If you have just stepped into the crypto space and want to buy or trade crypto then OKEx exchange you need to know about. Choosing the right kind of cryptocurrency exchange is most crucial, especially for the inexperienced crypto enthusiasts.
The right kind of exchange is essentially the one that offers features that match your criteria and needs and prioritizes your security as well. It is crucial to opt for such an exchange as it is likely to make the overall experience less intimidating and safer. There are several platforms in the market and you need to be sure that the one you opt for, offers features and services that give you some benefit or make things easier for you.
Therefore, you need to take a look at all your available options and choose carefully. Knowing which exchange is the best can be easier if you know the available features and then compare them with your criteria. This is why, it is also important to take a look at this OKEx exchange review and the major features mentioned here.
Brief Overview of OKEx
This crypto exchange is headquartered in Malta after being launched in 2017. This platform is like a broker for people interested in trading a multitude of futures trading pairs and crypto tokens.
OKEx platform is one of the most well-known exchanges in the world and has a vast trader-base with millions in daily traded volumes.
There are several outstanding features supported by the platform. As a potential or new user, you need to know about these features and then determine how suitable it is for you to use. Opting for a platform without knowing the details beforehand can cause you to be stuck with a platform that does not cater your needs.
As a new trader or investor, one of your top priorities should be to find an exchange that offers a user-friendly interface. Some of the exchanges in the market are designed to facilitate the experts only. Such exchanges are very difficult to navigate for inexperienced traders. Therefore, to minimize the level of difficulty as much as possible, you need to look for a platform that is designed for beginners too.
OKEx is one such exchange that is known to have a simple. interactive and easy-to-navigate interface. The main screen has all the prominent features such as:
- A buy/sell panel
- A trading panel with open orders and history
- A trading view chart
- Market order depth
As a trader, one of the most important aspects to explore is whether the OKEx exchange supports leverage trading or not. Leverage trading allows traders to borrow funds from the brokers, where the borrowed amount is called leverage.
Since the traders have a higher amount they can use to place trades, this comes with high rewards and high risks, depending on how the trades go.
It is also important for you to know that every platform offers a different leverage ratio and OKEx offers one of the highest, which is up to 100x.
Multitude of Banking Services Supported
There are some crypto exchanges that rely on a single payment method while others are more versatile when it comes to the payment methods offered to the users. The availability of a variety of payment methods can indicate that the exchange is capable of handling a large audience.
This OKEx review specifies that the platform supports several banking services, which makes it a one-stop-shop for the users. The banking services available include:
- Apple Pay
- Bank transfer
- Credit card
- Debit card
- Cryptocurrency transfer
- KaKao Pay
- Western Union
OKEx fees is yet another aspect you need to properly explore before you use the exchange. As compared to its competitors, this platform charges a low fee that is transparent and the trading fee is divided into market makers and takers.
- 15% trading fee for market takers (spot trading)
- 09% to 0.15% trading fee for market takers (futures contracts)
- 0005 BTC withdrawal fee for Bitcoin
- 01 for Ethereum
- 15 for Ripple
OKEx US customers would have to look for a different exchange if they are interested in this one because OKEx USA does not exist. In other words, OKEx does not offer its services to the residents of USA.
Therefore, interested OKEx United States parties should look for other platforms that are available in their country or region.
A proper research is important for every crypto trader and investor before they opt for any crypto exchange. Knowing the numerous options available can help you determine if exchanges like OKEx are suitable for you or not.