Topic: Cryptocurrency exchange

OKX review: Pros, cons, fees & more

okex review

But, given the increasing competition in the industry, OKEx and other leading crypto exchanges have tried to keep their fees as low as possible. Additionally, the crypto exchange also allows traders to borrow coins from others at a set interest rate. OKEx regulates the entire process to protect both the lender and buyer. With options trading, you need to have the most profound understanding of how the crypto market works. The dozens of futures contracts offered by OKEx are also priced in Tether.

okex review

Listed OKX crypto exchange assets

The fund is replenished with the initial margin that liquidated traders have at the outset of their trade. When we look at exchanges, there are several factors that we take into account to determine how safe they are for their traders. For any crypto trader, this is one of the most important considerations. Unfortunately, we know all too well the risks that could come from centralised exchanges. Most of your OKX account needs will be self-service—plan to handle your trading and account updates yourself. OKEx supports 300+ cryptocurrencies, including Bitcoin, Ethereum, Ripple, Solana, Stellar, Decentraland, The Sandbox, and more.

OKX (Previously OKEx) Review: Algo-Order Options

When the funding rate is positive, longs pay shorts; when it’s negative, shorts pay longs. Futures are instruments whereby you agree to buy or sell some asset in the future at some predetermined time. These futures contracts are an obligation to buy/sell, which differs from options. Given that OKX derivatives operate a leveraged trading platform, they have to have measures in place to reduce the risk posed by market movements to the trading pool. The company has decided to venture into the new crypto frontier and explore DeFi products, NFTs, games and metaverses, becoming so much more than just a crypto derivatives trading platform indeed!

Deposit & Withdrawal Fees

Samuel Chapman, a writer and editor at Cloudwards, possesses over four years of experience specializing in online security, privacy and cryptocurrency. Beyond his professional life, Samuel indulges in fiction writing, historical fencing and board games. OKX is unavailable in the U.S. and Canada, and comes with its share of problems.

okex review

okex review

Our team of experts thoroughly test each service, evaluating it for features, usability, security, value for money and more. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. Additionally, the company has built the OKX Risk Shield, a reserve similar to Binance’s SAFU fund designed to ensure that customers remain whole even if a bad actor compromises the exchange. Currently, the OKX Risk Sheild is valued at around $700 million and should ensure that the OKX platform can continuously operate without any disruptions to service. Projects are only available on Jumpstart for a brief time, often a few weeks to a couple of months. However, with some posting historical returns of up to 17,000%, Jumpstart provides an intriguing way for OKX customers to invest their OKB tokens.

  • Please input the correct amount of your fiat or cryptocurrency before choosing the payment method.
  • Many traders would probably also want to know whether there are deposit and withdrawal limits when using the OKEx exchange.
  • If you already have crypto and want to deposit, you will have to generate an address.
  • They can only transfer the selected cryptocurrency to the provided wallet address.

Ease of Use and Interface

Furthermore, OKX demo funds can be used with its trading bots, enabling users to build bots that can be listed on the trading bot marketplace to earn additional revenue from followers. Although OKX previously offered fixed-term loans, the exchange platform now exclusively offers flexible loans, which enables users to tailor their lending to their needs better. Customers can use 109 cryptocurrencies, including Bitcoin, Ethereum, and XRP, as collateral, meaning customers have a great deal of customizability.

okex review

okex review

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. Their trading platform lets you trade a wide variety of cryptocurrencies across both spot and derivative markets. OKX also has a brokerage service where you can buy crypto directly using fiat currency. Aside from trading, OKX offers many other services, such as crypto lending and borrowing, as well as its own crypto mining pools and staking services.

  • I also need to give the OKX team kudos as they have placed a strong emphasis on crypto education through their fantastic educational section- the OKX Academy.
  • As for fiat payment methods, you can buy crypto using your debit/credit card, Apple and Google Pay, or SEPA/SWIFT transfer facilitated by a third-party vendor.
  • OKX can be intimidating for newer traders because it offers many features tailored to people who frequently trade.
  • The hack did not impact the security of user funds on the centralized exchange.
  • Those looking to hone their skills can engage in demo trading, which lets them practice the mechanics of crypto trading using fake money.
  • Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication.
  • Purchased assets go directly into your account and can be used to trade right away.