OKX is a global, unregulated cryptocurrency and crypto-derivatives exchange. Formerly known as OKEx, the platform rebranded to OKX in 2022. Owned by OkCoin Group, OKX operates in over 100 countries but excludes users based in the U.S. and Canada (Ontario and Québec).
👉 Explore OKX’s trading features
Key Highlights
- 350+ cryptocurrencies listed
- <0.10% trading fees
- 120M+ registered users
- Supports spot, margin, derivatives, and NFT trading
- Earn interest via staking, lending, and DeFi services
Pros
- Competitive fees
- High liquidity and trading volume
- Multiple fiat payment options
- Advanced trading tools (bots, APIs)
Cons
- Not available in the U.S. or Canada
- Unregulated by financial authorities
- Past controversies (wash trading allegations)
About OKX
Founded in 2017 in China, OKX relocated to Seychelles after China’s crypto ban. The exchange ranks among the top platforms by MarketCap but has faced scrutiny over inflated trading volumes.
Controversies
- 2018: Reports indicated 93% of OKX’s volume was fake.
- 2020: Founder Star Xu was arrested for fraud, triggering withdrawal suspensions.
- 2022: Forbes revealed discrepancies in reported Bitcoin volumes.
Supported Cryptocurrencies
OKX lists 350+ digital assets, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Dogecoin (DOGE)
- Shiba Inu (SHIB)
- Polygon (MATIC)
The platform’s native token, OKB, offers fee discounts and utility benefits.
Fiat Support
OKX doesn’t directly handle fiat but supports 30+ currencies via third-party providers (Visa, MasterCard, ApplePay, Banxa).
Fees
- Spot Trading: 0.08% maker / 0.10% taker (USDT pairs).
- Derivatives: 0.020% maker / 0.050% taker.
- Fiat Purchases: 1%–5% fees via credit cards/payment gateways.
Key Features
- OKX Convert: Fee-free crypto swaps.
- Margin & Derivatives Trading: Leverage up to 10x.
- P2P Marketplace: Trade directly with users.
- OKX Earn: Staking, lending, and DeFi options (up to 15% APY).
- Trading Bots: Grid, DCA, and arbitrage bots.
Security Measures
- Cold storage for assets.
- Two-factor authentication (2FA).
- Anti-phishing codes.
⚠️ Past Incidents:
- 2017: Users reported unauthorized withdrawals (~600 BTC).
- 2020: Hackers stole $5.6M via Ethereum Classic exploit.
How OKX Compares to Binance
| Feature | OKX | Binance |
|--------------|-------------------|------------------|
| Fees | 0.08%/0.10% | 0.10%/0.10% |
| Assets | 350+ | 350+ |
| Fiat | Indirect | Direct |
| Security | Unaudited | Unaudited |
Final Verdict
OKX offers a robust suite of trading tools but lacks regulatory oversight. Ideal for advanced traders outside restricted regions.
FAQs
1. Is OKX available in the U.S.?
No. OKX restricts access for U.S. and Canadian users.
2. What are OKX’s trading fees?
Fees start at 0.08% for makers and 0.10% for takers on spot trades.
3. How secure is OKX?
The platform uses cold storage and 2FA but has faced security breaches in the past.
4. Can I stake crypto on OKX?
Yes. OKX Earn offers staking, lending, and DeFi services with competitive yields.
5. Does OKX support NFTs?
Yes. OKX has an integrated NFT marketplace.
Disclaimer: Trading cryptocurrencies involves risk. OKX is unregulated—users should exercise caution.
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