Steem and other tokens are often priced higher on Korean exchanges but that there is some kind of delay involved in using them which tends to counteract the boost.. Huobi is a Chinese exchange that caters to foreign users - but is it a good option for us?
As you can see in the following screenshot from Coin Market Cap, Huobi is rating Steem at 10-20 cents higher than most other exchanges - which I confirmed by visiting Huobi's Steem Exchange directly. They also exchange Steem directly for USDT too.
Reading through the text on their site, they are funded by some of the biggest venture capital groups around and definitely do not appear to be a 'fly by night' exchange. So what's the deal with their higher price for steem? Their fees are listed at 0.2% for all cyrpto trades - which is slightly lower than Bittrex for the same trade.
Is there a hidden fee somewhere or other pitfall? Anyone know and want to share before I lose tokens unexpectedly? ;)
Wishing you well,
Ura Soul
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I haven't had any problems using Huobi or withdrawing tokens. Although some coins are more expensive to withdraw than others. However, I think that US Citizens are not allowed to open accounts there.
AND their deposit and withdrawal feature for Steem is still closed. Only the Steem already held in accounts on the exchange are trading.
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Ah, aha.. that may be why their price is high then - it is common for the price of tokens on exchanges to increase during periods of wallet maintenance or downtime. Thanks for the info -I'll probably take a look around in there anyway as its the only place i've seen that lets me directly exchange steem for usdt which can be useful at times. :)
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It could be a trap or fake trade orders
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