OKX is a Seychelles-based cryptocurrency company that provides a range of services, including a crypto exchange. Although the exchange is not available in the United States, it is accessible to users worldwide. OKX is an excellent option for traders seeking to buy and sell crypto with low exchange fees. The platform allows users to purchase cryptocurrency using a card, bank account, or mobile wallet.
Moreover, participating in staking or saving features can offer exceptionally high yields. Despite not being the largest cryptocurrency exchange, OKX supports a vast array of currencies and services, making it an ideal choice for users looking to manage their cryptocurrency activity with one login.
The OKX Exchange Overview
OKX is a popular cryptocurrency exchange founded in 2017 and headquartered in Seychelles. It has gained a reputation for being among the largest cryptocurrency exchanges in the world based on trading volume. The platform claims to have over 20 million users in more than 100 countries.
OKX allows users to trade more than 343 spot currencies and offers advanced features such as margin borrowing, staking, savings, cryptocurrency-backed loans, mining pools, and OKExChain, its blockchain platform. Although OKX may not be the primary cryptocurrency wallet, it can be a useful addition to your crypto-related activities.
Crypto Assets Available on OKX Crypto Exchange
Here’s a quick look at the most traded cryptocurrencies by volume on OKX, which supports over 300 digital assets:
- Bitcoin
- OKB
- Terra
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
- JUST
- XRP
- Dogecoin
- Polkadot
- Shiba Inu
Fees on OKX
OKX offers different pricing tiers for spot trades based on trade volume and account holdings, with the maximum fee being 0.10%. Discounts are available for high-volume traders and those holding OKB currency. Futures, swaps, and options have their own fee schedules. However, OKX doesn’t disclose fees for deposits and withdrawals, which could be a concern for some users seeking full transparency in fee schedules.
Account Opening Process on OKX Crypto Exchange
OKX provides a straightforward registration process for international users, similar to other cryptocurrency exchanges or stock market brokerage accounts. After registering an account with personal information, completing the KYC (know your customer) requirements is necessary to access all trading features.
KYC verification is available at three different levels, each requiring more information, including a government identification number, uploading a picture of the ID and a selfie, and agreeing to a disclaimer. Unverified accounts have withdrawal limits of up to 10 BTC per day and transaction limits of up to $500, while higher levels offer higher withdrawal and transaction limits.
Final Words
In conclusion, OKX is a globally accessible cryptocurrency exchange that offers a wide range of services for traders and investors. With support for over 300 cryptocurrencies and a variety of trading options, OKX may be a good choice for those looking to manage their cryptocurrency activities in one place. While its fee schedules can be opaque and not all services are available in all locations, its user-friendly platform and solid reputation make it a viable option for many users.