One of the top cryptocurrency exchanges, OKX Exchange, gives users access to a variety of digital assets, with over 250 coins and tokens to choose from.
Accessible from both desktop and mobile applications the platform gives users a way to make passive income through their Earn program, and has also launched its own blockchain, OKExChain, giving users access to decentralized finance and providing on-chain asset management and NFTs as well.
With an easy process for registering an account that gives you nearly instant access to crypto trading, and a user-friendly mobile app, OKX has become one of the world’s top crypto exchanges. If you are looking for a new exchange, or your first, our OKX review will help determine if it is the right fit for your crypto needs.
Crypto Premium Score:
Maker Fee: 0.025%
Taker Fee: 0.075%
Up to 250 USDT for trading activity
Ease of use
OKX is one of the biggest cryptocurrency exchanges in the world thanks to its huge portfolio of coins, high trading volume and low fees.
The exchange is regarded as one of the best places to trade cryptocurrencies but it’s not necessarily a great on-ramp for new users as it does not natively support fiat currency. On the flip side registering for OKX is very easy and gives users access to a variety of features like crypto earn and NFTs.
The site is also available on desktop and mobile.
Cryptocurrency, bank account, credit/debit card via third-party
0.08% - 0.1%
Crypto withdrawal fees vary by currency
Review of OKX - Quick Verdict
OKX Exchange is one of the world's top cryptocurrency exchanges, offering over 250 coins and tokens, as well as passive income opportunities through their Earn program. They have their own blockchain, OKExChain, which provides access to decentralized finance and on-chain asset management. While not ideal for new users due to the lack of fiat currency support, OKX is highly regarded for its low fees, high trading volume, and user-friendly mobile app.
OKX Pros & Cons
How to Register for a OKX Account
It is extremely easy to set up a free account on OKX, just follow these steps:
- Visit OKX Homepage
- Click “Sign Up” on top right
- Enter your email or phone number and choose your password. You can also sign up with Telegram or Google account.
- Enter the 6-digit code they send to your email or phone
- You can then deposit funds to begin trading or buy funds through one of their various funding methods noted in the section above.
Signing up via the mobile applications is essentially the same process. It should be noted that while there is no identity verification to deposit and trade your crypto, you may need to have your identity verified to buy it via a credit card or through one of their payment partners.
What You Can Buy on OKX
You can buy and trade a huge variety of crypto assets and tokens on OKX exchange, they have over 250 different digital assets including but not limited to:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Chainlink (LINK)
- Ripple (XRP)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Polygon (MATIC)
- Internet Computer (ICP)
- Tether (USDT)
- Filecoin (FIL)
- Cosmos (ATOM)
- Tron (TRX)
For a full list of coins and tokens supported by OKX please check out this page.
Supported Operating Systems
OKX is available as a website, a desktop client for both MacOS and Windows, and a mobile application available for both iOS and Android devices. Desktop software can be downloaded from the OKX website while mobile apps are available in their respective app stores.
OKX Best Features
OKX has quite a few standout features, the first being their wide array of crypto coins and tokens available for trade, which means you are unlikely to have to use another exchange in order to find the asset you want.
Another great feature is their Earn program, which allows users to earn passive income in a variety of ways such as staking, yield farming, and lending. This is bolstered by their native OKExChain which gives users access to decentralized finance.
The ease of sign-up cannot overstated, it takes less than 5 minutes to set up your account as long as you are planning to fund it with a crypto deposit.
How OKX works
OKX is an innovative cryptocurrency exchange with advanced financial services built on blockchain technology to provide trading, investment, and learning resources.
It's one of the largest crypto exchanges in the world based on trading volume. Serving millions of users in more than 100 countries, it offers access to hundreds of tokens and trading pairs. In addition to futures trading, it provides a range of services. This includes:
- Spot trading
- Margin trading
- Perpetual swaps
- Decentralized finance (DeFi)
- Crypto mining services
From the home page, you can select "Basic Trading," which allows for spot and simple option trading.
You can also select "Margin Trading." This will allow you to use leverage to try to amplify returns when trading in futures, advanced options, and perpetual swaps. The advanced service allows professional traders to engage in sophisticated transactions involving multi-currencies to maximize profits.
To use the advanced functions, you have to apply and be approved. So beginners don't have to worry about making a costly mistake. There's also a "demo trading" feature that allows novices to practice trading with no risk.
Staking your crypto on OKX
OKX provides interest-bearing staking accounts for more than 100 different tokens and projects. Each has its own annual percentage yield (APY) based on whether you choose a fixed or flexible holding period. It's worth noting that some of the coins have minimum staking requirements, such as Ethereum, which won't allow you to stake less than 0.02 ETH.
The exchange platform has a native wallet feature that's accessible by downloading the wallet app separately. The wallet supports 36 digital assets and multiple vaults and integrates seamlessly with the main OKX trading app.
Crypto mining pools
OKX also lets users try their hand at crypto mining by joining a miner pool.
A miner pool connects individual miners from around the world and pools their hash rate (a series of mathematical steps) together. This way, they're all mining at a higher level, giving them meaningful odds of solving a proof-of-work block. Pooling is necessary because the odds of an individual miner solving a block on their own are slim to none.
On OKX, once a block has been solved, the rewards will be split up among mining pool members according to how much computing power each contributed. OKX offers 11 proof-of-work mining pools to choose from, including Bitcoin, Ethereum, and Litecoin, along with tutorials on how to join each.
Flexible lending options
OKX also allows different forms of decentralized financing spanning 29 digital assets. It offers traditional DeFi options using Aave, dYdX, Compound, DDEX, and Maker. These have varying interest rates determined by the platform and the token type you'd like to borrow. OKX also enables peer-to-peer lending services with flexible terms.
Is OKX Safe?
Yes, OKX is safe. There have been no reports of hacking ever occurring on the platform.
Users can secure their accounts with two-factor authentication (2FA), and even set access for only a specific IP address if they choose to do so. While the company began in China, it long ago moved its headquarters to Malta, and this has allowed them to avoid many of the regulatory issues that China has created for crypto exchanges.
What are OKX Fees Like?
OKX fees are very competitive with all of the other top cryptocurrency exchanges, and the fees get lower depending on a couple factors. For regular users, if you hold no OKB and have less than $5 million in trading volume for the last 30 days, then you have the highest fees with 0.08% for maker (putting an order on the books) and 0.1% for taker (filling an existing order). This can become as low as 0.06% maker and 0.08% taker depending on your OKB holdings and trading volume.
For VIP users, fees start at the lowest fees regular users can get, at 0.06% maker and 0.08% taker. They can then get as low as -0.01% maker (meaning you earn fees for trading) and 0.03% taker. VIP status is solely dependent on trading volume, so you do not need to hold OKB to get access to the lower fees, just trade more.
Frequently Asked Questions About OKX
Is OKX Legit?
Yes, OKX is a legitimate exchange. They have some of the highest daily trading volume of all exchanges and have 267 coins and 620 markets to choose from.
Is OKX Related to OKCoin?
Yes, OKX and OKCoin were both founded by the same man, Star Xu, but they operate as separate exchanges and have different CEOS. Star Xu is now the CEO of the OK Group.
Can US Customers Use OKX?
Unfortunately, OKX does not offer its services to citizens of the United States. The following countries/regions are currently on their restricted list: Hong Kong, Cuba, Iran, North Korea, Crimea, Sudan, Malaysia, Syria, United States of America, Bangladesh, Bolivia, Ecuador and Kyrgyzstan.
What is OKExChain?
OKExChain is a set of open-source public chain projects developed by OKEx, which achieved both high performance and decentralization. OKExChain allows users to launch a variety of decentralized applications, issue their digital assets, create their own digital asset trading pairs, and trade freely.
What is OKExChain Token (OKT)?
OKExChain Token or OKT is the native token of the OKExChain ecosystem, providing immediate utility and benefits such as voting rights, staking privileges and transaction fee payments for decentralized exchanges and other DeFi applications built on the network. The OKT genesis block contained an initial minting of 10 million OKT, which was distributed to OKB holders who staked their OKB on OKEx Jumpstart. OKT has the same halving model as Bitcoin, where its block reward is cut in half roughly every three years.
What is OKB Token?
OKB is the OKEx utility token that enables users to access the crypto exchange’s special features, whereas the OKT token is used on their blockchain, OKB is used on the exchange. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.
OKX Exchange is a top cryptocurrency exchange with over 250 coins and tokens available for trading. They offer passive income opportunities through their Earn program and have their own blockchain, OKExChain, for decentralized finance and on-chain asset management. Though not ideal for new users due to the lack of fiat currency support, OKX has low fees, high trading volume, and a user-friendly mobile app.