OKX Review: Dive Deep & Uncover the Truth 2024

okex review

It’s a quick and easy way for beginner to expert cryptocurrency enthusiasts to buy, hold, and exchange hundreds of popular cryptocurrencies with competitive trading fees. Yes, OKEx is one of the best crypto exchanges that offer a wide selection of cryptocurrencies, many crypto services, and some of the lowest trading fees in the crypto space. Regular users are tiered into 5 levels based on their OKB holdings and 30-day trading volume, while VIP users are tiered into 8 levels based on their asset balance and 30-day trading volume.

Worst customer service dont use this app

okex review

The basic forms to buy and convert cryptocurrency are simple and intuitive. This is good for people new to cryptocurrency looking to buy their first Bitcoin, Ethereum, or any other supported currency. If there’s a coin you’re looking for, there’s a good chance you’ll find it at OKX. Access over 45 popular coins and altcoins and staking to earn interest. Yes, OKEX is registered in Hong Kong and Malta, and its trading services are in line with the Virtual Financial Assets Act (VFAA), a regulated authority under Malta Financial Services.

Trade Crypto Spot, Futures, and Options With This Top Exchange

We may receive compensation when you click on links to products we review. OKX, like many crypto exchanges, has its advantages and disadvantages. For everyone else, our verdict on OKX comes down to whether it’s learned from the false volume incident and the fallout from its CEO’s arrest. Frankly, given the manipulative nature of features like Shark Fin, it doesn’t seem like OKX is putting trader satisfaction ahead of liquidity in 2023. We tested it by coming in with a typical problem — how to deposit crypto from another wallet — and took some time to find the article.

OKEx Trading Platform

okex review

Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. Upon completion, you’ll be presented with details such as any applicable transaction fees, estimated processing time, and the total amount. Please note that wire transfer fees may fluctuate depending on your bank and any intermediary banks involved. Additionally, your withdrawal limits are contingent upon the level of identity verification you have completed. One final feature worth mentioning is called “copy trading.” This feature lets users join communities led by experienced crypto traders, who are selected for their high rates of return. Members of a trader’s entourage can automatically execute the same trades they do, while the lead trader gets 10% of the profits.

So the fact that OKX has built a bridge connecting a user-friendly CeFi interface with the powerhouse of DeFi deserves a standing ovation. You can learn https://www.tokenexus.com/ more about the feature-packed OKX Wallet in our OKX Web Wallet Review. OKX have launched their token sale platform, which they call Jumpstart.

okex review

  • This ranks very well even among the most competitive fee offerings in the sector and can drop to as little as 0.02% as a taker fee with negative fees of -0.01% for makers at their highest tier.
  • Apart from being a trading exchange, OKEx also provides cryptocurrency financial services.
  • Although OKX previously offered fixed-term loans, the exchange platform now exclusively offers flexible loans, which enables users to tailor their lending to their needs better.
  • 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.
  • The app is well-designed and easy to use, and it supports a wide range of cryptocurrencies.
  • This OKX review points out that the competitive fee structure at OKX is a plus point for crypto traders.
  • Consult with a qualified professional before making any financial decisions.

One of the best ways to invest in new cryptocurrencies before listing is through Initial Coin Offerings (ICOs), as they enable users to buy at the earliest possible stage and often for a discount. OKX has released its own project launchpad called OKX Jumpstart, which has raised over $120 billion since launching in December 2020. The platform’s sub-account feature is a game-changer, allowing for diversified trading strategies without risking the entire fund – especially useful for aggressive or experimental trades. The ‘Learn’ section is a treasure trove, packed with everything from crypto basics to advanced trading strategies. It’s akin to Binance’s learning hub, providing a comprehensive understanding of the crypto world.

  • While much of OKX is transparent, hidden cost details are a red flag that may send you to another exchange with transparent fee schedules.
  • Despite its origins, OKX is subject to a comprehensive ban by Chinese regulators, indicating a significant pivot away from its initial base.
  • The owner(s) of this website may be compensated to provide opinions on products, services, websites and various other topics.
  • However, most cryptocurrency traders are market takers rather than market makers because of the many securities needed to validate a trader as a market maker.
  • Generally speaking, the “maker fee” is paid by the person who initiates the order to buy or sell, while the other party that completes the complementary transaction pays the “taker fee.”
  • Users can access and explore the Web3 universe with the help of the decentralized multi-chain wallet known as OKX Web Wallet.
  • If you want to try your hand at crypto mining to earn passive income, OKEx is a great place to be.
  • Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years.
  • Decentralized finance, or DeFi, is one of the fastest growing areas of smart contracts and blockchains.
  • According to Glassnode, Proof of Reserves (PoR) displays the assets held on-chain and matching liabilities held both on and off-chain.
  • He’s written about every type of automated trading tools – from cryptocurrency robots, binary option robots, down to robo advisors.

However, compared to ByBit, which provides 10x leverage and pairs denominated in USDC, USDT, BTC, and DAI, OKX’s margin trading capabilities are limited. OKX users have access to several innovative trading features and financial tools. As a result, the exchange is considered a leading one-stop cryptocurrency platform. OKX is a world-leading crypto exchange serving over 20 million users in over 100 countries. The Seychelles-based cryptocurrency exchange has been operating since 2017. And is licensed by several authoritative bodies, including Dubai Virtual Assets Regulatory Authority.

Under OKX (Previously OKEx) P2P Trade, click on the currency you want from the dropdown menu and select the desired currency. Next, enter the amount and payment mode, and finally, click on the “BUY” option to buy that cryptocurrency. Using this, users can earn Bitcoin and Rebate cards for completing the tasks and free Bitcoin learning missions. Please keep in mind that users must complete the tasks before 30 days of registration to claim the rewards. On Trustpilot, OKX has a rating of 2.5 stars, however it is worth noting that this is after just 15 reviews – it’s hard to get a good idea of what the exchange is like from such a small sample size. If you look at the Apple App Store or Google Play Store, OKX has a much better rating of 4.9 and 4.5 stars, respectively.

OKX Exchange Fees

This UI is similar to that of the likes of Deribit for those of you who have used that exchange. You will see an overview of all of the PUTs and CALLs and the different expiries. Note that Fiat withdraws are not available in most countries, so you will likely need to find an alternative fiat offramp. Once you have sent your funds over, you will have to wait for one confirmation before it is credited. If you would like to track your deposit, you can use a blockchain explorer.