How to Use OKX

How to Register OKX

To create an account on the exchange, just head over to its official website and click the Sign Up button, which you will see in the upper right corner of the webpage. Follow the steps asked of you here, like adding your email or phone number, setting a password, etc., and then move on to the KYC procedure if you don’t want to come across any deposit or withdrawal limits.

KYC Verification

There are three verification levels within the KYC process. While you can complete the first two through its website, for the final one, you can only do it through its mobile application. Hence, it may be better if you did all three using its mobile application instead.

So, download its mobile application if you haven’t already, and open it. Log in to your account, tap that profile icon that you will see towards the upper left, and then choose Identity Verification. After that, just follow the page prompts and finish all of the KYC levels, which entail basic, advanced, and video verifications.

Set Up Two-Factor Authentication (2FA)

Users on OKX can safeguard their funds if they activate the multiple security measures that the exchange offers. As of this moment, there are six such measures that users can use. The first two are account verification emails and setting up strong passwords, which the sign-up process already covers. The other four include 2FA, the Authenticator app, an anti-phishing code, and mobile verification. For the sake of brevity, we will only be covering 2FA. You can check out the rest by going through its Security tab.

When you enable it, 2FA will be needed whenever you log in to your account, send a red packet, or make fund withdrawals. Go to the tab called Security Settings and select Turn On to turn this feature on. Following that, click the Get code button to get an SMS code. Add it to the relevant field and select Confirm.

Is OKX Available in the US?

Unfortunately, from what we have gathered, the OKX exchange and its services are restricted to US-based investors, which is something even its User Agreement Policy acknowledges or highlights.

How to Deposit in OKX

To begin trading on OKX, you’ll need some funds to trade with, and to have those, you need to make a few deposits, the details of which are covered below–for further info about how to deposit in OKX.

Deposit Fiat

While you cannot deposit Fiat on the platform, you can deposit cryptocurrency using the various Fiat payment methods it offers, like credit cards such as Visa or MasterCard, bank transfers, and even ApplePay credit cards. 

To buy cryptocurrencies using these methods, just log in to your account and point your cursor to the Buy Crypto option towards the upper left side of its website, which will be followed by a drop-down menu opening. Select Buy with card.

Next, choose the cryptocurrency you want to buy, and then enter the amount you are prepared to pay with any of the Fiat currencies it supports. After that, just click the Buy button below, and you can then choose what payment methods you wish to use.

Deposit Crypto

Depositing cryptocurrency on the platform is relatively straightforward, and you can do so by using the Fiat methods mentioned earlier or via its non-Fiat options. For the non-Fiat option, just go to its website, choose the cryptocurrency you want to deposit, and select the correct deposit network. Then, copy the deposit address that is automatically generated, paste it within the withdrawal page of the platform you are initiating the transfer from, and that’s it; your cryptocurrency will be deposited within your OKX account shortly.

How to Trade on OKX

Now that you are aware of how you can register on the platform and deposit some funds, we can move on to some of its trading features.

On OKX’s YouTube channel—How to make a trade on TradingView OKX Crypto Exchange.

Spot

To engage in spot trading, point your cursor towards Trade on its homepage, and from the drop-down menu, choose Spot. In the spot trading section, select a trading pair from the list towards your left while paying close attention to the order books and the latest stats concerning the trading pair, as they can be vital in maximizing returns and assessing fees.

If you don’t have enough funds in your spot account, then you can move some from your funding account to it. To do that, just go back to its homepage, and from the Assets drop-down menu, select Transfer to go to the transfer page to fund your spot account.

After this, just navigate to the buy and sell section below to place your order. However, to place your order here, you will be asked for your fund password, which you will have to enter.

Perpetual Swaps

To use perpetual swaps on OKX, go to the perpetual swap page by selecting it from the Trade drop-down menu. Select your perpetual swap contract and the leverage type you will use in trading. Then simply enter the details of your order, such as Price, Amount, or whether you want to buy long or sell short, and then execute it. What’s more, you can set up your orders by using TP or SL as well, which stands for Take Profit and Stop Loss. Once all that is done, you can review your open position at any time.

Interested in stacking Stacks on OKX wallet? Please refer to How to Stack STX and Earn Bitcoin on the OKX Wallet.

Copy Trading

To use this feature on OKX, open its mobile application and tap Discover. There will be a menu at the top, which you can swipe right to find Copy Trading. You will then land on a page where you can see your own PnL (profit and loss), feed, market board, and leaderboard.

To copy a trade, go to the market board, which you can sort by using the various filters it offers, like PnL, win rate, and more. If you find a leader that you like, tap on their profile and select Copy Now. After that, enter the amount you are willing to spend per copy and the maximum amount. If you add, let’s say, 200 USDT in the per copy field and 2000 USDT in the maximum, this implies that you’ll spend 200 USDT on every copy until you reach your maximum amount. Tap Copy Now, after which you will see a confirmation screen, and then tap Copy Now again.

If the trader you are copying opens up new positions, you can view them in the open order section. You can amend your orders by going back to the main page and tapping on My Copies and Settings. And if you want to stop copying, you can do that by clicking the icon in the top right.

Trading Bot

To access OKX’s trading bots, which serve to automate your trading, go to its homepage, and from the Trade menu, select Trading Bot. Once you have been directed to the Trading Bot page, you will see various bot strategies for you to choose from, like DCA bots, slicing bots, Futures Grid trading bots, and more–How to use OKX’s Crypto Recurring Buy Trading Bot to Dollar Cost Average (DCA)

Within the Bots tab found in your trading dashboard, you can see the trades you have generated through this feature and other details, like profitability and the option to stop your bots manually.

If you wish to stop any active bots, simply click the Stop button. You can then exit your position or keep any traded assets. Select the option you want, and click Confirm.

To find out more about its individual trading bots, go to How to use OKX’s crypto trading bots | OKX

Grow

The Grow section is representative of the services that OKX provides for the sole purpose of growing your portfolio.

Earn

The earn option, as its name implies, comes with services that allow you to earn from your current investments. These services include Simple Earn, On-chain Earn, and Structured Products.

Have you heard about Web3 Earn? Here is Stake Crypto with confidence on OKX Web3 Earn

Loan

This aspect is pretty self-explanatory and is indicative of the platform’s lending services. Here, you can receive some loans, which you can then use in your trading.

In case you are familiar with the Bitcoin Ordinals, the NFT marketplace for Bitcoin–How to buy BRC-20 tokens on OKX Wallet Ordinals Market (Bitcoin Ordinals)

FAQs