OKX, a cryptocurrency exchange catering to diverse investors, stands out among competitors due to its low trading fees. The platform supports trading for over 320 cryptocurrencies, placing it on par with other leading exchanges. Additionally, it integrates more than 77 blockchains and provides seamless access to DeFi applications.
But is OKX reliable, and what makes it a potential contender among top crypto exchanges? Let’s explore the answers to these questions in this detailed review.
Pros and Cons of OKX Crypto Exchange
Pros
- Low Trading Fees: Competitive fees for spot and futures trading.
- Diverse Services: Access to 350+ cryptocurrencies.
- High Leverage: Up to 100x leverage for futures and 10x for spot trading.
- Advanced Security: Cold wallets, anti-phishing measures, and 2FA.
Cons
- Mandatory KYC: Strict identity verification requirements.
- Regional Restrictions: Not available in the U.S. and Canada.
- Complex Fiat Withdrawals: Challenges with USD/GBP withdrawals.
- Limited Educational Resources: Fewer beginner-friendly guides.
What Is OKX Exchange?
Launched in 2017, OKX offers Web3 services globally, with offices in Hong Kong, Singapore, the UAE, and other locations. Its demo feature helps users familiarize themselves with the platform quickly, making it suitable for both beginners and experienced traders. OKX TR refers to its services tailored for Turkish users.
The exchange also gains traction through staking rewards and airdrop events, enabling users to earn passive income.
Supported Cryptocurrencies on OKX
OKX lists 350+ tokens, including major ones like Bitcoin, Ethereum, Solana, and Polygon, alongside DeFi tokens. The Turkish platform (OKX TR) supports 730+ spot trading pairs, 280+ contracts, and 1,000+ options.
How to Use OKX?
Step-by-Step Account Setup
- Access OKX: Visit the website or download the mobile app.
- Register: Sign up via email/phone and set a strong password.
- Complete KYC: Upload ID documents for verification.
- Deposit Funds: Transfer crypto or fiat to start trading.
OKX Trading Fees
| Trading Pair | Order Type | Fee (%) |
|---|---|---|
| USDT | Limit | 0.08 |
| USDC/BTC/ETH | Limit | 0.05 |
| USDC/BTC/ETH | Market | 0.07 |
Fees are lower than Binance and Coinbase, making OKX a cost-effective choice.
Social Crypto and Copy Trading
- Social Crypto: Share strategies and follow expert traders.
- Copy Trading: Mirror top traders’ moves automatically.
OKX Wallet Guide
The multi-chain OKX Wallet allows secure storage and transfers across blockchains. Enable 2FA and backup seed phrases for safety.
Exchange Comparisons
OKX vs. Coinbase
| Feature | OKX | Coinbase |
|---|---|---|
| Cryptos Supported | 350+ | 150+ |
| Futures Trading | ✅ | ✅ |
OKX vs. Binance
| Feature | OKX | Binance |
|---|---|---|
| Cryptos Supported | 350+ | 350+ |
Security: Is OKX Safe?
Yes. OKX employs cold wallets, 2FA, and encryption. Users must enable these features for optimal security.
FAQs
1. Who owns OKX?
Founded in 2017 by Star Xu, headquartered in Hong Kong.
2. Is OKX legal in Turkey?
Yes, but stay updated on local regulations.
3. How to withdraw from OKX?
Complete 2FA verification under "Assets" > "Withdraw."
4. What is OKX P2P?
Peer-to-peer trading with user-set prices.
Disclaimer: This content is for informational purposes only and not investment advice.