What is Hoo exchange? Detailed exchange instructions
- 1. What is Hoo exchange?
- 2. Some other information about Hoo
- 3. What are the advantages and disadvantages of Hoo exchange?
- 3.1 Advantages
- 3.2 Cons
- 4. Some types of fees on Hoo exchange
- 5. How is Hoo exchange different from other exchanges?
- 6. Features of Hoo exchange
- 6.1 OTC
- 6.2 Hoo Custody
- 6.3 HooPool
- 6.4 HooSwap
- 6.5 Hoo Earn
- 6.6 Hoo Mining
- 6.7 Hoo Lab
- 7. What is Hoo Smart Chain?
- 8. How to register an account on Hoo
- 8.1 About the Hoo interface
- 8.1.1 Main interface
- 8.1.2 Exchange Spot interface
- 8.2 Preparation before the account
- 8.3 Registering a trading account on Hoo exchange
- 8.3.1 Register by phone
- 8.3.2 Register by email
- 9. How to secure your account on Hoo exchange
- 9.1 Instructions for KYC Identity
- 9.2 Instructions for activating 2FA 2-step security
- 9.2.1 Link to a phone number
- 9.2.2 Linking with Google 2FA
- 10. Instructions for depositing and withdrawing money on the Hoo exchange
- 10.1 How to deposit Crypto into Hoo exchange?
- 10.2 How to Withdraw Crypto from Hoo exchange
- 11. Hoo exchange Trading Guide
- 11.1 How to trade Spot Trading?
- 11.1.1 Market order
- 11.1.2 Limit order
- 11.1.3 TP/SL order
- 11.2 How does Quick Swap trade?
- 12. How to trade Futures?
- 12.1 Limit order
- 12.2 Market order
- 12.3 Conditional limit
- 12.4 Conditional market
- 13. Experience in using other features on Hoo exchange
- 13.1 How to use OTC
- 13.2 How to use API on Hoo exchange Hoo
- 13.3 How to get referral link
What is Hoo exchange? Hoo exchange is one of the most reputable cryptocurrency exchanges today and offers OTC exchange services to help complete transactions most conveniently. However, to better understand Hoo and how it works and operates on the platform, please refer to this article with BHO Network!
1. What is Hoo exchange?
Hoo exchange is a cryptocurrency exchange that offers a wide variety of trading products. Therefore, you can buy, sell or exchange currencies here. The scope of application of this platform will be nationwide.
2. Some other information about Hoo
Although only operating since 2017, Hoo has developed itself and is likened to a reputable cryptocurrency wallet. In 2019, Hoo acquired OAX and Chance (two start-up exchanges in China) and upgraded Hoo exchange based on the Blockchain platform. Since then, the system has promoted and expanded into other business areas such as wallets, custody, and mining.
3. What are the advantages and disadvantages of Hoo exchange?
Hoo exchange the exchange have to attract so many investors? What are the weak points for Hoo exchange to improve in the future? Let's continue reading the content below!
Although newly launched, Hoo has received much favor from the crypto community. Specifically, the strengths of the platform will be detailed below:
- Many features: OTC trading, Futures Trading, Spot Trading, Quick Swap, HooSwap, and HooPool.
- Suitable security: In addition to KYC for identity verification, Hoo exchange also has a Google 2FA security feature and a phone link that is very safe for users.
- High Referral Commission: Discount rate up to 20% depending on user's level.
- Multiple Coin Support: The exchange has quite a few coins, with more than 200 coins and 300 trading pairs.
- There is an APP for both iOS and Android.
- Hoo supports many languages, including Vietnamese.
Besides the advantages listed above, Hoo still has some disadvantages that players need to pay attention to as follows:
- The interface is not user-friendly, and the app sometimes lags.
- Difficulty in loading Coin.
- Little is known about the history, history, and founding members of the Hoo exchange.
4. Some types of fees on Hoo exchange
Buying Coins on Hoo exchange will have the following fees:
- The basic transaction fee on Hoo exchange is 0.2% of the transaction value. In addition, the user can reduce this cost depending on his VIP status.
- Sending fee: 0%.
- Withdrawal Fee: May vary depending on the type of Token being withdrawn.
On Hoo exchange, the level is divided from VIP0 to VIP6. Members of VIP members enjoy lower selector and creator fees. Moreover, these different VIP levels are determined by the number of points the user inherits.
For example: If Mr. A invites Mr. B to register through Mr.A referral code on Hoo exchange, A level 1 inviter is Mr.B. Furthermore, Mr.B level 1 inviter, will be the level inviter. 2 of Mr.A… Both Mr. A and B will receive a percentage of the transaction fee when the invitees start trading afterward.
5. How is Hoo exchange different from other exchanges?
The business strategy of Hoo exchange has achieved many successes when offering many interesting investment programs that attract many users. Because of this, the project gradually gained popularity around the world within just a few months. What makes Hoo stand out from other projects? Let's find out together right here!
- The terminal works fast (3 seconds).
- Easy, convenient transactions to earn extra income.
- There are fiat funds.
- Investment bets are allowed.
- Invest in Blockchain projects.
- Low limit gems available.
- Offers perpetual futures contracts.
- Helps with cross-chain asset transfers.
- There are attractive offers and services.
- Network fees are included in the transaction fees.
6. Features of Hoo exchange
Hoo exchange offers many different features for investors to consult services and make decisions. Services will explain the objectives and operational strategies to help investors easily make decisions. Let's take a look at some of those prominent features right below!
Platform The OTC platform makes buying and selling easier. When you want to trade assets, users can sell when the price is fixed or wait when the price is high to make some extra profit.
6.2 Hoo Custody
Hoo Custody is a professional information security management feature for investors. In custody service custody, there will be two main concepts as follows:
- Enterprise Wallet: This is a comprehensive wallet service solution for game operators and service providers in various ways.
- Asset custody: Make commercial accounts more transparent.
Users can earn great rewards by providing liquidity through HooPool. The process is quite simple to link, check this feature out.
HooSwap is a feature that allows users to instantly swap Tokens and is exclusively designed for Hoo exchange.
6.5 Hoo Earn
Hoo Earn will offer many plans to save, and users can choose to invest to earn more income. There are two types:
- Dual Currency: Users can deposit 2 Tokens of their choice on the platform.
- Locked: When a user withdraws before a fixed period, the user will not get any interest. Therefore, users have to wait for that period before they can start.
6.6 Hoo Mining
This is a professional mining service designed to serve miners, helping to buy, sell, repair, and maintain old or new mining machines.
6.7 Hoo Lab
Hoo Lab will provide many investment opportunities for startups in the early stages of investors' projects.
7. What is Hoo Smart Chain?
Hoo Smart Chain is a form of blockchain that combines smart with PosA, Proof of Stake (PoS) and Proof of Authority (PoA). Using a network with TPS optimizes the user experience and can handle more than 500 transactions in 3 seconds simultaneously.
8. How to register an account on Hoo
To be able to start investing right now, BHO Network will help players register for an account on Hoo exchange to log in now.
8.1 About the Hoo interface
Entering a new market is challenging, first of all, you need to understand the functionality of each interface, so Hoo exchange. Let's find out together now!
8.1.1 Main interface
Before registering an account on Hoo exchange, players need to understand the information in the system's main interface. Specifically as follows:
- OTC: A place used for OTC transactions.
- Market: quick view of market prices.
- Spot trading: Includes spot trading, Innovation Zone where users can trade new tokens, and the Quick Swap feature.
- Futures: is where futures contracts are traded.
- Hoo Earn: Where users holding relevant tokens can participate and earn profits in different forms.
- HooSwap: is an ethereum-based decentralized trading platform (DEX).
- Log in: where to log in when you already have an account.
- Sign up: where to register a new account.
- Download: Where you can scan the QR code for you to download the Hoo app to iOS or Android.
- English: Where you customize the language, including three languages: English, Chinese, Korean
- $USD: Where you can adjust the currency of your choice.
- Help: It is the center to support investors when they have problems and need someone to support them.
8.1.2 Exchange Spot interface
The interface of Hoo exchange is divided into seven elements. The meaning of each content will be mentioned in detail right below.
- (1) features Hoo exchange.
- (2) Cryptocurrency pairs tradable on Hoo.
- (3) Chart, the 24-hour price movement of the displayed currency.
- (4) Open buy and sell orders on the exchange.
- (5) Transaction history.
- (6) Where you place crypto trading orders (limit order, market, stop-limit).
- (7) Your buy and sell orders.
8.2 Preparation before the account
To register quickly, users need to pre-download the Google Authenticator application and have their Passport, phone number, and email ready.
8.3 Registering a trading account on Hoo exchange
Users can register an account by phone number or by email. Here, BHO Network will guide you through registering in two ways as follows:
8.3.1 Register by phone
To register for a Hoo exchange on your phone, players need to operate with four basic steps as follows:
Step 1: Select Vietnam area code (+84) and enter the phone number.
Step 2: Click send code and wait for the confirmation code to verify SMS.
Step 3: Make a password and re-enter the password so that both are the same.
Step 4: Click on the “I agree to Hoo's User Policy” box and select Register.
8.3.2 Register by email
If you create an account with your email, do the following:
Step 1: Enter your email.
Step 2: Click send code and receive a confirmation code from the email.
Step 3: Enter the password and re-enter the password to confirm
Step 4: Click the box "I agree to Hoo's User Policy" and select Register.
9. How to secure your account on Hoo exchange
To secure your account against hacker intrusion, players should ensure their account in one of the ways below.
9.1 Instructions for KYC Identity
Verification KYC identity verification is straightforward, you just need to follow the steps below:
Step 1: Click on Personal Center and select KYC.
Step 2: ID info - Fill in basic information and click next step.
Step 3: ID Photo - Click Me -> Certification site. Select Scan Passport and then Upload.
Step 4: Verified - Done.
9.2 Instructions for activating 2FA 2-step security
If you have enabled 2FA security, you can do it in 1 of 2 ways below:
9.2.1 Link to a phone number
To Account Safety, click Bind Phone Number
Enter the phone number and wait for the confirmation SMS code.
Then, receive the code in the email and enter the confirmation code again.
Click Save, that's it.
9.2.2 Linking with Google 2FA
Linking with Google 2FA will be done through 2 basic steps as follows:
- Step 1: Enter the email address confirmation code.
- Step 2: Open the Google Authenticator App and scan the QR code. Then enter the code shown in GA and click Save.
10. Instructions for depositing and withdrawing money on the Hoo exchange
New players or intending to learn about Hoo should learn how to deposit and withdraw money on the platform. How to do it? The following content will help users know how to operate when trading.
10.1 How to deposit Crypto into Hoo exchange?
Instructions for depositing Crypto into Hoo exchange are as follows:
- Click Asset -> My assets and click Deposit.
- Then find the coin you want to buy. Users can enter Coin name on the search box.
- Next is to copy the address, and recipient information at the exchange or Crypto wallet.
10.2 How to Withdraw Crypto from Hoo exchange
How to withdraw Crypto on Hoo is as simple as depositing. You can do it quickly with three steps as follows:
- First, you need to set a trading password before withdrawing Coin from Hoo exchange.
- Next, enter your trading password and enter it again to confirm.
- Finally, enter the verification code from the email and 2FA, and you're done.
11. Hoo exchange Trading Guide
Some players are still wondering how to trade on Hoo. The content below mentioned by BHO Network will help you learn how to sell and buy coins on Hoo exchange.
11.1 How to trade Spot Trading?
First, you click exchange, and select Spot Trading. The screen will appear with an interface, as shown below.
-  Trading pairs include BTC, USDT, ALTS, and Stablecoins.
-  The chart represents the market.
-  Orderbook and Trade history: order book, including orders that have been traded.
-  Boxes for placing orders.
11.1.1 Market order
The market order is done as follows:
- Enter the amount you want to buy or the amount of Crypto you want and click buy.
- Orders are taken at market prices and are usually executed instantly.
11.1.2 Limit order
The operation to execute the Limit command is as follows:
- When you want to place a Limit order, you need to enter the total price or quantity you wish to buy, and the remaining variables will automatically change to the buying amount and click Buy.
- When you want to sell within the limit, it will be the same as above.
11.1.3 TP/SL order
For TP/SL orders, you need to perform four basic operations as follows:
- In essence, TP/SL orders are similar to stop-limit orders and are used to determine resistance levels. Resistance of a coin.
- The system will automatically set the set price and quantity when using this order.
- Buy order with TP/SL par.
- Sell order with TP/SLSL order.
11.2 How does Quick Swap trade?
Quick Swap is a transaction that allows you to convert many types of Tokens to different types of Tokens quickly.
- Step 1: Select “Spot Trading” located in the toolbar on the main interface, and then select “Quick Swap”.
- Step 2: Select the type of Token you want to Swap and then enter the amount in the "Send" field. Then, the user chooses the type of Token he wants to receive at "Receive", and the exchange will automatically convert the equivalent Token.
- Step 3: Click “Next” to execute the command.
12. How to trade Futures?
The steps to do Futures trading are as follows:
Step 1: Go to Hoo's page and click “Futures” located on the toolbar at the top.
Step 2: Click on order you want to trade.
Hoo Futures currently has four orders with the following characteristics:
12.1 Limit order
It is similar to Trade in Spot Trading and will be activated at a price set by the player.
- Select the triangle to choose the leverage you want.
- Order price: enter price data
- Amount: amount you want to trade
- To trade, click long (long term) or short (short time).
12.2 Market order
The player only needs to pull the lever, enter the amount, and press long/short with this order. At this time, the exchange will sell/buy at the best price in the order book.
12.3 Conditional limit
When using this order, you need to pay attention to terms such as:
- Last Price: is the previous contract price taken based on the Order History.
- Index Price: is the contract price based on ChaiNext's price index.
- Tag Price (also known as Fair Price Marketing): is the estimated price of the actual value compared to the actual price.
To place a Conditional limit order, you need to follow these steps:
- Step 1: Set the price you want to activate.
- Step 2: Choose leverage.
- Step 3: Select a trigger condition (related to the three terms above).
- Step 4: Set the buy/sell price.
- Step 5: Select the % of invested capital, or you can enter a specific amount in the box.
- Step 6: Press long/short, and you're done.
12.4 Conditional market
This order is bought or sold at the market price. To place a Conditional Market, you need to follow these steps:
- Step 1: Set trigger price
- Step 2: Choose leverage.
- Step 3: Select a trigger condition (related to the 3 terms above).
- Step 4: Select % of invested capital, or you can enter a specific amount in the box.
- Step 5: Press long/short, and you're done.
13. Experience in using other features on Hoo exchange
New participants in Hoo exchange need to learn a lot of experience to succeed in the trading process. The content below BHO Network shares will help readers understand more about this issue.
13.1 How to use OTC
The system currently supports CNY with this function, so most users have not used this feature yet.
13.2 How to use API on Hoo exchange Hoo
exchange supports API users to connect with 3rd parties, but to get API. Users can go to API docs to get needed information.
13.3 How to get referral link
Players can click on the Referral Commission to get the referral link and perform the following steps. The commission discount rate is up to 20% and depends on your own level.
This article has provided important information about “what is Hoo exchange?” and how to use Hoo exchange, giving you details on how to register and introducing the features of the trading platform. If you have any questions, please get in touch with the consulting staff at BHO Network directly for answers. Wishing you much success in entering the cryptocurrency market.
Published on April 21, 2022
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