Strong points
Founded in China by Star Xu, a Chinese renowned crypto entrepreneur, the OKX exchange has rapidly grown since its launch in 2013. Previously known as OKCoin, in just a few years, it has become one of the most renowned cryptocurrency exchanges out there.
Building on its own success, the platform relocated its headquarters to San Francisco but operates worldwide. Being a centralized cryptocurrency exchange, OKX is managed by a central company and complies with the rules and authorities of the countries it operates in.
The success of OKXis largely supported by its wide range of services.
It not only gives you a platform for buying and selling hundreds of crypto, but it also offers trading tools with advanced features. The platform hosts an affiliate program from which you can earn substantial discounts on your trading fees and commissions.
We find the security of OKX exceptional with two-factor authentication and SSL encryptions as the flagships. With millions of active users and solid liquidity on its trading pairs, this exchange is one of the best platforms of our era.
OKX
OKX
In this OKX review, one of the core advantages of OKX’s platform is its wide selection of cryptocurrencies, which are all available for purchase. Among popular tokens, you’ll find:
Since OKX is compatible with other less known altcoins, you’ll also find:
At the same time, the exchange offers an interesting choice of stablecoins like:
Overall, there are more than a hundred cryptocurrencies to buy from the OKX app.
The platform tracks and displays crypto prices in real time, which includes their shifts over a 24-hour period and their market cap. You can set certain currencies as favorites and facilitate searches for new assets at the touch of a button.
The OKX exchange has a variety of services and features to help you invest into cryptocurrencies. In addition to buying and selling crypto, OKX allows its accounts holders to use margin trading and portfolio-management services.
These additional features are essential when maximizing your earning potential by using, for example, your proprietary trading strategies. Below is a look at your list of services and options:
Crypto trading is what OKX was made for.
The platform is, in fact, one of the richest in cryptocurrencies, hosting a vast selection of well-known tokens, like BTC or ETH, and altcoins like EGLD or SHIB. You can, at the start, buy crypto using different payment methods, which include credit/debit cards, bank transfers and even electronic wallets. Choosing OKX means that each of your transactions are secure.
Margin trading, which is also called leverage, is accessible to all accounts. Leverage, which allows you to borrow money to increase your purchasing power, is very risky, but with it, you can multiply your account without needing the full amount your account trades.
Margin and leverage allow you to buy more crypto than you could usually afford, which is how you increase your potential gains, including losses. On OKX, traders can activate leverage of up to 5 and even 10 times more for certain tokens.
Essential for those seeking to earn interest on their digital assets, staking cryptocurrencies is one of the key offers of OKX. Staking your crypto can earn you daily and weekly rewards. The interest paid for staking is clearly stated but varies from one crypto to another.
You also have portfolio-management services. It involves a financial dashboard, allowing access to summaries and your win to loss ratios over a day, week or month. Likewise, the platform has semi-automated portfolio management, which places reocurring buy or sell orders for you.
Like other leading exchanges, OKX has its own affiliate program, and through it, you get:
Unlike platforms such as Cryptopay, OKX does not offer crypto payment cards.
OKX offers competitive trading fees for buying and selling crypto. Registration on the platform is free. The company’s trading fees are calculated based on your trading volume over a 30-day period. Fees are divided into several levels according to volume and consist of:
Overall, OKX’s trading starts at 0.1% for maker fees and 0.2% as taker fees for any monthly trading volume below $100,000. For those trading up to $500,000 per month, you’ll find a drop to 0.09% for maker fees and 0.18% for taker fees.
If your monthly trading volume is more than $500,000, the fees go lower, falling within the range of 0.07% to 0.00% for maker fees or 0.16% to 0.02% for taker fees—based on monthly volume.
OKX’s Fees
In addition to trading fees, OKX charges fees for deposits and withdrawals. Such depends on your payment method, being higher for credit/debit card deposits than for bank transfers.
As an added note, you’ll save on these fees when you use the OKX-bonus program.
OKX
OKX
Via both iOS and Android, the OKX app offers practical means of buying and selling crypto and will track your investments in real time. It’s made to recreate interfaces similar to those of platforms that are accessible on computers but with a user interface adapted to smartphones.
With the OKX app, you can buy and sell all cryptocurrencies offered by the platform. You’ll access real-time price charts to follow market trends and make appropriate decisions. Crypto trading enthusiasts and professionals will find a unique feature added—Instant Trade.
Instant Trade places buy and sell orders at the touch of a button and without you having to manually enter the order details. The feature, only available on the actual app, is practical for traders who want to quickly place orders in real time. At the same time, the features of the OKX app include real-time price alerts that help you to passively follow market fluctuations.
Enable notifications on the cryptocurrencies you’re interested in, and you’ll receive alerts as soon as a crypto reaches your price level. Just like the website, OKX’s mobile app relies on advanced security. Every connection involves two-factor authentication, and your data is protected via SSL encryptions.
The OKX platform offers two types of crypto accounts:
Security is one of the main concerns of investors in cryptocurrencies and an essential criterion for choosing the right crypto exchange. The good news is that OKX implements a series of security measures to ensure safe transactions and data protection. Let’s take a closer look at these safety features, regulations and licenses:
Cyberattacks, intended to expose a website, can paralyze a crypto exchange. Thanks to the anti-DDoS protection system, OKX remains accessible even in the event of a severe attacks.
Of the many leading crypto exchanges, OKX is among the few to be “fully” regulated. Regulation ensures that the platform follows US security and compliance standards. OKX is regulated in several jurisdictions, including the United States and Europe. Here’s a look:
OKX operates under the laws and regulations of the countries hosting it by following anti-money laundering (AML) and know-your-customer (KYC) protocols. Each account must provide valid identity documents before being registered on the platform.
OKX
OKX
In this mini tutorial, we guide you through the steps of buying cryptocurrencies on OKX. We cover account creation, verifying your identity and adding funds for your first deposit. We then show you how to choose crypto and proceed with your first purchase.
Go to the official OKX website, and click on the “Sign Up” tab at the top right. Fill in your data, including contact details, email address and password. Now click “Sign Up” to continue. To validate your email address, OKX will send you a confirmation email.
Open the email to verify your status. You can then log into your account, but to use all the platform features, you’ll still have to verify your identity.
Securing your OKX account is mandatory for accessing platform services. The security steps involve activating two-factor authentication (2FA) and choosing a unique password. Additionally, you’ll be registered through OKX’s Know Your Customer (KYC) process.
To start verification, click on “Verify Identity” in your profile menu and then follow the instructions. In particular, you will need to upload a valid ID as well as a photo of yourself. OKX will then review your verification request and notify you by email once you’re approved.
Now that you have access to OKX, your next step is to make a deposit, which allows you to purchase crypto. Log into your OKX account; then, click on “Deposit.” Choose the currency you want to deposit and your payment method. The platform supports bank transfers and deposits via credit or debit card.
Carefully follow the instructions offered by the exchange. Once your deposit clears, the corresponding amount is credited to your OKX account immediately but only when paying by card and within a few days when paying by transfer.
Now that you have money in your account, you can make your first crypto purchase.
Log into your account, and click on “Buy/Sell” in the menu tab. Select the cryptocurrency that interests you from more than a hundred listed options. Then, enter the amount you wish to purchase, which is either in fiat currency or another crypto.
Now confirm your transaction. OKX displays prices in real time, which reduces any unpleasant surprises. Once your transaction is confirmed, the platform credits you with crypto almost instantly.
OKX is, above all, a crypto-trading platform.
While it may be suitable for a wide range of users, it is especially suited to experienced and expert traders. OKX offers advanced trading features, which can be complex to use for beginners. Conversely, experienced users, who have in-depth knowledge of cryptocurrencies and financial markets, will find this platform suited to their needs.
Traders will benefit from advanced trading tools, a wide choice of charts and market indicators, being essential for analyzing trends and making accurate decisions. It’s difficult, however, to recommend OKX to beginners looking to buy crypto for the first time.
Among our selection of the best crypto platforms, some will be much more interesting for novices, like Bitbuy, Paybis or Libertex. However, if you want to take your first step, OKX has a Help Center where you’ll find answers to your questions and concerns.
OKX
OKX
The quality of customer service is an essential feature for most traders.
Whether you’re a beginner or expert, it’s difficult, if not impossible, not to have questions or not to encounter technical problems at one point or another. To help, the platform has effective reps.
Simply ask your question in the search bar, or consult the FAQ. If the help center cannot answer your questions, you can open a ticket by asking your questions directly to the service team. Give them, on average, two to six days to provide you with a response. Unlike other platforms, however, the OKX team cannot be reached by telephone.
The platform is active on social media where you can ask other users for information or help.
OKX Customer Service Highlights:
Weak Points of OKX Customer Service:
The OKX platform is a crypto exchange for experienced and expert users. It offers advanced features for seasoned traders. The platform has a wide selection of competitive trading fees and even better deals for larger transactions.
Certain points can, nevertheless, be improved. We regret, for example, that OKX is not suitable for beginners who have no experience in crypto trading. The platform is complex. Even more, some users have reported difficulties in contacting customer service. If you have urgent issues, this can be difficult.
However, the exchange operates in over 190 countries around the world and is accessible from a computer or mobile app.
