The exchange discusses the main benefits of its brokerage program, and these include high commissions, product performance boosts, and 24/7 support. To become an OKEx broker, applicants must own an independent product that supports API trading, over 500 BTC in monthly volume, and at least 2,000 monthly users. Time-weighted average price (TWAP) orders and iceberg orders were first seen on OKEx, and they’re commonly used by the platform’s traders due to their benefits. You can also select “Margin Trading.” This will allow you to use leverage to try to amplify returns when trading in futures, advanced options, and perpetual swaps. The advanced service allows professional traders to engage in sophisticated transactions involving multi-currencies to maximize profits. It’s the ‘go-to’ place for beginners because it’s super easy to buy and safely store crypto.
Although OKX carefully cultivates its image, it’s been mired in several controversies. In 2020, founder Xu was briefly arrested in connection with a fraud investigation. For approximately a month, while he was held, no users could withdraw funds from OKX. The incident damaged user confidence and dropped the price of OKX’s own coin, OKB, by about 11%.
- OKX is an exchange on which traders can invest in crypto tokens and currency pairs.
- To do this, you need to complete a few questions to make sure you are familiar with futures trading.
- OKX (Formerly OKEx) is a cryptocurrency exchange that was founded in 2017 by Hong Kong-based Xu Mingxing.
- Within these categories, they can certainly rival some of the very best in the industry and often come out on top.
- It provides advanced cryptocurrency financial services to millions of users in over 100 countries.
The exchange supports well over a hundred cryptocurrencies and tokens with the regular addition of new options. High net-worth advanced traders with a high trading volume during a 30-day period can also avail of additional rebates and trading fee discounts. OKX allows both crypto-to-crypto as well as fiat-to-crypto https://www.tokenexus.com/ trading. In the case of crypto-to-crypto, global cryptocurrency traders can directly start doing that once they have funded their trading accounts on the OKX exchange. OKX allows multiple trading options like spot trading, margin trading, futures trading pairs, options, DEXs, or perpetual swaps.
What can you do at OKEx?
Before you sign up with OKEx, there are a few tools and features you should familiarize yourself with, as detailed below. OKEx was founded in 2017 with headquarters in Malta and the Republic of Seychelles. CEO of OKEx, JayHao, had a background in game development and the semiconductor industry before joining the cryptocurrency space. Investing.co.uk has been helping British traders find the right broker for over 20 years. Cryptocurrency can be transferred to your own wallet, whether that is a web, hardware or mobile wallet.
Users will then be directed to a separate page where OKX offers the best prices for cryptocurrencies provided by third-party services. After the OKX account verification with the 6-digit pin code is done, the users will have to fund their respective accounts. OKX allows multiple okex review coins to make the deposits, and therefore users can choose from their preferred cryptocurrencies to fund their accounts. There is a separate tab named “Assets,” clicking which the pop-up menu will appear, and users can select the “deposit” option to make the deposits.
The only time their security has been compromised was when a private key holder was put under a public security bureau investigation. They withheld their user withdrawals for six weeks during that time, much to the consternation of their users. However, this event may have shown that OKX is a responsible platform. OKX did not want to compromise the funds of their users and was communicating with their users during this time.
Select the cryptocurrency you wish to buy, the fiat you want to pay with, and how much you want to invest. It takes about 1-15 minutes for your funds to be credited to your account. This can be done in either of two ways; you can download the OKEx app and create an account, or if you are more comfortable with a desktop, head down to their official website.
OKX Supported Countries
However, no exchange is 100% hacker-proof, so make sure you transfer most of your crypto assets to a non-custodial wallet or lock them offline in cold storage with a hardware wallet. There’s also the OKEx app which enables users to trade and monitor their crypto portfolio on the go. OKEx is a one-stop cryptocurrency platform based in Seychelles. It was founded in 2014 and aims to better the future of crypto and become the world’s most powerful exchange. OKEx crypto is one of the top crypto exchanges out there, allowing crypto enthusiasts in more than 200+ countries to dabble in crypto. It was difficult to find the path to receive support from an actual person instead of a chat bot.2.
Cryptocurrency mining can bring in considerable profits, but it often entails expensive investments in powerful hardware, as well as electricity consumption costs. Mining pools allow investors to pool their assets together in order to ‘rent’ server space, that’s then used to mine a series of supported cryptocurrencies. The crypto earn feature has become incredibly popular as of lately, especially in the decentralized finance space. Rather than just hodling cryptocurrency, users now have the possibility to earn significant interest rates from their coins.
OKEx offers 300+ crypto coins, while Coinbase offers around 150+ cryptocurrencies. Trading fees are quite high on Coinbase, starting at 0.5%, while OKEx fees start at 0.1%. However, Binance remains the largest crypto exchange in the world and offers more crypto coins and more crypto services than OKEx.
- The trading platform is also quick, providing access to real-time rates and allowing you to place orders in a split second.
- The most notable one is the United States of America, which has limited the activity of foreign crypto exchange platforms, which are now subject to regulatory approval.
- What’s neat about the fee tier structure is that it highlights which one you’re on, so you know exactly what fees you will be paying.
- However, no exchange is 100% hacker-proof, so make sure you transfer most of your crypto assets to a non-custodial wallet or lock them offline in cold storage with a hardware wallet.
- For active institutional and retail traders looking for a highly functional yet simplistic trading interface developed by a well-respected global exchange, then it is well worth a spin.
- Visually, OKX has one of the more pleasing trading platforms of any exchange right now.