Okex Review 2020
In 2018, it expanded crypto operations to Malta as the Maltese government has adopted an overall friendly approach to cryptocurrency trading. Based on their track record, OKEx seems to be a safe Exchange to use.
- The system is flexible, giving you sufficient control over all of your trading needs.
- Overall, OKEx has created an ecosystem that works well for cryptocurrency traders.
- The OKex exchange was born out of OKCoin as a brand targeted at more advanced cryptocurrency traders.
- With significant expertise in the digital asset marketplace, OKEx is now home to an unprecedented number of seasoned traders.
- Even if trading is not your forte, the platform has solutions letting you earn interest on your digital assets.
- When the cryptocurrency market took an unprecedented turn in March 2020, OKEx managed to top the sector with the largest top-tier trading volume.
OKEx offers trading on margin, aka leverage, for Tether against Bitcoin and other leading cryptos. Margin trading uses a loan agreement to multiply okex review your effective funds. For example, if you deposit $100 and employ 2x leverage, you will gain double the profits if price moves your way.
Is Okex Safe In 2020?
OKEx is a safe cryptocurrency exchange as they use the most advanced encryption technology to secure its platform from hackers. While cryptocurrency exchange regulations are still in their infancy, OKEx efforts to get a regulatory framework in Malta and in other parts of the world. The exchange has never been hacked and overall, it is considered one of the safest cryptocurrency exchanges in the market. Once the funds have been automatically added to your account, you can start trading at OKEx.
When it comes to trading fees, this is where OKEx really stands out from the crowd. OKEx distinguishes its traders into Normal and VIP users based on their previous trading volumes over the prior 30 days. These cryptocurrency instruments are traded with an agreement between two parties to exchange the cryptocurrency news asset on a predetermined date. In cryptocurrency trading, such agreements are often tracked in terms of digital tokens. A Funding Account primarily serves as a digital bank account for your cryptocurrencies. From here, you can send, receive, and trade your digital assets to and from other wallets.
One huge advantage of this exchange is that it offers fiat-to-crypto trading, so users can use OKEx as a one-stop shop for getting into, and “cashing out” their cryptocurrencies. One unique feature of okex review OKEx is its integrated storage wallet called OKEx Wallet. Similar to many other exchanges, OKEx has a mobile app available on the App Store and Google Play Store for convenient trading on the go.
Using leverage or borrow funds to trade for a specified period of time, you get more leverage once you have more collateral in your account. At the top you can select the time to expiry as well as what currency you would like the funds to be margined in. So, from the above you can see that those market makers will get a rebate if they are able to generate over 100k in BTC trading volume on a 30 day rolling basis. These fees are about in line with those of other leveraged trading platforms like ByBit etc. Overall, OKEx has notably low fees, which compare favourably to most other leading exchanges. However, the spread, or difference between the buy and ask price, must also be considered as a trading cost. Generally, spreads are low on coins with a lot of trading activity, so you should compare OKEx’s markets for your coin of choice to other exchanges to find the best spread.
We’re a world-leading cryptocurrency and Bitcoin exchange, providing spot and derivative trading services to millions of users in over 180 countries. We provide hundreds of tokens and futures trading pairs to help traders optimize their strategy. OKEx is a crypto exchange & trading platform that allows you to buy and sell crypto as well as a wide variety of cryptocurrencies to trade, across various spot and derivatives markets. Additionally, the platform offers many other services such as crypto lending & borrowing, and even runs its own crypto mining pools and staking services. OKEx is a digital currency trading platform specifically designed to empower cryptocurrency traders.
In particular, higher level VIPs are even given rebates on the maker fees. Perpetual Swap trading allows traders to buy and sell contracts which do not have an expiry date and are essentially bets on the future value of a cryptocurrency. For OKEx’s Perpetual Swap, a traders’ profits and losses are realised and settled twice a day and trading up to 100x leverage is available. However, leverage trading is very risky so extra caution is essential.
The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff. The alleged detention of one of the owners of the private key, which is required to withdraw funds from the exchange, has led to an increase in the negative impact on Bitcoin. Just a few weeks ago, a similar situation happened with BitMEX. however, Bitcoin was able to quickly “digest” this news and move on. Finally, with a great track record of security, despite being one of the largest exchanges in the world, OKEx comes out as a reliable platform for traders of all types.
For example, if the Bitcoin trader has achieved a spot trading volume greater than 500 BTC, the market taker fee reduces to 0.135%. VIP users can enjoy much more competitive trading fees of 0.030%-0.080%. OKEx https://tokenexus.com/okex-exchange-review/ was founded in 2017 with headquarters in Malta and the Republic of Seychelles. CEO of OKEx, JayHao, had a background in game development and the semiconductor industry before joining the cryptocurrency space.
So far, unlike some other cryptocurrency exchanges, OKEx has not suffered a confirmed hack involving multiple victims. Depending on whether you are joining the program for OKEx’s Spots, Futures or Perpetual Swaps markets, users can get -0.005% (i.e. a rebate) on maker fees and 0.04% on taker fees. OKEx’s C2C trading platform allows users to trade a selection of cryptocurrencies amongst themselves, similar to an Over the Counter trading desk. There are only a handful of exchanges out there that offers crypto-to-fiat trading pairs.
The highest trading fees payable for low volume accounts are a 0.15% maker fee and 0.2% taker fee. This drops as low as 0.02% and 0.05% for makers and takers fees respectively. The OKex exchange offers okex review the standard crypto-to-crypto trading most common for cryptocurrency exchanges as well as fiat to cryptocurrency trading. For now, unfortunately, Chinese Yuan is the only fiat currency supported.
Step 1 Open An Account With Okex
OKEx allows up to 10x leverage for some trading pairs, with others offered at 2x, 3x, and 5x. This essentially allows the user to borrow an amount of assets from the exchange to be able to open larger positions on the market. While this can increase risks slightly (especially without using Stop-Loss orders), users can maximize their profits okex review by accessing levels of capital they did not previously have access to. With this service users can earn interest while holding their cryptocurrencies. Users can subscribe to various contracts to earn a yearly interest rate. The contracts are flexible which means that there are no restrictions to move or withdraw your digital assets.
Derivatives trading is another function that puts OKEx among one of the most utilized trading platforms in the market. Apart from being a trading exchange, OKEx also provides cryptocurrency financial services. This means you can invest your crypto assets to earn interest and take out crypto-backed loans as required.
Crypto exchange offers users with Bitcoin and Litecoin futures and also high trade volumes. There is no danger of scams and hacking activities due to its high-quality security system. Okex cryptocurrency exchange is considered as the most trusted digital assets exchange and the global leader of the blockchain technology. Any of the exchange cannot be regarded as a trusted exchange until it proves itself. The exchange has brilliant records so far in the crypto world and has proved its worth as a secure and advanced platform for trading. In summary, OKEx is one of the best exchanges in terms of liquidity, the supported assets, and features. Whether you are an advanced active trader or a one-time investor, you will find a solution on this platform.
The Company, Security Of Funds
As mentioned, there are different types of trading options available including a spot, margin, futures, options, DEX, and perpetual swap. Once your OKEx account has been verified, navigate to the Assets button and click on the Deposit. The platform’s deposit screen will open up, and on this page, you can choose the type of cryptocurrency you’d like to deposit to your account. Registering for a trading account is mandatory in order to use the platform and trade cryptocurrencies. Luckily, the account creation process is not complex and you will be able to either register through the website or OKEx iOS/Android mobile app. The exchange has never been hacked despite being one of the largest cryptocurrency exchanges in the world, and overall, OKEx is considered to be a safe and secure trading platform. OKEx offers a wide selection of trading assets, making it possible to get access to spot and derivatives trading.
Overall, OKEx has created an ecosystem that works well for cryptocurrency traders. The system is flexible, giving you sufficient control over all of your trading needs. Even if trading is not your forte, the platform has solutions letting you earn interest on your digital assets. When the cryptocurrency market took an unprecedented turn in March 2020, OKEx managed to top the sector with the largest top-tier trading volume. With significant expertise in the digital asset marketplace, OKEx is now home to an unprecedented number of seasoned traders. Exchange fees need to be assessed before decided to trade on a cryptocurrency trading platform.