In addition to Earn products, OKX users can utilize their crypto holdings to magnify their exposure in the digital currency markets via crypto-collateralized loans. Funds borrowed via crypto loans can be used across the platform’s numerous services, including spot and derivatives offerings, and Earn products. OKX allows users to take advantage of creating additional revenue streams via its “Earn” suite of products and services. The exchange features DeFi-oriented features, like token staking and providing liquidity to lending pools. For users that are more risk-averse, OKX offers savings products-including stablecoin, Bitcoin, and other coins-in flexible and fixed variety.
Opening an OKX Account
Decentralized exchanges allow traders to be in full control of their money and directly transact with other traders. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor. Now, in most cases, I’d recommend getting a secure crypto wallet, such as Ledger and Trezor, to protect your assets; however, it seems that OKEx took care of it. OKEx has its own cold wallet that will keep your private keys offline.
Step 1: Download OKX and Create an Account
This basically means that margin will be drawn from not only your futures account where the funds are but also from the other accounts where you have funds. If okex review you expand the chart, you will notice that you have two options to trade with. One is the default chart offered by OKX, and the other is the Tradingview chart.
- The OKX App offers a reliable and highly functional cryptocurrency trading platform with advanced and highly secure features.
- The exchange platform (i.e. Binance) acts as a middleman – it connects you (your offer or request) with that other person (the seller or the buyer).
- We are independently owned and the opinions expressed here are our own.
- There are several additional sections where the users can earn, check markets, access their OKX web3 wallet, and discover rewards as well as educational resources.
OKX Trading Guide 2024: How to Trade on OKX
- It would be more effective if the international support team on social media asked for the user’s location to provide more relevant assistance.
- Competitive fees are vital for frequent traders, boosting net profits, especially in high-frequency and algorithmic trading.
- You can hold a position without any time limit and withdraw your realized profits anytime with a perpetual future.
- If you are buying with fiat, OKX uses several third-party services.
- OKX also offers an AI chatbot to direct users to relevant articles.
- With global access (though with some restrictions), it attracts traders through its diverse trading options, competitive fees, and a user-friendly mobile app.
OKX has 1,253 leaders who can be filtered by PnL%, PnL, win rate, and AUM, meaning it’s far more active than crypto copy trading exchanges like PrimeXBT. OKX comes with a set of gamified tutorials for new users, who can complete “learning missions” to earn small amounts of bitcoin. Those looking to hone their skills can engage in demo trading, which lets them practice the mechanics of crypto trading using fake money. If you know what you’re doing, you can move on to the full spot trading interface. While it looks intimidating, it’s actually not hard to understand as long as you know a little about the basics of trades. If you own an asset that OKX doesn’t support, you can add it to your wallet, convert it to another asset, then trade with it as normal.
- However, at the time of writing, OKX is not regulated by more prominent bodies like the FCA or AUSTRAC.
- In concluding this guide, it’s essential to emphasize the significance of managing emotions like fear and greed in the speculative cryptocurrency market.
- I will also give you some top tips that you need to know when using the platform.
- Once logged in, you can view account balance and access features for spot, futures, options, and other trading needs.
- Selling crypto for fiat can confuse new users because the option to sell crypto is only accessible by clicking the “Buy” option — there’s no direct “Sell” option.
- However, it’s crucial to note some user reports of low liquidity levels in certain currencies, posing potential challenges in executing large orders without affecting market prices.
Support okx – bad people
Even if trading is not your forte, the platform has solutions letting you earn interest on your digital assets. When it comes to trading fees, this is where OKEx really stands out from the crowd. OKEx distinguishes its traders into Normal and VIP users based on their previous trading volumes over the prior 30 days. We created a unique trading test to evaluate the quality of customer services for diverse user needs. We personally contact support using all available methods and present hypothetical problems that users might face. Our evaluation concentrates on how quickly they respond, the quality of the help provided, and whether we can talk to a real person rather than a bot.
