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02.09.2022 10:42

Is using Huobi and OKX a good idea?

Cryptocurrencies (virtual currencies) are a solution that is becoming more and more popular all over the world. Investments in cryptocurrencies are possible through online exchanges, which can be found on the wellcrypto platform. These include, in particular, the Huobi exchange and OKX. What is stock data?

Huobi is an online exchange for trading virtual currencies (cryptocurrencies). According to huobi global review, over nine million users are already using this platform (as of June 2022). Huobi can be used almost all over the world, that is, in more than 180 countries.

User Reviews of the Huobi Cryptocurrency Exchange
Although Huobi was founded relatively recently (2017), it has already earned recognition in the market. This is evidenced, for example, by positive reviews on Google Play about the mobile application. The average value of more than forty thousand user ratings is about 4.6 on a five-point scale. Let's take a closer look at okx pros and cons right now.

Positive impressions are associated, in particular, with an understandable (minimalist) and user-friendly interface, as well as relatively low commissions. Access to a wide range of cryptocurrencies is also appreciated (you can choose from several hundred different financial instruments). Interestingly, this asset is sometimes seen as... a disadvantage. According to some, the rich offer makes Huobi a tool mainly for professional and experienced players.

As for the shortcomings of the Huobi exchange, the negative opinions are mainly related to the technical aspects. Criticism includes aspects such as:

delays in placing orders,
long verification process for new users - this can be frustrating given that the cryptocurrency market is highly dynamic.

Exchange OKX - verification of new users
Creating an account on the OKX cryptocurrency exchange is relatively simple and intuitive. This is done by visiting a website or launching a mobile application. Registration requires a phone number/email address. After providing the necessary data, setting a password, etc., the new user will be prompted to activate the system. The required link is sent via SMS or e-mail.

As with other similar platforms, it is necessary to authorize the profile of a new investor. This step requires KYC (Know Your Customer) verification to complete correctly. KYC verification requires a new user to provide types of information such as:

full name,
residential address.

The process does not end there. In order to be able to use the account as a full user, you must send a scan/photo of an identity document (ID card). Only after that - if OKX employees have no objections - the investor's account will be authorized.

Is using Huobi and OKX a good idea?

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