It is perfect for anyone who wants to access the world of DApps and DeFi. Be sure to check out our dedicated OKX Web Wallet article to learn more about this powerhouse wallet. The advanced order functionality and charting interface powered by TradingView makes OKX suitable for any style of trading. Like Binance, OKX features many products, too many to list them all here. For a deeper dive, I recommend checking out our dedicated OKX review. The Binance Launchpad was created as an alternative initial listing venue to the ICO model.

• Let’s take a closer look at the derivative instruments they offer at OKX, but first, check out our OKX trading guide that touches on everything from account registration to placing your first trade.
• However, there are limitations on applicable lending amounts based on asset and market conditions.
• If that’s your style, your best options are to buy a stablecoin like Tether (USDT) or hold your money in a third-party crypto wallet (which we recommend you do anyway).
• Self-trade refers to a situation where users and their sub-accounts accidentally match their orders, and the users become both the seller and buyer in the trade.
• That’s why I would like to take a look at trading fees very closely in this OKEx exchange review.
• Futures, swaps, and options have their own rate schedules with varying fees.

How long does a deposit take OKX (Previously OKEx)?

• Furthermore, these private keys are stored in bank vaults in secret locations around the world.
• Americans and Canadians can use Okcoin, a U.S.-based exchange owned by OKX’s parent company.
• Despite this, OKX offers a fast and functional trading experience with minimal fees, making it a solid choice for professional traders.
• OKX is committed to security, employing measures like cold storage for funds and two-factor authentication for user accounts.
• The OKX mobile app boasts a visually appealing and intuitive interface, consistently praised for its user-friendliness compared to similar wallets.

It’s a quick and easy way for beginner to expert cryptocurrency enthusiasts to buy, hold, and exchange hundreds of popular cryptocurrencies with competitive trading fees. If you’re in an area supported by OKX, you can create an account that gives you access to trade 317 spot currencies. OKX could work as an exchange you use in addition to a third-party cryptocurrency wallet or your primary place okex review for crypto-related activities. With an account at OKX, you can easily buy crypto using a card, bank account, or mobile wallet. It also offers exceptionally high yields in some cases when participating in staking or saving features. While it’s not the biggest cryptocurrency exchange on the block, it does an excellent job of supporting a large number of currencies and has a wide range of services.

Additional Features

In addition to Earn products, OKX users can utilize their crypto holdings to magnify their exposure in the digital currency markets via crypto-collateralized loans. Funds borrowed via crypto loans can be used across the platform’s numerous services, including spot and derivatives offerings, and Earn products. In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman – it connects you (your offer or request) with that other person (the seller or the buyer).

OKX Review 2024: Crypto Trading App and Web3 Gateway

Cryptocurrency exchanges have some unique security concerns you don’t typically face with traditional banking platforms. However, the best practices for keeping your financial accounts secure are similar. These include using strong passwords unique to every website and app alongside a multifactor authentication app to keep hackers out of your funds. The OKX mobile app is available for download on iOS and Android (APK) devices.

Customers on Binance can take part in the IEOs on the Launchpad, making it easy for users to get involved while sidestepping the complexities and exclusivity of traditional IDO/ICO events. As if those fees weren’t already low enough, we managed to sweet-talk the folks over at Binance and OKX to provide our community with even lower fees. These platforms both have very similar layouts and designs as far as navigation goes, with different areas being accessible by dropdown menus along the top bar. Binance and OKX have more similarities than differences regarding products on offer, capturing similar markets with a few notable differences. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

• You can easily find all of the cryptocurrencies and trading pairs available on the OKEx website.
• Under OKX (Previously OKEx) P2P Trade, click on the currency you want from the dropdown menu and select the desired currency.
• While it seems that OKEx has it all, newbies can find it really difficult to use.
• Withdrawal fees (gas fees) are usually charged, although these are paid to miners rather than the exchange.
• They are one of the most popular and well-respected cryptocurrency exchanges in the industry.

Yes, OKX is one of the longest-standing exchanges in the industry, trusted by millions of users worldwide. They have a very good security track record and take extensive measures to ensure they remain one of the most secure exchanges in the world. Binance is trusted by millions of users worldwide and the insurance fund has been used for customer account breaches in the past. Binance continues to work towards transparency and global regulation and is a moral driving force for the crypto industry. Binance follows best practices in terms of security protocols, and they keep a significant portion of profits aside as an insurance fund for customers who lose funds in the unlikely event of a hack. Binance will be the better choice for users needing fiat offramp services or for fans of the BNB ecosystem.

My Key Takeaways after testing the OKX Mobile App