OKEx is also expected to launch its own rival DeFi platform much like Ethereum’s, although no official announcement has been made. While we are independent, we may receive compensation from our partners for featured placement of their products or services. Read the latest breaking stories around the cryptocurrency OKB. Focusing from an investment perspective, we are looking at it all from OKB price analysis to OKB Blockchain Foundation launching their largest round of buy-back and burn of OKB. Over 300 cryptocurrencies are traded on OkEx against Bitcoin including many tokens such as ETH , LTC and HSR .
When you are done with the currency, you will need to select the account you want the funds to head to. This can be done in either of two ways; you can download the OKEx app and create an account, or if you are more comfortable with a desktop, head down to their official website. Click on the “sign up” icon on the top right corner to get started. You will be asked to provide your email address and password. OKEx also gives the offer of signing up with just your mobile phone. Now that you are well-versed in what services and features OKEx offers, we will show you how you can get started in a few trading steps on the platform.
OKX vs Other Brokers
There is an English chat window on the OkEx website and the support team typically responds within 20 minutes providing clear answers and links to further information. The professional and expert interfaces offer more advanced features, such as trading charts or order management tools like stop losses. Additionally, the interface is fully customizable with no default shortcuts to minimise distractions when you are busy doing something else. Stop limit orders can be used to buy or sell at a specified limit point. The difference is that if you put in a buy stop limit order, it will only execute when the market falls below your pre-set price and vice versa for sell stop limit orders. A warning has ben issued that the website, platform and app might be infected by trojan malware.
Is OKX A Wallet?
OKX is an exchange on which traders can invest in crypto tokens and currency pairs. The platform supports the Web3 wallet, which allows users to manage digital assets across multiple networks.
OKX is a legitimate cryptocurrency exchange with operations in 200+ countries and office locations in the Seychelles and Malta. Whilst not licensed with a notable regulator, the company’s number of active users is greater than 20 million. Binance – Binance is one of the leading online crypto exchanges offering Bitcoin. Despite these precautions, no crypto okex review exchange is truly safe. There have been reports of hacking issues and account passwords being bypassed. The company has since brought out new security guidelines, but we would still recommend caution when investing in the crypto space. Before clients can withdraw profits, they may need to meet the exchange’s various KYC identity verification levels.
CME’s perpetual and futures open interest grew by 47.2% and 78.3% to $1.7bn and $613mn respectively, both all-time highs for the exchange. When you first sign up with OkEx, you will need to provide your phone number and upload a government issued ID. The process can be completed in under five minutes which is quite fast for opening an account compared to other exchanges. Verification helps to ensure that all users are properly vetted and also protects them against fraudulent activities. This website is using a security service to protect itself from online attacks.
OKX seems a legit broker with clients around the world, although it is registered offshore and mostly unregulated.
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Investors are interested in much more than just cryptocurrencies, and eToro provides access to a much broader asset class. EToro is another platform that allows traders and investors to make bets and possibly earn returns. However, while OKEx focuses exclusively on cryptocurrencies, eToro has a broader scope.
Given the inherent volatility of cryptocurrency, the likelihood for any trader of an involuntary exit—being liquidated—is therefore very high indeed. OKEx’s referral and affiliate program allows you to earn commissions when your referrals buy crypto, deposit crypto, and trade on the platform. However, thanks to its exposure to traditional stocks and other financial instruments, eToro provides a better and broader trading experience than OKEx. With OKEx, you can start with a minimum deposit of just £7.25, making it easy for you to gain exposure to cryptocurrencies with little capital.
This OKEx exchange review dives into how OKEx works, the benefits you stand to gain and if there is a better alternative. Needs to review the security of your connection before proceeding.
- Binance – Binance is one of the leading online crypto exchanges offering Bitcoin.
- The platform offers exchange and trading services to cryptocurrencies and crypto-based derivatives, allowing traders to make money and capitalize on their holdings.
- Withdrawal fees can change; for example, in 2020, an announcement confirmed that multiple cryptos, including BTC, ETH and USDT-ERC20 were to have their fees lowered.
- Those with at least $100,000 in assets can also engage in block trading to reduce price slippage when making high-volume trades.
- It offers over 400 trading pairs and a host of spot, margin and other investing products.