If you want to trade fiat currency and withdraw more than $5,000k in crypto daily you will need to provide ID for verification on the Kraken exchange. Has Kraken saved the reputation of crypto exchanges by proving that a deregulated exchange can be safer than a regulated one? We have conducted an in-depth review of fees, features, and pros and cons to determine if Kraken’s self-regulatory model can compete with regulated exchanges.
We found that Kraken still has several hurdles to jump to fully satisfy investors and regulators. This detailed review evaluates how Kraken’s cryptocurrency trading platform is meeting the trading and security needs of its retail and institutional traders. Kraken caters best to European traders looking to trade high-quality digital assets with excellent liquidity, though still presents itself as a promising platform for US and Canadian cryptocurrency traders. Featuring an excellent user interface and a great range of trading tools for traders of all experience levels, Kraken is a great choice for traders, regardless of experience level.
Huobi Global’s plan for the future of its crypto ecosystem look bright and remains today as one of the leading cryptocurrency exchange. However, as Huobi Global acknowledges, hacks can happen at even the very best cryptocurrency exchanges. However, Huobi has implemented the ‘Huobi Security Reserve,’ which is a widely supported move, in which Huobi has set aside 20,000 BTC reserved for users who have lost funds either due to hacks, or exchange failures. Naturally, traders are wary of exchange hacks, with some very notable examples in the past where users of some high-profile exchanges have lost a lot of funds. Luckily, for the users of the Huobi Global exchange, the Huobi Group puts security first, and it does it well.
Huobi Global Overview
As funds will become immediately available on Huobi Global users exchange accounts, this provides a great entry route and incentive for users to stay on and use the Huobi exchange. The Huobi Global exchange is Huobi’s main offering, serving traders in 130 countries. Through Huobi Global, traders can access almost 200 crypto and stablecoin assets. Founded in 2013 by Leon Li, a former computer engineer at Oracle, Huobi Global is a digital asset and cryptocurrency headquartered in Singapore.
In December 2013, trading volume exceeded 30 billion yuan, making Huobi China’s largest digital asset trading platform at the time. Huobi Pro is clearly and exchanges with big ambitions, signified by its current aggressive international expansion strategy. The exchange itself has few rivals in the cryptocurrency market as a trading platform and the breadth of variety in cryptocurrency coins and tokens supported is a real strength. The alternative HADAX market will also win over many fans and was a clever move by Huobi.
The benefits of OTC exchanges are that they don’t affect the market price of the underlying asset. Kraken is a crypto-to-crypto and fiat-to-crypto exchange developing a safer, fairer trading system with digital ledger technology.
Huobi Global Exchange Review
Kraken is a centralized cryptocurrency exchange (CEX) seeking to provide the security standards of a decentralized exchange (DEX). Since a DEX does not hold user funds, data or personal information it is less susceptible to hacking. Following the hacking of New Zealand’s Cryptopia, Kraken CEO Jesse Powell has advised traders to store their funds offline in hardware and non-custodial wallets, and to manage their own private keys. Only funds needed for trading should be in a Kraken trading account, advises Powell.
Opening an Account
To conclude, Huobi Global has managed to build a successful exchange platform, operating in the space for a long time with its reputation steadilty increasing. While we do not agree with some of the business choices Huobi has made such as minting an exchange token, our rating remains impartial and Huobi certainly deserves a high score in the ultra-competitive crypto exchange landscape. Huobi’s OTC exchange is a novel feature, which although hasn’t currently seen anywhere near as much volume as the Huobi Global exchange, is steadily gaining traction. The Huobi OTC exchange allows users to trade funds peer-to-peer, like other decentralized exchanges.
- Huobi’s OTC exchange is a novel feature, which although hasn’t currently seen anywhere near as much volume as the Huobi Global exchange, is steadily gaining traction.
- While we do not agree with some of the business choices Huobi has made such as minting an exchange token, our rating remains impartial and Huobi certainly deserves a high score in the ultra-competitive crypto exchange landscape.
- To conclude, Huobi Global has managed to build a successful exchange platform, operating in the space for a long time with its reputation steadilty increasing.
The secure exchange has become one of the most popular places to buy cryptocurrency as investors have become more concerned about the increase in cryptocurrency scams and frauds. Like the Coinbase exchange, also based in San Francisco, Kraken launched in the aftermath of the Mt. Gox hacking in 2011 with a vision to build a better crypto exchange. The bitcoin exchange added the ability to buy Ether in 2015 and quickly became the second largest exchange for trading bitcoin-ether pairs. Kraken contends its transparency, irreversible transactions and programmable enforceable contracts provide more consumer protections to safeguard trader assets than regulated exchanges. For crypto traders and users, gaining access to new tokens via Huobi Prime is easy.
Huobi Global IEO launchpad
Huobi also has local exchanges in South Korea, Japan, and through its strategic partner, the United States (also under the brand name Huobi). Overall, with support for the top seven largest cryptocurrencies by market capitalization, plus several other promising cryptocurrencies, it is clear that Kraken is targeting traders of only the strongest digital assets. However, since Kraken lacks support for token-based digital assets, it might not be as suitable for those looking to trade digital assets from less established projects. Kraken has an excellent variety of digital assets and fiat currencies available for trade on the platform and is highly regarded in the cryptocurrency trading community owing to the fact that only high-quality assets are supported.
Is Huobi Global Safe?
As a leading digital financial service provider, Huobi has been believing that providing safe service to the users and Don’t Be Evil, ensuring your account and assets safe with professional risk control system.
This promotion caused a boost in the price of Huobi Token (HT) but it remains to be seen whether this will result in any long-term improvements of the platform’s overall trading volume and popularity. Huobi is one of the largest cryptocurrency exchanges based and catering to Asian audiences, having operated in the space since 2013. Huobi also has a token – Huobi Token, or HT – which they try to market as a utility token and are working hard to promote usage in it, for competitions, fee discounts, voting on certain matters and more.
Now one of the oldest and most recognizable names in the industry, Kraken has spent close to a decade building out and refining its cryptocurrency trading platform. Today, Kraken serves as a secure destination where cryptocurrency newbies and professionals alike can purchase, trade, and sell their digital assets. Huobi is a global digital asset exchange run by Huobi Global Limited. With offices in Singapore, the United States, Japan, Korea and Hong Kong, the exchange platform allows its users to trade more than 190 currency pairs. The Huobi.Pro exchange platform is an impressive piece of tech and is up there with the best trading platforms of traditional financial markets.
Headquartered in Singapore, Huobi Pro describes itself as a ‘digital asset exchange’, rather than simply a cryptocurrency exchange. The exchange supports ICO tokens as well as cryptocurrencies and believes that future development of the Blockchain economy will lead to new categories of digital assets appearing. The Huobi holding company behind the exchange was founded in Beijing in 2013 and forced to relocate to Singapore last year as the Chinese government banned Fiat to cryptocurrency trading and ICOs. For many, the cryptocurrency bear market from proved to be too much to handle. Exchanges like Mt. Gox folded in a heap of drama while other newbies struggled to find the right formula to attract traders.
Over the four years the exchange has been in operation it hasn’t experienced any security breach and can be considered to match the highest standards of cryptocurrency and traditional financial markets exchanges. Huobi is still ranked within the top 20 cryptocurrency exchanges by volume today, but much lower down the list than what was previously the case.
In 2016, the exchange reported $247 billion in turnover — yes, you read that correctly — giving it just over half of the world’s digital asset exchange market share. Judging by Huobi Prime’s two hugely successful launches of the TOP token and NEW token, we expect that other upcoming token launch events are going to see a serious onboarding of new investors.
Generally speaking, all they need is a fully verified Huobi Global account and an average monthly holding of 500 or more Huobi Tokens. As would be expected of an exchange as large and well developed as Huobi Pro, cybersecurity measures in place to protect the exchange and its traders are significant. The exchange itself is built on an advanced distributed system architecture and 98% of assets are held in multi-signature cold storage wallets, which means they are not accessible from online.
In 2019, Huobi has been making clear efforts to reclaim more of the market. They have recently announced the launch of an OTC desk for institutional investors. On 22nd May, 2019, they ran a special “Bitcoin Pizza Day” promotion (commemorating the day that Laszlo Hanyecz purchased two pizzas for 10k BTC, back when a single bitcoin was worth only three cents). This promotion included discounted BTC, giveaways, and the launch of their new Reserve Right Token (RSR) stablecoin.