The OKX cryptocurrency exchange appeared in 2013. The platform is one of the top ones and is among the top ten according to CoinMarketCap service. Professional traders worldwide choose OKX for its wide range of supported assets, including more than 80 fiat currencies, spot trading instruments, futures, open-ended swaps, options and other advantages that make the platform a favorite among competitors.
The platform continues to evolve, so in early 2022 the company rebranded itself. OKEX became OKX. The changes are due to the fact that the trading platform has been significantly expanded.
Automated trading using a trading bot for OKX is also possible on the platform.
When the company was just starting out in the crypto industry, there was an active policy in the United States to ban blockchain projects that sold futures on digital assets. The company’s management decided that it was not feasible to develop the project in such conditions and they chose another place for OKX to start, which was Hong Kong.
In 2018, the platform had a native OKB token on the Ethereum blockchain. Half a million tokens were received by exchange users.
Registration and verification at OKX
Registration on the platform takes place in the usual form. You need to go to the official website of the platform, then select the “register” button. In the fields, enter your email address and come up with a password. The platform is multilingual, so there should be no problems with the language barrier.
You can work on the platform without verification. It is not mandatory.
However, it should be understood that the KYC procedure is initially needed by the users themselves to provide greater protection for the account. Therefore, it is still worth verifying for extra security.
There is also a two-factor account authentication on the platform, which must be activated.
Deposit and withdrawal of funds
You can make a deposit on an exchange using cryptocurrency, but if you want to use fiat, you will have to use P2P trading. It can be used to buy and sell digital assets for fiat. The list of currencies supported by the system includes dozens of national currencies, including USD and EUR. The P2P platform is directly linked to OKX accounts.
In order to withdraw funds from the platform KYC-1 is required. Users can then withdraw up to 200 BTC per day. If you need to withdraw more than that, you will need to go through extended verification, which will allow you to withdraw up to 500 BTC per day.
Automated trading on OKX
According to statistics in the traditional market, around 70% of traders use the services of trading bots. This high percentage is due to the fact that automated trading greatly simplifies trading. Considering that the cryptocurrency market adopts a lot from the traditional market, we can assume that here too the percentage of bot users is not less.
What are the benefits of a crypto-bot for OKX:
- 24/7 trading;
- The ability to trade multiple trading pairs simultaneously;
- Versatility and scalability.
The diverse functionality of the RevenueBot bot building service allows users to implement a wide variety of trading strategies.