HTX (formerly Huobi): Review for TON Investors 2026

TL;DR. HTX is the rebranded Huobi (under Justin Sun’s effective management since late 2023). The exchange works with CIS users, supports TON in spot and futures, and offers ruble P2P. But on the balance of factors, HTX is a weaker choice for buying Toncoin than Bybit or OKX: thinner TON liquidity, higher fees (0.2% vs 0.1%), less stable P2P, weaker reputation after the 2022-2023 incident series. Use HTX as a backup or for specific scenarios (an altcoin only listed there, a specific fiat channel others don’t have). As a primary exchange for TON — we don’t recommend it.

Exchange overview

Huobi was founded in 2013 in China, long one of the largest Asian CEXs. After regulatory pressure in China in 2021, the exchange gradually moved to the Seychelles, then to the Caribbean, and in October 2023 announced a rebrand to HTX (allegedly “Huobi Token eXchange”). In parallel, the key shareholding/management figure became Justin Sun — founder of Tron, a longstanding subject of disputes around reserves transparency.

What this means in 2026:

• Technology and listings — largely the legacy of Huobi 2018-2022. A workable CEX engine, normal spot, futures, earn products.
• Corporate governance — opaque. Reserves are declared (Proof of Reserves), but independent audit is limited. Against Bybit (which after its 2025 hack went through public verification), HTX looks less verifiable.
• Regulatory profile — flexible. HTX has no licenses in major jurisdictions (US, EU are closed), but operates in Asia, CIS, the Middle East. This gives access to Russian users but doesn’t provide protection from sudden regulatory shifts.

For a TON buyer in the CIS region, this means: HTX is workable, but not first or second choice. If Bybit and OKX are inaccessible for some reason, HTX will close the gap.

How to buy TON step-by-step

Step 1. Registration and KYC. Open HTX.com (or via /go/?to=htx), register by email or phone, enable 2FA via Google Authenticator. Pass L1 KYC: passport + selfie. Verification usually 10-30 minutes, peak-hours up to 2 hours (slower than Bybit).

Step 2. Fund via P2P. Buy Crypto → P2P → USDT/RUB (or local pair). Payment methods: SBP, T-Bank (Tinkoff), Sberbank, Alfa — main. Less stable: Raiffeisen, Gazprombank. USDT/RUB has 50-150 active offers at any moment (vs 200+ on Bybit). Select a seller with ≥500 trades and ≥97% rating.

Step 3. Swap to TON on spot. Trade → Spot → TON/USDT. Book depth is shallower than Bybit/OKX. For purchases up to $5000 with a market order — fine. For larger sizes use limit orders and split entry into chunks.

Step 4. Withdraw TON to your wallet. Assets → Withdraw → TON → Network: TON (not EVM, not BSC). Address from Tonkeeper or MyTonWallet (/go/?to=tonkeeper or /go/?to=mytonwallet). Memo blank unless your wallet requires it. 2FA + email confirmation. TON mainnet arrival typically 1-5 minutes.

P2P specifics

P2P on HTX uses the same escrow model as Bybit/OKX: the exchange holds the crypto until the buyer confirms the fiat transfer. The differences are in details that become noticeable with regular use.

Payment methods. SBP, T-Bank, Sber, Alfa — stable. Raiffeisen and Gazprombank — periodically toggle off. VTB cards — barely used. Exotic methods appear and disappear (Ozon Bank, Unistream, virtual cards).

Rate. HTX P2P USDT/RUB rate is typically within ±0.2% of Bybit. P2P competition is high; sellers list on all platforms simultaneously.

Volume. Liquidity is thinner. Where on Bybit you can often buy $10K USDT from a single seller in one trade, on HTX you’ll often need to split across 2-3 orders. That’s +5-15 minutes on the process.

Disputes. User experience in 2024-2025 suggests HTX in disputes more often sides with the seller than Bybit does (Bybit’s stats are more balanced). Document everything: screenshots of transfers, chat history, the bank statement with timestamp.

AML risk on the fiat leg is the same as on any P2P: bank may delay the transfer, freeze the card, request documents. Don’t write “crypto”, “USDT”, “exchange” in payment comments. Split sums. Don’t transact daily with the same counterparty.

Spot, futures, what else

Spot. Pairs TON/USDT, TON/USDC, TON/BTC. TON/USDT depth — roughly $200-500K in the first 1% of price (vs $1-3M on Bybit). Enough for retail buyers, but too thin for active large-lot trading.

Derivatives. TONUSDT perpetual with leverage up to 75x on certain contracts (typically capped at 20x for retail). Funding rates usually comparable to Bybit. If you trade TON futures actively, HTX liquidity is 2nd-3rd after Binance and Bybit.

Earn. Flexible Savings on TON — typically 1-2% APR. Locked staking — 3-4% over 30-90 days. Returns are unremarkable; counterparty risk on HTX is higher than on Bybit or OKX. For meaningful amounts, don’t keep TON on the exchange.

HTX Wallet. Built-in custodial wallet with TON network support. Convenience comparable to Bybit Web3, but we rate security lower due to HTX’s overall reputation. Don’t use for significant amounts.

New token launches (Primelist). Sometimes TON-ecosystem projects appear — STON.fi (historically), NOT, DOGS. New listing quality on HTX is traditionally lower than on Binance/Coinbase. Be cautious.

Fees and spread

Full cost picture for buying TON via HTX:

• P2P USDT/RUB: 0% explicit, 0.5-1.5% spread to market rate
• Spot TON/USDT: 0.2% taker, 0.2% maker baseline. With HT token — down to 0.1%. At VIP tiers — down to 0.04%/0.06%
• TON withdrawal: empirically 2024-2025 around 0.1 TON
• Convert feature: 0.5-1.5% spread — better to use spot

End-to-end on $500. P2P (~$5 spread) + spot ($1 fee) + withdraw ($0.5 network) = ~$6.5, or 1.3%. That’s higher than Bybit (~1-1.2%) and OKX (~1-1.3%). A 0.1-0.3% delta is small but adds up on regular purchases.

Security and risks

Historical incidents. Huobi/HTX has been through several notable events: 2014 hack (minimal), partial withdrawal restrictions 2018-2019, issues with Justin Sun lending pool in 2023, HTX Eco Chain (HECO) hack 2023 (~$8M). All losses were covered, the exchange operates, but the incident track record is worse than Bybit’s (minus February 2025) or OKX’s.

Reserves and transparency. HTX publishes Proof of Reserves, but methodology is less transparent than Kraken’s or Bitget’s. There’s always a percentage of users sceptical about HTX’s solvency — factor this into how much you choose to hold there.

Regulatory risk. HTX has no US/EU licenses. Legal entity in the Seychelles. In case of serious problems — litigation would be difficult, depositor protection essentially zero. Bybit is formally in a similar position (Dubai), but its reputational buffer is wider.

Operational risks. Russian-language support is slow (hours to days). API is stable, but the WebSocket feed has a history of interruptions. For retail buyers this is not critical; for algo trading, choose elsewhere.

What to do. Buy TON → withdraw to your own wallet immediately. If you trade futures actively, keep only the margin balance on the exchange, not your main portfolio.

Comparison with competitors

HTX vs Bybit. Bybit wins on almost every metric: TON liquidity higher, fees lower (0.1% vs 0.2%), P2P more stable, reputation better, support faster. HTX wins only in narrow scenarios — if your Bybit account is blocked or you need an alt that isn’t on Bybit.

HTX vs OKX. Similar picture: OKX is better on all main criteria. HTX’s advantages are invisible to a retail TON buyer.

HTX vs MEXC. Closer to parity. MEXC has more altcoins and better access to new listings; HTX has a more established brand (with rough edges). For TON specifically — both are comparable.

HTX vs Binance. Binance is stronger technically and on liquidity, but Binance in 2024-2025 wound down most CIS operations. HTX remains accessible in that sense.

Detailed comparison: Bybit vs OKX vs MEXC for buying TON and Exchanges where Toncoin trades — top platforms 2026.

Who it fits

Fits:

• Those for whom Bybit or OKX is unavailable for some reason (blocked account, specific region, technical issues)
• Those who trade altcoins not listed elsewhere and want to buy TON in the same place
• Long-time Huobi users with history and accumulated VIP tier

Doesn’t fit:

• Most retail TON buyers from CIS — Bybit or OKX is a better choice
• Those who want minimum fees — they’re higher here
• Those sensitive to exchange reputation risk

Bottom line

HTX in 2026 is a workable but not first-class exchange for buying TON. Technically the pieces are there: spot, futures, ruble P2P, native TON network support. But with Bybit and OKX doing all the same things slightly cheaper, slightly more reliably, and slightly more conveniently, HTX occupies a “backup” position, not a primary one.

If you’ve decided to try it — open an account here: /go/?to=htx. Pass KYC, don’t keep significant amounts on the exchange, withdraw TON to Tonkeeper or MyTonWallet right after purchase.

If you’re choosing between HTX and alternatives — read our complete guide on where to buy TON in Russia and the CEX comparison for buying TON. Most likely the final choice will be Bybit or OKX.