HTX, originally known as Huobi, is a cryptocurrency exchange founded in 2013, now based in Seychelles, focusing on experienced traders with over 700 cryptocurrencies.
The exchange offers advanced trading options like margin trading, futures, and sophisticated order types, catering to professional trading needs.
HTX places a strong emphasis on security, utilizing multi-signature cold storage and maintaining a large security reserve fund to protect user assets.
The platform is not beginner-friendly and lacks full regulatory compliance but holds multiple licenses in different jurisdictions to enhance user trust.
HTX provides a comprehensive mobile experience, detailed educational resources, and competitive trading features, though it falls short in customer support quality.
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| Feature | Description |
|---|---|
| Headquarters | Seychelles |
| Founded | 2013 |
| Licenses | Thailand, Japan, Gibraltar, among others |
| Cryptocurrencies Listed | 700+ |
| Key Features | Margin trading, Futures, Advanced Order Types |
| Security | High, with multi-signature cold storage |
| User Interface | Not beginner-friendly, mobile-centric |
Founded in 2013 and originally headquartered in China, HTX, previously known as Huobi, has undergone significant changes over the years, particularly in its operational base, due to regulatory shifts. Presently, HTX is headquartered in the Seychelles and has expanded its physical presence across Asia with offices in South Korea, Japan, Hong Kong, and Singapore. It notably attempted to establish itself in the United States in 2018 but had to withdraw due to licensing hurdles.
Historical and Regulatory Context
HTX is the rebranded version of Huobi, marking a decade of operations in the cryptocurrency space. This transition reflects not only a milestone but also a strategic alignment with the Tron blockchain, as indicated by its new name where ‘H’ stands for Huobi, ‘T’ for Tron, and ‘X’ for exchange. Despite its global presence, HTX remains unregulated but holds several licenses, including those from Thailand’s Ministry of Finance, Japan’s Virtual Currency Exchange Association, and the Gibraltar Financial Services Commission, among others.
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Trading on HTX: Features and Tools
HTX ranks among the top ten cryptocurrency exchanges globally in terms of volume, offering over 700 cryptocurrencies for trading. It provides a sophisticated platform not friendly to beginners but ideal for more experienced traders. Features include:
- Finance/Earn Features: This includes options to stake cryptocurrencies with attractive annual percentage yields (APYs), participate in ‘Primepool’ for airdrops, and engage in various earning mechanisms.
- Margin and Futures Trading: HTX allows leveraged trading up to 5x on spot markets for over 80 tokens and offers derivatives products like traditional futures, perpetual swaps, and options.
- Advanced Trading Options: The exchange supports multiple order types, including limit orders, trigger orders, and the innovative Flash Close function, which helps in quick position settlements at optimal prices.
Security and Compliance
Security at HTX is stringent, with funds stored in multi-signature cold wallets and an operational 20,000 BTC Security Reserve Fund to cover potential losses from security breaches. However, HTX has never had to use this fund, indicating a robust security framework.
Accessibility and User Interface
HTX supports a range of deposit and withdrawal methods including bank transfers, crypto, credit/debit cards, and more. However, it is important to note that users in the US and UK are not supported, reflecting the platform’s selective geographic accessibility. The interface itself, while comprehensive, may pose a learning curve for new users but offers depth and functionality for seasoned traders.
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HTX Mobile and Desktop Experience
The HTX platform is accessible through web, desktop, and mobile applications, with a particular emphasis on the mobile experience. The mobile app, highly rated by users, offers comprehensive functionality including trading, staking, news updates, and more, making it a strong component of the HTX offering.
Education and Support
HTX provides educational resources through the HTX Learn platform, offering videos and articles to help users understand various aspects of crypto trading. Support is available via live chat and email, with mixed reviews on the responsiveness and helpfulness of the support team.
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Comparative Analysis
While HTX brings robust features and extensive market access, it competes with giants like Binance, KuCoin, and OKX, which offer broader services in more regions with possibly deeper liquidity. For traders looking for advanced features and extensive cryptocurrency options, HTX stands as a viable choice, but it may not provide the same level of appeal for those needing high-level regulatory assurances or beginner-friendly interfaces.
HTX, with its comprehensive trading tools, diverse cryptocurrency offerings, and advanced security measures, caters well to experienced traders looking for a robust trading environment. However, its geographic limitations and the complexity of its trading platform might deter new entrants to the crypto trading scene. For those within its operational reach and with the requisite trading acumen, HTX offers a solid platform for engaging with a wide range of cryptocurrency markets.
FAQs
- What is HTX?
- HTX, formerly known as Huobi, is a cryptocurrency exchange focused on providing advanced trading tools for experienced traders.
- Where is HTX headquartered?
- HTX is headquartered in Seychelles, having relocated from China due to regulatory changes.
- What licenses does HTX hold?
- HTX holds various licenses, including in Thailand, Japan, and Gibraltar.
- What types of trading does HTX support?
- HTX supports margin trading, futures trading, and has advanced order types for professional traders.
- Is HTX suitable for beginners?
- No, HTX’s platform is designed for more experienced traders and may be complex for beginners.
- How does HTX ensure security?
- HTX uses multi-signature cold storage and maintains a large BTC security reserve fund to protect user assets.
- Does HTX support mobile trading?
- Yes, HTX provides a comprehensive mobile app that offers full trading functionality and educational resources.
- What educational resources does HTX offer?
- HTX provides multiple instructional videos and articles through its HTX Learn platform to educate traders.
- How does HTX handle customer support?
- HTX offers support via live chat and email, but the quality and responsiveness of support have been mixed.
- How does HTX compare with other exchanges?
- While HTX offers extensive features for advanced traders, it lacks some regulatory compliance and beginner friendliness compared to exchanges like Binance or Kraken.
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Comment by jetonwhy
February 16, 2025
Anyone else finding it weird that Deriv only allows deposits through Jeton and not bank transfers? They’ve removed crypto too, so now it’s just cards and Jeton. Kinda frustratin...