If you are looking for one or more alternatives to HTX It is important to consider key aspects to guarantee security and reliability. In this comparison, we will analyze Bit2Me and HTX, two recognized exchanges in the market.
Both platforms offer products and services tailored to cryptocurrency beginners and experts, covering all needs. We will analyze regulation, security of funds, cybersecurity, usability, support and services offered. This way you can make an informed decision when looking for an alternative to HTX to trade. If you are thinking of changing, here we leave you one exclusive promotion to register at Bit2Me easily and quickly.
Five comparisons between HTX and Bit2Me
Regulation and compliance
In this case, Bit2Me is an exchange based in Spain, which means that it complies with Spanish and European regulations, which guarantees legal and transparent operations. In addition, it offers personal data protection according to the GDPR and prevents money laundering through KYC and AML/CTF standards.
Another fundamental point in Bit2Me's regulatory compliance can be seen in the process of compliance with the requirements of the MiCA Directive. Currently, Bit2Me is working to comply with all MiCA regulatory requirements which would make it the first cryptocurrency exchange to achieve this goal. Additionally, Bit2Me users also have legal consumer protection thanks to the fact that the exchange has the proper registrations and licenses for handling electronic money granted by the Bank of Spain and its partner Pecunia. This ensures compliance with banking regulations and protection of funds.
Compared, HTX is a well-known cryptocurrency exchange that is based in Seychelles. This means that HTX is located in one of the best-known tax havens in the world. A place where regulation is clearly aimed at protecting companies rather than their users, where there are no data protection regulations, no operational licensing, and no financial transparency. Because of that, HTX offers few guarantees as a cryptocurrency operator, something that we will see reflected in other points of this comparison. Above all, in terms of security, custody, insurance of funds, as well as respect for our privacy and personal data.
Security of funds
As for the security of funds, you will like to know that Bit2Me cares about the security of funds and has implemented powerful measures to protect them. First of all, Euro funds of Bit2Me users are stored in separate accounts in an entity regulated by the Bank of Spain. This protects 100% of said funds in the event of bankruptcy or hacking.
This protection of fiat funds is possible thanks to the fact that Bit2Me uses an electronic money entity, known as Pecunia Cards EDE S.L. This entity deposits the funds in a Safeguard Fund regulated by Royal Decree-Law 19/2018.. This Safeguard Fund ensures that user funds are protected and available at all times, providing up to 100% protection for deposited funds. In addition to this, there is insurance against theft that protects up to 150 million euros.
When it comes to cryptocurrency protection, Bit2Me follows a very careful storage process. This process consists of a series of security measures ranging from secure storage using multi-signature wallets and a secure access scheme that includes the use of HSM security modules and more than a hundred security measures. All this along with a job with Ledger Enterprise, a company specialized in secure cryptocurrency storage.
Finally, to ensure transparency, Bit2Me performs security audits by Hacken and financial audits through RSM, including Proof of Reserves. All of these measures together are created to provide solid protection for user funds.
On the HTX side, we have a totally different story. First of all, HTX does not provide any information or guarantees to fiat currency funds. This is because the exchange does not offer any clear information about the protection of users' fiat funds.
Regarding the security of crypto funds, they are protected by a home-made solution known as HTX Custody and a security fund (SAFU Fund) that was recently created after the $8 million hack in September 2023. However, this SAFU fund does not indicate the total protection and there is no clarity on how it works..
Regarding auditability and the use of Proof of Reserves, HTX does not offer us great transparency either. First of all, because the Reserve Proof is done in-house through HTX Custody, which forces you to trust the same company twice. Second, the test is only available to its users. In Dune Analytics, the company 21co has done its own analysis of HTX reserves, but the disclaimer is clear: There is no way to guarantee that the data provided is correct, as HTX has little financial clarity in this regard.
Cybersecurity
When it comes to cybersecurity, Bit2Me offers robust measures to protect users' assets. In particular, Bit2Me stands out for never having been hacked, making it one of the most secure platforms on the market.
In addition to this, Bit2Me has also implemented a series of security measures, including:
- Highly secure cold storage for cryptocurrencies.
- Using HSM (Hardware Security Module) technology to protect cryptocurrency wallets.
- Using multi-signature wallets to prevent a single administrator from having control over exchange funds.
- Two-factor authentication (2FA) and role-based security management.
- Use of SSL certificates to encrypt connections between users, the exchange and services.
- Robust testing policy, penetration testing, and frequent security audits.
- Recognized security certifications, such as ISO/IEC 27001, ISO 22301, PCI DSS, KYC/AML, CSA STAR and DORA.
For its part, HTX was recently hacked in 2023 September, which led to the exchange losing funds from its users. Later in November of 2023, the exchange was hacked again, more precisely its private network Heco Chain, for an amount greater than 100 million dollars. Although in both cases, the stolen funds were replaced by the exchange, the two security flaws make it clear that in terms of security, HTX's controls are insufficient to avoid these situations.
Regarding security certifications, HTX indicates that it meets the requirements of ISO/IEC 27001, but lacks other security certifications. In addition to this, HTX offers little information in its support space to clarify any doubts that may exist in this section.
In short, Bit2Me offers an impeccable track record in cybersecurity, advanced security measures, and recognized security certifications. This makes it a safe option for those who trade cryptocurrencies. Users can have peace of mind knowing that their assets are protected on the Bit2Me platform.
Platform Usability and Support
In terms of usability and support, Bit2Me and HTX offer a variety of features and services, but they differ in some aspects.
Usability
Bit2Me has an intuitive and easy-to-use interface. Its clean and simple design allows intuitive navigation for users, especially beginners. HTX, on the other hand, can be more complex due to its wide range of features and options. This complexity can be overwhelming for less experienced users.
Support
Both Bit2Me and HTX offer support on multiple channels such as live chat, email, and phone. However, Bit2Me stands out by offering support in 8 languages, making communication easier for users from different regions. On the other hand, HTX only offers support in English, Chinese, Russian, French, Spanish, Turkish, Vietnamese, Japanese,
Portuguese, Italian, Ukrainian and Indonesian.
Help Resources
Bit2Me has an online help center that offers a wide range of resources, such as step-by-step guides, support articles, and videos. These resources are especially useful for resolving common questions and problems. In contrast, HTX's help center is more limited in comparison, which can make it difficult to find quick solutions.
In short, while Bit2Me stands out for its intuitive interface, multilingual support and extensive help resources, HTX can be more complex and offers more limited support. The choice will depend on individual preferences and the user's level of experience.
Accepted cryptocurrencies and services provided
Finally, we detail the set of cryptocurrencies and services provided by both exchanges. First of all, we must keep in mind that, generally speaking, Bit2Me and HTX offer users the ability to buy, sell and exchange cryptocurrencies. In this sense, both exchanges have the same possibilities, simply changing the asset support section.
For example, Bit2Me stands out for its wide range of cryptocurrencies, with over 240 available, including main and altcoins. This is complemented by support for two fiat currencies (USD and EUR). While HTX offers support for more than 700 cryptocurrencies and supports a total of 12 fiat currencies. Certainly, at this point HTX offers a wider range of cryptocurrencies and fiat, but remembering, that in fiat, HTX does not offer any guarantees and that in cryptocurrencies, its SAFU fund is unclear.
Regarding trading, Bit2Me offers its professional service through Bit2Me Pro. Thanks to this service, Bit2Me users can operate with more than 100 cryptocurrency pairs, using a simple, clear and high-performance interface. On the other hand, HTX offers a professional trading service with just over 700 cryptocurrency pairs, which is perfect for experienced users.
However, there are differentiating points between both platforms. For example, HTX offers services such as P2P, futures and perpetual, services that may interest many users, but which have strong counterparty problems. Thus, for example, the P2P service exposes the exchange to the arrival of funds of dubious origin, which, together with the poorly regulated nature of the exchange, exposes the user with marked cryptocurrencies to danger.
Trading options and advanced services
In the case of perpetuals and futures, something similar happens, given that these types of operations are advanced financial tools, little known to most users and given the low regulation, they expose users to risks. In contrast, Bit2Me does not offer these services due to regulations and as a choice to avoid unnecessary risk exposure for its users.
Another differentiating point in Bit2Me offers a global tool to calculate tax payments, known as Bit2Me Tax. In addition, users have the possibility of contacting specialists in the sector. This is something that HTX does not offer and only allows the user to connect third-party tools for this task.
Additionally, Bit2Me offers access to new projects through Bit2Me Launchpad, something that HTX also offers. However, Bit2Me's project selection process is much more meticulous, which seeks to maintain the security of users when participating in new ICO-type projects.
Finally, Bit2Me offers two services: its staking service, Bit2Me Earn, and the ability for users to request a debit card to use their cryptocurrencies (Bit2Me Card). In this way, Bit2Me allows its users to stake more than 38 cryptocurrencies, and the ability to use cryptocurrencies in any physical or online business, globally through the debit card. For its part, HTX offers staking service limited to 18 cryptocurrencies, and does not have a debit card due to its regulatory problems.
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As you can see, Bit2Me once again stands out for offering not only a complete and tightly integrated suite of cryptocurrency services. But also for offering its users clear guarantees of legal and regulatory protection, compared to options like HTX. We are not only talking about compliance with the law, but also about quality standards that aim to make users feel and be safe, especially against bad actors and hacks that are so common on other platforms, and of which HTX already has a history of failures in that regard. sense.
Thus, the message is very clear: Bit2Me stands out as the best option for novice or advanced users to choose a platform that meets their needs in managing their digital assets, with total security and transparency.
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