Welcome my co-writers, I am glad to have been given this great privilege to explain one of the popular centralized exchanges in existence. This is task 7 of the homework for the beginner's fixed courses, I will be writing the assignment task given by professor @imagen
Question
Choose any of the following exchanges and develop a basic guide on how to use it, indicating whether it is decentralized or centralized.
- Huobi
- KuCoin
- Waves Dex
Huobi Exchange
Huobi is a trading platform situated in Seychelles. The firm, which began in China, currently maintains branches in Hong Kong, South Korea, Japan, and the United States.
This company became a publicly traded business in August 2018. Huobi halted Bitcoin transactions when the Chinese law forbade Digital currencies in 2017. Huobi is still in business as a crypto consultancy and research company. Huobi transacted over $1 billion in trades each day as of March 2018.wiki
Is Huobi a centralized exchange?
Yes, it is a Centralized Exchange.
Basic guide on how to use Huobi Exchange
Note: All screenshots are gotten from my Huobi Exchange Mobile App
Step One: Download the mobile app from Google Play Store
Step Two: Once the app has been successfully installed, you open it. A reminder box appears for you too Agree or Disagree to the terms of the app usage. You cant get past the app without agreeing first.
Step Three: After agreeing to the terms and conditions of usage, a welcome note appears. You are required to click on Get Started to sign up.
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Step Four: For new users they would have to sign up but for old and existing users they're are required to login in with to their existing account with their password.
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Step Five: As a new user, here is how to sign up..
- Input your country and email address.
- Enter Send Verification Code and put the code send to the email provided.
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Step Six: Part of the verification Process is to identify if you are a robot or human. Here is an example;
Step Seven: Enter your desired Password
Step Eight: Now the sign up stage is complete. A page then appears requiring you to choose the category of user you belong to. As a first timer, select Beginner and Enter Get Started.
Step Nine: Huobi's home page appears. You either;
- Check the market performance of the coins in Home
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- Trade your currencies in Trade which could be buying, selling or converting.
- Or check your total assets in Assets
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Conclusion
It has been an amazing experience exploring Huobi Exchange. It gives a suitable platform for newcommers and experienced trades to exchange cryptocurrencies.
Thank you for reading, and thank you professor @imagen for the lecture.