OKX review 2024: Pros, cons, fees & more

okex review

Binance and OKX are the two leaders among exchanges that offer an “all-in-one” platform for everything crypto. The evolution of crypto exchanges has led to the creation of some of the most technologically advanced platforms and some truly impressive innovations in the crypto space. Two of the leading exchanges in innovation are undoubtedly Binance and OKX, which is why we are excited to be bringing this Binance vs. OKX review to you today. Binance is described as the largest cryptocurrency exchange, with a massive user base and a wide range of products catering to different types of crypto users.

okex review

We write product reviews and comparison articles in the field of cryptocurrency. We are not a financial advisor and the content on this website is not financial advice. All information on this website is informative and not a recommendation to buy or sell anything. Consult an expert when making financial decisions and only invest money you can afford. You can tell that an article is fact checked with the Facts checked by symbol, and you can also see which Cloudwards.net team member personally verified the facts within the article.

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For example, you only have Bitcoin options to trade at the moment. There is also relatively limited liquidity for the options market, especially out-of-the-money ones. OKX has a fantastic selection of pre-made and useable bots ready to put your trading on autopilot and trade around the clock for you. OKX has one of the best platforms for auto-trading enthusiasts, but we won’t go into detail about it here as we have a dedicated OKX Bot Review where we do a deep dive.

The exchange offers one of the more seamless on-ramping experiences, making it highly beginner-friendly. This largest global cryptocurrency offers at least 50+ more assets compared to OKX. 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.

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Both OKX and Binance offer Polkadot parachain slot auctions, which is great for fans of the Polkadot Ecosystem, while OKX also offers Kusama slot auctions. The Binance Launchpad remains the best-performing CEX launchpad with many investors enjoying high ROIs from some of the most promising project launches in the industry. Though OKX fees are a fraction of a percentage lower, I do actually have to tip the win to Binance for okex review a couple of reasons. Further on in the review, we’ll take a closer look at each exchange individually, but first, we want to give you an overview of our findings by comparing OKX versus Binance. To burn the 300 million circulating supply of OKB, OKX (Previously OKEx) has started a buy-back scheme that occurs after every three months. This is a positive way to drive up the price of the token by reducing the supply amount.

You likely won’t recover any funds if you accidentally send funds to the wrong wallet address. Cryptoassets are highly volatile unregulated investment products. OKEx uses a buy-back scheme to slowly burn the 300 million circulating supply of OKB tokens every 3 months. This is done to drive up the token price by reducing the quantity of the tokens available publicly. You can check the exchange’s complete list of supported coins on the exchange’s Markets page.

OKX Review: Robust Trading Suite for Cryptos, Derivatives, Staking, and Lending

And is licensed by several authoritative bodies, including Dubai Virtual Assets Regulatory Authority. However, OKX is not regulated by more prominent bodies like the FCA or AUSTRAC at the time of writing. OKX is a digital asset trading platform with tools and options designed to suit both beginner and experienced traders. Even though OKX is one of the more secure cryptocurrency trading platforms around, Kraken has a superior reputation in this field. According to Certified — a company analyzing exchange security — Kraken is placed second in exchange security, while OKX is around the 40th place. OKX also boasts 236 derivatives markets, with a combined 24-hour trading volume of over $13 billion, second only to Binance.

These are basically the factors that determine the option price sensitivity. We won’t go into the specifics of the Greeks here, but Guy did a complete video on that. Using the Options Discovery tool will also draw you out a neat payoff diagram where you can see the profit/loss that will incur for said option.

OKX vs Binance Fees

If a platform advertises zero fee trading then beware that they may charge a spread instead. Notably, the charges are lower for VIP users — those with high OKB token holdings and 30-day trading volumes. You just need to register your email ID and mobile number to get started.

There is always a risk with investing in cryptocurrency but OKX appears a legitimate exchange with a large trading volume and lots of returning customers. The maker and taker fees for the futures and perpetual markets start at 0.02% and 0.05%, respectively, similar to other popular margin trading platforms we’ve reviewed such as Bybit and Huobi Futures. For anyone with over https://www.tokenexus.com/understanding-hard-forks-in-cryptocurrency/ $50 million in monthly trading volume, these fees can be reduced in line with their OKB token holdings. OKEx is one of the most popular cryptocurrency exchanges and derivatives trading platforms in the crypto industry. The platform has become famous for its low fees and ease of use, especially for investors who might not have excess capital to conduct their trades.

Can you also buy and sell crypto at OKX?

The customer support is impressive, and users can communicate in various ways. Finally, OKX is also a secure platform with no records of severe hacks. OKX also supports peer-to-peer trading, in which users can buy and sell crypto directly in exchange for fiat, without going through the spot market. This lets you dodge trading fees, but you’re limited to the trades currently on offer — and OKX’s P2P trade volume is low.

okex review


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