Hoo Exchange Review : Is it Safe or Legit?
Hoo exchange is a cryptocurrency exchange platform that has been set up and is operational since May 2017. This Hoo exchange review will tell you everything about this platform that aims to provide blockchain services to its users worldwide.
- Hoo exchange is a crypto trading platform with a full range of trading products.
- The platform supports various mainstream digital currencies such as BTC, ETH, EOS, and USDT, and other tokens, including current and regular financial management methods.
- The users can also take advantage of various products like Hoo mining, Hoo option, Hoo swap, etc., for a better trading experience.
- The fee structure of this platform is quite simple; it charges trading fees as per the VIP level of the users. Moreover, the withdrawal fees depends on the blockchain parameters, and there is no deposit fees charged.
- The platform also introduces its users to its VIP system, which helps them to enjoy several services.
- The users can also join its affiliate program to gain a ratio of the commissions paid by the invitees.
- The customer service agents are available 24*7 to help the users with their queries.
What is Hoo Exchange?
Hoo exchange is a crypto exchange platform that is registered in Hong Kong. It is among the world-leading crypto trading platforms. Also, it supports several coins and tokens. Hoo exchange aims to provide efficient trading services. To serve the purpose, it has adopted Bank-Level SLL safety links.
Hoo exchange is a cryptocurrency exchange platform that allows traders to exchange their tokens using Quick swap through Hoo.com or its mobile application. Moreover, you can do this for free. Furthermore, the platform supports margin and spot trading.
Hoo Exchange Review: Financing
The platform offers financing by using many significant cryptocurrencies like BTC, ETH, USDT, and EOS. In addition, the platform’s collateral lending allows you to lend crypto assets.
Moreover, the collateral brings down the interest fees to a minimum of 0.0005%. Also, if you wish to access money but not at the cost of selling your cryptocurrencies, this feature will help you.
Built on the centralized platform of Hoo exchange, Hoo swap is an Automated Market Maker (AMM) based trading desk. Further, the product allows users to swap tokens instantly.
Hoo Exchange Review: Custody
This product of Hoo exchange enables the users and large companies to store their cryptos securely. Moreover, it provides extensive asset trusting services with commercial wallet services.
Option at Hoo Exchange
The platform provides an exclusive service to digitalize your asset rights. Additionally, Hoo Options offers its users a dividend right, the right to refund, buy-back right, and gain right.
Furthermore, on moving ahead with Hoo Options, you get features such as risk hedge, assets gain, etc., with future prospects of complete tokenization of blockchain rights.
Hoo Exchange Review: Earn
The Hoo Earn features of the platform allow the users to earn passive income through investments in many savings plans offered by the platform. There are different categories of these savings plans: Flexible, Locked, and Dual Currency.
Also, read Earn Crypto – Passive Income by Staking Coins.
The platform has an on-chain HD (Hierarchical Deterministic) wallet that allows you to get control over your private key. It also lets you handle a multi-chain crypto wallet that supports ETH, BTC, EOS, HO, and BCH. Further, it can also be integrated with LApps and DApps.
Hoo Exchange Review: Mining
This product acts as a one-stop service for machine sale, management, maintenance, and recycle for mining operations.
Hoo Perpetual Contract
Perpetual contacts are the contract which has no expiry date or settlement period. Hoo provides its traders with the functionality of perpetual contracts with USDT standards.
- The trading time is 24*7.
- Settlement Time: The platform offers real-time settlement but allows only the realized profit to be withdrawn.
- Funding Fee Collection Intervals: Hoo exchange collects funding fees every 8 hours.
- Service Fee: The platform charges 0.035% from the makers and 0.075% from the takers.
- Liquidation: Suppose the margin balance is lower than the maintenance margin, then the user will get liquidated, and the rest of the assets are returned to him.
To learn more, read Futures Trading – A Guide for Trading Futures in Crypto
HooPool provides liquidity to the Hoo swap trading desk and helps the users to become liquidity providers. Moreover, by doing so, the users can earn liquidity rewards.
Also, read Top 7 profitable mining pools for beginners
Hoo Exchange Review: Features
- Hoo exchange is an OTC platform that allows you to buy and sell cryptocurrencies quickly. This enables you to perform the transactions at a fixed price that is usually unavailable due to price fluctuations whenever there is a big purchase or sale order.
- Second, the platform offers spot and margin trading. Moreover, the platform includes an Innovative Hub which contains the projects that are in their infancy stage.
- Hoo Exchange supports a web-based interface, but the platform also has an interactive mobile application to render the best trading experience to its users.
How to deposit on Hoo exchange?
- Login to the Hoo.com website.
- Now, select the asset you wish to deposit by going to the “asset management” column.
- For instance, if you want to deposit BTC, you will see your BTC deposit address.
- Some assets or coins also need you to input a Memo or Tag. Therefore, always cross-check that you have entered everything correctly.
How to withdraw assets on Hoo Exchange?
- Login to the Hoo.com website.
- Now, select the asset you wish to withdraw by going to the asset management column.
- For instance, if you want to withdraw BTC, input the address you wish to make the transaction.
- Lastly, input the verification password below.
Hoo Exchange Review: Trading Fees
The Hoo exchange trading fees depend upon your VIP Levels. This is because the platform counts your VIP points and ultimately updates your VIP level every day.
Hoo Exchange Review: Withdrawal Fees
The platform charges withdrawal fees as per the blockchain parameters.
Hoo exchange does not charge any deposit fee, and it is free of cost.
Hoo Exchange Review: VIP System
The core part of the Hoo ecology is the Hoo VIP system. The members of the VIP system enjoy several services along with more products released in the future.
There are different VIP levels in the Hoo exchange, starting from VIP0 to VIP6. The members of the VIP members enjoy lower taker and maker fees. Further, these different VIP levels are determined by the points the users inherit.
For instance, if A invites B to register himself on Hoo exchange, A’s 1st level invitee is B. Further, B’s 1st level invitee will be A’s 2nd level invitee, and so on. Moreover, A and B will receive a ratio of the trading fee once the invitees start trading.
How to get VIP Points?
- Trading: Users get 100 points for a trading volume equivalent to 1 BTC.
- Invite new users: When A user invites B user, then both of them receive 50 points.
- Buy Points: To upgrade to the next level, users can buy the points. 100 points= 5 USDT
- Holding assets: The platform takes snapshots of the user’s accounts, and after taking an average of 7days, the points are rewarded weekly.
Hoo Exchange Review: Affiliate Program
The crypto exchange platform Hoo exchange allows the users to participate in the affiliate program. As a result, the affiliates receive a ratio of the total commissions paid by the invitees. The percentage depends on the trading turnover of the user’s referrals.
|VIP Level||Affiliate Commission %||Sub-affiliate Commission %||Max Commission %|
Hoo Exchange Review: Mobile App
If you prefer mobile applications for a better trading experience, this platform is not behind the race. The Hoo exchange platform is mobile compatible, and you can efficiently operate the platform remotely. For downloading the mobile application, you can check at Google Play and the Apple store.
Hoo exchange platform offers 24*7 customer support to render the needs of the customers. You can ask any queries related to the platform by sending them an e-mail to [email protected]. You can also o through their FAQ section and get all the necessary guidelines if you find yourself stuck somewhere.
Hoo Exchange Review: Pros and Cons
|The platform offers a free-of-cost, multicurrency wallet.||There is no data available regarding the license or registration of the company.|
|You can access their mobile application with an efficient user interface.||You cannot directly contact the manager; the only thing you can do is raise tickets.|
|The platform offers several popular cryptocurrencies and tokens.|
Hoo Exchange Review: Conclusion
Hoo exchange is an efficient and suitable platform for investing and active trading. Moreover, the platform charges low fees and also offers crypto-to-fiat and crypto-to-crypto pairs. In addition, the users can use the features like spot trading, OTC exchange, and margin trading. You can also try their mobile application for a smooth and convenient trading experience.
Frequently Asked Questions
How to complete Hoo’s KYC?
You can follow the below steps to complete Hoo’s KYC:
– Login to the Hoo exchange website.
– Click on KYC under the Personal Info page.
– Select the ID type and fill in all your details.
– Click on Next and upload the files required.
How to get a Hoo invitation code?
You can get access to the Hoo invitation code through the following steps:
– First, You can ask for an invitation code through an online chat with the customer support agents.
– Second, you can ask other Hoo users to send you an invitation code.
– Last, you can look for the invitation code on the platform’s Telegram group.
Is Hoo Pro a good app?
Yes. Hoo pro is a cryptocurrency exchange mobile application that supports exchanges, wallets, money, blockchain, bitcoin, etc. You can make use of this application to trade remotely and for a better trading experience.