What is OKEx?

OKEx is a leading cryptocurrency exchange, with a daily trading volume of more than $1 billion. In addition to regular token trading, OKEx offers a wide range of derivative products, such as futures trading.

OKEx supports a wide range of coins and tokens, including Bitcoin (BTC), Bitcoin Cash (BCC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), EOS (EOS), Decentraland (MANA), Qtum (QTUM), Hshare (HSR), Kyber Network (KNC), IOTA, Centra (CTR), NEO, SONM (SNM), and many others.

The establishment of OKEx

OKEx was founded in 2014 in China by Star Xu. He worked at Yahoo and Alibaba before founding OKEx. He is also the founder of the crypto exchange OKCoin. The exchange was originally traded under the name OKCoin, then changed its name to OKEx in May 2017.

OKEx was born from OKCoin, which is a simpler US cryptocurrency exchange, mainly targeted at professional crypto traders. OKCoin focuses solely on trading of cryptocurrencies (buy and sell) and ICO tokens, while OKEx provides a more sophisticated platform for other financial securities such as point trading, options, derivatives, and non-crypto leveraged trading. OKEx launched its own OKB ‘utility token’ in 2018.

What is OKB token?

OKB is the official token of OKEx and, as mentioned, the OKEx exchange supports trading pairs with their OKB. The token is built on the standard ERC-20 protocol, which can be easily traded across the exchange.

If you use OKB to make trades on the OKEx platform, you can get a discount on trading fees. Holding an OKB also entitles you to voting rights. The more OKB you hold, the more influence your vote carries.

Special characteristics of OKEx

Some exchanges only allow you to trade cryptocurrencies if you already have cryptocurrency. Not with OKEx. You can exchange government-issued money (like Euros) for cryptocurrencies right on the platform.

Diverse pairing options: OKEx offers trading with over 100 types of tokens.

OKEx claims to be the first exchange to offer a “delist” function to get rid of sketchy tokens.

It allows multiple payment options like debit card, credit card, bank transfer, Google Pay, etc.

provides a wide range of cryptocurrency trading solutions, including spot trading, margin trading, DEX trading, futures, options, and perpetual swaps.

The deposit fee is zero, and the withdrawal fee is also low. Depending on the user’s tier based on the monthly trading volume and the number of OKB holdings, the transaction fee on OKEx will vary.

Strengths and weaknesses of the OKEx exchange

Strengths of the OKEx floor

Good customer service: a safe exchange and an experienced team. OKX offers 24/7 phone support to its customers, which is unique to crypto exchanges. It also offers live chat support through its official Telegram channel.

The number of tokens and cryptocurrencies traded on the exchange is a lot.

The easy-to-use interface allows both beginners and more experienced traders to trade cryptocurrencies on the platform.

A transaction fee of only 0.02% is charged.

OKEx Academy offers a great educational piece for beginners.

OKEX.com has not encountered any scam cases and has never been attacked by hackers.

Since OKEX is a branch of OKCoin, one of China’s largest exchanges, the security of users’ accounts as well as the system is very good.

Weaknesses of the OKEx floor

With so many new cryptocurrencies, newcomers to the platform will face many difficulties in choosing and finding suitable trading products.

Many new features can be confusing for users to use.

Closing thoughts

With the achievements that OKEx floor has achieved, along with the management and leadership of a team of experts with many years of industry experience, In addition, OKEx is really a virtual currency trading platform worth experiencing, supporting a variety of different coins with many trading methods suitable for everyone from beginners to experts. professional investors. OKEx is definitely a reputable cryptocurrency exchange that you should choose.

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