- Note that digital assets launched on HADAX are typically still in early stages of development. As such, they could entail a higher degree of risk.
In order to be listed on a centralised cryptocurrency exchange, coins and tokens generally have to go through a strict evaluation process. While this is designed to help reduce the risks for crypto buyers and ensure that only legitimate, quality assets are listed, it’s often also a time-consuming process that struggles to keep pace with the rapidly expanding cryptocurrency market.
To combat this problem, the team behind Huobi has launched an autonomous token listing exchange. Known as the Huobi Autonomous Digital Asset eXchange, or HADAX for short, the platform lets its users vote on the tokens they would like to see listed and made available to trade.
So, how does the platform work and what benefits can it offer users? Let’s take a closer look.
|Product Name||HADAX (Huobi Autonomous Digital Asset eXchange)|
|Cryptocurrencies||BTC, ETH, 18T, BUT, LXT, CDC, UUU, AAC, CNN, UIP, UC, GSC, IIC, MEX, EGCC, SHE|
*VIP user discounts available
|Withdrawal Fees||Fees vary|
HADAX is a digital asset exchange where customers can use Huobi Tokens to vote for the currencies they want to see listed on the exchange. This approach is designed to meet two key goals: to give professional traders more options to choose from and to give digital asset startups the opportunity to connect with professional investors.
HADAX is a sub-brand of Huobi, a cryptocurrency exchange where users can trade more than 190 currency pairs. The platform is operated by Huobi Global Limited, a cryptocurrency financial services group that was established in China in 2013 but which is currently incorporated in the Republic of Seychelles.
Huobi Global offers cryptocurrency trading platforms to users in over 130 countries and has offices in Singapore, the United States, Japan, Korea and Hong Kong.
At time of writing (13/04/2018) HADAX listed the following cryptocurrencies in trading pairs with bitcoin (BTC) and Ether (ETH):
The process for listing or voting for a token on HADAX is as follows:
HADAX offers its platform to users in more than 130 countries around the world, including Indonesia. If you are unsure whether your country of residence is supported, contact the Huobi team for more information.
The only way to deposit funds into your HADAX account is via cryptocurrency transfer, for example by sending bitcoin or Ether.
HADAX offers the same fee structure as the Huobi exchange:
However, VIP users can access discounted platform fees with Huobi Tokens (HT). The table below outlines the fee discounts available:
|Membership level||Fee discount||Cost of membership level|
|VIP1||10% off||120 HT / month|
|VIP2||20% off||600 HT / month|
|VIP3||30% off||1,200 HT / month|
|VIP4||40% off||6,000 HT / month|
|VIP5||50% off||12,000 HT / month|
There are no fees for depositing cryptocurrency into your account, but withdrawal fees are charged. For example, bitcoin withdrawals attract a 0.001 BTC fee, while Ether withdrawals incur a 0.01 ETH fee.
As Hadax is a sub-brand of Huobi, the platform offers the same service and security features as Huobi. If you are already a user of Huobi, you can sign into HADAX using the same login details.
To register for an account you must:
You will also need to provide a photo of your passport to fully verify your account.
Huobi says that it stores more than 98% of digital assets in multi-signature cold wallets. Another factor in the platform’s favour is that while HADAX is only a relatively new offering, the company behind it has been operating since 2013.
Customer support is a key plank of Huobi’s service, and the platform provides 24/7 assistance to users. You can get in touch with the support team via live chat or email, while the answers to a handful of important FAQs are also available online.
At the time of writing, the author holds IOTA and XLM.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.