OKX Key Features
OKX is a feature-rich platform that offers a variety of products and services including crypto staking, derivatives trading, and much more. Refer to the below list for a high-level overview of the key features offered on OKX.
- Buy and sell over 340 cryptocurrencies via Instant Buy or Spot markets.
- Trade with multiple types including futures, margin, spot, and options trading.
- 24/7 customer support via live chat, email, online ticketing system, and social media.
- Easy-to-use interface with an intuitive design that can be tailored for beginners and experienced traders.
- A secure and anonymous trading environment with no KYC verification requirements (accounts limited to 10 BTC per day withdrawals and daily trading up to $500).
- Safe and reliable crypto wallet services for storing your digital assets securely.
- A cross-chain NFT marketplace supported on Ethereum, Solana, Polygon, and more.
- Seven different staking types on hundreds of tokens and pairs with both fixed and flexible terms.
- Benefit from access to advanced charting tools, technical indicators, and order types.
- A mobile app version of its platform that is supported on both iOS and Android devices.
- Single and multi-collateral crypto loans on fixed and flexible terms.
- A P2P (peer-to-peer) marketplace that supports over 93 fiat currencies.
Is OKX Safe to use?
Yes, OKX is widely regarded to be one of the most secure cryptocurrency exchanges in the world. It has been operating since 2017 (previously OKEX) and has never been subject to a cyber attack or hacking incident, proving it's battle-tested and secure. The reason users prefer to use OKX over other platforms is that it's transparent about its holdings and provides proof-of-reserves showing customer funds are backed 1:1.
One of the reasons for OKX's popularity is its competitively low exchange fees. Its pricing is attractive and significantly lower than the industry average. Refer to the below for a summary of the fees charged on OKX.
Deposit and Withdrawal
Fiat currency and crypto deposits are completely free on OKX (if you use a third-party provider they may charge some fees). Crypto withdrawals are subject to a small fee (which vary depending on the token) to cover the cost of gas (network transaction fee). Fiat withdrawals are free.
Spot and Futures Trading
The Spot maker fee starts from 0.08% and the taker from 0.1% but can get to 0.06%/0.08% for users that hold over 2000OKB (the exchange's native utility token). As for futures, it gets a little more complicated as there are 5 different futures trading types. The maker/taker rebate for USDT-M futures starts from 0.02%/0.05% but gets lower the more OKB you stake. For a detailed summary, visit OKX Fees.
The exchange is supported in over 100 countries globally including the US, UK, India, Japan, and others. However, not all countries support fiat currency bank deposits and withdrawals. There are only 60 countries that support bank account funding. For the full list of supported countries and jurisdictions on OKX, visit here.
OKX offers crypto staking on over 200 tokens and pairs with both fixed and flexible terms. Staking rewards vary depending on the token and staking type but can reach up to 103% (for Solana) in annual returns. Below we have provided a quick summary of the available staking types.
- Savings: This staking method allows users to earn hourly interest on hundreds of tokens by funding OKX margin loans.
- Staking: Stake hundreds of different tokens on both flexible and fixed terms (up to 120 days) for APY's up to 103% APY (yields).
- DeFi: Earn rewards from DAOs, DEXs, and DeFi projects by supplying funds to them for yields.
- ETH2.0: Stake Ethereum (ETH) to receive BETH at a 1:1 ratio, funds are locked up for 1-2 years.
- Flash Deals: Participate in staking events that are open for a period of 3 - 10 days to earn extremely high yields (up to 300%) on select tokens.
- Dual Investment: with Dual Investment, users can maximize their profits by choosing a major crypto pair to trade like BTC/USDT, and earn yields on that pair.
- Fixed Income: Low risk fixed-term staking with small yields on ETH, BTC, USDC, USDT & OKB.
The OKX NFT marketplace was recently launched in November 2022 and supports cross-chain NFTs on Ethereum, Polygon, Tron, Binance Smart Chain (BSC), Solana, Avalanche, Fantom, and many more networks. It supports all the major NFT projects like Azukis, BAYC and Crypto Punks.
One thing that sets apart the OKX NFT marketplace from popular ones like OpenSea, is that you can spend any of OKXs supported tokens on an NFT, not just Ethereum or Dai.
The OKX wallet is a secure and reliable way to store your digital assets like crypto assets or NFTs. The wallet offers advanced features like multi-signature authentication, hardware security module support, real-time transaction monitoring, private key encryption, and cold storage support. It's one of the most used crypto wallets as it supports over 40 networks including Ethereum and Solana.
OKX offers 24/7 customer support via its live chat feature, email (firstname.lastname@example.org), online ticketing system, and through its many social media platforms. These online communities include Twitter, Facebook, TikTok, Instagram, Discord, Telegram, Reddit, YouTube, LinkedIn, and Medium. They also provide support in over 30 languages, visit OKXs Social Media page for language-specific assistance.
The exchange also has a mobile app version of its platform that is supported on both iOS and Android devices. The mobile application offers all the same features as the desktop version with an intuitive design and easy-to-use interface. The app supports spot trading, derivatives trading, staking services, NFT marketplace, crypto loans, P2P marketplace transactions, and much more.
It is currently rated 4.8 stars out of 14.6K reviews on the Apple App Store and 4.4 stars from 267K reviews on the Google Play Store. Most of the reviews are positive and highlight the easy UI of the application.
How to Open an Account on OKX
Opening an account on OKX is simple as it does not initially require you to KYC (verify your identity) in order to use the platform. You only need to verify your identity if you wish to make trades over $500 or use certain features on the platform. Follow the below steps to sign-up to OKX.
- Create a free account on OKX with your email address and password.
- Verify your email address by clicking the link in your email.
The Bottom Line
OKX is a reliable and highly secure digital-asset exchange with a wide range of features. It offers competitive fees, advanced trading tools, multiple order types and execution modes, staking services, an NFT marketplace and much more. In addition, the OKX wallet provides users with added security features such as multi-sig authentication. OKX is a great platform to use for both beginners and experienced traders alike.