OKX serves a dual purpose by catering to both experienced traders and newcomers looking to develop their trading skills. It offers advanced trading features tailored for seasoned traders, alongside accessible options such as copy trading and a well-funded demo account for beginners. If you are a beginner, take advantage of the OKX cashback offer in this article.
Introduction to OKX Exchange
Overview of OKX
Established in 2017, OKX has grown into one of the top cryptocurrency companies globally, offering both exchange and Web3 services. Having its head offices in Hong Kong, Singapore, the UAE, Silicon Valley, and the Bahamas, OKX provides its services to a varied international market.
OKX is the world’s second-biggest cryptocurrency derivatives trading exchange in volume across cryptocurrency markets. What makes it unique is that its highly developed trading tools were created to support advanced traders: futures trading, trading bots, and margin trading. Okx offers all its new and active traders a trial or demo account with a view to familiarizing them with its platform.
The full suite of trading facilities covers both the spot and derivatives markets alike. Moreover, OKX expands its offerings to include staking opportunities, a copy trading portal, and quite an impressive suite of DeFi crypto wallet tools, from swaps to an NFT marketplace.
CoinMarketCap presently lists OKX as the second global cryptocurrency exchange by volume and liquidity. Catering to over 50 million users worldwide, OKX stands out in front when it comes to transparency, releasing OKX’s Proof of Reserve statements every month that eventually prove trust in the crypto space.
In the crypto space, OKX boasted about being the most speedy and reliable application for crypto trading. Exactly in this regard, professional traders were mostly lured to it by the best liquidity and diversified trading products. From spot trading and futures contracts to DeFi tools, OKX wants to be the go-to platform for cryptocurrency traders.
Key Features of OKX
User Interface and Experience
OKX is one of the largest global cryptocurrency exchanges that provides an easily executable and user-friendly interface to global traders. It is an expert in integrating cutting-edge features and professional trading facilities into this platform for its users in order to confidently sail through the stormy landscape of digital assets.
The OKX dashboard is clean and coherent, which can be applied both to beginners and professional traders. Users will have an accessible interface through which they can access market data, trading execution tools, and account management options. Moreover, OKX cares a lot about the safety measures against digital assets for its users.
Supported Cryptocurrencies and Trading Pairs
The exchange offers an extensive selection, featuring over 350 different cryptocurrencies and more than 500 trading pairs. Among the prominent tokens available are Bitcoin (BTC), Ethereum (ETH), OKB, Aave (AAVE), Solana (SOL), Polygon (MATIC), Ripple (XRP), Dogecoin (DOGE), Shiba Inu (SHIB), and Polkadot (DOT).
What Makes OKX a Good Choice
OKX is an all-rounded platform for both the crypto beginner and the advanced trader. Whether you are just starting or have years of trading experience, OKX has implemented a raft of tools and features to satisfy your need for one.
One of the unique selling points OKX has to offer is its wide variety of free trading bots. Of course, these facilitate automated trading strategies for dollar-cost averaging or futures trading in high-beta cryptocurrencies. Automation in this regard can help in smoothing out trading activities and bringing in a lot more profitability.
OKX offers volume traders lower fees and higher liquidity on BTC and ETH trading pairs, immediately becoming very attractive to large-volume traders. In addition, OKX has special bonuses and referral codes that give unique prizes and freebies to users, maximizing added value to their trading experience.
While funding an account on OKX may be pricier compared to platforms with more straightforward bank-account linkage, it is usually at its most affordable through the transfer of crypto from another wallet. This generally works around the higher costs of direct funding.
OKX is more suitable for professional traders; the advanced features and often complicated funding logistics definitely point to it. However, it also hosts very beginner-friendly features, such as copy trading and excellent funding in demo accounts, that make it useful for new traders. With these tools, a new trader can learn and try out trading strategies without putting real money at risk.
Fee Calculation Mechanism of OKX
Types of Fees on OKX
Trading Fees (Maker and Taker fees)
OKX charges a very competitive fee structure, which has been based on a tiered system linked to your trading volume over the last 30 days. Thus, at the topmost level of tiers, OKX would still be competitively priced against other players.
The maximum fees that OKX charges are 0.15% for maker orders and 0.2% for taker orders—already pretty low prices compared to the competition. Depending on the trading volume, these can drop even further to as low as a 0.02% taker fee or even negative up to -0.01% for makers in the highest tier.
Withdrawal and Deposit fees
The other predominant advantage associated with the exchange platform is its low-cost fee schedule. Most of the deposits are free, hence giving users the simplest ways through which to fund their accounts without the possibility of extra costs.
Compared to other exchanges, OKX charges a very low fee – around 0.0004 BTC for Bitcoin and about 0.003 ETH for Ethereum – to withdraw. With these competitive rates, it will become one of the most interesting choices among the available options for the efficient management of cryptocurrency transactions.
How Fees Are Calculated
Explanation of the Maker-taker Model
In most cases, makers are high-frequency trading firms that implement unique strategies in an effort to capture revenues from being on the other side of the trade. In other words, these firms try to capture payments as a result of their trading. On the other side, takers are normally large investment firms looking to transact a huge volume of stocks or hedge funds that make short bets on price changes.
The maker-taker model is somewhat unlike the traditional “customer priority” infrastructure. In this case, customer accounts received order precedence, and there were no fees for exchange transactions. Under the old model, transactions of the market-makers were assessed fees, and income was achieved by the exchanges through the payment for order flow. The money is then transferred to the brokerage firms as an incentive for order flow on that particular exchange.
Hence, it shifts the maker-taker model in trading dynamics, in which makers are incentivized and takers are charged based on trading activities.
Factors Affecting Fee Calculations
Spot trades are up to 0.06 percent, although those who hit high volumes or their equivalent in OKB—the chain’s native cryptocurrency—will have reduced rates.
Ways to Reduce Fees on OKX
OKX Affiliate Program
OKX considers both new and professional traders and provides a diversified array of trading products designed for these users. These include, but are not limited to, spot trading, futures trading, options trading, and such. One of the unique features is margin trading which allows professional traders to leverage their positions by up to 100x leverage to enlarge potential gains.
The OKX Affiliate Program allows its users to earn passive income. It offers a tiered commission structure in which the more referrals an individual has, the more their commission rates are increased. One can gain from up to 50% commission for all trading fees that referrals bring in. Over and above that, this very platform avails a myriad of marketing tools, including banners, links, and landing pages, helping any affiliate do their promotions.
Moreover, participants in the OKX affiliate program and their invitees can receive exclusive perks, such as the ability to unlock mystery boxes with a value of up to $10,000, participation in trading competitions for as high as $2,000,000, or customizing campaigns according to the needs of their community.
Using OKB for Fee Discounts
OKB is the native cryptocurrency of the OKX ecosystem and confers a lot of benefits to its holders. Apart from reducing trading fees on the platform, OKB holders are entitled to voting rights on the platform. They also get early, privileged access to special projects listed on OKX’s Jumpstart platform.
There are many tiers. The higher the tiers, the lower the OKX fee you have to pay. The more OKB you hold, the more transaction fees you will receive.
Applying OKX Cashback Code
Joining OKX using our exclusive cashback code offers a strategic advantage for maximizing rewards and referral bonuses. By leveraging this opportunity, you can unlock enticing benefits such as sign-up bonuses, mystery boxes, and rebates on trading fees.
How to get OKX Cashback Code
Step 1: Click link https://www.okx.com/join/coincu or use code: COINCU
Step 2: Select Country or region of residence
Step 3: Enter your email to create an account. In the Referral Code section, ensure that it matches “coincu”. If it’s incorrect, re-enter it.
Step 4: Enter the code sent to your Email
Step 5: Verify your Phone Number
Step 6: Create a strong password to protect your assets. Also, please note that Royal Trading Cashback will never ask you for this information.
Step 7: Complete the KYC process following OKX’s instructions.
Step 8: Once all steps are completed, submit the FORM and contact the Telegram Group for verification.
Conclusion
The OKX cashback code is a great incentive for you to join the exchange at the most economical cost possible. Enjoy your experiences at OKX with the code provided by Coincu.
FAQs
Does the OKX cashback code expire?
We always update the latest codes for you, so rest assured that you will always receive OKX cashback offers.
Can I use this OKX cashback code twice?
No, the OKX cashback code is limited to one use per main account.
Are transactions using OKB and OKX cashback codes cumulative?
Transactions using OKB are the exchange’s transaction fee reduction mechanism, while the OKX cashback code is a promotion applicable to users. While the code is valid, you will still receive refunds and reduced transaction fees as usual.
