What is OKX?
OKX Exchange is a digital asset trading platform that offers a wide range of crypto-to-crypto trading pairs, cryptocurrencies, tokens, and other digital assets. The exchange has a user-friendly interface that makes it easy for users to navigate and is accessible to both novice and experienced traders.
The trading dashboard displays all the necessary information in real-time, making it easy for users to keep track of their trading activities. The platform also offers a variety of order types, including market, limit, and stop-limit orders, allowing users to customize their trading strategies to suit their needs.
OKX offers a secure, easy-to-use environment and a reliable way to buy, sell, and store digital assets. OKX also provides its users with advanced trading tools and low fees with the tools needed to manage their digital assets in one place, including a comprehensive range of order types, market data, and charts. Furthermore, OKX has implemented a range of safety measures to ensure the security of its users’ funds.
OKX’s simple and intuitive trading form allows users to buy crypto using a card, bank account, or digital wallet with ease. The site also supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products like mining pools and its own blockchain called OKC Chain.
Who created OKX?
OKX is a cryptocurrency platform formerly known as OKEx, one of the world’s leading digital asset trading platforms. Founded by Star Xu in 2017, OKX is based in Seychelles and offers spot trading services for a wide range of digital assets, including Bitcoin, Ethereum, Litecoin, and more.
Pros & Cons of OKX
- OKX gives about a 10k Bitcoin signup bonus, and if the user signup with OKX Referral code, then it will further provide the new user with a $10,000 OKX Mystery Box and 20% off trading fee.
- Trading fees begin at 0.10% and go down with higher trading volumes or more extensive holdings of OKB tokens, which is OKX’s native currency.
- By staking some cryptocurrencies, users have the opportunity to earn an annual interest rate that is greater than one hundred percent.
- You can buy currencies with just a few clicks by using a credit or debit card, transferring from your bank account, using Apple Pay or Google Pay, or using one of the other supported methods.
- Because of constraints imposed by regulations and compliance requirements, users who live in the United States cannot use OKX.
- Trading in certain currencies is characterized by a low degree of liquidity, even though the exchange is ranked among the top 20 exchanges in the world.
- Reviews can be seen on the online platform regarding OKX Exchange that it has lousy customer service and that users have lost their money, thus declaring it a scam.
Is OKX safe?
OKX is considered to be a safe and reliable digital asset trading platform. It offers a wide range of security features, such as two-factor authentication, anti-phishing codes, withdrawal passwords, and strong encryption, to protect user funds and assets. OKX employs a multi-signature process for all transactions, which helps ensure that all transactions are secure.
In addition, OKX follows strict Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements which are designed to prevent money laundering and the financing of terrorism, and employs advanced risk management practices to ensure the safety of its users.
As told before, OKX is a fully compliant exchange that adheres to the regulations set by the relevant authorities. This means that users can be confident that their assets and information will be safeguarded in accordance with the highest standards.
What does OKX do?
- OKX offers advanced financial services and a wide array of trading options, including spot trading, margin trading, options, perpetual swaps, decentralized finance (DeFi), lending, crypto mining services, and more.
- OKX is known for its low trading fees, fast transaction processing times, and advanced security measures that ensure the safety of its users’ assets and information.
- One of the critical features of OKX is its security measures. The exchange uses advanced encryption techniques to protect user data and assets and also has a robust risk management system in place.
- OKX also offers a mobile application that allows users to trade on-the-go. The app is available on both iOS and Android and offers all the features of the web-based platform.
- OKX has a native wallet feature that supports 36 digital assets, and it integrates seamlessly with the main OKX trading app.
- OKX also provides users with access to various market analysis tools, allowing them to make informed decisions when investing in digital assets.
- The platform also employs a multi-signature process to ensure that all transactions are secure.
- OKX has a dedicated customer support team that is available to help users with any issues or queries they may have.
- OKX exchange is fully compliant with the regulations set by the relevant authorities.
Does OKX fit beginners?
The platform’s accessibility allows inexperienced and seasoned investors to participate in bitcoin trading. Over 140 distinct digital tokens and over 400 different BTC/USDT pair combinations trade on this platform.
Platform & Features
OKX is helpful for those just getting their feet wet in the cryptocurrency world and looking to buy their first Bitcoin, Ethereum, or any other cryptocurrencies supported. OKX’s conversion form is a simple way to trade currencies, including stablecoins. The functionality is identical to a standard market transaction on the live trading platform, but the form and interface have been streamlined for your convenience.
Active Trading Platform
The OKX exchange’s active trading platform appeals to more experienced traders since it allows for market, limit, and stop orders, complex conditional trades, an open order book for supported currencies, and customizable market charts. After logging in, users can modify the templates to suit their needs better. OKX’s active trading platform lets traders select from multiple pre-existing layouts or create their own.
Margin trading or any other advanced technique may benefit from using the advanced platform. In addition, it comes equipped with a trading bot that may execute orders under a user’s specifications.
Fiat to Cryptocurrency
It provides financial options, including generating passive income from cryptocurrency holdings. Loan, jumpstart token staking function, mining pool, OKX bridge feature, OKB utility token, OKX Cloud, and OKX Blockdream Ventures are just some of the possibilities that are accessible. Still, the selection is extensive and among the most comprehensive in the business.
Extra Layers of Protection
OKX backs up its claims that it places a high focus on security by providing choices like required two-factor authentication, mobile verification, Google Authenticator integration, and anti-phishing code.
Option for trading on a decentralized exchange (DEX) OKX’s decentralized platform provides traditional DEX trading in addition to swap trading, liquidity pools, farm pools, and a decentralized wallet. These facilities are geared toward those who prefer to trade on a decentralized platform. In general, OKX will allow you to delve deeply into the cryptocurrency ecosystem by providing you with alternatives that you may test. The marketplace functions as a “one-stop shop” – thanks to this platform.
Fees and Commissions
OKX classifies currencies into pricing tiers, where fees increase or decrease based on trading volume and account balances. Spot transactions carry a maximum fee of 0.10%. Potential price breaks exist for high-volume OKB traders and large holders. Each type of derivative has its fee and interest rate structure, such as futures, swaps, and options.
One major flaw of OKX is that it does not disclose its deposit and withdrawal fees. You should go elsewhere for an exchange that offers transparent fee schedules, even if the rest of OKX is straightforward and honest.
Some of the available details are as follows:
|Tier||Maker Fee||Taker Fee|
|For VIP Users|
|Tier||Maker fee||Taker fee|
What Can You Trade On OKX Exchange?
Given that OKX supports over 300 distinct digital currencies, it would be impossible to include them all in this evaluation. There are 343 different currencies listed on the market. A quick look at some of the most actively traded currencies on OKX is as follows:
- Shiba Inu
Can I buy OKX with Everdome, DOME?
Yes, you can buy OKX with Everdome (DOME) token on the OKX exchange. To do this, simply login to your OKX account, go to the trading page and search for the OKX/DOME pair. Once you find the pair, you can place a buy order to purchase OKX with your DOME tokens. You can also use the OKX Crypto Calculator to estimate the real-time price of the pair.
The logo of OKX Exchange features a black square with the letter “X” in the center, resembling a checkerboard. These represent the four main features of OKX: security, speed, liquidity, and convenience.
The letter “X” is representing knowledge and understanding of the digital asset market while symbolizing excellence in trading services. Together these elements create a simple yet powerful logo that conveys OKX Exchange’s commitment to providing customers with an excellent trading experience.
OKX and McLaren
OKX exchange has announced a strategic partnership with McLaren, a luxury sports car manufacturer. As part of the partnership, OKX and McLaren will work together to create a unique and engaging experience for users. OKX will offer exclusive access to McLaren events and experiences, as well as the opportunity to purchase unique McLaren merchandise with crypto.
McLaren and OKX also plan to collaborate on a number of initiatives designed to promote education and awareness of blockchain technology and digital assets. This includes educational events and content, as well as opportunities for OKX users to participate in blockchain-related research and development projects.
The partnership between OKX and McLaren is a significant step forward for the crypto space and demonstrates the growing mainstream acceptance of digital assets. It also highlights the potential for collaborations between traditional industries and the crypto world to create mutually beneficial opportunities.
What is OKX API
OKX API is a set of programming instructions that allows developers to access and use the features and functionality of OKX Exchange in their own applications or software. In short, OKX offers an API for developers to build their own applications on the platform. The API allows for programmatic access to the exchange’s trading engine, account management, and other features.
Using the OKX API, developers can create custom trading bots, automate trading strategies, and integrate the exchange into their own platforms or applications. The API supports both REST and WebSocket protocols, which provide a high-performance and low-latency connection to the exchange’s trading engine.
The API also includes a variety of tools and resources, such as sample code, documentation, and libraries, to help developers get started quickly and easily. By leveraging OKX’s API, developers can quickly build and deploy trading applications that are secure and reliable. The API also supports multiple programming languages, making it easier for developers to create custom solutions for their users.
History of OKX
OKX launched in 2017 and is headquartered in Seychelles. The corporation also has outposts in virtually every country. OKX has risen to the position of the world’s 18th-largest cryptocurrency exchange. People from more than a hundred different nations are using the website. They don’t work in the US due to problems with compliance and legislation.
If you live in a region where OKX is available, you may open an account with the exchange and begin trading 343 different spot currencies. In addition to letting users borrow bitcoin on margin, OKX provides them with opportunities to earn bitcoin through staking and savings, obtain cryptocurrency-backed loans, and utilize novel services like mining pools and the OKX Chain network.
OKX Security and Regulation
Cryptocurrency exchanges have their security challenges, not usually seen when dealing with traditional banking institutions. However, the most reliable methods for keeping your financial accounts secure tend to be universal. Using a multifactor authentication software with strong, site- and app-specific passwords will help keep hackers out of your financial accounts. OKX uses cold storage, a common and reliable method for keeping its customers’ valuables safe. Furthermore, it allows the user to set up a withdrawal password and anti-phishing codes.
Does OKX require KYC?
No, KYC is not necessary to access the majority of OKX’s exchange services, including deposits, withdrawals, and even trading futures contracts.
The following account functions are permitted for KYC Level 0: spot trading, futures trading, deposits, and withdrawals (with a maximum of 10 BTC per 24-hour period). Users who still need to complete their KYC verification cannot trade P2P.
Is OKX regulated?
The Malta Financial Services Authority enforces the Virtual Financial Asset Act (VFAA). When it comes to security, it is among the best cryptocurrency exchanges available.
It has never been the target of a hacking attempt. Hence there are no negative comments about it online.
How to open your OKX account
Anyone outside the United States may quickly and easily open a new account. If you have ever registered with another cryptocurrency exchange or stock market firm, you will find the process of signing up for an OKX account quite similar.
Creating an account using your personal contact information is the first step in getting started. It would be best if you satisfied the KYC (know your client) standards of OKX to have access to all the trading capabilities it provides. Creating a Level One KYC-verified account requires inputting essential information, such as a government-issued identification number.
The second level necessitates uploading a photo of the user’s identification together with a selfie via the partner service Netverify.
To go to Level Three, you must accept a disclaimer. Unverified accounts have a daily withdrawal restriction of up to 10 Bitcoin and a transaction limit of up to $500 while increasing verification degrees allow for more significant withdrawal and transaction limitations.
Deposit and Withdrawal Methods
If you go to the tab labeled assets, you will see a ” deposit ” section allowing you to transfer funds from your wallet to the exchange. You will have the option to pick the currency of the deposit you want to make.
The withdrawal procedure may be the most significant disadvantage of utilizing OKX, although OKX offers many exquisite features. You can only withdraw crypto, even though the costs are minimal. You cannot convert your cryptocurrency holdings into fiat currency to withdraw your funds. This tie-up demonstrates that the platform’s primary emphasis is on functioning as a cryptocurrency-to-cryptocurrency exchange for “next-gen finance.”
OKX Customer Support
OKX provides a help website and chat support if you need more assistance. Self-service options will be available. The OKX website also includes a contact number that users may use to reach the company. Plan to manage most of your OKX account requirements, including trading and account modifications. A comprehensive help center with information on using, updating, and managing your account contains most of the necessary information.
Among cryptocurrency exchanges, OKX is the gold standard. It’s a quick and easy buy for cryptocurrency enthusiasts of any experience level; store and trade hundreds of the most popular cryptocurrencies at some of the lowest trading prices in the business. However, proceed with caution due to inconsistencies, unclear data, and complaints from consumers who have used the product.
Maintain the highest possible account and asset security by always employing the most recent security features offered by OKX. If you’re accustomed to utilizing online financial products and take the necessary precautions to protect your personal information, you’ll enjoy using OKX.
Review and basic information of OKX are as follows.
|Crypto Exchange Basics||OKX|
|Exchange Representative (Founder)||Jay Hao|
|OKX Launch Date||2017-01|
|Number of Tradable Crypto Pairs||707 Pairs|
|Weekly Visits||5,376,835 Users|
|Overall Rating||⭐ 4.4 / 5.0|
OKX Fee 2023
The fees charged to you for transactions at OKX are as follows.
|Maker/Taker Fees||OKX Transaction Fees|
|Spot Maker Fee||0.08%|
|Spot Taker Fee||0.1%|
|Derivatives Maker Fee||0.02%|
|Derivatives Taker Fee||0.05%|
OKX Trading Volume
Trading Volumes of OKX are as follows. (Based on CoinMarketCap 2023-09-25 14:41:11 data)
|Trading Volume Items||OKX Trading Volume|
|Daily Trading Volume (24h)||10,134,683,073,647 KRW|
|Weekly Trading Volume (7d)||84,310,197,760,914 KRW|
|Monthly Trading Volume (30d)||547,272,861,898,897 KRW|
|Daily Volume Change (24h)||144.36%|
|Weekly Volume Change (7d)||7.66%|
|Monthly Volume Change (30d)||-2.23%|
Communicate with OKX
You can check exchange's messenger and SNS information in the table below.
Who founded OKX exchange?
OKX was founded in 2017 by Jay Hao.
Where is OKX located?
Currently, OKX's headquarters is known to be located in the Seychelles.
How many cryptocurrencies are tradable on OKX?
If you join OKX, you can trade a total of 707 crypto pairs.
How much is OKX trading fee?
OKX has a spot maker fee of 0.08% and a taker fee of 0.1%. On the other hand, the maker fee for futures trading is 0.02% and the taker fee is 0.05%. Please note that these fees are for regular users, and the higher your membership level within OKX, the lower the fees.
How much is OKX trading volume 24h?
OKX's trading volume 24h is 10,134,683,073,647 KRW. Furthermore, the daily trading volume is showing a 144.36% change from the previous day.
How much is OKX weekly trading volume?
OKX's weekly trading volume is 84,310,197,760,914 KRW, with a total of 5,376,835 users. Furthermore, OKX's weekly trading volume is showing a change of 7.66% from the previous week.
How much is OKX monthly trading volume?
The monthly trading volume of OKX is 547,272,861,898,897 KRW. Furthermore, this month's trading volume is showing a change of -2.23% compared to the previous month.