Hoo.com is a Hong Kong-based cryptocurrency exchange. With this exchange, users may purchase and sell cryptocurrency using spot exchange or futures contracts. Hoo.com also includes OTC trading, margin trading, a free multi-currency wallet, its own Hoo Smart Chain service, and opportunities to generate income on your crypto assets through crypto staking and mining pools. Is this the best platform for trading, staking, and mining? Find out by reading our complete Hoo.com review.
- Over 180 crypto markets
- Customizable futures trading interface
- Well-developed crypto staking services
- Crypto mining pools
- Suspiciously high staking yields
- Under-developed help center/customer support
- US and many other regions seem to be blacklisted
Hoo Exchange Review Summary
Hoo.com is Hong Kong-based cryptocurrency exchange where users can buy and sell crypto via its spot exchange or crypto futures contracts.
Hoo also offers ways to earn interest on your crypto assets through crypto staking and mining pools and supports OTC trading, margin trading, a free multi-currency wallet, and its own Hoo Smart Chain service.
While Hoo doesn’t explicitly say certain regions are not supported (such as the US), platform features seem to be limited for various retail investor accounts
The Hoo platform is accessible to anyone through its advanced desktop interface or mobile app.
If you want to learn all about Hoo’s services and whether or not its trading account is right for you, stick around for this in-depth Hoo.com review.
Hoo.com Cryptocurrency Exchange
The Hoo crypto exchange supports over 180 markets with all the popular crypto assets like bitcoin, ethereum, and a laundry list of altcoins.
It’s important to note that many supported assets on the Hoo exchange are run on the Hoo smart chain, meaning many assets will have an H before the name, such as HAVAX. These pairs are accessible in the Innovation hub (Inno Hub).
In addition to its supported crypto assets, the Hoo exchange permits crypto purchases with several fiat currencies via credit or debit card, such as USD, the Chinese yuan, the Hong Kong dollar, the Japanese yen, and a few others.
All currency pairs on the Hoo exchange are paired with USDT, meaning there are no other stablecoins or crypto-crypto trading pairs. However, Hoo has plans to add BTC, ETH, and USDC trading pairs in the near future.
Hoo.com Spot Trading
Hoo’s trading interface is incredibly advanced and well-suited for active traders with limit, market, and trigger orders, and as a sizable chart powered by TradingView.
All the available markets, the order book, and trade history panels are conveniently displayed on the sides, and a large order panel is positioned just below the chart for a streamlined and intuitive workflow.
With regard to fees, the Hoo exchange charges a very reasonable 0.20% maker and taker fee, which is better than the industry average of 0.30% – 0.40% but still not quite as low as fee leaders like Binance (0.1%).
Like most cryptocurrency exchanges, Hoo doesn’t charge a deposit fee, but it does have standard withdrawal fees (0.0005 BTC, 0.005 ETH, 1-5 USDT).
Overall, the design of the trading terminal lends itself to both beginner and experienced traders, though Hoo includes a full tutorial of the interface and its features accessible in the upper right side of the chart if needed.
Hoo.com Futures Trading
The Hoo futures trading interface has all the same capabilities as its spot trading counterpart, but it is fully customizable.
Traders can drag and drop different panels within the trading terminal to create a custom layout that suits their needs and trading style, which is an excellent feature to have.
In terms of markets, Hoo supports several contracts, including BTC, ETH, DOGE, and AXS, with leverage of up to 100x.
All contracts are perpetual futures (no expiration date) and settled in USDT.
In addition to its trading functionality, Hoo provides various earning opportunities for users, such as crypto staking and mining pools.
Hoo even has a designated earning product for joint Filecoin mining.
Staking for assets can be locked or flexible, meaning you can opt to lock funds for up to 60 days to earn more, and yields will go as high as 15% for assets like USDT.
Investors will have a wide range of assets they can stake beyond USDT, including USDC, BTC, ETH, FIL, DOT, and more.
And if investors prefer, they can also opt for liquidity providing to stake two different assets through its automated market maker.
Moreover, while Hoo’s staking terms, selection, and yields are rather impressive, investors should remain cautious of its suspiciously high APYs.
The HooPool mining is where users can take part in mining rewards by helping miners buy, sell, repair, and maintain mining machines.
There are several assets users can invest in to participate, including USDT, ETH, TRX, FIL, CC, FLOKI, USN, and the HOO token.
Funds are locked up for seven-day intervals, with some yields stretching well into the triple digits. Users can even choose between single mining and dual mining.
How Hoo.com Compares to Competitors
In terms of trading, Binance and KuCoin have incredibly similar interfaces, even more markets, and slightly lower fees, so unless the Hoo interface is unusually appealing to you, it won’t be the obvious choice.
When it comes to earning opportunities, Binance and KuCoin have some of the most developed services in the market and a more trusted brand/track record, so the only reason to choose Hoo would be to chase a particular yield marginally better than those listed on Binance or KuCoin.
The only advantage Hoo might have over Binance and KuCoin (and other crypto platforms) is the mining pools it supports.
Both Binance and KuCoin, for example, support cloud mining, but they don’t support quite as many crypto assets.
All in all, it’s hard to see a good reason to choose Hoo, a relatively unknown exchange, over either Binance or KuCoin, especially given their reputations in a domain so accustomed to scams and hacks.
This is not to say Hoo is not a great platform, but even if its services were just as good as these titans of crypto, the tiebreaker has to go to the platforms with the higher trading volume and more established name.
Conclusion: Hoo.com Review
After carefully walking through all of its services for this Hoo review, we believe Hoo is an excellent trading, staking, and mining platform.
With its aesthetic, state-of-the-art trading terminal, bountiful markets, and low trading fees, Hoo is a very competitive crypto trading platform active traders will find worth considering.
Hoo’s crypto staking is also extremely appealing, with a wide range of supported assets, agreeable staking terms, and exceptionally high yields.
All crypto investors should tread lightly with too-good-to-be-true investments, but the earning opportunities through Hoo are exceptional nonetheless.
And finally, Hoo’s mining pools are both unique and enticing, with a diverse selection of assets and sky-high yields.
In summary, Hoo is a top-notch platform for traders and earners, but there are still some noteworthy concerns.
First, certain regions seem to be blacklisted from using the platform, so Hoo’s services may not work for a lot of users, including those residing in the US.
Second, there have been (somewhat unfounded) rumors of security concerns or withdrawal issues that make Hoo a challenging alternative to choose, with such tried and true options like Binance, KuCoin, and the like.
Hoo remains a great platform, but needless to say, it will have a tough time competing with the best crypto exchanges.