What Is HTX Token (HT) How It Works & Where To Buy It?

HTX is the 5th largest centralized exchange in the world. HTX Token (HT) is the native token of the HTX Global Exchange.

HTX Token allows token holders access to trading discounts, yield earnings on the HECO chain, and exclusive access to newly listed tokens on HTX Prime.

The HT token is currently the 51st largest cryptocurrency in the world by market cap.

How HTX Token (HT) Works

HTX Global is one of the largest cryptocurrency exchanges in the world. The crypto exchange frequently exceeds more than $1 billion in daily trading volume and is home to more than 400 crypto assets.

The HTX group is headed by Li Lin, who is ranked as one of the richest men in the world and has amassed a personal net worth of $1.1 billion. The success of the HTX platform over recent years has aided in the popularity and price appreciation of the HTX token.

The HTX token is an ERC20 (Ethereum network) token that was airdropped to HTX exchange users in 2018. It has quickly grown to become one of the largest exchange tokens in the world and millions of HTX users trade HT tokens every day.

There is a total supply of 500 million HTX tokens – 300 million were airdropped to HTX users, 100 million were used for platform rewards and the remaining 100 million were kept for the team.

What makes HTX tokens especially appealing to retail investors, is the burning of the tokens. Every month HTX uses 20% of its revenues to purchase HTX tokens and burn them (remove them from the supply). This drastically reduces the number of tokens available, making HTX tokens more scarce, and in turn, drives up the HTX token price.

What Is HTX Token (HT) Used For?

The HTX token has multiple utilities which make it an appealing option for individuals to buy HTX token (HT). Some of the most notable use cases for HTX tokens include:

• Trading Discounts – Individuals who hold HTX tokens on the HTX exchange receive 65% trading fee discounts on the platform. Generally, this is one of the many reasons individuals purchases exchange tokens.
• Early Token Access – Holding HTX tokens in HTX prime gives users early access to tokens before they get listed on exchanges. Users that agree to lock up their tokens in HTX’s PrimePool receive tokens from projects that are being listed – how many tokens an individual receives is proportionate to the amount of HTX tokens they stake and the duration the tokens are staked for.
• HECO Chain DeFi Rewards – Individuals can use their HTX tokens as a decentralized digital asset on the HECO Chain. They can participate in various DeFi products including staking, liquidity pools, and yield farming – this allows HT holders to earn rewards innovatively.

The HT token has performed particularly well since its listing in 2018 and has amassed a market cap of $1,08 billion.

Where To Buy HTX Token (HT) Tokens

HTX Token (HT) is among the most frequently traded tokens on the HTX Global exchange.

HT tokens are available to purchase on most centralized crypto exchanges. Before you’re able to purchase HT, you’ll need to deposit fiat money onto an exchange, and sequentially HT tokens will be credited to your HT digital wallet (ERC-20) on the exchange.

The crypto exchanges below are the safest place where you can buy, sell and store HT tokens.

Five of the most popular crypto exchanges are:

1. Binance
2. Coinbase
3. KuCoin
4. HTX
5. MEXC

All of the above exchanges allow users to buy, sell, transfer and store HT tokens in a digital wallet on the specific exchange. You can also transfer HT tokens between any of the abovementioned exchanges because they all have HTX Token wallets.

Alternatively, individuals wanting to make use of the HECO Chain can transfer their HT tokens (via the ERC-20 network) from a centralized exchange to a HECO wallet.

Once HTX tokens have been transferred to your wallet, you can easily connect your digital wallet to the HECO Chain platform, and start earning yields from the various DeFi products available on the platform.

The HTX ecosystem is rapidly expanding and more protocols are being added – allowing users to explore innovative DeFi products that weren’t previously available.

FAQs About HTX Token (HT)

How long has HTX Token (HT) existed?

HTX Token was launched in January 2018. The HT token was listed at $1.40 and surged to a high of $34 by May 2021.

The HTX Global network experienced its highest trading volume in May 2021, where daily trading volume frequently exceeded $10 billion in a 24h period.

HT token holders also saw extreme token price appreciation during this period.

What’s controversial about HTX Token (HT)?

When researching various exchange tokens it’s important to consider the utility of the token, the cryptocurrency exchange’s credibility, and other notable factors surrounding the project.

Let’s take a look at the top two controversies surrounding HTX Token (HT):

• Restrictive Trading – The HTX Global exchange has rapidly become one of the most popular cryptocurrency exchanges in the world. Millions of users trade on the platform daily, and hundreds of coins are listed on the exchange. The majority of HTX Token’s (HT) trading volume takes place on the platform.Because the HT token is the native exchange token of the platform, there is little benefit for other cryptocurrency exchanges to list the token. Therefore, the trading volume growth of the HT token is limited.
• Limited Utility – The utility of HT tokens is restricted mainly to the HTX platform and HECO chain. For example, users that hold HT tokens on an exchange other than HTX Global don’t receive any trading discounts. Users that don’t stake HT tokens in HTX PrimePool don’t get early access to tokens.Furthermore, the utility of HTX Token is not likely to expand further than the HTX ecosystem because there is not enough incentive for HT tokens to be used across multiple centralized and decentralized exchanges.

How many HTX Token (HT) tokens are there?

At the time of writing, HTX Token has a circulating supply of 154,771,858.25 HT (31% of the total supply).

The total supply of HTX Token (HT) is 500,000,000.

There max supply of HTX Token (HT) is 500,000,000.

Can HTX Token (HT) be mined?

HTX Token is not a mineable cryptocurrency. HT token is an exchange token and a tradable ERC-20 governance token and that isn’t unmineable.

However, individuals can earn HT tokens through farming, and staking on the HECO Chain platform.

The HTX Global centralized exchange also offers rewards for users who lock up/ stake their HT tokens on the exchange.

What is the market cap of HTX Token (HT)?

The market cap of HTX Token (HT) is: the total amount of coins in circulation x the current market price of HT.

HTX Token (HT) Market Cap = 154,771,858.25 HT x $7,03 = $1,09 billion (51st largest market cap).

The growth of the HTX Global platform can be directly linked to the dramatic price appreciation of the HT token. The native exchange token continues to perform well amidst the current bearish sentiment – HTX Token is trading at more than 5x its January 2018 listing price.

The market cap fluctuates according to circulating supply and market price.

Biggest Competitors Of HTX Token (HT)

Centralized exchanges, rely mainly on trading fees to generate revenue. This is especially important for HTX Token because 20% of the revenues generated by HTX Global is used to buy HT tokens which are then burned.

The CEX space is incredibly competitive, and CEXes need to continuously remain innovative.

Some notable competitors of HTX Global and HT are:

• Binance (BNB)
• Coinbase
• Crypto.com (CRO)
• KuCoin (KCS)

What Are The Future Plans For HTX Token And HT Token?

HTX Global continues prioritizing the growth of its platform both in terms of user adoption and enhanced functionality. The platform already hosts hundreds of cryptocurrencies and has millions of daily users – it has announced its intention to bolster growth and onboard more crypto consumers to the platform.

The growth of the HTX Global platform is likely to have a positive effect on the price of HT tokens. The more utility HTX can garner for HT tokens, the more appeal the cryptocurrency will have.

Pros and Cons of HTX Token and HT Token

Pros:

• One Of The Largest Crypto Exchanges – HTX is one of the largest cryptocurrency exchanges in the world. This is beneficial for the HT token because millions of people are exposed to the HT token daily – this bolsters the likelihood of improved retail adoption.
• Limited Supply – The HTX Token has a limited supply of 500,000,000 tokens.
• Trading Fee Discounts – HTX token holders receive a 65% trading fee discount on the HTX Global exchange.
• HTX Global Has Hundreds Of Cryptocurrencies Listed – The platform has grown exponentially in recent years – it has hundreds of crypto assets that can be traded. The wide range of assets available is one of the major reasons retail investors choose the HTX Global platform.

Cons:

• Limited Trading – One of the major cons surrounding HTX Tokens is that there aren’t too many places where the tokens can be traded.
• Loss Of Utility – If for any reason, the HTX Global exchange were to be exploited it would likely lead to the loss of utility for the HTX Token. The HT token is an exchange token and its success is greatly linked to the success of the HTX Global platform.