SPOTLIGHT ON HUOBI - HUOBI LITE - A GREAT TRADING TOOL FOR BEGINNERS [Tutorial]

njaywan (74)adminin Steem Ghana • 3 years ago

Since its inception in 2013, huobi global has taken enormous steps to make their exchange platform easily accessible and user friendly to their users. Provision of a smooth trading experience for traders is key to the success of any exchange platform which is why huobi global has a wide range of altcoins and trading pairs available for trading.

Aside their trading website, huobi also has a mobile app for traders to trade on the go. It is available on both app store and play store. If you are absolutely new to trading/cryptocurrency in general, they have now made provisions for you to learn how crypto and trading works with Huobi Lite.

I have made a post on getting started and creating an account which can be found here. In this tutorial, we will have a detailed look at the Huobi Lite mobile application.

PROS AND CONS ASSOCIATED WITH HUOBI LITE

PROS

Easily switch between Huobi Pro and Huobi Lite.
Has an active announcement section notifying traders of newest developments/updates.
Has a 24/7 online support system.
Offers a "blockchain 101" tutorial on understanding cryptocurrency and blockchain technology.
Has a trading guide for new crypto traders.
App notifies you of changes in currency prices.
Easy to use.

CONS

It only has 7 basic currencies ; Chinese Yuan (CNY), Hong Kong Dollar (HKD), Vietnamese Dong (VND), Ringgit (MYR), Rouble (RUB), Rupee (INR) and New turkish lira (TRY).
Encounters some a few network lags sometimes.

GETTING STARTED

The huobi trading app is available on both the Google play store and the Apple App store. You can use these quick links to download;

Once you download the Huobi trading app from the play store, this interface would appear. Read the about the quick features of Huobi Global by click next to proceed to the next slide.

The huobi app offers two sets of trading experience; Huobi Lite and Huobi Pro. The huobi lite is a transaction free exchange platform that is packed with lots of tutorials of beginners where as the huobi pro is for traders with some experience in crypto trading. In this tutorial, we will be looking at the Huobi Lite.

To do this;

First select Beginner, then "Enable Now".

You can then decide to add a pattern to enable a quick log in. This could be of a lower security as compared to your password entry but it is entirely up to you to create one.

To do so, click "Create one". And to continue press "Later".

HUOBI LITE HOME INTERFACE

Huobi Lite offers a much more user friendly exchange platform suitable for beginners with their simplified interface. It has a 24 hr online support, trading guide, guide to blockchain, user profile, messages, fast purchases and offers it own wallet for holding funds.

BLOCKCHAIN 101 GUIDE

This is a great guide for users who are new to both the crypto currency trading world as well as the blockchain technology. These tutorials are very simplified and packed with useful information for easier understanding. They are grouped into section 1 and section 2.

SECTION 1

This is mostly for people who have no idea about cryptocurrencies and how they work. It addresses salient issues and questions that most traders find difficult to explain to beginners in a simple language. The topics are as follows;

What is Bitcoin?
How are Bitcoins issued?
Pizza = $100 Million.
How is Bitcoin different from QQ Coin?
What is a Bitcoin address?
What's the relationship between Bitcoin and blockchain?
What is Ethereum?
Asset Tokenization -- USDT, Backed by US Dollar?
Platform project -- EOS .
Cryptocurrency -- Litecoin.

SECTION 2

There are only 8 tutorials at the moment with a time frame of approx 1 minute per video and each video tackles one of the following topics.

Classification and Application of Blockchain Projects.
How to invest in Blockchain assets?
How to invest in cryptocurrencies through an exchange platform?
How does over-the-counter trading work?
What are cryptocurrency trading pairs?
What is Quantitative Trading?
Why use Bitcoin Wallets?

ONLINE SUPPORT

Huobi offers a 24 hour online support for their users to be a able to lodge their complains/ issues they might be facing with their platform. All you need to do is to enter your email address, select the department you need their support and enter your message in the message section.

The following departments are listed for support;

Exchange issues
Fiat issues
Futures issues

Users of huobi lite would be automatically referred to the Huobi Support Bot which is programmed to assist you with any of the topics listed below. But in order to file a detailed complain as a trader, you should switch to the Huobi Pro.

USER PROFILE

This feature enable you to view your history as well as trading coupons. You can also complete your ID verification in order to increase your trading limit and also adjust your security/user settings.

Here, you can switch between the light/dark mode to adjust to your display preference. There is also the Switch to Huobi Pro function that allows you to switch between huobi lite and huobi pro.

TRADING

Huobi Lite provides a fantastic trading guide for beginners by offering a swift 1 minute 16 seconds video tutorial that assists you to make your first trade.