If you are not ready to bag the risks involved with trading crypto directly, a great alternative is buying shares and stocks of companies exposed to cryptocurrency. However, that has fewer crypto rewards compared to a direct cryptocurrency exchange.
Trading cryptocurrency assets comes with its risks but can be highly lucrative for intelligent traders. It is a great investment option for individuals looking to benefit directly from the ever-rising demand for digital currency. One of the first steps, before you start trading crypto, is to find a reliable cryptocurrency exchange platform.
OKEx is one of the most popular cryptocurrency platforms in the world today, with more than 20 million global clients. Here is a general overview of OKEx to help you find out whether to open an OKEx trading account today.
What is OKEx?
OKEx is an online cryptocurrency exchange platform that allows traders to trade various digital currencies, including Chia (XCH) and Bitcoin (BTC). Since its inception in 2014, OKEx has grown steadily, attracting over 20 million global users, thanks to its derivative products, lending and mining solutions, and trade on the go nature.
Being a popular crypto exchange platform, OKEx uses cryptocurrency and blockchain technology to provide a diverse range of trading products for its clients. It is available in over 200 countries around the globe, providing hundreds of staked tokens to each client.
OKEx is one of the best cryptocurrency exchange platforms for traders new to crypto as it provides innovative financial services as well as fantastic primers for newbies. It offers a long variety of services, including flexible borrowing options and methods to earn interest through tokens. OKEx cryptocurrency exchange provides basic and complex cryptocurrency trading instruments, crypto-mining, and DeFi liquidity mining for interested traders.
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How OKEx Works
As we already mentioned, OKEx cryptocurrency exchange is a platform that provides a wide range of advanced financial services based on blockchain technology. It facilitates crypto trading through the provision of trading, investment, and learning resources.
- Apart from futures trading, this crypto trading platform provides the following services: Margin trading
- Lending and Borrowing
- Perpetual swaps
- Decentralized Finance (DeFi)
- Crypto mining
Exchange Platform OKEx cryptocurrency exchange is available in a web and app version, downloadable for both PCs and Smartphones. Trading platforms are relatively heavy sites that run on massive memory and high processing power. For that reason, a web version might not be your best option. A downloadable app eliminates the possibility of memory and processing-related crashes that are common with browsers.
Being a modern crypto platform, OKEx has a well-designed exchange platform. It resembles high-end typical financial market trading platforms and offers an easy-to-navigate user interface for maximum usability. The cryptocurrency platform also features a charting feature that would prove helpful for a trader of any level.
The user interface features intuitive dashboards where you can perform a wide range of trading activities including:
- Viewing and comparing cryptocurrency prices in real-time
- Buy and sell digital assets in a few simple clicks
- Analyze volume data while comparing token prices across a variety of exchanges
- Set up price-change notifications to alert you on changes in price on the coins you are keeping track of Both the app and web-based versions offer the same features.
Meaning you can predict prices and start exchanging crypto with a wide range of cryptocurrency trading instruments.
OKEx cryptocurrency exchange is a modern platform. Therefore, it offers both crypto-to-crypto and fiat-to-crypto trading, which is standard for all cryptocurrency exchange platforms. The cryptocurrency exchange platform supports well over a hundred cryptocurrencies and tokens, with consistent improvements bringing in new ones regularly. The OKEx cryptocurrency exchange market also offers options, perpetual swaps, and quarterly features that enable clients to speculate on the digital currency market.
In addition, it compiles valuable data, such as current prices, recent volumes, and open interest info, in an easy-to-understand manner, making it easier for interested traders to make investment decisions. As we already mentioned, OKEx is an ever-improving cryptocurrency platform. Therefore, the pool of available products is ever-growing.
OKEx is one of the most popular exchange platforms partly due to its impressively low trading fees. Fees are categorized into two primary tiers, each with multiple levels. The categorization of trading accounts into tiers is based on the average 30-day trading volume and the OKB held by the trader.
OKB is the native crypto for the OKEx cryptocurrency exchange platform. The exchange platform updates fees for crypto pairs for traders daily, ensuring a trader knows exactly what they’ll pay while trading different products.
The two tiers are for:
- Regular users
- VIP users
If you are a regular user, your fees are determined by the quantity of OKB you have. Meaning your trading fees would reduce as the amount of OKB on your ecosystem increases. Like any other crypto exchange platform, you will pay the maker fee if you are the initiator of the purchase/sell order. On the other hand, you will pay the take fee if you are on the other end of the purchase/sell transaction.
The trading fees for VIP users are determined by their trading volume over a span of 30 days. Therefore, the more volume a VIP trader trades, the lower the trading fee.