OKX Exchange Overview
OKX (formerly OKEx) is a Seychelles-registered cryptocurrency exchange founded in 2017 by Star Xu. With 50 million users across 180+ countries, it consistently ranks among the top 3 derivatives trading platforms by volume according to CoinMarketCap.
👉 Discover OKX's security features
Key Milestones:
- 2017: Launched as international-focused OKEx
- 2022: Rebranded to OKX, expanding beyond exchange services
- Present: Operates NFT marketplace, DEX, and Web3 wallet solutions
Founder Profile: Star Xu
Background:
- Born 1985, tech entrepreneur since early career
- Former developer at Alibaba and Yahoo
- Founded OKCoin (2013), China's then-leading Bitcoin exchange
Vision:
Xu positioned OKX as infrastructure for crypto ecosystems rather than just a trading platform, evidenced by their Web3 wallet integration and decentralized services.
Security Measures
Asset Protection Protocols
- Cold/Hot Wallet Separation
Offline-generated private keys with multi-signature requirements - Proof of Reserves
Monthly verifiable 1:1 asset backing since November 2022 - Real-Time Monitoring
Public blockchain data tracks BTC/ETH/stablecoin movements
Why reserves matter: The FTX collapse demonstrated how exchanges without proper auditing could create fictitious balances during normal operations, only exposed during mass withdrawals.
Platform Features
Trading Services
- Spot & Derivatives: Competitive liquidity for trending coins (e.g., early PEPE listing)
- Jumpstart Launchpad: OKB holders access new token sales
Web3 Integration
- Unified interface for centralized exchange and self-custody wallet
- Supports DeFi staking, NFT trading, and dApp interactions
Yield Products
| Product | Special Offer |
|---|---|
| Stablecoins | 10% APY on first 1,000 USDT |
| ETH Staking | Simplified validator access |
Fee Structure
Standard Rates:
- Spot: 0.08% Maker / 0.10% Taker
- Contracts: 0.02% Maker / 0.05% Taker
Discounts:
- Level 1-5: Based on OKB holdings
- VIP 1-8: For high-volume traders (>$10M monthly)
Pro Tip: Use limit orders to qualify for lower Maker fees.
FAQ
Q: Is OKX trustworthy for long-term holdings?
A: Their 6-year operational history, regular audits, and cold storage practices make it among the more reliable options, though diversification across exchanges/wallets is advised.
Q: How does OKX compare to Binance?
A: While smaller in overall volume, OKX often lists emerging tokens faster and provides stronger Web3 wallet integration.
Q: What happens if China bans crypto again?
A: OKX already transitioned to international markets after 2017 restrictions, minimizing country-specific risks.