According to CoinMarketCap, OKX, rated 6.6, ranks number 18 crypto exchange based on the 24h trading volume of $4,163,848,057 equivalent to 553,373 BTC. OKX has weekly visits of over 1,608,359 and it currently supports 344 coins with a wide range of crypto pairs. Most pairs are offered in USDT, BTC, USDK, ETH, and OKB.
OKX is a leading cryptocurrency spot and derivatives exchange born out of a sister platform called OKCoin. OKX was focused on Chinese-based users however after the Chinese crackdown, it moved out to Hong Kong and then to Malta. Founded in 2014 by Star XU, Belize-based OKX now focuses on international users of 200+ countries round the world having 20M+ verified users. Supported by USDT, BTC, USDK, ETH, and OKB, OKX offers 400+ cryptocurrency pairs. (OKX, Sep 2021). The sister platform OKCoin, like Coinbase, was simpler to provide the only most necessary options like buy, sell, withdraw, deposit options. OKX, however, like Coinbase Pro, targets advance traders and comes with a great number of options. OKX is has a lot of potential to grow, currently, it has a turnover of $1.5 billion only from its Bitcoin futures trading product.
OKX: Ease of Use
The interface of OKX is extremely user-friendly for both beginner and experienced traders. A large number of cryptocurrency pairs help you pick up your favorite coin and trade with it using different options. Whether you want to HODL or trade Bitcoin, the very first step you need to do is to convert your fiat into crypto. Their intuitive fiat-to-crypto gateway is linked with trusted payment channels that are streamlined for you to enjoy secure and efficient crypto trading. OKX Ease of use stands out because of the following salient features:
- 6 Mainstream Tokens
- 180+ Fiat Currencies accepted across the Globe
- 6 Payment Channels including the following:
- 17 Payment Options including covering VISA, MasterCard, bank transfer, Apple Pay, and more.
OKX claims to be the largest crypto spot & futures exchange in the world. Most crypto exchanges charge two different types of trading fees: taker fees and maker fees. The taker is the person who picks up an existing order from the order book. The maker, on the other hand, is the person who creates an order that is not immediately matched against an existing order on the order book. Makers are often rewarded for creating liquidity on the platform by a lower trading fee than takers. Exchanges that do not make a distinction between takers and makers charge what we call “flat fees”. OKX charges 0.10% for takers and 0.08% for makers.
OKX: Deep Liquidity
On 18 July 2019, OKX made history when it had the highest volume in the world worth USD 2.47 billion. The volume has been consistently growing since then and now it has grown up to $16billion+ in total according to CoinMarketCap. OKX is a well-backed institution and has very deep liquidity to avoid high slippage during a trade.
The interface of OKX might seem complex to a new trader if the trader is buying directly from the trade option. However, the interface is pretty simple yet well equipped for an experienced trader.
OKX has two charts, one is native and the other is the TradingView chart. The interface is customizable and you can move the cards anywhere on the screen. You can choose your favorite pair from the top-left corner of the screen and then choose the order type. There are 5 main types of orders in spot.
- Limit Order
- Market Oder
- Advance Stop
The native chart of OKX has only a limited number of indicators to predict chart movements and trends however, OKX has solved the trouble by introducing the TradingView chart with all its functionality and indicators.
- OKX Wallet:
Besides the OKX exchange, OKX has a wide ecosystem which adds to its inevitability of growth and sustainability in the cryptocurrency. OKX wallet is an important plant of its universe. When you use a Bitcoin wallet that is provided by a reputable, trusted provider such as OKX, users’ private keys are kept highly secure, ensuring that whether you are sending, receiving, or trading BTC, your cryptocurrency is always in safe hands. Your journey begins with your decentralized, Web 3.0 wallet — sometimes also referred to as a DeFi wallet. It’ll serve as your gateway to the OKX DeFi Hub — including — and many other decentralized protocols and DApps across multiple blockchain networks.
You can create your OKX Wallet here.
- OKX Academy
The good thing about these cryptocurrency exchanges is they want people to be educated about cryptocurrency and the blockchain world and some of these even reward their coins for learning. OKX academy is working on the same mission. You can find hundreds of blogs and articles on cryptocurrency and blockchain to guide you from the very beginning. The academy also teaches the terms and explains the features of OKX and its Ecosystem.
OKXChain is the native blockchain of OKX like Binance has Binance Smart Chain. The Blockchain has performed 89,289,502 transactions to date. The native coin of OKXChain is (OEC) OKT. The live OKXChain Coin price today is $31.75 with a 24-hour trading volume of $365,971,199. The current CoinMarketCap ranking is #2925. The circulating supply is not available and a max. supply of 11,547,688OKT coins.
OKX Social Links:
OKX has a community of 20M+ and growing every day. If you want to be a part of it and stay up-to-date about news and events, you can find their social media links here.
OKX exchange has a rich ecosystem and just like any other exchange comes with many pros and cons. It doesn’t compare to Binance huge ecosystem and mature liquidity yet it can prove to be a good alternative to since yet Binance is facing restrictions worldwide.