Huobi to Launch Huobi Hong Kong Crypto Exchange (2024)

FAQs

Is Huobi exchange closed? ›

Established in 2017, Huobi Korea cut ties with HTX — formerly known as Huobi Global — in January 2023. The shutdown of Huobi Korea follows the closure announcements of other smaller South Korean exchanges, Cashierest and Coinbit, in November.

Huobi is not available for US-based users. Luckily, they can use HBUS, Huobi's US strategic partner. This exchange charges fees as low as 0.1 percent for an entire month.

No, OKX is not available in the United States or Canada. Users in those countries still have access to Okcoin, however, which is owned by the same parent company.

Users from the following countries are not allowed to access all services provided by HTX: China, United States, Canada, Japan, Cuba, Iran, North Korea, Sudan, Syria, Venezuela, Singapore and Crimea.

Sun, who spent millions in 2019 to win a charity auction to dine with Warren Buffett, was recently charged with fraud by the SEC. To be clear, Sun has never been convicted of any crime, and for now, Huobi is still operating.

Anyone from mainland China, Taiwan, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Sevastopol and the U.K. (in the U.K., retail investors only) is prohibited from using the derivatives trading services provided by Huobi's website.

Huobi has said that it doesn't operate in China and that Chinese Internet Protocol addresses are “strictly prohibited” from accessing the platform, and that new customers are “from anywhere but China.” “Huobi has exited the Chinese market and barred Chinese users from signing up or logging in,” the company has said.

Can U.S. citizens trade on Huobi? The United States is not among Huobi's supported countries, so Huobi Global does not allow U.S. residents as customers.

Accordingly, the SC has issued a public reprimand against Huobi Global Limited, and Leon Li for operating illegally in Malaysia.

Not available to users in the United States: OKX is not available to U.S.-based users for regulatory and compliance reasons. Low liquidity for certain currencies: While it's a top-20 exchange, certain currencies trade with a low liquidity level.

Can US citizens use Bybit? ›

As stated in Section 12.3 of the Service Agreement, Bybit does not offer services or products to Users in a few excluded jurisdictions including the United States, the United Kingdom, mainland China, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled regions of Ukraine (currently including the ...

U.S. customers can trade on BitMart, but the exchange's Earn and Lending products are unavailable to users in the United States. What makes BitMart stand out among its peers is the large number of digital currencies and tokens offered on the platform.

While Pi is available for trading on Huobi, it is essential to note that there are still questions about its legitimacy. Pi Network's mainnet has not yet launched and is not affiliated with $Pi tokens listed on any exchange.

Huobi charges a flat fee of 0.20% for both 'takers' and 'makers'.

Reports say the exchange has ordered employees to accept USDT/USDC salaries or face dismissal. Some Twitter users claim Huobi has shut down all communication channels with displeased workers. Since mid-December, Huobi has witnessed $204.65 million in outflows.

If a cryptocurrency exchange shuts down one can either lose all the coins or withdraw them to another respective wallet which accepts those coins. However, it is advisable to always use wallets in which one is in control of the private keys. Exchanges shouldn't be used as wallets for a longer period of time.

FTX was a leading cryptocurrency exchange that went bankrupt in November 2022, amid allegations that its owners had embezzled and misused customer funds. Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion.