OKEx allows multiple types of trading options like spot trading, margin trading, futures trading pairs, options, DEXs, or perpetual swaps. OKEx was born out of its sister company OKCoin which is a simpler crypto exchange USA that mainly targeted professional crypto traders. OKCoin is a simpler exchange platform that offers buying and selling of cryptocurrencies, trading, staking, and access to DeFi projects and initial coin offerings . However, it doesn’t offer the complete range of services that OKEx does. This is unfortunate, as OKEx is one of few exchanges that offer such a wide selection of tokens and crypto mining options. Shares a founder with the OKCoin exchange in Chinese investor Star Xu. OKEx is focused on professional traders, offering futures and derivatives products as well as trading markets for dozens of digital assets.
- Overall, OKEx has notably low fees, which compare favourably to most other leading exchanges.
- In summary, OKEx has quite competitive fees, and thus is worth to be considered, specially when looking to invest in low market cap altcoins.
- Rising institutional and corporate demand for BTC has also helped Ethereum and the rest of the crypto market as cryptocurrencies become a more normalized vehicle for investment.
- This is significantly low compared to the global industry average of 0.20%-0.25%.
- DCXfutures will allow for up to 15x leverage trading on a host of leading digital assets futures, including BTC, ETH, XRP, BCH, LTC, EOS, ADA, and TRX.
- With over 20 million traders in more than 200 countries, we are the most trusted cryptocurrency marketplace in the world to buy BTC, ETH, USDT, XRP and many more digital assets.
Tor Constantino is a former journalist and consultant and a current corporate communications executive and business writer. Since 2017, he has also written about cryptocurrencies, blockchain, and crypto’s potential to revolutionize finance.
About Okex Exchange
Personally, I think that Web 3.0/digital identity/metaverse projects are undervalued compared to where they will be in a few years. We talked a lot about this with some great guests on last week’s episode of our podcast. The commission has made similar allegations against Bybit, crypto exchange KuCoin and Polo Digital Assets. OKEx is expanding its decentralized finance footprint with a DeFi Hub and a marketplace for creating and selling NFTs. While that can be expected to change in the relatively near future, the fact CNY is the only fiat currency supported on the platform means OKex is still very oriented towards the Chinese market. OKEx does not use an ordinary Transmission Control Protocol/Internet Protocol (TCP/IP), which is the typical method that allows digital computers to communicate over long distances. Instead, this communication is conducted via a special network communication protocol that is a proprietary, partially offline service that prevents an online attack.
Diversify your crypto portfolio and build long-term wealth with advanced finance tools for Bitcoin and cryptocurrency borrowing or lending. OKEx has extremely diverse funding options, covering numerous fiat currencies and payment channels. Many of its rivals only accept a couple of fiat currencies via a few payment methods. Just recently, the National e-Governance Division , under the ministry of electronics and information technology , submitted a draft national strategy on blockchain for stakeholder comments. The draft suggested that the Reserve Bank of India should release a Central Bank Digital INR administered over a public permissioned blockchain and supporting decentralised applications.
Meanwhile, Bithumb’s shareholders have continued to push for the sale of its crypto exchange operations as the new legislation looms. The exchange itself is full of features and displays very impressive volume numbers, attracting incredible amounts of volume for many trading pairs, often beating the rest of the market. However, there are several reports of much of the volume being simply wash trading — orchestrated by the exchange to attract actual traders to the platform. Mingxing Xu, also known as Star Xu, was reportedly being questioned by police, Chinese news agency Caixin reported today. The news from Caixin came shortly after OKEx issued an “Announcement on Suspension of Withdrawals” of crypto assets on its platform, meaning no one could get their money out. OKex also offers futures trading for Bitcoin, Ethereum and EOS with weekly, bi-weekly and monthly contracts available.
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“Up until now we’ve provided most of our services with fiat on-ramps, but forming a bank partnership (for real-name accounts) is realistically out of reach,” said the spokesperson. MicroStrategy’s purchase of 7,002 BTC might have helped boost Bitcoin price on Nov. 3, but derivatives data also shows that pro traders are becoming more bullish. For VIP users, their fees are determined by different criteria, focusing instead on their trading volume over the last 30 days. OKEx also has a unique loyalty program that rewards regular use of its mobile app. Every day, five new “learning missions” are posted to the app, which require watching a video or reading an article. The completion of each task rewards the user with 50 Satoshis; each Satoshi is equal to roughly 100 millionth of a full Bitcoin.
But growing institutional interest in Ethereum exposure, especially since the introduction of CME ETH futures in February, has caused the second-ranked crypto asset to catch up and go for the throne. Stock market woes intensified last week with the major indexes breaking key levels. These royalty fees are then paid out to an NFT creator in every subsequent transaction on the marketplace’s secondary market.
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Okcoin made headlines in 2014 and 2015 because of a controversy related to bitcoin.com, a domain it managed between 2014 and 2015. In May 2015, the exchange made public its ongoing dispute over the domain name and management rights thereof with Roger Ver , the well-known Bitcoin proponent and investor. The market also suffered setbacks after federal authorities shut down trading after Black Wednesday in May 2021, which saw one of the largest sell-offs in the market. Cryptoquant data shows on November 25, the exchange’s 101,583 BTC reserves dropped to roughly 98k by December 4, 2020.
OKEx is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology. OKEx provides hundreds of token & futures trading pairs to help traders to optimize their strategy. OKEx is a Malta based world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.
Okex Advanced Financial Services
Feedback on support levels is mixed with some complaints online around slow response rates or failure to resolve problems. Generally, it would appear that the exchange is quite inflexible in its systems and approach but users who understand this and act accordingly report few problems. OKEx is one of the most trusted cryptocurrency exchange apps in the world to buy Bitcoin , Ethereum , USDT, Ripple XRP and many more digital assets. Decentralized finance, or DeFi, is one of the fastest growing areas of smart contracts and blockchains. This is where users who provide liquidity to a decentralized protocol can passively earn its tokens in exchange. The return from liquidity mining can be much higher than that of staking.
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— OKEx (@OKEx) December 1, 2021
OKEx is a world-leading cryptocurrency and Bitcoin exchange that provides hundreds of trading pairs for spot and derivatives. We are the leader among cryptocurrency exchanges, with daily trading volume and open interest of Bitcoin futures reaching $1.65 billion and $1.1 billion, respectively.
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Statistics from the web portal Bituniverse, which displays an “Exchange Transparent Balance Rank,” shows Okex is currently the fifth-largest crypto exchange in terms of assets held in reserves. Money can be withdrawn by the traders any time they wish to, by filling a withdrawal form and paying the required withdrawal fees. The minimum amount required to fund a trader’s account and begin trading is 10 USDT or any other crypto assets of an equivalent amount. Users should create a strong password because these are the credentials that they will need every time they log into their accounts on OKEx.
The ratio between the two represents the ongoing battle between the two for cryptocurrency market share. Trade over a hundred types of tokens including Bitcoin, Ethereum & Litecoin with leverage options. “We’re also thrilled to launch DeFi Dashboard to bring much-needed improvements to users’ visualizations of their cryptocurrency portfolios,” he added. Cryptocurrency exchange OKEx has launched a new platform that will enable users to mint, store and trade NFTs. View OKEx exchange statistics and info, such as trading volume, market share and rank. According to data by Glassnode, a total of 10,000 BTC (around $113 million) was withdrawn in two large batches in the past 48 hours. Coinbase Cloud announced Thursday that is has $30 billion worth of crypto assets staked on its platform as of November 2021.
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OKEx provides simple and complex trading tools and, if you’re interested, an on-ramp into proof-of-work crypto mining and DeFi liquidity mining. Our diverse product offerings and ecosystem provide advanced financial services to millions of users in over 200 countries.
- But unlike centralized exchanges, such as stock exchanges, cryptocurrencies trade on crypto-specific exchanges.
- OKEx provides interest-bearing staking accounts for more than 100 different tokens and projects.
- Crypto exchange Binance also operates an NFT marketplace, but it doesn’t seem to have gained much traction compared to popular NFT platforms like OpenSea and Rarible.
- Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation.
- The trading bot on OKEx is available for all spot trading pairs, which means you can buy and sell Ether , in and out of Bitcoin , for example.
- They do not reflect any official governmental approval or regulatory compliance.
What do you think about all the withdrawal action stemming from the crypto exchange Okex? Let us know what you think about this subject in the comments section below.
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As a result, the platform halted trading for its local customers in 2013 and again in 2017. The cryptocurrency market gained prominence following the 2009 launch of Bitcoin, one of the world’s most popular and widely traded digital currencies. But unlike centralized exchanges, such as stock exchanges, cryptocurrencies trade on crypto-specific exchanges.
Does OKEx support Dogecoin?
Dogecoin is just one of the hundreds of digital assets available on OKEx. If you don’t already have an account, sign up now and start trading DOGE. … Trade DOGE using different order types and other advanced features.
In late March of 2018, OKEx’s trading platform experienced a rapid fall in the bitcoin price, which fell by almost $2,000 more than the prices on other exchanges. OKEx was accused of price manipulation, but countered those claims, saying that it had no position in the market. Despite the March 2018 turbulence, trading volumes did not fall off appreciably, and OKEx maintained its position as one of the top cryptocurrency exchanges.
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Changpeng Zhao, who goes by CZ, is the founder and CEO of Binance, the largest cryptocurrency exchange in the world.
These have varying interest rates determined by the platform and the token type you’d like to borrow. The exchange platform has a native wallet feature that’s accessible by downloading the wallet app separately. The wallet supports 36 digital assets and multiple vaults and integrates seamlessly with the main OKEx trading app. In June 2018, the platform became one of the largest exchanges to launch and offer a cryptocurrency exchange white label service where applicants must have solid industry experience and $2.5 million in their accounts. It’s important to note that you can’t directly buy or sell most of the smaller altcoins, and will need to trade them via one of the coin-based markets, such as BTC, ETH or OKB. Similarly, other trading markets, such as margin trading, derivatives, and lending markets, are mostly limited to major cryptos.
Alternatively, users may borrow from each other, at customized interest rates and terms, within a system maintained by OKEx. OKEx offers trading on margin, aka leverage, for Tether against Bitcoin and other leading cryptos. Margin trading uses a loan agreement to multiply your effective funds. For example, if you deposit $100 and employ 2x leverage, you will gain double the profits if price moves your way.
The growth of DeFi has become the standout story in cryptocurrency circles in recent months, making it impossible for industry incumbents like centralized exchanges to ignore their emerging decentralized competitors. The protocol allows users to gain exposure to assets without actually holding them, reducing friction for transfers and improving censorship resistance. Decentralized finance tokens are making their way to centralized exchanges, blurring the lines between competing ideologies in the world of crypto. Synthetix’ SNX token has been listed for trading on the OKEx crypto exchange. An initial coin offering is an unregulated means by which funds are raised for a new cryptocurrency venture. Skycoin operates as an ecosystem of blockchain technology that is powered by its native SKY cryptocurrency and the Obelisk consensus algorithm.
Author: Chaim Gartenberg