Out of all of the cryptocurrency exchanges on the market, there are explicit features of OKX that make it stand other than its rivals and have led to it being positioned as a high trade in choose classes in our Prime Exchanges article, whereas additionally being firmly cemented as a high 10 trade in accordance with CoinGecko.
The OKX cellular app is a type of features and one of many the reason why OKX is utlized by hundreds of thousands of customers worldwide, receiving overwhelmingly constructive evaluations throughout app shops and evaluation websites alike.
OKX shouldn’t be solely designed fantastically, however the app comes outfitted with a user-friendly interface and superior options. The OKX app has gained immense recognition amongst merchants, however, is it actually value investing your money and time in? On this complete OKX app evaluation, we are going to uncover the professionals and cons of the cellular app and aid you make an knowledgeable resolution. From the safety measures to the buying and selling charges, we are going to analyze each facet of this standard buying and selling app to provide you a transparent understanding of what it has to supply.
So, whether or not you're a seasoned dealer or a whole beginner, learn on to find every thing you’ll want to know concerning the OKX app and whether or not it's the proper selection for you.
As this OKX app evaluation is just overlaying the cellular app, if you’re contemplating utilizing OKX, you could wish to take a look at our detailed OKX evaluation, the place we do a deep dive into all of the options, features, charges and extra.
As well as, we even have articles that dive into different features of the OKX Alternate:
- OKX Buying and selling Bots: Automated Buying and selling on OKX
- OKX Earn: Earn curiosity whereas Hodling at OKX
- OKX Lending: Crypto Lending Made Straightforward!
- OKX Pockets: The Portal to Web3
- OKX Safety: Is OKX Secure?
- Learn how to Signal-Up on OKX
- OKX NFT Market
Word: Customers positioned within the US and UK aren’t supported.
OKX App: Professionals
Relating to cryptocurrency buying and selling, OKX App has rather a lot to supply. Listed here are a number of the professionals of utilizing the OKX App:
- Stunning Design and Format
Okay I do know, the aesthetics of a crypto buying and selling app shouldn’t be the very first thing on the record, however I’m a sucker for fairly issues. I imply, come on, simply have a look at the design. Severe kudos to the design staff and artists behind the platform, the app is almost as good because the Exodus pockets:
Whereas lots of you studying this will not care a lot for “style points,” I do know I might slightly use an app filled with eye sweet over one thing that appears like a Nintendo emulator straight out of the yr 1998.
- Person-friendly interface
One of many main benefits of the OKX app is its user-friendly interface. The app is well-designed by way of drop-down menus and icon placement, making it intuitive and straightforward to navigate. Whether or not you're a newbie or an skilled dealer, you’ll discover it pretty easy to make use of the OKX app and discover your means round. The app is obtainable for each iOS and Android gadgets, and you may obtain it from the App Retailer or Google Play.
- Superior buying and selling options
The OKX app comes with a spread of superior buying and selling options that make it potential for merchants to handle their portfolios. The app lets you set stop-loss orders, restrict orders, and take-profit orders. You can even use the app to commerce on margin and to entry a spread of buying and selling instruments, indicators, and crypto-centric merchandise other than buying and selling, a few of which will probably be coated in a while.
The vary of superior buying and selling options may also be thought of a con for brand new customers, within the curiosity of full transparency, we are going to elaborate on this within the subsequent Cons part.
- Wide selection of cryptocurrencies
OKX App helps a variety of cryptocurrencies (over 200 cryptocurrencies and 400 buying and selling pairs), together with Bitcoin, Ethereum, Litecoin, and stablecoins. This makes it straightforward for merchants to diversify their portfolios and benefit from completely different market situations. The app additionally helps an enormous vary of fiat currencies (50+), together with USD, EUR, and GBP and extra.
- Low charges
OKX is among the many lowest-fee exchanges within the house, providing related rock-bottom charges competing with the likes of Binance and KuCoin.
- Web3 Pockets
Users can entry and discover the Web3 universe with the assistance of the decentralized multi-chain pockets often called OKX Internet Pockets. It’s a digital pockets that provides customers entry to over 1,000 DApp protocols and options, together with multi-chain and cross-chain DEX, yield farming, NFT market, and DApp discovery, in addition to the power to retailer any digital belongings which might be exchanged by the trade.
The OKX Web3 pockets is kind of an innovation of its personal, which is why we now have a devoted OKX Internet Pockets Assessment the place we discover it in depth.
- KYC Safety
It's essential to minimise the chance of fraud on a cryptocurrency trade. Subsequently, all customers might want to endure KYC and identification verification to achieve larger limits and sure features.
You’ll find extra details about the OKX KYC ranges and limits from their help web site.
Cons of the OKX App
Whereas OKX App has many benefits, there are additionally some drawbacks.
Listed here are a number of the cons of utilizing the OKX app:
- Restricted fee choices
That is in all probability the biggest downside to OKX is the truth that there is no such thing as a fiat offramp, that means no swapping for fiat and withdrawing to a checking account. If you’re needing an trade with full banking help, I might advocate Binance, Kraken, Coinbase, or Bitget.
Although the fiat help for getting crypto is spectacular, a draw back is that each one crypto purchases are made with a financial institution card, or by third-party intermediaries, a few of which cost higher-than-average charges. Usually, with regards to exchanges, getting your cash onto an trade is least expensive when the trade can facilitate direct financial institution deposits or connections to financial institution accounts. OKX lacks this characteristic which is why many crypto customers will nonetheless use an trade like Crypto.com, Kraken, or Binance to deposit funds, then merely switch crypto to OKX to benefit from the trade.
- Full-featured platform
As talked about within the Professionals part, the OKX app has an enormous number of superior crypto buying and selling merchandise and options out there, which could be a double-edged sword.
Whereas the OKX app is user-friendly and freshmen can shortly get the dangle of it, the truth that OKX is appropriate for superior merchants in addition to options an enormous vary of crypto merchandise signifies that there are many features, options, and full areas of the app that new merchants could discover overwhelming, making it not essentially the most beginner-friendly crypto buying and selling app.
The app can really feel fairly complicated for brand new customers with all kinds of options and settings that many people won’t ever use. If you’re on the lookout for a easy no-frills crypto app, I might advocate SwissBorg or Kraken as being essentially the most beginner-friendly.
Luckily although, to try to fight this, customers can simply change between Lite, Web3, and Professional modes to assist make it simpler for brand new customers not needing all of the bells and whistles.
OKX App Person Expertise
The consumer expertise with the OKX app is usually constructive among the many neighborhood in accordance with evaluations and Twitter/Reddit statements. After utilizing the app myself, I discovered the app to be well-designed and straightforward to navigate. Whereas I don’t usually use cellular apps for frequent buying and selling as a result of small display screen and lack of extra displays and analysis instruments, (I’m going into extra element on why merchants don’t use cellular apps in our Coinbase Assessment), the app does have an appropriate vary of buying and selling instruments and options that make it simpler for merchants to handle their portfolios on the go.
I discovered the app served its function effectively of with the ability to regulate your portfolio, handle open positions, and for the odd time you do want to put a commerce whereas away from a pc. The app additionally offers customers the power to:
- Commerce Spot, Margin, and Derivatives
- Entry Lite and Professional variations on the identical app
- Purchase crypto with card
- Entry the P2P trade
- Entry Earn to learn from DeFi and earn passive earnings in your crypto.
- Make the most of OKX Buying and selling Bots
- Get crypto insights and alerts on the go
- Use the evaluation characteristic to view the revenue and loss (PnL) efficiency pattern on your portfolio over a each day, month-to-month, or self-selected interval. Customers can acquire insights to assist handle funding portfolios within the areas of finance, information analytics, pool mining, and cryptocurrency wallets.
Nevertheless, I ought to point out that some customers have reported points with the app's stability, and commerce execution, significantly throughout occasions of excessive buying and selling quantity. These complaints aren’t frequent and should have had one thing to do with the dealer’s community connection versus the app itself, and I’ve by no means personally encountered any connectivity points.
I’ve had points with frequent redesigns of the apps the place sure options and features have moved or disappeared. One in every of my favorite options was that there was once Satoshi giveaways for each day logins and a easy betting characteristic the place you’d guess Satoshis whether or not you thought the value of BTC would go up or down within the subsequent 24 hours. These options disappeared with out warning, which was a bummer, so I might additionally warn about not turning into too hooked up to some features of the app as they could randomly disappear at some point 😡
Safety Measures of the OKX App
OKX takes safety significantly, the app has a spread of safety measures in place to guard customers' funds. The app makes use of two-factor authentication (2FA) and passwords to safe consumer accounts, takes benefit of cellular biometrics safety, and likewise has a spread of different security measures, corresponding to SSL encryption and chilly storage for consumer funds.
The OKX strategy to safety and chilly storage options is definitely probably the most sturdy I’ve seen within the business and I’ve lengthy been impressed by the safety measures and protocols in place. I gained’t go into element right here as we cowl it in our devoted OKX evaluation. You can even check out their multi-pronged strategy to safety on their Safety Web page.
Comparability with Different Buying and selling Apps
In comparison with different cryptocurrency buying and selling apps, the OKX app has some benefits and drawbacks. When in comparison with Coinbase, the OKX app has a far wider vary of cryptocurrencies and extra superior buying and selling options. Nevertheless, Coinbase has higher buyer help, advantages from a stronger repute, is regulated, and is extra newbie pleasant.
A word on Coinbase although, it’s nice for freshmen, however I’ve discovered it fairly frequent for a lot of merchants to “outgrow” Coinbase and transfer onto an trade corresponding to OKX, Bitget, or Binance to entry the decrease charges and extra buying and selling performance, in addition to a greater number of crypto merchandise like staking, earn, crypto borrowing, lending, and extra.
When in comparison with Binance, the OKX app has higher safety measures and entry to the Web3 Pockets, however Binance has a wider vary of fee choices and higher fiat on and off-ramp help. You’ll be able to study extra about Binance and why it’s crowed as “The King of Exchanges” in our Binance evaluation.
The comparability to SwissBorg is a straightforward one, as these two are reduce from a really completely different fabric. SwissBorg is perhaps the best to make use of and probably the most distinctive crypto apps round. SwissBorg shouldn’t be appropriate for buying and selling with technical evaluation, as there is no such thing as a charting performance, however the platform aggregates low-fee swaps from many main exchanges to supply customers with easy one-click buying and selling. SwissBorg can be extra of a crypto wealth administration platform versus a buying and selling trade like OKX. You’ll be able to study extra about it in our SwissBorg evaluation.
OKX App Buyer Help
OKX app buyer help is fairly good, not nice, not dangerous. Some customers report gradual response occasions, although I can not say I discovered the help occasions too horrible. I’ve used OKX previously and located their help to be sufficient, and for the aim of this evaluation, I examined their help response occasions over a span of three days, messaging in at completely different occasions of the day with a mixture of easy and sophisticated solutions.
I discovered I obtained responses inside a minute or two most often, with a number of the extra complicated questions taking up ten minutes so they may observe down the reply. The standard of the help wasn’t nice because it was largely simply generic responses and hyperlinks to the self-help part. The help wasn’t “wow-worthy” like with exchanges corresponding to Kraken, but when I have been grading it, I’d give it a stable B minus.
Learn how to Get Began With the OKX App
Getting began with the OKX app is simple. Merely obtain the app from the App Retailer or Google Play, and create an account. OKX require KYC for all buying and selling ranges, but when you have already got an OKX account for the online platform, it is possible for you to to log in with these particulars and never have to undergo KYC once more.
When you've achieved that, you can begin shopping for and promoting cryptocurrencies on the app. Listed here are these steps damaged down:
- Very first thing you will have to do is create an account. This may be achieved along with your cellphone quantity, e mail, Telegram or Google account.
2. After getting an account, on the principle web page it is possible for you to to purchase, promote, or convert your crypto in addition to entry the areas the place you possibly can earn, test the markets, entry the pockets, and discover rewards and academic sources.
3. The OKX app helps shopping for crypto with a card instantly out of your cellular. All you’ll want to do is click on the “buy” button which is accessible on a number of screens, choose the crypto to purchase and enter your card particulars to finish the acquisition. The funds will probably be mechanically deposited into your account.
Changing crypto is the best technique to swap belongings after you have your account funded. Merely hit the “Convert” button as you possibly can see in Step 2 and choose the belongings you wish to trade.
If you need the power to set restrict orders, entry derivatives, and spot commerce, you possibly can hit the “Trade” icon from Step 2 and that may take you to the order interface:
Apart from shopping for and promoting, additionally, you will discover choices to navigate to financial savings, OKX Earn, mortgage, jumpstart, study, ship, and get technical help.
OKX App Charges and Expenses
As talked about earlier, OKX is without doubt one of the decrease charge exchanges on the market, with the best charges merchants needing to pay being 0.1% per commerce. These charges will be made even decrease relying on tier degree which is set by 30-day buying and selling quantity and asset/OKX token holdings. Here’s a have a look at the OKX charge construction to provide you an summary of buying and selling charges:
OKX App Assessment: Ultimate Verdict
Regularly Requested Questions
Can US Residents use the OKX App?
OKX shouldn’t be out there to residents in the USA or customers positioned in Singapore, Cuba, Iran, North Korea, Crimea, Malaysia, Syria, Canada, the UK (concerning derivatives-related companies for retail customers), Bangladesh, Bolivia, Malta, or Hong Kong.
The place is OKX Positioned?
OKX is registered in Seychelles as a cryptocurrency trade.
What Merchandise Are Out there on OKX App?
With OKX, you possibly can:
- Commerce tons of of tokens and buying and selling pairs on spot, margin and derivatives markets.
- Handle your DeFi portfolio by connecting your Web3 pockets to arrange all of your decentralized belongings.
- Create, purchase and promote NFTs on the NFT Market.
- Discover high DeFi and blockchain gaming DApps.
- Connect with DeFi with the Web3 pockets or browser extension.
- Earn crypto in mining swimming pools, take out crypto collateralized loans, and entry OKX Earn.
- Connect with the highly effective TradingView Platform and commerce crypto instantly with a professional-grade platform.
Is OKX Secure?
OKX has fallen underneath some minor scrutiny previously, corresponding to accusations of inflating its buying and selling quantity and a few different points. Nevertheless, OKX offers quite a lot of safety measures to guard consumer accounts, together with login passwords, e mail verification, and Google Authenticator.
Whereas the historical past of OKX is probably not flawless, they’ve taken vital steps lately to bolster their transparency, safety, and repute and are actually thought of one of many most secure exchanges other than the regulated high 3.
