How To Make Money On OKX: Full Guide
OKX provides diverse avenues for potential investors to generate income, including affiliate programs, cryptocurrency trading, startup investments, staking, OKX Lending, etc. However, selecting the most suitable option necessitates careful consideration of exposure and responsibility.
The world of investing has taken another level as many platforms keep introducing new methods for investors to make money in the crypto market. If you decide to invest with these brokerages, your first task should be to learn how to profit from platforms such as OKX. This is due to the broker's integration of features and resources that traders require to profit from the digital market.
In this article, TU experts will discuss the various methods to make money on OKX and how to choose the best way to make money on OKX.
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Is OKX good for beginners?
Yes. OKX is easily navigable for novices thanks to its educational resources and user-friendly interface. Also, the high liquidity, which allows quick order execution, makes it a top choice for potential traders.
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How to get free crypto on OKX?
Invite your friends to join OKX to receive some free cryptocurrency. You and your friend will each receive a Mystery Box worth up to $50 USDT if your friend downloads the OKX app using your referral link, completes identity verification within 7 days, and makes a single cryptocurrency purchase or deposit exceeding $50 USDT. Additionally, you can get free coins by participating in OKX Learn to Earn Free Bitcoin, a brand-new educational project that OKX has launched. You can get free coins by answering the quiz, understanding OKX Hong Kong, and learning about blockchain technology.
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How do I receive money from OKX?
Open the OKX app, select Assets > Withdraw, then select the cash option to sell cryptocurrency and withdraw cash. The process of initiating a cash withdrawal involves choosing the bank account, inputting the desired amount, choosing Next to observe the withdrawal preview, choosing Withdraw, and finally entering your SMS code or authorization code.
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How do I sell on the OKX app?
To sell on the OKX app, go to Buy Crypto> P2P Trading after logging into your account. Choose the local currency you wish to receive by selecting Sell at the top. Please use the filters to view the results according to the amount, payment method, and other parameters. By clicking the appropriate Sell button, you can choose an offer. Next, enter how much cryptocurrency you wish to sell for local currency or how much you want to get in return. After the customer completes the payment, select the preferred payment method on the following screen to receive funds.
Top ideas on how to make money on OKX
Established in 2017, OKX, also known as OKEX, is a globally reputable cryptocurrency exchange offering financial services. This cryptocurrency platform is well-known for having a top-notch, in-house educational academy with helpful resources, a large selection of cryptocurrencies, a multilingual system with 20 languages, high-security cold and hot wallets, and cryptocurrency listing services.
They are a great choice for traders looking to learn how to make money on the OKX trading platform because they offer a variety of investment programs. In addition to purchasing and selling cryptocurrencies, you can profit from affiliate programs, storing tokens, and offering money for margin trading on the OKX platform. Below are ideas on how to make money on OKX.
Crypto trading
Crypto trading is a traditional way traders can make money on OKX. The goal is to sell these cryptocurrencies for a profit that exceeds the initial investment when their value increases. Prices for cryptocurrencies can change, just like in traditional markets. In addition to the possibility of price declines, there is also the potential for sudden and unpredictable price changes. To make informed decisions about buying or selling stocks based on their evaluation of price projections, traders must monitor these changes closely rather than relying exclusively on forecasts.
Therefore, it is imperative to engage in trading with a well-considered strategy and only invest funds that one can afford to lose. A prudent approach involves having a sound trading strategy, conducting thorough market analysis, and avoiding exposure to risks beyond one's financial capacity.
Staking
Another avenue to make money on OKX is by staking specific cryptocurrencies. Users who stake their cryptocurrency and hold onto it for a predetermined time can benefit from interest or dividends. Staking is available on OKX, starting at 0.01 ETH. OKX allows for instantaneous conversion and spot trading of BETH/ETH. There is also a short redemption window during which you can convert your BETH to ETH at a 1:1 ratio. Before staking your coins, make sure you do a thorough investigation of the various cryptocurrencies available.
One of the key differences between OKX and other staking platforms for cryptocurrencies is security. In addition to several excellent extra security features, OKX provides cold storage, two-factor authentication, and encryption to safeguard your cash.
Investment programs
Investing in OKX cryptocurrency involves buying and holding digital assets for an extended period. This tactic, also known as "HODLing," is predicated on the idea that the value of cryptocurrencies will increase as more people use and accept them. It entails holding onto your cryptocurrency investments despite market swings. Currently, investments in USDT, ETH, and BTC are accepted. The required minimum investments are 100 USDT, 0.1 ETH, and 0.01 BTC. Irrespective of future price fluctuations, the product provides a consistent return on investment.
You can benefit from this strategy on OKX because most altcoins are still in their infancy and could increase significantly in value if you hold them. However, conduct a thorough analysis of cryptocurrency assets before investing and practice patience, self-control, and a long-term perspective due to the possible risks connected with this investment strategy.
Affiliate program
The affiliate marketing program stands out as a straightforward method to earn money on OKX. Simply invite your friends to register and trade on OKX, and you'll start earning money through various avenues, including trading fee commissions, cashback, and additional bonuses. This program provides an opportunity to benefit from the OKX platform without directly participating in trading activities. After completing the affiliate registration process, the platform will give you a unique affiliate link and other materials to effectively convey the services it offers to your audience.
Once accepted into the program, you can seamlessly integrate the affiliate link into your website's content. When someone successfully signs up through your affiliate link, you receive 50% of their first month's trading fees. Every month, OKX will begin evaluating each affiliate and will instantly adjust commission rates based on your affiliate rank. Affiliates are evaluated based on the monthly trading volume of invitees. If you meet the requirements, you will get a raise in commission and be promoted to a higher level the following month. If you fail to meet the requirements for the current level for three consecutive months, the requirements will be changed. Commissions will not be paid to you if your affiliate level is zero.
What is the minimum deposit on OKX?
The minimum deposit needed to start active trading and investments on the OKX trading platform is 0.00005 BTC / 0.00000001 USDT.
Is it possible to earn $1,000 per month on OKX?
Yes, but this will be much easier for those who understand the crypto trading industry and know how to create top trading strategies and make top investment decisions. Although by following some processes, beginner traders can also make up to $1,000 on OKX, it is much easier for those with knowledge of the cryptocurrency market who are well-versed in using the best risk management techniques and have extensive experience using indicators for trade analysis.
A trader can aim to make up to $1,000 per month by putting the following advice into practice.
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Joining the OKX affiliate program will help you reach your $1,000 monthly goal. Commissions are paid to you when users recommend deposits and trades on the OKX platform.
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Another way to earn up to $1000 is to use the copy trading feature on the OKX trading platform. The copy trading system allows you to open positions and replicate the trades of experienced traders. Inexperienced traders on OKX learn from seasoned counterparts through the platform's copy trading feature, even if they lack a profound understanding of the market. Assessing a trader's trading performance—including past trades, gains, and losses—is essential before deciding which traders to copy.
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Coin staking on the OKX exchange is another way to make significant profits. You can earn interest and lower your risk of losing money by using this technique to lock up your coins for a predetermined period.
How to choose the best way to make money on OKX
A comprehensive understanding of each investment opportunity should be acquired by traders through an in-depth investigation of all options. Prospective traders and investors are advised to consider the advantages, disadvantages, risks, and returns associated with investing on the platform. Evaluate the processes and resources required for these investments to determine whether they complement other investment strategies well.
Furthermore, because certain details can affect overall returns, it is imperative to understand specifics like minimum investment amounts, commissions, withdrawal policies, and associated costs. It is recommended that traders use a demo trading account to test and refine their plans before committing fully to any investing strategy.
Exert patience and monitor the financial markets closely, but if you decide to copy the trades of knowledgeable traders, ensure you assess their performance beforehand. The best course of action when investing in cryptocurrencies is to start small. If the market declines, this will help you limit your losses. A variety of cryptocurrency investments are a crucial part of a diversified portfolio. It decreases the risk that you will experience if a particular cryptocurrency underperforms.
Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.