The success and popularity of a cryptocurrency exchange depend on whether it comprehensively captures the needs of crypto enthusiasts. Some enthusiasts may focus on basic crypto trading features, others may look for digital assets like NFTs and games, while others may just be looking for a superior cryptocurrency wallet. This OKX crypto exchange review sets out to investigate whether the exchange is an all-round platform plus its unique features.

 

Rating

64

Location

Seychelles

Contract types

USDT, Crypto

Maker fee

0.02 %

Taker fee

0.05 %

Max leverage

100x

US allowed

No

Deposit methods

Crypto, Credit Card

Average funding fee (BTC)

0.0073%

What is OKX Crypto Exchange?

OKX is a centralized crypto trading platform that draws inspiration from blockchain technology to provide advanced and reliable financial services. It has millions of users spread across more than 100 countries.

Products and Services

The exchange offers products and services that can be found on virtually any crypto trading platform and others that only a select few in the industry offer. OKX offers spot, derivatives, margin, and P2P products starting with the common ones. The exchange also offers other services like lending and Ether (ETH) staking.

Next to these products are a web3 marketplace and an independent OKX web3 wallet. The web3 marketplace focuses on trading non-fungible tokens (NFTs) issued on blockchains like Ethereum and Bitcoin inscriptions for projects running on the Bitcoin network like Bitcoin Ordinals and Runes.

Apart from enabling the trading of Bitcoin-powered assets, OKX’s web3 marketplace allows its users to create assets on the Bitcoin blockchain, especially when interacting with the Runes protocol

That’s not all. The marketplace also acts as a place to support web3 gaming projects. On the other hand, the exchange’s web3 wallet is a multipurpose standalone wallet that you can use to store crypto, and NFTs, trade, and access the decentralized finance (DeFi) world.

Listed Coins, Trading Pairs, and Fees

OKX supports over 350 cryptocurrencies and has over 500 trading pairs across various offerings such as spot, futures, options, and margin. The OKX crypto exchange uses trading levels to determine how much fees you need to pay. The transaction fees are also determined by whether it’s paid using the platform’s native coin, OKB. Note that your 30-day trading volume determines your trading level.

Level one (Lvl 1) to level five (Lvl 5) users, for example, pay between 0.06% and 0.08% in fees for market makers and between 0.06% and 0.1% for market takers for spot trades. The fee rate is different for options and futures traders.

Security

The OKX exchange uses innovative security measures like employing a mix of multisig-based cold and hot wallets to safeguard user funds. It also has what it calls “OKX Risk Shield” which is essentially a reserve fund to act as a buffer in case users lose funds.

User Interface and Customer Support

The crypto trading platform has a relatively easy-to-use interface with most items positioned in easy-to-find areas. Its customer support is robust with users able to reach OKX’s customer service desk through a dedicated web platform and multiple social media accounts.

Final Remarks

The OKX crypto exchange is an innovative crypto trading platform offering regular and unique products to provide an all-round user experience. Its security and robust customer service further add to the platform’s appeal among existing and prospective users.