OKX, formerly known as OKEx, is a leading global cryptocurrency exchange founded in 2014 by Chinese entrepreneur Star Xu. Over the years, it has evolved to meet regulatory demands and user expectations, offering innovative trading tools, robust security, and access to 350+ cryptocurrencies. This review explores OKX’s history, key features, fees, and user feedback.
History and Evolution of OKX
OKX began as OKEx in 2014, operating from Hong Kong under Star Xu’s leadership. Regulatory shifts in China prompted relocations to Malta and Seychelles, and in 2022, the platform rebranded to OKX to reflect its expanded services.
Key Milestones:
- 2014: Launched as OKEx, focusing on crypto derivatives.
- 2020: Relocated due to China’s crypto crackdown.
- 2022: Rebranded to OKX, emphasizing multi-service versatility.
👉 Discover how OKX compares to other top exchanges
Security Measures
OKX prioritizes security with:
– HTTPS encryption and two-factor authentication (2FA).
– Cold storage for 95% of user funds.
– Transparency audits post-2020 withdrawal incident (resolved in 6 weeks).
Features and Services
- Trading Options:
- Spot, futures, and margin trading (up to 10x leverage).
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NFT marketplace and staking for passive income.
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Payment Methods:
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Visa, Mastercard, Apple Pay, and API integration for automated trading.
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Supported Cryptos:
- 350+ tokens, including BTC, ETH, and stablecoins.
Fee Structure
| Fee Type | Cost (Standard) | Discounts Available? |
|---|---|---|
| Maker Fee | 0.08% | Yes (OKB token/high volume) |
| Taker Fee | 0.10% | Yes |
| BTC Withdrawal | 0.0002 BTC | N/A |
Account Verification
- Basic Info: Email, password, and personal details.
- ID Verification: Upload government-issued ID and proof of address.
- Full verification unlocks higher limits and fiat transactions.
User Opinions
Pros:
– Wide crypto selection and advanced tools.
– Reliable mobile app.
Cons:
– Lengthy KYC process.
– Geographic restrictions in some countries.
FAQs
1. Is OKX safe?
Yes, with cold storage, 2FA, and regular audits. The 2020 incident was swiftly resolved.
2. What countries are restricted?
OKX bans users from the U.S., China, and a few others due to regulations.
3. How do fee discounts work?
Hold OKB tokens or trade with high monthly volume to reduce fees.
4. Can I trade NFTs on OKX?
Yes, the platform supports NFT trading and staking.
5. How long does verification take?
Typically 1–3 business days.
6. What’s the minimum deposit?
Varies by crypto; no minimum for fiat via card payments.
Final Thoughts
OKX stands out for its security, diverse features, and global adaptability. While its verification process can be tedious, the platform’s tools and liquidity make it a top choice for traders.
For competitive fees and a seamless experience:
👉 Join OKX now