OKX Review 2024 Should You Use It

okex review

Exchanges often offer demo accounts that use fake prices or are funded with smaller amounts (e.g., $10,000), making it challenging to accurately develop a strategy without using the live platform. Due to its high limits and live data, OKX is ideal for beginners looking to improve their skills and experienced traders aiming to build a winning strategy. Users can obtain loans for up to 70% of the collateral’s value, which is marginally better than Nexo’s Loan to Value (LTV) of 50%, as customers can borrow larger amounts with lesser capital. Due to the excellent LTV ratio and wide range of collateral options, OKX is a great platform for those who want to borrow crypto without hassle.

  • I made a transfer of over 1500 USD worth of crypto from Binance and Blockchain shows that their representative isn’t online.
  • Here’s a look at how it compares to another popular exchange, Coinbase.
  • Crypto is highly volatile and prone to steep crashes that can wipe out your savings.
  • Users can also win bitcoins and other rewards using the special features OKX offers.
  • OKX lets users trade options contracts with expiry dates ranging from 24 hours to the end of the year.
  • The OkEx wallet provides a high degree of security because in order for your tokens to be transferred or accessed by anyone else, they would first need your password and two-factor authentication code.

Within these categories, they can certainly rival some of the very best in the industry and often come out on top. This is further demonstrated by the high volumes regularly traded on the exchange. As far as OKX is concerned, this is something of a divisive issue. On one hand, they are one of the foremost exchanges in the world by crypto trading volume. Automated crypto bots have become valuable tools for experienced traders.

Bybit Review 2024: Review of Its Security, Fees, and Features

You can get this in your account by heading over to your username and then hitting “API”. Here you will select “My API”, where you will be able to create your own key with the following parameters. For those who are on the go, you may need to monitor your positions from a mobile device. On-Chain Earn- This area includes on-chain earning opportunities from DeFi protocols and PoS staking. However, if you want to look at the broader market, you can go to “All Options”.

okex review

Futures, perpetual swap trading and options all have a 0.02% maker fee and a 0.05% taker fee. OKX is one of the safest platforms, as they are licensed and regulated. As mentioned, OKX is also one of the lowest fee exchanges in the industry, along with the low-cost leaders Binance and KuCoin. OKX fees are based on a maker/taker fee model depending on asset holdings and/or 30-day trading volume. The Earn feature is so popular that most exchanges now offer some sort of earn platform, but Binance remains the best platform for users to earn passive income on their crypto holdings. OKX takes the win as the preferred platform for traders interested in copy trading and accessing trading bots.

The “Learn” interface

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okex review

Entry-level traders will experience 0.08% maker and 0.1% taker fee on OKX, while entry-level traders will see slightly higher fees of 0.1% on both maker and taker fees on Binance. In terms of products, both exchanges offer spot, derivatives, and margin trading, as well as leverage tokens and low fees. OKX excels in copy trading and trading bot functionality, with a more active bot community and a bot marketplace. Binance, on the other hand, offers a popular crypto debit card and a wider range of trading pairs across markets. 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.

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