OKEx exchange is a digital currency trading platform, with tools that offer fiat to crypto trading and fiat to fiat exchange. This platform allows both beginners and professionals to trade cryptocurrencies like ETH and LTC safely.
Even though it was established in 2017, OKEx exchange has managed to be among the topmost crypto companies globally. Originally, OKEx was part of a blockchain company called OK Group that was founded in 2013. Moreover, this platform was established from OKCoin, a platform that focuses mainly on buying and selling cryptocurrencies and ICO tokens.In addition, an announcement was made in 2017 by OKEx that it had created the first Bitcoin Cash market. This market allows users to handle their own trade without any intermediaries.
Star Xu, a chinese businessman who founded OKEx, wanted his company to be in China. However, ICO tokens were later banned from China by the government, hence he had to relocate it to Malta. The drastic move to Malta in 2018 was because the country had better and sound rules for blockchain traders. During this time, the platform had already obtained over 800 employees that provided service in over 100countries.
According to CoinMarketCap.com , OKEx is one of the largest international cryptocurrency exchanges in the world. This company claims a daily turnover of $1.5Billion only from Future Trading.
OKex exchange launched its own Utility Cryptocurrency Token in 2018, to help pay for trading fees and other services like API limits. This tokens, commonly known as Proprietary utility tokens, became the biggest trend for crypto exchange. This move was made possible by Binance ICO, a month after launching the tokens. Moreover, OKex is planning to launch its own Ethereum Blockchain platform though no official announcement has been made yet.
Besides trading Bitcoin, this platform has a payment and lending mobile application. They also keep a strong liquidity in the BTC-CNY category.
This platform has two phases. One concentrates on the domestic market while the other phase deals with the international market.
Moreover, it has an algorithmic trading equipment that is more suitable for experienced traders.
OKEX provides a digital asset that supports the future exchange by providing several leverages. It also has a vault, a wallet, and a block explorer.
Benefits of OKEx exchange platform for new traders
⦁ Beginners can easily trade future exchanges.
⦁ Has an SSL encryption.
⦁ It provides high liquidity to both new and old investors
⦁ Its a safe and secure cryptocurrency site.
⦁ Has BTC and LTC options.
⦁ It uses a cold storage system to boost security
For one to trade or exchange currencies, he or she has to register by email or phone number. They can use the website or download the application on their android phones or ios.
⦁ Click SignUp at the topright corner
⦁ Settle for an email or phone number
⦁ Key in your password
⦁ Confirm registration
⦁ Wait for an email or SMS for verification
Users will incur a fee of 0.03% for any new trade, but they will not be charged for finalizing any trade. These fees are often incurred when trading, depositing and withdrawing funds.
Just like other exchange platforms, OKEx exchange is implementing the maker-taker model. In this model, the maker fee is often lower than the taker fee with a percentage ranging from 0.15% to 0.2%. However, some trading tiers depend on the volume of trade, as such, a higher tier means a lower trading fee. A discount is also given to users who trade frequently through the Market Maker Plan.
Types of trading
Users will be able to trade by using four accounts that is, Future, Index, Token and C2C trading.
Users have the advantage of choosing their own delivery period. They will also go through the guide provided on future trading for better understanding.
Users will be able to select the category they want to exchange and trade.For example, users may buy BCH and then they can go to BCH-BTC.
Users have the option to select different choices under Fiat but with different tokens.
Traders are able to trade between Cryptos and Fiat currencies by using their own prices.
In case of any withdrawal, a 0.0005BTC is charged per transaction.
This is below the general charges of withdrawal as the withdrawal fees are 40% lower than the 0.000812BTC of the industry.
OKEx exchange allows Wire and Bank Transfers as a means of depositing funds in US dollars only. A 0.1% of the amount is charged on individual traders while the corporate users are charged nothing.
This platform supports a wide variety of payment methods for purchasing cryptocurrencies. These include:
⦁ Bank transfers
⦁ Visa cards
⦁ Cryptocurrency transfer from a wallet
⦁ WeChat network payments
⦁ Alipay system.
This platform can be easily accessed around the world, however the Bitcoin Futures cannot be accessed in the US. Other countries that cannot access this platform include:
⦁ Hong Kong
⦁ Puerto Rico
⦁ US Virgin Islands
OKEx exchange has tools like mobile verification codes, anti phishing codes and 2 FA verification codes that help in withdrawing and changing settings in emails under OKEx. A bug-bounty program has also been placed to reward any person who discovers any security issues in the exchange.
This platform keeps encrypted private key documents that can easily be retrieved by users and the keyholders; but under tight security. This site ensures that these keys are from different people, and can be used to transfer Bitcoins to an address.
Cryptocurrencies are stored in a cold wallet that ensures the funds are well protected. This storage systems prevent losses just incase hacking occurs.
A 24hour livechat system has been put in place to assist users tackle the problems they face while trading.
Users can use the email support to easily get feedback.
A FAQ section has been placed to help answer any problems regarding a users account.
OKex exchange has a working telephone number, several messaging apps and social media channels as per the users choice
OKEX exchange and trading platform that is available on iOS and Android phones. This exchange provides users with a friendly platform that makes it easy to trade.
Some users believe that there are not enough trading platforms that offer the kind of professionalism that OKEx does.
The best thing about this site is that One can do both spot trading and derivatives trading. It comes with a desktop platform and cryptocurrencies are readily available. Users can trade against BCH without any intermediary like ETH or BTC.
Due to its easy features, It will not take more than a few minutes for a trader to get used to this platform regardless of their trading experience. This platform is great for beginners because it effectively supports the trading of different popular cryptocurrencies.
Since there are no limitations set, this platform is appropriate for experienced investors and new traders. Without any verification, investors can trade up to 1,000 BTC per day.