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OKEx Cryptocurrency Exchange review

OKEx Review - Everything You Need to Know About The Gemini Crypto Exchange

The in-depth study of the bitcoin trading platform OKEx will cover a variety of topics. Everything from registration through deposits, withdrawals, trading costs, customer support, security, and other features will be covered.

The OKEx review is intended for both new and experienced cryptocurrency traders. If you want to start trading cryptocurrencies and are unsure if OKEx is the appropriate platform for you, this OKEx exchange review is for you. If, on the other hand, you are a seasoned trader seeking to move away from your present platform and try something new, look no further.

Overall, we’ll address some of the most pressing concerns, such as if OKEx is secure, the benefits and drawbacks of the cryptocurrency market, customer service, and more! Here’s all you need to know about OKEx, a cryptocurrency exchange.

Buy and sell cryptocurrency instantly

OKEx Exchange Review

Star Xu created OKEx in 2014 as an expansion of OKCoin. OKEx was an improved version that did more than simply purchase and sell bitcoins. It also has a number of other projects targeted at changing the financial sector as a whole.

Initially headquartered in China, the business subsequently relocated to Hong Kong owing to the government’s regulatory prohibition on ICO coins. As a result, OKEx now operates globally, while OKCoin serves clients in China.

The site has over 20 million members from over 200 countries and is recognised as one of the biggest cryptocurrency marketplaces on CoinMarketCap. Its daily Bitcoin futures trading volume is about $1.5 million.

OKEx’s Chinese backers include Ceyuan Ventures, Longling Capital, and the Giant Network Group. Aside from this, VenturesLabs, co-founded by Tim Draper, is listed as an investor. Tim Draper is a well-known American venture investor who has made early investments in businesses such as Tesla, Hotmail, and Baidu.

However, OKEx is presently unavailable to traders in the United States since the country’s government regulatory regulations prohibit the platform from operating.

Overall, we’ll address some of the most pressing concerns, such as if OKEx is secure, the benefits and drawbacks of the cryptocurrency market, customer service, and more! Here’s all you need to know about OKEx, a cryptocurrency exchange.

In This Review

OKEx Excahnge Features

Various Trading Options

The following are the different trading possibilities accessible on the site.

1. Orders in the Market
These will enable you to fulfill orders quickly at the best possible pricing. Because of the strong liquidity, these orders may be quickly placed and processed, and the spreads are not very wide.

2. Restriction Orders
Limit orders enable you to purchase or sell bitcoins at the price you choose. These would require some waiting, but it would be minimal owing to the platform’s strong liquidity. The exchange also offers sophisticated choices like Fill or kill, Post only, and Immediate or kill.

These allow you to plan more effectively and have more control over your assets. It also guarantees that you can fulfill your orders fully rather than partly, avoiding the need to pay a separate maker and taker charge.

3. Restraining orders
Stop orders are much more sophisticated choices for seasoned traders. They let you specify your criteria, such as the trigger price and order price.

The trigger price, as the name implies, will place your order in the market as soon as the asset’s value equals the value you choose.

When the trigger price is achieved, you may set the price at which you wish to purchase or sell your order. Alternatively, you may execute the transaction as soon as the trigger price is achieved.

4. Over-the-counter (Over The Counter)                                                                    OKEx Desk enables OTC trading of a variety of cryptocurrencies as well as fiat currencies. BTC, ETH, EOS, XRP, XLM, USDT, LTC, and BCH are the cryptocurrencies that may be traded over the counter.

OTC allows you to conduct trades directly between two parties as peer-to-peer transactions without exposing them to the market. This allows for huge quantities of crypto assets to be exchanged without significantly affecting the market.

5. Trading in Futures
Customers may also trade futures contracts in Bitcoin via the site. According to CoinMarketCap, it has the largest daily trading volume of approximately $1.5 million.

Futures trading enables you to purchase or sell your assets at a predetermined future time and price. If you’ve done your homework on market patterns and the present situation, you can utilize it to your advantage. You have a maximum leverage of 100x

6. Trading on Margin
OKEx also enables margin trading with a leverage of 20:1, which is greater than other platforms in the bitcoin market.

If you don’t have enough money to purchase an asset, you may borrow it from the platform via margin trading. If the asset’s value rises, the borrowed amount remains the same, but the rise in value is completely your profit.

However, you must exercise caution and implement appropriate risk management techniques so that if the value does not rise as expected, you do not incur a significant loss.

Wallet OKEx, buy and sell crypto easily
Price chart cryptocurrencies
Cryptocurrency prices on OKEx app

Security

OKEx is claimed to feature a high-security design that includes a distributed cluster system and cold storage to keep money secure. It offers a variety of security options, including two-factor authentication, smartphone verification, Google authenticator, and anti-phishing codes.

You can use one or more of them in various combinations to build a sophisticated security system. Your money will be secure as a result of this.

However, in 2017, a few customers reported that their accounts had been hacked and money had been taken. The business then blamed the customers for their carelessness and failure to keep their accounts safe. 

Aside from that, there have been no concerns about its security.

About OKEx

Customer Care

The platform is well-known for its excellent customer care, which is accessible 24 hours a day, seven days a week. You may contact them via phone, live chat, email ticketing system, and other social media platforms.

On Trustpilot, the platform has a rating of 3.4, which is above average. In reality, it is much superior to some of the most well-known exchanges, such as Coinbase and Binance, which are well-known across the globe.

When it comes to its service, however, there are varied opinions. While some have complained about slow response times and poor service, others have praised the company’s attempts to resolve consumer issues.

Aside from that, it offers a basic and easy-to-understand help section where consumers can get solutions to some frequent questions. It teaches novices the fundamentals of trading by discussing the ideas and features.

How Do You Sign Up For OKEx?

OKEx offers a quick and hassle-free signup procedure. All you have to do is follow the instructions below to finish your registration in a couple of minutes.

  • On the homepage, click the registration button in the upper right corner.
  • Now, input your email address and double-check that it is accurate in order to get information from the platform.
  • After that, you’ll get a six-digit number to your mail ID.
  • You’ll have 60 seconds to open your email, copy the code, and paste it into the OKEx page.
  • After that, you’ll be prompted to enter your password.
  • The password follows the same basic recommendations that you’ll find on other sites for creating a safe password.
  • To confirm your password, retype it.
  • After that, you’ll be sent to the next page, where you’ll be asked if you’re a novice or an experienced trader.
  • Choose the one that corresponds to you, and there you have it! You’ve successfully signed up for the platform.
  • OKEx policy states that traders are not required to complete the verification procedure promptly. Without completing the verification procedure, you will be able to fund your account and buy, sell, and trade cryptocurrency.

To withdraw your assets over a specific limit, you must first complete your KYC, and only then will you be allowed to execute the withdrawal procedure. Aside from that, any other procedure may be carried out without the completion of verification.

The Benefits and Drawbacks

Pros
Low transaction costs
Various cryptocurrencies
Various trading options
Fees for withdrawal are minimal.

Cons
Customer service has received mixed ratings.
It is not found in the United States.

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