What is HTX, how does it work and its advantages in 2024?

 What is HTX?

HTX is one of the global cryptocurrency exchanges at the forefront. It was designed in view to help new and professional traders alike. Founded in 2013, in Beijing, this exchange rose to become one of the global leaders in the cryptocurrency market, having millions of users worldwide.

It is particularly known to focus on security and ease of use, making it one of the favorite platforms among cryptocurrency traders. Another reason that HTX comes top of mind to users is its decentralized governance model, which allows users to participate in key decisions concerning the platform.

How does HTX work?

HTX acts as an exchange platform through which, basically, users are allowed to trade in cryptocurrency. Here is how it works:

Registration and Verification:

Link register: https://www.htx.com/

A user needs to sign up to the platform and undergo an identity verification process in compliance with security regulations.

Deposit of Funds:

After opening an account, it needs to be financed by depositing cryptocurrencies or fiat money.

Trading Interface:

HTX provides an easy and intuitive interface through which one could view charts for prices, execute buying and selling orders, and manage assets.

Trading Operations:

A user can trade both spot and margin, which increases his potential earnings, although at an increased risk.

Withdrawal of Funds:

After making the above-mentioned transactions, the user is allowed to withdraw funds to external wallets or bank accounts.

Advantages of HTX?

Among the key advantages of the trading platform are low commissions, an extensive list of cryptocurrencies, good security for users, ease of use of the interface, and a great mobile application. Let's talk about everything in order below.

Low Fees:

HTX offers one of the most competitive fee structures in the market. It charges 0.2% on spot trading, both for makers and takers. When users use Huobi Token to pay for fees, this drops to 0.07%. Further fee discounts are given based on trading volume for large traders and institutional investors.

Wide Variety of Cryptocurrencies:

HTX is among the most diversified platforms in the world, having more than 350 cryptocurrencies and trading pairs. Users can trade famous assets—Bitcoin, Ethereum, and Tether—along with really rare tokens, which are hard to find on other exchanges. This makes it an important advantage for those who want to diversify a portfolio of cryptocurrency assets.

Security:

 There are a number of reasons that guarantee a high level of protection:
HTX gives maximum attention to the security of each user and his or her assets. More than 98% of all user funds are kept in "cold" wallets, which protects them from possible attacks by hackers. This platform operates a multi-level safety system, including two-factor authentication and multi-signature for transactions related to withdrawal, with regular security audits. In 2018, Huobi launched its own insurance fund that is used to cover losses among users in the case of force majeure events. The high level of safety and confidentiality of the platform makes it also very attractive to huge market players. 

Easy-to-use Interface:

The-HTX interface is user-friendly and easy to use by any customer, be it a professional with many years of experience or a person without any experience at all. The main page shows the main trading pairs, the latest news, and updates with quick links to report key functions: depositing, trading, and withdrawing funds. On the trading terminal charts and technical analysis tools are built-in. This enables a trader to promptly define the situation in the market and make appropriate decisions.

Mobile Application:

The HTX mobile app is available on iOS and Android, supporting all the features from its web version—spot and margin trading, asset management, P2P platform, and many more. The in-app developments are frequent, and users seem very pleased with the stability and ease of use of this app.