Tokens can be seamlessly listed and integrated on the chain without seeking approval in a centralised fashion. OKX does not use an ordinary Transmission Control Protocol/Internet Protocol (TCP/IP), which is the typical method that allows digital computers to communicate over long distances. Instead, this communication is conducted via a special network communication protocol that is a proprietary, partially offline service that prevents an online attack. According to OKX, its semi-offline servers cannot be compromised — even if physically attacked. That’s because a user’s private key is stored in the server’s temporary memory file, not a permanent hard drive. This makes it virtually impossible for hackers to gain access.
- The exchange attributed this to the failure of the account holders themselves to secure their accounts and having made passwords and logins accessible.
- OKX supports conversions between all cryptocurrencies and stablecoins on the exchange.
- This has got everything you need to know, from simple trading guides to more advanced resources such as how to trade options and futures and bespoke trading strategies and general crypto info.
- Its parent company also owns Okcoin, a smaller exchange based in San Francisco.
- When it comes to asset coverage, you can trade up to 12 different assets.
OKX is registered in Hong Kong and Malta and offers VFAA-compliant trading services. VFAA, or the Virtual Financial Asset Act, is a regulated authority under Malta Financial https://www.tokenexus.com/ Services. As for security, it is one of the safest cryptocurrency trading platforms in the world that has never been hacked and thus has no negative reviews against it.
Is Coinbase Safe? Read Before You Sign Up
Within each group, there are further tiers that define the commissions and fees. Normal users are divided into 5 tiers and VIP users into 7 tiers. When you are trading options, you need to specify whether you want ‘Calls’ or ‘Puts’. Calls give you the right to buy, whereas Puts comes with the right to sell. Trading in options allows the investor to buy or sell an asset on an arranged day. There are two types of futures contracts, one is coin-margined futures and another is USDT-margined futures.
- When the cryptocurrency market took an unprecedented turn in March 2020, OKEx managed to top the sector with the largest top-tier trading volume.
- However, OKX provides competitive trading fees and good opportunities for high-yield staking, and its friendliness to beginners is a positive touch.
- In spot crypto trading, they offer more than 150 coins that when combined with the various currency pairing made available total more than 450.
- OKEx takes security very seriously, but fund security also depends on how careful users are.
Access over 40 popular coins and altcoins and staking to earn interest. You get $15 for any of your friends who sign up via your OKEx invite code and complete KYC verification, make a deposit, and trade crypto. OKEx allows you to discover and explore the decentralized okex review world with MetaX, a smart wallet that is compatible with 15+ blockchains and supports over 1000+ DeFi protocols. You can stake with 100+ coins and earn between 1% to over 200% APY on your crypto stake, depending on the coin staked and holding period.
The fund is replenished with the initial margin that liquidated traders have at the outset of their trade. When we look at exchanges, there are several factors that we take into account to determine how safe they are for their traders. For any crypto trader, this is one of the most important considerations. Unfortunately, we know all too well the risks that could come from centralised exchanges. A cryptocurrency and trading writer and investor, Patrick specialises in algorithmic trading. He’s written about every type of automated trading tools – from cryptocurrency robots, binary option robots, down to robo advisors.
You can easily select the type of order you want to implement. Once done, input your details and parameters and complete your trade. But for the sake of this writing, once you verify your email, you can head straight down to depositing funds. You will need to fill in your phone number and choose a strong, unique password. This OKEx exchange review dives into how OKEx works, the benefits you stand to gain and if there is a better alternative. We are a professional review site that receives compensation from the companies whose products we review.
OKX provides simple and complex trading tools and, if you’re interested, an on-ramp into proof-of-work crypto mining and DeFi liquidity mining. Read our full OKX review to learn more about its many offerings. The OKX trading platform offers a user-friendly mobile application that can be easily downloaded from the Apple Store or Google Play.