OKX uses industry-standard security practices, including cold storage for most customer assets. Those include: On top of that, OKEx offers a crypto mining pool, Crypto-to-Crypto loans, and staking. The trading fee structure at OKEx is based on whether an investor is a market maker or a market taker. However, along with other prominent Chinese-owned cryptocurrency exchanges, doubt has recently been raised as to whether real turnover figures are as high as reported amid claims of exaggeration and manipulation. Customers reviews are mixed about their customer service. The advanced platform is useful when margin trading or any other advanced strategy. Leveraged margin trading is also available for futures contracts. OKEx currently mines via the proof-of-work (PoW) consensus mechanism, and supports several algorithms, these being SHA256, Ethash, Scrypt, X11, Blake256, RandomX, Tensority, Anx Equihash. 3 : Saving Wallet: It allows you to save their funds and earn interest on it. Jumpstart represents OKExs token sale platform, which innovative crypto and blockchain-based startups can leverage in order to easily sell their tokens to the public. Crimea, Syria, Ecuador, Bolivia, The USA and its . All burns are conducted transparently, and announced whenever they occur. There are four methods for depositing funds into the Okex trading account. While a bitcoin exchange gives users a platform where they can independently place orders in the cryptocurrency market, a Bitcoin trading robot is an automated software that enters and exit trades based on predefined parameters. Users can expect to trade in OKT, USDT, ETHK, OKB, LTCK, and BTCK, directly on the native OKExChain. According to CoinMarketCap, OKX is the 18th largest cryptocurrency exchange in the world by volume. OKX is a cryptocurrency company offering a crypto exchange and a suite of additional services. Both give users access to the same account details, though some may find the larger screen on a desktop computer or laptop easier to navigate. On this platform, you can deposit funds with crypto coins you own or with fiat currency payment methods. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Guest Post by Kryptoskatt: Kryptoskatt Vs Zenledger - CoinMarketCap OKX publishes its trading fees clearly while Coinbase hides prices until you enter a trade. The digital assets trading platform offers investors and traders to trade with BTC, While the exchange supports the trade of 146 cryptocurrencies on the platform. OKEx has recently finalised the OKT initial minting and distribution token event, but it has sold many other tokens, including MXT, FLM, RIO, ZYRO, and more. [2] OKX is owned by OK Group, which also owns crypto exchange Okcoin. Supported Countries OKEx is available in more than 100 countries. Best Cryptocurrency Exchanges - Traders of Crypto Cryptocurrency exchanges have some unique security concerns you dont typically face with traditional banking platforms. OKEx exchange allows traders to buy and sell cryptocurrencies by using margin, giving them the chance to access leverage as high as 10x for spot, and 100x margin for futures. OKEx provides hundreds of token & futures trading pairs to help traders to optimize their strategy. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. For more experienced traders there arent many cryptocurrency exchanges that offer the kind of professional trading platform with the functionalities and trading formats usual for big, financial exchanges in traditional markets that OKex does. The trading platform provides more facilities to professional users as compared to the other exchanges. As previously mentioned, OKEx allows users to deposit funds through a wide range of crypto coins but keep in mind that you will be able to transfer a specific type of token to the wallet deposit address you receive on the selected token only. Enjoy hundreds of tokens and trading pairs. Widely present: OKEx is available in 200+ countries, with more than 20 million users. Well cover everything you need to know including the exchange fees, features, range of assets, the safety of funds, and more. Roughly 30 digital currencies can be purchased directly via USD, EUR, GBP, KRW, JPY, RUB, TRY, USH, and more. The token security is based on the core private key encryption algorithm, and the cold and hot wallet technology developed by OKExs team, is based on the most advanced privacy encryption technology in the industry. OKX (formerly known as OKEx) Supported Countries: Global (including Australia) Fiat Currencies Supported: 50+ including AUD and USD: Deposit Methods: Credit/debit cards, Apple Pay, crypto transfer: Supported Cryptocurrencies: 355: Interest-earning Wallets: Yes (up to 365% APY) Deposit Fees: The 24/7 service is available for the customers. Trading fees are low and competitive. They are also one of the top digital asset exchanges by trading volume, serving millions of users in over 100. countries. OKEx exchange allows traders to buy and sell cryptocurrencies by using margin, giving them the chance to access leverage as high as 10x for spot, and 100x margin for futures. Once your OKEx account has been verified, navigate to the Assets button and click on the Deposit. Luckily, the account creation process is not complex and you will be able to either register through the website or OKEx iOS/Android mobile app. He's written about every type of automated trading tools - from cryptocurrency robots, binary option robots, down to robo advisors. OKex also offers futures trading for Bitcoin, Ethereum and EOS with weekly, bi-weekly and monthly contracts available. When engaging in margin trading, users increase their exposure to cryptocurrency volatility without having to purchase too much crypto out of their own pockets. This Section / Page contains links to the 3rd party websites of our top partners from whom we may receive compensation. If theres a coin youre looking for, theres a good chance youll find it at OKX. Jay is well-known for his prior involvement in building blockchain-based applications for mobile gaming and video streaming [Wikipedia]. OKEX Review - Accepted Countries, Payment Methods, Coins & User Reviews View the latest crypto prices, volume, and data, Trade a full range of contracts and margin products, Multiple strategies to help you trade with ease, Instantly trade spot OTC, futures spreads, and options strategies at the price you want, Discover new, high-quality projects around the world, The world's most powerful suite of crypto trading solutions, OTC liquidity network for pro and institutional traders, Seamless and ultra-low latency API connectivity, Improve capital efficiency and lower risk, Access world-class market depth with high commissions, Candlesticks, aggregate trades, order book data and more. With an account at OKX, you can easily buy crypto using a card, bank account, or mobile wallet. Read Terms and Conditions for more info. Coins are also spread out across multiple private keys, which are encrypted and help in bank vaults. OKEx allows loans for a period ranging between 3 to 180 days, which are often priced at a 3.65% 15.33% effective interest rate. Like many large cryptocurrency exchanges, OKX offers a simple trading form that works well for beginners alongside an active trading platform for intermediate to expert traders. However, OKExs cross-chain gateway product makes it possible for users to convert assets at a 1:1 ratio, even if one coin is not supported on a specific blockchain at all. OKX is a crypto exchange that also offers a variety of other services, making it a complete digital currency ecosystem available in over 100 countries. The highest trading fees payable for low volume accounts are a 0.15% maker fee and 0.2% taker fee. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Youll also have opportunities to earn cryptocurrency and withdraw or send it to an outside wallet. OKX trade volume and market listings | CoinMarketCap Tokens are burnt every three months by having them sent to a non-access burning address. OKEx presents itself as a global digital assets exchange that gives traders advanced financial services using blockchain technology. We decided to test it to find out whether you can manage your account from the mobile app and what are the supported features. Low trading fees are another big plus that will appeal particularly to more experienced traders. By employing multiple authorization mechanisms and using emergency plans for private key backups, funds remain inherently safe. OKEx exchange | OKEx Review | OKEx Fee | OKEx trading- Coinpedia Prominent crypto exchange OKEx says that . The app is available for both Android and iOS powered devices. OKEx exchange offers free deposits and low withdrawal fees. . Dollars or other fiat currencies. The OKB utility token is one of OKExs native tokens, providing holders with significant benefits when using the platform. Buy Bitcoin & other cryptocurrencies | cryptocurrency exchange For instance, BTC can be transferred to the ETH blockchain in the form of BTCK, a token thats 1:1 pegged to the price of BTC. Low trading and financing fees OKX Exchange Review - Is It Legit? (2022 Updated) - 99 Bitcoins A cryptocurrency and trading writer and investor, Patrick specialises in algorithmic trading. Clickout Media Ltd AA PH, Camilleri Buildings, Oratory Street, Naxxar, NXR 2504 Malta, Company No. According to OKEx, their daily trade volumes are more than $1.5 billion, and the platform has millions of loyal users in over 100 countries. They dont take users from the United States due to regulatory and compliance concerns. These include white papers, government data, original reporting, and interviews with industry experts. With support for 36 cryptos, multiple direct integrations with the trading app, and a vault service, the OKEx wallet has attracted tons of users. OKX ( Chinese: ), formerly known as OKEx, is a Seychelles -based cryptocurrency exchange and derivatives exchange. Learn more. Keychain Cryptocurrencys Wallet And Password Stolen, Atomic Malware Fingered, US Slams North Korean Banker With Double Indictment Over Crypto Laundering. If youre in an area that works with OKX, you can create an account that gives you access to trade 343 spot currencies. When investing your capital is at risk. The FSA of Japan has officially recognized Bitcoin and digital currency as a legal currency, and has ruled that all digital currency exchanges must register with them. Initially known as OKEx exchange, it got support and investment advice from leading venture capitalists and investment companies like Ceyuan Ventures, VenturesLab, Longling Capital, eLong Inc, and Qianhe Capital Management, which helped the digital assets exchange to reach the pinnacle where it is now. Before you settle for one platform, make sure to look at the list of countries and locations they support to avoid any issues with future transactions. On the OKEx academy, youll find lots of tutorials on a wide variety of topics suited for beginners and experienced investors. Accessibility is a major problem with Zenledger despite being a major player. What Coins Are Supported on OKX? Once logged in, you can view account balance and access features for spot, futures, options, and other trading needs. Daniel is a digital currency expert, freelance writer, and jurist. OKEx is one of the leading digital assets exchanges in the world and the Seychelles-based cryptocurrency exchange was founded in 2017. The OKEx cross-chain gateway currently supports the Ethereum blockchain, yet both the OKExChain and the Tron chain will be added within the short-term future. The OKExChain is marketed as a high-performance network that facilitates decentralized governance and community-driven consensus. The wallet is available on OKEx desktop/web platform and on the OKEx mobile app. OKX (previously OKEx) is a world-leading cryptocurrency exchange, providing advanced financial services to traders globally by using blockchain technology. OKEx takes security very seriously, but fund security also depends on how careful users are. Gate.io Review - Accepted Countries, Payment Methods, Coins & User Reviews Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Advanced traders will likely prefer the active trading platform with support for market, limit, and stop orders; advanced conditional trades; the open order book for supported currencies on the OKX exchange; and flexible market charts. The daily volume of BTC futures trade on the Okex exchange is $1.5B. OKExs trading interface comes along with all tools needed to make smart and profitable futures trades. In addition, OKEx has a great FAQ section a join the community section where you can find answers and communicate with other members on the platform. Users mostly face scams issues on many platforms. Read full terms and conditions / disclaimer. The OKEx wallet makes it easy for cryptocurrency owners to store, send, receive, and manage their digital assets. What is OKEx Exchange? Generally, it would appear that the exchange is quite inflexible in its systems and approach but users who understand this and act accordingly report few problems. However, OKX doesnt publish its deposit and withdrawal pricing, so both obscure costs to some extent. If you open an OKEx account, complete KYC verification, and trade $100 on your first order, you get up to a sign-up bonus. But due to the size of securities needed to facilitate the volume required to become a market maker, the majority of crypto investors are market takers. The instrument page is very basic and inserting an order is extremely easy. Ultimately, OKEx sets itself apart from competitors in the industry by offering different methods of crypto trading. Other investors include notable Chinese VCs including Ceyuan Ventures, Longling Capital, and the Giant Network Group. Supported fiat: 90+ Withdraw options: ERC-20, TRC-20, BEP-2, and BEP-20. The most notable one is the United States of America, which has limited the activity of foreign crypto exchange platforms, which are now subject to regulatory approval. This is good for people new to cryptocurrency looking to buy their first Bitcoin, Ethereum, or any other supported currency. You likely wont recover any funds if you accidentally send funds to the wrong wallet address. OKX (Previously OKEx) Review: Important Read - CoinCodeCap The hot wallet offers security of private key storage through semi-offline storage and signature services. Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors. OKEx Review 2022 - Cryptocurrency Exchange Review, Beginners Guide Some countries have established regulatory a framework for Bitcoin, with some of these insisting that Bitcoin-involved economic activities should be subject to traditional taxes. It is a digital trading platform which provides spot trading of digital currencies and fiat currencies to customers worldwide. To unlock full trading capabilities, users are required to complete the know-your-customer (KYC) procedure. A huge selection of digital assets coins Users can trade 300+ crypto coins and tokens on OKEx, with over 30+ fiat currencies supported. While OKEx is a centralised exchange by definition, it has also launched decentralized trading through swaps. And it involves accounts of C2C, spot and margin trades. Internet Computer Protocol Announces 23% Price Increase, Heats Up Debates, Senator Elizabeth Warren Wants to Impose a De Facto Ban on Crypto, Says Jake Chervinsky, Hackers Hijack Popular YouTube Channel to Promote Crypto Scam, Twitter CEO Elon Musk Introduces Monetization Features for Content Creators, FDIC Official Attributes Collapse of Signature Bank to Poor Management, Unlocking the Secrets of Bitcoins Taproot: Everything You Need to Know, Live Coin Watch: The Must-Have App for Cryptocurrency Investors, Price Analysis 29th April BTC, ADA, ETH, DOGE, XRP, BNB, and MATIC, Polkadot (DOT) Staking: What It Is And How To Do It, Ceramic Protocol: Unlocking the Future of Decentralized Data Storage for Beginners, https://www.okex.com/pages/products/fees.html. The state of New York has introduced BitLicense for the exclusive regulation of Bitcoin. Annual percentage yields as high as 12.84% can be seamlessly obtained by taking part in the earn initiative. OKEx mining pools: Join safe, . Tokens can be seamlessly listed and integrated on the chain without seeking approval in a centralised fashion. It also has offers additional features like the ability to set up a withdrawal password and anti-phishing codes. With OKEx Cloud, users can access OKExs market depth, cutting-edge core technology, flexible token listing, cross-platform development, spot trading, P2P trading, and 24/6 global customer support. In October 2017, a number of OKex account holders complained that their accounts had been hacked and cryptocurrency holdings were stolen. The crypto exchange has been providing advanced financial services to traders globally using their blockchain technology and currently caters to over a million users in 100 countries. OKX Review 2023: A great crypto exchange for the avid trader - CryptoNewsZ OKEx exchange is a cryptocurrency exchange based in Seychelles. Win up to $10,000 when you complete a deposit of more than $50 through a crypto purchase or top-up within 30 days of registration. You should note, however, that transfers with fiat currencies is available on the One-stop Marketplace feature and enables users to buy only 6 mainstream coins Bitcoin (BTC), Ethereum (ETH), USDT, Ripple (XRP), Litecoin (LTC), and OKB. Lastly, OKB ownership allows users to join the OKExChain ecosystem, an open-source blockchain that allows users to obtain a larger number of tokens as soon as the mainnet is launched. 2 : Trading Wallet: This wallet is for different trades. After creating the account, you will have to complete KYC level 1 verification and then link your mobile number so the system can verify your identity. OKExs loan product allows traders to quickly obtain crypto-backed loans from the platforms other users. OKEx exchange gives you the possibility of creating sub-accounts used for crypto trading. OKEx Review 2023 - Crypto Exchange Reviews - Crypto Head Maddy Simpson is an experienced data journalist and fact-checker with a background in financial analytics. Angola Wire. Of course, any losses that incur on the higher exposure will have to be paid out by traders. Participating in public sales comes along with a larger profitability potential, as public sale buyers are often able to purchase tokens at significantly lower prices, as opposed to those which are bought from the token market. The exchange itself lists GSLB, distributed server clusters and cold storage multi-signature wallets among the security measures in place. Bank withdrawal Supported: Yes: Withdraw fees: Depends on cryptocurrencies: . On the other hand, a regular user holding over 2,000 OKB will only pay a 0.06% maker fee and a 0.08% taker fee. The company was originally located in Hong Kong, China, and has, since then, expanded its offices in Belize and more recently in Malta, an island known for being a hub for blockchain-based and cryptocurrency projects. The site claims over 20 million users in more than 100 countries. Once your account has been verified and you have completed the deposit process, the funds will be automatically added to your trading account. 4. Your email address will not be published. Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Then, select one of the OKEx-supported fiat currencies and set the amount of which you wish to buy a specified crypto coin. If you agree to our use of cookies, please continue to use our website. Customers will have to use their passport to record a verification video according to preset instructions. The platform enables retail and institutional investors to purchase digital assets using local currencies, with a mission to make crypto easy for everyone, including first-time buyers. Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions. For those unaware, USDT is a digital token that was designed to have a 1:1 exchange rate with the Us dollar. Overall, the exchanges withdrawal fee is slightly lower than at other exchanges. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product.
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