In accordance with CMC knowledge, OKX ranks fourth among the many prime crypto exchanges by way of buying and selling quantity and liquidity. Due to this fact, in case you are on the lookout for a crypto buying and selling platform that gives spot and futures buying and selling with good liquidity, it could be your selection. Our OKX evaluate will cowl its professionals and cons, safety measures, charges, customer support, and whether or not it fits your buying and selling wants.
Key Takeaways:
OKX is a crypto trade the place you should buy and promote various kinds of digital belongings (like Bitcoin and Ethereum) utilizing fiat currencies like EUR and USD along with your checking account, bank card, or debit card.The platform provides all buying and selling options equivalent to spot and derivatives markets, staking providers, a duplicate buying and selling portal, and DeFi crypto pockets instruments like swaps and an NFT market.OKX fees a small payment whenever you purchase or promote crypto, beginning at 0.08% for makers and 0.1% for takers within the spot market, 0.02% for makers and 0.05% for takers in futures, with zero deposit and withdrawal charges.
OKX Assessment: Fast Abstract
Sorts
Crypto buying and selling platform
Headquarters
Globally (workplaces in UAE, Hong Kong, Singapore, Silicon Valley, and the Bahamas)
Yr Based
2017
Founder
Star Xu
Supported International locations
100+ (excluding Canada and the US)
Variety of Supported Cryptocurrencies
327 crypto tokens and 533 buying and selling pairs
Kinds of Buying and selling
Spot Buying and selling, Margin Buying and selling, Futures, Choices, Copy Buying and selling, P2P Buying and selling, and many others.
Fiat Currencies Supported
USD, EUR, GBP, and many others.
Deposit Strategies
Financial institution switch, credit score/debit card, third-party cost suppliers like MoonPay and Mercuryo, and many others.
Buying and selling Charges
Spot: 0.08% maker and 0.1% takerFutures: 0.02% maker and 0.05% takerChoices: 0.02% maker and 0.03% taker
Staking Choices
Fastened/versatile staking, on-chain DeFi staking, structured merchandise like twin funding and snowball
NFT Market
Sure (10+ blockchains)
Safety Measures
2FA, chilly storage, insurance coverage funds, PoR knowledge, anti-phishing code, tackle whitelisting, and extra
Buyer Help Channels
Reside chat, e-mail, assist ticket system
Cellular App
Android and iOS
What’s OKX (Previously OKEx)?
OKX, beforehand OKEx trade, is a worldwide crypto buying and selling platform identified for its high-trading quantity and deep liquidity. Star Xu based it again in 2017. Initially generally known as OKEx, the corporate rebranded to OKX in 2022. They preserve a worldwide presence in over 100 nations with workplaces in main hubs like UAE, Hong Kong, Singapore, Silicon Valley, and the Bahamas. OKX trade providers are supplied by its Seychelles-incorporated and Bahamas-registered entities. OKX provides Web3 providers in the USA, with an workplace in Silicon Valley, however doesn’t provide centralized trade providers within the US.
The trade has a formidable collection of over 327 supported digital belongings and 533 buying and selling pairs, with in style choices like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Tether (USDT), and lots of extra. You may simply purchase and promote these belongings with over 100+ fiat currencies and 900+ native cost strategies supported worldwide.
For knowledgeable merchants, you may make use of superior methods utilizing OKX’s derivatives choices. These embody conventional futures, perpetual contracts, and choices contracts. It additionally supplies methods to earn passive revenue in your crypto holdings. This consists of staking, financial savings merchandise, and different yield-generating alternatives like crypto loans.
About OKX’s Web3 portal, it has an built-in OKX pockets, a non-custodial multi-chain pockets that helps 70+ blockchain networks. It additionally connects to over 400 decentralized purposes (DApps) and NFT marketplaces to discover the Web3 ecosystem.
Execs of OKX
327+ cryptocurrencies and over 533 buying and selling pairs availableThe unified account mannequin helps you to commerce throughout spot, margin, and by-product markets with out having to switch funds between completely different walletsDemo buying and selling environments, letting you follow methods with digital fundsCompetitive buying and selling charges for spot and derivatives marketUp to 100x leverage for futures buying and selling and 10x for margin buying and selling“Study” part for brand spanking new customers, that includes crypto buying and selling tutorials and market evaluation
Cons of OKX
Not obtainable for the crypto merchants in Canada and the United StatesAdvanced buying and selling instruments and the DeFi ecosystem could be daunting for novices
OKX Buying and selling Assessment: Key Options
Spot Buying and selling
Spot buying and selling is probably the most simple manner to purchase and promote cryptocurrencies. OKX helps over 327 cryptocurrencies paired in opposition to in style currencies like USDT (a stablecoin pegged to the US Greenback), USDC, and even different cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). It additionally provides charting instruments, technical indicators, and varied order varieties to additional merely your cryptocurrency buying and selling course of.
Listed here are a number of the in style spot market order varieties on the OKX cryptocurrency trade:
Restrict: A restrict order permits you to purchase or promote a cryptocurrency at an actual value you set. The order can be executed solely when the market value reaches your goal value. This provides you better management over your entry or exit factors.TP/SL (Take Revenue / Cease Loss): It helps handle your danger. You set a take-profit value (the place you’d wish to lock in good points) and a stop-loss value (to restrict losses). As soon as both value goal is hit, a corresponding market or restrict order routinely triggers.Trailing Cease: It is a dynamic sort of stop-loss order. As an alternative of a set value, you set a trailing quantity (in share or forex). As the value of your asset will increase, your trailing stop-loss follows alongside.Set off: This order waits for a sure value or situation you set earlier than inserting a purchase or promote order (which could possibly be a restrict or market order).Iceberg: An iceberg order breaks a big order into many smaller ones, displaying solely a portion of your full order within the order ebook. This helps decrease value slippage when buying and selling massive quantities.TWAP (Time-Weighted Common Value): It splits a big order into smaller chunks executed over a specified time. This goals to attain a value nearer to the typical value over that interval.
Futures Buying and selling
OKX provides a sturdy futures buying and selling platform that includes 228+ cryptocurrencies. You’ll discover assist for as much as 100x leverage on in style belongings like BTC and ETH, whereas different cash like MATIC, ADA, XRP, DOT, and SOL have a most leverage of 50x.
The platform provides two important forms of futures buying and selling. Conventional Futures and Perpetual Futures
Conventional futures have a predetermined expiration date after which the contract should be settled. On this case, costs could deviate extra considerably from the underlying asset’s spot value because the expiration date approaches.Perpetual contracts should not have an expiry. This provides extra flexibility for merchants to carry their positions for an indefinite period of time.
OKX additionally supplies each cross and remoted margin modes. Cross mode makes use of your whole obtainable margin steadiness throughout all positions. Remoted mode limits the margin used for every particular place. It helps in lowering danger by limiting losses in a single commerce from affecting different open positions.
Just like the spot market, the OKX futures portal is supplied with an array of instruments and order varieties to swimsuit completely different buying and selling methods. These embody market orders, restrict orders, stop-limit orders, and superior order varieties like trailing stops.
OKX provides 4 various kinds of futures buying and selling modes: Margin free, Single-currency margin, Multi-currency margin, and Portfolio Margin.
Margin Free: No upfront margin is required. Income from open positions act as your collateral.Single-Foreign money Margin: Makes use of just one particular cryptocurrency as a margin for all of your futures positions.Multi-Foreign money Margin: Permits utilizing a number of supported cryptocurrencies in your account as a margin.Portfolio Margin: Calculates danger throughout your whole portfolio, doubtlessly reducing margin necessities.
Margin Buying and selling
Margin buying and selling permits you to borrow funds from OKX to extend your shopping for energy. The OKX margin buying and selling at the moment provides as much as 10x leverage on in style belongings like BTC, ETH, OKB, MATIC, SOL, and DOGE. Different belongings assist solely as much as 5x leverage.
To provoke a margin commerce, you first have to have a few of your personal funds as collateral. This acts as safety for the mortgage you’ll be taking from the trade.
There’s additionally an important idea referred to as “upkeep margin.” That is the minimal quantity of collateral you should preserve in your account to maintain your place open. If the market strikes in opposition to you and your collateral falls under the upkeep margin, your place can be liquidated. Which means your belongings are offered to repay the mortgage.
Choices Buying and selling
Choices contracts are barely extra advanced than spot buying and selling. With choices, you might have the pliability to purchase (name possibility) or promote (put possibility) the underlying cryptocurrency at a set value (strike value) on or earlier than a specified date (expiry date). Importantly, you might have the selection, however not the duty, to take action.
OKX choices are European-style, which means you may solely train them at expiry, not earlier than. In contrast to some platforms with stablecoin-settled choices, OKX settles its choices contracts within the underlying cryptocurrency (e.g., BTC or ETH).
Copy Buying and selling
Copy buying and selling helps you to routinely mimic the trades carried out by one other dealer, known as a “grasp dealer.” On OKX, you select a grasp dealer primarily based on components like their previous efficiency (PnL), buying and selling technique, and danger tolerance. Once they open or shut positions within the spot market, your account does the identical trades. OKX copy buying and selling is on the market for each spot and futures markets.
OKX supplies a listing of grasp merchants with detailed efficiency histories, win charges, AUM, variety of followers, PnL%, and extra. As an alternative of copying grasp merchants precisely, you too can set your personal funding parameters. It provides versatile choices to set both a set quantity per commerce or a most complete funding quantity.
P2P Buying and selling
P2P, or peer-to-peer buying and selling, is a manner to purchase and promote cryptocurrencies immediately with different customers. Right here, OKX acts as a intermediary. To guard P2P customers, the platform makes use of a safe escrow system. Which means whenever you provoke a commerce, the cryptocurrency concerned is briefly frozen by OKX till each the customer and vendor have confirmed the profitable completion of the transaction. On OKX P2P, you don’t pay any charges to the platform on your trades.
The trade at the moment helps 4 cryptocurrency belongings (USDT, USDC, BTC, and ETH) on its P2P market. OKX additionally helps greater than 100 fiat currencies and 900+ cost strategies, overlaying your native e-wallets, financial institution transfers, credit score/debit playing cards, and direct money transactions.
Buying and selling Bots
These OKX bots can create skilled buying and selling methods, all automated. You may both use an present bot or create your personal buying and selling bots with completely different methods.
OKX provides 5 various kinds of buying and selling bots: grid bots (spot, futures, and infinity grid), sign buying and selling, arbitrage, DCA, and slicing bots.
Grid Bots (Spot, Futures, Infinity Grid): These bots work like a ladder of purchase and promote orders. They goal to make small earnings inside a value vary, shopping for when costs dip and promoting after they go up.Sign Buying and selling Bots: They work primarily based on third-party indicators. You may both combine TradingView or create your personal buying and selling indicators. There may be additionally a sign market on the platform.Arbitrage Bots: They search for tiny value variations throughout completely different markets (like spot vs. futures) and attempt to make fast earnings from these gaps.DCA (Greenback-Price Averaging) Bots: These bots are all about regular investing. They purchase a set quantity of your chosen cryptocurrency at common instances. This helps clean out the influence of value swings. It additionally consists of “Recurring Buys”.Slicing Bots: The slicing bots are greatest for giant trades or orders like Iceberg or TWAP (as mentioned above). They break down a big order into smaller items and execute them over time to assist get a greater general common shopping for value.
Liquid Market
The OKX Liquid Market is designed particularly for institutional merchants and large-volume cryptocurrency merchants. It capabilities as an over-the-counter (OTC) platform. This implies trades are negotiated and settled immediately between the 2 events concerned. This strategy provides privateness, customization, and higher pricing in comparison with conventional open-order-book exchanges.
Request-for-quote (RFQ) is one other highly effective software throughout the OKX Liquid Market. It’s primarily a approach to supply the most effective costs on your desired commerce. An RFQ is your manner of claiming: “Hey, I’m serious about shopping for or promoting this certain amount of a cryptocurrency, what’s your greatest provide?”
The RFQ is distributed to a number of market makers (principally, skilled liquidity suppliers) who compete to offer probably the most aggressive value. This course of will help you discover considerably higher offers than you may get on a normal trade.
OKX Earn Companies
Staking
OKX provides a wide range of methods to earn passive revenue in your cryptocurrency holdings by way of staking. Easy Earn is the simplest approach to begin. It provides two classes:
Versatile (Financial savings): This feature permits you to deposit your crypto and earn curiosity with most flexibility. You may withdraw your funds anytime. Versatile choices sometimes provide decrease rates of interest in comparison with fixed-term staking.Fastened (Staking): Right here, you lock your crypto for a set interval for doubtlessly increased yields. Throughout this time, your belongings actively take part in securing the blockchain community, subsequently incomes an even bigger reward. Rates of interest on mounted staking depend upon the precise cryptocurrency and the chosen lock-up time. For a tough thought, you may earn as much as 100% APY on sure cash and much more.
Now, you might have an alternative choice with “OKX Structured Merchandise”. These merchandise usually mix staking with market predictions or methods.
Twin Funding: You expect if the value of a cryptocurrency will go up or down by a sure date. In case your prediction is right, you earn a excessive return. On this case, you deposit a single asset however receives a commission in a unique one.Seagull: It’s designed whenever you suppose the market will transfer a lot in a single course. With this product, you select between Bullish BTC or Bearish BTC. You may doubtlessly extend earnings if the value of the crypto strikes considerably as you anticipated.Snowball: This routinely reinvests your earnings again into the staking pool, primarily compounding your returns.
On-chain incomes is one other approach to earn passive cash on OKX. This feature permits for direct on-chain staking, the place you contribute to validating transactions on proof-of-stake blockchains. You may discover choices like “ETH staking”.
Crypto Mortgage
The OKX Crypto Mortgage function is a approach to borrow cryptocurrency with out having to promote your present holdings. You utilize your cryptocurrency as collateral. This implies you place up a few of your crypto as a assure that you just’ll pay again the mortgage. Should you don’t, OKX can preserve your collateral.
The trade provides many belongings for loans equivalent to BTC, ETH, USDT, ALGO, APT, and many others. You may select loans with both versatile rates of interest, which change hourly primarily based on market situations, or mounted charges for predictable prices. Versatile loans don’t have mounted compensation durations, so you might have better management over whenever you pay it off.
OKX options a mean hourly APR of about 1% (topic to vary). This implies your rate of interest modifications hourly primarily based on the lending market. How OKX determines this price relies on components like:
Mortgage to Worth Ratio (LTV): How a lot you borrow in comparison with your collateral’s worth. Increased LTVs typically imply increased curiosity.Provide and Demand: What number of lenders and debtors are lively influences the rate of interest.
Jumpstart (Launchpad)
OKX Jumpstart acts like a launchpad for brand spanking new blockchain tasks. Presently, OKX has launched 11 new tasks on its Launchpad and raised a complete of $2.54 billion.
It has alternative ways to take part. Typically you may “mine” tokens by staking present cryptocurrencies you already personal. In different instances, you may have to pledge the OKB token (OKX trade’s personal cryptocurrency) to have an opportunity of shopping for the brand new mission’s tokens.
OKX Decentralized Finance (DeFi) Ecosystem
OKX Pockets
With OKX Pockets, you may simply work together with decentralized purposes (DApps), commerce on decentralized exchanges (DEXs), discover NFT marketplaces, and way more.
It’s designed to be user-friendly. You may simply ship, obtain, and retailer an enormous vary of cryptocurrencies throughout a whopping 70+ blockchains. The pockets additionally features a built-in DEX for fast token swaps. The OKX DEX aggregator searches by way of greater than 400 DEXs and over 20 cross-chain bridges throughout greater than 20 networks to seek out the most effective Bitcoin and crypto costs.
OKX Pockets is non-custodial, which means you, and solely you, maintain the keys to your belongings. The Pockets is on the market on completely different working methods. You should use it as a browser extension or make the most of the devoted cell app for each Android and iOS gadgets. And, for clean transitions between platforms, you may simply join your OKX Pockets to the OKX centralized trade.
OKT Chain
OKX Chain, or OKTC, is an EVM-compatible layer-1 blockchain constructed on Cosmos (ATOM). The blockchain can be 100% open-source.
The OKT chain is able to dealing with 6,000 transactions per second, which could be very excessive in comparison with Ethereum 12-15 TPS. Utilizing OKTC typically prices little or no ($0.01) in comparison with some older blockchains like Ethereum. The OKX chain additionally has a local token (OKT).
NFT Market
OKX additionally provides an NFT market. It helps NFTs throughout a variety of classes – artwork, collectibles, music, sport objects, and even digital land. The platform isn’t restricted to a single blockchain.
It helps NFTs on a number of chains like Ethereum, Polygon, Base, Solana, BNB chain, and extra. It’s because it gathers NFTs from all in style marketplaces like OpenSea, Blur, LooksRare, X2Y2, MagicEden, and lots of extra. This provides you extra flexibility as each a purchaser and vendor.
What Cryptocurrencies Can I Commerce on OKX?
Presently, OKX helps a formidable collection of over 327 supported cryptocurrencies with a major variety of over 533 buying and selling pairs. You’ll discover cash targeted on sectors like AI, the Metaverse, gaming, DeFi, good contracts, and extra.
Whereas the variety of cash is nice, it won’t be sufficient for individuals who need to put money into very new, low-cap cash. OKX often focuses on itemizing older, extra well-established cash. If you would like these tremendous new, riskier cash with the prospect for giant earnings, exchanges like MEXC and Bybit usually add them a lot sooner than OKX.
Listed here are some in style cryptocurrencies you’ll discover on OKX:
Bitcoin (BTC)Ethereum (ETH)Tether (USDT)Bitcoin Money (BCH)USD Coin (USDC)Aptos (APT)Cardano (ADA)Solana (SOL)Dogecoin (DOGE)Polkadot (DOT)Polygon (MATIC)
OKX Charges Assessment
OKX Spot Buying and selling Charges
OKX makes use of a maker-taker payment mannequin for many spot and derivatives buying and selling. Which means the charges you pay depend upon whether or not you’re including liquidity to the market (maker) or taking liquidity away (taker).
It has a tiered payment construction primarily based in your 30-day buying and selling quantity and OKB holdings. As your buying and selling quantity or OKB holdings improve, you’ll take pleasure in low buying and selling charges.
Firstly, let’s see what OKX charges appear like with OKB holdings:
Tier
OKB Holdings
Maker Charges
Taker Charges
Lvl 1
< 100
0.08%
0.1%
Lvl 2
≥ 100
0.075%
0.09%
Lvl 3
≥ 200
0.07%
0.08%
Lvl 4
≥ 500
0.065%
0.07%
Lvl 5
≥ 1000
0.06%
0.06%
Now, if you happen to don’t maintain OKB tokens, you too can get a buying and selling payment rebate primarily based on buying and selling quantity. Right here is the overview:
Tier
30-Day Quantity
Maker Charges
Taker Charges
Withdrawal Restrict
VIP 0
–
0.08%
0.1%
$10,000,000
VIP 1
≥ 5,000,000
0.045%
0.05%
$12,000,000
VIP 2
≥ 10,000,000
0.04%
0.045%
$16,000,000
VIP 3
≥ 20,000,000
0.03%
0.04%
$20,000,000
VIP 4
≥ 100,000,000
0.02%
0.035%
$24,000,000
OKX Futures Buying and selling Charges
Buying and selling charges for futures contracts observe an analogous tiered maker-taker mannequin. For normal customers, it begins with 0.02% maker and 0.05% taker. Equally, it retains reducing with excessive buying and selling quantity and OKB holdings. For choices buying and selling, OKX fees 0.02% maker and 0.03% taker.
For extra info, you may take a look at the complete OKX charges overview.
OKX Deposit and Withdrawal Charges
OKX doesn’t cost any charges for cryptocurrency deposits. Nevertheless, do do not forget that you’ll nonetheless have to pay community charges (often known as fuel charges) related to transferring cryptocurrencies on the blockchain.
Withdrawal charges on OKX differ relying on the cryptocurrency you’re withdrawing. These charges are additionally up to date often to mirror community situations.
For fiat currencies, if you happen to use third-party providers equivalent to Mercuryo or Moonpay to purchase crypto, count on to pay extra charges and spreads starting from 2% to over 10%. Credit score/Debit card transactions additionally cost variable charges primarily based in your nation.
OKX Cost Strategies
OKX helps a wide range of cost strategies for purchasing crypto or making deposits. As mentioned above, it helps over 900 cost strategies on its P2P market. However, if you wish to deposit immediately on the platform, you might have considerably restricted choices.
Credit score/Debit playing cards (Visa and Mastercard)SEPABank transfersiDEALPIXApple Pay and Google Pay (utilizing debit playing cards)MoonpayMercuryo
Deposit and Withdrawal Limits
Deposit and withdrawal limits on OKX can differ primarily based in your payment degree. Customers with the next VIP degree will often have increased limits. For fiat currencies, these limits can change primarily based on cost strategies.
Fiat Foreign money
Cost Technique
Minimal Deposit
Max. Deposit
Max. Withdrawal
EUR
SEPA
€1
€100,000 Day by day
€1,000,000 per 30 days
€100,000 Day by day
€1,000,000 per 30 days
EUR
iDEAL
€1
€100,000 Day by day
€1,000,000 per 30 days
N/A
BRL
Pix
$10
$20,000 Day by day
$50,000 per 30 days
$20,000 Day by day
$50,000 per 30 days
AUD
Financial institution Switch
$10 for deposits and $5 for withdrawal
$10,000 Day by day
$20,000 Weekly
$10,000 Day by day
$20,000 Weekly
OKX Safety Measures
Two-Issue Authentication (2FA): That is an absolute should! OKX helps 2FA by way of SMS, e-mail codes, and authenticator apps like Google Authenticator. This provides an additional layer of safety.Passkeys: Whereas not but as widespread, OKX is exploring the usage of passkeys as a substitute for passwords. Passkeys are extra immune to hacking and phishing makes an attempt.Anti-Phishing Code: You may arrange a novel code that may seem in all real emails from OKX. This helps you shortly spot faux emails making an attempt to steal your knowledge.Chilly Wallets: Most of OKX’s cryptocurrency holdings are stored offline in “chilly wallets”. A smaller quantity is stored in on-line “sizzling wallets” for day by day transactions.Multi-Signature Know-how: OKX makes use of methods the place a number of licensed folks have to approve transactions. This prevents any single individual from making unauthorized actions of funds.Proof-of-reserve knowledge (PoR). The platform makes its solvency knowledge public and you may confirm it on DeFi blockchain explorers like Defilama. Presently, OKX has over $29.25 billion underneath its custody.OKX danger protect: It has an insurance coverage fund put aside particularly to guard your belongings within the unlikely occasion of a safety breach. It’s much like Binance’s “SAFU”.Withdrawal Deal with Whitelisting: This lets you whitelist addresses for withdrawing your funds. Any try and ship funds to an unknown tackle can be blocked.Necessary KYC (Know Your Buyer): OKX requires customers to endure necessary KYC verification. This helps stop criminality and ensures customers are who they are saying they’re.
OKX App Assessment
Many individuals commerce crypto on their telephones today. Should you’re one in every of them, you’ll be pleased to know that OKX has a well-made cell app, that includes superior buying and selling functionalities and sturdy safety measures. It’s obtainable for each Android and iOS telephones. The OKX app has all of the essential options it is advisable commerce on the go. You may verify costs, place orders, and handle your portfolio from wherever.
The OKX cell app additionally has a helpful “Lite” mode. That is designed for people who find themselves new to crypto and will need a less complicated expertise. Nevertheless, extra skilled merchants may like the complete set of options for higher management over their trades.
OKX Restricted International locations
OKX could limit customers from sure nations as a consequence of regulatory causes or different components. Nevertheless, the listing of prohibited nations can change over time as a consequence of updates in laws or firm insurance policies.
On the time of writing, a number of the nations sometimes restricted by cryptocurrency exchanges OKX embody:
Hong Kong (particularly derivatives-related providers)Singapore (margin and derivatives associated providers)America of America together with all U.S.A. territoriesCanadaThe NetherlandsThe UK (derivatives-related providers for retail customers)IndiaJapanNorth KoreaMalaysia
And many extra!
OKX Buyer Help
Once you’re coping with crypto, it’s essential to have good buyer assist if one thing goes flawed. OKX has a number of methods to get assist if you happen to want it. They’ve a assist middle on their web site with a lot of articles and solutions to widespread questions.
For extra particular issues, you may contact them in a number of methods:
E mail: Ship a message to [email protected]. They often reply inside a day or two.Reside Chat: On the OKX web site, there’s a stay chat possibility the place you may speak to a customer support individual immediately.Social Media: OKX additionally has accounts on Twitter and different social websites the place you may contact them.
Prospects searching for help can attain OKX buyer assist by way of varied strategies, together with submitting a web-based assist request, opening a stay chat window, or emailing the corporate. Moreover, a web-based assist middle is on the market with solutions to ceaselessly requested questions.
The trade additionally receives fairly good scores, equivalent to 4.6/5 on the App Retailer and 4.5/5 on the Google Play Retailer. Nevertheless, OKX has solely obtained a Belief rating of 1.9/5 on Trustpilot. We seen that some customers have talked about that OKX’s customer support could be sluggish typically.
Person Expertise: Is OKX Straightforward-to-Use?
OKX provides a superb buying and selling expertise. They’ve a variety of cryptocurrencies to select from, and their buying and selling charges are fairly low in comparison with another exchanges. The cell app is the cherry on prime for on-the-go merchants.
The buying and selling platform itself is well-designed. It may be just a little advanced if you happen to’re new to buying and selling, however there are guides that will help you get began. Extra superior merchants will discover a lot of instruments for analyzing the market. These embody charts and methods to arrange completely different sorts of orders.
OKX Alternate options to Take into account
Binance and Bybit are in style different cryptocurrency exchanges to OKX. Here’s a transient comparability:
Options
OKX
Binance
Bybit
Based
2017
2017
2018
Widespread buying and selling options
Spot, margin, derivatives, OKX Earn, NFT market, Web3 pockets
Spot, margin, futures, P2P, Earn merchandise, launchpad, staking, NFTs
Spot and derivatives buying and selling, copy buying and selling, bots, Web3 ecosystem
Web3 Pockets
Sure
Sure
Sure
Supported cash
327+
381+
1,167+
Buying and selling charges
0.08% maker and 0.1% taker
0.1% maker/taker
0.1% maker/taker
Deposit and withdrawal charges
Zero charges
Zero charges
Zero charges
US presence
Restricted (OKCoin operates)
Separate platform Binance US obtainable
No availability
Native token
OKB
BNB
BIT
Tips on how to Purchase Crypto on the OKX Platform?
Step 1: Create an Account
Go to the OKX web site or obtain their cell app. You’ll see a button that claims “Signal Up”. Click on it. You’ll want to offer some primary info like your e-mail tackle and create a powerful password. OKX will ship you an e-mail to confirm your account. Click on the hyperlink within the e-mail to activate your account. Now, for safety functions, you might have necessary 2FA. You should use both SMS or Google Authenticator code.
Step 2: Confirm Your Identification (KYC)
Earlier than you can begin buying and selling, OKX must confirm your id. That is necessary! This course of known as KYC (Know Your Buyer) and is a normal safety step on most exchanges.
Go to your profile part and choose “Verification”. Click on on this and observe the directions. Often, you’ll want to offer an image of a government-issued ID (like a driver’s license or passport) and a selfie. The verification course of can take a while, typically a number of hours and even a few days.
Step 3: Deposit Funds
As soon as your account is verified, you’re able to put some cash in. Search for a bit within the menu bar that claims “Purchase Crypto”. Now, you need to use both “Categorical Purchase” or “P2P buying and selling”.
For this information, we can be utilizing “Categorical Purchase”. Choose your most well-liked fiat forex, cryptocurrency, and cost methodology. It might take a while on your deposit to indicate up in your OKX account, relying on the strategy you used.
Step 4: Begin Buying and selling Crypto
As soon as the cash is in your account, you can begin shopping for crypto. Search for a bit referred to as “Commerce” and choose “Spot”. Right here you’ll see a listing of various cryptocurrencies that OKX provides. Discover the buying and selling pair you need to purchase (for instance, BTC/USDT or ETH/USDT) and click on on it.
You’ll see a buying and selling display with charts and costs. Determine how a lot of the cryptocurrency you need to purchase and how much order you need to place. A easy “market order” will purchase your crypto immediately on the present value. When you’ve positioned your order, OKX will do the remainder and you will note your funds within the pockets.
Last Verdict
Our OKX platform evaluate discovered that it’s among the many trusted cryptocurrency trade apps for each novices and skilled crypto merchants. It has all in style cash and tokens to select from. The charges are low, particularly in case you are a high-volume dealer. The platform can be simple to make use of for novices and there are many instruments and options for knowledgeable merchants. OKX additionally has methods to earn curiosity in your crypto, which is a pleasant bonus.
Nevertheless, the draw back is that it’s restricted in sure nations such because the US and India. Moreover, it doesn’t listing all new tasks and low-cap altcoins for buying and selling.
OKX Alternate Assessment: FAQs
Who’s OKX Finest For?
OKX is greatest for all ranges of cryptocurrency customers. As a newbie, you’ll recognize its options like spot buying and selling, instantaneous fiat-to-crypto convert, and P2P marketplace for simple withdrawals and deposits.
Skilled crypto dealer will recognize its superior buying and selling instruments, excessive leverage, and margin buying and selling choices. Should you like incomes passive revenue, OKX is nice for that too, with staking, financial savings, and DeFi options. If you’re a Web3 explorer, it has a non-custodial pockets, NFT market, and decentralized swap options.
Is OKX legit & secure to make use of?
Sure, OKX has a stable fame as a reputable and safe trade. It has greater than 50 million customers in over 100 nations. It’s licensed within the Bahamas and lately acquired a VARA registration in Dubai. The trade additionally makes use of industry-standard safety measures like chilly storage, multi-signature wallets, and publicly obtainable PoR knowledge for transparency.
Can US residents use OKX?
No, US residents can not entry the primary OKX platform. Regulatory restrictions stop OKX from providing its full vary of providers inside the USA. Nevertheless, US residents can doubtlessly discover OKX’s decentralized choices, just like the OKX Pockets and NFT platform.
Is OKX good for brand spanking new merchants?
Sure, OKX has quite a bit to supply new merchants. It has easy purchase/promote capabilities, instructional assets, and demo buying and selling to follow with out risking actual cash. Nevertheless, its extra advanced options, like margin and futures buying and selling, could possibly be overwhelming for novices. Should you’re new, it’s smart to begin with the fundamentals on OKX and regularly discover its superior options as you acquire expertise.
Is OKX a Chinese language firm?
Sure, OKX has Chinese language origins. It was based by Star Xu in China in 2017. As a consequence of altering laws in China concerning cryptocurrency, OKX moved its headquarters overseas. It at the moment operates from places like Seychelles and Dubai.
