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okex review

The OKX exchange is an innovative crypto platform for basic and advanced financial services. It is one of the top 10 exchanges in the industry in terms of traffic, liquidity, and trade volume. The platform enables one-click fiat-to-crypto transactions, spot trading and derivatives and margin trading. OKX operates its own blockchain network called OKChain for some of its services. Additionally, the exchange supports transactions on various other blockchain networks, allowing users to trade and interact with a wide range of cryptocurrencies that operate on different networks.

Before making financial investment decisions, do consult your financial advisor. Now, in most cases, I’d recommend getting a secure crypto wallet, such as Ledger and Trezor, to protect your assets; however, it seems that OKEx took care of it. OKEx has its own cold wallet that will keep your private keys offline. Please note that Bitcompare does not offer advisory or brokerage services. We also do not offer financial advice on potential investment opportunities.

OKX Customer Support

There have been rumors about OKX being hacked in the past, but the exchange maintains that it has never been hacked. The security of the exchange does seem to be in line with the standards in the crypto industry using cold storage and distributed server clusters. Decentralized exchanges allow traders to be in full control of their money and directly transact with other traders. Here’s a look at how it compares to another popular exchange, Coinbase. Unverified accounts can withdraw up to 10 BTC per day and trade up to $500, while higher levels give you higher withdrawal limits and transaction limits. The advanced platform is useful when margin trading or any other advanced strategy.

  • Powered by Visa, the card is accepted pretty much anywhere and has no yearly or activation fees.
  • It allows traders to invest in cryptocurrencies like BTC, ETH, or USDT.
  • OKX users can log into their accounts and select „Audits“ to view the most recent audits that have been completed.
  • Holders can stake the token for rewards and access other platform incentives.
  • The quickest and most convenient method to purchase crypto with fiat is by using a debit or credit card.
  • This makes it possible to test strategies quickly without spending real money, which makes trading far more accessible to those without experience.
  • If you want to trade futures, you will first have to activate your futures account.

Till now, there have been no rumours of having OKX (Previously OKEx) hacked. Moreover, when it comes to security and reliability, OKEx is one of the leading platforms. A full description of the ‘earn’ financial products available on OKX is available here. The revenue calculation is based on various Defi products, which are used in tandem to facilitate a growing decentralized financial economy. All in all, the app’s user interface is good for both beginner and more professional investors.

Stop Limit Orders

OKX fees are based on a maker/taker fee model depending on asset holdings and/or 30-day trading volume. OKX (Previously OKEx) exchange platform provides a mining pool, which is a shared group of cryptocurrency miners. These miners combine their computational resources over a network to mine digital assets. Besides this, it also supports Proof-of-work (PoW) mining of nine significant cryptocurrencies.

  • Additionally, holders will also have voting rights and the ability to invest in Jumpstart IEOs, trade on the decentralized exchange and a few more benefits.
  • This tool checks that the data is captured in OKX’s Merkle tree snapshot.
  • It boasts an impressive list of services that include flexible borrowing and ways to earn interest on staked tokens.
  • If you pop on over to the position tiers guide, you will see that the 100x leverage (or 1% margin) only applies to those positions that are less than 3,000 contracts.

The fact that OKX is licensed and regulated also provides users with extra peace of mind. The primary drawback of OKX is the inability to withdraw fiat to bank account. OKX further keeps funds safe by ensuring only key personnel located on separate continents can access private keys, which are stored as QR codes, so they never need to be entered online. Furthermore, these private keys are stored in bank vaults in secret locations around the world. OKX also enforces multi-signature authorisation, making internal theft unlikely. The OKX wallet may just be one of the most functional, convenient and useful Web3 wallets created.

OKX Options Platform

OKX is a great trading platform that accommodates both entry-level and professional investors. They have a simplistic interface that beginners can easily navigate and advanced trading tools which expert traders would appreciate. Overall, the user interface is very well laid out and organised where key functions including deposits, withdrawals and transfers are easily identifiable. okex review OKX has done a particularly good job of integrating the trading interfaces with its Web3 wallet, crypto trading bots, and demo account that can be toggled with a few clicks. OKX is popular for its advanced trading features, spot, margin, and derivatives products, and massive selection of crypto-centric products that make this a great all-in-one platform.

okex review

In addition to Earn products, OKX users can utilize their crypto holdings to magnify their exposure in the digital currency markets via crypto-collateralized loans. Funds borrowed via crypto loans can be used across the platform’s numerous services, including spot and derivatives offerings, and Earn products. OKX was founded by Star Xu in 2014 in China, but the exchange was recently relocated to Malta, considered to be the ‘blockchain island’. OKX enables customers to buy cryptocurrencies using their credit card and participate in its mining pool to stake 8 different cryptocurrencies.