2024 Recommendations|OKX Exchange Introduction, Registration Benefits, Deposit Tutorials, Security,Handling Fee, Features

OKX Registration Process|Lower Handling Fee
OKX Exchange Introduction, Background, Ranking
OKX Main Features
OKX Security
OKX Deposit Teaching
OKX Strengths and Weaknesses

OKX Registration Process

Step 1: Press hereRegister LinkEnter the registration page

Step two:Enter your email / cell phone number and password

In this step, users are free to choose to register by email or cell phone number.

Step Three:Enter the validation code on your mailbox/mobile phone.

Step Four:Select Country/Region of Residence

Notes:Please choose your country/region of residence honestly, you will need to provide a document with your address or proof of address in the future for advanced identity verification. Once you have selected your country/region of residence, you will need to re-verify your identity if you need to change it in the future.

Step 5: Create a password to complete the first stage of registration. Although the account is successful, but if you do not complete the KYC certification program, the user in the platform available for certain functions will be limited, remember to do KYC!

Spot Trading Handling FeeContract (option, delivery, perpetual contract) handling fee
Handling Fee0.07%0.05%
Order Fee0%0.02%

OKX Exchange Introduction

Formerly known as OKEx, the OKX exchange was founded by Xu Xingxing in 2017, when it began as a cryptocurrency exchange. In 2021, OKX announced that it would change its name from OKEx to OKX. The new name represents the upgrade and innovation of the platform itself, as well as the platform's commitment and vision to its users, community, partners, and the industry as a whole, hoping to engage more people in the world of cryptocurrencies, and to promote the development and popularization of decentralized finance and Web3 through OKX.

OKX has the world's topCryptocurrency Trading PlatformThe platform is a decentralized eco-aggregation platform that provides a platform for the development of eco-aggregation. Web3 Walletand a secure programmable design for next-generation Web3 applications.Smart Contract Platform OKCThe company has created world-leading trading systems such as the Unified Trading Account, which allows users to easily manage CeFi and Web3 assets at the same time.

The OKX Wallet is billed as the "Gateway to Web3" and offers cryptocurrency hot wallets, decentralized exchanges (DEX), and decentralized apps (DApp). The wallet supports over 60 networks, including major blockchains such as Bitcoin, Ether, BNB, Solana, Polygon, Avalanche, Fantom, etc., as well as over 100 DeFI protocols and 30 NFT platforms.

Since its founding in 2014, OKX has been in this circle for nine years and has passed the test of many bull and bear transitions. Currently, OKX has more than 50 million users worldwide, covering more than 200 countries.

What services does OKX Exchange offer?

Spot Trading: Supports more than 300 trading pairs and offers trading in a variety of cryptocurrencies and stablecoins, including Bitcoin, Ether, Litecoin and many others, allowing users to trade cryptocurrencies at current market prices.
Margin trading:Allowing users to trade with leverage and increase potential profits, OKX supports margin trading in a variety of cryptocurrencies, including Bitcoin, Ether and other major crypto assets.
Futures trading:Allows the user to speculate on the future price of an asset. Futures trading provides the user with the ability to take advantage of market fluctuations, both up and down, and to trade with leverage.

According to CoinMarketCap According to the data, OKX is ranked sixth among spot exchanges and second among derivatives exchanges, with a trading volume of $1.3 billion.

OKX has formally submitted an application for a virtual asset platform license in Hong Kong!

According to the official website of the Hong Kong Securities and Futures Commission (SFC)DisplayOn November 16, OKX Hong Kong FinTech Company Limited, OKX's Hong Kong company, formally submitted an application for a virtual asset trading platform license.If the license application is eventually approved, the exchange will be able to operate a virtual asset trading business in Hong Kong under the name "OKX".

Speaking to Hong Kong media outlet Ming Pao, OKX's Global Chief Commercial Officer, Mr. Lai Chi Hoi, said, "The platform has always been an advocate of progressive regulation, and I believe that the future of the global digital asset generation system will be regulated." In support of OKX's local license application, Hong Kong virtual bank ZA Bank said earlier this month that it had opened an operating account for OKX Hong Kong and would provide the exchange with basic commercial banking services to meet its daily banking needs.

OKX is the first to support Hong Kong's compliant spot trading.

The OKX app now supports Hong Kong users to trade and hold 16 major cryptocurrencies, while upholding the high standards of traditional Hong Kong financial exchanges in terms of platform security, trading technology and risk management.

Hong Kong users can trade and exchange 16 major virtual assets, including Bitcoin (BTC), Ethereum (ETH) and more, through the OKX app. Hong Kong dollars can be used,P2P transactions or tokenized transactions through third party service providers using Apple Pay, Visa and Mastercard.OKX will introduce more features in the coming months in accordance with the guidelines of the Hong Kong Securities and Futures Commission to further enrich and diversify the user experience.

Key features of OKX worth introducing

OKX's brand character and development direction in recent years is much sharper than before, as can be seen in the following exchange features, functions, and products!

OKX Highlight: Web3 Wallet

(also applicable to Hong Kong users)

OKX Web3 wallet supports more than 60 public chains, allowing users to cross chains senselessly at any time, without the need to choose & learn how to use cross-chain bridges to complete cross-chain transactions with one click. It also supports more than 100 DeFi protocols.Help users to manage the assets in the chain more conveniently,View Multi-Chain TokensThese products and features enable OKX to better meet user demand for decentralized transactions; Web3 Wallet alsoSupports user-defined networksConnecting Hardware Walletsand other convenient features.

Now you can reach all corners of CeFi & Web3 at any time in OKX APP, with various functions to help you avoid inconvenience and have a smooth experience.

The OKX R&D team has said in an interview: [[The OKX R&D team has said thatThe DEX aggregator feature in Web3 Wallet is a typical product innovation. We don't want users to put their money here, but we aggregate all the DEX together as a way to reduce the cost of use for users and to help them be more efficient].

I use OKX Web3 wallet.

OKX Web3 wallet has 3 main features:

  • dealingsThe company integrates 100+ liquid pools and 3 cross-chain bridges to help users buy at the lowest price and sell at the highest price with refined algorithms.
  • Earn Money: Integrate 300+ revenue options across the chain.
  • NFT MarketOKX: Integrates multiple chains such as Ethereum, OKC, Polygon, etc. and supports multi-platform listings. You can choose multiple NFT platforms you want to list and set different prices for the same NFT, OKX doesn't charge a service fee.
  • If you are accustomed to using Metamask for cross-chain transactions, Metamask will charge extra handling fee while OKX Web3 wallet has 0 handling fee.
  • Through OKX Web3 wallet, you can also automatically convert the currencies in your hand, can automatically complete the cross-chain operation, currently supports more than 60 chains.
  • OKX Financial Products (not applicable to Hong Kong users)

    Simply earn coins
    His logic of earning money is to use your own hands of idle assets, lending to the market in the need to do leverage of the user to obtain income. To put it in human terms, it is the same logic as you save money in the bank, and then the bank in the money you saved to loan out to the users who need money to get interest.

    There are no handling fees, and you can choose different terms, i.e. how long you want to lend out your money. There are also two types of funds: current and fixed term, but the source of income is a little different. Callable is the same as you deposit money in the bank, while fixed-term is that your assets need to be locked in a certain period of time, and the source of income is through the pledge of income or project incentives, but the underlying logic is the same, that is, your idle assets by the need for money or the organization to provide liquidity, and they use the actual money to give you a return.

    shark fin
    This is a 7-day structured financial tool. This is a 7-day structured financial tool that allows you to earn income after 7 days regardless of whether the market is up or down, how does it work? The Sharkfin is divided into two directions, bullish and bearish, and the APY gain can range from a minimum of 6% to 11.8%.

    Double Currency Win
    Dual Currency Banking is a type of financial derivative that is somewhat similar to traditional financial options. You can invest in cryptocurrencies and set three parameters: "currency", "expiration date" and "pegged price". When the "expiration date" is reached, the platform will settle the cryptocurrency according to the prevailing settlement price of the cryptocurrency, and you can earn interest regardless of whether the previously set "pegged price" is reached or not. The only difference is that the currency (principal) returned to the investor at the time of settlement may be different from the currency initially invested. Generally speaking, the closer the maturity date is set, the higher the yield will be.

    OKX Exchange Security

    OKX Exchange adopts Google 2-Factor Authentication (2-Factor) to protect user account security, and multiple signature authorization must be used to agree to transactions during the transaction process; OKX Exchange website also uses SSL website encryption certificate, which is very safe to use. In addition, OKX Exchange stores 95% user assets in an offline cold wallet to prevent damage or loss due to vulnerability, so users can use OKX Exchange with peace of mind.
    • OKX uses multi-signature technology to protect its cold wallet storage, back it up off-site and hold it in a bank safe.
    • OKX conducts regular security audits
    • Implementing two-factor authentication to increase user protection
    • Publishing the certificate of reserve and opening it for users to enquire by themselves reflects a high degree of transparency.
    • Established the Ouray Universal Fund to protect users' assets in the event of security risks.
    CryptoQuant, a platform for analyzing data on the chain, also shows the current exchange balance of OKX. In the case of OKX, the reserve is mainly composed of BTC, ETH, and USDT, so the balance of the exchange's reserve won't drop due to the fall of the exchange's platform coin $OKB.

    Platform Coin $OKB

    OKB is a global credits issued by OK Blockchain Foundation, which is the bridge between OKX and all customers. Holding OKB allows you to enjoy various benefits in OKX, and at the same time, OKB has a rich ecological application scene among OKX's global partners.

    OKB has a total issuance of 300 million pieces, and the platform will buy back and destroy a certain number of pieces from the secondary market every quarter, making it an absolutely deflationary token.

    OKX P2P/ C2C Deposit Teaching

    If you are new to the cryptocurrency world, don't have much assets on hand, or just want to convert your cash into cryptocurrency and invest in various cryptocurrencies, using OKX P2P/C2C to buy stablecoins USDT or USDC is the easiest and most direct way to buy cryptocurrencies and you don't have to pay any handling fees during the process!

    Step 1: Complete OKX Registration and Pass KYC Verification
    Step 2: Go to OKX C2C Page

    Computer version: Go to home page → "Coin Buying" → "C2C Coin Buying".
    Cell phone version: Press the top left corner of the homepage → "C2C Trading".

    Step 3: Select the purchase currency, amount, fiat currency and payment method.

    OKX will filter suitable sellers according to the currency you choose, the amount of money, the French currency used and the payment method, the seller's name will be displayed below the number of orders within 30 days and the completion rate, so I recommend that you choose the seller with a large number of orders and a high completion rate.

    Currencies: USDT, USDC, BTC, ETH, TUSD, DAI

    Step 4: Enter the amount you want to pay / the number of tokens you want to receive C2C
    Step 5: Complete the payment on the order page
    Step 6: After completing the payment, click "Completed Payment".
    Step 7: Receive tokens and recognize assets

    Because C2C is essentially a private form of "over-the-counter" trading and OKX only provides a platform, OKX requires every C2C merchant to go through a rigorous Level 2 KYC identity verification process, freeze a 2000 USDT margin, and complete at least 10 orders before they can be approved to become a super merchant coin seller on OKX's C2C / P2P platform. In other words, if a seller is dishonest in any way, OKX can chase them to the ends of the earth.

    Advantage Analysis

    1. Complete user experience
    OKX, as a leading exchange in the industry, is very complete in all kinds of spot, derivatives, functions and operation options, with a clean and simple interface, and inexpensive fees, which simplifies the use of cryptocurrency and trading, which used to be very difficult!
      
    2. Wallet support for cross-chain transactions
    OKX's Web3 wallet is designed to be in the same app, so users can freely switch between them without having to use Metamask. users can choose to create Web3 wallet only without registering for an exchange account, or register for an exchange account only without creating a Web3 wallet, or use both to provide a flexible choice.
    In addition, Web3 Wallet currently aggregates more than 60 chains, and OKX will also automatically convert your coins when using the Gas exchange function. The biggest benefit of this feature to users is that they do not need to hold the native tokens of each chain, but can use OKX Web3 wallet to automatically convert the currencies they have in hand to complete the Gas handling fee required for cross-chain operations, so it is convenient to complete the cross-chain operations, which shows that OKX's level of thoughtfulness is very high.
      
    3. Extremely high mobility
    High liquidity helps ensure that users are able to buy and sell assets quickly and at competitive prices, and the platform OKX is also known for its fast and reliable order execution, which is crucial for traders who need to make quick decisions in a fast-changing market.
     
    4. Cheap handling fee
    Cryptocurrency trading is only charged at less than 0.1%, with an additional discount for using the platform currency OKB.The fee will be reduced according to the increase of trading volume or the increase of OKB tokens held.
     
    5. Open Enquiry Reserve
    Reserve certificates can be used to understand a virtual currency platform company's asset allocation, as well as the ratio of assets and liabilities status. OKX platform provides users with the ability to query their own reserve certificates, and these data will be regularly announced on the official website, according to the latest OKX reserve rate are more than 100%.

    Disadvantage Analysis

    1. ShelvingFew less liquid currencies
    Although OKX is one of the top 10 exchanges in the world, certain currencies with low trading liquidity are also listed.
      
    2. Text only customer service function
    OKX Trading currently does not have a telephone customer service, only online customer service (with Chinese language support).
    Example: If it's a KYC question, there is a standard response built into the customer service system, and the step-by-step instructions are clear.

    Disclaimer

    The content of this article is for reference only, investors should exercise independent judgment, invest prudently and at their own risk, this article does not provide or attempt to persuade the audience to do trading or investment basis, the content is for sharing purposes only, and should not be regarded as investment advice.It does not represent the views and position of Monsterblockhk.All information and opinions are current as of the date of the judgment. In addition, if a judgment is rendered on aIn this siteAny content related to virtual asset trading platforms that have not yet obtained a license to operate virtual asset trading platforms in Hong Kong, including but not limited to text introductions, pictures, offers, events, etc., are only available to users outside the Hong Kong Special Administrative Region.

    According to the Hong Kong Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022, after June 1, 2023, all centralized virtual asset trading platforms operating in Hong Kong or actively promoting their services to Hong Kong investors will be licensed and regulated by the SFC, and any related unlicensed activities will be a criminal offence. For more information and details of the legislation, users may refer to the SFC website.