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Review of OKX Exchange (2024)
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.
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OKX Overview
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.
- Huge variety of coins with large amounts of trading volume
- Exceptionally low trading fees
- Headquartered in Malta
- One of the most respected cryptocurrency exchanges
OKX Pros & Cons
Pros
Wide variety of coins and tokens, 670 market pairs
Passive income with Earn
Easy sign-up with no identity verification required
Native OKX blockchain gives users access to Decentralized Finance
Cons
Can only fund with crypto unless you want to use a 3rd party
Not available to US customers
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
- Done!
- 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)
- OKB
- Ripple (XRP)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Polygon (MATIC)
- Internet Computer (ICP)
- Tether (USDT)
- Filecoin (FIL)
- THETA
- 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.
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. For a full look at their fees click here.
OKX Frequently Asked Questions
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.
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.
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.
Yes! You can earn passive income using OKX’s Earn Program. Earn is a handy aggregation of ways to earn interest on your crypto portfolio. You can choose from the best options from OKX, decentralized finance, and staking so that you can maximize your earning potential options. If you choose to use a DeFi service, you may also earn bonus tokens.
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. For more information please visit this page.
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.
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.
