OKEx is a digital currency exchange that is based in Malta and was founded in 2017. This exchange is like a broker where the traders can trade hundreds of futures trading pairs and crypto tokens. The exchange has accumulated millions in daily traded volumes, which makes for a large trader-base.
The OKEx exchange has been developed by JayHao, who has a background in game development. This platform enables the users to be exposed to derivatives and spot trading and also offers a wide variety of tradable assets.
Among numerous other outstanding factors to know about OKEx, potential users should also know that it has a native utility token as well called OKB. This is included in the 140+ digital tokens that are available on the platform.
However, if you are looking to use this exchange then here are a few facts you should know.
OKEx is a User-friendly Platform
One of the most important things to know about a platform such as OKEx is that it offers a user-friendly interface. The user experience offered by an exchange is essential and one of the leading factors you should consider before choosing any crypto exchange.
The user interface of an exchange is an essential factor to look at as not every platform is suitable for beginners and experts alike. This is why many interested parties drop their plans to trade or invest in crypto.
However, this is a crypto exchange that helps every interested party, experienced and inexperienced alike. To step into the crypto space as it is simple to use and easy to navigate. If you consult a detailed OKEx exchange review you will come to know about more features and factors. However, if you are a beginner and you are intimidated by complex interfaces then OKEx can be a suitable option for you.
Fee Structured Offered by the Exchange
The OKEx fee is arguably the most important factor you need to know. Consider if you are looking to choose a secure and suitable crypto exchange. The fee you have to pay as a user of a platform varies from exchange to exchange and not every exchange has a transparent fee structure. This often causes the inexperienced investors and traders to pay hidden or additional charges as well.
Therefore, before you choose to use OKEx, make sure you know the different fees charged by the exchange. This platform charges a low fee, however, it depends on whether you are a market maker or a market taker.
In this brief OKEx review you can get an idea of the kind of fee structure to expect if you opt to use this exchange.
- The market takers trading fee depends on a ‘tier’ system that is at a limit of 0.15%.
- VIP users can enjoy a fee of 0.030%-0.080%.
- In case of futures trading the market takers fee ranges from 0.09% to 0.15%.
- Traders don’t have to pay any deposit fee.
- The users are required to pay a withdrawal fee of 0.0005 BTC for Bitcoin, 0.15 for Ripple and 0.01 for Ethereum.
Knowing about the OKEx fees can help you determine whether this is a suitable platform for you to choose or not.
Method to Make Deposits and Withdrawals
As mentioned above, OKEx is a user-friendly crypto exchange. Which is why it offers a simple and easy method to make deposits and withdrawals. If you use the OKEx exchange to become a crypto investor or trader then you can see the steps mentioned as follows:
- Create your account
- Verify your account
- Use the ‘one-stop marketplace’ feature
- Get exposure to 6 mainstream cryptocurrencies and 30 fiat currencies, thanks to the feature
- Select a deposit method to fund your account
OKEx also offers a mobile-friendly application for people who prefer to keep a track of the market and trade while on the go. It is available for both Android and iOS users. The mobile application has an intuitive user interface and helps you manage your trades and capital all in one platform.
What to Know About OKEx U.S.A. Services?
One of the most important things to know about the exchange is that OKEx U.S. customers are not supported. This is because of the regulations in the United States that have caused the blocking of U.S. traders from the exchange.
Therefore, people interested to know about OKEx United States should know that it is not available for crypto enthusiasts in the country. However, traders do use other measures at their own risks to access the exchange.
OKEx is one of the crypto exchanges in the market that you should know about. Having some information about your options can help you make the right decision regarding which platform you should use to trade or invest in crypto. Therefore, as a beginner you should know the above-mentioned facts about the OKEx exchange.