OKX, according to its statements, positions itself as one of the most reliable cryptocurrency exchanges. It was founded in 2017 by the Old Xu (Star Xu) and was previously called OKEx. In January 2022, the "extra" letter was removed from the name in order to emphasize the scaling of the site. This was due to the fact that the company expanded its activities beyond the simple trading of cryptocurrencies.

OKX is now one of the ten largest cryptocurrency exchanges. The average daily trading volume is over $800 million, and the number of registered users exceeds 20 million.

OKX exchange offers a wide range of tools for both experienced traders and beginners. More than 350 cryptocurrencies are available on the platform in more than 300 markets, as well as several passive income options, including copying transactions and crypto loans. In addition, the company has developed its own OKB Chain blockchain and Web3 wallet, as well as added DeFi tokens, NFT marketplace and other innovative features to its services.

OKX actively interacts with its community through various platforms, including Telegram, Facebook, Twitter, Discord and others.

Cryptocurrency Trading

OKX provides a wide range of functionality, including spot, margin and futures trading. Customers can buy cryptocurrency using a card, participate in betting or liquidity pools to generate passive income. The exchange's terminal is designed with user convenience in mind, and a demo account for trading training is available for beginners.

Spot trading

Spot trading is the process of immediately buying or selling an asset based on the current market price. For example, if you want to buy BTC for USDT, you need to place an order on the market, specifying the number of bitcoins you want to purchase and the price per bitcoin. As soon as your order is executed, you will immediately receive the purchased amount of BTC to your account on the exchange.

Spot trading is a basic trading tool and is associated with market risks due to the high volatility of cryptocurrencies.

Margin and futures trading

Margin trading on OKX allows traders to use borrowed funds from the exchange to open positions on the spot market. This makes it possible to increase the volume of a trading position and, consequently, the potential profit. The maximum leverage on OKX is 10x, which means that the exchange will increase the amount of cryptocurrency in your order by 10 times. However, your own funds will be used as collateral for the transaction.

Futures trading on OKX is the purchase or sale of contracts where the value of the cryptocurrency is fixed for a future date. OKX futures contracts are settled weekly, biweekly and quarterly, and all contracts are traded in pairs with USDT. Leverage up to 125x is available for this instrument.

Two types of margin can be used on the OKX exchange: isolated and cross-margin. When using an isolated margin, the trader transfers funds that will be used as collateral for the transaction from the main account to the trading account. If a cross margin is selected, the entire cryptocurrency balance on the account will be used to secure the order.

Commissions on OKX

On the OKX exchange, commissions depend on several factors:

• The number of OKB tokens on the user's balance: The more OKB tokens you have on your balance, the lower the trading fees.

• Trading volume: When the trading volume reaches over $10 million per month, the maker's commission drops to 0, and for the taker it is 0.04-0.02%.

• Using leverage: An additional 1% commission is charged daily for using leverage.

• Cryptocurrency input and output: OKX does not charge a commission for the input and output of cryptocurrencies, however, the user will have to pay a gas Fee - the blockchain commission.

• Purchase of cryptocurrency: A fee is charged for the purchase of cryptocurrency using a fiat provider, the amount of which depends on the currency and the amount of the transaction, but usually does not exceed 3.5%. However, there is no additional fee for P2P transactions.

Basic fees:

Type	Maker's commission	Taker's Commission
Spot trading	0.08%	0.1%
Margin trading	0.08%	0.1%
Futures trading	0.02%	0.05%

OKX Financial Products

Simple Earn

The "Simple Earnings" program on the OKX exchange provides a staking opportunity to generate passive income. Users can transfer their unused tokens to the exchange, and receive interest payments for this. The exchange uses the coins involved in betting to issue loans.

The advantages of the "Simple Earnings" program include:

• Low entry threshold: 

Users can start staking with a small number of tokens, for example, from 0.03 BTC.

• Favorable terms: 

OKX offers some of the most profitable staking programs among crypto exchanges.

• Flexible deadlines: 

Users can choose between flexible or fixed-term staking. In the first case, the coins can be returned at any time, in the second - only after the expiration date.

The exchange also guarantees a full refund of the funds from the stake. However, there are disadvantages:

• Inability to withdraw coins quickly:

When betting with a fixed term, coins cannot be returned quickly, which can lead to losses in the event of a sharp decrease in the price of the token.

• High minimum limit for stablecoins: 

To receive income from unused stablecoins, participation with an amount of at least 2000 USDT is required.

• Commissions for withdrawal from staking: 

When withdrawing coins from staking, users must pay blockchain commissions.

Joining the "Simple Earnings" program is simple: you need to select the appropriate section on the exchange, select the appropriate program, specify the number of coins for betting and confirm the action. Interest accrual starts from the first day, and the withdrawal of coins is carried out in the same way.

Earn Onchain

The Earn onchain on the OKX exchange is a staking using the Proof of Stake protocol for decentralized tokens. Users can add DeFi coins to pools that are used to protect the blockchain and secure transactions. In return, customers receive additional coins as a reward.

The advantages of on-chain staking on OKX include:

• Wide range of products: 

Users have access to a variety of products for on-chain staking.

• No commission: 

Unlike some other exchanges, OKX does not charge fees for participating in on-chain betting.

• Minimum limits: 

The Exchange sets low minimum limits for participation in on-chain betting, which makes it available to a wide range of users.

Interest is accrued daily, and the main part of the staking programs offers flexible conditions, allowing users to withdraw their funds at any time. However, fixed-term programs are also available, where the remuneration may be higher.

To select a product and add coins to on-chain betting on OKX, users can go to the "Growth" section on the exchange and select the appropriate program.

Shark Fin

The structured products section on the OKX exchange provides an opportunity to earn money by predicting the movement of the cryptocurrency market. The process is quite simple: the user chooses a specific bull or bear market forecast for BTC or ETH. If his prediction turns out to be correct, he receives a reward, which is calculated from the number of tokens placed on this result. In case of an incorrect forecast, the user does not lose anything, the entire amount is refunded in full.

To learn more about the structured products program on OKX, you can go to the "Growth" section, select "Structured Products" and then go to the "Shark Fin" section. There you can get acquainted with the details of the program and decide on its participation.

OKX Token

OKX exchange has released a token for internal needs - OKB, which was launched in 2019 with an initial price of $1.25 per coin. During its existence, the value of the token has increased by more than 3,000%.

OKB was originally created to encourage and support the community on the OKX exchange. OKB owners receive a number of privileges, including discounts on trading commissions, special conditions for OKB staking and access to new projects on the launchpad.

The OKB token is available for purchase on the spot market of the OKX exchange, as well as for fiat through the cryptocurrency express purchase section. It is also traded on several other popular crypto exchanges.

Mobile application

OKX offers an app for Android and iOS smartphones that can be downloaded directly from the app stores. Additionally, there is a QR code on the main page of the site, which allows you to quickly go to the application page in the App Store or Google Play Market.

The OKX application is available in three versions:

• Lite: 

Provides access to basic functions, including the ability to buy cryptocurrencies, trade on the spot market and participate in betting. Its interface is as simple and user-friendly as possible, which makes the process of trading and asset management easy and intuitive even for beginners.

• Pro: 

In addition to basic functions, it expands the user's capabilities by providing access to margin trading, derivatives market and trading bots. This allows more experienced traders to use a variety of strategies and tools to work effectively on the stock exchange.

• Web3: 

Is a DEX version that combines the functionality of the wallet, the NFT marketplace and tools for trading in decentralized markets. This allows users not only to manage their assets, but also to participate in trading on decentralized platforms and interact with NFT.

All three versions are implemented in one OKX application, and the user can easily switch between them through the personal account menu.

Safety 

OKX takes care of the security of client funds and data by applying several security measures:

• Storage of funds: 95% of users' funds are stored in reliable cold wallets created by the platform, which provides an additional level of security. The remaining 5% are on hot wallets, but with comprehensive protection, including risk management systems, multi-signature and automatic verification before conducting a transaction.

• OKX Risk Shield Reserve Fund: This fund is designed to cover all losses in case of wallet hacking, which creates an additional level of security for users.

• Proof-of-Reserves Audit Mechanism: OKX has implemented this mechanism to ensure transparency and verifiability of reserves storage. Information about reserves is published openly on the website.

• User Data protection: Standard methods such as SSL encryption, anti-phishing protection and two-factor authentication are used to protect user data.

• KYC/AML Policy: OKX adheres to the Know Your Customer (KYC) and Anti-Money Laundering (AML) policy, which helps ensure security and compliance with regulatory standards.

Reviews

Reviews of the OKX exchange are mostly positive, which confirms its huge popularity and excellent reputation among users.

Users highlight the following positive aspects of the exchange:

• A wide range of trading instruments: 

An excellent selection of trading instruments, tokens and trading pairs makes OKX an attractive platform for traders of different experience levels.

• High-quality trading terminal: 

Many experienced traders note that the exchange offers one of the best trading terminals, which allows them to trade effectively.

• Simple and intuitive staking programs: 

Beginners appreciate the wide range of staking programs with simple and clear rules, which makes it easier for them to participate in this process.

There were practically no negative reviews about the exchange. The only neutral point that some users note is the limited number of ways to use fiat money.

The exchange's application is also in great demand due to its user-friendly and fully functional interface. The average rating of the application is 4.65 out of 5, which indicates its quality and popularity among users.

Support Service

The following communication methods are available to contact OKX support around the clock:

• Online chat on the website: 

Users can contact the support service directly through the online chat on the official website of the exchange.

• Telegram: 

Another way of communication is Telegram chat. Users can send a message to OKX's official Telegram channel for help.

• Discord: 

For those who prefer voice communication, OKX provides the opportunity to contact support via voice chat in Discord.

The support service speaks English, however, if necessary, an interpreter can be used to ensure effective communication with users in other languages.