Okex Exchange Review: Is Okex Exchange The Best Cryptocurrency Exchange?
Okex is one of the largest cryptocurrency exchanges in the world. You’re new to crypto and have heard that it has huge potential, but you don’t know where to start. There is a lot of information to take in before you can start trading cryptocurrency. Cryptocurrency exchanges are the new hot spot for investing. Okex Exchange Review will review everything from fees and customer support, to security and how it compares with other leading crypto-exchanges like Binance.
Features of OKEx Exchange
- Easy to use interface
- Wide selection of trading assets
- Low fee structure
- Robust security measures
- Excellent customer service
Okex Exchange Review 2022
OKEx is a cryptocurrency exchange that was founded in 2014. It is currently the largest spot and derivatives exchange in the world, as well as 4th in terms of trading volume. The CEO of OKEx, Star Xu, has a profound interest and expertise in game development before joining the cryptocurrency trading platform. Okex Exchange was founded in Hong Kong. However, it soon expanded to Malta due to the favourable environment for blockchain companies in Malta. Additionally, Longling Capital and eLong have both invested in this exchange. Okex Exchange has been operational for a few years now and has built up a good reputation.
Cryptocurrencies Available on OKEx
OKEx offers a wide variety of cryptocurrencies for users to trade. Out of the 325 available, Bitcoin is the most popular by far. The exchange is constantly updating its offerings to meet the needs of its traders. OKEx supports a large number of the most popular cryptocurrencies, with more than 30 coins available for trading. There are no fees associated with depositing funds on OKEx, and the platform has high liquidity and volume. Over 20 million traders use the exchange each day, and 1 billion BTC futures are traded on OKEx every day.
OKEx offers a conversion form for people looking to swap currencies. The trading form is simple and easy to use for beginners, but also includes features that are useful for advanced traders. Additionally, OKEx has an active trading platform that provides real-time data and charts so you can make informed decisions about your trades.
OKEx offers some of the most competitive pricing that we’ve seen. The fees are tiered based on your average 30-day trading volume. Low volume accounts will pay a 0.15% maker fee and a 0.2 taker fee. Okex Exchange offers a wide range of services and products for active traders. The fees are updated on a daily basis and a transparent pricing chart is available on the website so that you can understand exactly what you’ll pay across the broker’s products and tokens, from USDT withdrawal fees to historical perpetual swap funding rates.
OKEx is a regulated financial institution that has never been hacked. They use advanced security measures, including 2-factor authentication and mobile verification codes. Cryptocurrency exchanges are a prime target for hackers, as they hold large sums of money. As such, it is important to take proper precautions to secure your account. This includes using strong passwords and verifying your identity with mobile verification codes.
OKEx has received mixed feedback on customer review sites. Positive reviews focus on an easy online experience, fast transitions, and low fees. Negative reviews mention poor customer service, lost funds, and slow withdrawals. At Trustpilot, a website that allows customers to review businesses, OKEx has received an average 3.5-star rating out of five across over 250 reviews. Many users complain about the customer service and how they were unable to withdraw their money from the exchange. Despite this, OKEx remains one of the most popular cryptocurrency exchanges in the world.
Users can log into their account on the OKEx website or through the OKEx mobile app. The website has a larger screen, which some users may find easier to navigate. The mobile app gives users access to the same account details as the website.
You’ll also have opportunities to earn cryptocurrency and withdraw or send it to an outside wallet. OKEx is a web-based platform that allows users to buy, sell, and trade crypto, as well as stake crypto, to earn interest and join miner pools to earn crypto rewards. Users can log into their account using a web browser and easily deposit funds and start buying crypto. The OKex mobile app offers nearly the same advanced charting and trading tools as its web-based platform. In addition, users in countries that are not supported by OKex (such as the U.S.) will be re-routed to OKCoin if it is available. This ensures that all users have access to the same quality trading tools and experience.
Other OKEx Advanced Financial Services
OKEx Pool is a mining pool that supports PoW mining of 9 major cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Dogecoin. Members can earn an additional income by joining the pool and offering their hash rate. In addition to OKEx’s world-class cryptocurrency trading services, the company also offers tutorials on how to join a miner pool and start mining cryptocurrencies. This gives users a one-stop solution for all their cryptocurrency needs.
Algo-orders are a special type of order that is used primarily by day traders. There are a variety of different types of algo orders, but some of the most common ones include limit market orders, stop-limit orders, advanced limit orders, icebergs, trailing top orders, and TWAP or time-weighted average price orders. Algo-orders allow users to trade more efficiently and effectively and can be very vital for active traders. OKEx offers its registered users a variety of different types of algo orders to choose from.
How OKEx Compares to Other Cryptocurrency Companies
OKEx is a cryptocurrency exchange that offers many of the same features as other large competitors, such as Coinbase and Binance. One thing that makes OKEx unique is that it is available to users in over 200 countries. However, it is not available in the United States. On the one hand, Coinbase is available to users in over 100 countries, including the U.S. OKEx supports 325 currencies while Coinbase only supports 141. Furthermore, OKEx publishes its trading fees clearly on its website while Coinbase hides prices until you enter a trade. This could be seen as advantageous for OKEx as it is more transparent about its services than Coinbase.
While OKEx doesn’t publish its deposit and withdrawal pricing, this could be due to the company obscuring costs somewhat. It’s difficult to make a direct comparison between OKEx and other cryptocurrency companies because of this lack of transparency.
How to Open an OKEx Exchange Account
To use OKEx, you need to create an account. The user interface is simple, interactive, and straightforward. It’s easy to navigate and makes trading quick and easy. To open an OKEx Exchange account, you first need to go to the website and click on “Register” at the top right corner of the screen. Once you have registered and logged in, you will be taken to your Account Overview page. From here, you can deposit funds into your account by clicking on Deposit Funds and selecting the currency you wish to use.
SEE ALSO: Coinbase Review
Is OKEx commission-free?
Yes, OKEx offers a commission-free trading environment for users. They offer a variety of payment methods, including cryptocurrency to cryptocurrency only. OKEx offers commission-free trading for all spot products and margin products. You can trade on OKEx through our desktop or mobile applications.
Can US citizens use OKEx exchange?
US citizens are not allowed to use OKEx because it is based in Hong Kong and falls under their jurisdiction. There are a few workarounds that US citizens can use, such as using a VPN or an offshore account. However, there are several leading US exchanges that offer similar services.
Is OKEx regulated?
OKEx is a regulated cryptocurrency exchange that is registered in Malta and Hong Kong. The company is compliant with the Virtual Financial Asset Act (VFAA), which is a regulated authority by the Malta Financial Services Authority. While rumours have circled the internet of a possible hack, the exchange claims that it has never lost investor funds.
On the security side, OKEx’s token security is built on a core private key encryption algorithm and industry-standard cold and hot wallet technology. In addition, Malta Financial Services (VFAA) is a regulated authority that oversees the operations of OKEx. That said, there are risks associated with trading on the platform and users should be aware of these before signing up.