Huobi Global, now rebranded as HTX, stands as a major player in the international digital asset exchange landscape. Founded in 2013, it has grown to serve a global user base with a comprehensive suite of trading and investment services. This guide delves into its history, features, and operational details.
What is Huobi Global (HTX)?
Huobi Global is a leading international digital asset exchange serving users in over 100 countries. The platform was originally established in China in 2013 and provides a wide array of trading and investment services, boasting a substantial daily trading volume that often exceeds billions of dollars.
As a centralized exchange (CEX), it supports a vast array of cryptocurrencies, including numerous initial coin offering (ICO) tokens. The platform lists over 500 different assets and more than 300 trading pairs. A key feature is its commitment to security, which includes an insurance policy to protect user assets, complemented by 24/7 customer support accessible through various channels.
Its ecosystem is diverse, offering services such as spot trading, margin trading, futures and derivatives trading, staking, and crypto loans. Active traders and investors also have access to customized trading solutions through its over-the-counter (OTC) platform.
History and Leadership
Who Founded Huobi Global?
The exchange was founded in Beijing in 2013 by Leon Li, who also serves as its CEO. Leon Li holds a degree in automation from Tsinghua University, which he obtained in 2013. Prior to launching Huobi Global, he worked as a computer engineer at Oracle, a major U.S. software corporation.
Where is Huobi Global Located?
The company's headquarters are located in Seychelles. It maintains additional offices in several global financial hubs, including Hong Kong, South Korea, Japan, and the United States.
Geographic Restrictions and Supported Countries
Huobi Global's services are not accessible to users from a specific list of countries due to regulatory constraints. It is crucial for potential users to be aware of these restrictions before attempting to use the platform.
Users from the following countries are restricted from accessing all services on Huobi Global:
China, the United States, Canada, Japan, Cuba, Iran, North Korea, Sudan, Syria, Venezuela, Singapore, and the Crimea region.
Furthermore, users from these countries are specifically prohibited from engaging in derivatives trading:
China, Taiwan, Hong Kong, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Sevastopol, Spain, the United Kingdom (retail users only), and New Zealand.
It is worth noting that users in Japan can access a localized version of the platform, Huobi Japan. The company has also announced plans to re-enter the U.S. market.
Supported Cryptocurrencies and Trading Pairs
Huobi Global offers an extensive selection of digital currencies and tokens for trading. The platform supports over 400 different crypto assets, encompassing all the major and most widely-used coins.
This includes popular cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Monero (XMR), in addition to its native tokens, Huobi Token (HT) and HUSD. Stablecoins, most notably Tether (USDT), are also fully supported.
As of August 2022, the list of supported fiat currencies for on-ramping and off-ramping includes: ALL, BGN, CHF, CZK, DKK, EUR, GBP, HRK, HUF, MDL, MKD, NOK, PLN, RON, SEK, TRY, UAH, HKD, AUD, and USD.
Fee Structure Explained
Huobi employs a tiered fee structure, meaning trading fees vary depending on a user's 30-day trading volume. This system is designed to benefit high-volume traders with lower costs.
The standard maker and taker fee is set at 0.20%. However, this rate is reduced once a user's trading volume surpasses $5 million. An additional discount is available for users who hold and pay fees using the platform's native Huobi Token (HT).
For professional traders, fees can be significantly lower. Maker fees can start as low as 0.0362%, while taker fees can begin at 0.0462%, depending on their VIP level and trading activity.
Leverage and Margin Trading
Huobi Global provides advanced trading options for those looking to amplify their positions.
Margin Trading: This feature is available for a variety of cryptocurrencies. Users can borrow funds to trade with leverage, with cross-margin supporting up to 3x leverage. Interest on these borrowed funds is calculated on an hourly basis.
Futures Trading: For those interested in derivatives, the exchange offers crypto futures contracts. Leverage on these contracts can be much higher, allowing up to 200x leverage for major pairs like Bitcoin and Ethereum contracts.
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Frequently Asked Questions
What is the difference between Huobi Global and HTX?
HTX is the new brand name for the exchange previously known as Huobi Global. The rebranding did not change the core services or operational structure; it was primarily a name change.
Is Huobi Global a safe exchange to use?
The platform employs several security measures, including an insurance fund to protect user assets and cold storage for the majority of funds. It also offers 24/7 customer support. However, users should always employ their own security best practices, like using strong passwords and enabling two-factor authentication (2FA).
How do I deposit fiat currency into my Huobi Global account?
The supported methods for depositing fiat currency (like USD or EUR) can vary by region. Typically, options include bank wire transfers, credit/debit cards, and third-party payment processors. Always check the "Buy Crypto" section on the platform for the most up-to-date options available in your country.
Can I use Huobi Global if I am a beginner?
Yes, the platform offers a user-friendly interface for basic spot trading, making it accessible for beginners. However, features like margin and futures trading are complex and carry a high risk of loss, so they areζ΄ιεζη»ιͺηδΊ€ζθ
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What is the Huobi Token (HT) used for?
HT is the native utility token of the exchange. Its primary uses include paying for trading fees at a discount, participating in token sales on the platform, staking for rewards, and voting on community initiatives.
How do I contact Huobi Global's customer support?
Support is available 24/7 through multiple channels, including live chat on the website and a dedicated support ticket system within your user account. The platform also has an extensive help center with articles addressing common issues.