If you are a level 1 regular user, you can withdraw a maximum of 500 BTC every 24 hours. On the other hand, the VIP7 traders can withdraw up to 2,000 BTC every 24 hours. Like futures, they only allow it for Tether against some specific coins like Bitcoin and Ethereum. A cryptocurrency and trading writer and investor, Patrick specialises in algorithmic trading. He’s written about every type of automated trading tools – from cryptocurrency robots, binary option robots, down to robo advisors. Then, select one of the OKEx-supported fiat currencies and set the amount of which you wish to buy a specified crypto coin.

OKX Review Verdict

The other 5% of funds are kept with their servers in a “hot” environment to meet the demand for withdrawals/deposits. In 2022, the exchange went through a facelift and overhaul, rebranding from OKEX to simply OKX. Dropping the “E” that stood for “exchange” was their way of saying that they are so much more than just a crypto exchange.

• OKX supports hundreds of tokens and coin pairs on its trading site to buy, sell, or trade using leverage or your own on-chain portfolio.
• This is flexible as you can deposit and withdraw your assets at any time.
• The return from liquidity mining can be much higher than that of staking.
• Although live chat is the most convenient option, sending a support ticket is also an option through the platform or via email.
• Thus, it’s a great platform to trade both popular and little-known cryptocurrencies, altcoins, and stablecoins.
• Yes, OKEx offers the OK Vault multi-currency wallet that allows users to store mainstream and ERC20 tokens.

OKX Review Features

• For example, if you are a regular user engaging in spot trading, you will get charged 0.10% for takers and 0.08% for makers.
• You might still get some small charges from the payment method you are using when you deposit funds.
• They came back saying ”unacceptable proof” and giving me every type of excuse which was not valid, while everything I uploaded was up to date.
• The token also grants access to OKX Jumpstart, a platform that unveils new, quality crypto projects, allowing users to invest using OKB.
• In the wide world of cryptocurrency exchanges, OKX stands out thanks to a wide variety of features like spot and trading, perpetual swap contracts, futures, options, and even DEX trading.

However, due to its slow customer support, those considering OKX who are looking for efficient, tailored assistance should consider another option. In early 2018, Like the other Chinese exchanges, OKX (Previously OKEx) also launched their utility token cryptocurrency. Users can use this token to settle trading fees or to pay for exclusive services like enhanced API rate limits and customer support on the exchange platform.

Can US Citizens Use OKX?

However, if the market goes the other way, the trader loses double what was leveraged. The OKEx exchange boasts highly robust futures contracts that prevent traders from buying and settling coins. Futures are always welcomed by professional crypto traders as they offer even more opportunities for making a profit. OKEx offers crypto trading services to more than 100 countries around the world.

Worst customer service dont use this app

While still not the cheapest platform to use, OKEx maintains what many traders agree are more industry-standard fees. Like most platforms, they have varying fees for their spot and futures markets. OKEx provides easy-to-follow directions on how to set up a desktop trading platform.

Deciding whether OKX is better than Coinbase depends on individual needs and preferences. OKX offers a wide range of cryptocurrencies and advanced trading features suitable for experienced traders. Its low trading fees and diverse financial products, such as futures and options trading, are appealing to those looking for more sophisticated trading tools. Ultimately, the choice between OKX and Coinbase hinges on your trading experience, preferred features, and security concerns. Regularly featuring among the top 10 global exchanges by 24-hour trade volume, OKX offers fiat-to-crypto and crypto-to-crypto trading on more than 100 digital currencies.

• Once logged in, you can view account balance and access features for spot, futures, options, and other trading needs.
• Essentially, it provides you, as the contract holder, the ‘option’ to decide whether the trade will benefit you or not.
• For a deeper dive into user sentiment on OKX’s customer support, check out OKX reviews on Trustpilot.
• OKX also has a peer-to-peer (P2P) trading service that connects buyers and sellers of crypto currency directly.
• This platform’s trading services and digital assets comply with the Virtual Financial Asset Act (“VFAA”) and are regulated under the authority of the Malta Financial Services Authority.
• Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us.

Options are tradeable contracts that promise traders limited risks and endless potential for making profits. However, there is more to it than this, but OKEx provides some good information on what they are all about to ensure you make an informed decision before jumping into options. In this market, the traders leverage the market to go a certain way, and if they are correct, they multiply their funds. OKEx is a crypto exchange platform that has been in operation for quite some time now.

From the home page, you can select “Basic Trading,” which allows for spot and simple option trading. Under the “Learn” section of OKX’s website, you can access dozens of beginner tutorials and videos to help you get started. https://www.tokenexus.com/ OKX also provides timely articles, industry analysis, and the opportunity to become an OKX broker. OKX, initially headquartered in Beijing, China, has expanded globally and is now headquartered in the Seychelles.