Last Updated: September 4, 2022
Pros:
✅ Low trading fees of 0.10% or less for most trades
✅ High-interest staking opportunities
✅ Easy to buy cryptocurrency using a card, bank account, or digital wallet
✅ Trading fees decrease with higher trading volumes or larger stakes in OKX’s currency, the OKB token.
✅ Opportunities to earn at more than a 100% annual interest rate
✅ Allows a wide array of fiat currencies to open an account
✅ Allows a wide array of fiat currencies to open an account
✅ Educational resources
✅ A broad suite of offerings
✅ High Staking APY’s
✅ Hundreds of trading pairs
✅ Buy/Sell dashboard that’s easy to use
Cons:
❌ Not available to users in the United States
❌ Low liquidity for some currencies
❌ Mixed reviews from past customers
❌ Some reviews indicate poor customer service and lost funds.
❌ Very complex, multi-tiered fee structure
OKX is utilizing blockchain to create the next-generation financial ecosystem. We aspire to remove financial obstacles, evolve the global economy, and improve the planet. We are always innovating and improving our user experience in order to make cryptocurrency trading and investing accessible to all.
Our first emphasis is security. OKX offers a secure, dependable, and comfortable environment for cryptocurrency trading via online and mobile apps. For your security, we use worldwide server load balancing, distributed clusters, and other innovations. Our offerings are always customized to your specific requirements and suggestions.
OKX is a low-fee worldwide cryptocurrency exchange. While it is not authorized for users in the United States, it may be an excellent option for anyone wishing to buy, stake, and trade a wide range of currencies.
Including over 300 cryptocurrencies available, there isn’t enough space in our OKX analysis to cover them all. There have been 343 currencies in all on the market. The following are the major currencies traded on OKX by volume:
OKX accepts a vast variety of popular currencies. Whether you’re searching for a particular coin, there’s a significant possibility you’ll get it at OKX.
One of the main factors contributing to OKX’s platform’s current level of popularity is its well-known affiliate programs and referral codes, as was already noted in this post.
You are given a unique affiliate referral number when you create an account. You can enjoy 20% bonus on all fees using this code. Once you have this code, you can use it to make a referral link and share it with friends and other users. They will also get 20% bonus on all fees.
Your friends who create new accounts through this OKX referral link also receive rewards when they do so.
They will also be eligible for a referral incentive if they use your crypto coupons link or OKX recommend code.
There is nothing else you need to do after clicking on our link because the ‘Referral Code’ part will be automatically filled up in your browser. Complete the remaining steps of the registration process.
Make sure you read and understand all of the T&Cs before proceeding. Before you start trading with them, it’s time well spent investing.
OKX offers staking accounts with rewards for over 100 different cryptocurrencies and projects. Whether you want a fixed or flexible holding period, each one has its own annual percentage yield (APY). Some coins have minimal staking restrictions, like Ethereum, which will not permit users to stake below 0.02 ETH.
OKX’s hot wallet technology employs numerous layers of security to secure its users’ private keys, including:
Before even being posted to the blockchain for confirmation, all user-asset deposits and withdrawals must go through multiple risk-management systems.
OKX claims that its semi-offline servers cannot be compromised even if physically attacked. This is because a user’s private key is saved in the server’s temporary memory file rather than on a permanent hard drive. This makes gaining access nearly tough for hackers.
OKX does not employ the ordinary transmission Control Protocol/Internet Protocol (TCP/IP) that permits computer systems to interact over vast distances. Therefore, this communication is carried out using a proprietary, partially offline network communication protocol that avoids an online attack.
Finally, various emergency procedures are in place for backup private-key activation in various places.
OKX categorizes currencies into multiple pricing levels based on trade volume and account balances. The maximum commission for spot trades is 0.10 percent. Discounts may be available to high-volume traders and those with a big holding of the OKB currency. Futures, swaps, and options all have their own fee schedules.
One significant disadvantage of OKX is that it does not reveal fees for deposits and withdrawals. While most of OKX is transparent, hidden costs are a red signal that should direct you to another exchange having transparent charge schedules.
OKX also allows users to participate in cryptocurrency mining by joining a miner pool.
A miner pool brings together individual miners from throughout the globe and pools their hash rate (a series of mathematical steps). In this manner, they’re all mining at a higher level, which gives them a better chance of solving a proof-of-work block. Pooling is required since the chances of a single miner solving a block on their own are slim to none.
When one block has been solved on OKX, the rewards will be divided between mining pool members based on how much computing power each supplied. OKX provides 11 proof-of-work mining pools, such as Bitcoin, Ethereum, and Litecoin, as well as lessons on how to join each.
