If you're looking at Hpdex as a place to trade crypto, you're not alone. But here’s the thing - most people don’t know what they’re getting into. Unlike big names like Uniswap or PancakeSwap, Hpdex doesn’t show up in mainstream crypto discussions. It doesn’t have Reddit threads full of user stories, no YouTube deep dives, and no reviews on Trustpilot. Yet, it’s listed on CoinMarketCap, has a tax guide on Crypto Tax Calculator, and claims to be a community-driven decentralized exchange built on the HPB Blockchain. So is it legit? Is it worth your time? Let’s cut through the noise.
What Is Hpdex, Really?
Hpdex is a decentralized exchange (DEX) that runs on the HPB Blockchain. It’s not built on Ethereum. It’s not on Solana. It’s on HPB - a lesser-known blockchain that’s been around since 2018 but never gained major traction. Hpdex positions itself as a cross-chain DEX with executable transaction prices, meaning it tries to give users better trade execution than typical AMM models. But here’s the catch: there’s almost no public data to back that up. The platform’s native token is HPD. Total supply? Fixed at 20 million. No inflation. No minting. That’s rare in crypto, and it’s either a strength or a red flag - depending on what you believe. Some projects lock supply to create scarcity. Others do it because they can’t raise more funds. With Hpdex, we don’t know which. Unlike Apex or Hyper Liquid, which offer futures, spot trading, and even centralized exchange-like interfaces, Hpdex appears to be a simple AMM DEX. No order books. No margin trading. Just swap tokens. If you’re looking for advanced features, you won’t find them here.How Does Hpdex Compare to Other DEXs?
Let’s put Hpdex side-by-side with exchanges you’ve probably heard of:| Feature | Hpdex | Uniswap (Ethereum) | PancakeSwap (BSC) | Apex |
|---|---|---|---|---|
| Blockchain | HPB MainNet | Ethereum | Binance Smart Chain | Layer 1 (proprietary) |
| Token | HPD (20M fixed supply) | UNI | CAKE | APEX |
| Trading Types | Spot only | Spot only | Spot, yield farming | Spot + Futures |
| Cross-chain | Planned (Ethereum integration) | No | No | Yes |
| KYC Required | No | No | No | No |
| Community Activity | Very low | High | High | Medium |
| Tax Reporting Supported | Yes | Yes | Yes | Yes |
What stands out? Hpdex has no trading volume data. No user count. No social media buzz. Yet, it’s on Crypto Tax Calculator’s list. That means people are using it - enough to generate taxable events. But who? And why?
Is Hpdex Safe? No Audits, No Transparency
Security is the biggest question. Every major DEX publishes audit reports. Uniswap has been audited by Trail of Bits. PancakeSwap by CertiK. Hpdex? Nothing. No public audit. No GitHub activity logs. No team members listed. The website doesn’t even show a whitepaper. The fact that it’s not on scam lists like DFPI’s Crypto Scam Tracker or TechForing’s fake exchange list is a small comfort. Not being flagged isn’t the same as being verified. Think of it like a restaurant that isn’t shut down by health inspectors - that doesn’t mean the food is good. It just means no one complained yet. If you’re using Hpdex, you’re trusting code you can’t verify. You’re sending crypto to a contract with no public history. That’s risky - even for crypto veterans.
Who Is Hpdex For?
This isn’t a platform for beginners. It’s not for traders who want fast swaps or low fees. It’s not for people who want to earn yield or stake tokens (we don’t even know if HPD can be staked). Hpdex is only for two types of people:- Those who already hold HPB-based assets and need to trade them
- Speculators betting on the Ethereum integration
The Ethereum Integration: Hope or Hype?
Hpdex says it’s planning to integrate with Ethereum. That sounds promising. But “planning” doesn’t mean “in progress.” There’s no roadmap. No GitHub commits. No team announcements. No timeline. Compare that to other DEXs. Uniswap V3 launched with a detailed technical paper, developer docs, and a public testnet. Hpdex’s Ethereum plan reads like a footnote on a CoinMarketCap page. That’s not a sign of progress - it’s a sign of uncertainty. If Hpdex does launch Ethereum support, it’ll be a major upgrade. But until then, it’s a niche tool for a tiny ecosystem. Don’t expect liquidity, low slippage, or fast trades. You’ll be trading on a chain with minimal adoption.
Can You Report Hpdex Trades for Taxes?
Yes. Crypto Tax Calculator has a dedicated guide for Hpdex. That’s one of the clearest signs it’s being used by real people. If you’re trading on Hpdex, you need to track your transactions. Every swap, every withdrawal, every token deposit - it’s taxable. But here’s the problem: there’s no API. No export button. No CSV download. You’ll have to manually track every transaction using your wallet address. That’s doable if you’ve done 10 trades. Impossible if you’ve done 100. If you’re serious about tax compliance, you’ll need to use a third-party tool like Koinly or CoinTracker. But even those platforms don’t have automated Hpdex integration. You’ll be copying and pasting transaction hashes. It’s tedious. And it’s a red flag for any exchange that wants to be taken seriously.Final Verdict: Proceed With Extreme Caution
Hpdex isn’t a scam. It’s not a Ponzi. But it’s not a reliable exchange either. It’s a ghost in the crypto world - listed, functional, but invisible. Only use Hpdex if:- You hold HPB-chain tokens and have nowhere else to trade them
- You’re willing to manually track every transaction for taxes
- You understand the risks of using an un-audited, low-liquidity DEX
- You want to trade major coins like BTC, ETH, or SOL
- You expect customer support or help documentation
- You’re looking for a long-term investment in HPD
If you’re new to DEXs, stick with Uniswap, PancakeSwap, or dYdX. They’re transparent, audited, and have millions of users. Hpdex? Save it for when you’ve got a reason to be there - not just because it showed up on a list.
Is Hpdex a scam?
No, Hpdex isn’t listed as a scam by major trackers. But absence from scam lists doesn’t mean it’s safe. It lacks audits, team transparency, and community activity - all signs of a legitimate project. Use it only if you fully understand the risks.
Can I stake HPD tokens?
There is no public information confirming whether HPD tokens can be staked. No staking interface exists on the Hpdex website, and no documentation mentions staking rewards. If staking is available, it’s hidden or experimental.
Does Hpdex have a mobile app?
No, Hpdex does not have a dedicated mobile app. You can only access it through a web browser using a compatible wallet like MetaMask or Trust Wallet. There are no official iOS or Android apps.
What wallets work with Hpdex?
Hpdex is built on the HPB Blockchain, so you need a wallet that supports HPB MainNet. MetaMask can be configured manually with HPB’s RPC settings, but no official list of supported wallets exists. Most users rely on custom wallet setups, which increases the risk of errors.
Is Hpdex better than Uniswap?
No. Uniswap has higher liquidity, more trading pairs, regular audits, active development, and millions of users. Hpdex has none of that. Unless you specifically need to trade HPB-chain assets, Uniswap is far safer and more reliable.
Will Hpdex integrate with Ethereum soon?
Hpdex has mentioned Ethereum integration, but there’s no timeline, no technical updates, and no development activity visible online. This could be years away - or never happen. Treat it as speculation, not a guarantee.
What to Do Next
If you’re still considering Hpdex, here’s your action plan:- Check your wallet - do you hold any HPB-chain tokens? If not, skip this exchange.
- Use a separate wallet for Hpdex. Never put your main funds there.
- Record every transaction manually. Save screenshots and transaction hashes.
- Don’t invest more than you’re willing to lose. This isn’t trading - it’s testing.
- Wait for audits or team disclosures before increasing your exposure.
Author
Ronan Caverly
I'm a blockchain analyst and market strategist bridging crypto and equities. I research protocols, decode tokenomics, and track exchange flows to spot risk and opportunity. I invest privately and advise fintech teams on go-to-market and compliance-aware growth. I also publish weekly insights to help retail and funds navigate digital asset cycles.