Table of contents
- About OKX
- OKX review
- Trading costs
- Platform security
- Token availability
- Platform liquidity
The OKX Exchange started in 2017 and was founded by its current CEO Star Xu, Also known of OKCOIN. With over 50 million users worldwide OKX is the second largest Exchange in the world. The headquarters of OKX is currently located in Seychelles. Despite the large number of users of OKX, the exchange is not allowed to serve users in for example the USA, United Kingdom and Singapore.
OKX seeks to distinguish itself in the following areas:
- Wide range of Cryptocurrency: OKX offers an extensive range of cryptocurrencies to traders interested in various digital assets.
- Advanced Trading Features: The exchange provides advanced trading tools, including futures, options, and margin trading, appealing to both novice and experienced traders.
- Strong Security Measures: OKX prioritizes security with features like cold storage, encryption, regular security audits, and two-factor authentication (2FA).
- Innovative Products: OKX introduces innovative financial products and services in the cryptocurrency space, such as OKX Jumpstart and OKX Pool, offering unique opportunities to users.
OKX prioritizes the security of cryptocurrency trading with a comprehensive set of measures. The exchange takes a multi-faceted approach to protecting user assets and data. Most users' funds are stored in cold storage, keeping them offline and safe from online threats. OKX also uses robust encryption methods to protect sensitive information and conducts regular security audits to identify and address potential vulnerabilities. In addition, user accounts are reinforced with two-factor authentication (2FA) for an additional layer of security.
Take advantage of additional bonuses through OKX
Not using OKX yet? Then quickly sign up below and take advantage of attractive bonuses and promo codes. OKX also regularly has attractive actions and promotions for its users.
Sign up here:
In order to make a good judgment about OKX as a trading platform, the platform was assessed based on four pillars:
- Trading costs
- Platform security
- Tokens Available
- Platform liquidity
OKX Trading Fees
OKX offers trading fees ranging from 0.06% to 0.10%, making the trading fees very competitive in the market. The platform distinguishes between takers fees and makers fees. The takers fee starts at 0.10% and decreases to 0.08%, the higher the volume the lower the fee. The makers fee starts at 0.08% and decreases to 0.06%. Again, the higher the volume the lower the fee.
OKX offers VIP users even better trading fees:
Information on how to become a vip user can be found here.
The most common payment options are also easy to use at OKX. For example, you can use the following methods:
This way you can easily transfer money through the platform to your own bank account.
OKX prioritizes the security of cryptocurrency trading with a comprehensive set of measures. The exchange takes a multi-faceted approach to protecting user assets and data. Most users' funds are stored in cold storage, keeping them offline and safe from online threats. The customer service is available 24/7 for all your questions so all users worldwide can always ask their questions.
Two-Factor Authentication (2FA)
Like most other exchanges, OKX uses Two-Factor Authentication (2FA). This feature adds an additional layer of protection beyond passwords, requiring users to verify their identity via an authentication app or mobile code. By implementing 2FA, OKX improves security and prevents unauthorized access to user accounts and funds.
In addition, OKX uses cold wallets to store most of users' money. With this, OKX keeps cryptocurrencies offline, greatly reducing the risk of online attacks and ensuring the safety of user assets.
Supported Cryptocurrencies on OKX
As a leading centralized exchange (CEX) you are guaranteed to find the most popular cryptocurrencies such as BTC, ETH, XRP, BNB, and ADA. There are over 350 cryptocurrencies, so you may even find a hidden gem…
One of the most valuable tools on OKX is the advanced chart feature. It allows users to perform technical analysis on various cryptocurrencies and monitor market trends. Through the OKX trading spot, traders can easily buy and sell cryptocurrencies at current market prices. Thus, trading on the platform is simple, making it suitable for novice traders but experienced traders can also trade here in a sophisticated manner.
The OKX app is a robust tool for cryptocurrency traders. The user-friendly interface provides access to a wide range of digital assets and promotes versatility in trading strategies. The responsiveness of the app ensures efficient trade execution. Security is also a priority in the app, evident through two-factor authentication (2FA) and cold storage for user funds.
Real-time market data, charts and alerts enable users to make informed decisions, even on the go. While the app is suitable for traders of all skill levels, beginners may initially find the extensive features somewhat daunting.
The benefits of OKX
The benefits of OKX are multifaceted and attractive to both novice and experienced traders. With an extensive range of cryptocurrencies, OKX allows users to trade a diverse range of digital assets. Additionally, the platform supports various trading tools, such as spot trading, futures trading, margin trading and options trading, allowing users to tailor their trading strategies to their individual needs. Below you will find some of the features you can make use of at OKX.
Trading and investing in cryptocurrencies is clearly the main purpose for using a centralized exchange and OKX has simple, easy and advanced tools to make the experience as smooth as possible for you. Within OKX trade, you will find various features such as:
Simply swap your FIAT or exchange any cryptocurrency for another using OKX’s amazing convert feature which has ZERO FEES and no slippage!
OKX Basic Trading
Thanks to OKX, beginners can enjoy the feeling of trading like a pro by using their ultra-simple Trading features. The first is simply Spot trading, allowing you to trade hundreds of top-tier cryptocurrencies.
Most unique is their ‘Simple Options’ basic trading feature which requires users just to set their target price and preferred trading direction (up or down), then just to buy and wait for the trade to close. This is for users who are inexperienced with reading charts and want to simply long/short the cryptocurrency of their choice, without any experience.
Derivatives & Margin Trading
Trading Pros will feel superior using OKX’s advanced Derivatives & Margin Trading features.
Margin, Futures and Options trading are a staple to most centralized exchanges, which you will also find on the OKX exchange. However, OKX also has what’s called, Perpetual Swaps.
Perpetual Swaps are a category of cryptocurrency derivative that enables traders to place long/short trades on a specific asset. This unique and amazing feature allows traders to apply leverage while also not having to own the asset at all!
Don’t have what it takes to perform leveraged trades or simply do not have enough time in the day?
Well, thanks to the OKX exchange, you can follow your favorite trader, invest in his trades, trade for trade! You don’t have to do anything but sit there and watch your portfolio move on its own.
This does come with risks. You are relying on the knowledge and skills of the trader you are copying, so copy trade at your own risk.
Automate and earn 24/7 using OKX Trading Bots! With over 7.43M bots and trading strategies, you can find the perfect strategy for you, no matter the time or conditions.
There are various types of trading bots, such as:
- Grid Bots - Simple strategies allowing you to buy low and sell high.
- Signal Bots - Create & Customize your own signals.
- DCA Bots - A trading strategy allowing the bot to dollar cost average into your favorite cryptos at the best possible price.
- Arbitrage Bots - This clever bot can buy and sell assets to profit from changes in the cryptocurrency price.
- Slicing Bots - Designed for trading whales, they can lower trading costs by reducing slippage on large orders.
OKX Grow (Earn)
Your bank doesn’t want you to know about OKX Grow (Earn). Why? Because their yield is so much better. Fancy earning passive income, then let’s dive a little deeper!
If you have a low-risk threshold, then OKX Simple Earn is perfect for you. This simple and easy feature allows users to lend their cryptocurrencies out to traders who are leverage trading. Simply stake/lend your assets and earn an APR of up to 136% (APRs will vary).
Structured Earning Products
OKX offers three structured products to support users navigate the markets with zero trading fees.
First up, we have Dual Investment which allows users to Buy low, Sell high and Earn extra interest on a wide range of cryptocurrencies such as Bitcoin, Ethereum, USDT, Bitcoin Cash and many more. The yields are mouth-watering, expect to earn over 100% APR on your favourite assets.
Snowball guarantees smaller risks and higher yields. For those bullish, you can earn USDT in bullish or stagnant markets and you will receive crypto in bearish market conditions. If you’re bearish, you will earn crypto in bearish or stagnant markets and USDT in bullish market conditions. Compound your way up or down the mountain…
What if I told you, that you can earn USDT in any market condition?
Well, yes you can. Sharkfin is a great savings tool available on many large centralised exchanges that enables users to explore Bitcoin and Ethereum price changes without risking their initial investment amounts.
OKX On-Chain Earn
Decentralised Finance is irresistible, even to the centralised crypto entities. Users can Stake either single or dual assets spanning from Ethereum, Apecoin, USDC and many different altcoins, all On-Chain across a variety of different DeFi protocols.
Traders are forever borrowing assets. What can you do about it? Loan them the funds is the short answer! You will earn a stable yield on assets such as USDT, ETH and USDC.
OKX Jumpstart (Launchpad)
Get a jump start and get in early on new and upcoming cryptocurrencies. The OKX Launchpad has seen over $3.5B raised with over 13 projects listed, such as SUI, TAKI, ELT and many others.
In conclusion, OKX is an excellent exchange with a great variety of tools, cryptocurrencies and security. It would be great to see Margin and/or Futures trading integrated to the OKX exchange, but for now, Market & Limit orders will have to do!
- User-friendly interface
- Top-notch security
- Extensive coin selection