Huobi (now rebranded as HTX) is still usable, but has undergone significant changes from its peak. After being acquired by Baiyunet Capital in 2022 and renamed HTX, it's now operated by Justin Sun's team. Core functions remain intact — spot trading, futures, and C2C fiat trading are all available. However, user volume and trading volume have dropped significantly, and it's fallen out of the global top ten.
For users seeking more reliable alternatives, consider visiting Binance or other major platforms like OKX or Bybit.
What Is Huobi's Current Status?
Basic Operations
- Accessible: Yes, though some regions may need network tools
- Registration: Yes, new users can still register
- Trading: Yes, spot and futures trading functions work
- Deposits/Withdrawals: Yes, both work normally
- C2C Trading: Supported, but with far fewer merchants than before
Key Changes
- Rebrand: From "Huobi" to "HTX"
- Management change: Acquired by Justin Sun-affiliated company
- Volume decline: Daily volume dropped from tens of billions to single-digit billions
- User migration: Many users moved to Binance, OKX
- Ranking drop: From TOP 3 to TOP 15–20
- Security incident: 2023 hot wallet hack (~$8 million), users were compensated
Is Huobi Still Safe?
Positive factors:
- Years of operation with mature infrastructure
- Published proof of reserves
- Holds regulatory licenses in multiple countries
- Fully compensated users after the hack
Risk factors:
- Reduced transparency after management change
- Justin Sun's controversial reputation raises trust concerns
- Reduced user base means lower liquidity
- Multiple reports of layoffs
Overall, Huobi won't suddenly collapse, but risk is higher than top exchanges like Binance and OKX.
What Should Existing Huobi Users Do?
If You Still Have Assets on Huobi
- Don't panic-withdraw everything: Huobi is currently operational
- Gradually migrate: Transfer most assets to more mainstream exchanges
- Keep a small test amount: If you're used to Huobi's interface
- Back up records: Export trade history and account security information
Migration Steps
- Register on target exchange (Binance, OKX) and complete KYC
- Get the target exchange's USDT deposit address
- Initiate withdrawal from Huobi, select matching network (TRC-20 recommended)
- Confirm receipt before transferring the next batch
- Test with small amount first, then transfer larger amounts
Are There Better Alternatives?
| Exchange | Global Rank | Advantage |
|---|---|---|
| Binance | #1 | Highest volume, most features |
| OKX | #2-3 | Good Web3 ecosystem, great futures |
| Bybit | #3-4 | Strong copy trading, beginner-friendly |
| Bitget | #5-6 | Leading copy trading, fast growth |
| Gate.io | #7-10 | Most tokens, rich small-cap selection |
Try the Binance Official App (Apple users, refer to the iOS Installation Guide) to experience different platforms.
Security Reminders
- Don't put all eggs in one basket: Spread assets across 2–3 platforms
- Regular security checks: Ensure 2FA, passwords are working
- Follow official announcements: Monitor HTX's official updates
- Beware of fake support: Don't trust strangers claiming to help "migrate assets"
- Cold storage for large amounts: Move significant holdings to hardware wallets
Are Huobi and HTX the Same Platform?
Yes. Huobi officially rebranded to HTX in 2023. Old Huobi accounts work on HTX with all data intact.
Is the HT Token Still Valuable?
HT is still traded but has fallen significantly from historical highs. Holding HT still provides fee discounts, but investment value requires careful assessment.
Are There Fees for Withdrawing from Huobi to Other Exchanges?
Yes, blockchain gas fees apply. USDT-TRC20 withdrawal fee is about 1 USDT. Recommend transferring in one batch to minimize fees.
Is Huobi's C2C Trading Still Good?
C2C is functional but with fewer merchants and lower volume. Large C2C transactions may be harder to execute than on Binance or OKX.