Huobi US (HBUS) Shuts Down After Consistently Low Trading Volume
The US exchange Huobi US (A.K.A. HBUS) will be shutting down their operation on December 15.
Please notice that Huobi US (A.K.A. HBUS, A.K.A. Huobi) is NOT the same as Huobi Global. Huobi Global will still continue their operation.
HBUS launched in the US on July 10, 2018. Over the course of the last year and a half, the exchange was never able to repeat the success they experienced with Huobi Global.
We expect this decision comes after a long history of poor trading volume. HBUS has consistently experienced trading volumes lower than $1 million a day. With other popular exchanges reaching volumes 100x to 1,000x larger than HBUS, this performance was becoming a drain on their brand and wallets.
You might be asking yourself how this brand failed to gain traction in the US. While we can’t say with certainty why they failed, we believe their confusing marketing, odd branding decisions, and constant shuffling around of domain names may have been a contributing factor to their ultimate failure. At the time of closing, Huobi owned and promoted 5 different websites.
huobi.com
huobi.pro
hbus.com
huobi.us
hbg.com
We’re willing to bet less than 1% of Huobi users actually know which domain directs to which exchange. Some people may even think some of these sites are scams. That would be a reasonable belief given how unclear Huobi has made their branding. All 5 of these domains redirect to only 2 exchanges.
If Huobi decides to support 2 exchanges again in the future, we would recommend making the branding more simple. Instead of having 5 domains for 2 exchanges, it would be more clear to have 2 domains that never change once they are selected.
If you have funds on HBUS, we recommend moving the funds to another exchange as soon as possible. You will only have until January 31, 2020 to withdraw your assets from the exchange.
Once you’ve withdrawn your funds, its time to find a new home for trading. We’ve written reviews for the most popular exchanges in the industry. You can find reviews for the top US exchanges here:
The Shrimpy team will be officially removing HBUS from our list of supported exchanges by December 15th. This change will not affect Huobi Global users. Shrimpy will continue to support the Huobi Global exchange.
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