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Cryptocurrency exchange

OKX Review Is it Legit? February 2024

okex review

OKEx offers spot trading for over 150 different digital assets across 450 trading pairs. Markets are formed for trading pairs primarily with dollar-based stablecoins, Bitcoin, Ether, and the exchange’s OKB token. It boasts over 20 million active users and has a global presence in more than 200 countries worldwide.

  • Also, if you are an experienced crypto evangelist, Binance might just cater better to your diverse proclivities, courtesy of extra features, including a crypto debit card.
  • In addition, the mobile app gives users the ability to explore their NFTs and GameFi apps (among others).
  • Overall, OKX is a comprehensive and innovative crypto exchange that caters to the needs of traders and crypto enthusiasts.
  • More experienced traders may want to build their own investment bot, in addition to copying pre-built ones.
  • OKEx has a dedicated service that helps users make gains from new crypto projects with their Jumpstart platform.
  • The content on this website includes links to our partners and we may receive compensation when you sign up, at no cost to you.

This app allows trading on all markets at OKX, including their futures and spot markets and margin trading. In addition, the mobile app gives users the ability to explore their NFTs and GameFi apps (among others). Overall, OKX is a comprehensive and innovative crypto exchange that caters to the needs of traders and crypto enthusiasts.

How much is OKX?

OKX is run by a team of financial advisors, industry trading experts and IT professionals with their CEO Mr. Jay Hao, who was a game developer in the past. To reach level two, you’ll have to provide ID, a photograph, proof of address and the initial dollar value you plan to invest. It’s hard to give up so much information, but nobody ever said crypto was anonymous to begin with.

This is unfortunate, as OKX is one of few exchanges that offer such a wide selection of tokens and crypto mining options. Fees for cryptocurrency trading depend on the tier at which you trade. Those with more assets and higher volumes will generally have access to lower investment fees. Taker fees are usually larger than maker fees as they involve the removal of liquidity from the market. The OKB token is the native utility token of the OKX ecosystem, offering users a plethora of benefits and powering various on-chain activities.

Binance vs. OKX: Products Offered

As an ERC-20 token on the Ethereum mainnet, OKB has a capped supply of 300 million units. OKB holders enjoy trading fee discounts, with up to a 40% reduction based okex review on the amount of OKB held. The token also grants access to OKX Jumpstart, a platform that unveils new, quality crypto projects, allowing users to invest using OKB.

On the other side, there have been several issues surrounding the platform founder and other backers of the exchange, particularly from China. This includes multiple arrests with the most recent of Xu being at the end of 2020 amid fraud accusations which led to a temporary suspension of account withdrawals on the platform. There have also been previous reports of system hacks and loss of crypto from several users. OKX (Formerly OKEx) is a cryptocurrency exchange that was founded in 2017 by Hong Kong-based Xu Mingxing. The company still retains offices in Hong Kong but is now headquartered in Malta due to the nation’s favorable approach to crypto regulation.

How To Trade On OKX

The exchange was originally based in Beijing, but when China began to ban crypto trading in 2021, OKX closed its Chinese offices and moved out. Its parent company also owns Okcoin, a smaller exchange based in San https://www.tokenexus.com/derivatives-in-crypto/ Francisco. OKX is unavailable in the U.S. and Canada, and comes with its share of problems. However, there are also good points, like its friendly spot trading interface and wealth of resources for beginners.

  • In short, both OKX and Binance are suitable for any skill level, type, or size of trader.
  • Both Binance and OKX also set aside a significant amount of profits to build up a protection fund to reimburse customers in the unlikely event of a security breach resulting in loss of funds.
  • However, it would be nice to see the company offer withdrawal and IP address whitelisting, as this could help prevent phishing attacks.
  • You can contact them via phone, email, and different social media platforms.
  • Similar to the web-based version, the application is intuitive and doesn’t make you regret your life and exchange choices.
  • OKX is a cryptocurrency company offering a crypto exchange and a suite of additional services.

Traders should approach these with caution, particularly if using leverage. Make use of the technical analysis and charting tools on the trading platform to better understand any trends or patterns for a particular asset. When opening a position, advanced order types are available, including regular stop orders, trailing stops, triggers orders and advanced limit orders to ensure you sell the crypto at the right time.

At OKX, you can do more with your holdings than just buy and sell crypto. If you have relevant tokens, you can leverage them to maximize gains, courtesy of the simple earn plan and on-chain earning options like staking. While decentralized exchanges like dYdX and Uniswap are worth considering if you aren’t keen on KYC and identity verification, centralized exchanges can’t be beaten regarding usability and familiarity. This detailed, 360-degree OKX review dives into the features, functions, pros, and cons of the leading crypto exchange. If you go to the assets tab, you’ll be able to see the deposit section where you can send from your wallet to the exchange.

  • Binance and OKX are incredibly competitive in the “who has lower fees” game, leading the exchange industry with absolute rock-bottom fees.
  • Traders have come to appreciate the flawless trading experience on OKX, with its nearly instantaneous trade execution and second-to-none matching and trading engine.
  • As one of the biggest exchanges in terms of trading volume, OKEx is known as a ‘one-stop marketplace’ for cryptocurrency.
  • The trading fees for Spot, Futures, and Perpetual Swaps are different.
  • However, you will need to complete the exchange’s KYC processes if you want to make transactions exceeding 200 BTC daily.
  • OKX is available to mobile device users natively via Android and iOS applications.

Let’s take a deeper dive in this OKX review and learn more about this exchange. You are also welcome to leave your own review at the end of this article. OKX comes with a set of gamified tutorials for new users, who can complete “learning missions” to earn small amounts of bitcoin. Those looking to hone their skills can engage in demo trading, which lets them practice the mechanics of crypto trading using fake money.

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Cryptocurrency exchange

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Digifinex Review

Founded in 2014, DigiFinex is primarily focused on the Asian market but welcomes customers from over 150 countries around the world. That user base has helped it catapult into one of the leading exchange platforms, so it provides high liquidity and trading volumes on all the assets it provides. Theta was launched by Mitch Liu and Jieyi Long in 2018 following a $20 million private token sale. The project is to build a decentralised video streaming platform powered by a global network of computers that rewards users with tokens.

Uphold is a cryptocurrency trading app that allows users to buy, trade and transfer digital assets including 230+ crypto tokens. The app’s trading environment also allows crypto staking, trading between various company stocks, and provides users with a debit card that provides rewards and easy multi-currency payments. Digifinex is currently one of the world’s leading platforms for trading. They are offering many cryptocurrencies which makes trading more efficient and transparent.

Learn how to buy GALA (GALA) on 7+ crypto exchanges in our step-by-step guide.

The way the cryptocurrency market is paving its way we are hoping to see only the big names of exchanges in the future. There are surely new exchanges that are launching to offer new services to its users and sustaining new customers. It seems like the evolution is going to change in 2020 for the crypto exchanges. A crypto exchange is a trading platform that allows users to buy and sell digital assets in a peer-to-peer manner, which means there is no third party involved. For instance, users can buy cryptocurrencies for fiat money and then trade them.

Is DigiFinex a good exchange?

The renowned crypto price-tracking website, CoinMarketCap gives an average liquidity score of 447 out of 1,000 to DigiFinex. This means there is more significant slippage and, thus, higher spread fees when investors place large spot orders.

Keep in mind that DigiFinex makes use of its Wire Program, Coinify, and Simplex to help facilitate transfers. The Wire Program sets limits for bank wire transfers Digifinex Review of $500-$40,000 per day with no DigiFinex fee. Theta allows its global network to monetise their spare bandwidth and computing power by relaying videos.

Crypto Lists – Crypto Done Smarter

With 70+ cryptocurrencies available to trade via CFDs with no commissions or overnight swap fees, Libertex is a great option for crypto traders. The tokens include the usual major players like Bitcoin and a good variety of lesser-known cryptos such as Tezos. ND Labs is an international company that offers blockchain consulting and development services. They build blockchain-powered solutions for businesses of all sizes from various industries, such as logistics, real estate, insurance, etc. The company’s team consists of experienced blockchain professionals who focus on strategic outcomes and help clients generate long-term profits. Find an exchange to buy, sell and trade GALA by comparing deposit methods, supported fiat currencies and fees.

Digifinex Review

This allows you to enjoy your winnings without adversely affecting the platform’s fee structure. 1xBit also provides educational blogs on crypto gambling to help you get started with the necessary tips to navigate the field. Instead, you can utilize these currencies directly, allowing you to maximize their value without losing any of it to conversion fees.

DigiFinex Gets Canada Approval: Crypto Exchange Allowed to Operate

Eightcap offers over 100 crypto-backed derivatives, more than many rivals. Bitcoin spreads are also lower than most brokers coming in at 12, while the market scanner is a unique and powerful trading aid. Additionally, 1xBit offers users a Welcome Bonus of up to 7 BTC following their first 4 deposits – it gives you the required jumpstart to experience the platform and play your favorite games. FESSChain Is an AI operated and Proof of Proof based blockchain that uses Volume Oriented fragmentation version 1.0 to settle data into the blockchain. It is unique in many terms and one of them is its data processing and storage supported by Neutrino Framework.

Digifinex Review

The token is not available on popular platforms such as Coinbase, Kraken or eToro. Theta is one of the leading cryptocurrency projects with a market cap of over $11 billion. It’s looking to revolutionise the extremely lucrative video streaming industry and has powerful partners such as Lionsgate, Sony, Google and Samsung. This puts Theta in a much better position than similar projects such as LivePeer.

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it’s a good idea to have those ready. The Transfer Token for the TTT has been applied for various token.

Read on this review to learn more about it and whether you should sign up for the platform. Buy and sell 250+ crypto assets with fiat currencies or in crypto pairs using a straightforward mobile app or through Uphold’s browser-based account homepage. https://www.tokenexus.com/xrp/ Uphold clients can also earn up to 13% APY by staking one or more out of 32 valid tokens, or send their tokens to an external wallet. TTT can be used like any other token for trading in various currency swaps and also in exchange for fiat currency.