The exchange launched in the second quarter of 2017, according to their Twitter profile creation. So far, the exchange platform evolve a lot from a web-based interface to a complete cross-platform integrated eco-system with lots of functionality and features. According to Coinmarketcap.com, currently, the OKEx is ranked on #20 with the exchange score of 6.9 & On coingecko.com ranked on #26 with the trust score of No. 08 and over $5 Billion Trading volume of passed 24 hours. In this writing, we will learn how a new user can get started with the OKEX cryptocurrency exchange.
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Follow the Straight forward Steps to Get started with OKEx Crypto Exchange
Go to the Create Account and Quickly Register your OKEx Account. OKEx offers you to register with multiple options whichever you like to start with like telegram or google and phone number or email. You can register what best suits you but we prefer registering with google or telegram is the least secure instead go with email or phone number registration.
As it’s your financial account multiple security factors will attach with your exchange so don’t hesitate to use the primary details for long-term holdings. Make a strong password and keep it in a secure offline place for personal remembrance.
OKEx Account Security Factors
OKEx provides various options including Google 2Fa, email, Mobile OTP, Anti-phishing email code & fund password which collectively provides sufficient protection to your account from any possible hacking attacks.
To enable security settings just go under the profile menu and hit the security tab or option and enable them one by one to enhance your long-term account security and hold or trade peacefully. Although OKEx has a risk detector system and all the possible methods to stop any fraudulent or hacking activity happening on the website despite that you should be aware of centralized exchanges history of hacks so keeping in mind don’t keep your major holding on centralized exchanges.
OKEx KYC Verification Levels
OKEx has the most flexible know your customer verification criteria just by providing your basic personal details such as registering your mobile number and submitting a national ID card No you can get a 200 BTC 24 withdraw limit at level 1 verification completes.
To complete your Level 2 Verification just scan your National ID and prove your facial verification by standard selfie verification can get 500 BTC of withdrawing Limit of Level 2 Verification completes.
The third level of verification is not as different from the second level so as privileges increase with 3rd level you can complete that by providing video verifications as your future requirements evolve.
OKEx Trading Instruments
Spot Market
On the OKEx currently, 290 coins or tokens are listed as active trading with the reported CMC volume of $5 billion which has a good scope of trading.
Futures Market
As OKEx is a relatively low-ranked exchange due to their functionality and technological lacking they haven’t implemented a mature futures platform that’s why you will currently found it as a less preferred future or any derivative trading on OKEx exchange.
Perpetual Trading
As OKEx is a relatively low-ranked exchange due to their functionality and technological lacking they haven’t implemented a mature perpetual trading platform that’s why you will currently found it as a less preferred perpetual or any derivative trading on OKEx exchange.
Options Trading
As OKEx is a relatively low-ranked exchange due to their functionality and technological lacking they haven’t implemented a mature Options trading platform that’s why you will currently found it as a less preferred Option or any derivative trading on the OKEx exchange.
Margin Trading
OKEx has various margin pairs listed to trade with up to 10x safer leverage options. You can continue with basic and advanced UI(user interface) of course the basic is for beginners and the advance is for Experienced users. Keep in mind any type of leverage trading comes with greater risk and reward so using it with cautious understanding can be in huge consistent gains but indiscipline or over greed can liquidate you badly with over to all portfolio loss in case of emotional nervousness.
Buy/Sell P2P Trading
OKEx offers its users to buy or enter in crypto through their native currencies such as USD or any supporting fiat currencies via Debit, Credit Card as well as through local bank transfer facilities. Learn more about how to trade on the OKEx p2p trading platform.
OKEx Financial Products
Earn/Staking/Lending
OKEx offers you not just to hold crypto but to stack it in different savings from little to high-risk pools to generate daily to yearly yields depending upon the different varying APY percentages.
Loan/Borrowing
You can put your crypto on the preferred timeline with a specified percentage of interest and get liquid money to fulfill your temporary requirement along with not missing the scope of your asset price appreciation in case of selling at urgent needs but your proper due diligence is required in this case.
Jumpstart/ICO’s
Like Binance and other exchanges, OKEx is also available the new token or coin listing sale feature for their users to participate early in any project to get higher chances of earning great gains when it is finally marketized and listed on publicly open trading platforms.
Understanding OKEx Mobile Application User Interface
OKEx offers you three types of UI versions in the mobile app such as Lite, PRO, and Defi.
Lite Version: Beginners can identity the market and user interface easily so that they can interact with the market efficiently.
PRO version: It is the professional version known as a pro which provides full-fledged functionality of the OKEx mobile interface.
Defi version: This is the universe of crypto decentralized crypto products in which you can interact with external blockchain products and more.
Closing Thoughts
OKEx is an ever-growing and evolving cryptocurrency exchange with a variety of features and functions available by flexible entry-level utilize them and get benefit from it by browsing and research which one greatly help you out in any required matter. We will further discover the platform services in deep study and help you understand the platform dynamics in upcoming posts.
