№ 2 | OKex - Cryptocurrency Exchanger Review CENTRALIZED
Crypto-platform OKEx is a digital fintech service for cryptocurrency traders
OKCoin CEO Star Xu founded OKEx in 2014.
The platform itself started to provide operations in May 2017. It is a subsidiary of the Chinese site OKCoin. There were some reasons that caused appearance of OKEx and the ban on trade in futures for cryptocurrency, which was touched by the OKCoin exchange, was the main one.
For this reason, the administration of OKCoin decided to create a new platform on the territory of another country where crypto-trading is not prohibited. The place of registration OKEx is Belize, despite the fact that its office is actually located in Hong Kong.
OKEx is provided by OKCoin is based on web interfaces and is slightly simplified, to some extent similar to Bitfinex, Binance and Coinbase. You can access it through your web browser or through the Android or iOS application.
Choosing an exchange for trading first of all you should pay attention to its liquidity. At the time of writing, OKEx is on the first position on the market in terms of daily trading volumes.
This platform also has a special built-in API for special type of professional trading.
Just like with some other crypto-exchanges, this cryptocurrency exchange platform has its pros & cons.
Let’s take a look at some of them.
- Simple verification;
- Opportunity for futures-trading;
- Existence of margin trading instruments;
- Massive turnover of crypto per day, increasing the liquidity and providing a significant profit;
- A huge diversity of crypto-pairs;
- A vast diversity of pairs to USDT token.
- OKEx is mainly focusing on the Chinese market;
- There is no referral program;
- There is no price schedules;
- Only the Chinese yuan as fiat money support.