Soon after China called out a ban on fiat to cryptocurrency trading in the nation, many established digital currency exchanges had to cease their operations in China and seek refuge in other parts of the world. In this transition, few crypto exchanges failed to resume their functions, but few survived successfully, and HTX is one of those successful cryptocurrency exchanges that survived the Chinese expulsion.

HTX

In this HTX review, all the essential factors regarding the platform are discussed to help the traders understand how it works and its benefits.

HTX Summary

Official Websitehttps://htx-global.click/
HeadquartersSeychelles
Found in2013
Native TokenYes
Listed Cryptocurrency375
Trading Pairs300+
Supported Fiat CurrenciesNo
Supported CountriesWorldwide
Minimum Deposit100 USD
Deposit FeesDepends on Currency
Transaction FeesDepends on Currency
Withdrawal FeesDepends on Currency
ApplicationYes
Customer SupportEmail, Telephone, Online chat, Ticket system & Social media

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Quick Overview of HTX

  • Formerly known as “Huobi”.
  • The Singapore-based cryptocurrency exchange was initially founded in Beijing.
  • Offers an extensive list of supported cryptocurrencies.
  • Offers an insurance policy cover to users to safeguard their assets held in the exchange.
  • Multiple channels to reach the customer support team.

What Is HTX?

HTX Exchange is one of the largest cryptocurrency exchange Singapore platform based initially in Beijing but currently headquartered in Singapore. The exchange supports both ICO tokens and cryptocurrencies and emphasizes the future development of the Blockchain economy. It also has crypto trading bot feature, known as “HTX Trading Bot”, which allows users to have flexibility of crypto bot trading.

After its relocation in Singapore in 2020 following a ban imposed by the Chinese government on ICOs and fiat to crypto trading, HTX established its offices in other parts of the world like Hong Kong, the USA, and South Korea, and started to explore the crypto markets in Japan. However, the crypto ban in China and HTX’s expulsion from the nation could not prevent the crypto exchange from its operations, and it presently has over 3 million active account holders.

How Does HTX Work?

More than 100 leading cryptocurrencies are held in the HTX main (HTX Pro) exchange. The registered users can select their preferred cryptocurrency pairs and exchange them on the platform without any hassles.

History of HTX

HTX’s history starts with Leon Li, a former Oracle engineer who, in 2013, purchased the HTX domain before taking up BTC live trading later in that year. Prompt to capitalize on the momentum gained around the emerging Bitcoin market in China, HTX harnessed investments from leading investors, including the Sequoia Capital group.

Soon after its launch, HTX proved that capturing the crypto market share is no rocket science, and the exchange made over $4 billion in turnover in just three months following its live launch. By 2014, the exchange had quadrupled its turnover and proved that it would finally fulfill Asia’s digital asset exchange needs.

As per HTX review, the exchange reported a turnover of $247 billion in 2016, which is almost half of the world’s cryptocurrency exchange market share. However, everyone knows that the cryptocurrency market is always unpredictable.

To everyone’s surprise, it was improved when the Chinese authorities dropped the banhammer on the cryptocurrency exchanges operating in China last year. To combat this blow, HTX, in just one move, decided to pull out all of its crypto operations from China and devised an alternative plan.

It was then that HTX relocated to Singapore, and until this moment, it laid all its focus on the Chinese market. However, now that the exchange was out of China, it had to reinvent itself elsewhere to survive in the crypto industry. Thus, the crypto exchange began to globalize its operations; it began exploring markets in Japan, Russia, Korea, etc.

Features of HTX

The HTX exchange hosts the following features for its registered clients:-

Easy User Interface

Like many exchanges, the HTX Global is easy to navigate and balances functionalities, visual pleasure, and elegance. There are proper price feeds, charting tools, market depth data organized structurally within the trading interface. The alternative HADAX crypto market that supports smaller tokens and altcoins also benefits from HTX’s professional interface and functionalities.

Multiple Order Types

The exchange offers the following order types:-

  • Limit order
  • Market order
  • Stop Limit order

The platform also supports margin trading in bitcoin (BTC) and Litecoin (LTC) with 5x leverage and a fee of 0.1% for 24 hours.

Flash Trade

This is one of the most exciting features on HTX that incorporates an order book, a chart index, and a market chart. The Flash Trade enables users to try real-time trading volume, especially at times of high volatility.

Compatible Across Multiple Platforms

The HTX platform is compatible with multiple platforms like Mac, Windows, iOS, and Android.

Security

The security measures at HTX are robust. The platform is incorporated in Singapore, where the crypto regulations are advanced and support various blockchain startups. It provides multiple security mechanisms to safeguard users’ accounts like the 2-factor authentication is available for both SMS and Authenticator apps.

Swift Customer Service

HTX promptly responds to customer issues. Contacting its customer service team is also very easy. The customer support team immediately answers any trading issues within the hour.

Services Offered by HTX Exchange

HTX provides the following core services to its users:-

An Extensive List of Trading Pairs

Like many exchanges, HTX offers an extensive list of digital currencies available to trade. HTX’s wide selection of available crypto pairs focuses more on bringing in projects from Asia. For the same reason, it is also considered the best crypto trading destination for more upcoming projects from Korea, China, and Singapore.

User Protection Fund

Much like the leading regulated exchange like Binance’s that offers an insurance policy called SAFU, HTX channels its profits into its ‘User Protection Fund,’ which is more like an insurance policy to cover against thefts, hacks, or other unforeseen events that may affect the users’ wallets. This is a massive plus for its customers because getting an insurance cover like this means an assurance of getting their funds back if anything goes out of control while trading on the exchange.

Derivatives and Margin Trading

The founders of the HTX realized that it is not enough to provide a trading platform for cryptocurrency only; clients seek something more from the exchange to survive in the cryptocurrency market. Thus, it launched its own derivatives products for both Swap trading and Futures markets.

Soon after launching its derivative products, HTX focussed on margin trading, and now it is one of the market leaders offering support for C2C and Margin lending.

Institutional Trading Accounts

As one of the largest crypto exchanges, HTX has attracted institutional investors and traders from all over the world. To cater to the needs of these institutional traders, it has launched a separate trading desk that involves both OTC (Over-the-counter) and dark pool trading.

Smart-Chain Analysis

The Smart-Chain analysis is a very useful value-added functionality offered on the HTX platform. It provides insights to the users on various blockchain assets and more than 50 different trade indicators.

HTX API

HTX global allows its users to code their crypto trading bots via the HTX API key or the REST API.to begin trading with the HTX API, users first need to generate their API key that they should not share with anyone.

HTX Review: Pros and Cons

ProsCons
 Impressive user interface. Does not support fiat deposits and withdrawals.
 The Main exchange supports over 300 cryptocurrencies and tokens. The verification process is a bit lengthy.
 Employs high-level cyber security mechanisms.
 Responsive customer support team.
 HTX users enjoy the right to vote on the alternative HADAX exchange that supports multiple altcoins.

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HTX Exchange Registration Process

Opening an account on the HTX exchange platform is very simple. The only complicated part is choosing the exchange version; all the arrangements like hbus.com, Huobi.com, Huobipro, or hbg.com are equally helpful, but separate versions are available for users in different locations. Like for the Americans, HTX US or HBUS will be the right site. To start trading on the platform, users should follow these steps:-

Sign Up

As soon as users find their perfect version of the exchange according to their citizenship, they need to click on the “Sign Up” tab on the upper right-hand corner of the home page. This will take them to the registration page, where they will have to fill out a registration form with basic details like email, phone number, country of residence, and a strong password.

After successful registration, the HTX team will send an auto-generated activation mail into the user’s registered email address that they need to click on to activate their account. At this stage, users are prompted to add 2FA (two-factor-authentication) security in their account along with the password to add an extra layer of security to their funds and data.

Verification

After successful account creation and verification of email address, HTX requires the users to verify their name and nationality. The user’s name as registered on HTX should be precisely the same as it appears in any user’s bank accounts that he intends to link with the HTX account.

Users need to upload government-issued IDs for nationality verification like passports, driver’s licenses, Social Insurance numbers, Military certificates, etc. Once the documents are uploaded, users are required to upload a selfie with any government-issued document and submit the snapshot of the latest three deposit transactions.

Begin Trading

After successful verification, users will be directed to a page where they can find a neat summary of supported crypto coins attached, like for nationality verification users the total supply of that coin, its purpose, etc. It becomes much easier for crypto traders to choose their preferred crypto pair on the platform with all this information.

However, users should always do their research before proceeding, this nifty feature on the HTX platform should always be considered a reference.