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It has a limit of 300 million shares and promises to buy back and burn shares every three months. This mechanism keeps the number of tokens in circulation from growing, which is thought to increase demand and value. The value of digital currencies can go up or down frequently…. The exchange has been available for years now, and it has continued to operate despite security threats and changing regulatory procedures. Currently, American traders can’t trade on OKEx because it doesn’t have a license to operate in the country. The exchange also maintains offices in Hong Kong, Malta, and Belize.
OKEx cryptocurrency exchange is one of the top-ten global cryptocurrency exchanges by daily volume (over USD$1.68 million) and provides services in over 100 countries. This popular Exchange conveniently offers fiat-to-fiat and crypto-to-fiat trading, futures trading and wallet options all on one site. In this review, we’ll look at OKEx’s features and some controversies that you need to know. OKex is a well-backed exchange with significant global ambitions. Low trading fees are another big plus that will appeal particularly to more experienced traders.
Stay away from this fraudulent exchange
That’s why I would like to take a look at trading fees very closely in this OKEx exchange review. OKEx is a well-recognized brand in the industry and has almost $750m of volume daily. The company believes that security should always come first and, therefore, provides users with a safe and reliable environment for cryptocurrency trading. Also, OKEx wants to ensure that the platform is easy to use, even for those who aren’t experienced in crypto trading yet. Futures contracts allows trading of the cryptocurrency at a predetermined price at a future date, irrespective of the market conditions at the time the contract expires.
OKX offers propriety charting tools and those provided by TradingView, adding to its customizability. Additionally, customers can access drawing tools and 70+ technical indicators for performing analysis. It usually takes 30 minutes to process a payment for crypto made through a fiat provider. When transferring crypto from a third-party exchange, the speed often depends on the network and blockchain traffic. One big downside of OKX is that it doesn’t disclose fees for deposits and withdrawals.
OKX Mobile App
The mobile app has a simple, fresh layout that allows you to see everything and navigate your way seamlessly. The app also doesn’t freeze up on you mid-use – a problem that many bitcoin exchanges have encountered with their mobile apps. However, note that you will need to pay a minimum https://www.tokenexus.com/what-is-blockchain/ Bitcoin network fee on all BTC withdrawals. An option is a contract that gives an owner the right to purchase an asset at a given price and at a particular time. Trading these derivatives requires an in-depth understanding of math skills, and OKEx only offers them to advanced traders.
- Yes, OKEx offers the OK Vault multi-currency wallet that allows users to store mainstream and ERC20 tokens.
- Although it is easier to withdraw crypto, one way that traders can withdraw fiat money is to convert their crypto back into fiat using the P2P service.
- OKX offers 11 proof-of-work mining pools to choose from, including Bitcoin, Ethereum, and Litecoin, along with tutorials on how to join each.
- Futures are always welcomed by professional crypto traders as they offer even more opportunities for making a profit.
- For newbies looking to get the hang of day trading, this feature is beyond essential.
- Those who participate in its staking and saving features also enjoy high yields.
- Both of these areas feature very good solutions in the industry.
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. No fees are charged when transacting on the OKX P2P marketplace. Local payment methods, like Barion and Banco de Credito, are also supported, making it an excellent way for international investors okex review to boost or sell their holdings. However, P2P trading requires more technical know-how than other methods, meaning its inaccessible to beginners. The benefit of using OKX to attain a crypto loan is that funds held on the exchange can be used as collateral, making it highly convenient for traders with existing holdings on the platform.
OKX
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. Simple and intuitive – these are some of the most common words you’ll spot in any OKEx exchange review out there.