0.2% on Huobi. Both exchanges offer significant discounts for investors of their native tokens. Discounts reach up to 25% on Binance for holders of Binance Coin (BNB); the discount on Huobi ranges from 10% to 65% and depends on the volume of Huobi Token (HT).

Withdrawal fees on Binance and Huobi are designed to cover the fees of payment systems and depend on the selected currency and withdrawal channel. Huobi has the advantage of fee-free P2P transactions.

Huobi vs Binance: Deposits and Withdrawals

Both exchanges support all basic methods of cryptocurrency deposits and withdrawals and are equally convenient in this aspect. Huobi Global and Binance support deposits and withdrawals in fiat currencies, bank transfers, debit/credit card deposits and withdrawals, and electronic payment systems.

Related: What is Binance? Binance Exchange Review 2024

Huobi vs Binance: Research, Education, and Support

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Binance focuses more on analytical information and research in its operations. The exchange regularly conducts research on the cryptocurrency market, providing results on the website and in newsletters. However, Huobi is also actively developing this area.

Both Huobi Global and Binance pay a lot of attention to educational programs. The exchanges provide numerous guides and articles about the blockchain and cryptocurrency markets on their websites, while their YouTube channels have many educational videos. Additionally, the exchanges hold regular webinars in multiple languages.

Customer support services of Huobi and Binance are excellent, with multiple communication channels and support in major languages. The main communication channels include live chat and email. According to our observations, responses from Huobi (in English) tend to arrive sooner.

Binance or Huobi: Which Exchange is Actually Better in 2024?

The comparison of Binance and Huobi Global in 2023 shows a slight lead for Binance. The main criteria helping this exchange lead are significantly lower fees on the spot market. Additionally, the exchange leads in education and analysis.

Huobi Global is suitable for customers seeking new small-cap coins, as the selection on this platform is better. It is also a great choice for passive investors who can earn up to 50% annually with Huobi Earn and other programs of the exchange.

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Huobi vs Binance: Which Exchange is Better for Beginners?

Both exchanges are excellent choices for new traders, though Binance has a slight advantage. This exchange has lower fees, a lower minimum deposit, and slightly more educational materials for beginners.

Which Exchange is Better for Day Trading?

Currently, Binance leads in day trading, as fees play a decisive role in active trading styles. On average, fees on Binance in the spot market are significantly lower, while in the futures market, Binance’s advantage is not as significant.

Additionally, Binance has higher average liquidity, allowing you to trade large volumes of coins without slippage.

Huobi vs Binance: Which Exchange is Actually Cheaper?

Binance is the clear leader, as fees on the spot market range from 0% to 0.1%, while the base fee on Huobi is 0.2%. Both exchanges offer significant discounts for native token holders – 25% on Binance and 10-65% on Huobi Global. However, even with discounts, fees on Huobi are still slightly higher.

Both exchanges support spot trading, futures, and NFTs. However, Huobi has a larger selection of supported coins, with more small-cap coins available. Additionally, Huobi provides more opportunities to earn passive income from cryptocurrencies.

5.0/5

(3 votes)
  1. Avatar of
    Anonymous

    BINANCE

  2. Avatar of Sigit Hartono
    Sigit Hartono

    Thanks for all useful information,..👍🤝👍

  3. Avatar of Jerry Darlington
    Jerry Darlington

    Binance is better

  4. Avatar of Jeff
    Jeff

    Binance all the way

  5. Avatar of Sekou Koulibaly
    Sekou Koulibaly

    C’est très bon continuité

  6. Avatar of
    Anonymous

    Great job

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