HTX Review

Summary: HTX is a versatile cryptocurrency exchange that was launched in China and rebranded from Huobi. It supports a diverse range of 700 cryptocurrencies, providing users with numerous trading options including spot trading, futures, and options with leverage. HTX sets itself apart with its commitment to low transaction fees and tight spreads, maximizing user returns on each trade. 

It has over 50 million registered users across 170 countries globally and has obtained licensing in multiple jurisdictions, including Australia, Lithuania, South America and Dubai.

What is HTX?

‍HTX, previously known as Huobi, is a cryptocurrency exchange known for its extensive suite of services. Users have access to a wide variety of trading options, including spot and futures markets, along with innovative financial services like crypto loans and earning programs that offer competitive APYs. Trading on HTX is enhanced by the availability of over 700 cryptocurrencies, ensuring a broad market outreach. 

Significant to its appeal is the platform’s emphasis on security and compliance, boasting global licenses and rigorous standards including a proof of reserves. The exchange prioritizes user experience with features like 24/7 support and a mobile app that makes trading accessible on the go. Additionally, HTX is engaging the community with rewards and contests, like the opportunity to share in a $18,000 prize pool or earn up to 241 USDT for new sign-ups, making it a dynamic and attractive platform.

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Key Features‍

The exchange is known for its diverse ecosystem, which includes the HTX Token (HTX), staking services and derivatives trading. The HTX token is an exchange-based token used for various transactions on the platform and allows users to receive benefits such as discounted trading fees. Refer to the below list for an overview of the key features offered:

1. Buy and Sell: Users can engage in buying, selling, and trading across more than 700 cryptocurrency assets, including Bitcoin, Ethereum, and many altcoins on both spot and futures markets.
2. Staking Services: This feature allows users to earn an annual percentage yield (APY) by staking their crypto holdings, thereby increasing their investment through passive income.
3. Derivatives Trading: Offering advanced trading options such as futures with leverage up to 20x, HTX caters to experienced traders looking for sophisticated trading mechanisms and financial instruments.
4. Mobile Accessibility: With dedicated mobile apps compatible with both iOS and Android devices, HTX ensures users can trade anytime and anywhere, enhancing trading accessibility and convenience.
5. Security Measures: HTX emphasizes strong security protocols including SSL encryption, two-factor authentication, and compliance with global licensing to protect user assets and data.
6. Community and Rewards: Engages its user base with interactive community events, trading contests with significant prize pools, and rewards hubs that offer bonuses like USDT for completing specific activities.
7. Crypto Loans: Lending and borrowing services are available with Bitcoin accepted as collateral for 30, 45 and 90 day periods.
8. Over-the-Counter Desk: An OTC trading desk with a personalized account manager and instant price execution, ensuring a full-service trading experience for institutional investors.
9. HTX Academy: Provides educational resources through HTX Learn and Futures Academy to help users understand trading basics and advanced strategies, elevating their trading expertise.

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Is HTX Regulated?

Yes, HTX adheres to global regulatory standards, ensuring comprehensive compliance and trustworthiness in most active trading regions. The exchange is rigorously regulated and licensed across multiple jurisdictions, enhancing its credibility and user trust. In Europe, HTX has registered in Lithuania as a Virtual Currency Wallet Operator and Virtual Currency Exchange Operator. In Gibraltar, the exchange holds a Distributed Ledger Technology (DLT) License. 

Moving towards the Middle East, it operates under the VARA Virtual Asset MVP Provisional License in Dubai. In the British Virgin Islands, it has secured a SIBA Investment Business License for the custody and operation of an investment exchange. Additionally, in Australia, HTX is registered with AUSTRAC as a Digital Currency Exchange Provider, and in South America, it provides payment and remittance services. These global licenses ensure that HTX operates within the frameworks set by local and international regulatory bodies.

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Is HTX Safe?

Ensuring the highest standards of security, HTX implements an arsenal of measures such as cold storage for assets, multi-signature wallets, anti-DDoS protection, and a robust verification process to prevent unauthorized access. The platform also conducts periodic security audits and employs advanced machine-learning algorithms for real-time threat detection. 

Furthermore, HTX’s Security Reserve Fund acts as a safety net against unforeseen security breaches, reflecting their unwavering commitment to user fund protection. This proactive approach has positioned Huobi as a trusted player in the cryptocurrency market, demonstrating its relentless efforts to provide a secure and safe environment for its users. There is a dedicated 20,000 BTC in the security reserve fund to compensate users in case of a breach.

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Fees Schedule

The platform employs a maker-taker fee model where the charges depend on the user's 30-day trading volume. Standard trading fees range from 0.2% for spot trading, and the makers and takers fee is 0.036%/0.046% for users with less than 5 BTC monthly trade volume. As the volume increases, these fees can decrease to as low as 0.015% for makers and 0.04% for takers. HTX offers a VIP membership, which further reduces trading fees. Apart from trading fees, it also imposes deposit and withdrawal fees, although these vary depending on the specific cryptocurrency involved. 

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Staking Options

HTX offers a comprehensive staking service that provides a variety of options to earn rewards on cryptocurrency holdings. The exchange features flexible and fixed staking with competitive APYs, allowing users to benefit from stable returns on idle assets or use structured products like Dual Investment for enhanced yields. It also supports on-chain staking on public blockchains safeguarded by HTX's own nodes, which permits users to earn rewards directly within their crypto wallets without transferring their assets out. 

Security is a priority, with enterprise-level solutions ensuring professional node support and asset custody. For those looking higher rewards, HTX provides additional incentives for VIP users and offers specialized services for substantial investments, such as those exceeding $300K. Additionally, HTX is preparing for the inclusion of major PoS networks like Ethereum, Tron, and Polkadot, which will soon offer yields ranging from 3% to 15%.

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Bottom Line

In conclusion, HTX is a comprehensive cryptocurrency exchange that supports over 700 assets, various trading modes like spot and futures, along with additional services such as staking and crypto loans. HTX’s dedication to security, compliance across multiple global jurisdictions, and useful features such as 24/7 support and mobile accessibility highlight its commitment to providing a secure and efficient trading platform.