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OKX UK Knowledge Assessment Quiz Answers

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Available in over 200 countries, it provides spot and derivatives trading.

Users can securely manage their portfolios and buy top cryptocurrencies.

OKX emphasizes security with multi-signature technology and cold wallets.

It also provides passive income through features like Earn, to earn up to 30% APY.

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In this guide, you’ll learn the OKX UK Knowledge Assessment Quiz Answers to comply with the UK Financial Promotions regime.

OKX UK Knowledge Assessment Quiz Answers

Tip: If you’re on a web browser, press CTRL + F and find the question that you’re looking for on the page.

Question: Who is responsible for your trading decisions?

Answer: It is my responsibility.

Question: What is the main risk of OKX holding your cryptoassets in a pooled wallet with other customer assets?

Answer: Your cryptoassets become indistinguishable from other clients’ assets, risking non-recovery upon insolvency.

Question: Are trades in cryptoassets guaranteed to be profitable?

Answer: 3 and 4.

Question: What is a feature of cryptoasset trading?

Answer: If the market is volatile, this means that the market can have big movements up and down.

Question: When the market receives important unexpected news, will it be more likely to:

Answer: Become more volatile as prices react to unexpected news.

Question: Cryptoassets can sometimes be associated with which of the following?

Answer: All of the above.

Question: OKX holds your cryptoassets with other customers’ assets. Were OKX to be insolvent, what would happen to your cryptoassets?

Answer: You may lose some or all of your cryptoassets.

Question: Will you always be able to sell your cryptoassets when you want and for the price you want?

Answer: No. In periods of extreme volatility, there may not always be a buyer for any sell order you place.

Question: OKX cryptoassets are fully regulated in the UK like a bank. True or False?

Answer: False. There are no UK regulatory protections or cover by the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS).

Question: When can you engage the services of Financial Services Compensation Scheme (FSCS) and Financial Ombudsman Service (FOS) in relation to your investment activity on OKX.

Answer: OKX’s products and services are not covered by FOS or FSCS.

Question: Which of the following statements is true?

Answer: Cryptoasset valuations can be highly volatile.

Question: Which of the following statements is true?

Answer: It is safest to diversify your funds among multiple assets.

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About the author

Lim How Wei

Lim How Wei is the founder of followchain.org, with 8+ years of experience in Social Media Marketing and 4+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.

Lim has been quoted and referenced by major publications and media companies like WikiHow, Fast Company, HuffPost, Vice, New York Post, The Conversation, and many others. One of his articles about the gig economy was quoted by Joe Rogan who hosts The Joe Rogan Experience (arguably the most popular podcast in the world), in the This Past Weekend podcast by Theo Von.

In his free time, Lim plays multiple games like Genshin Impact, League of Legends, Counter-Strike, Hearthstone, RuneScape, and many others. He creates guides, walkthroughs, solutions, and more on games that he plays to help other players with their progression.