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If you are new to cryptocurrency trading, you have likely heard of the "Big Three" exchanges: Binance, Huobi, and OKX (often grouped together as the three major platforms). While each platform has its own interface and unique features, the core process of using them remains largely the same. This guide explains how to use Binance and Huobi—and by extension, the third major exchange—so you can start trading with confidence.
First, understand the basic steps: registration, identity verification (KYC), depositing funds, and then trading. On Binance, you begin by visiting the official website or downloading the app. After entering your email or phone number, you will need to complete the verification process. This usually involves uploading a government-issued ID and taking a selfie. Huobi follows a very similar procedure. Once verified, you can deposit funds, typically in the form of stablecoins like USDT (Tether) or directly with fiat currency (e.g., USD, EUR) using a bank transfer or credit card.
When you log in to either exchange, you will notice the main trading interface. The "Spot Trading" section is the most common starting point. Here, you will see a chart on the left, order books in the middle, and your balance on the right. To buy, you select a trading pair (e.g., BTC/USDT), enter the price you want to pay, and click "Buy." For beginners, the "Market Order" option is easiest—it buys at the current best price instantly. Huobi offers a similar "Instant Buy" feature. The third major exchange, such as OKX, uses the same principle: select a pair, enter an amount, and execute the order.
One key difference between Binance and Huobi is their fee structure. Binance often offers a lower spot trading fee (typically 0.1% per trade, reduced by holding BNB tokens). Huobi’s standard fee is similar, but both offer discounts if you use their native tokens (HT for Huobi, BNB for Binance). For the third exchange, OKX, trading fees are also around 0.08-0.1% for spot trades. All three exchanges provide a "History" section where you can track completed orders and your overall P&L.
Security is another critical aspect to learn. All major exchanges support two-factor authentication (2FA)—Binance recommends using the Google Authenticator app, while Huobi offers the same. You should also enable withdrawal whitelists and anti-phishing codes. Never share your API keys or passwords. On Huobi, you can set up a "Fund Password" separate from your login password. Binance has a "Whitelist Address" feature that ensures withdrawals only go to addresses you have pre-approved.
Finally, consider the additional features. Binance is known for its vast selection of altcoins and advanced tools like futures and margin trading. Huobi is popular for its staking services and fixed-income products. The third major exchange, OKX, offers a robust DeFi gateway and NFT marketplace. As a user, you can access these by navigating to the "Finance" or "Earn" section on the top menu. Start small, use the testnet if available, and never invest more than you can afford to lose. By following these steps for Binance, Huobi, and the third major exchange, you can safely navigate the crypto trading environment.