> ## Content Index > Fetch the complete content index at: https://blockdyor.com/llms.txt > Use this file to discover other available public pages before exploring further. # OKX Review: Features, Safety and Fees - URL: https://blockdyor.com/okx/ - Published: 2023-02-03T12:53:26.000Z - Updated: 2025-03-15T15:32:21.000Z - Description: This comprehensive review will delve into OKX, a globally recognized cryptocurrency exchange renowned for its low fees and advanced Web3 features. - Author: Kate Porter - Tags: reviews **OKX** is a world-famous crypto exchange, renowned for its **low fee structure** and **Web3** features. Despite its unavailability to users based in the US, it remains a reliable option for individuals seeking to purchase, stake, and transact a vast portfolio of currencies, but other digital assets, such as **NFT**s. This review will comprehensively examine the features, fees, advantages and disadvantages of this exchange, providing a **detailed analysis**. ๐Ÿ‘‰ [Click here to open an account on OKX and get a 10% discount on fees with the BLOCKDYOR code](https://blockdyor.com/go/okx). | DESCRIPTION | DETAILS | | ---------------------- | ------------------------------------- | | ๐ŸŒ Website | okx.com | | ๐Ÿ™๏ธ Location | Seychelles | | ๐Ÿ“… Year Founded | 2017 | | ๐Ÿ’ฐ Primary Token | OKB | | ๐Ÿ“ˆ Listed Crypto | 98 | | ๐Ÿ’ฑ Trading Pairs | +300 | | ๐Ÿ’ต Supported FIAT | 94 Fiat Currencies | | ๐ŸŒ Supported Countries | Excluding the United States | | ๐Ÿ’ฐ Minimum Deposit | Varies based on the deposit method | | ๐Ÿ’ธ Deposit Fees | Varies based on the deposit method | | ๐Ÿ’ฐ Daily Buying Limit | Varies based on verification level | | ๐Ÿ’ฑ Trading Fees | Low fees | | ๐Ÿ’ธ Withdrawal Fees | Varies based on the withdrawal method | | ๐Ÿ“ฑ Mobile App | iOS, Android | | ๐Ÿ’ฌ Customer Support | Twitter and Telegram channels | ## OKX overview ![OKX overview](https://blockdyor.com/content/images/2023/01/OKX-Overview.png) OKX overview **OKX** is a crypto exchange that lets you **buy**, **sell**, and trade different cryptocurrencies and digital assets. You can **buy crypto on OKX** with a credit card, bank account, or mobile wallet. You can also **earn high rewards** through **staking** and **saving** features. OKX supports **many cryptocurrencies** and has a diverse array of services. However, as we already said, it's not available in the United States. If you want to manage all your crypto activities in one place, OKX might be right for you. ### OKX: brief history **OKX** is headquartered in Valletta, Malta, and is one of **largest platform** of its kind in the world. With a user base spanning more than **100 countries**, the exchange claims to have over **20 million clients**. However, it does not serve clients based in the United States due to **regulatory restrictions**. OKX offers a **comprehensive** suite of services to its eligible clients, including the ability to trade over 340 spot currencies and access to margin borrowing, staking, savings, cryptocurrency-backed loans, and advanced offerings such as mining pools and its proprietary blockchain, **OKXChain**. ![Star Xu, founder of the OKGroup.](https://blockdyor.com/content/images/2023/01/Mingxing-Xu.jpg) Star Xu, founder of the OKGroup. Established by **Star Xu** (real name: Mingxing Xu) in 2017, OKX emerged from the successful **foundation** of its predecessor, **OKCoin**, founded by Xu in 2013 in China. ![Star Xu, CZ and He Yi at OKCoin](https://blockdyor.com/content/images/2023/01/Star-Xu--CZ-and-He-Yi-at-OKCoin.png) Star Xu, CZ and He Yi at OKCoin Prior to establishing [Binance](https://blockdyor.com/binance/), **CZ** and **He Yi** grew up in the crypto world by also spending some time at OKCoin, which is now widely known as OKX. Under Xu's leadership, the OKCoin exchange evolved into the OK Group, a company dedicated to providing **blockchain infrastructure**. However, OKX, the Malta-based exchange, operates as a separate entity from the OK Group. Despite his pivotal role in founding the OK Group, Xu holds no affiliation with OKX, serving solely as the **CEO** of the **OK Group**. For those seeking a multi-faceted platform for their cryptocurrency needs, **OKX** may be a suitable choice as a **complementary exchange** or a primary hub for **all things crypto**. ## OKX Quick Review | Category | Feature | Score | | -------------------------------------- | --------------------------------------------------------------------------------------------- | ----- | | **๐Ÿ” Privacy & Security (22/50)** | | | | ๐Ÿ•ต๏ธ Non-KYC | The exchange enforces the KYC to every user | 1/10 | | ๐Ÿ” Non-Custodial | The exchange is fully custodial, users can withdraw their funds | 2/10 | | ๐Ÿ‘ฅ Peer To Peer | The exchange doesn't offer P2P trading | 5/5 | | ๐ŸŒ Decentralization | The exchange is centralized | 1/5 | | ๐Ÿ”’ Encryption | The exchange encrypts all confidential data transfers | 5/5 | | ๐ŸŒ TOR Connection | It's not possible to connect to the exchange with TOR | 1/5 | | ๐Ÿ“‚ Open Source | Some software used by the exchange is open source | 2/5 | | ๐Ÿ“ฑ 2FA | The exchange offers two-factor authentication | 5/5 | | **๐Ÿš€ Features (38/50)** | | | | ๐Ÿ–ฅ๏ธ User-Friendly UX | The platform can be challenging and confusing for beginners | 3/5 | | ๐Ÿ’ต Fiat Onramp/Offramp | Fiat onramp and offramp methods are many | 4/5 | | ๐Ÿ’ธ Taker Fee | From 0.10%, it decreases as the trading volume increases | 4/5 | | ๐Ÿ’ธ Maker Fee | From 0.08%, it decreases as the trading volume increases | 4/5 | | ๐Ÿ’ธ Withdrawal Fee | For BTC (Bitcoin Network) the commission is 0.0004 BTC | 5/5 | | โ˜Ž๏ธ Customer Service | Available via chat and ticket | 5/5 | | ๐Ÿ“š Documentation | Plenty of documentation on the official website | 5/5 | | ๐Ÿšฎ Altcoins | Several altcoins and NFTs supported | 5/5 | | โšก Lightning Network Withdrawal/Deposit | The exchange supports the possibility to withdraw/deposit Bitcoin using the lightning network | 1/5 | | ๐Ÿ’ง Liquid Network Withdrawal/Deposit | Not possible to withdraw or deposit Bitcoin with the liquid network | 1/5 | | **๐Ÿงฑblockdyor Score (60/100)** | | | ## Setting up an OKX account ![OKX Create an Account page](https://blockdyor.com/content/images/2023/01/OKX-Create-an-Account.jpg) OKX Create an Account page Setting up an **OKX** **account** is a **simple** process that can be completed in a few quick steps. - Visit the **OKX website** and click the "**Sign Up**" button located in the top right corner. ๐Ÿ‘‰ [Click here to open an account on OKX and get a 10% discount on fees with the BLOCKDYOR code](https://blockdyor.com/go/okx). - Fill in the registration form by entering your **personal information**, including name, email, and a secure password with a mix of letters, numbers, and capitalization. - Upon submission, you will receive an email from OKX. Click the **activation** link in the email to activate your account. - For added security, **enable two-factor authentication using Google Authenticator or Authy**. - To **deposit funds**, remember that you must complete the KYC verification process, which involves providing personal information and documentation. - After successful verification, you can deposit funds and access more features on the platform. By following these steps, you will have a **fully operational OKX** **account** and can start trading **crypto**. Remember to keep your account information and login credentials safe. ## OKX funding methods To start operating on **OKX**, you must first **deposit** funds into your account. There are **two ways** to do this: 1. Purchase cryptocurrencies using fiat currencies through the Buy Crypto channel. 2. Transfer your existing cryptocurrency assets from another source to your OKX Funding Account. ### Buy/Sell Crypto At **OKX**, buying/selling **crypto** is facilitated through an extended list of convenient methods. - Firstly, one can **purchase cryptocurrency using their debit/credit**, with a broad spectrum of **over 94 currencies supported** and an array of cards accepted, including VISA, Mastercard, and Apple Pay. Also [Curve](https://blockdyor.com/curve/) is supported. - Secondly, OKX offers **P2P trading**, which enables you to create your own marketplace and transact with others, using your preferred local currency and payment methods, such as [Revolut](https://blockdyor.com/revolut/) or Wise to mention two. - Lastly, OKX has partnered with third-party payment providers, such as **Mercuryo**, **Simplex**, **Banxa**, and **Moonpay**, to **streamline the buying and selling of cryptocurrency**. ### Trade Crypto The OKX **active trading platform** caters to the needs of experienced traders, offering **market**, **limit**, and **stop** orders; advanced **conditional trades**; real-time updates on **supported currencies**; and customizable **charting options**. The platform also allows for **personalization**, giving users the option to create custom layouts and integrate a **built-in trading bot** to implement **trade strategies** with **precision**. In the trading section of OKX, a range of options are available for users, including: - **Conversion**: fast conversion with zero fees and no slippage; - **Basic Trading**, which includes the options of Spot or Simple Options; - **Derivatives and Margins Trading**, offering a comprehensive range of contracts and margin products, including Futures, Margins, Options, and Perpetual Swaps; - **Trading Bots**, offering multiple automated strategies through a Marketplace, and the ability to create a custom bot; - **The Liquid Marketplace**, allowing for instant trading of spot OTC, futures spreads, and options strategies at the preferred price. ## Is OKX Safe? ![OKX Security](https://blockdyor.com/content/images/2023/01/OKX-Security.jpg) OKX Security Having established its roots in **Hong Kong**, **OKX** has since expanded its reach to **Malta**, where it **operates under the stringent regulations** of the local government to ensure the **utmost security for its users**. We will deep dive in the **regulations** topic in the next paragraphs. The platform's security measures are similar to the ones of the other popular exchanges such as [Coinbase](https://blockdyor.com/coinbase/) and [KuCoin](https://blockdyor.com/kucoin/), including **bank-level SSL encryption**, **KYC (know-your-customer)** verification, email verification codes, **2-factor authentication**, withdrawal passwords, and mobile verification codes, which altogether ensure a **smooth and secure overall experience**. **OKX** implements several security features to ensure the **safe storage** and handling of **cryptocurrencies**. One of these features is **offline storage**, where cryptocurrencies are stored in a secure location that is not connected to the internet. This ensures that the crypto assets are protected from potential online hacking or security breaches. Additionally, OKX also has **online storage**, where cryptocurrencies are stored on servers that are protected by multiple layers of security. The **OKX Risk Shield** is another security feature that provides **real-time monitoring** and protection against potential security threats. Together, these security features provide a **comprehensive and secure environment** for **storing and handling cryptocurrencies**. Despite past controversies and negative reviews, **OKX** has persevered and has taken steps to increase the security of its infrastructure, protecting its **reputation** and ensuring the **safety** of its users. ### OKX Proof of reserves ![OKX Copy Trading](https://blockdyor.com/content/images/2023/01/OKX-Proof-of-Reserves.jpg) OKX Copy Trading OKX takes pride in its commitment to ensuring the safety and security of its customers' assets. The company maintains a **1:1 reserve** of all customer assets on its platform and provides full transparency regarding to its reserves and the funds of its customers. The **safety and security** of funds is considered the company's greatest responsibility and top priority. OKX's reputation for best-in-class security is further reinforced through the implementation of **Proof of Reserves (PoR)**. The **company's on-chain wallet holdings** are made publicly available, allowing customers to verify that their funds are backed 1:1 by real assets. OKX also regularly publishes Proof of Reserve audits, making it easy for customers to confirm that their assets are **securely held** in the company's reserves. ### OKX Regulations As said, OKEx is registered in both Hong Kong and **Malta**, and offers **VFAA** compliant trading services. As a regulated authority under **Malta Financial Services**, the **Virtual Financial Asset Act,** or **VFAA**, ensures the trustworthiness of OKX. With a proven track record of security and favorable user experiences, OKX is widely regarded as one of the **safest crypto trading platforms** globally. ## OKX Fees **OKX** offers a **comprehensive fee structure** for its users, covering various aspects of trading, deposit/withdrawal, staking and more. ### Trading fees The **fees** for trading on the platform vary for regular and **VIP** users. Regular users are grouped based on their total holdings of OKB, while VIP users are classified by their **30-day trading volumes** and daily asset balances. These tiers are **reviewed daily**. If a user meets the requirements for different fee tiers, including **spot trading volume**, total trading volume of futures and perpetual contracts (USDT-margined, USDC-margined, and crypto-margined), options trading volume, and total assets, they will receive the **highest fee tier** discount. For example, if a user's 30-day spot trading volume is 20,000,000 USD (VIP 2), 30-day total trading volume of futures and perpetual contracts is 200,000,000 USD (VIP 3), 30-day options trading volume is 5,000,000 USD (VIP 1), and their total assets as of today are 5,000,000 USD (VIP 4), they will receive discounts in all markets as a VIP 4 user. OKX has an interesting fee structure, with market makers paying from a 0.08% fee and market takers from a 0.10% fee, placing the exchange among the most cost-effective options. Spot trading fees structure example for USDT/USDโ“ˆ/Crypto pairs. | Tier | Total OKB holding | Assets (USD) | 30-day trading volume (USD) | Maker fee | Taker fee | 24h withdrawal limit (BTC) | | ---- | ----------------- | ------------ | --------------------------- | --------- | --------- | -------------------------- | | Lv1 | < 500 | < 100,000 | < 10,000,000 | 0.080% | 0.100% | 500 | | Lv2 | โ‰ฅ 500 | < 100,000 | < 10,000,000 | 0.075% | 0.095% | 500 | | Lv3 | โ‰ฅ 1,000 | < 100,000 | < 10,000,000 | 0.070% | 0.090% | 500 | | Lv4 | โ‰ฅ 1,500 | < 100,000 | < 10,000,000 | 0.065% | 0.085% | 500 | | Lv5 | โ‰ฅ 2,000 | < 100,000 | < 10,000,000 | 0.060% | 0.080% | 500 | ### Deposit/Withdrawal fees Additionally, OKX's withdrawal fees are also low, with a 0.0005 BTC fee for Bitcoin withdrawals, making it a cost-efficient option. As a no-fiat exchange, OKX does not charge any deposit fees for funding accounts with cryptocurrencies. Overall, OKX is a worthy consideration, especially for low market cap altcoin investments. ## Cryptocurrencies available OKX supports a comprehensive range of cryptocurrencies, offering access to over **350 digital assets** and over 500 trading pairs. The platform has a diverse portfolio of tokens, including well-established **cryptos** such as: - Bitcoin (BTC); - Ethereum (ETH); - OKB (OKX Utility Token); - Aave (AAVE); - Solana (SOL); - Cardano (ADA) - Polygon (MATIC) - Ripple (XRP) - Dogecoin (DOGE) - Shiba Inu (SHIB) - Polkadot (DOT) ## OKX Features **OKX** boasts several features that offer unique insights into the cryptocurrency realm. This section will highlight the key features of OKX beyond trading and purchasing cryptocurrency, including **copytrading**, earning, loaning, the **Web3 wallet**, and a particularly uncommon feature - **demo trading**. ### OKX Copy Trading ![OKX Copy Trading](https://blockdyor.com/content/images/2023/01/OKX-Copy-Trading.jpg) OKX Copy Trading With this tool, users are able to share their successful trading strategies and **earn profits** or learn from professional traders from around the world through **copying their trades**. By becoming a **lead trader**, users can earn an additional **12% profit share** from those who follow their trades. **Copy Trading** offers a unique opportunity for users to learn from top traders and enhance their own trading experience. ### OKX Earn OKX offers numerous possibilities for users to obtain crypto, including their complimentary Bitcoin offer, services such as OKX Pool, and decentralized finance offerings within MetaX. Additionally, there are also off-chain options for **generating passive income**. OKX Earn serves as a centralized hub for all earning opportunities on the OKX platform. Currently, OKX Earn offers eight products that allow users to **earn passive income** with their crypto assets: - Staking; - Savings; - Dual Investment; - DeFi; - DOT and KSM slot auctions; - ETH 2.0 staking; - Jumpstart; - P2P lending. ### Web3 Wallet ![OKX Web3 Wallet](https://blockdyor.com/content/images/2023/01/OKX-Web3-Wallet.jpg) OKX Web3 Wallet The **OKX Wallet** is an advanced and secure **digital asset management** solution, offering a noncustodial platform for the storage of multichain assets. It's an all-around platform that gives the functions of a crypto wallet, decentralized exchange, Non-Fungible Token marketplace, and yield generation. It is available as either a browser extension or a mobile/web application, this wallet provides you with complete control over your Web3 Wallet and the crypto assets stored within. As the custodian of your funds, you are the sole owner of the transfer of assets on any supported network, with no other participant, including OKX, having any authority over your wallet. ### OKX Demo Trading ![OKX Demo Trading](https://blockdyor.com/content/images/2023/01/OKX-Demo-Trading.jpg) OKX Demo Trading OKX offers an unparalleled opportunity to sharpen your trading skills through the utilization of a fully-functional demo trading platform. With access to the entire portfolio of tokens offered on the real exchange, you are provided with an unlimited range of possibilities to practice and familiarize yourself with the various functions of the cryptocurrency market, both manual or bot trading. On spot or futures contracts. This valuable opportunity serves as an excellent training tool for when you are ready to invest real money in the world of crypto. In order to use the demo trading account, you just need to open an account. **No KYC needed**. ๐Ÿ‘‰ [Click here to open an account on OKX and get a 10% discount on fees with the BLOCKDYOR code](https://blockdyor.com/go/okx). ## OKX Trading Platforms OKX presents **three distinct modes** of access to its trading platform: a convert super-simple platform or a **straightforward** web application or mobile applications for both Android and **iOS devices**. Let us examine **each of these options** in greater detail to gain a deeper understanding of the functionality and **features offered by OKX**. ### OKX Convert Trading Platform ![The OKX Convert interface.](https://blockdyor.com/content/images/2023/01/OKX-Convert.jpg) The OKX Convert interface The Convert platform by OKX is the epitome of simplicity in trading. With the ability to seamlessly exchange top cryptocurrencies and stablecoins with zero fees and minimal price deviation, the Convert platform streamlines the trading experience for users of all levels. By simply selecting the desired conversion pair, OKX takes care of the rest, ensuring that trades are executed promptly and efficiently. Although this option may be more costly than others, as trades are executed at market price rather than a set limit, it remains an excellent choice for **novice** traders seeking a straightforward and user-friendly solution. ### OKX Advanced Trading Platform The **OKX** active trading platform caters to the needs of seasoned traders with its sophisticated features, including support for market, limit, and stop orders, advanced conditional trades, and flexible market charts. The platform also offers a comprehensive **open order book** for supported coins on the OKX exchange. The added convenience of being able to choose from **multiple available layouts** or build custom ones, enhances the overall trading experience for advanced users. Additionally, the platform comes equipped with a built-in **trading bot**, allowing users to execute trades with a set of predefined **rules**, making it ideal for margin trading or executing other advanced strategies. ### OKX Mobile Apps ![](https://blockdyor.com/content/images/2023/01/OKX-Mobile-Apps.jpg) The OKX mobile applications for **iOS** and **Android** offer a **simplified trading experience** while providing the **flexibility** to trade cryptocurrencies on-the-go. The **apps** grant access to a diverse range of features, including margin and derivative trading, a Non-Fungible Token marketplace, a decentralized finance wallet, and much more, all from the comfort of your mobile device. The seamless integration of these essential tools into one centralized platform enhances the overall trading experience for users seeking a more convenient and accessible solution. ## OKX Opinions ![OKX Trustpilot](https://blockdyor.com/content/images/2023/01/OKX-Trustpilot.jpg) OKX Trustpilot OKX has received a blend of opinions on consumer review platforms. While patrons commend its **seamless** online interface, prompt transactions, and minimal fees, detractors lament the lackluster customer support, **missing funds**, and sluggish withdrawal speeds. On Trustpilot, OKX holds a moderately impressive average rating of 3.3 stars out of five, based on nearly 450 evaluations, a score well above average for cryptocurrency exchanges. ## OKX Alternatives Suitable alternatives for OKX represents exchanges with a lot of altcoins, NFT and power user functions. We reviewed some of them, so you might be interested to check them out. | | OKX | KuCoin | Binance | | ------------------------ | ---------------- | ---------------- | ---------------- | | ๐Ÿงฑ blockdyor Total Score | 60/100 | 57/100 | 60/100 | | ๐Ÿ•ต๏ธ Non-KYC | No | No | No | | ๐Ÿ” Non-Custodial | No | No | No | | ๐Ÿ‘ฅ P2P | No | Yes | No | | ๐Ÿ’ต Fiat Onramp/Offramp | Yes | Yes | Yes | | ๐Ÿ’ธ Taker/Maker Fees | From 0.26%/0.16% | From 0.10%/0.10% | From 0.40%/0.30% | **KuCoin**: Positioned as one of the major Asian exchanges, KuCoin offers the buying and selling of Bitcoin and a multitude of other cryptocurrencies. If you have a preference for altcoins and reside outside the USA or Canada, KuCoin could be a suitable option, provided you are comfortable with KYC requirements, which they implemented relatively late compared to others. Explore more details in our comprehensive [KuCoin review](https://blockdyor.com/kucoin/). **Binance**: Despite the challenges involving its founder Changpeng Zhao and the discontinuation of its fiat partner Paysafe, Binance remains the largest exchange globally in terms of liquidity. Considering its extensive range of features and trading instruments, it remains a noteworthy consideration. Delve deeper into our detailed [Binance Review](https://blockdyor.com/binance/) for a more thorough understanding. ## OKX Pros and Cons | Pros | Cons | | ----------------------------------------------------------------------------------------------- | ---------------------------------------------------- | | Low trading fees, with most trades incurring 0.08% or less | Currently inaccessible to users in the United States | | Generous high-interest staking options | Limited liquidity for some cryptocurrencies | | Effortless acquisition of cryptocurrency via credit/debit card, bank account, or digital wallet | Mixed feedback from previous users | ## Bottom Line **OKX** is one of the biggest cryptocurrency exchange out there, **Malta-regulated** and widely trusted by a substantial number of users. It offers a **straightforward** and convenient platform for individuals of all levels of cryptocurrency proficiency, allowing for the purchase, retention, and exchange of a diverse array of popular cryptocurrencies, all at **competitive transaction fees**. However, some previous inconsistencies, ambiguous information, and customer complaints should prompt a cautious approach. To ensure **maximum security** for your account and assets, it is advisable to utilize **OKX**'s advanced security features. With a familiarization of online financial products and adherence to security best practices, one can expect a positive experience with OKX. ![](https://blockdyor.com/content/images/2024/01/OKX-Logo.webp) #### OKX Evaluation With a ****blockdyor Score of 60 out of 100**, OKX emerges as a satisfactory solution for crypto investments. ****Reputation:** OKX has cultivated a strong reputation, bolstered by significant investments in marketing. However, it is noteworthy that the exchange has experienced security breaches in the past. ****Technology:** Known for its diverse functionalities, OKX is actively exploring and promoting NFTs and emerging blockchain technologies. ****Customer Service:** OKX offers responsive and supportive customer service primarily through chat and tickets. ****Fees:** While OKX provides low trading fees, it also maintains low withdrawal fees. ****Ease of Use:** The OKX platform may not be particularly user-friendly, appearing more tailored for expert traders. The interface can be overwhelming initially, and beginners might find the app a more accessible starting point, given its streamlined options compared to the desktop web app. ๐Ÿ‘‰ [Click here to open an account on OKX and get a 10% discount on fees with the BLOCKDYOR code](https://blockdyor.com/go/okx). ## Frequently asked questions (FAQ) ### Is OKX safe? OKX employs security measures such as cold storage for a majority of customer assets, and offers additional protection through options like a withdrawal password, two-factor authentication and anti-phishing codes. ### What is the OKX giveaway? It's a promotion to mark the launch of the OKX brand campaign, they are giving away $100,000 in BTC. By entering your email, individuals will find out if they are a winner. ### What is OKX? OKX, previously named OKEx, is a cryptocurrency and derivatives exchange based in Malta. Established in 2017 by Star Xu, it is a subsidiary of OK Group, which also operates the cryptocurrency exchange Okcoin. The CEO is Jay Hao, and the CMO is Haider Rafique.