Disclaimer. Before proceeding , please understand that trading any Cryptocurrencies is high risk activity. This article is not a financial advice , please do your own due diligence before deciding to invest or trade on any Cryptocurrencies.
There are two Huobi entities that you can find in Malaysia actually, the first is Huobi Malaysia that is based on Labuan and Huobi Global which is globally. For this article. we will be focusing on Huobi global, as you can access more cryptos by using the global version. Why Houbi? HB or Houbi is the 2nd largest exchange in terms of volume.
If you do not have an account, you can register here
Is cryptocurrency legal in Malaysia?
According to SC (Security Commissions ) Malaysia, Cryptocurrency is not accepted as legal tender , but it is accepted as form of securities or commodities where it can be traded openly.
How to deposit to Huobi?
Easiest way to buy cryptos is with credit card. Becareful that bank will treat this as Cash Advance and may charge RM20-RM40 depending on banks. You may also be subjected to daily interest rates as the transaction will be considered cash advance.
P2p market is live and kicking in Huobi. You can buy or sell cryptos by your selected preferred methods.
You can buy XRP in Luno and transfer to Huobi. This can be done vice versa. Please remember to use low GAS Fees network such as XRP or Litecoin to transfer between exchange. Do remember that anything that is transferred back to Luno may be accessed by LHDN.
Defactor stable coin for most exchange. You can purchase USDT from your friend and transfer to your wallet in Huobi
International Wire Transfer ( SWIF)
The function is possible with Huobi , however it is suspended at the time being
Houbi Types of Account and services offered
If you are familiar with crypto exchange, Houbi operates pretty much the same manner. You will have access to different accounts and services. Users will have to activate each account type for services.
Spot wallet , account type is where your crypto is stored. Whatever cryptos you own is stored here.
Derivatives and Futures
Futures and Contract trading for cryptos. You can Long or Short cryptos using these functions
Margin trading. Leveraged way of buying or selling crypto. Always becareful with trading on something that you don’t have
As of all exchange, Houbi also has their own NFT marketplace.
You can put your crypto as fixed deposit and earn interest from it. Great ways to earn passive income with Crypto
Houbi Trading Bot
Houbi lets you copy trade from trading bots for a particular commission. If you are not familiar with copy trading, You can copy trade from an experience trader and earn money from their trades while they take a percentage from the trade.