Binance vs OKX 2024: Top Exchange Battle!

OKEx distinguishes its traders into Normal and VIP users based on their previous trading volumes over the prior 30 days. The OK Blockchain Foundation has issued its exclusive global utility token in which it calls ‘OKB’. On the platform, users can now purchase OKB and trade them against other digital assets. The security features on the OkEx platform are some of the most robust on the market. First off, there is two-factor authentication that you should set up as soon as you have an account with OkEx.

However, we’ve previously reviewed the best options for users wanting to trade on a no-KYC exchange. After logging into the mobile version of the OKX crypto exchange, customers are presented with a dashboard showing the platform’s top assets and any ongoing promotions. A hamburger menu is in the top left corner, and a navigation bar with links to key features is available at the bottom of the screen, making navigation easy even for those new to OKX. OKX can be intimidating for newer traders because it offers many features tailored to people who frequently trade.

How OKX Compares to Other Cryptocurrency Companies

You can also transfer your funds into OkEx by first sending the currencies to a wallet that is compatible with both exchanges and then transferring them over to OkEx. In order to deposit funds in your account, you first need to set up a free OkEx Wallet. Stop limit orders can be used to buy or sell at a specified limit point. The difference is that if you put in a buy stop limit order, it will only execute when the market falls below your pre-set price and vice versa for sell stop limit orders. Now, since this is an OKEx exchange review, you’re probably wondering how good its customer support is. If this is not the first OKEx exchange review that you’re reading, you probably know that there aren’t many platforms that can provide you with such functionality.

Second, then I tried to withdrawall my USDT to other platform, as last step was they asked me for authentification code, but they never sent it to me. Also they modified my login password and for reset it, you need again an authentification code wich they never send. If you decide to purchase digital currencies using your credit or debit card, then be prepared okex review for the 1.99% fee. This may seem a bit high, but it’s actually quite competitive since credit card fees can range between 2% and 4% depending on the exchange (and excluding any fees by your credit card provider). However, there was an incident in August 2017 where a user reported the loss of approximately 200 Bitcoins (worth about USD$750,000 at the time).

Alternatives to OKX

Binance also boasts more features and Earn products and the Binance Launchpad has a better selection of promising projects. With all these measures in place, unauthorised access to user funds would be very unlikely, and OKX has a fantastic security track record. In the event hackers did somehow manage to swipe funds, users can be further confident knowing that OKX has an insurance fund in place to reimburse customers.

This ensures that users have substantial flexibility when deploying their investment strategies. When the cryptocurrency market took an unprecedented turn in March 2020, OKEx managed to top the sector with the largest top-tier trading volume. With significant expertise in the digital asset marketplace, OKEx is now home to an unprecedented number of seasoned traders. Limit orders enable you to buy or sell at a specific price level, which is also known as an “entry point”. If you set up your order to buy and the market rises above this limit then it will not be executed until the same amount of shares have been sold first.

How OKX compares to other exchanges

We really liked OKX because they have a pretty strong community around it with numerous telegram & Facebook groups. This is an excellent way to bounce some trading ideas off fellow local traders. Of course, there is no need for you to reach out if you can find the required information in their support centre.

• In addition, using the “Manual trading / Trading bot” button in the top left-hand corner will switch the buying panel to a panel where you can create or select a trading bot to implement.
• Let’s get something out of the way right off the bat and say flat out that neither Binance nor OKX are beginner-friendly platforms.
• Existing trading bots to choose from can be sorted according to their Profit & Loss, level of drawdown, and run time, making OKX one of the better exchanges to use crypto bots.
• When we look at exchanges, there are several factors that we take into account to determine how safe they are for their traders.
• The largest criticism against DeFi is often the complex and unfamiliar nature of DeFi protocols and the hurdles that come along with self-custodial wallets.

You’ll find that there are 264,000 reviews, and most of them are positive. If you want to trade everywhere, you should definitely https://www.tokenexus.com/ download the OKEx app. It has a limit of 300 million shares and promises to buy back and burn shares every three months.