OKX is one of the popular cryptocurrency exchanges that offers spot and futures trading. It is among the top five largest exchanges by daily cryptocurrency trading volume.
Official website: https://www.okx.com/
Main parameters of the exchange
| Year of foundation | 2017 |
| Country of origin | China |
| Number of exchange users | More than 50 million. |
| Founder of the exchange | Mingxing Xu (Star Xu) |
| Exchange reserves | 21.82 billion$ |
| Volumes for 24 hours | 8.42 billion$ |
| Number of coins added | 307 |
| Exchange commission | 0% – 0.1% |
| Exchange token | $OKB |
| Maximum leverage | 125x |
| Exchange application | Eat |
A Brief History of OKX
OKX, formerly known as OKEx, is a cryptocurrency exchange and derivatives platform based in the Seychelles. The exchange was founded by Mingxing Xu (or Old Xu) in 2017. OKX is owned by OK Group, which also owns the Okcoin cryptocurrency exchange.
OKX was originally headquartered in Beijing, China. However, OKX is currently completely banned from operating by Chinese regulators. Therefore, the company has no plans to open an office or team in the region. According to Caixin, although OKX has officially announced the closure of its mainland China office, it still has a significant number of employees in the region engaged in research and development. In particular, engineers continue to work for OKX through third-party outsourcing companies.
In April 2018, the company announced its entry into the Maltese market, taking into account the state’s efforts to create a solid legal framework for working with blockchain and digital assets.
In May 2018, OKX became the leader among cryptocurrency exchanges in terms of registered trade volume. However, doubts have arisen about the reliability of some of the trading volume data.
In June 2018, the platform became one of the leading exchanges to launch and offer a white-label cryptocurrency exchange service. This principle means that candidates must have significant experience in the industry and at least $2.5 million in their accounts.
In November 2019, Hong Kong’s Securities and Futures Commission (SFC) released new rules governing digital asset trading. According to Reuters, OKX expressed its opinion that most exchanges will not follow the new rules, but noted that the changes are good for the industry.
According to information obtained from Reuters, the OKX trading platform set a new record for trading volume in February 2021. Compared to the previous month, this figure increased by 26% to reach $188 billion.
In June 2021, Baidu, Weibo and other Chinese internet platforms blocked keywords such as “OKEx”, “Binance” and “Huobi”.
In early 2022, the exchange underwent a major branding update, changing its name from OKEx to OKX.
In March 2022, OKX did not support the initiative to ban cryptocurrency trading in Russia. At the same time, the Manchester City FC football team announced cooperation with OKX as an official cryptocurrency partner. In May, OKX signed a sponsorship agreement with McLaren, becoming the main partner.
Pros and Cons of OKX
| Pros | Cons |
|---|---|
| Low trading fees compared to other exchanges | Mandatory Identity Verification (KYC) |
| Confirmed Exchange Reserves | P2P service in rubles is not available |
| Distinctive, convenient and pleasant exchange interface |
Promo code upon registration OKX
We have entered into a partnership with the OKX exchange and received an increased discount on the exchange commission, you can get it by entering the promo code when creating a new account in the “Referral code” tab
- Promo code: 49991855
Using it you will receive a secret prize worth up to $10,000
This will subsequently help you save tens and hundreds of commission dollars!
