HTX

HTX is the rebranded version of the former Huobi cryptocurrency exchange. Huobi changed its name to HTX (Huobi Tron X) and underwent rebranding to mark its 10th anniversary in September 2023. The Huobi Exchange was founded in China in 2013 by Leon Li, who remains its current CEO.

The new name encapsulates several meanings: "H" stands for Huobi, "T" represents TRON (a decentralized operating system based on blockchain technology), and "X" signifies the exchange. Additionally, "X" symbolizes the decade-long journey of the exchange. The name HTX, when viewed as the combination of HT and X, indicates that HT is the platform's own token, with X representing exchange.

HTX ranks among the top 20 global crypto platforms in terms of market capitalization, liquidity, website traffic, and other rankings according to CoinGecko.

HTX is jurisdictionally based in the Seychelles (an offshore location) and operates offices in Singapore, Hong Kong, South Korea, Japan, and the United States. The exchange is accessible to residents of over 100 countries, including the Russian Federation (excluding Crimea and Sevastopol).

Advantages of HTX

• The HTX cryptocurrency exchange interface is user-friendly and straightforward.
• Its official website is translated into many languages, including Russian.
• Security and reliability are top-notch, with no security incidents since 2013.
• The platform boasts over 20 million users across 130 countries and regions.
• It offers a variety of trading options, including derivatives and margin trading.
• HTX features a broad selection of digital assets – tokens, altcoins, stablecoins – and supports many national currencies, including RUB.
• It has the world's largest Bitcoin trading volume.
• The exchange lists over 10,000 cryptocurrencies.
• Using the native HT token can halve trading fees for transactions using this utility altcoin.
• The versatile iToken multicurrency professional crypto wallet supports over 30 blockchains and serves as a gateway to WEB-3.
• The customer support is efficient, with response times of no more than 2 hours, available 24/7, and can be reached via phone, email, ticket, or social media.

Disadvantages of HTX

• Complicated verification process. Some users have noted that the verification process on the platform can be quite confusing and take a lot of time and effort to complete.
• Withdrawal fees can vary depending on the cryptocurrency you choose, which can be an unpleasant surprise for those who don’t expect high fees when withdrawing certain assets.
• High fees for low-volume traders. Traders who do relatively little trading may face relatively high fees, making the platform less attractive to users who don’t actively trade.

Registration and Verification

Registering on the HTX exchange is simple and quick. Fill out the form by entering a valid email address or phone number, set a strong password and enter it in the respective field. Then accept the terms of the HTX client agreement and privacy policy by checking the box provided for this purpose and click the "Register" button. For the first login to the HTX (Huobi) personal account, it is recommended to use the link from the email received from the exchange. This helps confirm your email and activate your account.

The next step is verification (KYC). Verification on the HTX exchange is optional, but without it, most of the functionalities are not available, although it is possible to store crypto without P2P. Those who plan to actively trade and want to withdraw more than 0.1 BTC or its equivalent in other crypto assets daily, as well as use additional Huobi features like leveraged trading, OTC trading, or P2P service, should undergo KYC procedure.

Verification has several levels depending on the required functionalities.

Basic Permissions. It's enough to confirm your full name, date of birth, and provide basic information about yourself. Attaching documents is not necessary. Within this level, a fairly high wallet withdrawal limit of 5 BTC is provided.

Basic Verification (L2). It's necessary to provide a scan of the passport (ID card). At this level, you can use the main features of the exchange, with a withdrawal limit of 200BTC.

Advanced Verification (L3). A video selfie is required. This opens access to P2P trading, with a withdrawal limit of 300BTC.

Location Confirmation. It's necessary to fill out a questionnaire about your income and investment opportunities, then confirm your location with a bank statement (utility bills, phone payment, etc.). This opens up unlimited opportunities to work with the crypto exchange, including direct fiat deposits and withdrawals without P2P (bank account, AdvCash).

How to Start Trading on HTX

Before starting trading on the cryptocurrency exchange, you need to top up the balance of your personal account. After that, go to the HTX trading terminal, selecting the "Spot" tab. In the menu on the left, choose the cryptocurrency or assets you need, such as coins of DeFi projects, second-layer blockchains, NFTs, gaming or fan tokens. Once you've selected the asset, the dynamics of its quotes will be displayed on the "live" chart. The chart's parameters, including time frame and other settings, can be adjusted according to your needs. To make a trade, enter the price and volume in the order form, then click the buy (Buy) or sell (Sell) button.

Features of HTX P2P

No Commissions
The HTX P2P platform offers its users the ability to conduct transactions without any commissions. This facilitates the establishment of more accessible and competitive prices by advertisers. Our users have the freedom to choose trading partners on their terms.

24/7 Support
Our clients can count on round-the-clock access to online support services. Serving millions of customers from over 170 countries, we provide quick and qualified answers to any questions related to the use of our platform.

A Variety of Payment Methods
Our platform features up to 59 different local payment methods, allowing you to choose the most convenient one. You can easily and quickly buy or sell cryptocurrency with a single click, making the transaction process as comfortable as possible.

Guaranteed Transaction Security
We pay special attention to the security of each transaction conducted on the platform. The system automatically analyzes all operations for suspicious activity and includes advertiser authenticity checks and face recognition features, ensuring a high level of security for your transactions.

Top-Up via P2P

This platform offers the opportunity to exchange currencies or cryptocurrencies between users under the reliable supervision of the exchange itself. HTX acts as a trustworthy guarantor of transaction execution and an arbitrator, monitoring participant reviews and forming their ratings. On this service, you can purchase cryptocurrency, such as USDT pegged to the US dollar. 

To use P2P Trade services on Huobi, you must complete the verification process, providing passport details and a selfie.

Withdrawal via P2P

To withdraw funds from HTX (Huobi) you can also use the P2P section. It's best to start by choosing USDT, as this currency has the most offers available. If necessary, other cryptocurrencies can be preliminarily converted to USDT. Next, select the direction of the exchange and review the sellers' offers, considering their terms. If necessary, filters can be used to refine the selection criteria.

HTX P2P Exchange Operation

The exchange operates 24/7 non-stop, offering an extensive assortment of merchants (exchange points), providing exchange operations in a mode close to real time. Various communication options are available, including chat and specialized support chat, to help resolve any transaction-related queries or disputes. Each merchant's profile includes comprehensive statistics: the number and speed of transactions, customer reviews, and more, helping you choose the most suitable partner for the exchange.

Staking

HTX provides node staking. It is an alternative to mining, but with lower resource costs. Node staking is the process of locking cryptocurrencies in order to receive rewards.

Proof of Stake (PoS) is one of the two main consensus mechanisms of the blockchain. A transaction sent to the blockchain network is verified by nodes to confirm that the trader has enough tokens and is not compromising the network. A confirmed transaction will be added to the blockchain and cannot be changed.

Staking is primarily aimed at ensuring the reliable development of the blockchain. To do this, it is necessary that nodes are properly incentivized for their contribution, i.e. staking must be rewarded.

Cryptocurrency owners can delegate their staked coins to validator nodes to store the assets in their wallets for a fixed period. In this way, you can increase your account balance by participating in staking.

Staking and Voting offers an alternative for users who want to participate in the consensus and governance of the blockchain. Moreover, it is an easy way to earn passive income for holding tokens.

Fees

The HTX P2P platform does not charge any fees for transactions.

Spot fees: 0.2%/0.2% (maker/taker)

Fees on futures : 0.02%/0.05% (maker/taker)

HTX exchange has a multi-level commission system. You can check your level and commission in your personal account in the “Commission Settings” submenu item in the “User” menu.