Users can use this token to settle trading fees or to pay for exclusive services like enhanced API rate limits and customer support on the exchange platform. OKEx is a world-leading digital asset exchange, providing advanced financial services to traders worldwide leveraging blockchain technology. OKEx offers cryptocurrency-to-cryptocurrency trading services, including spot trading, futures trading, and perpetual swaps. The platform allows fiat-crypto trading alongside crypto-to-crypto trading.
What is funding account OKEx?
The funding account is used to store, receive, and send assets. You can deposit funds to your funding account, but they must transferred to your trading account to be used for buying or selling cryptocurrencies. All withdrawals will have to go through this account.
OKEx’s trading fees are 0.1% for Market Makers and 0.15% for Market Takers, which places the exchange among the most competitive exchanges. Those fees, together with the large number of markets available in the exchange make this exchange very interesting for altcoin traders and investors. It also reveals that the spot trading they offer make it possible to trade different types of crypto tokens both established and emerging tokens. In addition, advanced cold storage wallets are used to ensure optimal security. As one of the world’s major cryptocurrency exchanges, backed by some major capital, it would be assumed that the cybersecurity architecture in place at OKex is in line with the best standards in the industry.
Okex Review: Quick Trade
The exchange itself was never hacked despite being a very attractive target for attackers, having constantly maintained its place at the top of exchange rankings for the past year. “Up until now we’ve provided most of our services with fiat on-ramps, but forming a bank partnership (for real-name accounts) is realistically out of reach,” said the spokesperson. The futures premium, top traders’ long-to-short ratio and options skew all signal that pro traders still feel positive about Bitcoin price. The Evergrande fiasco appears to be driving the correction in global stock markets, but data shows this isn’t deterring pro traders from buying the BTC dip. OKEx believes blockchain technology will eliminate barriers to transactions, increase the efficiency of transactions across society, and eventually have a significant impact on the global economy.
What is fund password in OKEx?
After linking their OKEx account to their account, users can set a funds password by clicking Set in the “Funds Password” column of the “Security” tab. Enter and confirm your funds password on the next screen, along with the authenticator code displayed on your mobile device. Click Confirm to proceed.
Using this, users can earn Bitcoin and Rebate cards for completing the tasks and free Bitcoin learning missions. Please keep in mind that users must complete the tasks before 30 days of registration to claim the rewards. Users can trade crypto with up to 100x leverage on Perpetual swap and future markets.
Okex Spot Trading Fee
OKEx is a world-leading cryptocurrency and Bitcoin exchange that provides hundreds of trading pairs for spot and derivatives. We are the leader among cryptocurrency exchanges, with daily trading volume and open interest of Bitcoin futures reaching $1.65 billion and $1.1 billion, respectively.
A charting package, developed by parent company and sister exchange OKCoin, is also a major feature and will be appreciated by anyone with trading experience. When it comes to security standards in cryptocurrency, OKEx is one of the safest trading platforms. Several new-ages, innovative technologies like the cold wallet technology and core private key encryption algorithm making it one of the most advanced platforms with the best private encryption. To help investors place a trade at a predefined volume and price, different market orders and the ability to use Algo orders are vital for active daily users. Therefore, the OKEx platform allows users to trade with different types of orders.
— Godo – Bitcoin ⚡ (@fixtheblock) December 4, 2021
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Okex Deposit & Withdrawal Fees
The present CEO of the OKEx trading platform, JayHao, had a profound interest and expertise in game development before he joined the cryptocurrency trading platform. OKEx is a world-leading cryptocurrency exchange, providing advanced financial services to global traders by using blockchain technology. Buy cryptocurrencies like Bitcoin and Ethereum, use our derivatives exchange to trade futures and options.
OKEx is expanding its decentralized finance footprint with a DeFi Hub and a marketplace for creating and selling NFTs. You can now reset or delete your wallet on DeFi Hub to manage your assets flexibly.
Okex To Shut Its Crypto Exchange In Korea As New Aml Laws Take Effect
In January 2019, he became the largest individual shareholder of a public company listed in Hong Kong via the $60 million acquisition of LEAP Holdings Group, the construction engineering firm. Crypto tech — including NFTs and DAOs — and a dose of community support is proving to be very effective in raising funds. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Crypto exchange OKEx has launched a new platform for minting and trading NFTs. Stock market woes intensified last week with the major indexes breaking key levels.
It is revealed by an OKEx exchange review that they offer C2C trading that happens at market-driven prices and zero transaction fees. It happens via an advanced system that instantly matches traders and to guarantee safety, all traders are verified and customer service/support is available 24/7. According to a report by CoinDesk Korea on Tuesday, the cryptocurrency exchange has earmarked April 7 as the last day users can withdraw their digital assets and fiat currency. They aim to provide a safe, reliable, and stable environment for digital assets trading. The exchange uses KYC (know-your-customer); users must complete at least KYC verification level 1 in order to withdraw tokens from OKEx. The exchange platform has a native wallet feature that’s accessible by downloading the wallet app separately. The wallet supports 36 digital assets and multiple vaults and integrates seamlessly with the main OKEx trading app.
Okex Becomes First Major Exchange To List Shiba Inu’s Shib Token
Since 2017, he has also written about cryptocurrencies, blockchain, and crypto’s potential to revolutionize finance. His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!. It’s worth noting that both fee tables above are needlessly different for futures, perpetual swaps, and options transactions. For VIP users, their fees are determined by different criteria, focusing instead on their trading volume over the last 30 days.
In summary, OKEx has quite competitive fees, and thus is worth to be considered, specially when looking to invest in low market cap altcoins. But, as always, don’t forget to check the crypto search engine to ensure you are choosing the cheapest exchange. Crypto exchange Binance also operates an NFT marketplace, but it doesn’t seem to have gained much traction compared to popular NFT platforms like OpenSea and Rarible. When asked why OKEx has launched an NFT platform, Lai said the NFT market has “huge potential,” and the exchange wants to serve its users who are “NFT enthusiasts” and want to keep assets in one place. We believe blockchain technology will eliminate barriers to transactions, increase the efficiency of transactions across society, and eventually have a significant impact on the global economy. We strive to achieve something that changes the world and never stop to innovate and improve on our customer experience.
Banxa Gives Okex Users An Advantage
OKEx is the seventh major cryptocurrency exchange to integrate the tech stack. The others include stalwarts OKCoin, Bitfinex and River Financial, while Kraken exchange’s own integration is expected this year. A spokesperson of the exchange told CoinDesk Korea the local currency market would become too difficult to navigate due to new anti-money laundering safeguards for cryptocurrency businesses. The South Korean branch of global cryptocurrency exchange OKEx is shutting down operations next month, OKEx Korea officially announced Tuesday.
A trading bots platform has announced its new product feature that allows traders to make decisions based on TradingView signals. Metaverse, gaming and incentive-offering DeFi tokens pumped last week even as Bitcoin and the total crypto market capitalization dropped. MicroStrategy’s purchase of 7,002 BTC might have helped boost Bitcoin price on Nov. 3, but derivatives data also shows that pro traders are becoming more bullish. View OKEx exchange statistics and info, such as trading volume, market share and rank.
Partnering with Banxa will enable OKEx customers access to a wider range of payment options to buy cryptocurrencies with. This includes purchasing via your local post office in Australia to debit and credit cards across Europe. OKEx believes the blockchain technology will eliminate barriers to transactions, increase the efficiency of transactions across society, and eventually have a significant impact on the global economy. OKEx said it took the steps to protect its customers from anticipated price volatility in light of the controversies surrounding the fork. Traders complained not only about the premature settlement but also that it was conducted at a price that did not reflect market prices at the time. Their BTC futures trade has nearly $1.5B of volume daily, and is widely recognized as the gold standard for the industry. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics.
Launched in 2017 by Chinese Bitcoin giant OKCoin.com, it was designed to take over from OK Coin, which ceased futures trading in 2017 but remains operational for fiat trading with major digital assets. OKEx also offers customer-to-customer trading, spot margin trading, and an index tracker. Low trading fees are another big plus that will appeal particularly to more experienced traders. Regularly featuring among the top 10 global exchanges by 24-hour trade volume, OKEx okex exchange offers fiat-to-crypto and crypto-to-crypto trading on more than 100 digital currencies. It also offers market maker and taker fees starting from 0.15% and 0.2% respectively, with discounted fees for high-volume traders. The users are happy and satisfied with the world-class features that the OKEx platform offers. The website’s interface is very easy and anyone, even if without prior experience of operating on such platforms, can easily execute trades on OKEx.
- However, the maker/taker fee can be reduced to 0.06% and 0.09%, respectively, if the traders hold over 2,000 OKB tokens within the OKEx wallet.
- The exchange attributed this to the failure of the account holders themselves to secure their accounts and having made passwords and logins accessible.
- To provide more privileges to our users, we have adopted OKB as our utility token.
- The platform allows fiat-crypto trading alongside crypto-to-crypto trading.
- Some 1.1% of the circulating Bitcoin supply is held in OKEx cryptocurrency wallets.
- Hong Kong-based crypto sources said that Xu may be being held to help an investigation into the backdoor listing of OK Group in Hong Kong in 2019 and is not related to the exchange’s withdrawal issue.
As well as spot trading of cryptocurrencies, it also allows fiat-to-crypto transactions and futures trading. OKEx is a world-leading cryptocurrency spot and derivatives exchange that offers some of the most diverse and sophisticated products, solutions and trading tools on the market. Trusted by millions of users globally, we believe that cryptocurrency will reshape our money and society, enabling all people to live with dignity and freedom. With our extensive range of crypto products and services, and our unwavering commitment to innovation, our mission is to promote and advance cryptocurrency globally — and empower every individual on earth. HONG KONG – OKEX, one of the world’s largest cryptocurrency exchanges, said on Friday it had suspended withdrawals of digital assets, also known as cryptocurrencies. OKEx is a digital asset exchange that provides advanced financial services to traders globally by using blockchain technology. Founded in 2014 by Star XU, Belize-based OKex is a cryptocurrency and digital assets exchange that splits opinion.
The spot trading feature has a high liquidity order book with low spreads. It has 17 payment methods like VISA, MasterCard, and others, for purchasing crypto. Unfortunately, the Bank of Pakistan has prohibited dealing with cryptocurrency since April of this year. Maximum limits also apply to individual transactions and to the amount you can trade each day. The limits for a selection of popular currencies are shown in the table below.
The rating results published on Cointelligence are based on an independent rating system developed by the Cointelligence team. They do not reflect any official governmental approval or regulatory compliance. According to Forkast.news, the Ontario Securities Commission is examining holding the operators of the OKEx Platform (Aux Cayes Fintech Co. Ltd.) accountable for alleged securities law violation. Get the latest crypto news, updates, and reports by subscribing to our free newsletter. The Lightning Network is a second layer that works atop Bitcoin to facilitate faster and cheaper transactions than Bitcoin’s primary network.
OKEx platform offers a wide range of trading tools for every level of investment need from complete beginners to professionals. The exchange itself is full of features and displays very impressive volume numbers, attracting incredible amounts of volume for many trading pairs, often beating the rest of the market. However, there are several reports of much of the volume being simply wash trading — orchestrated by the exchange to attract actual traders to the platform. According to data from CoinMarketCap, OKEx Korea’s daily trading volume amounts to $1.8 million at publishing time, compared to $6 billion on the global exchange. The abrupt closure of OKEx Korea comes ahead of a new regulatory regime for cryptocurrencies and related service providers that will enter into force on March 25. A list of top cryptocurrencies on OKEx exchange based on the highest 24h trading volume, with their current price.
Globe Derivative Exchange prepares to launch its platform next month by raising $18 million for a token sale. RUNE, OKB and MOVR pressed higher even as traders continue to pull profits from Ether and BTC.
This is where users who provide liquidity to a decentralized protocol can passively earn its tokens in exchange. The return from liquidity mining can be much higher than that of staking. Many or all of the products here are from our partners that pay us a commission. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. We do receive compensation from some partners whose offers appear on this page.
Author: Kevin Helms