Review of the OKEx cryptocurrency exchange: features, replenishment and withdrawal of funds, brief trading instructions, reviews
The OKEx cryptocurrency exchange is a convenient platform where you can make money on speculation of virtual coins, quickly and profitably exchange one cryptocurrency for another for further withdrawal, or purchase a certain amount of crypto for fiat money (rubles, dollars and others), including for the purpose of investing.
Among other similar trading platforms, OKEx stands out for trading volume, has its own token and advanced functionality for crypto traders.
Hkex Exchange: a brief history and features
Hong Kong cryptocurrency exchange OKEx entered the market in 2014. She declared her mission to develop new technologies and launch innovative products for cryptocurrency trading. The creators of the platform believe that the introduction of blockchain will eventually lead to a change in the economy around the world.
The exchange belongs to OKCoin, a company registered in California. The head of the company is a well-known businessman Star Hu. He started his business in the USA. But in connection with the policy pursued by the American government of banning projects related to blockchain technologies (in particular, the ban on trading futures for cryptocurrency), the exchange registered in Hong Kong.
In 2018, the exchange moved to Malta, where the legislation is more loyal and business development in the field of crypto projects is even more favorable.
Advantages and disadvantages of OKEx
The following advantages of OKEh as a trading platform can be distinguished:
- there is support for the interface in Russian;
- there are more than 140 coins, 100 types of tokens and 360 currency pairs in circulation;
- more than 30 fiat currencies are supported;
- the possibility of obtaining leverage;
- there are training video courses;
- availability of an affiliate program;
- high level of security.
In addition to the web interface, the exchange has mobile applications for Android and iOS platforms.
The Orekh exchange token entitles you to receive discounts. Since 2018, half of the platform’s profits are distributed among users in proportion to the number of tokens they have.
Another advantage of the OKEh exchange is an indefinite swap (cryptocurrency derivative) with a leverage from 1 to 100. Currently, it is only available for the Bitcoin/US dollar pair. The value of the swap contract in dollar equivalent is $ 100. The user can make a profit when the price of bitcoin increases with an open long position or when the price decreases with an open short position.
The disadvantages of the exchange include large commissions when working with fiat money and mandatory verification. The support service works only in English.
Registration, verification and security settings
To start registration, you need to go to the official website of the exchange okex.com and click the “Create account” button. A page with a registration form will open.
In the fields of the form, you need to enter the email address and the invented password, and then click “Continue”. You can also register through a Google account or Telegram.
When registering via e-mail, you will receive an email with an activation code, it must be entered in the form on the exchange’s website. Therefore, it is important to specify the work email that you have access to.
After registration, it is necessary to go through the verification procedure (identity verification) in order to get the opportunity to trade. To do this, you need to fill out an extended version of the questionnaire, including information about the documents.
To edit the security settings, go to the “Settings” section in the top menu, and then to the “Security” tab. To increase the security of using your personal account, you can additionally install Google authentication. To withdraw funds, you will need an administrator password.
How to top up an account on the OkeX exchange
Only verified users can top up their account and start trading cryptocurrency. To top up your account, go to the “Assets” section and select “Top up”.
After that, you should choose the type of cryptocurrency – the wallet address will appear, which you need to copy and send cryptomonets to it.
How to trade on OKeX
For trading operations, there is a section “Trades” in the personal account. When making any transaction, you must first select the type of order (instant or deferred). Then, in the “Price” section, you need to specify the desired transaction price, and in the “Volume” section – the number of cryptomonets.
After displaying the total value of the transaction, you need to click on the “Buy” or “Sell” button, if all the conditions are satisfied. For security, it is not recommended to keep large amounts of currency on the exchange.
How to withdraw money from OKex
To withdraw funds, there is a “Withdrawal” section in your personal account. In the form that opens, you need to enter the wallet address for currency withdrawal and click the operation confirmation button.
Important! All transactions are available after setting up account security.
Trading operations can be carried out not only through the web interface, which is adapted for use in mobile devices. Users can also install convenient mobile applications with full functionality for trading on gadgets.
There is a version for both iOS and Android. You need to download the mobile app in the official AppStore and GooglePay app stores.
Mobile applications are activated after replenishment of the balance. The minimum deposit amount depends on the type of cryptocurrency.
Reviews of the OKeX exchange
Users appreciate the OKEx exchange for a large number of tools for trading cryptocurrencies, the ability to use fiat, a user-friendly interface for both experienced users and beginners.
As disadvantages, periodic site freezes under heavy loads and slow work of technical support are noted. Users from Russia note poor-quality translation of the interface into Russian. Another inconvenience: the account can be replenished with rubles, but money withdrawal to ruble cards is not possible.
In general, the functionality and capabilities of the OKEx exchange (after a successful identity verification procedure) are convenient for carrying out all necessary operations with cryptocurrency.
Published: 7 January, 2022