OKX Exchange is a well-established crypto trading platform, originally known as OKEx. Founded in May 2017, it was among the earliest exchanges to offer cryptocurrency derivatives trading. It provides diverse spot and contract trading options for virtual currencies and once ranked second only to Binance in trading volume for crypto derivatives.
Why OKX Stands Out
- Proven Track Record: With over 5 years in the crypto space, OKX is a veteran platform.
- Global Reach: By 2019, OKX had surpassed 20 million users worldwide, cementing its position as a top-three exchange by trading volume.
Security Measures at OKX
OKX prioritizes user asset protection through:
- Cold Wallet Storage: 95% of user funds are held offline to prevent breaches.
- Two-Factor Authentication (2FA): Google Authenticator integration for account security.
- SSL Encryption: High-grade website security for safe transactions.
👉 Learn more about cold vs. hot wallets
OKX Trading Volume Rankings
OKX consistently ranks in CoinMarketCap’s top 10 for both spot and derivatives trading, with derivatives often breaking into the top 5.
Key Metrics (as of 2022/11/19):
- Spot Trading: Top 10 globally.
- Derivatives Trading: Top 5 globally.
Fee Structure
OKX employs a Maker-Taker model, with fees based on 30-day trading volume and OKB (platform token) holdings.
| Tier | Maker Fee | Taker Fee |
|------|-----------|-----------|
| Contracts | 0.015%–0.020% | 0.030%–0.050% |
| Spot Trading | 0.060%–0.080% | 0.080%–0.100% |
What Is Maker-Taker Pricing?
- Maker: Adds liquidity (e.g., limit orders not immediately filled).
- Taker: Removes liquidity (e.g., market orders executed instantly).
OKB Token Utility
OKX’s native token, OKB, offers:
- Fee Discounts: Up to 30% reduction.
- JumpStart IEO Access: Early participation in token sales.
- Staking Rewards: Earn passive income through OKX’s "Earn" products.
Mining & Earning Opportunities
OKX provides multiple yield-generating options:
- Locked Staking: Fixed-term deposits for interest.
- DeFi Integration: Access decentralized finance tools.
- Bitcoin Mining Pool: Transparent, high-stability mining with OKX’s multi-node setup.
FAQ Section
Q: Is OKX safe for beginners?
A: Yes, its intuitive interface and robust security make it suitable for all levels.
Q: How do I reduce trading fees?
A: Hold OKB and increase your 30-day trading volume to qualify for lower tiers.
Q: Can I deposit via credit card?
A: Yes, OKX supports credit card purchases of crypto with competitive rates.
Final Thoughts
OKX excels in crypto derivatives, offering a seamless trading experience with low fees and advanced tools. Whether you’re trading spot, contracts, or earning via staking, OKX is a top-tier choice.
Other Recommended Exchanges
| Exchange | Spot Fees | Derivatives Fees |
|----------|-----------|------------------|
| Binance | 0.1% | 0.02%/0.04% |
| Bitget | 0.02% | 0.06% |
| Bybit | 0.1% | 0.01%/0.06% |
Note: Fees vary by VIP level and token holdings.