Okx Review : Trusted Crypto Exchange For High Volume Trader

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About Okx Exchange

Okx Exchange is an innovative cryptocurrency exchange with advanced financial services. They rely on blockchain technology to provide everything you need for wise trading and investment.

Enjoy hundreds of tokens and trading pairs. With OKX, you can join one of the leading crypto exchanges by trading volume. We’re serving millions of users in over 100 countries. We’re providing spot, margin, futures, options, perpetual swaps trading, DeFi, lending, and mining services.

Okx Exchange adopts blockchain to build the next-gen financial ecosystem. We strive to eliminate financial barriers, evolve the global economy, and change the world for better. We never stop to innovate and improve our user experience to make cryptocurrency trading and investing available for everyone.

Information Table

Exchange Name Okx
Exchange Service Spot and futures trading
Exchange Launch Year2014
Made InHong Kong
Mobile App Android & IOS
Fiat Option Available
KYCRequired
2FA SecurityAvailable
Trading CommissionLow
Minimum DepositNo fiat deposit is allowed, So Traders trade using cryptocurrencies
Support CurrencyUSD, CNY, RUB, JPY, VND, INR & More
SupportEmail & Live Chat Option Available
Official WebsiteClick Here To Visit

How To Register At Okx Exchange ?

To register on Okx , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

Okx Review : Trusted Crypto Exchange For High Volume Trader

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Okx Account ?

There is no mandatory verification at Okx , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of 2 BTC per day. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitstamp, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Okx Crypto Exchange ?

There are two main options for topping up your balance on Okx . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

  • Go to the “Deposit” section from the “Assets” menu.
  • From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
  • The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
  • You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Okx Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Okx Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Deposit and Withdrawal Fees

There are no OKX deposit fees as such charged from the traders, but there is a small withdrawal fee charged from traders, but that is also very low as compared to what other similar cryptocurrency exchanges charge from their registered traders; 0.0005 BTC in the case of bitcoin, 0.01 in case of Ethereum, and 0.15 in case of Ripple. These are sometimes called work fees instead of withdrawal fees, as they are determined by the blockchain load of each digital asset on the exchange.

Trading Fees

OKX is one of the world’s top crypto spot and derivatives exchanges, and therefore the trading fee structure of OKX is slightly different from other crypto exchanges. OKX’s trading fee structure depends on whether a trader is a market maker or a market taker. However, most crypto traders are market takers rather than market makers because of the huge number of securities needed to validate a trader as a market maker.

The trading fees for market takers charged by OKX are a maximum of 0.15% for spot trading for traders with less than 500 OKB tokens. However, the maker fee/taker fee can be reduced to 0.06% and 0.09%, respectively, if the traders hold over 2,000 OKB tokens within the OKX wallet.

The maker fee and taker fee for futures and other perpetual markets begin at 0.02% and 0.05%, respectively, which can also be reduced depending on the OKB tokens held in the trading account. Thus, OKX exchange fees are more competitive. High net worth advanced traders with a huge trading volume during a 30-day period can also avail of further rebates and trading fee discounts.

Margin Fees

OKX offers margin trading, which means the platform allows its registered traders to borrow funds from their crypto exchanges. It is a tool that allows traders to open a position with more capital than what was initially deposited. OKX provides a margin trading ratio (or leverage ratio) of 10:1 and 20:1, and 100:1 when traders choose to buy crypto tokens through perpetual swap contracts. Therefore, the platform charges fixed interest rates on any position held overnight. OKX charges margin interest rates whenever tokens are borrowed.

OKX Deposits

Though OKX supports trading with both fiat currencies and digital currencies, it allows only cryptocurrencies to deposit funds into a trader’s account; there is no OKX fiat deposit allowed on the platform. Traders can either purchase cryptocurrencies on the OKX website with a credit card or can transfer cryptocurrencies from other exchanges or any best crypto wallet (or hardware wallet). Once their accounts are funded, they can directly begin trading on the OKX platform.

For buying cryptocurrencies, traders can use multiple payment methods like bank account transfer, debit card, credit card, Google Pay, Apple Pay, IMPs, or PayPal. After creating an account, new users can fund their wallets and start trading cryptocurrencies.

OKX Withdrawals

Traders can withdraw their preferred cryptocurrencies from the OKX platform with a small withdrawal fee of 0.0005 BTC in the case of bitcoin, 0.01 in the case of Ethereum, and 0.15 in the case of Ripple.

Features Of OKX Crypto Exchange

Available At Android & IOS Store

Phemex exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading .

Affiliate Program

Earn up to 50% of your invitees’ trading feesRank

Invite 10 active users to become an affiliate and start earning fees.

Link to OKX in articles, blog posts, and videos, or place ads on your websites.

New users sign up through your invitation link, you’ll start earning their trading fees.

Customer Service

Most of your OKX account needs will be self-service—plan to handle your trading and account updates yourself. If you need extra help, OKX offers a help page and chat support. There’s also a phone number listed on the OKX website.

Most information you’ll likely need to know is listed in a robust help center with details about using, updating, and maintaining your account.

Customer Satisfaction

OKX gets mixed feedback on consumer review sites. Positive reviews focus on an easy online experience, fast transitions, and low fees. Negative reviews mention poor customer service, lost funds, and slow withdrawals. At Trustpilot, OKX receives an average 3.4-star rating out of five across over nearly 300 reviews, which is a relatively high rating for a cryptocurrency exchange.

OKX Supported Countries

OKX is available to more than 100 countries with the following exceptions – Hongkong, the US, and its territories, North Korea, Sudan, Malaysia, Cuba, Ecuador, Iran, Syria, Bangladesh, Bolivia, and Kyrgyzstan.

OKX Regulation and Security

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 one of the safest crypto trading platforms in the world that has never been hacked and thus does not have any negative reviews against it.

Mind Blowing Design

They’ve done a great job with making the homepage easy to navigate. The only drawback is that, with the white background, it can be hard on your eyes. Other than that, you’ll find their charts and trade tools easy to use if you’re already familiar with Trading view.

Conclusion

The OKX exchange is listed on sites like CoinGecko and CoinMarketCap. You’ll find high trading volumes, especially for futures. With a premium account, you can save a lot of money when buying it for one year; at the same time, all commissions for spot-trading will be waived. If you’re unsure about anything, there’s always a test platform that offers virtual assets. On OKX , the user doesn’t have to go through any verification; however, we recommend it if you want full functionality and many bonuses.

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