By the time you get to VIP five, maker transactions are free; at VIP six, OKX starts paying you. OKX exchange offers 344 different cryptocurrencies that users can trade on the international cryptocurrency exchange against stablecoins, Bitcoin, and Ethereum for 729 trading pairs. However, with 187 more derivative pairs on the platform, the total number of tradable instruments on OKX is 916, which is impressive and will suit altcoin traders specifically. Huobi is one of the few crypto exchanges to offer over 500+ crypto assets and trading pairs to choose from. Also, some aspects of this crypto exchange can be accessed without completing KYC verification.
Users must ensure that they are the legal owners of the digital assets they stake and that the sources of these assets are legal. Staking involves various risks, including market volatility, technical anomalies, and potential financial losses. We advise you learn and accept these risks before participating in staking. Even from your mobile, you’ll have access to OKX’s decentralized multi-chain wallet.
Is the OkEx Wallet Safe?
OKX is perfect for beginners in fact – it’s super simple to create your account and get started. Plus, you can earn interest on your crypto if you want to, or get a loan backed by your crypto. They’ve also got an awesome, easy to use app on both Apple and Android – very highly rated too 4.8 out of 5 on Apple and 4.6 on Google. We are a professional review site that receives compensation from the companies whose products we review. We test each product thoroughly and give high marks to only the very best. We are independently owned and the opinions expressed here are our own.
Additionally, OKX’s Risk Shield fund helps to insulate customers from any possible attack, substantially boosting the platform’s security. Demo traders on OKX are given around $160,500 split into several cryptos, including BTC, ETH, and OKB, making it possible to trade multiple markets without converting any assets. Furthermore, OKX demo funds can be used with its trading bots, enabling users to build bots that can be listed on the trading bot marketplace to earn additional revenue from followers. We used an OKX demo account to test the bots offered by the exchange and noticed the option to build a bot was available on the asset page, making it easy to find.
Binance
Like many exchanges, OKX operates in a manner outside of the US regulatory code. This was after it moved from Beijing, China, following the crackdown on crypto-related activities. Interestingly, OKX’s security structure has performed impressively over the years. It has a limit of 300 million shares and promises to buy back and burn shares every three months.
- Perhaps one of the most important of these is two-factor authentication.
- Futures contracts can be divided into perpetual contracts and quarterly contracts.
- Having won an award in 2018 at the first edition of the Malta Blockchain Awards should show that they at least have a good amount of security built into their system.
- It was founded in 2017 by Changpeng Zhao (a.k.a CZ), a developer who previously worked in creating high-frequency trading software.
However, beginners should always exercise caution and educate themselves about the risks of cryptocurrency trading before starting. The support team is tasked with maintaining the trust and satisfaction of the users through effective communication and problem resolution. We had a rather pleasant experience with the team, so it’s possible that improvements have been made since the aforementioned reviews of OKX. Your yield from staking will be an estimation, not guaranteed by the platform. OKX deducts costs, fees, and expenses related to the operation of staking, including server and electricity fees, from the actual yield to determine the final yield.
OKX (Previously OKEx) Fees
The most significant benefit is that OKX covers all the fees involved with voting. In addition, if the project that a user supports wins the auction, the User receives rewards for voting. Users who participate in early bird voting also earn exclusive rewards from OKX and the project teams. To https://www.tokenexus.com/okex-exchange-review/ complete the first level of verification, all you need is an ID number, name, surname and place of residence. To reach level 2 verification and increase trading and withdrawal limits, you will need to upload copies of your ID documents and take a couple of selfies to confirm your identity.
This risk is multiplied many times over should you start speculating in crypto derivatives. Sapphire Fox is a seasoned expert in online backup and cloud storage with nearly four years at Cloudwards, combining her extensive engineering background with editorial skills. Her work is informed by a lifelong passion for technology, evidenced in her keen evaluation and recommendation skills. Cloudwards.net may earn a small commission from some purchases made through our site. That said, ICO investing is an inherently high-risk activity, and OKX has only launched 13 projects, none of which have been particularly notable.