OKX, or previously OKex exchange, is one of the most affordable cryptocurrency exchanges, with high trading volume and cutting-edge trading tools. Additionally, a fantastic NFT market and wallet.
It got established since the year 2017. For the time being, US clients cannot access it. The sister exchange, OKCoin, is accessible to US residents. However, it doesn’t provide as many coins or services.
OKX is not just a crypto exchange, but it also aims to be a complete cryptocurrency ecosystem
1. Start your trading journey! Download the app
The app is available in both Google Play and Appstore.
2. Register an account
To get started, you need to sign-up for an account. You would need an email address/mobile number and a secure password. A one-time pin is sent to your registered email address to ensure that the account is active and you are the owner of it.
Password requirements:
1. 8-32 characters long
2. 1 lowercase character
3. 1 uppercase character
4. 1 number
5. 1 symbol
3. Verify your account
We greatly encourage you the complete the KYC (Know Your Customer) process to enjoy the full functionalities of the application. The verification option can be found on your profile from the homepage.
There are 3 levels of verification. Withdrawal limits may vary based on the KYC level.
Level 1 Personal Info Verification – Advisable for most beginners. Withdrawal limit of 200 BTC daily.
Level 2 Photo Verification – Withdrawal limit of 500 BTC daily.
When you have an unverified account, your permissions are only limited to Spot Trading and Derivatives trading. You cannot even Deposit and Withdraw at this point so a KYC is a must.
4. Enter your personal info
When you tap “Verify”, you need to complete two steps: declaring your country of nationality and uploading your government-issued identification.
Your level will then show LV1, and with your permission, you can make the following: Deposit, Withdraw, Spot Trading, Derivatives Trading and P2P Trading.
5. Deposit funds
To buy crypto using a credit/debit card or other payment methods, you can do that on the “Assets” page. Tap the Buy button and then select the deposit method, which is “Fiat deposit.”
6. Add your card
You can add your card during the process. Before anything else, make sure you have verified your identity by linking a mobile number and other verification that is deemed necessary.
7. View your assets
Open “Assets” under the “Overview” tab to view your current balance. Now you already have 11 USDT in your account, and you can use that to buy ETH, BTC etc., via the trading page
7. Transfer assets
If you want to start trading, make sure to transfer your assets from your Funds wallet to your trading wallet. You can easily do that by following the steps shown in the picture.
8. Buy Ethereum
Tap Trade and select the trading pair ETH/USDT since you own USDT in your trading wallet.
Select Buy and make sure you’re in the Market Order so it will buy the token at the current desired price. Tap the Confirm button to proceed. You can set up your Take Profit or Stop Loss parameters, but this is more advanced and optional.
9. Successfully bought ETH!
Head back to your Assets to see your total purchased ETH. I only bought 5.50 USD in the equivalent, so I can buy another ETH when it dips. Remember the golden rule! “Buy Low, Sell high.”
OKX Exchange has an extensive FAQ section that covers topics such as account, security and verification, trading, financing and growth, funding, web 3, OKC, buying/selling crypto, and others.
You can find answers to specific questions related to these topics, such as why a transaction may fail, how to speed up a transaction, and do you need to pay network fees when a transaction fails.
1. Is OKX a crypto wallet?
Yes, it’s non-custodial, and it supports a series of chains such as OKC, Ethereum, Polygon, Avalanche, and BSC, and it provides an interoperable and robust Web 3.0 wallet.
2. How much is OKX transfer fee?
OKx does not charge any deposit fees, but it does charge a withdrawal fee of 0.0002 BTC for bitcoin, 0.004 for ETH, and so on. You can check their site for more details.