6 Best Huobi Alternatives in 2023 (Sites & Apps Like Huobi.com)
Many cryptocurrency traders have likely heard of Huobi, one of the largest and most well-known crypto exchanges worldwide. Founded in China in 2013, Huobi offers a comprehensive array of services including spot trading, derivatives, lending, staking, cloud mining and more – giving advanced traders ample options for maximizing returns.
However, Huobi also has some downsides that can deter less experienced users. For one, it operates in a legal gray area due to its headquarters in the Seychelles. Many countries restrict or have banned Huobi, limiting its accessibility. The platform can also appear complex for crypto beginners, with a cluttered interface and abundance of information that may seem overwhelming.
So for traders seeking an alternative to Huobi in 2023, what are the top options? I’ve researched and compiled this list of the 6 best sites and apps like Huobi currently available:
- Pionex
- eToro
- Uphold
- Binance
- Coinbase
- Coinmama
I compared these Huobi competitors across a number of key factors including fees, supported currencies, special features, ease of use, security and more. Based on my analysis, I believe Pionex stands as the best overall Huobi alternative this year for most cryptocurrency traders.
Keep reading this extensive guide to understand why and learn which platform aligns closest with your personal priorities and preferences.
- Pionex
I selected Pionex as #1 on this list thanks to its user-friendly yet highly customizable trading bots for automated cryptocurrency trading.
Founded in Singapore in 2019, Pionex aims to make crypto trading accessible for all. Its standout feature is the 16 free trading bots built directly into its intuitive web and mobile interfaces. Users can automate their trading 24/7 based on predefined strategies and technical indicators, removing emotion-driven decisions from the equation.
Research indicates over 100,000 traders worldwide currently leverage Pionex’s trading bots, highlighting the strong demand. Let’s explore some of the key advantages propelling this exchange to the top Huobi alternative:
Advantages of Pionex
Free Trading Bots – No subscription fees; only pay a small commission per trade
Regulated & Secure – Registered in Singapore and the United States
Easy To Use – Interface designed for beginner accessibility
Mobile Access – iOS & Android apps to monitor bots anywhere
16 Trading Strategies – Grid, DCA, arbitrage, social trading bots & more
High Liquidity – Over $30 million daily trade volume across 130+ coins
In addition, Pionex recently introduced Spot-Futures Arbitrage bots to capitalize on price discrepancies between spot & derivatives markets. This showcases their continued innovation to simplify even advanced algorithmic trading strategies.
Cryptocurrencies Available on Pionex
Pionex supports over 250 cryptocurrencies including all major coins like Bitcoin, Ethereum, Litecoin, Dogecoin and more. The full roster provides ample options for traders seeking alternatives.
Pros and Cons of Pionex
Pros
- Beginner friendly web/mobile design
- Lowest fee structure compared to alternatives
- No monthly subscription fees
- Regulated in Singapore and United States
- 16 free customizable trading bots
- Over $30 million daily trade volume
Cons
- Unable to deposit/withdraw fiat currency like USD
- Limited ability to modify default bot strategies
- Email address cannot be changed after registration
Conclusion on Pionex
From its intuitive interface to versatile trading bots accessible for free, Pionex stands as a compelling Huobi alternative in 2023. The exchange allows both new and advanced traders to implement automated strategies rapidly.
Backed by strong volume and innovative features like Spot-Futures Arbitrage, Pionex appears positioned to continue growing its active user base exponentially.
- eToro
Established in 2007, eToro began as a forex and CFD trading platform before adding cryptocurrency capabilities. This multi-asset brokerage appeals to social traders with its integrated copy trading functionality.
Users can interact within the eToro community to discuss trading strategies, analyze charts together, and automatically copy positions from successful “Popular Investors”. This social element provides ample educational resources lacking on traditional exchanges.
Advantages of using eToro
Social & Copy Trading – Learn strategies from top traders
Mobile Trading App – Monitor crypto positions on-the-go
Multiple Asset Classes – Cryptos, stocks, commodities, ETFs & more
Secure Cold Storage – Majority assets held in offline wallets
17M+ Users – Active global community for engagement
eToro also stores most cryptocurrency assets in cold storage wallets. This industry best practice limits online access to funds, reducing risk of potential hacks.
Cryptocurrencies Available on eToro
Users can trade over 40 top cryptocurrencies on eToro including Bitcoin, Ethereum, Cardano, Dogecoin, XRP and more.
Pros and Cons of eToro
Pros
- Copy trading & social features
- Ability to engage trading community
- Supports multiple asset classes
- Secure offline cold storage
- Strong mobile app
Cons
- Complex transparent fee structure
- Geo-restrictions in certain regions
- Transfer limitations with eToro wallet
- Lower maximum leverage than rivals
So for traders focused on learning or amplifying profits through social collaboration, eToro should rank near the top of Huobi competitors under consideration. But users prioritizing a wide coin selection or lower trading fees may find superior alternatives.
- Uphold
Whereas most exchanges only enable crypto trading, Uphold provides access to over 60 asset classes including equities, precious metals and fiat currencies.
This gives users amplified trading and hedging options between cryptocurrencies and other traditional assets. Uphold appeals to long-term “buy and hold” investors with its support of fractionalized purchases and automated recurring buys.
The platform also undergoes regular third-party security audits to ensure adherence to industry best practices for protecting funds.
Advantages of Uphold
60+ Asset Classes – Cryptos, stocks, gold, fiat currencies & more
Fractional Trading – Purchase partial coins from just $1
Recurring Purchases – Automated dollar cost averaging (DCA)
Fast Account Access – New users trading within minutes
Intuitive Mobile App – Simplified interface for beginners
Further, Uphold maintains a transparent fee structure with no hidden costs for trades or withdrawals. This helps newcomers easily calculate potential expenses from the outset.
Cryptocurrencies Available on Uphold
Uphold supports over 75 cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple (XRP), Dogecoin and more. Users can even trade altcoins like Stellar Lumens (XLM) and fractional coins like Bitcoin Cash (BCH).
The options satisfy most casual traders looking to build a diversified crypto portfolio. But users demanding niche coins or high volume derivatives trading may find wider selections on rival platforms.
Pros and Cons of Uphold
Pros
- Support for 60+ asset classes
- Transparent fee structure
- Fractional coin trading available
- Beginner friendly mobile interface
- Third party security audits
Cons
- Steep learning curve for new crypto traders
- Higher spreads than some competitors
- Unable to set limit buy/sell orders
So while Uphold caters well to investors seeking holistic, long-range portfolios, short-term and high frequency traders may benefit more from a purer crypto exchange like Binance or Coinbase. This makes Uphold better suited as a secondary choice in a portfolio of platforms.
- Binance
As the world’s largest cryptocurrency exchange by trade volume, Binance needs little introduction. Its low trading fees, extensive coin listings and futures/derivatives capabilities make it a leading Huobi alternative.
Binance’s spot exchange supports over 500 cryptocurrencies – the most by far on this list. This gives traders access to niche altcoins and microcaps that other platforms often exclude. The sheer diversity provides ample arbitrage and first-buy opportunities for profits.
Further enhancing liquidity, Binance averages over $50 billion in daily trading volume across its spot and derivatives markets. This high volume enables easy order fills even when buying/selling large crypto positions.
Let’s explore some of Binance’s other standout features:
Advantages of Binance
500+ Cryptocurrencies – Widest asset selection available
Deep Liquidity – $50+ billion daily trade volume
Low Fees – Access to tiered spot fee discounts
Derivatives Trading – Options, margin & futures contracts
P2P Platform – For buying/selling crypto locally
Billingual Support – Assistance available in 15 languages
Binance also operates a peer-to-peer (P2P) exchange for buying and selling cryptocurrencies directly with other nearby traders. This provides payment flexibility when traditional banking options don’t suffice.
Cryptocurrencies Available on Binance
As outlined earlier, Binance supports over 500 cryptos – substantially higher than any other platform on this list. This includes majors (Bitcoin, Ethereum etc), altcoins, stablecoins, meme coins, metaverse tokens and more.
Pros and Cons of Binance
Pros
- 500+ coin trading options
- Leading spot & derivatives volume
- Competitive fee structure
- Robust futures & margin offerings
- Deep liquidity for large orders
Cons
- Complex interface overwhelms newcomers
- Restricted access for US-based traders
- Regulatory uncertainty in some regions
So frequent traders prioritizing niche assets, derivatives and affordable rates will find tremendous value in Binance. But users demanding advanced accounting tools or regulatory assurances may lean toward a more institutional platform like Coinbase. This makes Binance likely an ideal secondary exchange rather than sole option.
- Coinbase
As one of the largest and most beginner-friendly cryptocurreny exchanges globally, Coinbase has served over 73 million users across 100+ countries since 2012.
The platform’s clean user interface and educational resources appeal to first-time traders. But Coinbase also offers robust tools for professionals via its Coinbase Pro upgrade. This advanced interface unlocks options like margin trading up to 3x leverage.
Further, Coinbase invests heavily in security – holding 98% of customer funds in offline cold storage wallets. This far exceeds industry standards for protecting assets in case of a hack.
Let‘s summarize additional Coinbase advantages:
Advantages of Coinbase
Top Security – 98% cold wallet storage
Beginner Resources – Simplified buying, videos & tips for newbies
73M+ Users – Strong reputation & liquidity depth
Account Protection – FDIC insurance covers USD balances
Top Volume – Over $327B in crypto bought/sold
So traders seeking reliability through a trusted, mainstream exchange ranked highly on security benchmarks can use Coinbase confidently. But flexibility remains limited relative to international crypto trading platforms.
Cryptocurrencies Available on Coinbase
Coinbase supports over 130 total cryptocurrencies including all majors – Bitcoin, Bitcoin Cash, Ethereum, Litecoin etc. Shiba Inu got added recently also.
The list falls slightly below larger global rivals but satisfies most casual traders. The focus resides on safer, bluechip options rather than risky microcaps. The educational resources also help novice traders make sound investments.
Pros and Cons of Coinbase
Pros
- Leading security protocols
- Backed by major US investors
- Beginner educational tools
- 73 million+ registered users
- Top fiat currency volume globally
Cons
- Mixed customer service reviews
- High trading fees than alternatives
- Geo-restricted in certain regions
So Coinbase succeeds as a reputable on-ramp for traders to enter the crypto market. But its limited payment options and asset offerings leave some advanced functionality lacking compared to international platforms.
- Coinmama
As the final Huobi alternative, Coinmama brings a veteran presence as one of the earliest exchanges allowing crypto purchases with credit and debit cards. This provides a quick onramp for new traders.
Founded originally in Israel and now headquartered in Ireland, Coinmama requires document verification before trading to comply with global AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations.
Let’s check out some other notable features:
Advantages of Coinmama
Credit & Debit Buys – Link cards to purchase 150+ coins
Worldwide Access – Buy options in ~200 countries
Quick Verification – New users trading within minutes
Top Security – Cloudflare firewall protection
Intuitive Interface – Simplified for beginner purchases
Further, Coinmama’s partnership with payment provider Simplex grants broad card transaction capability. This grants simple checkout versus grappling with bank wire transfers or other confusing methods.
Of course, convenience comes at a cost – expect to pay higher fees buying via card versus a bank transfer-reliant exchange. But if you value speed and accessibility when starting, Coinmama shines.
Cryptocurrencies Available on Coinmama
Coinmama allows buying Bitcoin, Ethereum and 60 additional cryptocurrencies with credit/debit cards. For casual traders building an initial diversified portfolio, the options should suffice.
The ability to quickly purchase via card and own coins in your personal wallet makes Coinmama ideal for first-time buyers. But active investors may prefer exchanges offering cheaper bulk buying methods after initial sign-up.
Pros and Cons of Coinmama
Pros
- Credit & debit card buying options with 150+ coins
- Beginner friendly web interface
- Available in nearly 200 countries
- Fast verification for new users
- Strong security protocols
Cons
- Overall higher fees than alternatives
- Must complete verification
- Lower order size limits than rivals
- Limited payment methods beyond card purchases
So Coinmama succeeds as an easy onramp exchange thanks to quick signup, an intuitive interface and the unique perk of card buys. But expect to pay high convenience fees and monitoring order limits. Most traders use Coinmama briefly before graduating to cheaper platforms.
Conclusion
While Huobi delivers ample tools for advanced crypto traders – from derivatives to tokenized equity offerings – its legal gray status deters many newcomers. Further, beginners may find onboarding overly complex.
Fortunately reputable alternatives like Pionex provide both usability for first-timers along with customization to satisfy sophisticated investors. Pionex particularly shines with its free trading bots, allowing you to automate strategies tailored to personal risk tolerances.
Social traders may alternatively prefer copy trading capabilities from the likes of eToro’s vibrant user community. Just remember convenience comes at a price when buying direct via Coinmama‘s credit card processing premiums.
As outlined in this extensive guide comparing Huobi to 6 top rivals, you must align an exchange‘s capabilities with your priorities. Carefully weigh factors like fees, security, coin offerings, supported payment methods and special platform features.
No singular “best” answer exists – only the optimal platform matching your trading style, coins sought and risk preferences. But across numerous criteria, Pionex leads as the most compelling Huobi alternative available in 2023. Open your free account today to experience the difference.