OKEX CRYPTOCURRENCY EXCHANGE GENERAL OVERVIEW

If you are not ready to bag the risks involved with trading crypto directly, a great alternative is buying shares and stocks of companies exposed to cryptocurrency. However, that has fewer crypto rewards compared to a direct cryptocurrency exchange. Trading cryptocurrency assets comes with its risks but can be highly lucrative for intelligent traders. It is a great investment option for individuals looking to benefit directly from the ever-rising demand for digital currency.

One of the first steps, before you start trading crypto, is to find a reliable cryptocurrency exchange platform. OKEx is one of the most popular cryptocurrency platforms in the world today, with more than 20 million global clients. Here is a general overview of OKEx to help you find out whether to open an OKEx trading account today.

What is OKEx?

OKEx is an online cryptocurrency exchange platform that allows traders to trade various digital currencies, including Chia (XCH) and Bitcoin (BTC). Since its inception in 2014, OKEx has grown steadily, attracting over 20 million global users, thanks to its derivative products, lending and mining solutions and trade on the go nature.

Being a popular crypto exchange platform, OKEx uses cryptocurrency and blockchain technology to provide a diverse range of trading products for its clients. It is available in over 200 countries around the globe, providing hundreds of staked tokens to each client.

OKEx is one of the best cryptocurrency exchange platforms for traders new to crypto as it provides innovative financial services as well as fantastic primers for newbies. It offers a long variety of services, including flexible borrowing options and methods to earn interest through tokens. OKEx cryptocurrency exchange provides basic and complex cryptocurrency trading instruments, crypto-mining and DeFi liquidity mining for interested traders.

How OKEx Works

As we already mentioned, OKEx cryptocurrency exchange is a platform that provides a wide range of advanced financial services based on blockchain technology. It facilitates crypto trading through the provision of trading, investment and learning resources. Apart from futures trading, this crypto trading platform provides the following services:

• Margin trading
• Options
• Lending and Borrowing
• Perpetual swaps
• Decentralised Finance (DeFi)
• Crypto mining

Exchange Platform

OKEx cryptocurrency exchange is available in a web and app version, downloadable for both PCs and Smartphones. Trading platforms are relatively heavy sites that run on massive memory and high processing power. For that reason, a web version might not be your best option. A downloadable app eliminates the possibility of memory and processing-related crashes that are common with browsers.

Being a modern crypto platform, OKEx has a well-designed exchange platform. It resembles high-end typical financial market trading platforms and offers an easy-to-navigate user interface for maximum usability. The cryptocurrency platform also features a charting feature that would prove helpful for a trader of any level.

The user interface features intuitive dashboards where you can perform a wide range of trading activities including:

• Viewing and comparing cryptocurrency prices in real-time
• Buy and sell digital assets in a few simple clicks
• Analyse volume data while comparing token prices across a variety of exchanges
• Set up price-change notifications to alert you on changes in price on the coins you are keeping track of

Both the app and web-based versions offer the same features. Meaning you can predict prices and start exchanging crypto with a wide range of cryptocurrency trading instruments.

Exchange Market

OKEx cryptocurrency exchange is a modern platform. Therefore, it offers both crypto-to-crypto and fiat-to-crypto trading, which is standard for all cryptocurrency exchange platforms. The cryptocurrency exchange platform supports well over a hundred cryptocurrencies and tokens, with consistent improvements bringing in new ones regularly.

The OKEx cryptocurrency exchange market also offers options, perpetual swaps, and quarterly features that enable clients to speculate on the digital currency market. In addition, it compiles valuable data, such as current prices, recent volumes and open interest info, in an easy-to-understand manner, making it easier for interested traders to make investment decisions.

As we already mentioned, OKEx is an ever-improving cryptocurrency platform. Therefore, the pool of available products is ever-growing.

Fees

OKEx is one of the most popular exchange platforms partly due to its impressively low trading fees. Fees are categorised into two primary tiers, each with multiple levels. The categorisation of trading accounts into tiers is based on the average 30-day trading volume and the OKB held by the trader. OKB is the native crypto for the OKEx cryptocurrency exchange platform.

The exchange platform updates fees for crypto pairs for traders daily, ensuring a trader knows exactly what they’ll pay while trading different products.

The two tiers are for:

• Regular users
• VIP users

Regular Users

If you are a regular user, your fees are determined by the quantity of OKB you have. Meaning your trading fees would reduce as the amount of OKB on your ecosystem increases. Like any other crypto exchange platform, you will pay the maker fee if you are the initiator of the purchase/sell order. On the other hand, you will pay the take fee if you are on the other end of the purchase/sell transaction.

VIP users

The trading fees for VIP users are determined by their trading volume over a span of 30 days. Therefore, the more volume a VIP trader trades, the lower the trading fee.

How to Start Trading Crypto with OKEx

If you are interested in trading with the OKEx cryptocurrency exchange platform, you have to follow a few simple steps. Here is how to start trading margins and crypto with OKEx.

Step 1: Create an OKEx Account

The first step to begin trading with OKEx is creating an account. To create an OKEx trading account, you can click here https://www.okex.com/account/register?action=header_register_btn or visit the OKEx official website.

Key in the required details and enter a 6-digit OTP to verify and activate your account. You can use an email address or phone number to create your OKEx trading account. The OTP would be sent to your mobile phone or email address, depending on the option you use to create your account.

Step 2: Secure Your Account

Once you successfully signup for OKEx, the next step is to secure your account. To secure your trading account, click the “Security” button on the overview tab. Here, you can secure your account in four different levels: fund password, mobile verification, Google Authenticator and 2-factor authentication.

Fund password - You will need a fund password during trade, whether P2P trading, funds withdrawal from your OKEx wallet to an external wallet and for internal transfers to other exchanges within the exchange platform.

Mobile verification - You need mobile verification to confirm cash withdrawals, reset your password, confirm changes to your security setting and get verification codes.

Google authenticator - Adding Google authentication to your OKEx account adds an extra degree of protection. Ensure you note your Google authentication code and keep it safe for future use.

2-factor authentication - Enabling 2-factor authentication ensures your account is a little safer as it would request a code for login and cash withdrawal.

Step 3: Verify KYC (Know Your Customer)

KYC verification is essential for withdrawing funds from your OKEx trading account. However, you do not require it to deposit or exchange cryptocurrency. Click the “Verification” button on the overview tab to start KYC verification.

Step 4: Set Preferences

Once you complete all security-related settings, you should set your preferences. That involves selecting your preferred language from the 12 available options. There are also 9 currency options to choose from. To set preferences, click “Preference” from the overview tab.

Conclusion

OKEx is a high-level crypto trading platform with global recognition and ambitions. It offers an extensive list of cryptocurrency trading instruments for both big and small crypto exchanges. Create an OKEx trading account today to enjoy professional-level trading at low exchange fees.