We are a professional review site that receives compensation from the companies whose products we review. We test each product thoroughly and give high marks to only the very best. We are independently owned and the opinions expressed here are our own. You can start a live chat from anywhere in the help center, but it’s also not especially friendly — in fact, its main purpose seems to be delivering ads.
Ease of Use and Interface
The exchange offers users to contact the support team via phone, email, submit a ticket form, WhatsApp, and live chat that is available on desktop and the mobile app. In addition, OKEx has a great FAQ section a ‘join the community’ section where you can find answers and communicate with other members on the platform. Apart from being a trading exchange, OKEx also provides cryptocurrency financial services. This means you can invest your crypto assets to earn interest and take out crypto-backed loans as required. A Funding Account primarily serves as a digital bank account for your cryptocurrencies. From here, you can send, receive, and trade your digital assets to and from other wallets.
they trust an idiot who thinks he is smart to run an exchange
OKX users have access to several innovative trading features and financial tools, making the exchange a leading one-stop cryptocurrency platform. If you’d prefer a slightly more reliable source of income, OKX offers several options for putting your cryptocurrency to work making money passively. You can put your tokens into high-yield savings accounts that OKX uses to loan out money, just like a normal bank. Regular users advance okex review through the ranks by holding OKB, the coin pegged to OKX’s business performance (not to be confused with OKTC, the token for its technical infrastructure). The more OKB you hold, the higher your tier and the less you pay per transaction. Perhaps worse than the 2020 arrest incident is a 2018 investigation by crypto trader Sylvain Ribes, which argued that OKX (then OKEx) had faked 93.6% of its total trading volume.
- Quite good actually, OKX fees are among the lowest in the industry, so no need to worry about breaking the bank here.
- Please note that wire transfer fees may fluctuate depending on your bank and any intermediary banks involved.
- For everyone else, our verdict on OKX comes down to whether it’s learned from the false volume incident and the fallout from its CEO’s arrest.
- But for withdrawals, this does not exempt you from certain charges such as the network fee.
- However, the network fee originates from the blockchain load and is hence not an OKEx withdrawal fee.
- Finally, there is a dropdown at the top of the charts where you can observe the “Greeks” of the options.
Diverse Trading Pairs for a Diverse Portfolio
Imagine having exceptional functions and thousands of cryptocurrencies to choose from, just to one day log into your account and see that all of your cryptocurrencies are gone. At first they looked like decent company, but after several months it quickly became unprofessional. Later they banned my account (thank god i didn’t had any money left there) because i broke “a rule” from section 2 and 3 of ToS. Any tries to contact them was pointless.If you want to play with fire, you can try them… On the other side, there have been several issues surrounding the platform founder and other backers of the exchange, particularly from China. This includes multiple arrests with the most recent of Xu being at the end of 2020 amid fraud accusations which led to a temporary suspension of account withdrawals on the platform.
Earn Interest on Cryptocurrency
To benefit from its features, OKEx first requires you to have a verified user account. OKEx was founded in 2017 with headquarters in Malta and the Republic of Seychelles. CEO of OKEx, JayHao, had a background in game development and the semiconductor industry before joining the cryptocurrency space.
From a user’s perspective, OKX’s selection, while not the broadest, is meticulously curated, ensuring quality over quantity. OKX, initially headquartered in Beijing, China, has expanded globally and is now headquartered in the Seychelles. Despite its origins, OKX is subject to a comprehensive ban by Chinese regulators, indicating a significant pivot away from its initial base. This shift includes a formal announcement of its withdrawal from the Chinese mainland market, emphasizing its global operational approach rather than being identified as a Chinese company.
They just blocked my 5yo account for…
Deciding whether OKX is better than Coinbase depends on individual needs and preferences. OKX offers a wide range of cryptocurrencies and advanced trading features suitable for experienced traders. Its low trading fees and diverse financial products, such as futures and options trading, are appealing to those looking for more sophisticated trading tools. Ultimately, the choice between OKX and Coinbase hinges on your trading experience, preferred features, and security concerns. Regularly featuring among the top 10 global exchanges by 24-hour trade volume, OKX offers fiat-to-crypto and crypto-to-crypto trading on more than 100 digital currencies.
It’s akin to Binance’s learning hub, providing a comprehensive understanding of the crypto world. OKX strikes a balance between beginner-friendly and advanced features, catering to both newcomers and seasoned traders. Despite its selectiveness, the OKX exchange occasionally lags in listing trending assets. For instance, it missed the initial hype of TIA, a setback balanced by promptly adding Jupiter (JUP) to its roster.