OKEx is a digital asset exchange powered by blockchain technology in providing high-level financial services to seasoned sellers and traders all around the globe. This platform has four major trading categories namely C2C, Index, Token, and Futures trading.
We’ll walk you through some steps for you to start trading with OKEx.
The first thing you need to do in order to buy Monero (XMR) on OKEx is to create an account. To create an account on Binance, click on the button below and follow the instructions.
To register as a new user with OKEx, click on the Sign-Up button at the upper-right hand corner of the page.
Fill out the Sign-Up form. The second box will ask you to enter the email code. Click on the Get code button.
To get the code, go to your Inbox and copy it.
Go back to the Sign-Up page, paste the code, then click on the Sign-Up button to gain access to your OKEx account.
To fully gain access to all features on OKEx, you need to complete verifying your account.
Let’s get started.
Click on the drop-down arrow next to your account to select Security.
Go to Verification and complete all three levels.
Level one will ask you to select your Nationality through the drop-down arrow. Next, type in your real name, then input a valid ID number. Once done, click on the Submit button.
Continue filling out Level 2 and 3.
A green checkmark indicates that you have successfully verified each step.
Also, part of this platform’s security measures is to link your mobile number into your account. To do so, go to Link Mobile Number and click on Settings.
The Settings Phone Number will show up. Fill out each box.
You need to enter three codes to link your phone number. These are the SMS code which you will receive through text, the Email code which will be sent out to the email address setup on the account, and the Google code from the Google Authenticator app.
Next is to create a Bind Fund Password to secure your assets. It is important not to lose the code because you won’t be able to withdraw any funds without it.
Click on the Confirm box to proceed.
Make sure to review the Security page of your OKEx account to see if everything has a green check mark. This checkmark confirms that you’ve gone through every step to secure your OKEx account.
Wondering what 2FA is?
Two-factor authentication (also known as 2FA) is a type (subset) of multi-factor authentication. It is a method of confirming a user’s claimed identity by utilizing a combination of two different factors: 1) something they know, 2) something they have, or 3) something they are.
An excellent example of two-factor authentication is the withdrawing of money from an ATM; only the correct combination of a bank card (something that the user possesses) and a PIN (personal identification number, something that the user knows) allows the transaction to be carried out.
In the case of exchanges what the user knows are the login details username and password and what he possesses is the 2nd factor for the authentication which is a code. The code can be either received through SMS on users personal mobile phone or found in an application like Google Authenticator or Authy.
So, to get to the 2FA section, go to Security and look for Google Authenticator.
Click on Settings.
Scan the barcode and enter the numbers. Click on the confirm box to proceed.
The green ‘ON’ button is an indication that 2FA has been enabled on the account. Click on the same button to turn it off, should you wish to disable Google Authenticator.
Now that we’ve set every security measure, we are ready to deposit to your account.
Click on Account and go to My Wallet where you can manage your funds. Select the cryptocurrency you wish to deposit, then click on Token Deposit.
You will be re-directed to the Token Deposit environment. Here, you can copy the address for you to transfer bitcoins into your OKEx account.
You can view your transactions by going through History or All Records.
After depositing your funds, go back to My Wallet to check your balance.
Depositing fiat currency is not yet available with OKEx.
Go to History if you wish to review every transaction you’ve made. You can filter your selection according to Market Order, Transaction Type, or Date.
OKEx has four major trading categories: C2C, Index, Token and Futures trading. Trading funds are divided into four different accounts to minimize investment risks and for you to be able to manage your accounts effectively.
Let’s start trading Monero (XMR) using your funded OKEx account.
Go to My Wallet and select the token you wish to trade. Then, click on Transfer.
Choose the trading account and amount, then click on the Confirm button to complete the transfer.
Click the arrow in the middle if you opt to transfer funds from trading account back to My Wallet.
Select “History” to check all deposit, withdrawal, and transfer transactions.
Trading and investing in digital assets is highly speculative and comes with many risks. The analysis/stats on CoinCheckup.com and it’s subsites are for informational purposes and should not be considered investment advice and or the truth. Statements and financial information on CoinCheckup.com and it’s subsites should not be construed as an endorsement or recommendation to buy, sell or hold.
Please do your own research on all of your investments carefully. Scores are based on averages of third party websites. Past performance is no indicative of future results. Read the full disclaimer here.