If you know what you’re doing, you can move on to the full spot trading interface. While it looks intimidating, it’s actually not hard to understand as long as you know a little about the basics of trades. The absolute simplest way to trade crypto on OKX is by converting one currency into another for no charge.
Final Thoughts: OKX Review
- While trading can be challenging, OKX simplifies the process with in-depth charting, forecasting, and automated tools.
- After creating your account, you will need to fill in additional information to verify that it’s you.
- The app has a clean, user-friendly design with easy-to-find menus and icons, so you can navigate it without any hassle.
- With the rebranding and platform overhaul, we felt it appropriate to do an updated OKX review as this exchange has got some exciting developments underway.
- It relies on the fundamental belief that historical price and volume data can offer valuable insights into the future trajectory of an asset’s price.
These indicators offer valuable insights into market trends, momentum, volatility, and potential turning points. Traders navigating the ever-evolving world of blockchain-based digital assets are immersed in a highly dynamic environment. Once you’ve purchased some crypto on OKX, you can use the platform to earn a yield on your digital assets through either its lending services or staking-as-a-service feature. Similar to many other exchanges, OKEx has created its own token called OKB.
Trading Pairs, 340+ Cryptocurrencies
For beginners, a library of help guides and articles demystifies crypto concepts and platform functionalities. The OKX blog features insightful market analysis, industry news, and educational content to guide informed trading decisions. OKX offers an extensive array of cryptocurrencies for trading, encompassing over 300 tokens and 500 trading pairs, including popular options such as Bitcoin and Ethereum.
Is KYC mandatory to use OKX (Previously OKEx)?
The SAFU fund acts as insurance and is an account funded by Binance from taking 10% of all trading fees generated and setting them aside for security breaches. Binance has 10 tiers of accounts that are determined by VIP level. A user can upgrade the VIP level by two methods, either by achieving a set trade okex review volume in the margin or spot account or by buying and holding a certain number of BNB tokens. Binance Earn offers users products such as staking, opening a savings account, liquidity farming, BNB vault, etc. Various Earn products provide users with the option to invest in a fixed or flexible time frame.
- Hedge With Crypto is an independent publisher that provides objective and free content.
- When it comes to cryptocurrency deposits, OKX will not charge additional fees.
- The fees for market takers charged by OKX can be reduced to 0.06% and 0.09%, respectively, if the traders hold over 2,000 OKB tokens within the OKX wallet.
- In addition to Earn products, OKX users can utilize their crypto holdings to magnify their exposure in the digital currency markets via crypto-collateralized loans.
- Once you have set up your withdrawal password, you can go ahead and place your withdrawal amount and your offline address.
- Users can switch quickly between the exchange and their decentralized wallet, connect third-party wallets from the nav bar, and view gas fees for mainstream blockchain networks with a single click.
OKX Review: Quick Trade
Cryptocurrency on OKX can be purchased using fiat currency deposited from an external wallet or bought through P2P trading. Crypto can be purchased in over 90 fiat currencies, including GBP, EUR and USD. In addition, it can be bought through a third-party payment service such as Mercuryo, Banxa or MoonPay (the type of crypto being bought will dictate which payment options are available).
OKX Review 2024: Pros, Cons and How it Compares
Despite these attractive features, the OKX crypto exchange is not without controversy, with some of its practices raising eyebrows even in the wild-west world of crypto. Most seriously, investors have accused it of misrepresenting its trading volumes. Like KuCoin (see our KuCoin review for details), it’s not licensed to trade in the U.S. and is also unavailable in Canada.
Helpful Customer Support
Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. All centralised exchanges, including OKX, are vulnerable to counterparty risks like hacking, theft and insolvency.
