is okex safe

Whether you’re an experienced trader or brand new to bitcoin and cryptocurrency, our Customer Support team is here to help. For answers and feedback, email us at 24/7 support is available in multiple languages. Just like with the perpetual swaps, the normal users will have similar fees when trading options. However, the level to reach the VIP tier is much lower at only 1,000 BTC. The only difference in trading fees for the perpetual swaps comes in when you are a VIP and you have slightly higher taker fees and slightly higher rebates for the makers. There are CALL options which give you the right to buy and then there are PUT options which give you the right to sell some asset.

Why is Binance not on Coinbase?

Coinbase does not currently support Binance Chain (BEP-2) because it is a separate blockchain that is not integrated with our platform. … Any deposits sent from the Binance Chain into a Coinbase account will not be credited and your funds will be lost.

Registration on the OKEx platform is not a menace and is completed within a few minutes. Here is a step-by-step guide to the OKEx login process and how to register and start trading on the OKEx exchange. As with any asset, the values of digital currencies may fluctuate significantly. The price and value of any investment in digital asset products can fluctuate. All in all, the app’s user interface is good for both beginner and more professional investors. On top of that, OKEx offers a crypto mining pool, Crypto-to-Crypto loans, and staking. We write product reviews and comparison articles in the field of cryptocurrency.

Okex Vs Binance: Mobile App

It also reveals that the spot trading they offer make it possible to trade different types of crypto tokens both established and emerging tokens. In addition, advanced cold storage wallets are used to ensure optimal security. The OKex exchange platform is available both in-browser and in the form of desktop client software which is downloaded. The more professional nature of OKex’s exchange platform also means that it places more demand on hardware than the average cryptocurrency exchange. First off, OKB holders are eligible to obtain up to 40% off their trading fees, depending on which tier users qualify for.

is okex safe

There’s also a “demo trading” feature that allows novices to practice trading with no risk. OKEx’s Jumpstart Mining initiative allows you to farm DeFi tokens while supporting your chosen projects by staking OKB, OKEx’s ecosystem token. Under the “Learn” section of OKEx’s website, you can access dozens of beginner tutorials and videos to help you get started. OKEx also provides timely articles, industry analysis, and the opportunity to become an OKEx broker. The OKExChain is marketed as a high-performance network that facilitates decentralized governance and community-driven consensus. Tokens can be seamlessly listed and integrated on the chain without seeking approval in a centralised fashion.

Free Bitcoin Crash Course

Set price alerts to receive real-time notifications on your favorite cryptocurrencies. You can also view crypto prices in the spot, futures and options markets and adjust your trading strategies at any time.

is okex safe

The traded price of digital tokens can fluctuate greatly within a short period of time. On the negative side, the exchange lacks essential features for crypto investors. First, it is difficult to find market news and analysis., which means you’ll have to find a third-party tool that offers instant market updates. Further, the charts are not intuitive to derive insights and can be difficult to use.

The Description Of Okex:buy Bitcoin, Nfts & Meta

OKEx offers advanced financial services as well as excellent primers for anyone new to crypto. It boasts an impressive list of services that include flexible borrowing and ways to earn interest on staked tokens. OKEx 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 OKEx review to learn more about its many offerings. OKEx exchange gives you the possibility of creating sub-accounts used for crypto trading. These provide better portfolio optimisation, lower trading fees, trade segregation for transparency purposes, and access to API services designed to carry out algorithmic trading.

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Set up price-change notifications to alert you on changes in price on the coins you are keeping track of Both the app and web-based versions offer the same features. If you are not ready to bag the risks involved with trading crypto directly, a great alternative is buying shares and stocks of companies exposed to cryptocurrency.

Okex Us Customers

Derivative instruments are leveraged which means that you can magnify your gains / losses by a factor of many times. At OKEX, this can be up to 100x depending on the instrument that you are trading. This means that they have a number of servers around the world in order to ensure server uptime and manage trading demand. This means that the bulk of their funds are stored offline in a cold environment. After creating the account, you will have to complete KYC level 1 verification and then link your mobile number so the system can verify your identity. This process includes uploading your passport and recording a verification video according to the instructions provided by OKEx. 74% of retail investor accounts lose money when trading CFDs with this provider.

How safe is Coinbase?

While it is never 100% safe to keep your money on any online exchange, Coinbase has one of the safest web wallets you can use since it holds 98% of its assets in offline cold storage that cybercriminals cannot access.

However, CEO Jay Hao explained that this was FUD and the reason for the transfer of assets was due to scheduled maintenance. OKEx offers a user-friendly mobile application that can be easily downloaded from Apple Store or Google Play. Offers a wide range of crypto trading solutions like spot trading, margin trading, DEX trading, futures, options, perpetual swap, quick trade (one-stop marketplace). In summary, OKEx is one of the best exchanges in terms of liquidity, the supported assets, and features. Whether you are an advanced active trader or a one-time investor, you will find a solution on this platform. Further, the trading fees are below the average in the industry and the exchange has never been severely hacked.

Top 9 Best Decentralized Cryptocurrency Exchanges

However, it is still advisable to only store assets you will trade imminently in an exchange wallet and store the remainder of your funds in an offline hardware wallet. Options entitle the contract holder to buy and sell the underlying asset i.e. cryptocurrency on a fixed day in the future. It is different from futures contracts in that the person who holds the contract can choose to exercise the option of buying or selling the underlying asset within a specified time.

OKEx is hands down one of the best cryptocurrency exchanges we’ve come across over the years. If you’re a veteran trader, then Binance will be an excellent platform for you; however, if you’re entering the cryptocurrency trading space, OKEx is an excellent option. Using either of these platforms, you can tell these exchanges have tried to make trading as accessible and seamless as possible. Binance and OKEx platforms allow users to view their entire portfolio with relevant stats on the dashboard, which can be highly convenient for quick assessments of your growth.

Offers a large number of trading functionality like Volatility contracts and Crypto Indexes. Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. As an OKEx affiliate, you are entitled to a number of apart from trading commissions. For instance, you will receive support from OKEx regarding in-depth content and community collaborations, such as airdrops and AMA sessions. OKEx Exchange – One Of The Largest Cryptocurrency Exchange In The World. At the moment, OKEx accepts BTC, ETH & OKB as collateral to take out loans in USDT.

It is basically an algorithmic order type that allows users to avoid place a large order to avoid slippage. It will automatically breaks up a user´s large order into multiple smaller orders that are placed according to the latest best bid and ask price as well as the parameters set by the user. Which can also be reduced depending on the OKB tokens held in the trading account. OKEx charges the following fees from traders registered on the platform. It has an easy interface together with a separate mobile application. Easy to use interface allows both beginners and more experienced traders to trade crypto on the platform. Next, copy the wallet address into the digital wallet you own and transfer the cryptocurrencies.

Yet they’re happy with freezing everyone else’s account without good reason. Another way to reduce fees is to hold OKB, OKEx’s proprietary exchange token. Holding more than 2000 OKBs gives about a 40% reduction on fees.

  • In this OKEx review, we’ll explain the various features this exchange offers for traders and users, which stretch from in-depth trading features to crypto banking services.
  • OKEx stands out from the other players by offering the option to trade derivative instruments.
  • The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.
  • Liquidity is always available, yet the number of supported pairs is fairly low.
  • Further, the charts are not intuitive to derive insights and can be difficult to use.

It offers a long variety of services, including flexible borrowing options and methods to earn interest through tokens. OKEx cryptocurrency exchange provides basic and complex cryptocurrency trading instruments, crypto-mining, and DeFi liquidity mining for interested traders. OKEX allows both crypto-to-crypto trading as well as fiat-to-crypto trading. In the case of crypto-to-crypto trading, traders can directly start doing that once they have funded their trading accounts on the OKEx exchange. OKEx allows multiple types of trading options like spot trading, margin trading, futures trading pairs, options, DEXs, or perpetual swaps.

is okex safe

OKEx also offers Perpetual Swap Contracts, which are similar to traditional futures contracts, except with no expiry or settlement date. I have to first point out that Okex has one of the best communities. I earned 12$ from 20$ its a great great exchange with extremely fast in deposits/withdrawals.the community is also responsive. For example, you only have Bitcoin options to trade at the moment. There is also relatively limited liquidity for the options market especially those that are out-of-the-money. And, speaking of PC clients, OKEX has developed a program that is available on both Mac & PC clients. This is just as functional as the web based trading platform although it is likely to be a bit faster.

  • The product markets itself as safe, stable, open, flexible, global and reliable.
  • OKEx is a global bitcoin exchange that claims to be secured with bank-level SSL encryption and cold storage.
  • Offers fiat-to-crypto trading so users can easily enter into, and “cash out” their cryptocurrencies.
  • The OKex exchange offers the standard crypto-to-crypto trading most common for cryptocurrency exchanges as well as fiat to cryptocurrency trading.
  • OKEx is one of the best cryptocurrency exchange platforms for traders new to crypto as it provides innovative financial services as well as fantastic primers for newbies.
  • So, from the above you can see that those market makers will get a rebate if they are able to generate over 100k in BTC trading volume on a 30 day rolling basis.
  • Users can trade USD for Bitcoins, Ethereum (open-source distributed computing platform), and XRP .

Tokens are burnt every three months by having them sent to a non-access burning address. All burns are conducted transparently, and announced whenever they occur. While OKEx is a centralised exchange by definition, it has also launched decentralized trading through swaps. In this case, users can choose to add liquidity okex review to a pool, which rewards them a percentage of the transaction fees incurred. Trading is instantaneous and anonymous, as the DEX trading interface can be accessed without an account. For spot trading, a tier-1 regular user with an OKB holding below 500 can expect to pay a maker fee of 0.08% and a taker fee of 0.1%.

Overall, the exchange’s user interface is very friendly and interactive, particularly when compared to other exchanges such as Binance. The instrument page is very basic and inserting an order is extremely easy. While rumors have circled the internet of a possible hack, the exchange claims that it has never lost investor funds. The platform’s token security is built on a core private key encryption algorithm and industry-standard cold and hot wallet technology. More specifically, users can earn interest on their trading portfolio through decentralized finance options such as staking, maximizing potential profits on an annual basis. Once your OKEx account has been created and verified, it’s just a few simple steps from beginning your trading journey.

Author: Helen Partz

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