They can also view real-time streaming quotes, deposit and withdraw funds, and store crypto coins in built-in digital wallets. It’s one of the leading crypto exchange platforms that’s recommended due to the wide array of different features that it offers to its users. That being said, if you’re looking for alternative options, I’d recommend checking out the leading exchanges on the market – Binance, Coinbase, and others. Based on our testing, it supports over 300 tokens and 500 trading pairs. Its competitive fees and advanced trading functionalities make it a perfect match for serious traders.
OKX (Previously OKEx) Review: Important Read
We strive to eventually have every article on the site fact checked. We test each product thoroughly and give high marks to only the very best. We are independently owned and the opinions expressed here are our own. You could use it with a VPN, but there’s no reason to do that when higher-volume exchanges are available.
- The benefit of using OKX to attain a crypto loan is that funds held on the exchange can be used as collateral, making it highly convenient for traders with existing holdings on the platform.
- OKX (Previously OKEx) offers more than 246 different cryptocurrencies, which users can trade on the website against ETH, USD, BTC, DAI, and OKB pairs.
- Yes, OKX is a very popular crypto exchange and is a prime contender with the likes of Binance and OKX.
- Both exchanges operate on a maker/taker fee model with trading fees being determined by 30-day trading volume and/or assets held.
- From our experience, the best way to contact a representative is through their helpdesk on X.
- While testing the platform for our OKX review, we found the company’s app responsive and easy to use, with all critical features available.
- You can even swap one stablecoin to another stablecoin (they’re coins like USD on the blockchain, which you can use to trade other coins).
OKX (Previously OKEx) Review: Supported Countries and Regions
That said, ICO investing is an inherently high-risk activity, and OKX has only launched 13 projects, none of which have been particularly notable. Unlike the popular crypto launchpad from Binance, which has launched over 64 projects, including StepN and BitTorrent Token, Jumpstart is still in its infancy. As such, it could be worth waiting to see how its ecosystem develops before investing. While some might point to the December 2023 incident involving OKX’s DEX, it’s crucial to understand that OKX DEX and the centralized exchange are separate entities. The hack did not impact the security of user funds on the centralized exchange. Despite its selectiveness, the OKX exchange occasionally lags in listing trending assets.
Borrowers may repay the loans as desired without any hidden fees.
Deposit- Buy crypto with 129+ supported services for bank transfers, card purchases, Apple Pay, etc. Crypto can be purchased with 90+ fiat currencies and withdrawals are supported in 12 fiat currencies. Traders must shift their perspective on risk from something to avoid completely to a feature they can optimize. This okex review perspective arises from the fact that the market inherently contains risk. In an entirely risk-free market scenario, all traders would be consistently bullish, and there would be no sellers, rendering a market non-existent. Spot is the financial market where assets are traded for instant delivery and settlement.
OKX also offers a wide range of alternative products, including margin trading, futures trading, perpetual swap contracts and trade options. From this, and from the suspiciously regular price fluctuations on some assets, Ribes concluded that OKX was pumping up its own volume to attract investors. Besides trading functions, OKX also offers crypto insights and alerts, as well as an analysis feature that tracks profit and loss trends within users’ investment portfolios. This, combined with the wide scope of cryptocurrencies and trading pairs, provides ample opportunities for users to diversify their investment portfolios effectively.
Can I Transfer Crypto From OKX To My Personal Wallet?
Due to the rollout of worldwide crypto regulations, OKX has been increasingly restricted. It has faced bans and restrictions in whole swathes of the markets it previously operated in freely. We do not generally recommend OKX for DCA (Dollar-Cost Averaging) investing because it doesn’t offer an option for automated recurring buys. OKX has a stellar security record — never hacked, solid proof of reserves with monthly audits, and high security with 2FA and multi-factor biometric scanning. OKX does not use an ordinary Transmission Control Protocol/Internet Protocol (TCP/IP), which is the typical method that allows digital computers to communicate over long distances. Instead, this communication is conducted via a special network communication protocol that is a proprietary, partially offline service that prevents an online attack.
- Binance Earn offers users products such as staking, opening a savings account, liquidity farming, BNB vault, etc.
- Furthermore, customer support for OKX has been reported as adequate but not exceptional, with some instances of slow response times when users encountered issues.
- It currently has over 400 cryptocurrencies in the spot market and nearly 500 tradable assets across all markets, similar numbers to OKX.
- After completing this, your withdrawal limit will increase up to 300 BTC.
- This is a number that is increasing all the time with new coins and tokens coming on board at a steady rate thanks to the support of the trading platform.
- Even though the owner(s) of this website receives compensation for our posts or advertisements, we always give our honest opinions, findings, beliefs, or experiences on those topics or products.
- This includes products that allow users to earn passive income on their crypto by utilising a multitude of different products that vary in returns and risk.