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Choose your quick section of our OKEx review below.
A Quick Overview of our OKEx Review:
OKEx is also well-known for its low trading fees which range from between 0.03% up to 0.15%.
What is OKEx?
OKEx is a popular and reputable online cryptocurrency exchange that provides an array of financial services to traders by using advanced, innovative blockchain technology. OKB, the native token of OKEx, is one of the top 100 cryptocurrencies featured on its home exchange along with several other major exchanges.
Key Features and Takeaways of OKEx
OKEx is a reputable and trusted exchange which has the following key features and takeaways:
OKEx was established in 2017 and it has grown to become one of the largest cryptocurrency exchanges in the world in terms of trading volume, ensuring that there are near-consistent levels of high volatility on the platform.
OKEx is also well-known for its low trading fees which range from between 0.03% up to 0.15%.
During 2025, OKEx announced that it would launch its own blockchain, known as OKChain, with testing starting that same year. Alongside the blockchain, OKEx would also develop a decentralised exchange (DEX).
Despite the initial naming of the blockchain, OKEx’s blockchain is known as OKExChain according to the official website and it is a set of open-source public chain projects which have been developed by OKEx.
OKExChain has achieved high performance and decentralisation, it also promotes the development of trading services which are based on blockchain technology.
OKExChain allows its users to launch their own decentralised applications (DApps) in addition to launching digital assets, create digital asset trading pairs, and to trade freely.
Anyone can campaign to become a network validator on OKExChain and to participate in community development.
In addition, OKEx also introduced an Ethereum Virtual Machine along with an OKEx cross-chain gateway, which means that the exchange allows for interoperability and it is compatible with IBC cross-chain solutions of Cosmos.
OKEx chain features decentralised governance and users of OKT can direct OKExChain development through the initiation and voting of proposals.
OKT is the native token of the OKExChain ecosystem, and it will be distributed to holders of OKB tokens who have staked their OKB on OKEx Jumpstart. OKT can be staked to become a validator, allowing users to earn block rewards in proportion to the votes that they receive.
Where Ethereum has ERC20 tokens which are built on the blockchain, OKExChain has KIP20, which are token standards compatible with EVM as well as OKExChain. This can be applied to all DApps through smart contracts.
After the launch of EVM, OKExChain will support Ethereum address formats, with private keys that can generate an address which starts with “ex” and one that starts with “0x”. These two addresses share the balance, and they can be used for transfers and collections.
OKEx Mining
OKEx and OKExChain do not use a Proof of Work (PoW) but a Proof of Stake (PoS) which means that OKB and OKT tokens cannot be mined but can be staked to earn rewards.
OKExChain is based on Tendermint which means that it relies on a set of validators who commit new blocks in the blockchain. These validators participate in the consensus mechanism by broadcasting votes that contain cryptographic signatures, signed by each validator’s private key.
The validators commit new block, and they receive revenue in exchange for the work that they do. These validators are expected to participate in governance by voting on proposals. All validators in the network are weighted according to the amount of OKT that they have staked.
As mentioned, the weight of each validator is determined by the amount of OKT tokens that they have staked and bonded as collateral. These OKTs can either be self-delegated by the validator, or it can be delegated to them by other OKT holders.
Users in the system can declare their attention to become a validator by sending a “create-validator” transaction. While anyone can become a validator, only the top 21 validators in the network, those who have the largest voting power, can become active validators.
Pros and Cons
| ✔️Pros | ❌Cons |
|---|---|
| OKEx has its own innovative, proprietary blockchain which allows for the development and deployment of DApps | US citizens are not accepted by the OKEx platform as result of regulatory issues |
| OKEx supports EVM and has a cross-chain gateway that is compatible with IBC cross-chain solutions of Cosmos | There are stringent limitations where withdrawals are concerned |
| Financing and trading fees on OKEx are low | OKEx is facing a lot of competition in the field despite its innovative technologies |
| With OKEx, fiat currency deposits are allowed, allowing for more versatility to those who do not own crypto yet |
Transaction Fees
| Type of Fee | Information |
|---|---|
| Trading Fees | From 0.03% to 0.15% |
| Withdrawal Fees | 4.4 OKB |
Should you buy OKEx?
OKEx is not merely a cryptocurrency exchange anymore, it is evolving and rapidly expanding to take advantage of the advances in blockchain technology. OKExChain is the native blockchain of OKEx and the development team behind the exchange and these technologies have announced several new additions and features.
With these additions, OKEx is set to rise in popularity, putting it alongside leading technologies such as Ethereum and Bitcoin. OKEx is transparent in their plans and users can easily access the roadmap on the official OKEx website. This level of transparency draws in investors, and the promises the development team makes are backed with continuous launches and releases, instilling confidence in the platform and its rising features and technologies.
This, and several other factors, makes OKEx the perfect investment vessel for many, and it draws more traders, developers, and other users towards OKEx.
How to buy OKEx (OKB/OKT)
Step 1 – Register an account with Gate.io
Navigate to the official Gate.io website and select the option to “Sign Up” from the homepage.
Complete the online registration form by providing country/region, a selected username, email address, and user-selected password. Read and accept the User Agreement and Privacy and select “Next”.
Create a fund password and select “Create Account”. Complete the “I am not a robot” reCAPTCHA. Check your email inbox for the activation email and click on the link in the email. If the link does not work, you can copy and paste the URL into your browser.
Log into your account using your credentials and complete the reCAPTCHA.
Check your email again for the verification email that contains the 6-digit code and click on “Confirm”. Enter the code that you received into the blocks provided and select “Log In” to proceed.
Before you can use the platform to purchase OKB and other cryptocurrencies on Gate.io, you must complete the “Know Your Client” or KYC procedure to verify your identity and your proof of residence.
Click on “KYC Now” at the bottom of the webpage to start the process.
Select whether you are an individual or an organisation by selecting “Verify Now” under the relevant option.
Select your country from the dropdown list, enter your full name followed by confirmation thereof. Select your ID document type and provide your ID Number as shown on your official ID Document.
Click on the first image to upload a clear photo of the front of your ID document followed by a clear photo of the back of the document.
Next, write your Gate.io unique ID on a piece of paper and take a photo of yourself holding up your identity document (front) and the paper containing your unique ID.
Once you have done this, click on “Confirm and Submit”.
Next, you must enable the Timed One-Time Password (TOTP) to be able to log into your account. This can be done by clicking on “Set Now” at the bottom of the page.
On the new page that loads, select “Click here” to set up Two-factor Authentication.
Download Google Authenticator onto your mobile device by making use of any of the abovementioned methods.
Follow the steps indicated to add your Gate.io account by scanning the QR code or entering your unique key.
Enter the TOTP, your fund password, and the code sent to your email address and select “Enable Two-factor Authentication”. With this setup, you must use the Google Authenticator app to sign into your account every time.
Step 2 – Deposit funds
You must note that Gate.io is only a crypto-to-crypto exchange which means there is no fiat gateway. The only way through which funds can be added, is to transfer an existing crypto into your Gate.io wallet.
OKB can only be bought through Tether/USDT or Bitcoin/BTC while it can be traded with USD as a futures contract.
Navigate to the deposit/withdrawal section by hovering over your account and selecting the relevant option. Choose from the list of coins in which you can make a deposit and select “deposit” next to the appropriate coin.
You will be redirected to a page which generates a deposit address for the coin that you wish to deposit.
Copy this address, or scan the QR code, into the wallet where you are making a withdrawal from and depositing to Gate.io and wait for the relevant blockchain to confirm your transaction. Once the transaction has been completed and verified by the nodes on the chain, the coins will be sent to the Gate.io wallet and you can start trading OKB.
Step 3 – Explore your trading options
Gate.io offers a variety of ways through which cryptocurrencies can be obtained. Each of these can be explored individually depending on your trading needs and objectives.
Users can trade either OKB or OKT on Gate.io. For this article, the focus will be on the trade of OKB, which is still the native token of OKEx, whereas OKT is the token for OKExChain.
To start trading OKB , select the option from the “Trade” Menu. Enter “OKB” into the search bar to see which trading options are available.
For spot trading, for instance and as an example, select OKB_USDT. Once you have selected, you will be directed to the exchange page which corresponds to the cryptocurrency pair OKB/USDT.
Here, you will see that you have the option to buy or sell OKB either as a limit order, grid trading, or as a time condition. The most common trading method is that of limit trading and thus it will be used for this guide.
Step 3 – Buy OKB through via Limit Order
To buy OKB and create a limit order for it, you can enter the amount of OKB you want to purchase, and the price you want to buy it at in USDT. This tool will tell you what the overall cost is in USDT, or any other chosen counter-currency, which will be deducted from your wallet once the order has been executed.
Step 4 – Sell OKB through via Limit Order
To sell OKB, find the panel under the chart and create a limit order for USDT according to your own preferences. Note that with a peg to USD, OKB that you exchange for USDT will hold the flat value that it has despite market conditions in the cryptocurrency market.
Step 5 – Withdraw funds
To withdraw funds, you will use the same page in Gate.io which was used to make a deposit.
Click on the deposit/withdrawal option on your Account dropdown and find the wallet of the currency that you wish to withdraw. You can do this easily by using the search bar provided.
Instead of a deposit address being generated, you will do this on the exchange, or the wallet being used as the destination for withdrawal of funds from Gate.io. Paste the address of the receiving wallet in the field provided and provide your Gate.io fund password, email code, and TOTP before selecting “Submit Request”.
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Frequently Asked Questions
When was OKEx first launched?
OKEx exchange was founded in 2014, with OKB launching in 2018.
Who founded OKEx?
OKEx was founded by Star Xu.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was OKEx’s ICO and how much did it raise?
There was no ICO held for OKEx’s OKB or OKT.
Is OKEx legit?
Yes, OKEx is legit.
What is OKEx’s total supply?
There is a total supply of 1 billion OKB tokens with a maximum supply of 41 963 350 OKT tokens.
What is the purpose of OKEx?
The aim is to provide a trading platform with low fees where users can exchange and trade a large variety of cryptocurrencies. The OKExChain aims to provide users with a decentralised, scalable solution on which DApps and smart contracts can be built.
On which blockchain is OKEx based?
OKEx has its own blockchain, OKExChain.
Does OKEx work with smart contracts?
Yes, OKExChain supports the use of smart contracts.
Does OKEx have potential to become more valuable?
Yes, OKEx has the potential to become more valuable long-term.
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