Huobi Global

Cryptocurrency exchanges continue to shape the landscape of digital asset trading, with HTX (formerly Huobi Global) standing as one of the industry's veterans. I've followed this platform since its early days, and what a journey it's been! Let's explore how this exchange operates, what it offers, and whether it might be the right fit for your crypto trading needs.

A Crypto Exchange Reborn as HTX

Remember when everyone called it Huobi? Well, things change. In September 2023, the exchange officially rebranded to HTX, signaling a fresh chapter in its decade-long history. This wasn't just a cosmetic change—the rebrand came alongside strategic partnerships with TRON and Poloniex as part of a global expansion strategy.

I've watched several exchanges try to reinvent themselves over the years, and honestly, HTX's approach seems more calculated than most. The exchange was initially founded in 2013, making it practically ancient by crypto standards. It's like that friend who's been trading since Bitcoin was worth pennies—they've seen it all.

Trading Features and Capabilities

HTX isn't playing around when it comes to trading options. The platform supports over 600 cryptocurrencies—far more than what most average users will ever need. For spot trading enthusiasts, the minimum order size for USDT pairs is 10 USDT, which keeps the barrier to entry reasonably low.

What really caught my attention was their derivatives offering. According to Investopedia's review, verified users can trade derivatives with no limits. This is pretty generous compared to some competitors who restrict derivative access or impose tight caps.

But not everything's perfect in derivatives land. One experienced options trader shared on YouTube that HTX's options pricing can be up to three times higher than other exchanges, with limited features that primarily allow only buy-side options. If you're into complex options strategies, you might find this frustrating.

Deposit and Withdrawal Experience

Here's where things get a bit complicated. HTX maintains a tiered system for withdrawals based on your verification level. If you're the privacy-focused type avoiding KYC, you're limited to withdrawing just 0.06 BTC per day. That's honestly not much if you're dealing with significant amounts.

On the flip side, if you complete verification, withdrawal limits jump dramatically to 100 BTC daily. Talk about an incentive to share your ID!

For fiat access, HTX offers several options. European users can make EUR deposits via SEPA, with monthly limits reaching 30,000 EUR for those with advanced verification. They also support credit card deposits through Visa/Mastercard via Simplex.

One user review I watched mentioned withdrawal issues as a potential pain point. This isn't uncommon in crypto exchanges, but definitely something to keep in mind.

Security Measures and Past Incidents

Let's address the elephant in the room. In September 2023, HTX suffered a $7.9 million hack. The company's response was to offer the attacker a 5% white-hat bounty—essentially saying "keep some if you return the rest." Not exactly reassuring, right?

That said, HTX does implement significant security measures. They maintain a 20,000 BTC security reserve fund and store user assets in multi-signature cold wallets. One user review highlighted the platform's commitment to security with its combination of cold/hot wallet storage and insurance fund.

Regulatory Landscape and Compliance

HTX has had a bumpy regulatory journey. In February 2024, they withdrew their Hong Kong crypto license application, reportedly due to the Securities and Futures Commission's strict regulations. This came after facing regulatory action in Malaysia for operating without authorization.

They do hold a Distributed Ledger Technology license in Gibraltar, which provides some regulatory coverage, but their global regulatory situation remains complex.

Ownership and Token Performance

In 2022, HTX was acquired by About Capital, with crypto entrepreneur Justin Sun joining as an advisor. Sun's involvement seemed to boost confidence in the platform, as Huobi's native token (HT) surged 75% in 2023 following his "empowerment announcement."

Earning Opportunities and Additional Features

Beyond trading, HTX offers various ways to potentially earn passive income. A daily trader mentioned being impressed with Huobi Earn for passive income opportunities. These typically include staking, crypto loans, and yield products—similar to what you'd find on platforms like Binance or Coinbase, but with their own specific rates and terms.

User Interface and Experience

The platform's interface receives mixed reviews. It's described as clean but with a learning curve for beginners. Another user noted that while the exchange supports an impressive number of cryptocurrencies, the platform might be overwhelming for complete beginners.

The Bottom Line: Is HTX Right for You?

After watching HTX evolve over the years, I'd say it's a solid option for intermediate to advanced traders, especially those focused on Asian markets where it maintains a strong presence. The extensive cryptocurrency selection and derivatives offerings are impressive, while the rebranding and Justin Sun connection have breathed new life into the platform.

However, regulatory uncertainties, past security incidents, and some user experience issues suggest caution is warranted. If you're brand new to crypto, there are probably more beginner-friendly options out there. And if options trading is your thing, you might want to look elsewhere given the limitations mentioned by experienced traders.

As with anything in crypto—do your own research before jumping in. And maybe start small until you're comfortable with how everything works. Because let's face it, in the wild world of crypto exchanges, even the veterans can sometimes surprise you.