OKX, formally known as the OKEx exchange, is one of the world’s best crypto exchanges due to its broad spectrum of innovative products and services. However, due to its slow customer support, those considering OKX looking for efficient, tailored assistance should consider another option. OKX exchange users can trade 355 different crypto assets and make passive money from staking and crypto savings accounts.

Buying or Converting Crypto on OKX

• Despite these attractive features, the OKX crypto exchange is not without controversy, with some of its practices raising eyebrows even in the wild-west world of crypto.
• For any crypto trader, this is one of the most important considerations.
• With offices in Hong Kong, Singapore, the UAE, and the Bahamas, OKX’s cryptocurrency exchange is widely available to users worldwide but notably not available in the United States.
• The first enables customers to deposit/withdraw $100,000 in total and requires a few personal details like a residential address.
• You can learn more about the feature-packed OKX Wallet in our OKX Web Wallet Review.

Then, when it comes to how this is margined from your account, you can either elect to have it margined in crypto (Coin margin) or margined in Tether. If you pop on over to the position tiers guide, you will see that the 100x leverage (or 1% margin) only applies to those positions that are less than 3,000 contracts. This is because of an increase in the initial margin and the maintenance margin. Once you have set up your withdrawal password, you can go ahead and place your withdrawal amount and your offline address.

OKEx Review : OKEx Pros & Coins & Is Safe or Not?

• The structured products on the ‘Earn’ tab, complete with clear policies and case studies, simplify usage.
• When the funding rate is positive, longs pay shorts; when it’s negative, shorts pay longs.
• During our testing, we found OKX’s security practices to be among the best on the market.
• These are assets that “derive” or take their value from the underlying cryptocurrency.
• The return from liquidity mining can be much higher than that of staking.

Further, the user needs to complete KYC to unlock all the trading features. The one major question mark that continues to hang over OKX is in relation to the level of trust in those behind the exchange. Once these issues have been addressed, there is no reason why the platform can’t continue to go from strength to strength as a great trading choice for all. There’s also a «demo trading» feature that allows novices to practice trading with no risk.

OKX (Previously OKEx) Review: P2P Trade

No KYC is needed initially, but withdrawals over 100 BTC may require KYC submission. Because the Cloudwards.net team is committed to delivering accurate content, we implemented an okex review additional fact-checking step to our editorial process. Each article that we fact check is analyzed for inaccuracies so that the published content is as accurate as possible.

Still, the fee is less than the industry average, offering a cost-effective trading experience. However, there are limitations on applicable lending amounts based on asset and market conditions. The owner(s) of this website may be compensated to provide opinions on products, services, websites and various other topics. The views and opinions expressed on this website are purely the author.

How to pick the best crypto exchange for yourself?

OKX (Previously OKEx) is a global trading platform that is available to over 100 countries across the globe. However, these countries also have other options than OKX (Previously OKEx). Crimea, Syria, Ecuador, Bolivia, The USA and its territories, Hong Kong, Sudan, Malaysia, Kyrgyzstan, Bangladesh, and Cuba. However, there is a minimum amount of Bitcoin network fee that users have to pay when they withdraw Bitcoin from the exchange. Spot is the financial market where assets are traded for instant delivery and settlement. Please note that fiat channels for buying cryptocurrencies are only supported in some places, so you must check if they are in your country.

With its successful track record, Jumpstart is regarded as one of the VIP crypto launchpads in the industry. Additionally, we also compare these fees with industry standards to give a thorough perspective on each exchange’s affordability. OKX’s navigation is reminiscent of a decentralized exchange like Uniswap. Unfortunately, the next two attempts were unsuccessful; the withdrawals never reached my bank. Eventually, one week later, I received a notification that the option to withdraw fiat had been permanently removed due to geographical restrictions.

My experience wasn’t plagued by lengthy waits, but I did face issues with the specificity of their answers. OKX exchange equips users with a robust suite of tools and features to navigate the crypto markets effectively, from beginners to seasoned traders. OKX’s trading execution is flawless, offering spot and derivatives trading without delays – a stark contrast to my experiences with other platforms plagued by liquidity issues. Their recent inclusion of advanced Tradingview tools in the spot trading layout is commendable, though it might overwhelm newcomers. Quite good actually, OKX fees are among the lowest in the industry, so no need to worry about breaking the bank here. Of course, trading fees will differ according to your trading tier, what the instrument is, and how many OKB tokens you hold in your account.

When it comes to asset coverage, you can trade up to 12 different assets. These include all of those that you can trade with the futures above and the addition of NEO, LINK, and DASH. OKX terms these instruments at Perpetual Swaps, but they are sometimes called perpetual futures on other exchanges. So you can basically think about them as a traditional future except there is no expiry time.