Huobi Simplifies Transactions

Following the support added for Banxa earlier this month, Huobi has taken more steps to increase the ease with which people around the world can buy cryptocurrency.

Native Support

Huobi has added support worldwide for Visa and Mastercard credit and debit cards. This update will allow Huobi users to carry out transactions on the platform itself without being redirected to a third-party payment gateway.

Although Huobi supported Visa and Mastercard users before, a user attempting to make a payment or receive money through these cards was sent to a third-party processor – which often required users to go through another KYC process even after they had completed KYC for Huobi.

In an attempt to clear up confusion, Huobi has created a new entity – Huobi Gibraltar – in order to be able to process payments without extra steps for users situated in Europe and Australia, according to Ciara Sun, the Vice President of Global Business at Huobi Group.

“By removing an extra step in the user journey, we’re creating a frictionless experience.”

New currencies with native support from Huobi include – but are not limited to – AUD, ALL, BGN, CHF, CZK, DKK, EUR, GBP, HRK, HUF, MDL, MKD, NOK, PLN, RON, SEK, TRY, UAH, HKD, and USD.

Huobi is currently the third-largest crypto exchange on the globe – if we’re going by volume. As of October 27, the company also holds the largest amount of Bitcoin in cold wallets of any company.

Cold wallets are never connected to the internet unless they are plugged into a PC or mobile device – if you are a personal user – or a server rack in order to transfer cryptocurrency.