Last updated on December 15th, 2021
You may have just bought some cryptocurrencies on Huobi, and are looking to earn higher interest on them.
One such platform is Celsius, which offers rather high interest rates on a wider variety of cryptocurrencies.
However, how do you go about transferring your cryptocurrencies between these platforms?
How to transfer crypto from Huobi To Celsius
Here are 7 steps you’ll need to transfer your crypto from Huobi to Celsius:
- Go to ‘Menu → Transfer’ on Celsius
- Select the coin you wish to transfer
- Copy the wallet address on the Celsius app
- Go to ‘Exchange Account’ on Huobi
- Select the cryptocurrency that you want to withdraw
- Enter the transaction details
- Review the withdrawal before confirming the transaction
And here is each step explained step-by-step:
Go to ‘Menu → Transfer’ on Celsius
When you’re on the Celsius app, you would need to go to the Celsius menu and tap on ‘Transfer‘.
Select the coin you wish to transfer
When you’re on this screen, you’ll need to select the currency that you wish to transfer into Celsius.
Copy the wallet address on the Celsius app
After you select a currency, you will be given a wallet address.
Your wallet address is one long string of letters and numbers. It is very important that you copy it letter by letter! If you make any mistake in the wallet address, your crypto will be lost forever!
As such, the best way will be to copy your wallet address directly.
Go to ‘Exchange Account’ on Huobi
On Huobi’s platform, you’ll need to go to ‘Exchange Account‘ from the Balances tab.
This account allows you to deposit and withdraw cryptocurrencies from Huobi.
Select the cryptocurrency you wish to withdraw
Once you’re there, you can select the cryptocurrency that you intend to withdraw. For this example, I will be withdrawing Bitcoin.
You will need to click on the ‘Withdraw‘ button.
Enter the details of the transaction
There are a few details that you’ll need to enter for each transaction.
- The deposit address that you’ve obtained from Celsius
- The network that you will be using to transfer your cryptocurrencies
- The amount of BTC that you wish to withdraw from Huobi
There are some cryptocurrencies that have their own network, such as MATIC.
However, Celsius only accepts the ERC20 version of MATIC.
When you are transferring cryptocurrencies to Celsius, you should be sending the ERC20 versions, and not the network that is native to their blockchain!
Receive the crypto in Celsius
Once the withdrawal has been approved, it may take a while for the transaction to go through.
This really depends on how active the network is at the point of your withdrawal request.
As such, you may need to wait a while before you can receive your crypto on Celsius.
Which cryptocurrencies can I transfer from Huobi to Celsius?
You are able to transfer most cryptocurrencies from Huobi to Celsius.
There are other stablecoins that Celsius supports (like BUSD or ZUSD) which are not found on Huobi too.
What are the fees that I’ll incur when transferring from Huobi to Celsius?
If you are intending to withdraw BTC or ETH from Huobi, the fees are actually rather high:
As such, it is not recommended for you to withdraw BTC or ETH from Huobi due to the high fees!
Moreover, most of the ERC20 tokens will have rather high withdrawal fees. It is not recommended that you withdraw these cryptocurrencies to your Celsius account.
There are some cryptocurrencies that you can withdraw from Huobi, with much lower withdrawal fees. This includes:
If you withdraw any of these cryptocurrencies to Celsius, the fees that you incur will be much lower.
Alternatively, you can buy these ERC20 tokens on Gemini and transfer them to Celsius, as Gemini offers up to 10 free withdrawals a month, even for ERC20 tokens!
Celsius is a platform where you can earn interest while holding on to your cryptocurrencies. However, if you intend to transfer ERC20 tokens to your Celsius account, the withdrawal fees can be quite high.
You may want to consider earning interest on XRP, BCH, XLM or LTC as they have much lower withdrawal fees on Huobi!
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