A charting package, developed by parent company and sister exchange OKCoin, is also a major feature and will be appreciated by anyone with trading experience. OKEx Review : OKEx Pros & Coins & Is Safe or Not? - The Money Mongers Users can buy popular cryptocurrencies like Tether (USDT), Polygon (MATIC) Dogecoin (DOGE) and more through a range of payment methods, including Apple Pay, Visa, Mastercard, MoonPay, and bank transfer. Like many other exchanges, OKEx has tiered fees, meaning that lower fees can be accessed by those with a higher trading volume, or by holders of the OKB utility token. When employing the staking or storage capabilities, it can occasionally produce very large yields. Our conclusion, the OKEx mobile stock trading apps is an all-in-one trading platform for cryptocurrency trading. However, residents of the following countries are restricted from trading with OKEx. Throughout the years of operation, OKEx has managed to raise capital from leading venture capitals and investment companies including VenturesLab, Ceyuan Ventures, Longling Capital, Qianhe Capital Management, eLong Inc. etc. Win up to $10,000 when you complete a deposit of more than $50 through a crypto purchase or top-up within 30 days of registration. A leverage ratio, also known as margin trading, is a tool that allows you to open positions with more capital than initially deposited. OKEx is a digital asset exchange that provides advanced financial services to traders globally by using blockchain technology. How OKX Compares to Other Cryptocurrency Companies, Securities Investor Protection Corp. (SIPC). We also reference original research from other reputable publishers where appropriate. Positive reviews focus on an easy online experience, fast transitions, and low fees. Founded in 2014 by Star XU, Belize-based OKex is a cryptocurrency and digital assets exchange that splits opinion. Cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and Polkadot (DOT) are supported by an underlying technology called blockchain, which acts as a decentralized digital ledger.Every cryptocurrency transaction is recorded in the blockchain and becomes immutable once confirmed and validated. This website may have financial affiliations with some (not all) of the brands and companies mentioned on this website. It is also regarded as the worlds second-largest crypto exchange in terms of high volume. Although not every pool is currently being used, there are quite a few people mining BTC, ETH, LTC, and XMR. It also offers exceptionally high yields in some cases when participating in staking or saving features. The highest tier VIP user with a 30-day trading volume above $1Bn can expect a maker fee of -0.01% and a taker fee of 0.03%. These include yield farming on Sushiswap or Compound, but also locked savings and C2C loans. On this exchange, you can avail of 24/7 excellent customer service. The app is available for both Android and iOS powered devices. OKEx offers a wide selection of trading assets, making it possible to get access to spot and derivatives trading. High-volume traders and those with a large holding in the OKB currency may qualify for discounts. Trading platform is much beneficial for professionals only and not for the beginner. OKX (formerly known as OKEx) Supported Countries: Global (including Australia) Fiat Currencies Supported: 50+ including AUD and USD: Deposit Methods: Credit/debit cards, Apple Pay, crypto transfer: Supported Cryptocurrencies: 355: Interest-earning Wallets: Yes (up to 365% APY) Deposit Fees: The exchange has brilliant records so far in the crypto world and has proved its worth as a secure and advanced platform for trading. Of course, OKB can also be used as a means of payment. And it involves accounts of C2C, spot and margin trades. No. The exchange discusses the main benefits of its brokerage program, and these include high commissions, product performance boosts, and 24/7 support. Mining pools allow investors to pool their assets together in order to rent server space, thats then used to mine a series of supported cryptocurrencies. OKB also opens up additional revenue streams in the form of passive income, via the OKEx Earn product. Quick borrowing and repayment are assured, but acceptable interest rates are provided as well. If you find any discrepancies or false information about projects, infringement of copyrights or scam, please write us. Crypto exchange offers users with Bitcoin and Litecoin futures and also high trade volumes. The Seychelles-based exchange is widely available to users worldwide but notably not available in the United States. OKEx Exchange review - SUPPORTED COUNTRIES. Perpetual contracts are similar to futures, with the difference being that there is no expiry date. OKEx: Excellent Crypto Exchange with Low Fees. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved. OKEx exchange | OKEx Review | OKEx Fee | OKEx trading- Coinpedia Annual percentage yields as high as 12.84% can be seamlessly obtained by taking part in the earn initiative. Ensure youre using the best security features OKX offers to keep your account and funds as secure as possible. First, it is difficult to find market news and analysis., which means youll have to find a third-party tool that offers instant market updates. Overall, the exchanges withdrawal fee is slightly lower than at other exchanges. Want to get started with OKEx? OKEx has invested considerable resources into building an all-inclusive platform, designed to serve most needs that digital currency enthusiasts may hold. Leveraged margin trading is also available for futures contracts. The blockchain has proven fairly scalable so far, while also being efficient thanks to the low transaction fees. Founded in 2013, Okcoin is a US-headquartered cryptocurrency exchange serving 190+ countries and territories. Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors. OKEx mining pools: Join safe, . Buy BCH. Next, you will have to enter a 6 digit code that was sent to your email or mobile phone. It is a digital trading platform which provides spot trading of digital currencies and fiat currencies to customers worldwide. Furthermore, in order to secure investors account from unauthorized access, OKEx supports the following features: OKEx offers 24/7 online support to help users solve any technical and trading issues. OKex also offers futures trading for Bitcoin, Ethereum and EOS with weekly, bi-weekly and monthly contracts available. Okex is a well-developed cryptocurrency exchange with its significant features. This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Either way, OKEx exchange employs a cold and hot wallet architecture designed to keep the majority of funds on air-gapped devices that are inaccessible from the outside. As previously mentioned, OKEx allows users to deposit funds through a wide range of crypto coins but keep in mind that you will be able to transfer a specific type of token to the wallet deposit address you receive on the selected token only. If you want to see the whole structure of trading fees of the Okex exchange, you can visit this link: The 24/7 service is available for the customers. Cryptocurrency transactions are generally one-way and cant be reversed, so always double-check transaction details before proceeding. window.coinzilla_display = window.coinzilla_display || []; If you have any kind of inquiry about the exchange and you face any problems in your accounts or about your transactions then you can get help from the Okex community. However, some assets are made interoperable, thereby living on a number of different blockchains. Unlike fiat currencies that rely on banks to maintain a centralized ledger inaccessible to the public, cryptocurrency transactions are on a public blockchain that can be tracked and monitored by anyone.Additionally, depending on the consensus mechanism, anyone can validate transactions and add them to the blockchain, making cryptocurrencies decentralized.Many believe that blockchain technology will shape the future of money, potentially rebuilding the global financial system from its foundations. This website uses cookies for functionality, analytics and advertising purposes as described in our Privacy Policy. Keychain Cryptocurrencys Wallet And Password Stolen, Atomic Malware Fingered, US Slams North Korean Banker With Double Indictment Over Crypto Laundering. The crypto earn feature has become incredibly popular as of lately, especially in the decentralized finance space. The daily volume of BTC futures trade on the Okex exchange is $1.5B. Users can deposit and withdraw funds whenever they want. 1. Both give users access to the same account details, though some may find the larger screen on a desktop computer or laptop easier to navigate. Fees are tiered based on average 30-day trading volumes but are low even at their upper end. Overall, the exchanges user interface is very friendly and interactive, particularly when compared to other exchanges such as Binance. The Russian government issued a ban on Bitcoin in the past, but has revoked it after many other jurisdictions published their regulations. He's written about every type of automated trading tools - from cryptocurrency robots, binary option robots, down to robo advisors. The platform currently supports multiple order types, including but not limited to limit, advanced limit, market, stop limit, trail, iceberg, and TWAP orders, allowing users to make the most out of their trades. 5. OKEx aggregates a series of earning opportunities within its earn product. So far, OKEx has never faced a high-profile successful hack, in spite of the fact that some users reported that their accounts were accessed by attackers, leading to loss of funds. Nowadays, OKEx is one of the top 20 cryptocurrency exchanges worldwide by trading volume according to CoinMarketCap, and has a wide presence all over the world. Accepts PayPal OKEx is a Malta-based world-leading cryptocurrency exchange that allows users to trade on hundreds of tokens and futures trading pairs. Some of the supported countries on the exchange platform are Australia, Denmark, Iceland, France, Nepal, Malta, Indonesia, United Kingdom, Lebanon, Mexico, Libya, Sweden, and others. Users can therefore cloud mine BTC, BCH, EWTH, LTC, DASH, DCR, XMR, BTM, AND BTG. Okex Accepted Countries. Most countries do not recognize Bitcoin as currency, instead defining it as virtual good. The platform enables retail and institutional investors to purchase digital assets using local currencies, with a mission to make crypto easy for everyone, including first-time buyers. With support for 36 cryptos, multiple direct integrations with the trading app, and a vault service, the OKEx wallet has attracted tons of users. Because trading platforms are relatively heavy, downloadable software that takes most of the strain means avoiding the risk of a browser running into memory and processing difficulties and potentially freezing. OKEx currently mines via the proof-of-work (PoW) consensus mechanism, and supports several algorithms, these being SHA256, Ethash, Scrypt, X11, Blake256, RandomX, Tensority, Anx Equihash. These methods are: The exchange offers different types of trading options on the platform. OKEx is a safe cryptocurrency exchange as they use the most advanced encryption technology to secure its platform from hackers. In addition, OKEx has a great FAQ section a join the community section where you can find answers and communicate with other members on the platform. This native chain is described as the the next step in the development of decentralized trading, hence allowing people to easily trade any valuable asset directly on-chain, whilst retaining full ownership over the assets in question. Because of this, it has the potential of becoming a form of "digital gold", and is therefore an asset with the possibility of replacing gold in the internet of value era. A Level One KYC-verified account requires entering basic information, including a government identification number. Suggestions that security levels of the exchange itself were insufficient were refuted and new guidelines on account and wallet security issued to clients. The company, whose operations are based out of Hong Kong, has some significant backing. Most of the assets that are freely tradeable within the spot wallet can be deposited and withdrawn with ease, and without having to pay unnecessary transaction costs. We independently evaluate all recommended products and services. Coinbase is available to users in over 100 countries, including the U.S. OKX supports 343 currencies, while Coinbase supports just 160. It has a wide range of payment options available, including Google. The state of New York has introduced BitLicense for the exclusive regulation of Bitcoin. Prominent crypto exchange OKEx says that . OKEx perpetual traders will find an immersive interface that contains all necessary tools. The crypto exchange has been providing advanced financial services to traders globally using their blockchain technology and currently caters to over a million users in 100 countries. So, users should feel free to think about the exchange. Offers large trading volumes This is good for people new to cryptocurrency looking to buy their first Bitcoin, Ethereum, or any other supported currency. c_display_preferences.height = "250"; The token comes along with a deflationary mechanism, designed to reduce the circulating supply, thereby further boosting the tokens value. Global world-leading companies like Samsung, BlackRock, Morgan Stanley, and Alphabet have invested in blockchain and crypto. Whether you are an advanced active trader or a one-time investor, you will find a solution on this platform. OKEX Review - Accepted Countries, Payment Methods, Coins & User Reviews To access the OKEx Cloud, users will have to fill an application form and conduct an audit with a dedicated project manager. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. For spot trading, a tier-1 regular user with an OKB holding below 500 can expect to pay a maker fee of 0.08% and a taker fee of 0.1%. The main mission of the exchange as described on the website is: OKEx believes the blockchain technology will eliminate barriers to transactions, increase the efficiency of transactions across society, and eventually have a significant impact on the global economy. The OKEx exchange is currently providing its services to over 100 countries. OKEx Review 2023 - Crypto Exchange Reviews - Crypto Head The overall attitude of regulatory bodies is now changing from a neutral view to a positive one. Accessibility is a major problem with Zenledger despite being a major player. OKX offers low fees, but it's not available to U.S. investors. What Coins Are Supported on OKX? Required fields are marked *. There are multiple revenue streams accessible by simply owning cryptocurrency, including yield farming, staking, or lending interest. The simple form to buy crypto using a card, bank account, or digital wallet. For spot trades, the most you will pay is 0.10%. For example, if the Bitcoin trader has achieved a spot trading volume greater than 500 BTC, the market taker fee reduces to 0.135%. 4. OKEx presents itself as a global digital assets exchange that gives traders advanced financial services using blockchain technology. OKEx allows loans for a period ranging between 3 to 180 days, which are often priced at a 3.65% 15.33% effective interest rate. He has 10 years of experience in banking, corporate finance, and corporate accounting. On this platform, you can deposit funds with crypto coins you own or with fiat currency payment methods. OKExs loan product allows traders to quickly obtain crypto-backed loans from the platforms other users. Tokens are burnt every three months by having them sent to a non-access burning address. Bitcoin is a reserve asset like gold, and because of its standardization, divisibility, and the ability of conducting online transfers, it has great advantages in many aspects such as payment efficiency, preservation cost, and more. Once the funds have been automatically added to your account, you can start trading at OKEx. Many users have reported that Binance closed their accounts because they reside in one of their unsupported countries - including users from Serbia, Bosnia, Iran, Myanmar, among other countries. The supported countries list for Kryptoksatt is expected to grow to 10+ countries including the UK, Canada, and the US within the next few months. Many European countries have also been adopting positive attitudes towards Bitcoin. Like many large cryptocurrency exchanges, OKX offers a simple trading form that works well for beginners alongside an active trading platform for intermediate to expert traders. Extensive range of pro trading options such as futures, Extensive range of over 100 cryptocurrencies supported, Chinese market focus though should change with international expansion ambitions. Okex exchange accepts users from more than 100 countries all over the world. OKX is available to users in over 200 countries, but its not available in the United States. 3 : Saving Wallet: It allows you to save their funds and earn interest on it. Maddy Simpson is an experienced data journalist and fact-checker with a background in financial analytics. The company was originally located in Hong Kong, China, and has, since then, expanded its offices in Belize and more recently in Malta, an island known for being a hub for blockchain-based and cryptocurrency projects. Of course, all transactions out of OKEx wallets entail the payment of blockchain transaction fees, which are non-dependent on the exchange. Your email address will not be published. Contact at info@tokenhell.com if you have any questions. Once you click on the Buy button, you will be transferred to a page where OKEx offers you the best prices provided by a third party. The exchange was initially started by Star Xu in the year 2014. Lastly, OKB ownership allows users to join the OKExChain ecosystem, an open-source blockchain that allows users to obtain a larger number of tokens as soon as the mainnet is launched. Then, select one of the OKEx-supported fiat currencies and set the amount of which you wish to buy a specified crypto coin. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website. This process includes uploading your passport and recording a verification video according to the instructions provided by OKEx. OKB is also usable for traders looking to take part in token sales promoted via the Jumpstart product. OKEx Review 2021: How To Use Exchange | Fees, API & Cryptos Apart from facilitating instant trading between popular trading pairs, OKEx exchange also provides margin trading, futures trading, DEX trading, perpetuals trading, and options trading. Users will first have to activate margin trading by agreeing with the risks. [3] [4] It is not currently available to US-based investors. OKEx offers crypto trading services to more than 100 countries around the world. In summary, OKEx is one of the best exchanges in terms of liquidity, the supported assets, and features. When you use margin trading, you are essentially borrowing funds from your crypto exchange and therefore, they will charge you interest on any position held overnight. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review. OKX is a top crypto exchange trusted by millions of users. OKex is a well-backed exchange with significant global ambitions. Trading fees are low and competitive. Customers reviews are mixed about their customer service. Cryptocurrency exchanges have some unique security concerns you dont typically face with traditional banking platforms. The main trading options on the platform are: Fees are imposed on users on the basis of the trading option they choose. The OKExChain ecosystem makes use of OKT, its very own native token that fulfills multiple use cases. Countries Allowed. This means transactions can neither be reversed nor tampered with. Negative reviews mention poor customer service, lost funds, and slow withdrawals. OKEx was founded in 2017 by Star Xu. CRYPTOTOTEM. At this point in time, OKEx classes as one of the worlds largest exchanges by features and trading volume, a title it has rapidly gained since its establishment in 2013. Any of the exchange cannot be regarded as a trusted exchange until it proves itself. The wallet is available on OKEx desktop/web platform and on the OKEx mobile app. In 2018, it expanded crypto operations to Malta as the Maltese government has adopted an overall friendly approach to cryptocurrency trading. OKX could work as an exchange you use in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities. When engaging in margin trading, users increase their exposure to cryptocurrency volatility without having to purchase too much crypto out of their own pockets. OKX (Previously OKEx) Review: Supported Countries and Regions. Okcoin (OKEx) Exchange Review - Safe or Scam Exchange? OKX was founded in 2017 and maintains a headquarters in Seychelles, with additional offices around the world. Were serving millions of users in over 100 countries. Most of your OKX account needs will be self-serviceplan to handle your trading and account updates yourself. Okex Exchange : Buy Bitcoin & other cryptocurrencies - Google Sites This platform is ranked as the fourth biggest crypto exchange in the world in terms of trading volume and is best suited for experienced cryptocurrency traders and for one-time investors. The most notable one is the United States of America, which has limited the activity of foreign crypto exchange platforms, which are now subject to regulatory approval. Feedback on support levels is mixed with some complaints online around slow response rates or failure to resolve problems. CoinMarketCap. This page may not include all available products, all companies or all services. If you need extra help, OKX offers a help page and chat support. OKX also supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. OKCoin is the simpler exchange and focuses on pure buying and selling of cryptocurrencies and ICO tokens, while OKex offers a more sophisticated offering that has more in common with traditional financial securities exchanges. OKX is an innovative cryptocurrency exchange with advanced financial services. Deposit Methods In this case, users can choose to add liquidity to a pool, which rewards them a percentage of the transaction fees incurred. OKExs trading interface comes along with all tools needed to make smart and profitable futures trades. Bitcoin is a virtual good and is similar in many ways to more traditional investments. OKEx lists a series of companies that currently accept OKB in exchange for access to their services. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Global Crypto Exchange | Buy Bitcoin & Crypto Worldwide | Okcoin While that can be expected to change in the relatively near future, the fact CNY is the only fiat currency supported on the platform means OKex is still very oriented towards the Chinese market. OKEx is one of the few crypto exchanges on the market to offer not only a mobile app, but a desktop app as well (rather than only offering a browser version on desktop). Thus, the app serves as an all-inclusive interface that allows both asset storage and trading. The OKex exchange platform is available both in-browser and in the form of desktop client software which is downloaded. Read full terms and conditions / disclaimer. This review serves the purpose of covering and evaluating everything there is to know about the OKEx digital assets exchange. OKEx is currently considered one of the largest and most popular crypto-to-crypto and fiat-to-crypto exchanges in the world, serving more than 20 million users in over 100 countries. Of course, any losses that incur on the higher exposure will have to be paid out by traders. Generally, it would appear that the exchange is quite inflexible in its systems and approach but users who understand this and act accordingly report few problems. Okex exchange accepts users from more than 100 countries all over the world. These trading wallets include: 1 : Funding Wallet: Funding wallet allows you to transfer, deposit, and withdraw your funds. Investopedia requires writers to use primary sources to support their work. With these security features, scams can not touch the platform. Andorra Wire. In October 2017, a number of OKex account holders complained that their accounts had been hacked and cryptocurrency holdings were stolen. Those include: On top of that, OKEx offers a crypto mining pool, Crypto-to-Crypto loans, and staking. Great Mobile app, 1 Provider that match your filters Providers that match your filters. OKEx does not have its own fiat on-ramp, but it has partnered up with a third party to accept fiat-based deposits as well. Supported fiat: 90+ Withdraw options: ERC-20, TRC-20, BEP-2, and BEP-20. Further, the charts are not intuitive to derive insights and can be difficult to use. Luckily, the account creation process is not complex and you will be able to either register through the website or OKEx iOS/Android mobile app. Coins are also spread out across multiple private keys, which are encrypted and help in bank vaults. Users will not only learn how to use each of the services that OKEx provides, but also how to conduct technical analysis, how to understand bullish and bearish sentiments, and how to carry out industry analysis. In short, the trading platform is suitable for safe and secure, Tokenhell produces content exposure for over 5,000. OKX (Previously OKEx) is a global trading platform that is available to over 100 countries across the globe. OKEx (OKX) Exchange Review 2023 - Savvy New Canadians Below is a list of the countries not supported by OKEx: Registering for a trading account is mandatory in order to use the platform and trade cryptocurrencies. One major advantage of opening an account with OKEx, when compared with other crypto exchanges, is that when you use the One-stop Marketplace, no KYC verification on OKEx is required. Learn more. coinzilla_display.push(c_display_preferences); 2017-2023. The OKB utility token is one of OKExs native tokens, providing holders with significant benefits when using the platform. We also considered if the exchange is regulated by a proper agency or entirely decentralized. OKEx Review (OKX) For Australians In 2023 | CoinCryption All in all, here are deposit and withdrawal payment methods provided by OKEx: The minimum amount required to open an account and start trading is 10 USDT or any other cryptocurrencies with an equivalent amount. Afghanistan Wire. For further details, Users can also visit the official email of the exchange: support@okex.com. The digital assets trading platform offers investors and traders to trade with BTC, While the exchange supports the trade of 146 cryptocurrencies on the platform. OKEx Review 2022 - Cryptocurrency Exchange Review, Beginners Guide The basic forms to buy and convert cryptocurrency are simple and intuitive. According to OKEx, their daily trade volumes are more than $1.5 billion, and the platform has millions of loyal users in over 100 countries. Low trading fees also attracts users. In short, the trading platform is suitable for safe and secure cryptocurrency trading. Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! In a move that mirrors that of other major Chinese exchanges such as Binance and Huobi Pro, OKex also launched their own utility token cryptocurrency in early 2018.