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The OKex exchange platform is available both in-browser and in the form of desktop client software which is downloaded. The more professional nature of OKex’s exchange platform also means that it places more demand on hardware than the average cryptocurrency exchange. We will review the derivative instruments on OKX, including their plain vanilla futures, their perpetual swaps and their options, along with the other platform features. The platform also offers access to diverse passive earning opportunities, DeFi services, and crypto-backed loans. It is fully equipped to provide the best financial services to crypto traders.
OKEx is recommended for experienced traders because it provides functions such as margin trading, crypto borrowing, and options trading that can be very risky and lead to huge losses. If you’re looking for a simpler-to-use exchange, yet one that would still provide a huge array of different features, you should check out platforms such as Binance and Coinbase. Wrapping things up, keep in mind that OKEx is a Malta-based cryptocurrency trading platform that was founded in 2017, and is now considered one of the most popular crypto exchange platforms. OKEx is a popular crypto brokerage and trading platform that provides some great features for anyone looking to acquire and / or trade crypto. This OKEx exchange review will answer all of your questions about the company and the platform itself, helping you to decide whether or not it’s suitable for you.
OKEx Tools & Features
The OKX cryptocurrency exchange is available to users in over 100 countries worldwide. This includes using users’ own assets in the exchange and OKX’s wallet addresses and assets. The savings product is flexible, so users can put their cryptocurrency in and take it out at any time. The APY ranges from 1% to 36.50%, depending on the deposited asset. However, advanced traders can utilize spot trading order types on OKX.
The exchange platform (i.e. Binance) acts as a middleman – it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange. When it comes to OKEx, the platform is definitely more recommended for experienced users. Such options as margin trading, spot trading, options trading, and crypto lending and borrowing can be not only too advanced, but also very risky for newbie traders. Every crypto-enthusiast, especially when it comes to day traders, knows that trading fees can determine their choice when deciding between a few different trading platforms.
OKX Review Mobile App & PC Client
Simultaneously, most of the other trading markets (like lending, derivatives, and margin trading) are majorly limited to the top cryptocurrencies. OKEx allows buying and selling of Bitcoin and six other digital assets. The service enables transactions in over 40 fiat currencies, with support for 25 payment methods. The exchange also allows for peer-to-peer transactions, although those are only available for Rupees, the Vietnamese Dong, and the Chinese Yuan. Okex cryptocurrency exchange is considered as the most trusted digital assets exchange and the global leader of the blockchain technology. Any of the exchange cannot be regarded as a trusted exchange until it proves itself.
- This is unfortunate, as OKX is one of few exchanges that offer such a wide selection of tokens and crypto mining options.
- OKEx doesn’t ask for identity verification for basic transactions.
- Investors holding the OKB utility token can get 40% off trading fees on OKX but keep an eye on the price forecast and prediction for this asset to ensure it maintains its value.
- While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges.
- We really liked OKX because they have a pretty strong community around it with numerous telegram & Facebook groups.
- The exchange attributed this to the failure of the account holders themselves to secure their accounts and having made passwords and logins accessible.
OKX is registered in Hong Kong and Malta and offers VFAA-compliant trading services. VFAA, or the Virtual Financial Asset Act, is a regulated authority under Malta Financial Services. The OKX exchange is trusted by the users that use its great features. As for security, it is okex review one of the safest cryptocurrency trading platforms in the world that has never been hacked and thus has no negative reviews against it. The OKX crypto trading platform offers a user-friendly mobile application that can be easily downloaded from Apple Store or Google Play.
OKX Exchange Registration Process
This can also give you an extra layer of security by having your assets spread out in different locations. There are only a handful of exchanges out there that offers crypto-to-fiat trading pairs. With OKEx, customers can purchase cryptocurrencies directly on the Exchange. Most major fiat currencies such as USD, EUR, GBP, CAD etc. are accepted, as are most payment methods. The OKex exchange was born out of OKCoin as a brand targeted at more advanced cryptocurrency traders. On the OKX exchange, traders from all over the world can access more than 350 cryptocurrencies and 500 trading pairs.
The handling of fraudulent accounts is in the same way scammers behave. We strive to achieve something that changes the world and never stop to innovate and improve on our customer experience. That said, ICO investing is an inherently high-risk activity, and OKX has only launched 13 projects, none of which have been particularly notable. Unlike the popular crypto launchpad from Binance, which has launched over 64 projects, including StepN and BitTorrent Token, Jumpstart is still in its infancy. As such, it could be worth waiting to see how its ecosystem develops before investing.
Okex Trading wallets
The minimum amount required to open an account and start trading is 10 USDT or any other cryptocurrencies with an equivalent amount. Once your account has been verified and you have completed the deposit process, the funds will be automatically added to your trading account. The trading fee structure at OKEx is based on whether an investor is a market maker or a market taker. But due to the size of securities needed to facilitate the volume required to become a market maker, the majority of crypto investors are market takers. EToro is another platform that allows traders and investors to make bets and possibly earn returns. However, while OKEx focuses exclusively on cryptocurrencies, eToro has a broader scope.
In particular, higher level VIPs are even given rebates on the maker fees. One unique feature of OKEx is its integrated storage wallet called OKEx Wallet. Similar to many other exchanges, OKEx has a mobile app available on the https://www.tokenexus.com/what-is-dragonchain-and-how-does-it-work/ App Store and Google Play Store for convenient trading on the go. However with the OKEx app, the OKEx Wallet serves as a software wallet where you can store multiple cryptocurrencies separately from your trading account.
