About OKX
What Is OKX?
OKX is a Seychelles-based cryptocurrency centralized exchange (CEX) and wallet platform that serves millions of clients worldwide. The exchange offers basic trading including spot and simple options, and derivatives including margin, futures, perpetual swaps and options. Other products include: trading bots, block trading, OKX Earn (savings, stablecoins, DeFi, staking, ETH 2.0 and more), crypto loans and Jumpstart, the exchange’s launchpad.
OKX wallet claims to be the “portal to Web3,” offering a crypto hot wallet, decentralized exchange (DEX), a NFT marketplace and decentralized applications (DApps). The wallet supports over 30 networks, including major blockchains like Bitcoin, Ethereum, BNB Chain, Solana, Polygon, Avalanche, Fantom and more.
OKX also has its own native blockchain — OKX Chain and native token — OKB, which allows builders and projects to deploy DApps and developers to use infrastructure like OKX Oracle and more.
In January 2022, OKEx was rebranded as OKX, with a new branding and roadmap.
Who Are the OKX Founders?
OKX (formerly OKEx) is a subsidiary of OKCoin owned by OK Group.
The company was founded by Mingxing "Star" Xu back in 2013 in China. Xu is a Chinese entrepreneur. He holds a Bachelor's degree in Applied Physics from the University of Science and Technology Beijing. Star Xu is CEO of OK Group.
The present CEO of OKX is Jay Hao.
When Did OKX Launch?
The exchange, formerly known as OKEX, was launched in 2017.
Where Is OKX Located?
The company is headquartered in Seychelles.
OKX Restricted Countries
The project is supported in over 200 countries. However, residents of the United States don’t have access to the platform's services.
What Coins Are Supported on OKX?
The exchange lists over 350 cryptocurrencies and supports more than 500 trading pairs. The platform lists major tokens including BTC, ETH, OKB, AAVE, SOL, MATIC, XRP, DOGE, SHIB, and DOT.
How Much Are OKX Fees?
The fee structure is based on market taker and maker model. Trading fees on the platform start at 0.10% and decrease as trading volume increases. For regular users, fees depend on the number of OKB (native currency) in the OKX ecosystem, while for advanced users, fees are based on their 30-day trading volumes.
Is It Possible To Use Leverage or Margin Trading on OKX?
OKX offers margin trading with leverage up to 10X. For derivatives, OKX also offers futures trading and perpetual swaps with up to 125X leverage. Traders can also leverage through crypto options, including BTC, ETH and more.
About Kraken
What Is Kraken?
Kraken is a US-based cryptocurrency exchange where users can buy, sell and trade various assets with relatively low commissions. Clients can also earn rewards through coin staking. The exchange has a leading level euro volume and liquidity and allows users to trade over 100 crypto assets and 7 fiat currencies, including USD, CAD, EUR, GBP, JPY, CHF and AUD, on-the-go with a web platform and mobile apps.
Founded in 2011, it was one of the first few crypto exchanges offering spot trading, derivatives and index products. Today, the company offers numerous products and services, including but not limited to: spot trading, margin trading, futures, indices, stakings, OTC and an upcoming non-fungible token (NFT) marketplace. The exchange serves over 8 million traders and institutional clients, and is backed by Digital Currency Group, Blockchain Capital, Tribe Capital, Hummingbird Ventures and more.
Who Are the Kraken Founders?
The centralized exchange is owned by Payward Inc., founded by its CEO, crypto pioneer Jesse Powell.
Powell has been working with digital currencies since 2001. He graduated from California State University with a degree in Philosophy with a concentration in Ethics & Law, founded the Verge Gallery and Studio Project, created Internet Ventures & Holdings.
When Did Kraken Launch?
Kraken was founded in 2011 and launched in September 2013, offering Bitcoin, Litecoin and euro-denominated trades initially.
Where Is Kraken Located?
The company is based in San Francisco, California.
Kraken Restricted Countries
Kraken is available to all U.S. residents, except those living in New York and Washington. However, Kraken Futures are not available to all U.S. residents. Currently, the platform serves millions of customers in approximately 200 countries.
The company has several restrictions for the following countries: Afghanistan, Central African Republic, Congo-Brazzaville, Eritrea, Congo-Kinshasa, Guinea-Bissau, Cuba, Lebanon, Iran, Mali, Iraq, Namibia, Libya, Somalia, North Korea, South Sudan, Syria, Sudan, Tajikistan and Yemen.
What Coins Are Supported on Kraken?
More than 120 coins are supported on the platform, including BTC, ETH, LTC, XRP, ETC, ZEC, USDT and more.
How Much Are Kraken Fees?
Fees on the platform vary across different products, such as Instant Buy, Kraken Pro, Stablecoins, Margin, Futures and NFT. For the basic Instant Buy service, the company charges a fee of 0.9% for stablecoins and 1.5% for other crypto assets, on top of fees charged for different payment methods. For Kraken Pro, it uses a maker-taker fee model where maker fees range 0.00% to 0.16% and taker fees range from 0.10% to 0.26%, depending on how often a user trades each 30-day period.
Is It Possible To Use Leverage or Margin Trading on Kraken?
For advanced users, Kraken Pro offers margin and futures features. The platform offers up to 5X leverage. The maximum level of leverage depends on the currency pair.
Comparison between two big Bitcoin markets
| Feature | OKX | Kraken |
|---|---|---|
| Year Established | 2013 | 2011 |
| Headquarters | Malta | United States |
| Trading Pairs | Offers a wide range of cryptocurrencies | Extensive list of cryptocurrencies |
| Trading Options | Spot trading, futures, options, margin | Spot trading, futures, margin trading |
| User Interface | User-friendly, suitable for beginners | User-friendly, suitable for beginners |
| Security | Strong emphasis on security measures | Emphasizes robust security protocols |
| Fiat Support | Supports fiat-to-crypto trading | Supports fiat-to-crypto trading |
| Regulation | Compliant with regulations where it operates | Compliant with regulations |
| Mobile App | Available for iOS and Android | Available for iOS and Android |
| Liquidity | High liquidity, especially for major cryptocurrencies | High liquidity, particularly for major cryptos |
| Fee Structure | Tiered fee structure, varies with trading volume | Tiered fee structure, competitive fees |
| Community Trust | Generally positive reputation | Generally positive reputation |
| Innovations/Features | Offers staking, savings, and DeFi services | Advanced trading tools, OTC desk |
Please note that the cryptocurrency exchange landscape can change rapidly, and it's advisable to check the latest information and user reviews before making any decisions. Additionally, specific features and services may vary over time as exchanges update their offerings