What is OKEx?
Novice traders often ask: “Where is OKEx located?”. Chinese crypto exchange OKEx.com is positioned as the “most reliable digital asset exchange”. Since 2014, the platform provides convenient tools for effective trading of both digital and fiat currencies.
OKEx is a favorite among professional traders all over the world: hundreds of trading pairs of tokens and futures allow them to optimize their trading strategy and earn money from trading. This popular Hong Kong exchange serves millions of customers from 100+ countries. OKEx is a regular on all sorts of Tops in terms of trading volume for 24 hours, which is more than $2.7 billion/day. Now, you know an answer to “What is OKEx?”.
According to the OKEx exchange review, one of the main reasons users choose the OKEx platform is a wide range of trading instruments. Each client can easily trade a variety of effective cryptocurrency assets that the exchange supports.
OKEx is a multi-currency exchange that allows users to exchange and speculate with cryptocurrency and fiat money, as well as engage in margin trading of digital asset futures. The OKEx listing contains hundreds of currency pairs that can be traded within a single platform. The most popular crypto money on OKEx now are:
- Bitcoin (BTC/USDT);
- Ethereum (ETH/USDT);
- Bitcoin Cash (BCH/USDT);
- EOS (EOS/USDT);
- Litecoin (LTC/USDT).
The maximum liquidity on OKEx exchange is shown by the BTC/USDT pair (almost $915 million/day). In April 2019, OKEx added support of three fiat currencies to its platform — the Russian ruble, the Euro, and the Turkish Lira. Before that, only the Chinese yuan was listed on the fiat exchange. According to representatives of the exchange, “the expansion of the listing of fiat assets is dictated by the growing demand for digital assets on a global scale.” At the end of April of the same year, the OKEx crypto exchange released its OKB token. In total, 300 million coins were released to the public network. The remaining 700 million are still blocked.
OKB tokens are intended primarily for a future decentralized exchange: they can be used to pay transaction fees, as well as in decentralized applications based on OKChain. In addition to adding new currency pairs and tokens to the list, the exchange regularly delists several tokens, thereby getting rid of low-liquid assets. For example, in October last year, 58 trading pairs were removed from the list on OKEx, in November — 49. In January 2019, the platform reported removing Bitcoin Gold futures contracts (BTG) due to insufficient liquidity.
You can top up your OKEx account with any cryptocurrency without a commission. For trading activities, OKEx offers a Maker/Taker tariff grid based on the trade turnover for the last 30 days. The Maker/Taker principle implies that the Maker is the one who creates a new order, and the Taker is the user who satisfies the already created order. Specialists of the exchange calculate the trade turnover of each user daily and adjust the commission fees following the table.
Novice traders often ask about OKEx fees. The standard rate for OKEx is 0.15%. The commission in this amount will be charged for trading volume from 0 to 100 BTC per day. If this amount is exceeded, the commission is reduced. Withdrawal fees on OKEx are fixed amounts and depend on the specific currency.