Welcome to this video, where we are going to take a look at the Okex platform, with a full analysis of this exchange.
With the platform token being one of the most popular token exchanges, and the listing of many cryptocurrencies not found on the major exchanges, Okex has become increasingly popular around the world, reaching many days in the top 3 exchanges with the highest volume.
Like many exchanges, it has a wide variety of options within its platform, but we will focus on those aspects that almost everyone uses and are more relevant. Such as the commissions it has, the usability of the platform, its security and the ease of depositing and withdrawing our funds.
What is Okex?
So let’s get started. Okex embraces blockchain to build the next generation financial ecosystem. With an effort to remove financial barriers, evolve the global economy and change the world for the better. Always trying to improve the user experience to make trading and investing in cryptocurrencies available to everyone. In addition to making its own blockchain, okexchain, like binance created your own blockchain, although it is still under development and does not have many features at the moment.
If you do not have an account with Okex and want to use the platform, do not forget to use the link below in the description to create your account and get rewards for using it.
Okex commissions are variable depending on the cryptocurrency. We find three categories, class a b and c. But they range from 0.10% maximum to as low as 0.06% at level 1. And they can be lower, as you trade larger amounts as you can see in the different levels. These are actually the lowest commissions I’ve seen on any exchange with level 1, where the standard exchange is at 0.10%, here you have cryptocurrencies that you get to pay as low as 0.06%. For this reason, the commissions in okex, are among the lowest in the market in the purchase and sale of cryptocurrencies.
Security is another very relevant factor when you have your money on the platform. This platform has a 2/3 on cybersecurity accredited by certified, which is something positive even though it is not perfect. The team and workers are public, so it is another aspect to be able to trust the platform. In terms of regulation, Okex is regulated by coinfirm and AMLT. Also, when creating an account you will see that you are required to use two-factor authentication, which adds another layer of security to your account to prevent theft or hacking and for withdrawals you will also have to enable two-factor authentication.
Deposits and Withdrawals
Depositing and withdrawing funds from your account is also another important factor to look at. In Okex, to deposit, you must go to buy/sell. Once there, select the currency you want to use to pay, and the cryptocurrency you want to buy. In my case, using euros, you will be able to buy 11 cryptocurrencies, among which there are the most known ones such as bitcoin, ethereum or usdt if you want something more stable. Below, you will see the payment methods. I was really surprised by the amount of payment methods included in okex, with bank transfer, credit card or even Apple pay. Usually the payment methods in Exchange are limited, but in the case of okex you will be able to use different methods. At the top, you will see a reward that you are going to receive for making your first deposit of $100 or $84, where you will receive $10 in bitcoin. Really a great offer to get an extra reward for using okex. Once you have selected your currency, the cryptocurrency you want to buy and the payment method, simply follow the steps and you can already have funds in okex to use.
Another way you can use to save on commissions if they are high, is to buy cryptocurrencies in another Exchange, in my case I use Binance, which is very easy to deposit funds, and withdraw them from binance to deposit them in your Okex wallet. So you can also have the cryptocurrencies in Okex to buy and sell the one you want. To do this, simply go to the deposit of the cryptocurrency you want to move from binance to Okex and copy the address. Keep in mind the network you use, the best option is to use the TRC-20 tron network in case of USDT because of the low commission it has.
To withdraw funds, Okex works in the same way as all other platforms, and with no extra fees. Go to the cryptocurrency you want and click withdraw. Here you can select the network you prefer depending on the cryptocurrency and withdraw to your metmask wallet or to another platform.
Is the platform worth it?
As we have seen, the platform has very low commissions, medium-high security and reliability, and a fairly intuitive use for its users. Still, I think there is a better alternative if you are looking for the best Exchange to buy and sell cryptocurrencies. Although before we look at the best alternative, let’s see when it is worth using okex. On coingecko, the platform has received a 9 out of 10 trust score.
When to use Okex?
From my point of view, Okex is very interesting to use when there are cryptocurrencies listed that are not found on other major exchanges. In the world of cryptocurrencies, it is common for projects to start appearing in this type of exchange before going to the top 3. So in case you want to buy a cryptocurrency that is only found in Okex or in a few exchanges and not in the main ones. In addition to see new cryptocurrencies that may have potential before appearing in the most used exchange, Binance.
Remember that just below you will be able to find a link to create an account in Okex and get rewards for using it.
The best alternative if you are looking for the best cryptocurrency exchange is Binance. With commissions of 0.10%, in case you have their cryptocurrency in your account (Binance coin), they are reduced to 0.075% and a great amount of cryptocurrencies that you can’t find in other exchanges.
Plus a really easy deposit and withdrawal using your credit card for instant balance. And a great variety of options to earn money with your cryptocurrencies by staking with them. The number 1 Exchange, with more customers and volume of cryptocurrencies. If you do not have an account with Binance, in the description you will also find a link to create your account.