Remarkably, 98% of these assets are ‘clean’, amounting to $15.02 billion, showcasing a transparent and reliable asset base. Because the Cloudwards.net team is committed to delivering accurate content, we implemented an 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. Most information you’ll likely need to know is listed in a robust help center with details about using, updating, and maintaining your account. Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction details before proceeding. You likely won’t recover any funds if you accidentally send funds to the wrong wallet address.
Crypto-Backed Loans
Withdrawing crypto is unavailable in some regions, which might put off some new users. Despite this, OKX offers a fast and functional trading experience with minimal fees, making it a solid choice for professional traders. Once the bank account is created, users can choose to buy cryptocurrency with one of the supported fiat currencies using their credit or debit card, or deposit and buy crypto. The platform also inquires about users’ previous trading experience, potentially customizing the user interface and features according to the user’s level of expertise. This OKX review has painted a nuanced picture of this cryptocurrency exchange, highlighting its strengths in low fees, diverse features, and advanced trading options. However, navigating its interface might prove cumbersome for beginners, and its lack of fiat on-ramps in some regions remains a hurdle.
Deposit & Withdrawal Fees
As a super merchant for almost a year and a regular customer for two years , I’m satisfied. Because I took 2 hours to reply to their questions they imposed extra verification requirements. They have frozen my account with £1600 in it and I have no idea how to unfreeze it. I asked for help with the verification process but they said this is not a service they offer. I have had a few times where they delist a token on their platform. They do not send you any email or communication so if you dont log-in for a couple months the tokens are delisted AND they can become unwithdrawable.
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It also offers market maker and taker fees starting from 0.15% and 0.2% respectively, with discounted fees for high-volume traders. Traders do not have to worry about liquidity as OKEx is easily among the top cryptocurrency exchanges in the world when it comes to trading volume. In addition, the platform features a Jumpstart platform, allowing users to gain access to promising new blockchain projects via Initial Exchange Offerings (IEOs). Last okex review but not least, OXX allows users to expand their digital holdings’ use case with a wide range of Earn products and crypto-collateralized loans. OKX, founded in 2017 by Star Xu (@star_okx), is a globally recognized cryptocurrency exchange now based in Seychelles. The platform offers a wide array of services, including spot trading for over 320 cryptocurrencies and derivatives contracts such as futures and options with up to 100x leverage.
No, OKX does not offer its services to U.S. citizens due to their strict internal regulations outside the exchange’s control. Therefore, investors will need to find a licensed trading platform in the USA to invest in cryptocurrency. OKEx is a safe cryptocurrency exchange as they use the most advanced encryption technology to secure its platform from hackers. https://www.tokenexus.com/ While cryptocurrency exchange regulations are still in their infancy, OKEx efforts to get a regulatory framework in Malta and in other parts of the world. The exchange has never been hacked and overall, it is considered one of the safest cryptocurrency exchanges in the market. As for futures and options trading, taker fees range from 0.03% to 0.05%.
- If you are using a bank wire, you can use Banxa, which offers SEPA and SWIFT banking services.
- On OKX, once a block has been solved, the rewards will be split up among mining pool members according to how much computing power each contributed.
- This feature, along with the OKX mobile app, could be particularly useful for newcomers to the crypto trading world.
- Most of your OKX account needs will be self-service—plan to handle your trading and account updates yourself.
- Next, there’s something called “Shark Fin,” a uniquely bizarre offering.
- It’s one of the cheapest crypto exchanges out there – which is a big deal as fees can seriously add up and affect your profit when trading.
Customer support
OKX Review: Conclusion
- 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.
- However, there are limitations on applicable lending amounts based on asset and market conditions.
- According to Glassnode, Proof of Reserves (PoR) displays the assets held on-chain and matching liabilities held both on and off-chain.
- But due to the size of securities needed to facilitate the volume required to become a market maker, the majority of crypto investors are market takers.
- After verifying their OKX account with a 6-digit PIN, users must fund it.
- We created a unique trading test to evaluate the quality of customer services for diverse user needs.