Users can participate in campaigns by staking their OKB tokens and receiving the tokens from new projects based on the user’s staked amounts. If you struggle with any of these order types, you can always check out the OKX derivative docs. Okay, that sums up the trading features of OKX; let’s look at what else the platform has to offer.
OKX Review 2024: Pros, Cons and How it Compares
We have an extensive guide on cryptocurrency options which you can read if you want more information. But the key thing to note is that you have a limited downside risk and an unlimited upside potential when you buy an option. Futures are instruments whereby you agree to buy or sell some asset in the future at some predetermined time. These futures contracts are an obligation to buy/sell, which differs from options. According to Glassnode, Proof of Reserves (PoR) displays the assets held on-chain and matching liabilities held both on and off-chain.
- OKX NFT Launchpad pushes quality NFT projects to the marketplace while the secondary market shares information on the rarity of ranks and allows bulk buying of NFTs.
- To make sure that OKEx support is actually helpful, I analyzed a number of user OKEx exchange reviews, as well as contacted them myself.
- Not only does it have the advantage of being backed by one of the largest trading platforms in the world, but it is also really well-designed.
- It’s also important to note that certain cryptocurrencies may not be available for trading on OKX due to regulatory considerations or market demand variations by location.
- As such, OKX’s platform makes it easy for customers to find profitable Leaders and offers peace of mind via historical evidence.
Customer Support and Service
You can put your tokens into high-yield savings accounts that OKX uses to loan out money, just like a normal bank. It’s essentially a smaller-scale, crypto-friendly version of a managed fund, with the caveat that no investor can guarantee returns that beat the market. Copy trading is a nice way to demystify crypto exchanges, but in the end, you’re putting your investment funds into the hands of a stranger. The only part of this that’s actually a user interface is the purchasing menu at the bottom. When a user submits a bid that can’t be filled right away, they add liquidity and pay lower fees as a maker. If a user places an immediate order at the current market price, they’re a taker and must pay more to compensate for the liquidity they’re removing.
Flexible lending options
The answers were underwhelming and frequently included links to pages that were unavailable in my region or provided incomplete information. It would be more effective if the international support team on social media asked for the user’s location to provide more relevant assistance. OKX’s customer service leaves much to be desired, as no live support staff is available. Users can only reach out via email or an AI chatbot (available in 13 languages) that redirects to over 292 FAQs. They don’t offer account managers or personalized services for high-volume clients, either. Aside from a few exceptions, such as AXS and others that charge upwards of a 40% annual interest percentage rate, the standard borrowing fees for almost all assets is set at 1% for crypto assets.
Bitcoin (BTC) News Today: US Economic Data and BTC-Spot ETF Trends in Focus
It supports various fiat currencies catering to international users, including USD, EUR, AUD, GBP, and INR. The exchange provides diverse cryptocurrency pairs based on location plus a launchpad for new tokens. On CoinMarketCap’s okex review liquidity ranking, OKX ranks 3rd, only behind Binance and Coinbase. 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.
OKX Review Scores
- I also need to give the OKX team kudos as they have placed a strong emphasis on crypto education through their fantastic educational section- the OKX Academy.
- OKX offers over 350 cryptocurrencies for trade, though only about 40 are available in the UK.
- We tested it by coming in with a typical problem — how to deposit crypto from another wallet — and took some time to find the article.
- With support for over 200 cryptocurrencies and advanced trading features, it caters to a diverse global user base, inclusive of both novice and advanced traders.
- Functionality and the number of supported coins wouldn’t mean anything without security.
- My testing confirms that OKX is one of the best crypto exchanges on the market for competitive fees.
Crypto is highly volatile and prone to steep crashes that can wipe out your savings. The risk is even greater if you delve into margin trading (which the OKX exchange permits). Before putting any money into a cryptocurrency exchange, make sure you https://www.tokenexus.com/ have a safety net and an exit plan. OKX breaks currencies down into different pricing tiers that vary based on trade volume and account holdings. High-volume traders and those with a large holding in the OKB currency may qualify for discounts.
Exchange Commission And Fees
Members of a trader’s entourage can automatically execute the same trades they do, while the lead trader gets 10% of the profits. At the simplest level, you can buy crypto and withdraw it as fiat with a sleek, smooth interface. To buy more complex assets, you’ll have to wade through some deeper thickets, but none that should seriously trip up an intermediate trader. Samuel Chapman, a writer and editor at Cloudwards, possesses over four years of experience specializing in online security, privacy and cryptocurrency.