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Profit-making in cryptocurrency is largely dominated by two ways; one either chooses to hodl crypto by purchasing it periodically and letting the profits compound or by trading cryptocurrency during the market fluctuations. Both these approaches require a secure, stable, and trustworthy exchange that facilitates the transaction.
Here’s where a robust trading exchange like OKEx comes into the picture.
Crypto traders make their profits by relying on proven trading strategies and by scouring for the exchange with the lowest trading fee. Being one of the very few exchanges with high liquidity and trading volume, OKEx dominates the trading arena.
With over 300 exchanges in the market today and 5000+ cryptocurrencies, as per a recent survey by CoinMarketCap, it’s all the more crucial to avidly compare and select an ideal exchange for your trading journey. In this article, let’s dive deeper into what factors one must keep in mind while selecting an exchange for regular trading and also dissecting trading fee structures.
THE DECIDING FACTOR
- Security: Exchanges today employ blockchain tech and crypto encryption techniques to secure their order books and ledgers. Security of funds is pinnacle while selecting an exchange for your trade. With OKEx’s 2FA authentication, traders can strategize in peace. The exchange also holds an unbroken history of less to zero downtime.
- Unified Accounts: OKEx Unified account aims to combine all account types into a centralized location to enhance operational efficacy, decrease threshold costs and learning time. With amateur and new-to-the-market traders entering the crypto realm, this unified system of trading has been proven easy to grasp. Its simple mode caters to spot traders and options buyers, both and also has option for single and multi-currency margin modes
- Customer Support: OKEx is currently operational in more than 100 countries around the globe and upholds strong customer support systems. Incase of any disputes, OKEx’s support team works in unison to disburse your queries and secure your trades via their adept chat system, through telegram support groups as well as via email.
DOES OKEx PROVIDE THE LOWEST TRADING FEES IN THE MARKET?
Yes, OKEx houses one of the lowest trading fee structures in the crypto market today. OKExVIP users further enjoy enhanced perks and class-wise lower trading fees based on the extent of the trading volume.
OKEx just upgraded its fee rate system. Integrating yourself into OKEx’s VIP program is easier than ever. As opposed to the previous leveling system, OKEx users can badge up to VIP 1 by simply depositing 100, 000 USDT and get a redemption of upto 66.6% of the trading fee. Enjoy perks and concessions on maker and taker fees for spot, futures, options and perpetual trades.
As you progress towards higher levels, users get privy to better fee rates, reduced transaction costs and higher loan amounts. The higher the amount of assets, the greater the discount and exemption of trading fees.
Here’s a preview of the OKEx VIP Trading fee structure.
| Regular user | |||||||||||
| Tier | Asset (USD) | Total OKB holding | 30-day trading volume (USD) | Spot maker fee | Spot taker fee | Futures maker fee | Futures taker fee | Perpetual maker fee | Perpetual taker fee | Option maker fee | Option taker fee |
| Lv 1 | <100,000 | <500 | < 10,000,000 | 0.080% | 0.100% | 0.020% | 0.050% | 0.020% | 0.050% | 0.020% | 0.050% |
| Lv 2 | <100,000 | ≥500 | < 10,000,000 | 0.075% | 0.095% | 0.017% | 0.045% | 0.017% | 0.045% | 0.018% | 0.045% |
| Lv 3 | <100,000 | ≥1,000 | < 10,000,000 | 0.070% | 0.090% | 0.017% | 0.040% | 0.017% | 0.040% | 0.017% | 0.040% |
| Lv 4 | <100,000 | ≥1,500 | < 10,000,000 | 0.065% | 0.085% | 0.016% | 0.035% | 0.016% | 0.035% | 0.016% | 0.035% |
| Lv 5 | <100,000 | ≥2,000 | < 10,000,000 | 0.060% | 0.080% | 0.015% | 0.030% | 0.015% | 0.030% | 0.015% | 0.030%
|
| Vip user | |||||||||||
| Tier | Asset (USD) | Total OKB holding | 30-day trading volume (USD) | Spot maker fee | Spot taker fee | Futures maker fee | Futures taker fee | Perpetual maker fee | Perpetual taker fee | Option maker fee | Option taker fee |
| VIP 1 | ≥100,000 | – | ≥ 10,000,000 | 0.060% | 0.080% | 0.010% | 0.030% | 0.010% | 0.030% | 0.015% | 0.030% |
| VIP 2 | ≥500,000 | – | ≥ 20,000,000 | 0.040% | 0.075% | 0.005% | 0.030% | 0.005% | 0.030% | 0.010% | 0.030% |
| VIP 3 | ≥2,000,000 | – | ≥ 50,000,000 | 0.020% | 0.070% | 0.000% | 0.030% | 0.000% | 0.030% | 0.005% | 0.030% |
| VIP 4 | ≥5,000,000 | – | ≥ 100,000,000 | 0.000% | 0.060% | 0.000% | 0.025% | 0.000% | 0.025% | 0.000% | 0.025% |
| VIP5 | – | – | ≥ 200,000,000 | -0.002% | 0.050% | -0.002% | 0.025% | -0.002% | 0.025% | -0.002% | 0.025% |
| VIP6 | – | – | ≥ 500,000,000 | -0.005% | 0.040% | -0.005% | 0.025% | -0.005% | 0.025% | -0.005% | 0.025% |
| VIP7 | – | – | ≥ 1,000,000,000 | -0.010% | 0.030% | -0.010% | 0.025% | -0.010% | 0.025% | -0.010% | 0.025% |
| VIP8 | – | – | ≥ 10,000,000,000 | -0.010% | 0.025% | -0.010% | 0.020% | -0.010% | 0.020% | -0.010% | 0.020% |
OKEx will take a snapshot of the users’ assets from different types of coins at 16:00 UTC every day and convert the price of USDT into BTC.
Snapshot assets include: classic accounts (spot, leverage, futures, perpetual swap and options), trading accounts (unified accounts), asset accounts, financial accounts, assets borrowed in leverage and loans shall not be counted.
Further USD conversion according to the daily BTC/USD middle price takes place: (BTC/USD middle price = (opening price + closing price)/2)
Click here to know more: https://www.ouyi.fit/support/hc/en-us/articles/4417269816845-OKEx-fee-rate-system-upgrade-to-introduce-new-asset-balance-requirement
Now that you’re up to speed on the various perks you can unlock with OKEx VIP, it’s time to get charting. Sign up on www.okex.com today!
