Is OKEx better than Binance? (2024)

Is OKEx better than Binance?

CoinMarketCap ranks Binance as the top spot-trading exchange with 400+ crypto assets available, while OKX holds the fourth position with 300+ coins. Both offer spot margin trading and various order types, including market, limit, OCO, and trailing stop, with isolated and cross-margin modes.

Is OKX the best exchange?

OKX is one of the safest platforms, as they are licensed and regulated. As mentioned, OKX is also one of the lowest fee exchanges in the industry, along with the low-cost leaders Binance and KuCoin. OKX fees are based on a maker/taker fee model depending on asset holdings and/or 30-day trading volume.

Is there something better than Binance?

Best Binance Alternative: Coinbase. Coinbase is a popular platform that aims to give accessibility to users across the globe. It was founded in 2012 and has expanded globally since. Furthermore, the platform offers one of the best crypto wallets in the market.

Is the OKX platform safe?

OKX employs a range of security protocols to safeguard its platform. This includes the use of SSL/TLS encryption for all user communications, two-factor authentication (2FA) for login and withdrawal processes, and cold storage solutions for a significant portion of its digital assets.

Is OKEx reliable?

Beyond its diverse trading mechanisms, OKEx is also noted for its security measures, user-friendly platform, and extensive market insights. These features collectively contribute to its reputation as a reliable exchange.

Can US citizens use OKX?

According to CoinMarketCap, OKX is the 18th largest cryptocurrency exchange in the world by volume. 1 The site claims over 20 million users in more than 100 countries. They don't take users from the United States due to regulatory and compliance concerns.

Can a US citizen use OKX exchange?

While OKX is accessible to users in many countries around the world, residents of the United States face certain limitations when it comes to using the platform. Due to regulatory concerns and compliance requirements, OKX does not currently offer its full range of services to US-based customers.

Is Binance 100% safe?

Bottom line: Is it safe to use Binance? Binance is generally considered one of the safest cryptocurrency exchanges available. It has implemented extensive security measures, including two-factor authentication (2FA) and offline storage facilities. That said, Binance has had a few security breaches in the past.

What is the best platform to trade crypto?

What is the US equivalent of Binance?

Coinbase is a U.S.-based exchange designed for beginners with a simple interface and limited transaction types. Binance has a steep learning curve, supports advanced users, and provides international traders with hundreds of currency trading options.

Is OKX a Chinese company?

OKX, Binance and HTX, formerly Huobi, were founded in China before a government crackdown pushed operations overseas. Crypto.com was founded in Hong Kong, but its headquarters is now in Singapore.

Has OKX been hacked before?

Even though the money has been located and is in the hands of specialists, the hacker's identity remains a mystery. OKX DEX, a decentralized cryptocurrency exchange, was hacked last night, losing $2.7 million. OKX DEX, a decentralized cryptocurrency exchange, was hacked last night, losing $2.7 million.

What happened with OKX?

OKX, a prominent crypto exchange renowned for its high trading volume, is discontinuing its services in India due to regulatory obstacles in the country. The exchange, headquartered in the Seychelles, has notified its Indian users to close their accounts and withdraw their funds before April 30.

What are the cons of OKX?

On the downside, the OKX app has limited payment options and lacks a fiat off-ramp, meaning users cannot swap for fiat and withdraw to a bank account. Additionally, the app's full-featured platform, while appealing to advanced traders, may be overwhelming for beginners.

Can I transfer money from OKX to my bank account?

The only way to withdraw crypto to fiat from OKX is by using its built-in P2P Marketplace. To do this, add a payment method to use on the P2P marketplace or connect your bank account, sell your crypto peer-to-peer to another cryptocurrency user, and withdraw the fiat amount to the connected e-wallet or bank account.

Can I trade on OKX without verification?

OKX account verification

While OKX doesn't require users to verify their accounts in order to deposit and trade crypto, withdrawal limits remain in effect until the verification process is completed.

Is OKX legal?

The exchanges were accused of not registering with the Financial Intelligence Unit-India (FIU-IND) and failing to adhere to the provisions outlined in the Prevention of Money Laundering Act (PMLA), 2002. “OKX Exchange is currently not available in India due to local laws and regulations.

Can I buy crypto in OKX without verification?

To buy or sell crypto from the ads available in OKX's P2P Trading marketplace, you need to verify your identity by completing identity verification. You'll also need to add at least one payment method to your account if you're selling crypto via one of the ads listed in the marketplace.

Do you use Binance or OKX?

Both Binance and OKX boast competitive fee structures in their derivatives markets, with maker fees starting at 0.02% on both platforms. However, Binance emerges slightly cheaper for takers, charging 0.04% compared to OKX's 0.05%. This might tip the scales for high-volume traders prioritizing minimal trading costs.

Who owns OKX exchange?

OKX is owned by Ok Group, which also owns crypto exchange Okcoin. It is not available to American users. The company's CEO is Jay Hao and CMO is Haider Rafique. OKX was first time located in Beijing, China, but it is now banned by the Chinese regulators.

What is the KYC level on OKX?

The basic KYC level on OKX requires users to provide their name, email address, and phone number, as well as a valid government-issued ID for identity verification.

Is Binance in legal trouble?

The U.S., which separately accuses Binance and Zhao of violating the U.S. Bank Secrecy Act and sanctions on Iran, ordered Binance to pay $4.3 billion in fines and forfeiture. Zhao agreed to pay a $50 million fine.

Is Binance legal in the US?

In 2019, Binance was banned in the United States on regulatory grounds. In response, Binance and other investors opened Binance.US, a separate exchange designed to comply with all applicable US federal laws, which nonetheless is banned in six states: Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.

Can I leave my crypto on Binance?

Binance Wallet (Trust Wallet) is safe to store cryptocurrencies. Do not leave your funds on Binance Exchange. Download Binance Wallet which is called Trust Wallet and store your coins in this wallet. With Trust Wallet you can buy and sell cryptocurrencies which are available on Binance Dex.

What crypto will boom in 2024?

Dogecoin (DOGE) is known for its strong community backing in the meme coin market, placing it among one of the top cryptos to buy in 2024. It gained attention during the 2021 bull market, especially after Elon Musk's famous tweets, reaching a high of $0.58, a massive increase of over 35,641.75%.