OKX Review 2025: Fees, Security, Pros & Cons

According to CMC data, OKX ranks fourth among the best crypto exchanges in terms of trading volume and liquidity. Therefore, if you are looking for a crypto trading platform that offers futures and spot trading with good liquidity, it might be your choice. Our OKX review will cover its pros and cons, security measures, fees, customer support service, and whether it suits your needs.

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OKX Exchange Review: Quick Summary

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What is OKX?

OKX, formerly OKEx exchange, is a global crypto trading platform known for its high-trading volume, deep liquidity, and ease of use. Star Xu founded it back in 2017. Initially known as OKEx, the company rebranded to OKX in 2022. They maintain a global presence in over 100 countries with offices in major hubs like UAE, Hong Kong, Singapore, Silicon Valley, and the Bahamas. OKX exchange services are offered by its Seychelles-incorporated and Bahamas-registered entities. OKX offers Web3 services in the United States, with an office in Silicon Valley, but does not offer centralized exchange services in the US.

The crypto exchange has an impressive selection of over 327 supported digital assets and 533 trading pairs, with popular options like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Tether (USDT), and many more. You can easily buy and sell these digital assets with over 100+ fiat currencies and 900+ local payment methods supported worldwide.

For experienced and high volume traders, you can employ advanced strategies using OKX’s derivatives offerings. These include traditional futures, perpetual contracts, and options contracts. It also provides ways to earn passive income on your crypto holdings. This includes staking, savings products, and other yield-generating opportunities like crypto loans.

About OKX’s Web3 portal, it has an integrated OKX wallet, a non-custodial multi-chain wallet that supports 70+ blockchain networks. It also connects to over 400 decentralized applications (DApps) and NFT marketplaces to explore the Web3 ecosystem.

Pros of OKX

• High-security measures: The app employs mandatory KYC (Know Your Customer) security measures, which help to verify user identities and protect against fraud. This process ensures that all users are legitimate, enhancing the safety of funds and personal information.
• Different account modes: OKX offers Lite, Web3, and Pro modes, allowing you to customize your experience. The Lite mode is designed for beginners, with basic buy/sell features. The Pro mode is for advanced traders who require more detailed charts and data to make informed decisions. Lastly, the Web3 mode provides access to decentralized finance (DeFi) and non-fungible tokens (NFTs).
• Web3 Wallet: The wallet is a useful tool for those interested in DeFi. It helps to participate in decentralized exchanges, lending, and borrowing without leaving the platform. The OKX Web3 wallet also supports NFTs, making it an all-in-one solution for users who want to manage both cryptocurrencies and NFTs in one place.
• Advanced Trading Features: It offers advanced trading options that make the platform stand out from competitors. These include margin and options trading, as well as futures contracts. Plus, OKX offers detailed charting tools and real-time data, allowing you to analyze the market in depth before making decisions.
• Buying Crypto with a Card: By allowing you to link your credit or debit cards, OKX eliminates much of the hassle associated with crypto purchases, which can be intimidating for first-time buyers.
• Low trading Fees: OKX is known for its low fees (0.08% maker and 0.01% taker), which is a major draw for traders looking to minimize costs. The platform offers some of the most competitive trading fees in the industry, particularly for high-volume traders.
• Wide Range of Cryptocurrencies Supported: It supports 327 crypto tokens and 533 trading pairs, allowing you to trade a variety of digital assets, from popular ones like Bitcoin and Ethereum to lesser-known altcoins. This broad selection ensures that you have plenty of options to diversify your portfolios and explore new investment opportunities.

Cons of OKX

• Not Available in the United States: Its exchange services are not available to OKX users in the United States. Due to regulatory restrictions, U.S.-based traders are unable to access the full range of OKX’s features, which limits its global reach. For U.S. users, it offers a separate platform known as “OKCoin” with limited trading options.
• Customer Support Issues: While OKX offers a robust platform, one area where it falls short is customer support. Many users have reported issues with getting timely responses from the support team, particularly when dealing with urgent matters such as account issues or fund recovery. Although OKX provides a help center with FAQs and guides, users often need direct assistance for more complex problems. Unfortunately, the slow and sometimes unhelpful customer service can be a source of frustration for many, especially when dealing with significant sums of money.
• Advanced features can be overwhelming: The OKX app prides itself on having a user-friendly design, especially with its lite, web3, and pro modes that cater to different user needs. However, some users, particularly beginners, may still find certain trading areas confusing. The advanced features, while beneficial to experienced traders, can overwhelm new users.

OKX Exchange Trading Review: Key Features

Spot Trading

Spot trading is the most straightforward way to buy and sell cryptocurrencies. OKX supports over 327 cryptocurrencies paired against popular currencies like USDT (a stablecoin pegged to the US Dollar), USDC, or even other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). It also offers charting tools, technical indicators, and various order types to further simply your cryptocurrency trading process.

Here are some of the popular spot market order types on the OKX crypto exchange:

• Limit: A limit order allows you to buy or sell a cryptocurrency at an exact price you set. The order will be executed only when the market price reaches your target price. This gives you greater control over your entry or exit points.
• TP/SL (Take Profit / Stop Loss): It helps manage your risk. You set a take-profit price (where you’d like to lock in gains) and a stop-loss price (to limit losses). Once either price target is hit, a corresponding market or limit order automatically triggers.
• Trailing Stop: This is a dynamic type of stop-loss order. Instead of a fixed price, you set a trailing amount (in percentage or currency). As the price of your asset increases, your trailing stop-loss follows along.
• Trigger: This order waits for a certain price or condition you set before placing a buy or sell order (which could be a limit or market order).
• Iceberg: An iceberg order breaks a large order into many smaller ones, displaying only a portion of your full order in the order book. This helps minimize price slippage when trading large amounts.
• TWAP (Time-Weighted Average Price): It splits a large order into smaller chunks executed over a specified time. This aims to achieve a price closer to the average price over that period.

Futures Trading

OKX offers a robust futures trading platform featuring 228+ cryptocurrencies. You’ll find support for up to 100x leverage on popular assets like BTC and ETH, while other coins like MATIC, ADA, XRP, DOT, and SOL have a maximum leverage of 50x.

The platform offers two main types of futures trading: Traditional Futures and Perpetual Futures

• Traditional futures have a predetermined expiration date after which the contract must be settled. In this case, prices may deviate more significantly from the underlying asset’s spot price as the expiration date approaches.
• Perpetual contracts do not have an expiry. This offers more flexibility for traders to hold their positions for an indefinite amount of time.

OKX cryptocurrency exchange also provides both cross and isolated margin modes. Cross mode utilizes your entire available margin balance across all positions. Isolated mode limits the margin used for each specific position. It helps in reducing risk by restricting losses in one trade from affecting other open positions.

Similar to the spot market, the OKX futures portal is equipped with an array of tools and order types to suit different trading strategies. These include market orders, limit orders, stop-limit orders, and advanced order types like trailing stops.

OKX offers four different types of futures trading modes: Margin free, Single-currency margin, Multi-currency margin, and Portfolio Margin.

• Margin Free: No upfront margin is required. Profits from open positions act as your collateral.
• Single-Currency Margin: Uses only one specific cryptocurrency as a margin for all your futures positions.
• Multi-Currency Margin: Allows using multiple supported cryptocurrencies in your account as a margin.
• Portfolio Margin: Calculates risk across your entire portfolio, potentially lowering margin requirements.

Margin Trading

This trading option allows you to borrow funds from OKX to increase your buying power. The OKX margin trading currently offers up to 10x leverage on popular assets like BTC, ETH, OKB, MATIC, SOL, and DOGE. Other assets support only up to 5x leverage.

To initiate a margin trade, you first need to have some of your own funds as collateral. This acts as security for the loan you’ll be taking from the platform.

There’s also a crucial concept called “maintenance margin.” This is the minimum amount of collateral you must keep in your account to keep your position open. If the market moves against you and your collateral falls below the maintenance margin, your position will be liquidated. That means your assets are sold to repay the loan.

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Options Trading

Options contracts are slightly more complex than spot trading. With options, you have the flexibility to buy (call option) or sell (put option) the underlying cryptocurrency at a set price (strike price) on or before a specified date (expiry date).  Importantly, you have the choice, but not the obligation, to do so.

OKX options are European-style, meaning you can only exercise them at expiry, not before. Unlike some platforms with stablecoin-settled options, OKX settles its options contracts in the underlying cryptocurrency (e.g., BTC or ETH).

Copy Trading

Copy trading lets you automatically mimic the trades performed by another trader, referred to as a “master trader.” On OKX cryptocurrency exchange, you choose a master trader based on factors like their past performance (PnL), trading strategy, and risk tolerance. When they open or close positions in the spot market, your account does the same trades. OKX copy trading is available for both spot and futures markets.

OKX provides a list of master traders with detailed performance histories, win rates, AUM, number of followers, PnL%, and more. Instead of copying master traders exactly, you can also set your own investment parameters. It offers flexible options to set either a fixed amount per trade or a maximum total investment amount.

P2P Trading

P2P, or peer-to-peer trading, is a way to buy and sell cryptocurrencies directly with other users. Here, OKX acts as a middleman. To protect P2P users, the platform uses a secure escrow system. This means that when you initiate a trade, the cryptocurrency involved is temporarily frozen by OKX until both the buyer and seller have confirmed the successful completion of the transaction. On OKX P2P, you don’t pay any fees to the platform for your trades.

The cryptocurrency exchange currently supports 4 cryptocurrency assets (USDT, USDC, BTC, and ETH) on its P2P market. OKX also supports more than 100 fiat currencies and 900+ payment methods, covering your local e-wallets, bank account transfers, credit/debit cards, and direct cash transactions.

Trading Bots

These OKX bots can create professional trading strategies, all automated. You can either use an existing bot or create your own trading bots with different strategies.

OKX offers 5 different types of trading bots: grid bots (spot, futures, and infinity grid), signal trading, arbitrage, DCA, and slicing bots.

1. Grid Bots (Spot, Futures, Infinity Grid): These bots work like a ladder of buy and sell orders. They aim to make small profits within a price range, buying when prices dip and selling when they go up.
2. Signal Trading Bots: They work based on third-party signals. You can either integrate TradingView or create your own trading signals. There is also a signal marketplace on the platform.
3. Arbitrage Bots: They look for tiny price differences across different markets (like spot vs. futures) and try to make quick profits from those gaps.
4. DCA (Dollar-Cost Averaging) Bots: These bots are all about steady investing. They buy a set amount of your chosen cryptocurrency at regular times. This helps smooth out the impact of price swings. It also consists of “Recurring Buys”.
5. Slicing Bots: The slicing bots are best for big trades or orders like Iceberg or TWAP (as discussed above). They break down a large order into smaller pieces and execute them over time to help get a better overall average buying price.

Liquid Marketplace

The OKX Liquid Marketplace is designed specifically for institutional traders and large-volume cryptocurrency traders. It functions as an over-the-counter (OTC) platform. This means trades are negotiated and settled directly between the two parties involved. This approach offers privacy, customization, and better pricing compared to traditional open-order-book exchanges.

Request-for-quote (RFQ) is another powerful tool within the OKX Liquid Marketplace. It’s essentially a way to source the best prices for your desired trade. An RFQ is your way of saying: “Hey, I’m interested in buying or selling this specific amount of a cryptocurrency, what’s your best offer?”

The RFQ is sent to multiple market makers (basically, professional liquidity providers) who compete to provide the most competitive price. This process can help you find significantly better deals than you might get on a standard crypto exchange.

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OKX Earn Services

Staking

OKX offers a variety of ways to earn passive income on your cryptocurrency holdings through staking. Simple Earn is the easiest way to start. It offers two categories:

• Flexible (Savings): This option allows you to deposit your crypto and earn interest with maximum flexibility. You can withdraw your funds anytime. Flexible options typically offer lower interest rates compared to fixed-term staking.
• Fixed (Staking): Here, you lock your crypto for a set period for potentially higher yields. During this time, your assets actively participate in securing the blockchain network, therefore earning a bigger reward. Interest rates on fixed staking depend on the specific cryptocurrency and the chosen lock-up time. For a rough idea, you can earn up to 100% APY on certain coins and even more.

Now, you have another option with “OKX Structured Products”. These products often combine staking with market predictions or strategies.

• Dual Investment: You predict if the price of a cryptocurrency will go up or down by a certain date. If your prediction is correct, you earn a high return. In this case, you deposit a single asset but get paid in a different one.
• Seagull: It is designed when you think the market will move much in one direction. With this product, you choose between Bullish BTC or Bearish BTC. You can potentially make bigger profits if the price of the crypto moves significantly as you expected.
• Snowball: This automatically reinvests your earnings back into the staking pool, essentially compounding your returns.

On-chain earning is another way to earn passive money on OKX. This option allows for direct on-chain staking, where you contribute to validating transactions on proof-of-stake blockchains. You can explore options like “ETH staking”.

Crypto Loan

The OKX Crypto Loan feature is a way to borrow cryptocurrency without having to sell your existing holdings. You use your cryptocurrency as collateral. This means you put up some of your crypto as a guarantee that you’ll pay back the loan. If you don’t, OKX can keep your collateral.

The OKX cryptocurrency exchange offers many assets for loans such as BTC, ETH, USDT, ALGO, APT, etc. You can choose loans with either flexible interest rates, which change hourly based on market conditions, or fixed rates for predictable costs. Flexible loans don’t have fixed repayment periods, so you have greater control over when you pay it off.

OKX features an average hourly APR of about 1% (subject to change). This means your interest rate changes hourly based on the lending market. How OKX determines this rate depends on factors like:

• Loan to Value Ratio (LTV): How much you borrow compared to your collateral’s value. Higher LTVs generally mean higher interest.
• Supply and Demand: How many lenders and borrowers are active influences the interest rate.

Jumpstart (Launchpad)

OKX Jumpstart acts like a launchpad for new blockchain projects. Currently, OKX launched 10 new projects on its Launchpad and raised a total of $4.27 billion.

It has different ways to participate. Sometimes you might “mine” tokens by staking existing cryptocurrencies you already own. In other cases, you might need to pledge the OKB token (its own cryptocurrency) to have a chance of buying the new project’s tokens.

OKX Decentralized Finance (DeFi) Ecosystem

OKX Wallet

With OKX Wallet, you can easily interact with decentralized applications (DApps), trade on decentralized exchanges (DEXs), explore NFT marketplaces, and much more.

It’s designed to be user-friendly. You can easily send, receive, and store an extensive range of 300,000+ cryptocurrencies across a whopping 100+ blockchains. The wallet also includes a built-in DEX for instant token swaps. The DEX aggregator searches through more than 500 DEXs and over 20 cross-chain bridges across more than 20 networks to find the best Bitcoin and crypto prices.

OKX Wallet is non-custodial, meaning you, and only you, hold the keys to your assets. The Wallet is available on different operating systems. You can use it as a browser extension or utilize the dedicated mobile app for both Android and iOS devices. And, for smooth transitions between platforms, you can easily connect your OKX Wallet to the OKX centralized exchange.

OKT Chain

OKX Chain, or OKTC, is an EVM-compatible layer-1 blockchain built on Cosmos (ATOM). The blockchain is also 100% open-source.

The OKT chain is capable of handling 5,000 transactions per second, which is very high compared to Ethereum 12-15 TPS. Using OKTC generally costs very little ($0.01) compared to some older blockchains like Ethereum. The OKX chain also has a native token (OKT).

NFT Marketplace

OKX also offers an NFT marketplace. It supports NFTs across a wide range of categories – art, collectibles, music, game items, and even virtual land. The platform isn’t restricted to a single blockchain.

OKX NFT marketplace supports NFTs on multiple chains like Ethereum, Polygon, Base, Solana, BNB chain, and more. This is because it gathers NFTs from all popular marketplaces like OpenSea, Blur, LooksRare, X2Y2, MagicEden, and many more. This gives you more flexibility as both a buyer and seller.

What Cryptocurrencies Can I Trade on OKX?

Currently, OKX supports an impressive selection of over 350 supported cryptocurrencies with a significant number of over 533 trading pairs. You’ll find coins focused on sectors like AI, the Metaverse, gaming, DeFi, smart contracts, and more.

While the number of coins is good, it might not be enough for people who want to invest in very new, low-cap coins. OKX usually focuses on listing older, more well-established coins. If you want those super new, riskier coins with the chance for big profits, exchanges like MEXC and Bybit often add them much faster than OKX.

Here are some popular cryptocurrencies you will find on OKX:

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT)
• Bitcoin Cash (BCH)
• USD Coin (USDC)
• Aptos (APT)
• Cardano (ADA)
• Solana (SOL)
• Dogecoin (DOGE)
• Polkadot (DOT)
• Polygon (MATIC)

OKX Fees

Spot Trading Fees

OKX uses a maker-taker fee model for spot and derivatives trading. This means that the fees you pay depend on whether you are adding liquidity to the market (maker) or taking liquidity away (taker).

OKX users are categorized into regular and VIP levels, depending on trading volume. Regular users are classified by their OKB holdings, while VIP users are classified based on their 30-day trading volume and the asset amount. As your trading volume or OKB holdings increase, you’ll also enjoy low trading fees.

First, let’s see what maker-taker fees look like with OKB holdings for regular users:

As for VIP users, here is what maker-taker fees look like:

Futures Trading Fees

Trading fees for futures contracts follow a similar tiered maker-taker model. For regular users, it starts with 0.02% maker and 0.05% taker. Similarly, it keeps decreasing with high trading volume and OKB holdings. For options trading, OKX charges 0.02% maker and 0.03% taker.

For more information, you can check out the full OKX fees overview.

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Deposit and Withdrawal Fees

OKX cryptocurrency exchange does not charge any fees for cryptocurrency deposits. However, do remember that you’ll still need to pay network fees (also known as gas fees) associated with transferring cryptocurrencies on the blockchain.

Withdrawal fees on OKX vary depending on the cryptocurrency you are withdrawing. These fees are also updated regularly to reflect network conditions.

For fiat currencies, if you use third-party services such as Mercuryo or Moonpay to buy crypto, expect to pay additional fees and spreads ranging from 2% to over 10%. Credit/Debit card transactions also charge variable fees based on your country.

Payment Methods

OKX supports a variety of payment methods for buying crypto or making deposits. As discussed above, it supports over 900 payment methods on its P2P marketplace. But, if you want to deposit directly on the platform, you have somewhat limited options.

• Credit/Debit cards (Visa and Mastercard)
• SEPA
• Bank account transfers
• iDEAL
• PIX
• Apple Pay and Google Pay (using debit cards)
• Moonpay
• Mercuryo

Deposit and Withdrawal Limits

Deposit and withdrawal limits on OKX can vary based on your fee level. Users with a higher VIP level will usually have higher limits. For fiat currencies, these limits can change based on payment methods.

OKX Security Measures

Take a look at some key security features of the exchange:

• Two-Factor Authentication (2FA): This is an absolute must! OKX supports 2FA through SMS, email codes, and authenticator mobile apps like Google Authenticator. This adds an extra layer of protection.
• Passkeys: While not yet as common, OKX is exploring the use of passkeys as an alternative to passwords. Passkeys are more resistant to hacking and phishing attempts.
• Anti-Phishing Code: You can set up a unique code that will appear in all genuine emails from OKX. This helps you quickly spot fake emails trying to steal your data.
• Cold Wallets: Most of OKX’s cryptocurrency holdings are kept offline in “cold wallets”. A smaller amount is kept in online “hot wallets” for daily transactions.
• Multi-Signature Technology: OKX uses systems where several authorized people need to approve transactions. This prevents any single person from making unauthorized movements of user funds.
• Proof-of-reserve data (PoR). The platform makes its solvency data public and you can verify it on DeFi blockchain explorers like Defilama. Currently, OKX has over $29.25 billion under its custody.
• OKX risk shield: It has an insurance fund set aside specifically to protect your assets in the unlikely event of a security breach. It is similar to Binance’s “SAFU”.
• Withdrawal Address Whitelisting: This allows you to whitelist addresses for withdrawing your funds. Any attempt to send user funds to an unknown address will be blocked.
• Mandatory KYC (Know Your Customer): OKX requires users to undergo mandatory KYC verification. This helps prevent illegal activity and ensures users are who they say they are.

OKX App Review

Many people trade cryptocurrencies on their phones these days. If you’re one of them, you’ll be happy to know that OKX has a well-made mobile app with user friendly interface, featuring advanced trading functionalities and robust security measures. It’s available for both Android and iOS phones. The OKX app has all the important features you need to trade on the go. You can check prices, place orders, and manage your portfolio from anywhere.

The OKX mobile app also has a handy “Lite” mode. This is designed for people new to crypto to have a simpler experience. However, more advanced traders might like the full set of features for better control over their trades.

OKX Restricted Countries

OKX may restrict users from certain countries due to regulatory reasons or other factors. However, the list of prohibited countries can change over time due to updates in regulations or company policies.

At the time of writing, some of the countries typically restricted by cryptocurrency exchanges OKX include:

1. Hong Kong (specifically derivatives-related services)
2. Singapore (margin and derivatives related services)
3. The United States of America including all U.S.A. territories
4. Canada
5. The Netherlands
6. The United Kingdom (derivatives-related services for retail users)
7. India
8. Japan
9. North Korea
10. Malaysia

And many more!

OKX Customer Support

When you’re dealing with crypto, it’s important to have good customer support if something goes wrong. OKX has several ways to get help if you need it. They have a help center on their website with lots of articles and answers to common questions.

For more specific problems, you can contact them in a few ways:

• Email: Send a message to [email protected]. They usually answer within a day or two.
• Live Chat: On the OKX website, there’s a live chat option where you can talk to a customer service person right away.
• Social Media: OKX also has accounts on Twitter and other social sites where you can contact them.

Customers seeking assistance can reach OKX customer support through various methods, including submitting an online support request, opening a live chat window, or emailing the company. Additionally, an online support center is available with answers to frequently asked questions.

The OKX cryptocurrency exchange also receives pretty good ratings, such as 4.6/5 on the App Store and 4.5/5 on the Google Play Store. However, OKX has only received a Trust score of 1.9/5 on Trustpilot. We noticed that some users have mentioned that OKX’s customer service can be slow sometimes.

User Experience: Is OKX Easy-to-Use?

OKX offers a good trading experience. They have a wide range of cryptocurrencies to choose from, and their trading fees are pretty low compared to some other exchanges. The mobile app is the cherry on top for on-the-go traders.

The trading platform itself is well-designed. It can be a little complex if you’re new to trading, but there are guides to help you get started. More advanced traders will find lots of tools for analyzing the market. These include charts and ways to set up different kinds of orders.

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OKX Customer Satisfaction

The exchange has received mixed feedback from users. The average rating of OKX hovers around the mid-range, with some users giving better than average marks in certain areas. Many users like the easy online experience, which makes the platform simple to use.

OKX is often praised for fast transactions, making it a good choice for quick trades. It also attracts users with its low fees, leading to several positive reviews, especially from those who want to save on costs.

However, there are some issues. A few users have reported lost funds, which is a serious concern. Many negative reviews mention poor customer service, especially when problems arise. Some users also complain about slow withdrawals, causing delays in getting their money.

Hence, while OKX offers some advantages, the negative reviews about withdrawals and support affect its average rating.

OKX Account Management

Managing your OKX account is straightforward across different platforms. You can access your account details easily through the OKX website on a desktop computer or through the mobile app. Both options provide a user-friendly interface for viewing balances, transaction history, and personal information.

If you encounter any issues, the help center is available with guides and FAQs to assist with common questions. The mobile app offers the same functionality as the desktop version, making it convenient for users to manage their accounts on the go.

OKX vs Other Exchanges

Binance and Bybit are popular alternative exchanges to OKX. Here is a brief comparison:

Explore our Binance vs OKX article for a detailed comparison of the two crypto exchanges, including fees, supported assets, trading options, user experience, and more.

How to Buy Crypto on the OKX Platform?

Step 1: Create an OKX Account

Go to the OKX website or download their mobile app. You’ll see a button that says “Sign Up”. Click it. You’ll need to give some basic information like your email address and create a strong password. OKX will send you an email to verify your account. Click the link in the email to activate your OKX account. Now, for security purposes, you have mandatory 2FA. You can use either SMS or Google Authenticator code.

Step 2: Verify Your Identity (KYC)

Before you can start trading, OKX needs to verify your identity. This is mandatory! This process is called KYC (Know Your Customer) and is a standard security step on most exchanges.

Go to your profile section and select “Verification”. Click on this and follow the instructions. Usually, you’ll need to provide a picture of a government-issued ID (like a driver’s license or passport) and a selfie. The verification process can take a little time, sometimes a few hours or even a couple of days.

Step 3: Deposit Funds

Once your account is verified, you’re ready to put some money in. Look for a section in the menu bar that says “Buy Crypto”. Now, you can use either “Express Buy” or “P2P trading”.

For this guide, we will be using “Express Buy”. Select your preferred fiat currency, cryptocurrency, and payment method. It may take some time for your deposit to show up in your OKX account, depending on the method you used.

Step 4: Trade Cryptocurrencies

Once the money is in your account, you can start buying crypto. Look for a section called “Trade” and select “Spot”. Here you’ll see a list of different cryptocurrencies that OKX offers. Find the trading pair you want to buy (for example, BTC/USDT or ETH/USDT) and click on it.

You’ll see a trading screen with charts and prices. Decide how much of the cryptocurrency you want to buy and what kind of order you want to place. A simple “market order” will buy your crypto right away at the current price. Once you’ve placed your order, OKX will do the rest and you will see your funds in the wallet.

Final Verdict

OKX is among the trusted crypto exchanges, with all popular coins and tokens to choose from. It has low fees, especially if you are a high-volume trader. The platform is also easy to use for beginners and there are lots of tools and features for experienced traders. OKX also has ways to earn interest on your crypto, which is a nice bonus.

However, the downside is that it is restricted in certain countries such as the US and India. Additionally, it does not list all new projects and low-cap altcoins for trading.

OKX Exchange Review: FAQs

Who is OKX Best For?

OKX is best for all ranges of cryptocurrency users. As a beginner, you will appreciate its features like spot trading, instant fiat-to-crypto convert, and P2P market for easy withdrawals and deposits.

Experienced crypto trader will appreciate its advanced trading tools, high leverage, and margin trading options. In case you like earning passive income, OKX is great for that too, with staking, savings, and DeFi features. If you are a Web3 explorer, it has a non-custodial wallet, NFT marketplace, and decentralized swap features.

Is OKX legit & safe to use?

OKX has a solid reputation as a legitimate and secure exchange. It has more than 50 million users in over 100 countries. It is licensed in the Bahamas and recently acquired a VARA registration in Dubai. The OKX cryptocurrency exchange also uses industry-standard security measures like cold storage, multi-signature wallets, and publicly available PoR data for transparency.

Can US residents use OKX?

No, US residents cannot access the main OKX platform. Regulatory restrictions prevent OKX from offering its full range of services within the United States. However, US residents can potentially explore OKX’s decentralized options, like the OKX Wallet and NFT platform.

Is OKX good for new traders?

OKX has a lot to offer new traders. It has simple buy/sell functions, educational resources, and demo trading to practice without risking real money. However, its more complex features, like margin and futures trading, could be overwhelming for beginners. If you’re new, it’s wise to start with the basics on OKX and gradually explore its advanced features as you gain experience.

Is OKX a Chinese company?

OKX has Chinese origins. It was founded by Star Xu in China in 2017. Due to changing regulations in China regarding cryptocurrency, OKX moved its headquarters out of the country. It currently operates from locations like Seychelles and Dubai.