In accordance with CMC knowledge, OKX ranks fourth among the many prime crypto exchanges by way of buying and selling quantity and liquidity. Subsequently, if you’re searching for a crypto buying and selling platform that provides spot and futures buying and selling with good liquidity, it is perhaps your alternative. Our OKX overview will cowl its execs 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 property (like Bitcoin and Ethereum) utilizing fiat currencies like EUR and USD along with your checking account, bank card, or debit card.The platform presents all buying and selling options reminiscent of spot and derivatives markets, staking providers, a replica buying and selling portal, and DeFi crypto pockets instruments like swaps and an NFT market.OKX prices a small payment if 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 Evaluate: Fast Abstract
Varieties
Crypto buying and selling platform
Headquarters
Globally (places of work in UAE, Hong Kong, Singapore, Silicon Valley, and the Bahamas)
Yr Based
2017
Founder
Star Xu
Supported Nations
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 so on.
Fiat Currencies Supported
USD, EUR, GBP, and so on.
Deposit Strategies
Financial institution switch, credit score/debit card, third-party cost suppliers like MoonPay and Mercuryo, and so on.
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
Mounted/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, deal with whitelisting, and extra
Buyer Assist Channels
Reside chat, e-mail, assist ticket system
Cell App
Android and iOS
What’s OKX (Previously OKEx)?
OKX, beforehand OKEx trade, is a world crypto buying and selling platform recognized 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 world presence in over 100 international locations with places of work 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 presents 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 property and 533 buying and selling pairs, with widespread choices like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Tether (USDT), and plenty of extra. You may simply purchase and promote these property with over 100+ fiat currencies and 900+ native cost strategies supported worldwide.
For knowledgeable merchants, you’ll be able to make use of superior methods utilizing OKX’s derivatives choices. These embody conventional futures, perpetual contracts, and choices contracts. It additionally gives methods to earn passive revenue in your crypto holdings. This contains 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 permits you to commerce throughout spot, margin, and spinoff markets with out having to switch funds between totally different walletsDemo buying and selling environments, letting you observe 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 out there for the crypto merchants in Canada and the United StatesAdvanced buying and selling instruments and the DeFi ecosystem will be daunting for freshmen
OKX Buying and selling Evaluate: Key Options
Spot Buying and selling
Spot buying and selling is essentially the most easy manner to purchase and promote cryptocurrencies. OKX helps over 327 cryptocurrencies paired in opposition to widespread currencies like USDT (a stablecoin pegged to the US Greenback), USDC, and even different cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). It additionally presents charting instruments, technical indicators, and numerous order sorts to additional merely your cryptocurrency buying and selling course of.
Listed below are a few of the widespread spot market order sorts on the OKX cryptocurrency trade:
Restrict: A restrict order lets you purchase or promote a cryptocurrency at a precise value you set. The order might be executed solely when the market value reaches your goal value. This offers you higher 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 prefer to lock in positive factors) and a stop-loss value (to restrict losses). As soon as both value goal is hit, a corresponding market or restrict order robotically triggers.Trailing Cease: This can be a dynamic sort of stop-loss order. As an alternative of a hard and fast value, you set a trailing quantity (in proportion or foreign money). 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 putting 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 e book. This helps reduce value slippage when buying and selling giant quantities.TWAP (Time-Weighted Common Worth): It splits a big order into smaller chunks executed over a specified time. This goals to realize a value nearer to the typical value over that interval.
Futures Buying and selling
OKX presents a sturdy futures buying and selling platform that includes 228+ cryptocurrencies. You’ll discover assist for as much as 100x leverage on widespread property like BTC and ETH, whereas different cash like MATIC, ADA, XRP, DOT, and SOL have a most leverage of 50x.
The platform presents two foremost varieties 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 might deviate extra considerably from the underlying asset’s spot value because the expiration date approaches.Perpetual contracts shouldn’t have an expiry. This presents extra flexibility for merchants to carry their positions for an indefinite period of time.
OKX additionally gives each cross and remoted margin modes. Cross mode makes use of your complete out there margin stability 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 sorts to swimsuit totally different buying and selling methods. These embody market orders, restrict orders, stop-limit orders, and superior order sorts like trailing stops.
OKX presents 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-Forex Margin: Makes use of just one particular cryptocurrency as a margin for all of your futures positions.Multi-Forex Margin: Permits utilizing a number of supported cryptocurrencies in your account as a margin.Portfolio Margin: Calculates danger throughout your complete portfolio, doubtlessly decreasing margin necessities.
Margin Buying and selling
Margin buying and selling lets you borrow funds from OKX to extend your shopping for energy. The OKX margin buying and selling presently presents as much as 10x leverage on widespread property like BTC, ETH, OKB, MATIC, SOL, and DOGE. Different property assist solely as much as 5x leverage.
To provoke a margin commerce, you first have to have a few of your individual funds as collateral. This acts as safety for the mortgage you’ll be taking from the trade.
There’s additionally an important idea known 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 might be liquidated. Meaning your property are bought to repay the mortgage.
Choices Buying and selling
Choices contracts are barely extra complicated than spot buying and selling. With choices, you’ve the flexibleness 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’ve the selection, however not the duty, to take action.
OKX choices are European-style, which means you’ll be able to solely train them at expiry, not earlier than. Not like 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 permits you to robotically mimic the trades carried out by one other dealer, known as a “grasp dealer.” On OKX, you select a grasp dealer based mostly 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 offered for each spot and futures markets.
OKX gives an inventory of grasp merchants with detailed efficiency histories, win charges, AUM, variety of followers, PnL%, and extra. As an alternative of copying grasp merchants precisely, it’s also possible to set your individual funding parameters. It presents versatile choices to set both a hard and fast 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 straight 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 if you provoke a commerce, the cryptocurrency concerned is briefly frozen by OKX till each the client and vendor have confirmed the profitable completion of the transaction. On OKX P2P, you don’t pay any charges to the platform in your trades.
The trade presently helps 4 cryptocurrency property (USDT, USDC, BTC, and ETH) on its P2P market. OKX additionally helps greater than 100 fiat currencies and 900+ cost strategies, protecting 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 current bot or create your individual buying and selling bots with totally different methods.
OKX presents 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 purpose to make small income inside a value vary, shopping for when costs dip and promoting after they go up.Sign Buying and selling Bots: They work based mostly on third-party indicators. You may both combine TradingView or create your individual buying and selling indicators. There’s additionally a sign market on the platform.Arbitrage Bots: They search for tiny value variations throughout totally different markets (like spot vs. futures) and attempt to make fast income from these gaps.DCA (Greenback-Value Averaging) Bots: These bots are all about regular investing. They purchase a set quantity of your chosen cryptocurrency at common occasions. This helps easy out the affect of value swings. It additionally consists of “Recurring Buys”.Slicing Bots: The slicing bots are greatest for large 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 features as an over-the-counter (OTC) platform. This implies trades are negotiated and settled straight between the 2 events concerned. This method presents privateness, customization, and higher pricing in comparison with conventional open-order-book exchanges.
Request-for-quote (RFQ) is one other highly effective instrument inside the OKX Liquid Market. It’s basically a method to supply one of the best costs in your desired commerce. An RFQ is your manner of claiming: “Hey, I’m all for 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 supply essentially the most aggressive value. This course of may help you discover considerably higher offers than you may get on a normal trade.
OKX Earn Providers
Staking
OKX presents quite a lot of methods to earn passive revenue in your cryptocurrency holdings via staking. Easy Earn is the simplest method to begin. It presents two classes:
Versatile (Financial savings): This selection lets you deposit your crypto and earn curiosity with most flexibility. You may withdraw your funds anytime. Versatile choices usually provide decrease rates of interest in comparison with fixed-term staking.Mounted (Staking): Right here, you lock your crypto for a set interval for doubtlessly increased yields. Throughout this time, your property actively take part in securing the blockchain community, subsequently incomes a much bigger reward. Rates of interest on mounted staking depend upon the particular cryptocurrency and the chosen lock-up time. For a tough concept, you’ll be able to earn as much as 100% APY on sure cash and much more.
Now, you’ve an alternative choice with “OKX Structured Merchandise”. These merchandise typically mix staking with market predictions or methods.
Twin Funding: You are expecting 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 special one.Seagull: It’s designed if you assume the market will transfer a lot in a single course. With this product, you select between Bullish BTC or Bearish BTC. You may doubtlessly enlarge income if the value of the crypto strikes considerably as you anticipated.Snowball: This robotically reinvests your earnings again into the staking pool, basically compounding your returns.
On-chain incomes is one other method to earn passive cash on OKX. This selection 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 characteristic is a method to borrow cryptocurrency with out having to promote your current holdings. You utilize your cryptocurrency as collateral. This implies you set up a few of your crypto as a assure that you simply’ll pay again the mortgage. If you happen to don’t, OKX can preserve your collateral.
The trade presents many property for loans reminiscent of BTC, ETH, USDT, ALGO, APT, and so on. You may select loans with both versatile rates of interest, which change hourly based mostly on market circumstances, or mounted charges for predictable prices. Versatile loans don’t have mounted compensation intervals, so you’ve higher management over if you pay it off.
OKX options a mean hourly APR of about 1% (topic to alter). This implies your rate of interest adjustments hourly based mostly on the lending market. How OKX determines this price will depend 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 energetic influences the rate of interest.
Jumpstart (Launchpad)
OKX Jumpstart acts like a launchpad for brand spanking new blockchain initiatives. Presently, OKX has launched 11 new initiatives on its Launchpad and raised a complete of $2.54 billion.
It has alternative ways to take part. Generally you may “mine” tokens by staking current cryptocurrencies you already personal. In different circumstances, you may have to pledge the OKB token (OKX trade’s personal cryptocurrency) to have an opportunity of shopping for the brand new venture’s tokens.
OKX Decentralized Finance (DeFi) Ecosystem
OKX Pockets
With OKX Pockets, you’ll be able to simply work together with decentralized purposes (DApps), commerce on decentralized exchanges (DEXs), discover NFT marketplaces, and far more.
It’s designed to be user-friendly. You may simply ship, obtain, and retailer a large 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 via greater than 400 DEXs and over 20 cross-chain bridges throughout greater than 20 networks to seek out one of the best Bitcoin and crypto costs.
OKX Pockets is non-custodial, which means you, and solely you, maintain the keys to your property. The Pockets is offered on totally different working methods. You should use it as a browser extension or make the most of the devoted cellular app for each Android and iOS units. And, for easy transitions between platforms, you’ll be able to 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 presents an NFT market. It helps NFTs throughout a variety of classes – artwork, collectibles, music, sport gadgets, 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 is because it gathers NFTs from all widespread marketplaces like OpenSea, Blur, LooksRare, X2Y2, MagicEden, and plenty of extra. This offers 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 centered on sectors like AI, the Metaverse, gaming, DeFi, sensible contracts, and extra.
Whereas the variety of cash is sweet, it may not be sufficient for individuals who wish to put money into very new, low-cap cash. OKX often focuses on itemizing older, extra well-established cash. If you’d like these tremendous new, riskier cash with the possibility for large income, exchanges like MEXC and Bybit typically add them a lot quicker than OKX.
Listed below are some widespread cryptocurrencies you’ll find 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 Evaluate
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 might be including liquidity to the market (maker) or taking liquidity away (taker).
It has a tiered payment construction based mostly 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 seem 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, it’s also possible to get a buying and selling payment rebate based mostly 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 comply with the same tiered maker-taker mannequin. For normal customers, it begins with 0.02% maker and 0.05% taker. Equally, it retains lowering with excessive buying and selling quantity and OKB holdings. For choices buying and selling, OKX prices 0.02% maker and 0.03% taker.
For extra data, you’ll be able to try the total OKX charges overview.
OKX Deposit and Withdrawal Charges
OKX doesn’t cost any charges for cryptocurrency deposits. Nonetheless, do keep in mind that you’ll nonetheless have to pay community charges (often known as gasoline charges) related to transferring cryptocurrencies on the blockchain.
Withdrawal charges on OKX range relying on the cryptocurrency you might be withdrawing. These charges are additionally up to date usually to mirror community circumstances.
For fiat currencies, if you happen to use third-party providers reminiscent of Mercuryo or Moonpay to purchase crypto, anticipate to pay extra charges and spreads starting from 2% to over 10%. Credit score/Debit card transactions additionally cost variable charges based mostly in your nation.
OKX Fee Strategies
OKX helps quite a lot 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 straight on the platform, you’ve 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 range based mostly in your payment degree. Customers with the next VIP degree will often have increased limits. For fiat currencies, these limits can change based mostly on cost strategies.
Fiat Forex
Fee 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 via 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 using 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 pretend 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 every 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 particular person 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 below its custody.OKX danger defend: It has an insurance coverage fund put aside particularly to guard your property within the unlikely occasion of a safety breach. It’s just 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 deal with might be blocked.Obligatory KYC (Know Your Buyer): OKX requires customers to bear obligatory KYC verification. This helps forestall criminality and ensures customers are who they are saying they’re.
OKX App Evaluate
Many individuals commerce crypto on their telephones nowadays. If you happen to’re one in all them, you’ll be completely satisfied to know that OKX has a well-made cellular app, that includes superior buying and selling functionalities and sturdy safety measures. It’s out there for each Android and iOS telephones. The OKX app has all of the necessary options it is advisable to commerce on the go. You may verify costs, place orders, and handle your portfolio from wherever.
The OKX cellular app additionally has a helpful “Lite” mode. That is designed for people who find themselves new to crypto and will desire a less complicated expertise. Nonetheless, extra skilled merchants may like the total set of options for higher management over their trades.
OKX Restricted Nations
OKX might prohibit customers from sure international locations resulting from regulatory causes or different components. Nonetheless, the checklist of prohibited international locations can change over time resulting from updates in laws or firm insurance policies.
On the time of writing, a few of the international locations usually 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 Assist
Whenever you’re coping with crypto, it’s necessary to have good buyer assist if one thing goes unsuitable. 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 plenty of articles and solutions to widespread questions.
For extra particular issues, you’ll be able to contact them in a couple 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 reside chat possibility the place you’ll be able to speak to a customer support particular person instantly.Social Media: OKX additionally has accounts on Twitter and different social websites the place you’ll be able to contact them.
Clients searching for help can attain OKX buyer assist via numerous strategies, together with submitting a web-based assist request, opening a reside chat window, or emailing the corporate. Moreover, a web-based assist middle is offered with solutions to ceaselessly requested questions.
The trade additionally receives fairly good rankings, reminiscent of 4.6/5 on the App Retailer and 4.5/5 on the Google Play Retailer. Nonetheless, 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 will be sluggish typically.
Person Expertise: Is OKX Simple-to-Use?
OKX presents a great 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 cellular app is the cherry on prime for on-the-go merchants.
The buying and selling platform itself is well-designed. It may be somewhat complicated 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 plenty of instruments for analyzing the market. These embody charts and methods to arrange totally different sorts of orders.
OKX Options to Think about
Binance and Bybit are widespread various cryptocurrency exchanges to OKX. Here’s a temporary comparability:
Options
OKX
Binance
Bybit
Based
2017
2017
2018
Fashionable 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 out there
No availability
Native token
OKB
BNB
BIT
Purchase Crypto on the OKX Platform?
Step 1: Create an Account
Go to the OKX web site or obtain their cellular app. You’ll see a button that claims “Signal Up”. Click on it. You’ll want to offer some fundamental data like your e-mail deal with and create a robust 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’ve obligatory 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 identification. That is obligatory! This course of is named 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 comply with the directions. Normally, you’ll want to supply an image of a government-issued ID (like a driver’s license or passport) and a selfie. The verification course of can take some time, typically a couple 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 piece within the menu bar that claims “Purchase Crypto”. Now, you should utilize both “Categorical Purchase” or “P2P buying and selling”.
For this information, we might be utilizing “Categorical Purchase”. Choose your most well-liked fiat foreign money, cryptocurrency, and cost methodology. It could take a while in your deposit to point out 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 piece known as “Commerce” and choose “Spot”. Right here you’ll see an inventory of various cryptocurrencies that OKX presents. Discover the buying and selling pair you wish to purchase (for instance, BTC/USDT or ETH/USDT) and click on on it.
You’ll see a buying and selling display screen with charts and costs. Determine how a lot of the cryptocurrency you wish to purchase and how much order you wish to place. A easy “market order” will purchase your crypto instantly on the present value. When you’ve positioned your order, OKX will do the remainder and you will notice your funds within the pockets.
Last Verdict
Our OKX platform overview discovered that it’s among the many trusted cryptocurrency trade apps for each freshmen and skilled crypto merchants. It has all widespread cash and tokens to select from. The charges are low, particularly if you’re a high-volume dealer. The platform can be straightforward to make use of for freshmen and there are many instruments and options for skilled merchants. OKX additionally has methods to earn curiosity in your crypto, which is a pleasant bonus.
Nonetheless, the draw back is that it’s restricted in sure international locations such because the US and India. Moreover, it doesn’t checklist all new initiatives and low-cap altcoins for buying and selling.
OKX Alternate Evaluate: FAQs
Who’s OKX Greatest For?
OKX is greatest for all ranges of cryptocurrency customers. As a newbie, you’ll admire its options like spot buying and selling, prompt fiat-to-crypto convert, and P2P marketplace for straightforward withdrawals and deposits.
Skilled crypto dealer will admire its superior buying and selling instruments, excessive leverage, and margin buying and selling choices. If you happen to like incomes passive revenue, OKX is nice for that too, with staking, financial savings, and DeFi options. In case you are a Web3 explorer, it has a non-custodial pockets, NFT market, and decentralized swap options.
Is OKX legit & protected to make use of?
Sure, OKX has a strong fame as a reliable and safe trade. It has greater than 50 million customers in over 100 international locations. It’s licensed within the Bahamas and not too long ago acquired a VARA registration in Dubai. The trade additionally makes use of industry-standard safety measures like chilly storage, multi-signature wallets, and publicly out there PoR knowledge for transparency.
Can US residents use OKX?
No, US residents can’t entry the principle OKX platform. Regulatory restrictions forestall OKX from providing its full vary of providers inside the USA. Nonetheless, 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 loads to supply new merchants. It has easy purchase/promote features, instructional assets, and demo buying and selling to observe with out risking actual cash. Nonetheless, its extra complicated options, like margin and futures buying and selling, could possibly be overwhelming for freshmen. If you happen to’re new, it’s smart to begin with the fundamentals on OKX and step by step discover its superior options as you achieve expertise.
Is OKX a Chinese language firm?
Sure, OKX has Chinese language origins. It was based by Star Xu in China in 2017. Because of altering laws in China relating to cryptocurrency, OKX moved its headquarters overseas. It presently operates from places like Seychelles and Dubai.
