What is OkEx?
OKEx is a digital currency exchange with origins rooted in China. The exchange is a branch of OkCoin and it is geared towards more of professional traders than the ordinary trader, so if you are a beginner, this might be a tad bit difficult for you. OkEx offers a wide range of crypto pairs, making it an exchange with great advantage for traders. OkEx was founded in 2011, and it has since its inception become one of the top exchange platforms in the world in terms of volume of transactions. This implies that the exchange company has high liquidity in most of the trading pairs that it offers. It is also known for low trading fees which range from 0.03% and 0.15%; depending on the value involved. This makes it a preffered option when considering the cost of trading digital currencies. To cap it all, it is one of the few exchange companies that supports a desktop platform that is fully independent.
Opening a New Account
As established earlier, OkEx is more of a exchange platform for professionals. The steps given in this article might look strange but in all, it has been simplified in such a way that even a beginner in the trade can open account.
Step 1 – Visit www.okex.com
The homepage of OkEx is as shown above. It is advised that you bookmark this site on your browser for easy reference. Also, there have been reported cases where traders lose huge amount of money, just by missing an alphabet in a web address. Also, never click on unauthorized emails from this site. On the top right of the homepage is the ‘Sign Up’ button. Click on the button.
Step 2 – Sign Up
Step 3 – Account Settings
Unlike most exchanges, the verification exercises on OkEx are different. Once you click the sign up button as directed on previous step, you will be taken straight to the homepage of OkEx that will look like the image above. At the top right is your email account written with a drop down sign. Click on the drop down feature and select ‘Settings’. Apparently, you have to set up a ‘Fund Password’.
Step 4 – Setting up Fund Password
In setting up Fund Password, you will need a Google authenticator. Google authenticator can be set up by downloading the Google Authenticator app straight to your smart phone. Use the app to read the QR code as shown below; on the Bind Google Authenticator tab. Note that there are a bunch of strings close to the QR code, those strings makes up your backup key which is used to reset your 2FA password, just in case you lost your phone. It is advised that you keep this key stored somewhere outside your computer and if possible, off the internet. When you have eventually authenticated the QR code, your Google Authentication app will give you a code. Put this code where it should be and apply the same code that was sent to your email earlier on the Email Code field. The image is shown below;
Once you have proceeded past this stage, you can then set up your fund password, and then proceed to deposit tokens into your new account. Deposition can be done with fiat currencies through the use of bank accounts, and it can also be done through the use of transfers from other exchanges.