HTX, formerly known as Huobi, is a leading cryptocurrency exchange that has solidified its position in the global crypto market, particularly in Asia, operating in regions like South Korea, Hong Kong, and Singapore. HTX initially started in China but relocated to Seychelles due to regulatory changes.
Fees
HTX has a large trading fee structure, which you can familiarize yourself with here. The percentage of trading fees depends on your trading volume or the amount of assets you hold on the exchange. You can also get additional discounts on trading fees if you pay them in HTX or TRX coins.
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How to use HTX
Step 1: Registration
To register, go to the HTX website: https://htx.com/
The registration procedure is simple, but you need to know one thing that may seem confusing. After you enter your email or mobile number and then enter your password, you need to manually click the “Send” button in the field where the verification code is entered, so that the system sends you the verification code. After that, you need to enter the verification code in the corresponding field.
In our opinion, it is a bit confusing, but not critical.
Step 2: Pass KYC (Optional)
One of the advantages of HTX is that you don't have to pass KYC. Without KYC, you can deposit up to the equivalent of $1,000 per day and withdraw no more than 0.06 BTC (this means not only withdrawals in BTC, but that the equivalent amount withdrawn should not exceed 0.06 BTC at the exchange rate at the time of withdrawal).
If you need to deposit and withdraw larger amounts, you will need to go through KYC.
Step 3: Fund your balance
You can top up the HTX crypto exchange with cryptocurrency (the most popular way) or use the P2P service. To be honest, P2P at HTX is not organized in the best way, and there are few exchange options, so it is better to use cryptocurrency funding.
Step 4: Cryptocurrency trading
You have registered and funded your balance; you can now trade on the spot or futures market.
Key features
Earnings
In HTX, there is an opportunity to earn money with your cryptocurrency. You can stake tokens and earn income from them (fixed and flexible options are available), as well as use the Shark Fin tool, which is actually an analog of bicurrency investments on other popular exchanges.
There is also a NewList tab, which means staking tokens that have recently been added. The advantage is that you usually get a high APY from these tokens, but the risk is that these are new tokens and they are a high-risk asset that can lose value, and you will suffer a loss in dollar equivalent. So be careful with new tokens.
Loans
You can read about how cryptocurrency loans work here. In simple terms, you can borrow cryptocurrency by using another cryptocurrency as collateral. This is convenient if you temporarily need other tokens but don’t want to exchange your existing ones.
There is a risk of liquidation in lending, so before taking out a loan, make sure to understand how it works in detail.
In our opinion, flexible lending is a more convenient option compared to fixed lending, as there are no penalties for late repayment. However, fixed loans sometimes offer significantly lower interest rates, so it's always worth considering and comparing both options carefully.
Copy Trading
Copy trading means that HTX system automatically opens the same trades as those made by the trader you choose to follow.
You simply select a trader, make a deposit, and your account begins to mirror their trades. These trades will close either when the trader closes them or when you decide to close them manually.
Trading bot
Trading bots in HTX are not good. Only the Grid Bot is available. Popular competitors (e.g., Binance) usually offer more trading bot options to choose from, as well as the ability to copy already customized trading bots.
Launchpool
To participate in launchpool, you need HTX tokens (the native token of the exchange). By participating in launchpool, you can simultaneously receive both income from staking and airdrops from new projects!
API
With the API, you can interact with the HTX exchange through your own systems or integrate it with other tools such as analytics platforms, trading bots, and more.
To summarize, HTX is a popular crypto exchange that has more than 47 million users worldwide. One of the main advantages is its reliability, as well as the absence of a mandatory verification procedure to start using the exchange. However, we believe that the design and functionality of the exchange are quite limited compared to world-renowned crypto exchanges. We have analyzed many crypto exchanges and believe that the developers need to work hard on the design, logic, and usability of the platform to match the top exchanges. If you have experience with HTX, be sure to leave your feedback!
open the site HTX (Huobi)
