If you are a Japanese traveler considering a trip to the United States your head is in the right place. The diverse landscape of the country gives you the opportunity to see vast cities, sprawling plains, beaches, mountains and natural views witnessed only in America.
The entire country is a hotbed for culture, vacations and sightseeing tours, but tourists coming from Japan may have some questions about visiting the U.S. for the first time, especially when it comes to the legalization of cannabis. Today we are going to examine the marijuana laws in Japan, understand the current state of Japan’s cannabis culture and explain what Japanese tourists can expect when visiting America for a marijuana weed vacation. We answer all your questions below!
Marijuana Weed Laws in Japan
Is marijuana or weed legal in Japan?
No, marijuana is illegal in every city and prefectures in Japan.
While Japan is well known for many rich forms of recreation, pop-music and alcohol consumption, it’s very noticeable that marijuana is not popular. Japanese drug laws, in general, are intense. This is particularly true when it comes to Japanese cannabis laws. Marijuana court sentences are strict and lengthy which leads many people to pass on cannabis altogether.
Marijuana Laws in Japan Explained
The law that prohibits the use of marijuana is known as The Cannabis Control Law (大麻取締法 Taima torishimari hō) of Japan, also referred to as 1948 Law No. 124. This is Japan’s national law that dictates whether you can possess, cultivate or exchange marijuana.
The Cannabis Control Law has 252 Articles (Amendments) that outline all the specifics on how marijuana is regulated and prohibited in Japan. There are three main points you need to know when it comes to understanding what the Cannabis Control Law is and how it can impact Japanese citizens and foreign tourists.
Article 1: The term “Cannabis” as used in this Act means the cannabis plant (Cannabis Sativa L.) and its products provided, however, that the grown stalk of the cannabis plant and its products (excluding resin.) and the seed of cannabis plant and its products are excluded from this law.
In layman terms, hemp is okay to produce as long as there is no way to smoke it or get high. Simply, marijuana buds, concentrates or resins are strictly illegal and are punishable by law.
Article 4: It is prohibited for any person to commit the following acts:
(i) importing or exporting Cannabis;
(ii) treatment with medicines manufactured from Cannabis or distributing it for treatment;
(iii) receiving treatment with medicines manufactured from Cannabis;
(iv) advertising Cannabis.
(1) A person who, without due cause, cultivates Cannabis, imports it to Japan or foreign countries or exports it to Japan or foreign countries is punished by imprisonment with work for no more than seven years.
(2) A person who commits the crime in the preceding paragraph for profit is punished by imprisonment with work for no more than ten years or, in light of the circumstances, may be punished by imprisonment with work for no more than 10 years and a fine of no more than 3,000,000 yen.
(3) A person who, without due cause, carries, receives or transfers Cannabis is punished by imprisonment with work for no more than five years.
The only way you can possess marijuana in Japan is if you apply and are given a license from the government to be designated as a cannabis handler, cannabis researcher or cannabis cultivator. But don’t get your hopes up, because very few people or companies are even allowed to get their hands on this type of license.
So in short, if you’re a citizen or tourist and get caught with marijuana in Japan, you can expect to go to prison for two to ten years depending on the crime and will receive a hefty fine with very little exceptions.
Cannabis Culture in Japan
What is Japan’s cannabis culture like?
Because of Japan’s strict marijuana laws, the cannabis culture in Japan is scarce. That doesn’t mean that the Japanese don’t like consuming cannabis. Let’s be real. A majority of the world enjoys marijuana in some form but since cannabis-related arrests in Japan come with a 99% conviction rate, often accompanied by several years in prison, the majority of citizens tend to play it safe. In other words, edibles or legalization of cannabis in Japan is not a likelihood for the near future.
If a tourist gets caught with even a small amount of marijuana, they will be deported and banned from entering the country again. Even in the last couple of years, there have been several high-profile cannabis-related arrests in Japan’s entertainment industry. Japan’s marijuana laws are no joke and you shouldn’t take your chances.
Even in the last couple of years, there have been several high-profile cannabis-related arrests in Japan’s entertainment industry. Japan marijuana laws are no joke.
What about CBD in Japan?
Even with the strict laws in mind, it isn’t all bad. There are many cannabis byproducts all with their own legal classifications. Hemp, as well as a variety of different cannabis oils that are popular in the U.S., are readily available in Japan.
Cannabidiol (CBD) without THC is classified as a health food in Japan. Cannabis laws currently apply only to the flower and seeds of the plant so any other byproduct is currently allowed.
For people living in Japan, this is great because there are lots of positive health benefits associated with CBD. Studies have shown the CBD can reduce inflammation, lowered rates of depression, insomnia, and even anxiety. But CBD does not get you high or provide you the euphoric feeling cannabis is known for and this can be a real bummer for Japanese citizens.
Japanese Cannabis Tourism in USA
Now that you know there’s no chance of consuming cannabis in Japan, I’m sure you’d like to learn where you can consume cannabis safely and legally. There are lots of different ways to maximize your cannabis experience in the United States. It all starts by choosing the right places to go. So first off, let’s figure out how to get you to the U.S.
Visiting, Traveling & Vacationing in America from Japan
How long does it take to travel from Japan to the USA?
Travel time is always something to think about when planning your next vacation or adventure, especially one that is overseas. Getting to the United States from Japan is easier now with modern-day air travel. The flight time can take anywhere from 14-40 hours depending on how many layovers you encounter.
Why do Japanese tourists like visiting the United States?
There are lots of good reasons why people are visiting the United States from Japan. Across America, there are countless places to enjoy great food innovations, diverse landscapes, and now that marijuana legalization is thriving in 11 states and Washington D.C, tourists can enjoy smoking a wide-range of cannabis strains and delicious edibles.
Where should I visit in America?
When going on your USA vacation, you’ll get the chance to see a variety of different cultures and natural beauty no matter what part of the country you visit. If you want to get a real feel for the country, consider several stops. Denver Colorado for its mountains, skiing and art.
Washington DC for its history, its museums, its gravitas. San Francisco and Los Angeles California for their beaches, their culture, their celebrities. Las Vegas, Nevada for the shows, the gambling, the excitement.
Take time to acquaint yourself with the areas you travel and try to stay at each location for at least a week because you won’t fully grasp what a cities’ or states’ culture is in a day or two.
America has so much adventure and scenery to offer as you enjoy your USA travel.
Today we will discuss all the ways that you can maximize your time in the United States so read on!
USA Marijuana Tourism
As a result of the difference between how the U.S. and Japan approach marijuana laws, there is a big market for marijuana tourism in the United States. We have our own tumultuous history with cannabis but as time progresses and lawmakers become more malleable to the idea of legalized weed, we continue to see more and more states go green.
While cannabis still isn’t legal everywhere in the country, there are more and more safe spaces where you can walk right into a store and leave with a bag of top shelf kush. No prison sentences, no risk of any kind to blow your buzz.
Hopefully one day there will be a powerful enough Japanese cannabis legalize movement for us to see real change. Until then though, there are lots of different places you can visit in the United States to enjoy marijuana without hesitation; Colorado, California, Nevada, Oregon, or Washington to name a few.
Don’t wait for Japanese marijuana laws to slacken. Head on over to the United States for a robust tour of our green cannabis culture.
One more thing to keep in mind for the Japanese tourist considering marijuana in America. Technically speaking, the Japanese government still considers cannabis consumption abroad a crime. However, unless you get arrested out of the country for a marijuana-related charge it will be virtually impossible to prove.
The solution? Stick to the legalized green states, and you shouldn’t run into any problems.
Best places to consume cannabis in the United States
Without question, the best places to consume cannabis or marijuana in the United States are places where it is legal. USA vacations offer broad access to the plant for the simple fact that the country is constantly expanding its marijuana rights.
Your best bets are to stay in places like Denver, Colorado, San Francisco or Los Angeles, California where laws are well established, and there are plenty of cultural and recreational opportunities to take advantage of.
U.S. Cannabis Tourism Started in Denver
Denver is the number one and main destination for marijuana tourism in the United States since they were the first to legalize and have been lenient to the use of cannabis for a year.
Once legalization hit in 2014, tourism in the Denver area went full steam ahead and flourishes in the city today. Colorado Cannabis Tours were the first tourism company in Colorado serving cannabis enthusiasts from all around America and the world.
Other than Amsterdam, there is no other place that has this type of cannabis experience possible. Denver was the first place in America to host 420 events and concerts such as the World-Famous Cannabis Cup and Mile High Festival. The Cannabis Cup had always been held in Amsterdam, but in 2011 High Times brought it to Denver.
Check out what is happening during this year’s 2020 Colorado Cannabis 420 Week in Denver.
California, America’s Next Cannabis Tourism Hub
Other states like California are trying to catch up, but Colorado had been fully legal for 4 years longer.
California was known as the medical marijuana hub since the 1996 California Proposition 215 passed, but now that legalization went into full effect on January 1, 2018, California is now growing as the next cannabis tourism spot to visit.
Popular destinations in California include San Francisco, Oakland and Los Angeles where cannabis billboards and green + signs can be seen along almost every street. Cannabis Tours have a number of adventures you can take part in on your next California weed vacation.
What to expect?
Marijuana laws in legal states are fairly generous but there are some things to keep in mind as well. It’s not a free for all so you need to be mindful of where when and how you consume cannabis.
For instance, public consumption, for the most part, a no-no. For example, you can probably get away with smoking cannabis on the boardwalk of Venice Bench, but it isn’t recommended because public consumption is “illegal”. So you shouldn’t walk down main street with a joint in your mouth, puffing smoke and expect people or law enforcement to be okay with it.
Your best bet will be to find a marijuana 420-friendly hotel or rental unit where you can go to safely roll up and consume cannabis. Or another option would to visit a local dispensary and pick up a cannabis oil vape pen so you can puff discreetly and without the smell.
It is important to note that you can’t operate a vehicle under the influence or transport marijuana in anything other than a sealed bag.
For the most part, the rules are all pretty simple and straightforward, so be sensible and follow them.
What type of cannabis services or experiences are offered?
Maybe you are the type of stoner that likes to stay active. If so you will find that there are plenty of services available that will help you maximize your experience.
That in mind, let’s spend a little bit of time breaking down all of the exciting cannabis-related opportunities you will find in the green states.
One of the best ways to get introduced to the cannabis culture where you are visiting is to take part in a 420 friendly cannabis tour.
These American adventures give you the chance to see everything from marijuana dispensaries to major outdoor and indoor grow farms and even a journey through the hash extraction process.
Check out one of our top three cannabis locations and tour packages:
- 420-friendly limousine
- 420-friendly lounges
- Attend glass blowing demo
- Marijuana samples
- Brewery & grow facility tours
- Hemp farm and CBD class
- Medicine Man Denver grow tour
- Wine and weed tour
- Oaktown cannabis tour
- Oakland Cannabis Creative
- 420-friendly hotels
- Sin City cannabis tour
- Las Vegas exclusive grow tour
- Hop on Hop off a 420-friendly party bus
420 Friendly Classes
If your American cannabis tours left you with an itch for more cannabis-related recreation, then you are in luck. There are plenty of cannabis-related classes in the local area that gives you a great opportunity to explore new hobbies with a healthy side of marijuana.
Take a look at these various cannabis classes:
- Puff Pass & Paint
- Puff Pass & POTtery
- Puff Pass & Pamper
- Cannabis cooking
- Cannabis-infused dinner party
- Cannabis karaoke night
- Pipemaking 101
420-Friendly hospitality services
If you are in need or want of some hospitality services, then you are in luck. There are many options to take advantage of when visiting a legal marijuana state. For example, our 420 friendly airport pickup will meet you when you get off the plane and even stop at a dispensary on the way to your hotel.
And as you go about your American tours make sure to book 420 friendly hotels at each of your stops. At these locations, you will be able to spark up in your room or outside while remaining in the good graces of the hotel.
Booking a Tour or Group Event
So, now that you know what the USA marijuana scene is all about, why wait? With all the opportunities available, it time to have a lot of fun with a legal joint in your hands.
The good news is that getting yourself set up is really pretty simple. To get hooked up with the tours and amenities that we’ve discussed today, simply contact us here for easy online booking. Or maybe you want to be picked up at the airport in a 420-friendly vehicle and that’s not a problem either.
If you need more information call us at 303-420-TOUR(8687) to speak with one of our customer service representatives. We have professionals that speak both English and Japanese so you should have no trouble getting all of the information that you need to make this trip a success.
Considering a trip with a large group? Great! Parties of ten or more are eligible for a discount for groups so invite all of your friends and head on over to the United States for a great time that you won’t forget.
One last thing to mention: if there is a service or opportunity you would like to see that we haven’t mentioned, feel free to ask. Every traveler is a little bit different which is why we also provide custom packages to ensure you enjoy the exact experience you are looking for.
And of course, if you have any questions at all, get in touch with us and ask. We will contact you promptly with the email or phone number you provide to make sure you get the experience you are looking for on your trip.
Marijuana is illegal in Japan.
If caught with possession of marijuana in Japan, you should expect a big fine and a prison sentence from two to ten years depending on the type of crime charged.
There are cannabis cities and tours created specifically for Japan citizens who are looking to enjoy marijuana in America. Call 303-420-TOUR(8687) to learn more.
Featured image photo credit: Arnold Gold / Hearst Connecticut Media
The post Japan Marijuana Laws & Visiting the USA for Cannabis Tours appeared first on Colorado Cannabis Tours and 420 Hotels.
Grayscale Buys Another $186 Million in Bitcoin: Approaching $6B Crypto Assets Under Management
Grayscale has enlarged its Bitcoin Trust, as 17,100 BTC were added to Grayscale’s funds at current prices, as the investment is worth approximately $186 million.
Crypto AUM Approaches $6 Billion
The total assets under management (AUM) for all Grayscale Investments crypto funds totaled $5.8 billion according to its last market report for the week ending September 25.
09/25/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) September 25, 2020
The Bitcoin Trust, or GBTC, is by far the largest fund, containing 82.75% of the total investment, or $4.8 billion. Following that is the Ethereum Trust, which has almost $784 million invested, or 13.5% of the total.
The rest is divided into smaller funds for Bitcoin Cash, Ethereum Classic, Litecoin, XRP, Zcash, and a couple more.
Grayscale buys shares for its investors so that they do not have any direct exposure to the underlying asset. Its BTC shares are currently trading at $11.23, and the Bitcoin holdings per share are up almost 46% so far this year.
The move signifies continued institutional interest in Bitcoin and crypto assets despite having corrected almost 20% since its peak this year. Grayscale also stated that there would be a huge wealth transfer over the next quarter-century, and the younger generation is interested in Bitcoin and crypto;
“$68 trillion will be transferred from older generations to younger generations over the next 25 years. It’s time to pay attention to the behaviors of the next generation of investors.”
Bitcoin Closes Bullish on The Weekly Candle
The weekend has seen Bitcoin grind slowly higher again in an attempt to reclaim the psychological $11K price level.
Analyst Josh Rager has observed the weekly candle close, adding that Bitcoin has up-trended for the third week in a row and remains bullish.
Weekly close looks good and don’t know why people continue to be overly bearish
Bitcoin got a short term pullback and -20% is nothing unusual
Bitcoin continues to uptrend and for the third week in a row has closed above the support zone of $9900 to $10,175
$11ks next pic.twitter.com/5YFwtEX4Nd
— Josh Rager 📈 (@Josh_Rager) September 28, 2020
A retest of the monthly high is also a sign that there are more buyers than sellers at the moment though the next level is critical, and BTC must hold the $11k zone to register further gains.
The $150 million KuCoin hack did not cause any significant sell-off over the weekend, which is a testament to how resilient cryptocurrency markets have become to such incidents.
Almost 2 Million Test ETH Currently Staked on Ethereum 2.0’s Medalla Testnet
Validator participation in Ethereum 2.0’s Medalla testnet is on the rise. And with the growing number of them, the number of staked test ETH is about to close in on a new high of Almost two million test ETH tokens, that are now staked on Medalla.
This comes amid the launch of the Optimism Layer for Ethereum and DeFi TVL clocking $11 billion.
Ethereum 2.0 Medalla Testnet: The Numbers Say It All
As per the latest update, validators have staked a little close to 2 million Goerli test tokens on the Ethereum 2.0 Medalla test net. Active validators are just above 62,000, with network participation ranging between 72 percent to 80 percent in the last 24 hours.
As of now, close to two million test ETH tokens are eligible for voting whereas only little more than 1.5 million Ethers have actually voted to validate Medalla.
According to the last update on test ETH staking, around 38,000 participants had plugged in more than 1.1 million Goerli Ethereum tokens. Since then validator participation has gone up to 63.2% in a month’s time.
ETH Layer 2 Testnet Launched To Give an ‘Optimistic Shape’ To Scaling
As seen above folks are actively working to make Ethereum 2.0 a roaring success. But besides Medalla, Plasma Group developers have been hard at work to reduce the activity load on the Ethereum main net.
Dubbed as ‘Optimism Layer 2,’ the test net will find deployment over the currently trending projects to test Ethereum’s scaling capabilities.
In its entirety, Optimism is OVM, a fully-featured Ethereum Virtual Machine (EVM) compliant execution environment. It’s objective is to work off the root chain to process data and transactions faster.
Optimism is the only generic L2 solution for Ethereum. This means that it does not need to include specific functionality to support existing L1 protocols.
DeFi protocol Synthetix will take the beginning shot at trialing Optimism. And in the process will offer 200,000 SNX in rewards to their users for participating. Synthetix said that currently, the test net is open to the public, but is not available for public contract deployment.
Total Value Locked In DeFi Clocks $11 Billion
Speaking about defi, recent data points to a resurgence in USD deposits in decentralized finance protocols. As per the latest numbers, the total value locked (TVL) has topped $11.13 billion.
The recent rise in activity comes after decentralized exchange Uniswap clocked around $2.3 billion in liquidity, an all-time high for the Ethereum based DEX. This has made it the top DeFi project with an almost 19% dominance.
DeFi lending projects Maker and Aave are also closely trailing behind Uniswap with $1.95 billion and $1.53 billion in USD deposits.
But the current star of the ecosystem is dForce which is designed to be an ecosystem that offers a full-stack solution for DeFi. The project has experienced a near 150% infusion of funds which parabolically pumped its TVL number from $104 million to $257 million in the last 24 hours.
Despite the explosive trend in the DeFi market, ETH has portrayed a lackluster price action. The token is trading sideways $357 a coin.
Huobi Guide & Exchange Review: How to Trade Options, Futures, and Perpetual Swaps
Founded all the way back in 2013, Huobi Group is one of the leading blockchain companies in the industry.
It’s safe to say that the company has come a long way since then and it’s currently offering a variety of services for its wide user base. Employing people globally, Huobi offers a myriad of crypto-related services, including digital asset trading, wallet, mining pool, incubation, research, proprietary investment, and so forth.
Cryptocurrency trading has surged in interest throughout the past few years and exchanges such as Huobi have worked hard to expand their offerings. Derivatives products, apart from traditional spot trading, have exploded in interest, and Huobi is doing its best to accommodate.
Among its popular trading products are the futures, perpetual swaps, and options platforms. In this guide, we will take a closer look at how these tools operate and provide a step-by-step explanation of how to use them.
How to Register on Huobi?
Before anything else, however, you’d first have to register for an account. The process is fairly simple. There’s no mandatory Know-Your-Customer (KYC) procedure for spot trading, but if you want to start using the derivatives platforms, the ID verification is obligatory.
This is how the registration screen looks like:
All that is needed here is an email address that has to be verified through a verification code later on.
Once you have your account opened, it’s highly recommended to take a few additional security steps. First, it’s important to enable the Two-Factor Authentication (2FA), using the Google Authenticator app.
In addition, Huobi has taken a few extra steps that protect your account in the event of it being hacked such as email verification codes, phone verification codes, a designated fund password to ensure fiat asset security, and so forth.
If you want to trade on the derivatives platform, you’d have to go through an additional ID verification step which requires you to input your names, a government-issued passport, driving license or ID number, and upload a picture of it.
We’ve completed all the steps and, in our experience, the process was seamless and the KYC took no more than a few minutes to be completed and approved by Huobi’s team.
How to Deposit and Withdraw Funds?
Now that you have your account set up, it’s time to load it with some funds. Depositing is fairly straightforward and users can choose between a myriad of cryptocurrencies, including Bitcoin, ETH, USDT, and many others.
From the top navigation bar, you need to hover over “Balances” and choose the account you wish to fund. Regardless of where you deposit initially, you can easily transfer the funds between the accounts – it’s instant.
After you select the cryptocurrency you want to deposit, all you need to do is click on the “deposit” button, which will pull up this screen. In this case, we’ve deposited the stablecoin USDT.
In any case, regardless of the cryptocurrency you deposit, make sure to correctly select the transaction network (when applicable) – in our case, we used USDT on Ethereum’s ERC-20 standard.
From here, you can make quick, zero-fees transfers between the different internal accounts and fund your derivatives one. All you need to do is open the account, select the currency that you want to transfer, specify the amount, and confirm the operation:
Once this is done, you are ready to begin using the offered derivatives products. Let’s have a look at all of them.
How to Trade Bitcoin Options on Huobi?
Options contracts are one of the most popular derivatives, used constantly in traditional finance. Lately, there’s a huge demand for cryptocurrency options as well. However, keep in mind, derivatives and options are not recommended for beginners as they carry more risk.
Huobi Futures has a dedicated options platform where currently users can trade both Bitcoin and Ethereum options. In this guide, we will focus on Bitcoin.
By definition, an options contract represents an agreement between two parties to facilitate a transaction on the underlying asset (in this case – Bitcoin/USDT index), at a preset price (known as the Strike Price), prior to the expiration date.
Purchasing a CALL option means that the buyer has the right to buy BTC corresponding to the contract face value at the strike price. On the other hand, a PUT option means that the buyer has the right to sell BTC under the same conditions.
In the top left corner is where you select the type of Bitcoin options contract you want to trade with. For this example, we’ve used the Weekly BTC contract with a strike price of $8,500 and expiry on September 18th, and a leverage level of 5x.
Below is the board where you can monitor the prices for the different contracts based on their strike price factor.
As can be seen in this example, our contract costs around $2,400 to buy (bid). Huobi uses a system where traders can open positions based on contracts, where one BTC options contract equals 0.001 BTC or about $10 at current rates, as of writing this guide.
The par-value for a contract of ETH option equals 0.01 ETH, or about $3 at current rates. Unlike other margin exchanges, users can join options trading on Huobi with fairly low entry barriers.
Now, let’s see how to open a CALL position, as we assume the price of Bitcoin will close above the strike price of $8,500 on September 18th.
From the order menu, we’ve selected a price that we want to buy the contract at – it’s $2414 and the number of Contracts that we want to purchase, in this case, it’s the maximum amount of 25 contracts, which is about $250.
As soon as we hit the Buy Call button, our Limit order will be placed and when the Mark price of the contract reaches it, the order will be executed and we will have 25 Contracts ($10 each) giving us the right to buy Bitcoin at $8,500 (strike price) when the contract expires on September 18th.
If the price of Bitcoin is above $8,500, we will realize a profit, if it’s below that, we will lose the options premium.
If you want to close the position, you can specify the price at which you want to close and the overall amount of your position that you want to close.
Now, in this example, we’ve only shown how to buy a CALL option for Bitcoin, but users can also buy PUT options and they can sell contracts as well. For detailed information on how to do those operations, you can check the official guide.
How to Trade Bitcoin Futures on Huobi?
Moving on, Bitcoin futures are also available on Huobi. Here, users can buy these contracts and speculate on whether or not the price of Bitcoin will be above or below the current price on a pre-set date.
From the left pane, users can choose from a verity of the over 60 cryptocurrencies and the available futures contracts. For Bitcoin, Huobi offers weekly, bi-weekly, quarterly, and bi-quarterly contracts, and supports leverage up to 125x.
Basically, if you believe that the price of Bitcoin will be higher than the current price at the expiration date of a given contract, you should open a long (buy) position. If you think it’s going to be lower, you should open a short (sell) position.
How to Trade Bitcoin Perpetual Swaps
Perpetual swaps are probably the most popular cryptocurrency derivative instrument. They are like traditional futures with the exception that they don’t have an expiry date. In other words, traders can open and close them whenever they want to.
It’s worth noting that Huobi even offers USDT/USD perpetual swaps with leverage of 1X -1000X, becoming the industry pioneer in USDT derivatives.
Besides, for the non-stablecoins, traders can use perpetual swaps with extremely high leverage of up to 125X for BTC swaps and 75X for other swaps. In other words, you can open a position worth 125 times the amount you have in your account.
Huobi Futures offers different leverages such as 1x, 3x,5x,20x, 125x, and even 1000x. Users can choose freely according to their needs.
While this brings opportunities for big profits, please be aware that it’s also extremely risky as the slightest movement in the opposite direction of your position can liquidate your position, causing you to lose your capital. Using high leverage is definitely not recommended for inexperienced traders.
Huobi’s overall customer support is very satisfying. From our test experience, the team is very responsive and easy to communicate with.
Elsewhere, the KYC verification process is particularly quick. After we submitted the documents needed for the identity verification, the team took no more than a few minutes to have them checked and approved the account for trading.
Security: Is it Safe to Trade on Huobi Futures?
Huobi is one of the largest cryptocurrency exchanges in the world. It’s an established company with thousands of employees. While it’s never recommended to keep a large amount of crypto in an exchange, Huobi is regarded as being very safe to use.
The team has also added a myriad of additional security features that users can opt in to further protect their accounts. Of course, you should also beware of scam artists and phishing attacks.
Trading Fees on Huobi
When it comes to the trading fees, Huobi has various fees on its platforms, so let’s have a look at a detailed breakdown for individual traders:
- Futures Trading Fees
- Huobi Perpetual Swaps Trading Fees
- Huobi Options Trading Fees
It’s also worth mentioning that Huobi Futures also provides VIP Sharing Program and Market Maker Program to lower big user’s switching costs to Huobi. For example, Huobi options maker fee rebate is as high as 0.003 USDT per contract.
In general, Huobi is one of the most reputable exchanges out there and they live up to the statements. The customer support is quick and easy to communicate with, the exchange offers a range of different tools to accommodate the needs of various traders.
Their Bitcoin Options trading platform is convenient, rather intuitive, and easy to work with. There’s a range of different contracts with various leverage options and expiration dates.
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