This OKX review is not intended as formal investment advice, and it does not constitute an official endorsement of the platform. Margin trades are charged per spot rates, but additional fund borrowing charges exist. okex review Apart from these charges, there are tiered fee structures for Perpetual Swaps and Options. Crypto withdrawals to specific wallets and chains are charged depending on the crypto type and the chain you transfer to.
Plus, it comes with an integrated, native web wallet governed by your private key. Withdrawal fees (gas fees) are usually charged, although these are paid to miners rather than the exchange. 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. Note that higher withdrawal fees may mean faster processing times as miners are incentivised to prioritise your transfer request. To withdraw fiat money to your bank account, use P2P trading to convert crypto into a fiat currency.
On the other hand, OKX offers a wide range of tradeable instruments, advanced trading features, and derivatives trading. It also has a robust earn platform, a launchpad, bot trading, and other features that Coinbase doesn’t have. OKX is often favored by users located outside of the United States, while Coinbase is popular among US-based users due to its regulatory compliance. OKX is one of the safest platforms, as they are licensed and regulated.
- Purchased assets go directly into your account and can be used to trade right away.
- Any action taken by the reader based on this information is strictly at their own risk.
- On one hand, they are one of the foremost exchanges in the world by crypto trading volume.
- This is where users who provide liquidity to a decentralized protocol can passively earn its tokens in exchange.
- As long as you’re in a country where OKX is licensed to trade, you can sign up by providing an email address and password.
It allows you to buy and sell your digital assets in various forms (spot and derivatives), view prices in real-time, store your digital assets and make transactions. Many crypto users will have accounts at more than one crypto exchange and use Coinbase primarily as a fiat on and offramp and conduct their trading elsewhere. Coinbase really is one of the best platforms for crypto users who enjoy simplicity and is one of the safest exchanges for fiat to crypto transactions.
OKX (Previously OKEx) Review: Customer Support
Once you have made the request, they will process it, and you can monitor it on the blockchain. Once you have sent your funds over, you will have to wait for one confirmation before it is credited. If you would like to track your deposit, you can use a blockchain explorer. Ok, once you are ready to try out OKX you will need to create an account. You can hit “Sign Up” and sign up using an email address, phone number, or link to a Google account when you are on the website.
OKX enables users to effortlessly trade crypto with zero fees and no spreads using its conversion feature. The platform supports over 100 assets for conversion, which is substantially more than exchanges like KuCoin, which offers around 50. As for the nature of deposits, you can on-ramp using https://www.tokenexus.com/xmr/ a wide range of fiat currencies to purchase digital assets. And regarding withdrawals, you can off-ramp the same to fiat or move funds to a crypto wallet of choice upon security verifications. You can offload your crypto at a given price, provided someone in the market is interested.
OKEx offers users a trading experience while on the go through its mobile app. The OKEx mobile app is available to download on the Google Play Store for Android and the Apple App Store for iOS devices. The mobile app has a simple, fresh layout that allows you to see everything and navigate your way seamlessly.
The available options are spot, funding, perpetual swaps, and options. You will need to make the payment on a wallet address that the OKEx platform generates. The exchange currently offers trading in over 240 different cryptocurrencies, which can be traded against Bitcoin, Ether, XRP, Tether, EOS, Litecoin, and Bitcoin Cash. Its depth of altcoins is quite impressive, allowing you to enjoy optimal liquidity. It is a proof-of-work (PoW) mining protocol that supports popular digital assets like BTC, BCH, BSV (SHA256), ETH (Ethash), LTC (Scrypt), DASH (X11), and many others. Customers of OKX have a lot of options when it comes to customer support.