For those who do not know, Huobi is one of the leading global digital asset exchanges. As of recent Huobi broke ground in the South Korean markets now offering 100 different cryptocurrencies. When looking at the different exchanges out there as of date, Huobi sits at the third largest exchange among power houses like Coinbase. In the United States, Huobi might not get as much credit as it should. People in the United States tend to lean towards Coinbase which dominates the market here. We use to think of Huobi as the Coinbase of China. Before China started closing down exchanges, Huobi was the largest in that region.
According to Bitcoin.com Huobi will be offering the following cryptocurrencies:
DAT, DBC, DGD, DTA, EDU, ABT, ACT, ADX, AIDOC, APPC, AST, BAT, BCD, BCH, BCX, BIFI, BLZ, BTC, BTG, BTM, CHAT, CMT, CTXC, CVC, LINK, LSK, LTC, LUN, MANA, MCO, MDS, ICC, IOST, ITC, ICC, IOST, ITO, EKO, ELA, ELF, ENG, EOS, ETC, ETH, EVX, GAS, GNT, GNX, MTP, MTL, MTN, MTX, NAS, NEO, OCN, OMG, ONT, OST, PAY, POWR, PROPY, QASH, QSP, QTUM, QUN, RCN, RDN, REQ, RPX, RUFF, SALT, SBTC, SMT, SNC, SNT, SOC, SRN, STK, STORJ, SWFTC, THETA, TNB, TNT, TOPC, TRX, USDT, UTK, VEN, WAX, WICC, WPR, XEM, XRP, YEE, ZEC, ZIL, ZLA, and ZRX.
According to Bitcoin.com Huobi also plans on a United States launch. It was currently in the process of registering with the U.S Financial Crimes Enforcement Network. IF Huobi goes through with the U.S launch it will be interesting to see how it pans out vs. Coinbase. The reason we say this is because Coinbase has mentioned numerous times its open to adding additional cryptos but has not added any new offerings since Bitcoin Cash. We feel as if a lot of investors are interested in cryptos like XRP. IF U.S investors can have access to XRP post U.S launch, it could put great pressure of competitors such as Coinbase to answer if they want to continue dominating market share in the space......
According to Bitcoin.com Huobi also mentioned that is plans on holding 98% of customer assets in cold wallets. This was a step by the exchange to beef up security measures. For those who are not familiar, you have cold wallets and hot wallets. In simplest terms, cold wallets are stored offline and hot wallets are assets held online. Cold wallets can be significant because they help eliminate hackers from stealing digital assets from investors. IF assets are stored within hot wallets (online) they can run the risk of hackers having access. Competitors such as Coinbase are considered "hot wallets". Like mentioned above, IF Huobi successfully enters U.S markets, we think it could give Coinbase a run for their money due to both offering more cryptocurrencies and the fact they are working to improve upon security explained within the cold wallet approach they plan on taking.
Comments