OKX, a world-renowned cryptocurrency trading platform established in 2017, was formerly known as OKEX before rebranding to OKX in 2021. While many users still refer to it as OKEX, the platform's functionality remains unaffected—just ensure you're accessing the legitimate website to avoid scams.
Key Features of OKX Exchange
Diverse Cryptocurrency Derivatives
OKX offers:
- 400+ trading pairs for spot trading.
- Advanced derivatives like leveraged trading, perpetual contracts, futures contracts, and options.
- 9 order types, including limit/market orders, stop-loss/take-profit, iceberg orders, and more for strategic flexibility.
Powerful Financial Tools
For passive and active investors alike, OKX provides:
- Earn products: Staking, DeFi, and liquidity mining.
- Lending/borrowing services with Bitcoin collateral.
- OKX JumpStart: Participate in IEOs (Initial Exchange Offerings) using OKB tokens.
Infrastructure & Security
- OKX Chain: A cross-chain bridge for seamless asset transfers.
- OKX Pool: Secure and transparent Bitcoin mining services.
- Cold storage: 95% of user funds are held offline for security.
OKX Exchange Rankings and Reputation
According to CoinMarketCap:
- #3 globally in derivatives trading volume.
- #19 in spot markets, excelling in high-margin contract trading.
Security Measures
OKX prioritizes safety with:
- Google 2FA and multi-signature authorization.
- SSL encryption and Merkle Tree proof-of-reserves (covering BTC, ETH, USDT).
- Regular audits to ensure 1:1 user-asset backing.
OKB Token: The Platform's Utility Coin
OKB powers the OKX ecosystem:
- Fee discounts, staking rewards, and IEO participation.
- Quarterly burns reduce supply using 30% of trading fee revenue.
Customer Support
- 24/7 assistance via official global communities, FAQ databases, and direct contact options.
- Integrated help center for quick issue resolution.
TONCoin on OKX
Trade TonCoin (Telegram’s native cryptocurrency) on OKX, leveraging its POS consensus and growing user base.
Pros and Cons Summary
Pros:
- Unmatched derivatives variety.
- Low fees and intuitive interface.
- Robust security and transparency.
Cons:
- Lower spot market visibility compared to giants like Binance.
FAQs
1. Is OKX safe to use?
Yes, OKX employs cold storage, proof-of-reserves, and 2FA to protect user assets.
2. How does OKX’s JumpStart work?
Two modes:
- New coin mining: Stake OKB to earn tokens.
- Discounted sales: Use OKB to buy tokens at a lower price during IEOs.
3. What is OKB used for?
OKB reduces trading fees, enables staking rewards, and grants access to exclusive platform features.
4. Can I trade TonCoin on OKX?
Yes, OKX supports TonCoin trading pairs.
5. How does OKX verify its reserves?
Via Merkle Tree audits, publicly accessible on their website for BTC, ETH, and USDT holdings.
6. What makes OKX stand out?
Its derivatives focus, low fees, and seamless UX cater to both beginners and advanced traders.