How do I make money on OKX?

Passive income on a cryptoplatform OKX are several methods making money on cryptocurrencies, including investment services, loans, and decentralized services. The passive income service is accessed from the drop-down menu of the “Finance” tab on the site okx.com. The main ways of passive income include double investments, savings, decentralized projects, steaking.

Double investment

Dual investment involves investing in an asset or two on the OKX exchange and, in theory, allows you to earn on both a fall in the price of an asset and on the rise in the price of the asset.

Profit in this case is fixed, but not guaranteed. The investor can invest in BTC, ETH and USDT. The profit is calculated based on the strike price and the calculated price at the time of the expiration date of the investment. To invest in the project, you need to click on the “Subscribe” button in the line of the selected asset. Calculating profits using the formula offered on OKX is difficult, but it is not necessary. All the investment parameters and the profitability calculator will be shown in the window in the center of the page just before you subscribe.

Savings

Savings is a classic way of earning, understandable also to those who have not dealt with cryptocurrencies. On OKX, profits are generated from margin loans on assets that are invested in savings. Profit percentages can be earned hourly, withdrawals are possible at any time, as well as deposits. The method is positioned by the exchange as low-risk.

On the Passive Income page, you need to click on the Savings banner, go to the service, select an asset, and activate the Subscribe function. A service window will appear in the center of the page, where you will need to enter the required parameters and calculate profitability. But this service has a subsection “Rules”, which details the interest provisions. They should definitely be read.

Flash deals

Flash deals is an earnings on urgent (hot) offers in steaking. Stacking is initially a passive way of earning from coins that are mined using the Proof of Stake (PoS) method. On OKX there is an opportunity to invest in staking for a limited period of time, with high profits. Offers in this section are not always there. To take part in this project you need to follow the announcements of the crypto-exchange.

DeFi

The acronym DeFi stands for decentralized finance projects, that is, based on blockchain and smart contracts. On OKX, the earning opportunities are represented as lending, investing in the DeFi exchange, and stacking. Lending is investing in cryptocurrency platforms Compound and AAVE. By clicking on the Compound banner, the user goes to the page of this project, where he can invest in four cryptocurrencies. When subscribing to the project, the user is given information about the risks of the project. The AAVE project offers only two tokens for investing in credit.

The essence of investing in lending is that assets can be borrowed or lent, under DeFi-protocols, and receive passive income from it. But you have to remember that this is not an OKX project, but third-party platforms, and the exchange only provides the technical ability to invest in them and distribute profits to users. Decentralized exchange in the DeFi section is only one, Sushiswap, an automated market maker. Profits from investing in Sushiswap come as a reward in SUSHI tokens for the investor generating liquidity for this service. This way of investing is quite profitable, but risky. Losses can arise due to the difference in price of the asset in the Sushiswap pool and outside of it.

Steaking

In contrast to the Flash deals project, the DeFi section offers unlimited steaking investments on five platforms. The advantages of steaking are the stability of the profits, although they are usually small. To participate in steaking, you need to choose a platform from the list, go to the service, and connect to the steking of the offered cryptocurrency.

Active earnings

The main ways to actively earn money on the OKX platform include: conversion, basic trading (spot and options), margin trading. Switching to these types of trading is done through the “Trades” tab. Conversion is the simplest type of trading. On the “Convert” page there is an exchange service with only two lines. In the upper line, you enter the currency you plan to pay, and in the lower line, you enter the currency you plan to receive. Clicking the “Convert” button completes the exchange process.

Spot and margin trading are complicated types of earning. Trading is done in trading terminals and requires special knowledge: the ability to read the trend graph, use indicators and other tools, navigate the order book and so on. Theoretical knowledge, which can be found in the OKX “Academy” section, must first be tested in demo-mode.