OKX is one of the world’s leading platforms. Thanks to its diverse features and services, OKX has attracted a lot of attention. Let Learn Crypto Trading introduce you to the concept of What is OKX and its uses!

Concepts you need to know about the electronic exchange What is OKX?

The platform offers a wide range of essential products, services, and tools. What is OKX is currently in the top 4 cryptocurrency exchanges in the world. The exchange has received an absolute trust score of 10/10 from Coingecko.

What is OKX?

OKX, also known as OKEX, is a cryptocurrency exchange developed in China. It has attracted millions of dollars in investment from reputable venture capital funds around the world. Some examples include Giant Network Group, Longling Capital, Ceyuan Ventures, Qianhe Capital Management, eLong Inc., and Ventures Lab. What is OKX also stands out thanks to the diversity and professionalism in the services provided.

OKX’s position in the crypto market

Investors’ attention is not only focused on what is OKX changing its position. They also pay attention to the importance of this exchange in the international market. Currently, OKX is on the top list of the world’s leading derivatives exchanges. This affirms the reputation and strong position of OKX in the cryptocurrency industry.

In addition, the What is OKX exchange is also highly rated by CoinGecko. This is one of the leading websites for ranking and tracking cryptocurrencies. The exchange is also a symbol of trust and prestige in the global cryptocurrency community.

See more: OKX – Open an OKX exchange account on computer

Achievements of the OKX exchange

The cryptocurrency exchange What is OKX, has expanded its operations to more than 150 countries globally. OKX currently supports trading in over 300 cryptocurrencies and offers over 500 trading pairs. This richness helps the platform achieve more than 700 highly liquid trading pairs. Especially with a daily trading volume of more than 370 million USD.

OKX also stands out with its impressive derivatives trading portfolio. It includes 236 trading pairs, and the total daily trading volume exceeds 3.8 billion USD. Despite having more than 50 million users, What is OKX does not provide services to users in the United States.

Review of OKX exchange on the Crypto market

The emergence of decentralized cryptocurrency exchanges brings many benefits to users. Especially those who do not want to comply with the KYC process. However, the appeal of centralized exchanges today cannot be denied. 

Advantages of the OKX exchange in the crypto market

• High Liquidity and Trading Volume: OKX exchange stands out with its impressive trading volume and high liquidity. This provides favorable conditions for making transactions quickly and effectively.
• Multi-Language Support: OKX supports up to 10 languages. It includes ỤK, aiming to respect and attract users from all over the world. This makes it easy for everyone to access and use the platform conveniently.
• Diversity of Trading Types: What OKX offers is a wide range of trading options. It includes Spot Trading, Margin Trading, OTC, Futures and Options. They are intended to meet the diverse needs and preferences of users.
• Multiple Payment Methods: OKX allows users to choose from a variety of payment methods when purchasing crypto. This includes Visa/Mastercard, bank transfer, and Google Pay. This makes it convenient for everyone to make transactions.
• Asset Diversity and Low Cost: What OKX creates are great opportunities for investors to explore and invest.

Disadvantages of OKX in the crypto market

• Imperfect Interface Experience: Despite integrating many features, the interface of What is OKX is not really intuitive and friendly. This makes it difficult to learn and use the platform.
• Product Potential: OKX products have not achieved enough prominence and attention. This is an area that needs to be developed and adjusted to increase the platform’s appeal.
• Confusion with New Products: New products can confuse new investors. Therefore, there needs to be clear explanations and specific instructions from the trading exchange.

OKX exchange is a clear demonstration of trustworthiness in the cryptocurrency community. Furthermore, What is OKX doesn’t stop there. It also strictly complies with anti-terrorist financing and anti-money laundering regulations.

Any suspicions about OKX being a scam are completely untrue. OKX is steadfastly maintaining and strengthening its reputation in the cryptocurrency industry.

Overview of OKX exchange

What is OKX which is capable of supporting a variety of crypto market trading platforms? It includes websites, mobile applications, and APIs. It offers maximum flexibility and convenience to users. Moreover, this exchange stands out for its high level of security. It supports the most popular cryptocurrencies. At the same time, the exchange has liquidity with a daily trading volume exceeding $800 million.

Features of the exchange: What is OKX

• Multi-platform support for Web, mobile apps, and APIs ensures flexibility for users.
• Margin trading is supported, helping to optimize profits with leverage up to x100.
• Hedging helps you protect mining profits
• Extremely low transaction fees
• Many other products, such as OKX wallet, Staking, and DeFi are offered
• Supports both spot trading and decentralized exchange (DEX)
• Support diverse transactions with many different cryptocurrencies and Tokens.
• High security with 2FA support.
• Use in many languages ​​of different countries
• Live chat support via live chat on the website.

The interface of the OKX exchange

OKX’s main interface is designed to be clear and easy to use. It brings a convenient trading experience to users. Here is an overview of the features and options when using What is OKX :

• Exchange section: This is where you can see a chart showing the asset’s value fluctuations. Graphs help you monitor the changes of currencies visually and conveniently.
• MetaX: MetaX is the bridge between you and the Web3 world on the exchange. It includes NFTs, DApps,… through crypto wallet integration. This is the space for you to explore and participate in the latest activities.
• Trading: This section provides basic trading features, Margin trading, Convert, Trading bot, and Block trading. They help you make different types of trades according to your personal needs and preferences.
• Grow: Grow provides features like Earn, Loan, and Jumpstart. It creates more opportunities for users to earn and provides information about the token sale.
• Building: This section connects you with platforms like Bridge, Oracle, Swap, Developers,…. The purpose is to participate in building and developing the cryptocurrency ecosystem.
• More: This section provides features like Rewards, Pool, OKB, Referral, and Broker. It helps you make the most of all the opportunities and services that OKX offers.
• Asset Management: This section provides information about your assets. These include deposits/withdrawals, trading fees, and everything related to account management.
• Profile: This section includes items such as verification, security settings, Sub-Accounts, API, etc. The purpose is for you to conveniently manage your personal information and account.

Top 10 outstanding products of OKX exchange

• Live Trading: What is OKX opens up a world of vast trading potential. User-friendly design and provides full tools to make transactions.
• Derivatives and Margin Trading: OKX provides a flexible platform for derivatives trading. It creates higher profit opportunities.
• Trading Robots: OKX provides an automation tool for trading strategies. It helps to optimize trading performance.
• Profit: The “Earn” feature allows users to receive attractive interest rates on their deposits.
• Loans: OKX provides collateralized loan services. They create favorable conditions for users when they need capital to trade or invest.
• Jumpstart: This is a platform that helps users get early access to potential projects before they are listed on the exchange. 
• OKB Chain and OKT Chain: OKX develops two private blockchains, intending to improve security and performance.
• Dong Thuy Trading: The P2P trading market and Quick Buy feature both bring convenience to users when buying and selling cryptocurrencies.
• Enterprise Trading Tools: OKX offers products and services specifically for institutions. It helps them manage assets and execute transactions efficiently.
• OKX Web3 Wallet and OKX NFT Marketplace: OKX is developing new services such as OKX Web3 Wallet and NFT Marketplace. It opens up new opportunities in asset management and participation in the NFT market.

See more: Instructions for creating an OKX exchange account

Fees in the crypto market

Takers and Makers in the Crypto market:

• Maker: They place orders without requiring immediate execution. This action helps create a link between buy and sell orders. It contributes to increasing liquidity and stability in the market.
• Taker: On the contrary, Takers are those who place orders and request immediate execution. This causes the consumption of part of the market liquidity.

Fee structure on OKX

• Instant Trading: Fees can range from 0.10% to 0.15%. Or lower than the industry average of 0.20%. This helps reduce trading costs and makes it easier for investors with long-term trading strategies.
• Futures Contracts: Fees vary from 0.02% to 0.05%. This level provides flexibility for investors with derivatives transactions.
• Margin Trading: Fees are calculated based on current trading rates. However, there is still a borrowing fee depending on market conditions. This ensures fairness and transparency in margin trading.
• Perpetual Swap and Options: OKX applies a tiered fee structure to these products. It optimizes benefits for investors with diverse trading strategies.
• Deposits and Withdrawals: There are no fees for deposits and withdrawals in fiat currency. However, cryptocurrency withdrawal costs may vary depending on the specific coin and chain.

Promotions for VIPs

In particular, Crypto market VIP users are investors with a significant amount of OKB token holdings and 30-day trading volume. They will enjoy higher preferential fees than regular users.

It also facilitates traders with large and frequent trading needs. At the same time, it increases the chances of optimizing profits and building a successful trading career.

How to participate in crypto trading on the exchange, What is OKX

When you buy crypto through P2P trading on OKX, the exchange holds the crypto for safety and only releases it when the seller confirms that payment has been received. Buying directly from the seller offers more payment methods.

How to register on the exchange What is OKX?

• Step 1: Visit and click the “Register” button in the upper right corner https://www.okx.com 

• Step 2: Choose a login method; You can use an email address or phone number. After entering the information, click “Register”.

• Step 3: Enter the verification code sent via email or phone number to complete the registration process.

The verification code consists of 6 digits and will be sent to your email.

After successful registration, you can access your OKX account as usual.

Verify the OKX account

Step 1: Access your account and select “Verification”. Here, you will be asked to choose between personal or business account verification.

Step 2: Fill in all the required information and click “Submit information”. Some levels of verification:

• Level 1 Verification: Provides access to most trading features with a limit of $2,000. Requires verification of nationality ID number, and username.
• Level 2 Verification: Access to all trading functions with a limit of 200,000 USD. Require identification documents and portrait photos.
• Level 3 Verification: Transaction limit is $500,000 and requires video identity verification.

How to set up 2-factor authentication on OKX

Use the Google Authenticator app on your phone to scan the QR code provided. It is recommended to store your keychain to ensure you don’t lose your 2FA code. Next, enter the verification code from your email and the Google Authenticator app to complete the verification process.

Conclude

OKX has stood out with many useful and convenient features for users. However, to achieve the highest trading efficiency, you need to clearly understand OKX’s operating policies and regulations and strictly comply with them. Wishing you success in your journey of investing and Learn Crypto trading currencies on OKX! That’s what Learn Crypto Trading wants to introduce to you about What is OKX. Follow Learn Crypto Trading’s website to learn more about trading terms!

FAQ about What is OKX

How to register an account on OKX?

To register an account on OKX, visit the exchange’s website, click the “Register” button, and fill in required information such as email and password. You will then need to verify your email address and may need to go through a KYC (Know Your Customer) process depending on the level of transaction you want to do.

Loss when trading on OKX?

OKX applies different trading fees for different types of transactions. This fee usually includes trading fees, withdrawal fees and may have other fees depending on the service used. Transaction fees are usually calculated as a percentage of the transaction value and can be reduced if the user holds the exchange’s OKB token.

What cryptocurrencies are supported on OKX?

OKX supports hundreds of different cryptocurrencies in the crypto market. Including popular coins such as Bitcoin (BTC), Ethereum (ETH), and many other altcoins. The exchange is constantly updating and adding new cryptocurrencies to meet the trading needs of users.