What to Know If You Intend on Using OKEx?
OKEx is one of the platforms often used by people who are looking to buy digital assets. However, its functions and services are not only limited to the crypto investors. This exchange is also a suitable option for the crypto traders. It offers outstanding features and tools that help the crypto traders in trading through the exchange.
The OKEx exchange was established in 2017 and extended its operations to Malta in 2018. Since its establishment, it now takes pride in entertaining a large audience who trade through the platform.
It offers numerous other impressive features to the crypto investors and traders, some of which are mentioned here. Therefore, if you want to use this exchange then here are some details you should know.
Wide Array of Assets at OKEx
In this OKEx exchange you can get to know about major details of the platform, such as the digital assets it supports. This crypto exchange has a massive selection of digital currencies that are available for the users to buy or trade.
It also allows the users to opt for spot or derivatives trading, which signifies the capability and versatility of the exchange.
For the users, this exchange offers more than 140 digital tokens. Apart from these tokens, the OKEx exchange also supports around 400 BTC and USDT trading pairs for the investors and traders. The available crypto assets also include OKB, which is the native token of the platform.
OKEx is one of the cryptocurrency exchanges that supports leverage trading. This is a trading strategy in which the traders have a high chance of enjoying benefits. However, that high chance is accompanied by a high risk as well.
Trading with leverage requires the crypto traders to have proper information before they opt for it as it can easily result in financial loss. Leverage trading basically allows traders to borrow funds from the broker and open bigger positions than the amount they use from their own funds.
However, if the concept is not fully understood and a suitable exchange is not chosen, it can prove to be quite financially damaging for the crypto traders.
Therefore, traders looking to trade with leverage can opt for the OKEx exchange, which offers up to 100x leverage.
Impressive Customer Service
This brief OKEx exchange review also addresses the customer support offered by the platform. The customer support of an exchange is one of the major aspects you need to consider before you choose a platform.
If you choose a platform that has active customer support, you will be able to avoid unnecessary obstacles and problems while buying or trading crypto for the first time.
Therefore, if customer support is your concern then OKEx can be a suitable platform for you to use. This exchange has an impressive team of customer agents who are experts and have extensive capabilities. They are available around the clock to assist the users and address any concerns and questions.
If your concerns are addressed in a timely manner you can avoid many complications and have a quick and convenient experience of crypto trading and investing.
Fees of the Exchange
OKEx fees are as important as any other aspect mentioned above. You should always take a look at the fee structure of an exchange before you decide to use it for buying or trading digital assets.
Similarly, taking a look at the fee charged by the OKEx exchange is as important as anything else. This platform follows the market maker and taker model and is known to be lower than most of its competitors.
The details of the fee charged by OKEx are mentioned here:
- 0.0005 BTC withdrawal fee for Bitcoin
- 0.01 withdrawal fee for Ethereum
- 0.15 withdrawal for Ripple
- Market taker fee ranges from 0.09% to 0.15%
Mobile Trading Application
The OKEx exchange has a desktop version, which is a basic requirement of every crypto trader. However, this exchange makes sure the traders are facilitated no matter the circumstances. Therefore, it also offers a mobile trading application for crypto traders so they can trade while on the go.
It is a versatile application that is available for iOS and Android users and has a user-friendly interface. It has an intuitive interface that is quite similar to the desktop version.
This mobile application supported by OKEx is capable enough of allowing the users to manage their trades as well as capital. Therefore, you can buy and trade crypto through the application, whether you opt for spot or derivatives trading.
OKEx is one of the crypto exchanges in the market that can be used to buy or trade crypto assets. However, before you use this exchange, it is important that you get to know the features it offers to the users as mentioned above.