HTX Exchange – Comprehensive Review, Features, Security & Risks

HTX (formerly known as Huobi) is a long-standing centralized cryptocurrency exchange that has evolved into a full crypto-financial ecosystem. Founded in 2013 by Leon Li, Huobi rebranded to HTX in September 2023 to mark its 10th anniversary. The name “HTX” stands for Huobi, Tron, and Exchange — while “X” also signifies the Roman numeral for ten.

Key Features & Services

• Wide Asset Support: Over 700 cryptocurrencies and 1,000+ trading pairs.
• Spot Trading: Standard buy/sell market for a broad spectrum of tokens.
• Futures & Derivatives: Advanced trading with leverage and derivative products.
• Staking & Earn: Stake tokens, use dual-reward mechanisms, and earn yield.
• Crypto Loans & Margin: Borrow or trade with margin to amplify positions.
• Custody & Wallet Services: Cold storage and secure wallet infrastructure.
• Research, Incubation & Web3: Ecosystem services for projects, developers, and Web3 participants.
• Institutional API: Modular APIs, including support for Bitcoin + Lightning Network.

Security, Risks & Controversies

HTX offers a number of security protections but has also faced real-world incidents:

• Proof-of-Reserves: Uses Merkle-tree proof-of-reserves to publicly attest user asset coverage.
• Cold Storage: Majority of assets are stored offline to limit hot wallet risk.
• Security Breaches:
  • September 2023: Hack of hot wallet (~US$7.9M).
  • November 2023: HECO chain bridge exploit (reportedly over $100M).
• Compensation: Affected users have in some cases been reimbursed.
• Regulation: Licensed in select regions (e.g., Dubai’s VARA), but lacks major licenses in places like the US or UK. Regulatory scrutiny remains high.
• Reputation Risks: The rebrand stirred debate; some community members note similarity to FTX, and there are user complaints about support responsiveness, account freezes, and withdrawals.

Fees Structure

• Trading Fees: Base maker/taker ~0.2%, with potential discounts via volume or VIP tier.
• Withdrawal Fees: Variable, depends on token and network.
• Deposit Fees: Crypto deposits are generally free (excluding network costs).

Regional Availability & Restrictions

HTX operates globally but **excludes certain regions** due to regulatory limitations. It is not available in some key markets:

• United States
• Mainland China
• Other restricted jurisdictions include Cuba, Iran, North Korea, Sudan, Syria, Venezuela, Hong Kong, Singapore, etc.

Why Choose HTX — Pros & Use Cases

Here’s why traders and crypto users might choose HTX — and how they use it:

• Pros: Large asset selection, advanced trading tools, robust liquidity, and a growing Web3 ecosystem.
• Use Cases:
  • Professional traders who need derivatives, margin, and deep markets.
  • Crypto holders looking to stake or earn yield.
  • Institutions and developers using API / custody services.
  • Web3 builders and incubators seeking research or project support.

Frequently Asked Questions (FAQs)

1. What was HTX before?
   HTX was formerly Huobi Global, rebranded in September 2023. :contentReference[oaicite:40]{index=40}
2. How many cryptocurrencies are available on HTX?
   HTX supports over 700 cryptocurrencies and more than 1,000 trading pairs. :contentReference[oaicite:41]{index=41}
3. Is HTX safe? Has it been hacked?
   While HTX has strong security features, it has suffered hacks (e.g. hot wallet in Sept 2023; HECO bridge in Nov 2023). :contentReference[oaicite:42]{index=42}
4. Are there regulatory risks?
   Yes — HTX has licenses in some regions (like Dubai), but lacks regulation by some major bodies (e.g. U.S., UK), and faces scrutiny. :contentReference[oaicite:43]{index=43}
5. How much are trading fees?
   Base maker/taker fees are around 0.2%, with reductions possible via VIP tiers or volume. :contentReference[oaicite:44]{index=44}
6. Which countries can’t use HTX?
   HTX is unavailable in certain jurisdictions, including the U.S., mainland China, and a few others due to regulatory restrictions. :contentReference[oaicite:45]{index=45}

Conclusion

HTX is a powerful and established cryptocurrency exchange that has grown far beyond its Huobi roots. It supports a wide range of assets, offers advanced trading instruments, and is building a broader Web3-focused ecosystem. However, its history of security incidents, regulatory challenges, and customer complaints means that users should carefully assess their risk tolerance. If you’re in a supported region, comfortable with the risks, and seeking a feature-rich platform, HTX remains a compelling choice — just remember to use strong account security and not to keep all funds on any exchange.