OKX

OKX launched in 2017 as OKEx, founded by Star Xu, and took its current name in January 2022. Its global platform is run by Aux Cayes Fintech Co. Ltd, a Seychelles company, which is why most of the world signs up under an offshore entity rather than a locally licensed one. That has been changing. In January 2025 its Malta entity received one of the first MiCA licenses granted to a global exchange, issued by the Malta Financial Services Authority and passported across the European Economic Area. In Dubai, OKX Middle East Fintech FZE holds a VASP license from VARA and has run a fully regulated local exchange with AED deposits since 2024.

The record is not spotless. In February 2025 the Seychelles entity pleaded guilty in the US to operating an unlicensed money transmitting business between 2018 and early 2024 and paid penalties totaling more than $504 million. OKX then launched a separate, compliant US platform in April 2025, headquartered in San Jose, California. If you are weighing whether to trust the exchange with a deposit, both halves of that story matter.

OKX is a full-range crypto exchange: spot trading across hundreds of pairs, perpetual and dated futures, margin, an Earn section for staking and savings products, and a self-custody Web3 wallet that connects to DeFi apps. Base spot fees are 0.08% for makers and 0.10% for takers, dropping with volume or OKB holdings; perpetuals start at 0.02% maker and 0.05% taker.

For someone chasing a sign-up reward, the parts that matter are simpler. Deposits can be made in crypto from another wallet or exchange, or by buying crypto with fiat. Reward tasks usually key off these two actions, and the fine print distinguishes them from internal transfers, which do not count. Trading tasks are typically measured per single order, so several small trades that add up to the threshold will not qualify. Stablecoin zero-fee pairs and the Convert function are excluded from trade tasks.

The core global offer is a mystery box program for new users who register through a referral, affiliate or other designated link. You get a box for completing tasks such as a first deposit of at least $50, made either by buying crypto with fiat or by transferring at least $50 of crypto in a single deposit. OKX advertises box contents worth up to $10,000 in coins like BTC, ETH or OKB, plus fee rebate cards. Treat the headline number as a ceiling, not an expectation; typical boxes pay small amounts, and the realistic value of the offer is in the tens of dollars, not thousands.

Timing rules are strict. You must log in to the app within 30 days of registration, each box must be opened within 30 days of receipt or it expires, and after 180 days you can no longer see your task progress at all. Crypto rewards arrive locked: during the lock-up you cannot withdraw or trade them, and they release automatically when the period shown in the app ends. Rebate cards offset trading fees rather than paying out cash. Sub-accounts are excluded, and OKX claws back rewards for multi-accounting, fake KYC or wash trading.

Reward campaigns are regional, and the exact tasks and amounts differ by country, so the offer you see after signup may not match what a review site screenshotted. The global platform does not serve US residents; instead, OKX US runs its own promotion. Under the US terms you must complete advanced identity verification, then deposit and trade the specified amount within 7 days of opening the account. US rewards are tiered by deposit size, and you must keep the qualifying balance on the platform for 30 days within a 90-day window or OKX reclaims the reward. Some states and territories are excluded, so check the US disclosure before counting on eligibility.

Several countries cannot use OKX at all or only with limited service, including sanctioned jurisdictions and markets such as India, Canada and Nigeria. The referral program follows the same pattern everywhere: your friend signs up with your code, completes identity verification and a deposit task, and both sides receive rewards that vary by campaign.

First, confirm you registered through a qualifying link; organic signups often do not trigger the new-user tasks. Second, complete identity verification before depositing, since rewards will not credit to unverified accounts and OKX voids rewards tied to mismatched KYC data. Third, read the lock-up terms on each reward in the app, because a locked token is exposed to price moves before you can sell it, and its dollar value at release can differ from the value when it was granted.

Finally, plan the exit. Each coin has its own minimum withdrawal amount and network fee, shown on the withdrawal screen, and a small reward can be uneconomical to move on an expensive network. Opening boxes promptly, meeting trade thresholds in single orders, and keeping the account active through the lock-up period are the difference between collecting the reward and watching it expire.