OKX Overview 2024: Charges, Safety, Execs & Cons

In line with CMC data, OKX ranks fourth among the many high crypto exchanges when it comes to buying and selling quantity and liquidity. Subsequently, if you’re searching for a crypto buying and selling platform that provides spot and futures buying and selling with good liquidity, it is perhaps your selection. Our OKX overview will cowl its professionals and cons, safety measures, charges, customer support, and whether or not it fits your buying and selling wants.

Key Takeaways:

1. OKX is a crypto alternate the place you should purchase and promote several types of digital property (like Bitcoin and Ethereum) utilizing fiat currencies like EUR and USD together with your checking account, bank card, or debit card.
2. The platform gives all buying and selling options similar to spot and derivatives markets, staking companies, a duplicate buying and selling portal, and DeFi crypto pockets instruments like swaps and an NFT marketplace.
3. OKX prices a small charge while you purchase or promote crypto, beginning at 0.08% for makers and 0.1% for takers within the spot market, 0.02% for makers and 0.05% for takers in futures, with zero deposit and withdrawal charges.

OKX Overview: Fast Abstract

Varieties	Crypto buying and selling platform
Headquarters	Globally (places of work in UAE, Hong Kong, Singapore, Silicon Valley, and the Bahamas)
Yr Based	2017
Founder	Star Xu
Supported Nations	100+ (excluding Canada and the US)
Variety of Supported Cryptocurrencies	327 crypto tokens and 533 buying and selling pairs
Varieties of Buying and selling	Spot Buying and selling, Margin Buying and selling, Futures, Choices, Copy Buying and selling, P2P Buying and selling, and so forth.
Fiat Currencies Supported	USD, EUR, GBP, and so forth.
Deposit Strategies	Financial institution switch, credit score/debit card, third-party cost suppliers like MoonPay and Mercuryo, and so forth.
Buying and selling Charges	Spot: 0.08% maker and 0.1% taker Futures: 0.02% maker and 0.05% taker Choices: 0.02% maker and 0.03% taker
Staking Choices	Mounted/versatile staking, on-chain DeFi staking, structured merchandise like twin funding and snowball
NFT Market	Sure (10+ blockchains)
Safety Measures	2FA, chilly storage, insurance coverage funds, PoR knowledge, anti-phishing code, tackle whitelisting, and extra
Buyer Help Channels	Dwell chat, e-mail, assist ticket system
Cell App	Android and iOS

What’s OKX (Previously OKEx)?

OKX, beforehand OKEx alternate, is a worldwide crypto buying and selling platform recognized for its high-trading quantity and deep liquidity. Star Xu based it again in 2017. Initially often known as OKEx, the corporate rebranded to OKX in 2022. They preserve a worldwide presence in over 100 nations with places of work in main hubs like UAE, Hong Kong, Singapore, Silicon Valley, and the Bahamas. OKX alternate companies are supplied by its Seychelles-incorporated and Bahamas-registered entities. OKX gives Web3 companies in america, with an workplace in Silicon Valley, however doesn’t supply centralized alternate companies within the US.

The alternate has a powerful number of over 327 supported digital property and 533 buying and selling pairs, with fashionable choices like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Tether (USDT), and lots of extra. You possibly can simply purchase and promote these property with over 100+ fiat currencies and 900+ native cost strategies supported worldwide.

For knowledgeable merchants, you’ll be able to make use of superior methods utilizing OKX’s derivatives choices. These embody conventional futures, perpetual contracts, and choices contracts. It additionally supplies methods to earn passive income on your crypto holdings. This contains staking, financial savings merchandise, and different yield-generating alternatives like crypto loans.

About OKX’s Web3 portal, it has an built-in OKX pockets, a non-custodial multi-chain pockets that helps 70+ blockchain networks. It additionally connects to over 400 decentralized functions (DApps) and NFT marketplaces to discover the Web3 ecosystem.

Execs of OKX

• 327+ cryptocurrencies and over 533 buying and selling pairs obtainable
• The unified account mannequin permits you to commerce throughout spot, margin, and spinoff markets with out having to switch funds between completely different wallets
• Demo buying and selling environments, letting you follow methods with digital funds
• Aggressive buying and selling charges for spot and derivatives market
• As much as 100x leverage for futures buying and selling and 10x for margin buying and selling
• “Be taught” part for brand new customers, that includes crypto buying and selling tutorials and market evaluation

Cons of OKX

• Not obtainable for the crypto merchants in Canada and america
• Superior buying and selling instruments and the DeFi ecosystem may be daunting for rookies

OKX Buying and selling Overview: Key Options

Spot Buying and selling

Spot buying and selling is probably the most easy manner to purchase and promote cryptocurrencies. OKX helps over 327 cryptocurrencies paired in opposition to fashionable currencies like USDT (a stablecoin pegged to the US Greenback), USDC, and even different cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). It additionally gives charting instruments, technical indicators, and numerous order varieties to additional merely your cryptocurrency buying and selling course of.

Listed below are a few of the fashionable spot market order varieties on the OKX cryptocurrency alternate:

• Restrict: A restrict order lets you purchase or promote a cryptocurrency at a precise value you set. The order will likely be executed solely when the market value reaches your goal value. This offers you better management over your entry or exit factors.
• TP/SL (Take Revenue / Cease Loss): It helps handle your threat. You set a take-profit value (the place you’d wish to lock in positive factors) and a stop-loss value (to restrict losses). As soon as both value goal is hit, a corresponding market or restrict order routinely triggers.
• Trailing Cease: It is a dynamic sort of stop-loss order. As a substitute of a hard and fast value, you set a trailing quantity (in share or foreign money). As the worth of your asset will increase, your trailing stop-loss follows alongside.
• Set off: This order waits for a sure value or situation you set earlier than putting a purchase or promote order (which may very well be a restrict or market order).
• Iceberg: An iceberg order breaks a big order into many smaller ones, displaying solely a portion of your full order within the order e-book. This helps decrease value slippage when buying and selling massive quantities.
• TWAP (Time-Weighted Common Worth): It splits a big order into smaller chunks executed over a specified time. This goals to realize a value nearer to the typical value over that interval.

Futures Buying and selling

OKX gives a sturdy futures buying and selling platform that includes 228+ cryptocurrencies. You’ll discover assist for as much as 100x leverage on fashionable property like BTC and ETH, whereas different cash like MATIC, ADA, XRP, DOT, and SOL have a most leverage of 50x.

The platform gives two predominant kinds of futures buying and selling. Conventional Futures and Perpetual Futures

• Conventional futures have a predetermined expiration date after which the contract should be settled. On this case, costs could deviate extra considerably from the underlying asset’s spot value because the expiration date approaches.
• Perpetual contracts do not need an expiry. This gives extra flexibility for merchants to carry their positions for an indefinite period of time.

OKX additionally supplies each cross and remoted margin modes. Cross mode makes use of your complete obtainable margin stability throughout all positions. Remoted mode limits the margin used for every particular place. It helps in decreasing threat by proscribing losses in a single commerce from affecting different open positions.

Much like the spot market, the OKX futures portal is supplied with an array of instruments and order varieties to swimsuit completely different buying and selling methods. These embody market orders, restrict orders, stop-limit orders, and superior order varieties like trailing stops.

OKX gives 4 several types of futures buying and selling modes: Margin free, Single-currency margin, Multi-currency margin, and Portfolio Margin.

• Margin Free: No upfront margin is required. Income from open positions act as your collateral.
• Single-Foreign money Margin: Makes use of just one particular cryptocurrency as a margin for all of your futures positions.
• Multi-Foreign money Margin: Permits utilizing a number of supported cryptocurrencies in your account as a margin.
• Portfolio Margin: Calculates threat throughout your complete portfolio, doubtlessly reducing margin necessities.

Margin Buying and selling

Margin buying and selling lets you borrow funds from OKX to extend your shopping for energy. The OKX margin buying and selling presently gives as much as 10x leverage on fashionable property like BTC, ETH, OKB, MATIC, SOL, and DOGE. Different property assist solely as much as 5x leverage.

To provoke a margin commerce, you first must have a few of your individual funds as collateral. This acts as safety for the mortgage you’ll be taking from the alternate.

There’s additionally an important idea known as “upkeep margin.” That is the minimal quantity of collateral you have to hold in your account to maintain your place open. If the market strikes in opposition to you and your collateral falls beneath the upkeep margin, your place will likely be liquidated. Meaning your property are offered to repay the mortgage.

Choices Buying and selling

Choices contracts are barely extra advanced than spot buying and selling. With choices, you’ve got the flexibleness to purchase (name possibility) or promote (put possibility) the underlying cryptocurrency at a set value (strike value) on or earlier than a specified date (expiry date).  Importantly, you’ve got the selection, however not the duty, to take action.

OKX choices are European-style, which means you’ll be able to solely train them at expiry, not earlier than. In contrast to some platforms with stablecoin-settled choices, OKX settles its choices contracts within the underlying cryptocurrency (e.g., BTC or ETH).

Copy Buying and selling

Copy buying and selling permits you to routinely mimic the trades carried out by one other dealer, known as a “grasp dealer.” On OKX, you select a grasp dealer based mostly on elements like their previous efficiency (PnL), buying and selling technique, and threat tolerance. After they open or shut positions within the spot market, your account does the identical trades. OKX copy buying and selling is on the market for each spot and futures markets.

OKX supplies a listing of grasp merchants with detailed efficiency histories, win charges, AUM, variety of followers, PnL%, and extra. As a substitute of copying grasp merchants precisely, you can even set your individual funding parameters. It gives versatile choices to set both a hard and fast quantity per commerce or a most complete funding quantity.

P2P Buying and selling

P2P, or peer-to-peer buying and selling, is a manner to purchase and promote cryptocurrencies instantly with different customers. Right here, OKX acts as a intermediary. To guard P2P customers, the platform makes use of a safe escrow system. Which means that while you provoke a commerce, the cryptocurrency concerned is quickly frozen by OKX till each the client and vendor have confirmed the profitable completion of the transaction. On OKX P2P, you don’t pay any charges to the platform to your trades.

The alternate presently helps 4 cryptocurrency property (USDT, USDC, BTC, and ETH) on its P2P market. OKX additionally helps greater than 100 fiat currencies and 900+ cost strategies, overlaying your native e-wallets, financial institution transfers, credit score/debit playing cards, and direct money transactions.

Buying and selling Bots

These OKX bots can create skilled buying and selling methods, all automated. You possibly can both use an current bot or create your individual buying and selling bots with completely different methods.

OKX gives 5 several types of buying and selling bots: grid bots (spot, futures, and infinity grid), sign buying and selling, arbitrage, DCA, and slicing bots.

1. Grid Bots (Spot, Futures, Infinity Grid): These bots work like a ladder of purchase and promote orders. They goal to make small earnings inside a value vary, shopping for when costs dip and promoting after they go up.
2. Sign Buying and selling Bots: They work based mostly on third-party indicators. You possibly can both combine TradingView or create your individual buying and selling indicators. There may be additionally a sign market on the platform.
3. Arbitrage Bots: They search for tiny value variations throughout completely different markets (like spot vs. futures) and attempt to make fast earnings from these gaps.
4. DCA (Greenback-Price Averaging) Bots: These bots are all about regular investing. They purchase a set quantity of your chosen cryptocurrency at common occasions. This helps clean out the influence of value swings. It additionally consists of “Recurring Buys”.
5. Slicing Bots: The slicing bots are finest for large trades or orders like Iceberg or TWAP (as mentioned above). They break down a big order into smaller items and execute them over time to assist get a greater total common shopping for value.

Liquid Market

The OKX Liquid Marketplace is designed particularly for institutional merchants and large-volume cryptocurrency merchants. It capabilities as an over-the-counter (OTC) platform. This implies trades are negotiated and settled instantly between the 2 events concerned. This strategy gives privateness, customization, and higher pricing in comparison with conventional open-order-book exchanges.

Request-for-quote (RFQ) is one other highly effective instrument throughout the OKX Liquid Market. It’s basically a strategy to supply one of the best costs to your desired commerce. An RFQ is your manner of claiming: “Hey, I’m concerned about shopping for or promoting this certain amount of a cryptocurrency, what’s your finest supply?”

The RFQ is distributed to a number of market makers (principally, skilled liquidity suppliers) who compete to supply probably the most aggressive value. This course of will help you discover considerably higher offers than you may get on a typical alternate.

OKX Earn Providers

Staking

OKX gives quite a lot of methods to earn passive earnings in your cryptocurrency holdings by way of staking. Easy Earn is the simplest strategy to begin. It gives two classes:

• Versatile (Financial savings): This selection lets you deposit your crypto and earn curiosity with most flexibility. You possibly can withdraw your funds anytime. Versatile choices sometimes supply decrease rates of interest in comparison with fixed-term staking.
• Mounted (Staking): Right here, you lock your crypto for a set interval for doubtlessly increased yields. Throughout this time, your property actively take part in securing the blockchain community, subsequently incomes a much bigger reward. Rates of interest on fastened staking rely upon the precise cryptocurrency and the chosen lock-up time. For a tough concept, you’ll be able to earn as much as 100% APY on sure cash and much more.

Now, you’ve got another choice with “OKX Structured Merchandise”. These merchandise typically mix staking with market predictions or methods.

• Twin Funding: You expect if the worth of a cryptocurrency will go up or down by a sure date. In case your prediction is right, you earn a excessive return. On this case, you deposit a single asset however receives a commission in a unique one.
• Seagull: It’s designed while you suppose the market will transfer a lot in a single path. With this product, you select between Bullish BTC or Bearish BTC. You possibly can doubtlessly enlarge earnings if the worth of the crypto strikes considerably as you anticipated.
• Snowball: This routinely reinvests your earnings again into the staking pool, basically compounding your returns.

On-chain incomes is one other strategy to earn passive cash on OKX. This selection permits for direct on-chain staking, the place you contribute to validating transactions on proof-of-stake blockchains. You possibly can discover choices like “ETH staking”.

Crypto Mortgage

The OKX Crypto Mortgage function is a strategy to borrow cryptocurrency with out having to promote your current holdings. You employ your cryptocurrency as collateral. This implies you set up a few of your crypto as a assure that you simply’ll pay again the mortgage. When you don’t, OKX can hold your collateral.

The alternate gives many property for loans similar to BTC, ETH, USDT, ALGO, APT, and so forth. You possibly can select loans with both versatile rates of interest, which change hourly based mostly on market circumstances, or fastened charges for predictable prices. Versatile loans don’t have fastened compensation durations, so you’ve got better management over while you pay it off.

OKX options a mean hourly APR of about 1% (topic to alter). This implies your rate of interest modifications hourly based mostly on the lending market. How OKX determines this charge will depend on elements like:

• Mortgage to Worth Ratio (LTV): How a lot you borrow in comparison with your collateral’s worth. Larger LTVs typically imply increased curiosity.
• Provide and Demand: What number of lenders and debtors are lively influences the rate of interest.

Jumpstart (Launchpad)

OKX Jumpstart acts like a launchpad for brand new blockchain tasks. Presently, OKX has launched 11 new tasks on its Launchpad and raised a complete of $2.54 billion.

It has alternative ways to take part. Typically you may “mine” tokens by staking current cryptocurrencies you already personal. In different circumstances, you may must pledge the OKB token (OKX alternate’s personal cryptocurrency) to have an opportunity of shopping for the brand new mission’s tokens.

OKX Decentralized Finance (DeFi) Ecosystem

OKX Pockets

With OKX Pockets, you’ll be able to simply work together with decentralized functions (DApps), commerce on decentralized exchanges (DEXs), discover NFT marketplaces, and rather more.

It’s designed to be user-friendly. You possibly can simply ship, obtain, and retailer a large vary of cryptocurrencies throughout a whopping 70+ blockchains. The pockets additionally features a built-in DEX for fast token swaps. The OKX DEX aggregator searches by way of greater than 400 DEXs and over 20 cross-chain bridges throughout greater than 20 networks to search out one of the best Bitcoin and crypto costs.

OKX Pockets is non-custodial, which means you, and solely you, maintain the keys to your property. The Pockets is on the market on completely different working methods. You should utilize it as a browser extension or make the most of the devoted cellular app for each Android and iOS gadgets. And, for clean transitions between platforms, you’ll be able to simply join your OKX Pockets to the OKX centralized alternate.

OKT Chain

OKX Chain, or OKTC, is an EVM-compatible layer-1 blockchain constructed on Cosmos (ATOM). The blockchain can be 100% open-source.

The OKT chain is able to dealing with 6,000 transactions per second, which could be very excessive in comparison with Ethereum 12-15 TPS. Utilizing OKTC typically prices little or no ($0.01) in comparison with some older blockchains like Ethereum. The OKX chain additionally has a local token (OKT).

NFT Market

OKX additionally gives an NFT market. It helps NFTs throughout a variety of classes – artwork, collectibles, music, recreation objects, and even digital land. The platform isn’t restricted to a single blockchain.

It helps NFTs on a number of chains like Ethereum, Polygon, Base, Solana, BNB chain, and extra. It’s because it gathers NFTs from all fashionable marketplaces like OpenSea, Blur, LooksRare, X2Y2, MagicEden, and lots of extra. This offers you extra flexibility as each a purchaser and vendor.

What Cryptocurrencies Can I Commerce on OKX?

Presently, OKX helps a powerful number of over 327 supported cryptocurrencies with a big variety of over 533 buying and selling pairs. You’ll discover cash centered on sectors like AI, the Metaverse, gaming, DeFi, good contracts, and extra.

Whereas the variety of cash is nice, it won’t be sufficient for individuals who need to put money into very new, low-cap cash. OKX normally focuses on itemizing older, extra well-established cash. If you’d like these tremendous new, riskier cash with the prospect for large earnings, exchanges like MEXC and Bybit typically add them a lot sooner than OKX.

Listed below are some fashionable cryptocurrencies you can find on OKX:

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT)
• Bitcoin Money (BCH)
• USD Coin (USDC)
• Aptos (APT)
• Cardano (ADA)
• Solana (SOL)
• Dogecoin (DOGE)
• Polkadot (DOT)
• Polygon (MATIC)

OKX Charges Overview

OKX Spot Buying and selling Charges

OKX makes use of a maker-taker charge mannequin for many spot and derivatives buying and selling. Which means that the charges you pay rely upon whether or not you’re including liquidity to the market (maker) or taking liquidity away (taker).

It has a tiered charge construction based mostly in your 30-day buying and selling quantity and OKB holdings. As your buying and selling quantity or OKB holdings enhance, you’ll take pleasure in low buying and selling charges.

Firstly, let’s see what OKX charges appear like with OKB holdings:

Tier	OKB Holdings	Maker Charges	Taker Charges
Lvl 1	< 100	0.08%	0.1%
Lvl 2	≥ 100	0.075%	0.09%
Lvl 3	≥ 200	0.07%	0.08%
Lvl 4	≥ 500	0.065%	0.07%
Lvl 5	≥ 1000	0.06%	0.06%

Now, for those who don’t maintain OKB tokens, you can even get a buying and selling charge rebate based mostly on buying and selling quantity. Right here is the overview:

Tier	30-Day Quantity	Maker Charges	Taker Charges	Withdrawal Restrict
VIP 0	–	0.08%	0.1%	$10,000,000
VIP 1	≥ 5,000,000	0.045%	0.05%	$12,000,000
VIP 2	≥ 10,000,000	0.04%	0.045%	$16,000,000
VIP 3	≥ 20,000,000	0.03%	0.04%	$20,000,000
VIP 4	≥ 100,000,000	0.02%	0.035%	$24,000,000

OKX Futures Buying and selling Charges

Buying and selling charges for futures contracts comply with an analogous tiered maker-taker mannequin. For normal customers, it begins with 0.02% maker and 0.05% taker. Equally, it retains reducing with excessive buying and selling quantity and OKB holdings. For choices buying and selling, OKX prices 0.02% maker and 0.03% taker.

For extra data, you’ll be able to try the full OKX fees overview.

OKX Deposit and Withdrawal Charges

OKX doesn’t cost any charges for cryptocurrency deposits. Nevertheless, do do not forget that you’ll nonetheless must pay community charges (also called gas fees) related to transferring cryptocurrencies on the blockchain.

Withdrawal charges on OKX differ relying on the cryptocurrency you’re withdrawing. These charges are additionally up to date commonly to replicate community circumstances.

For fiat currencies, for those who use third-party companies similar to Mercuryo or Moonpay to purchase crypto, count on to pay extra charges and spreads starting from 2% to over 10%. Credit score/Debit card transactions additionally cost variable charges based mostly in your nation.

OKX Cost Strategies

OKX helps quite a lot of cost strategies for getting crypto or making deposits. As mentioned above, it helps over 900 cost strategies on its P2P market. However, if you wish to deposit instantly on the platform, you’ve got considerably restricted choices.

• Credit score/Debit playing cards (Visa and Mastercard)
• SEPA
• Financial institution transfers
• iDEAL
• PIX
• Apple Pay and Google Pay (utilizing debit playing cards)
• Moonpay
• Mercuryo

Deposit and Withdrawal Limits

Deposit and withdrawal limits on OKX can differ based mostly in your charge stage. Customers with the next VIP stage will normally have increased limits. For fiat currencies, these limits can change based mostly on cost strategies.

Fiat Foreign money	Cost Technique	Minimal Deposit	Max. Deposit	Max. Withdrawal
EUR	SEPA	€1	€100,000 Day by day €1,000,000 per 30 days	€100,000 Day by day €1,000,000 per 30 days
EUR	iDEAL	€1	€100,000 Day by day €1,000,000 per 30 days	N/A
BRL	Pix	$10	$20,000 Day by day $50,000 per 30 days	$20,000 Day by day $50,000 per 30 days
AUD	Financial institution Switch	$10 for deposits and $5 for withdrawal	$10,000 Day by day $20,000 Weekly	$10,000 Day by day $20,000 Weekly

OKX Safety Measures

• Two-Issue Authentication (2FA): That is an absolute should! OKX helps 2FA by way of SMS, e-mail codes, and authenticator apps like Google Authenticator. This provides an additional layer of safety.
• Passkeys: Whereas not but as widespread, OKX is exploring using passkeys as a substitute for passwords. Passkeys are extra immune to hacking and phishing makes an attempt.
• Anti-Phishing Code: You possibly can arrange a singular code that can seem in all real emails from OKX. This helps you rapidly spot pretend emails attempting to steal your knowledge.
• Chilly Wallets: Most of OKX’s cryptocurrency holdings are stored offline in “chilly wallets”. A smaller quantity is stored in on-line “sizzling wallets” for each day transactions.
• Multi-Signature Know-how: OKX makes use of methods the place a number of approved individuals must approve transactions. This prevents any single particular person from making unauthorized actions of funds.
• Proof-of-reserve knowledge (PoR). The platform makes its solvency knowledge public and you’ll confirm it on DeFi blockchain explorers like Defilama. Presently, OKX has over $29.25 billion underneath its custody.
• OKX threat defend: It has an insurance coverage fund put aside particularly to guard your property within the unlikely occasion of a safety breach. It’s much like Binance’s “SAFU”.
• Withdrawal Deal with Whitelisting: This lets you whitelist addresses for withdrawing your funds. Any try and ship funds to an unknown tackle will likely be blocked.
• Necessary KYC (Know Your Buyer): OKX requires customers to bear necessary KYC verification. This helps stop criminality and ensures customers are who they are saying they’re.

OKX App Overview

Many individuals commerce crypto on their telephones nowadays. When you’re one among them, you’ll be glad to know that OKX has a well-made cellular app, that includes superior buying and selling functionalities and sturdy safety measures. It’s obtainable for each Android and iOS telephones. The OKX app has all of the necessary options it’s essential commerce on the go. You possibly can examine costs, place orders, and handle your portfolio from anyplace.

The OKX cellular app additionally has a useful “Lite” mode. That is designed for people who find themselves new to crypto and will need a less complicated expertise. Nevertheless, extra skilled merchants may like the complete set of options for higher management over their trades.

OKX Restricted Nations

OKX could limit customers from sure nations resulting from regulatory causes or different elements. Nevertheless, the listing of prohibited nations can change over time resulting from updates in rules or firm insurance policies. 

On the time of writing, a few of the nations sometimes restricted by cryptocurrency exchanges OKX embody:

1. Hong Kong (particularly derivatives-related companies)
2. Singapore (margin and derivatives associated companies)
3. The US of America together with all U.S.A. territories
4. Canada
5. The Netherlands
6. The UK (derivatives-related companies for retail customers)
7. India
8. Japan
9. North Korea
10. Malaysia

And many more!

OKX Buyer Help

Once you’re coping with crypto, it’s necessary to have good buyer assist if one thing goes fallacious. OKX has a number of methods to get assist for those who want it. They’ve a help center on their web site with numerous articles and solutions to widespread questions.

For extra particular issues, you’ll be able to contact them in a couple of methods:

• E-mail: Ship a message to [email protected]. They normally reply inside a day or two.
• Dwell Chat: On the OKX web site, there’s a dwell chat possibility the place you’ll be able to discuss to a customer support particular person straight away.
• Social Media: OKX additionally has accounts on Twitter and different social websites the place you’ll be able to contact them.

Clients looking for help can attain OKX buyer assist by way of numerous strategies, together with submitting an internet assist request, opening a dwell chat window, or emailing the corporate. Moreover, an internet assist middle is on the market with solutions to often requested questions.

The alternate additionally receives fairly good rankings, similar to 4.6/5 on the App Retailer and 4.5/5 on the Google Play Retailer. Nevertheless, OKX has solely obtained a Belief rating of 1.9/5 on Trustpilot. We seen that some customers have talked about that OKX’s customer support may be gradual generally.

Consumer Expertise: Is OKX Simple-to-Use?

OKX gives a great buying and selling expertise. They’ve a variety of cryptocurrencies to select from, and their buying and selling charges are fairly low in comparison with another exchanges. The cellular app is the cherry on high for on-the-go merchants.

The buying and selling platform itself is well-designed. It may be a bit advanced for those who’re new to buying and selling, however there are guides that will help you get began. Extra superior merchants will discover numerous instruments for analyzing the market. These embody charts and methods to arrange completely different sorts of orders.

OKX Alternate options to Take into account

Binance and Bybit are fashionable different cryptocurrency exchanges to OKX. Here’s a transient comparability:

Options	OKX	Binance	Bybit
Based	2017	2017	2018
Well-liked buying and selling options	Spot, margin, derivatives, OKX Earn, NFT market, Web3 pockets	Spot, margin, futures, P2P, Earn merchandise, launchpad, staking, NFTs	Spot and derivatives buying and selling, copy buying and selling, bots, Web3 ecosystem
Web3 Pockets	Sure	Sure	Sure
Supported cash	327+	381+	1,167+
Buying and selling charges	0.08% maker and 0.1% taker	0.1% maker/taker	0.1% maker/taker
Deposit and withdrawal charges	Zero charges	Zero charges	Zero charges
US presence	Restricted (OKCoin operates)	Separate platform Binance US obtainable	No availability
Native token	OKB	BNB	BIT

Methods to Purchase Crypto on the OKX Platform?

Step 1: Create an Account

Go to the OKX website or obtain their cellular app. You’ll see a button that claims “Signal Up”. Click on it. You’ll want to provide some primary data like your e-mail tackle and create a powerful password. OKX will ship you an e-mail to confirm your account. Click on the hyperlink within the e-mail to activate your account. Now, for safety functions, you’ve got necessary 2FA. You should utilize both SMS or Google Authenticator code.

Step 2: Confirm Your Id (KYC)

Earlier than you can begin buying and selling, OKX must confirm your id. That is necessary! This course of is known as KYC (Know Your Buyer) and is a typical safety step on most exchanges.

Go to your profile part and choose “Verification”. Click on on this and comply with the directions. Normally, you’ll want to supply an image of a government-issued ID (like a driver’s license or passport) and a selfie. The verification course of can take some time, generally a couple of hours and even a few days.

Step 3: Deposit Funds

As soon as your account is verified, you’re able to put some cash in. Search for a piece within the menu bar that claims “Purchase Crypto”. Now, you need to use both “Specific Purchase” or “P2P buying and selling”.

For this information, we will likely be utilizing “Specific Purchase”. Choose your most well-liked fiat foreign money, cryptocurrency, and cost methodology. It might take a while to your deposit to indicate up in your OKX account, relying on the tactic you used.

Step 4: Begin Buying and selling Crypto

As soon as the cash is in your account, you can begin shopping for crypto. Search for a piece known as “Commerce” and choose “Spot”. Right here you’ll see a listing of various cryptocurrencies that OKX gives. Discover the buying and selling pair you need to purchase (for instance, BTC/USDT or ETH/USDT) and click on on it.

You’ll see a buying and selling display with charts and costs. Resolve how a lot of the cryptocurrency you need to purchase and how much order you need to place. A easy “market order” will purchase your crypto straight away on the present value. When you’ve positioned your order, OKX will do the remainder and you will note your funds within the pockets.

Closing Verdict

Our OKX platform overview discovered that it’s among the many trusted cryptocurrency alternate apps for each rookies and skilled crypto merchants. It has all fashionable cash and tokens to select from. The charges are low, particularly if you’re a high-volume dealer. The platform can be simple to make use of for rookies and there are many instruments and options for skilled merchants. OKX additionally has methods to earn curiosity in your crypto, which is a pleasant bonus.

Nevertheless, the draw back is that it’s restricted in sure nations such because the US and India. Moreover, it doesn’t listing all new tasks and low-cap altcoins for buying and selling.

OKX Change Overview: FAQs

Who’s OKX Greatest For?

OKX is finest for all ranges of cryptocurrency customers. As a newbie, you’ll respect its options like spot buying and selling, on the spot fiat-to-crypto convert, and P2P marketplace for simple withdrawals and deposits.

Skilled crypto dealer will respect its superior buying and selling instruments, excessive leverage, and margin buying and selling choices. When you like incomes passive earnings, OKX is nice for that too, with staking, financial savings, and DeFi options. If you’re a Web3 explorer, it has a non-custodial pockets, NFT market, and decentralized swap options.

Is OKX legit & protected to make use of?

Sure, OKX has a stable repute as a reliable and safe alternate. It has greater than 50 million customers in over 100 nations. It’s licensed within the Bahamas and not too long ago acquired a VARA registration in Dubai. The alternate additionally makes use of industry-standard safety measures like chilly storage, multi-signature wallets, and publicly obtainable PoR knowledge for transparency.

Can US residents use OKX?

No, US residents can’t entry the principle OKX platform. Regulatory restrictions stop OKX from providing its full vary of companies inside america. Nevertheless, US residents can doubtlessly discover OKX’s decentralized choices, just like the OKX Pockets and NFT platform.

Is OKX good for brand new merchants?

Sure, OKX has lots to supply new merchants. It has easy purchase/promote capabilities, academic sources, and demo buying and selling to follow with out risking actual cash. Nevertheless, its extra advanced options, like margin and futures buying and selling, may very well be overwhelming for rookies. When you’re new, it’s clever to start out with the fundamentals on OKX and steadily discover its superior options as you acquire expertise.

Is OKX a Chinese language firm?

Sure, OKX has Chinese language origins. It was based by Star Xu in China in 2017. As a result of altering rules in China relating to cryptocurrency, OKX moved its headquarters in another country. It presently operates from places like Seychelles and Dubai.