HTX, historically known as Huobi and also referred to as Huobi Global or HTX, is one of the world's largest and most established cryptocurrency exchanges. Founded in 2013, it has navigated various industry challenges and has emerged as a secure and popular platform for millions of users globally. This article provides a detailed overview of its features, security measures, trading products, and overall usability.
Overview of HTX (Huobi) Exchange
HTX was established in 2013 by Leon Li. Within its first year of operation, it achieved a daily trading volume exceeding 40 billion TWD, capturing over half of the global Bitcoin trading market at the time and becoming the largest exchange by volume.
Following regulatory changes in China in 2017, the platform rebranded as Huobi Global and moved its headquarters overseas. By 2018, its daily trading volume had stabilized above $1 billion USD.
A significant transition occurred in October 2022 when About Capital Management, controlled by Justin Sun (founder of Tron), acquired the exchange. Leon Li stepped down from operational involvement. In November 2022, the brand was upgraded to "HTX" (Huobi Token X), though it is still commonly referred to as Huobi by its user base.
To date, HTX boasts over 47 million cumulative registered users, more than 9 million active traders, and a historical cumulative trading volume surpassing $33 trillion USD.
| Basic Information | Details |
|---|---|
| Founded | September 2013 |
| Global Rank | Top 10 |
| Supported Cryptocurrencies | 300+ |
| Trading Pairs | 1000+ |
| Supported Languages | English, Simplified & Traditional Chinese |
Key Features and Trading Products
HTX provides a comprehensive ecosystem for cryptocurrency investment, serving over 130 countries. Its suite of products includes:
- Spot Trading: A user-friendly interface for buying and selling cryptocurrencies with basic order types like market, limit, and stop-loss orders.
- Contract Trading: Offers both U-based (e.g., USDT) and coin-based margined contracts, including perpetual, quarterly, and bi-weekly futures, with leverage of up to 200x on major pairs like BTC and ETH.
- Derivatives: Supports options trading (European and American styles).
- Earn Products: A variety of wealth management tools, including staking, fixed and flexible savings, "Shark Fin" structured products, and dual currency investments.
- P2P/C2C Trading: A peer-to-peer marketplace supporting over 74 fiat currencies, including offshore RMB, USD, and HKD, for buying cryptocurrencies directly.
- Trading Bots: Primarily grid trading tools for automated spot market strategies.
- Copy Trading: Allows users to automatically replicate the contract trading strategies of experienced leaders.
- API Trading: Provides robust support for algorithmic and institutional traders, with over 100 institutional partners.
Security and Trustworthiness Analysis
Security is a paramount concern for any exchange. HTX implements a multi-layered security framework to protect user assets and data.
Asset Protection Measures
- Regulatory Compliance: HTX is registered and holds operational licenses in multiple jurisdictions, including Lithuania, Dubai (VARA), the British Virgin Islands (BVI), and Australia (AUSTRAC).
- Proof of Reserves (PoR): The exchange regularly undergoes independent audits and publishes its Proof of Reserves via a Merkle Tree structure, ensuring it holds 100% of user assets in reserve.
- Bug Bounty Program: A program that rewards white-hat hackers from $100 to $10,000 for discovering and reporting potential platform vulnerabilities.
Safety History and Insurance
While HTX has a long history of robust security, it has experienced security incidents. Notably, in September and November of 2023, the platform suffered exploits resulting in significant losses. On both occasions, HTX's management publicly committed to and executed full reimbursements to affected users from company funds, demonstrating a commitment to protecting user assets.
The platform also maintains a SAFU (Secure Asset Fund for Users)-style insurance fund, historically holding 20,000 BTC, to cover potential user losses from extreme events.
KYC Verification Tiers
HTX employs a tiered Know Your Customer (KYC) system to enhance security and comply with global regulations. Higher verification levels unlock greater withdrawal limits and full access to all platform features.
| Verification Level | Withdrawal Limit (24h) | Features Unlocked |
|---|---|---|
| Unverified | 1 BTC | Limited functionality |
| Basic (L1) | 5 BTC | Spot & Contract Trading |
| Primary (L2) | 200 BTC | Full Trading Access |
| Advanced (L3) | 3000 BTC | Fiat Deposits/Withdrawals |
User Experience: Pros and Cons
After a thorough evaluation, here are the main advantages and disadvantages of using the HTX exchange.
Advantages
- Established and Secure: A decade-long operational history with a strong focus on security and user fund protection.
- High Liquidity: As a top-tier exchange, it offers deep order books and high trading volume, facilitating easier entry and exit from positions.
- Wide Asset Selection: Supports a vast array of cryptocurrencies and trading pairs.
- Chinese Language Support: Provides full, native support for Chinese-speaking users.
Disadvantages
- Higher Fees: The standard spot trading fee (0.2% for makers/takers) is generally higher than some key competitors.
- Geographical Restrictions: Users from certain regions, including Taiwan, may have access restricted to specific products like leveraged tokens, contract trading, or grid trading.
- Branding Confusion: The rebranding from Huobi to HTX and the use of multiple names can be confusing for new users.
Fee Structure Explained
Understanding the fee schedule is crucial for traders to calculate their costs accurately.
Trading Fees
| Product Type | Maker Fee | Taker Fee |
|---|---|---|
| Spot Trading | 0.2% | 0.2% |
| U-Based Contracts | 0.02% | 0.06% |
| Coin-Based Contracts | 0.02% | 0.05% |
Fees can be significantly reduced for high-volume traders through the VIP program or by using the platform's native token, HT, for fee payments.
Deposit and Withdrawal Fees
- Deposits: Depositing cryptocurrencies to your HTX wallet is free.
- Withdrawals: Network (gas) fees apply for withdrawing assets. These fees are dynamic and based on blockchain congestion.
| Cryptocurrency | Withdrawal Fee | Minimum Withdrawal |
|---|---|---|
| BTC | 0.00002 BTC | 0.00102 BTC |
| ETH | 0.0035 ETH | 0.0045 ETH |
| USDT | 1 USDT | 2 USDT |
Customer Support and Mobile App
Customer Support: HTX offers support through a help center, a live chat function on its website, and social media channels like Telegram. Response times and quality can vary, but live agents are generally helpful.
Mobile App: The HTX mobile app is available on both iOS (App Store) and Android (Google Play). It has average user ratings (3.4 on Google Play and 4.1 on the App Store) and receives regular monthly updates. The app provides full functionality for trading and account management on the go.
Frequently Asked Questions
Is HTX (Huobi) a safe and legitimate exchange?
Yes, HTX is considered a legitimate and secure exchange. It is one of the longest-operating platforms in the industry, holds various international licenses, uses cold storage for the majority of user funds, and has a history of reimbursing users after security incidents, which adds to its credibility.
What are the main differences between HTX and other major exchanges?
HTX is known for its strong security history, extensive support for Chinese users, and a wide selection of trading pairs. However, its standard trading fees can be higher than competitors like Binance or OKX, and some advanced trading features may be more limited.
How do I withdraw cryptocurrency from HTX to another exchange?
To withdraw, log in to your HTX account, navigate to 'Assets' and then 'Withdraw'. Select the cryptocurrency (e.g., USDT), choose the correct blockchain network (e.g., TRC-20, ERC-20), paste the deposit address from your destination exchange, enter the amount, and complete all security verifications (2FA, email confirmation).
Why can't I access futures or margin trading on my account?
Access to leveraged products is restricted for users in certain jurisdictions due to local regulations. If you are in a supported region, you may need to complete a higher level of identity verification (KYC) to activate these features.
Does HTX require KYC verification?
Yes, KYC verification is mandatory to access most of the platform's features, including trading and withdrawals. Basic functions are severely limited for unverified accounts.
Where can I find the official HTX website and app?
It is crucial to only use official links to avoid phishing sites. You can find the official website and application download links through major cryptocurrency data aggregators like CoinMarketCap or CoinGecko, which list verified URLs. Always double-check the URL before entering your login credentials.
Getting Started on HTX
For new users, the process involves:
- Registration: Sign up using an email address or mobile number.
- Security Setup: Enable two-factor authentication (2FA) using Google Authenticator for enhanced account security.
- Identity Verification (KYC): Complete the required KYC levels by submitting government-issued ID to unlock full functionality and higher limits.
- Depositing Funds: Fund your account via cryptocurrency transfer, bank transfer (where available), or through the P2P marketplace.
- Begin Trading: 👉 Explore more trading strategies to make informed decisions in the spot or derivatives markets.
Final Verdict
HTX (Huobi) remains a giant in the cryptocurrency exchange landscape. Its long track record, commitment to security through Proof of Reserves, and extensive range of products make it a trustworthy platform, particularly for experienced traders and large-volume users. While its fee structure and regional restrictions on certain products may be drawbacks for some, its overall strength and reliability solidify its position as a top-tier exchange worthy of consideration for any serious crypto portfolio.