What's good about OEX is that the users are allowed to make deposits via credit cards, and that the platform admits traders from the United States, which isn't common among cryptocurrency exchanges, especially the ones that operate in China. The trading panel is okay - intuitive and well-designed. However, the high trading fees are the reason why I gave preference to another platform: 0,2% might be the industry standard, but I know plenty of exchanges where the fees are no higher than 0,1%.
October 21, 2021
The OKex exchange offers the standard crypto-to-crypto trading most common for cryptocurrency exchanges as well as fiat to cryptocurrency trading. For now, unfortunately, Chinese Yuan is the only fiat currency supported. The exchange supports well over a hundred cryptocurrencies and tokens with the regular addition of new options. Margin trading is also provided on the platform and the maximum 20:1 leverage available is the highest of any cryptocurrencies exchanged, or CFDs broker. Due to their price volatility, margin trading is generally limited to 20:1 in cryptocurrencies markets. OKex also offers futures trading for Bitcoin, Ethereum and EOS with weekly, bi-weekly and monthly contracts available. Leveraged margin trading is also available for futures contracts. A recent addition to the exchange’s suite of additional functionalities has been the addition of algorithmic trading tools.
October 20, 2021
I have a soft spot for exotic altcoins because it is kind of similar to digging diamonds out of the dirt, and the crypto market is full of dirt and has very little diamonds, which makes this process even more exciting. BitMax is a perfect spot for such discoveries because it has literally a ton of exotic coins, with new ones being added on a regular basis. That is why I keep my account on BitMax, awaiting for some coins to pump.
October 19, 2021
The Asian crypto exchanges never cease to amuse me. There is always something happening there, and this "something" is usually not great for people who trade on these platforms. In one of the latest developments, IDAX stopped all deposits and withdrawals after its CEO Lei Guorong went missing. I mean, I feel sorry for the guy and hope that he will turn out okay, but I can also imagine the frustration of traders who can't take their money out.
October 18, 2021
Typically, outsized orders, when seen by other traders will cause the market to move unfavorably, making it more difficult to fill the order at the desired price. This unfavorable price movement may be avoided in a dark pool. Finally, Kraken also provides a staking service that allows users to earn a return on assets that would be otherwise held and unused by its users.
October 15, 2021
With 68 million verified users and 8.8 million monthly active users as of Q2 2021, Coinbase’s entry into the NFT industry could provide competition for established marketplaces like OpenSea. Major crypto exchange Coinbase has announced that it will be opening a waitlist for a nonfungible marketplace it will launch later this year. In a Tuesday blog post, Coinbase vice president of product and ecosystem Sanchan Saxena said the nonfungible token, or NFT, marketplace would allow its users to mint, purchase, discover and showcase Ethereum-based tokens. According to Saxena, the offering will allow creators to maintain control of their artwork “through decentralized contracts and metadata transparency,” with all NFTs on-chain. The Coinbase announcement comes following crypto exchange FTX and its United States-based subsidiary introducing a marketplace wherein users are able to trade NFTs cross-chain through the Ethereum and Solana blockchains. Binance, the world’s largest crypto exchange, entered the NFT market in June by launching a marketplace aimed at minimizing transaction costs. With 68 million verified users and 8.8 million monthly active users as of Q2 2021, Coinbase’s entry into the NFT industry could provide competition for established marketplaces like OpenSea and Rarible. OpenSea’s head of product Nate Chastain is facing criticism for using burner wallets to purchase NFTs on the platform so that the artwork could receive more attention on the website’s front page. The platform mainly uses Ethereum, which dominates sales in the NFT market. According to data from DappRadar, the total transaction volume on OpenSea was $8.7 billion at the time of publication, making it the largest of the NFT marketplaces. NFT sales through the Pokemon-inspired Axie Infinity game came in second at $2.5 billion.
October 14, 2021
Almost 1.1M people have already signed up for Coinbase NFT waitlist. Sanchan Saxena, the Vice President of product at Coinbase said yesterday that the “insane” amount of traffic from signing up to waitlist temporarily broke the site. There have already been more than 1 million sign-ups for Coinbase’s NFT platform since the waitlist went live on Oct.12. Coinbase opened up the waitlist via a blog post announcing its upcoming NFT platform which is slated to launch later this year. The platform dubbed “Coinbase NFT” will initially support the Ethereum-based ERC-721 and ERC-1155 token standards, with plans to expand support to other blockchains in the future. At the time of writing, there are almost 1.1 million people waiting for early access to the NFT platform. Sanchan Saxena, the Vice President of product at Coinbase tweeted that the “insane” amount of traffic for the waitlist temporarily broke the site. If Coinbase’s user base is anything to go by — around 68 million verified users and 8.8 million monthly active users as of Q2 2021 — the NFT platform could soon provide some serious competition to giants such as OpenSea. According to data from DappRadar, OpenSea has a rolling 30 day average of 260,000 active users who have conducted a combined total of 2.49 million transactions over the past month. According to the fine print, the Coinbase NFT platform will initially be available to U.S. customers over the age of 18 before being rolled out to international markets in the future. Coinbase’s plunge into the NFT sector comes after competing crypto exchanges FTX and Binance both launched their own NFT marketplaces. Binance NFT opened its doors in June, with the platform aiming to provide low transaction costs, while FTX and FTX.US launched NFT platforms with limited functionality last month. Cointelegraph reported earlier this week that FTX.US’s NFT marketplace had expanded support to the Solana Blockchain.
October 13, 2021
Binance to launch $1B fund to develop BSC ecosystem. The announcement stated that the program is the largest ever announced in the crypto space. The Binance cryptocurrency exchange has announced a $1 billion accelerator fund to expand the capabilities of the Binance Smart Chain ecosystem and advance mainstream adoption across the financial technology sector. The exchange showcased the eight-figure fund in a tiered development model across four specialist areas: Talent Development, Liquidity Incentive Program, Builder Program and Investment & Incubation Program. The announcement suggested that they will allocate $100M, $100M, $300M and $500M to each segment, respectively. The largest benefactor of the pot, the investment & incubation program, will focus on multi-chain expansion of the already burgeoning areas of the technological sphere. This includes various metaverses, gaming, virtual reality and artificial intelligence. Maverick founder of Binance, Changpeng Zhao — otherwise known as CZ on Twitter — shared a simple, yet effective perspective on the news. In the statement, the platform outlined high expectations for the advancement of interoperability between traditional and Web 3.0 infrastructures. “With collaborations from industry-leading organizations, the investment fund will target scaling blockchain technology for real-life use cases and will bridge the gap between crypto-blockchain and the current technical-financial sectors.” Binance Smart Chain was introduced to the market in September 2020 as a foundational launchpad to foster the development of decentralized applications, or dApps, compatible with the Ethereum blockchain through the Ethereum Virtual Machine. Since inception, the platform has grown in stature to service in excess of 1 million daily active users across a wide range of more than 900 dApps. One of the most notable decentralized exchanges, or DEX’s, built upon BSC is PancakeSwap which currently has a total value locked, or TVL, of 9.8 billion according to data from Defistation. Amid the insidious rise of hacks and breaches in the decentralized finance, or DeFi, space, Binance Smart Chain partnered with blockchain security firm ImmuneFi to offer bug bounties and other reward incentives to ethically-focused whitehat hackers and developers.
October 12, 2021
OEX is an overall good exchange with decent trading fees, and no deposit/withdrawal fees for that matter, but it's a pity that this platform is mostly oriented on Chinese traders. This might create some problems with the efficiency of the support as well as the trading schedule since the Asian market is most active when there's nighttime where I'm from. Nevertheless, it has a good range of the so-called alternative coins, which I trade from time to time.
October 11, 2021
Bithumb does a really good job of rubbing it in your face that the platform has been tailored for the Asian traders. I mean, their mobile application hasn't even been properly localized to the English language, and that absolutely all trading pairs are priced in Korean won. I guess it's a good thing that Bithumb it totally under the heel of Korean financial regulators, but their negligent attitude towards non-Asian users is repellent.
October 10, 2021
Right now, the crypto industry is entering a very competitive phase that could end up in a classic survival of the fittest. It remains to be seen whether BitForex would be amongst those platforms that would continue working in five years' time, though I currently don't see any prerequisites for this. The management is evidently making some moves in order to keep the platform afloat, but that won't be enough in the long run.
October 8, 2021
Kraken has launched a mobile crypto trading application in a new move to boost industry adoption in the United States. The company announced Wednesday that its new app is now available for most of the United States as well as other countries around the world for both iOS and Android users. The app allows users to trade more than 50 cryptocurrencies, like Bitcoin (BTC) and Ether (ETH), via smartphones. The move follows a rollout of the Kraken mobile app in Europe this January.
October 7, 2021
If EXX wants to progress and keep abreast with other popular cryptocurrency exchanges it should reconsider its policy of only-cryptocurrency deposit option. It should be done to relieve users of the hassle of having to exchange fiat to crypto via a third-party payment service. Besides, it wouldn't hurt EXX to do a better job at localizing their website to the English language. Some of the bits in its interface have been translated ridiculously, while the others have no translation at all.
October 6, 2021
The native token for Bloktopia, BLOK, is set to launch on KuCoin, a leading cryptocurrency exchange. Trading will commence on Oct. 6, 2021, starting at 3:00 pm UTC. The listing will come after all initial DEX offering (IDO) events have been completed on Seedify, Red Kite, Oxbull and Trustpad. CEO Ross Tavakoli said: “We are delighted to be on such a prestigious exchange. The good news is that if people do miss out with one of our launchpad partners, the BLOK token will be immediately available afterwards for them to purchase. BLOK will be important, because it will hold several utilities in Bloktopia and will be required to purchase our revenue-generating NFTs, REBLOK and ADBLOK.” Bloktopia is also announcing today that BLOK will be available on the decentralized exchange (DEX) QuickSwap. Trading will commence on Oct. 6, 2021, starting at 3:00 pm UTC. The listings on QuickSwap and KuCoin come ahead of the launch of the Bloktopia nonfungible token (NFT) land sale portal where BLOK will be required to purchase all REBLOK and ADBLOK NFTs. More news on how to get involved in the NFT sale will be released in the coming days.
October 5, 2021
The exchange also provides access to regular spot trading and supports transfers in fiat and a range of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and a selection of stablecoins. FTX aims to cater for both retail and institutional traders and provides a range of products and services aimed at more dedicated traders. The platform also provides an OTC service for anyone interested in making large crypto purchases, while the mobile app suits anyone who likes to keep up with their accounts while on the go.
October 4, 2021
OEX trading platform was established in 2017 in China. For such a short period of existence, it entered the TOP-50 trading platforms in terms of cryptocurrency trading volume. This is a pretty good result, despite the fact that OEX has only a few dozen currencies for trading.
October 1, 2021
Kraken has urged BATMTwo ATM owners and operators to change the admin QR code for their ATMs to avoid potential attacks. Kraken Security Labs has said that a “large number” of Bitcoin (BTC) ATMs are vulnerable to hacking, as the administrators never changed the default admin QR code. In a Wednesday blog post, Kraken posted research from its Security Labs team, which found that there are “multiple hardware and software vulnerabilities” in the General Bytes BATMTwo ATM range. “Multiple attack vectors were found through the default administrative QR code, the Android operating software, the ATM management system and even the hardware case of the machine,” the post read. Kraken’s security team stated that if a hacker gets their hands on the administrative code, they can essentially “walk up to an ATM and compromise it,” while also highlighting issues with the BATMTwo’s lack of secure boot mechanisms, as well as “critical vulnerabilities” in the ATM’s management system. However, General Bytes has reportedly already alerted ATM owners to the vulnerabilities: “Kraken Security Labs reported the vulnerabilities to General Bytes on April 20, 2021, they released patches to their backend system (CAS) and alerted their customers, but full fixes for some of the issues may still require hardware revisions.”
September 30, 2021
I can't but agree that trading on Chinese cryptocurrency exchanges entails substantial risks for foreign traders. Not need to remind you that their government is as unpredictable as a ricocheting bullet. So, if you feel confident enough to entrust your crypto to a centralized exchange like this, please don't complain if one day you will wake up to a message that your trading account had been blocked for no apparent reason.
September 29, 2021
Coinbase users can choose to deposit paychecks directly to accounts. Customers will have the option to deposit "as much or as little" of their paychecks as they want in the feature rolling out in the next few weeks. Coinbase will soon allow United States businesses to deposit employees’ paychecks directly into accounts at the cryptocurrency exchange. In a Monday blog post, Coinbase senior director of product Prakash Hariramani said the exchange would be offering direct deposits for workers who want to use their paychecks to purchase crypto with no transaction fees. Users can set up direct deposits through a supported payroll company on the Coinbase app, or through a company’s human resources department. Hariramani said users will have the option to deposit “as much or as little” of their paychecks as they want in the feature rolling out in the next few weeks. Coinbase cited “time-consuming and inconvenient” frequent transfers as part of the reason for the service, saying direct deposits would allow users a more efficient and faster way to earn crypto rewards. Coinbase has already partnered with U.S.-based firms including Fortress Investment Group, M31 Capital, Nansen, and SuperRare Labs to roll out direct deposits for “employees throughout the creator economy and financial services” and hinted at more in the coming months. The exchange also announced thatholders of its branded Visa debit card would have the opportunity to earn up to 4% back in crypto rewards. The move comes a week after the exchange said it would not be pursuing its Lend crypto lending program. Coinbase initially said it planned to offer partial returns on deposits of USD Coin (USDC), but later abandoned the program after the Securities and Exchange Commission threatened the company with legal action.
September 28, 2021
In what is presumed as a technical error, popular crypto exchange Bitfinex paid a seismic $23.7 million dollars in a gas fee for a comparatively nominal $100K transaction. Crypto exchange Bitfinex completed a highly consequential transaction on Sept. 27 when sending $100,000 of the stablecoin Tether (USDT) to the layer-2 subsidiary platform DeversiFi. For reasons unknown, the exchange paid 7,676 ETH, equivalent to $23.7 million, marking quite possibly the largest gas fee ever recorded on the Ethereum blockchain. According to blockchain data from EtherScan, the deposit transaction was initiated at 11:10 UTC this morning from Bitfinex’s second-largest wallet, via a second address, to the wallet of DeversiFi. The transaction carried an “erroneously high gas fee”, even though DeversiFi promotes a service to “avoid gas costs and frustration, saving you time and money with every trade or swap.” To put the enormity of this fee into context, consider the fact that the average transaction fee on the Ethereum blockchain currently stands at 0.013 ETH, or $39.96. In addition to this, two weeks ago, $2 billion of BTC was transferred between unknown wallets for an infinitesimal fee of $0.78. DeversiFi revealed that they have launched investigative procedures to determine the most probable cause of the matter, while also adding that: “No customer funds on DeversiFi are at risk and this is an internal issue for DeversiFi to resolve”, as well as that "operations are unaffected.” In response, Bitfinex tweeted that: “In transactions such as these, the fees are shouldered by third party integrations with Bitfinex," suggesting that the exchange will not directly bear the burden of the fee. In June 2020, another gas fee mystery occurred with numerical similarities to the Bitfinex case when three small to medium transactions registered seismic costs, with one 0.55 ETH transfer carrying $2.6 million in fees. At the time, Ethereum co-founder Vitalik Buterin expressed his agreement with the human-error narrative, adding that: “I’m expecting EIP-1559 to greatly reduce the rate of things like this happening by reducing the need for users to try to set fees manually.” However, experts in the field circulated theories of blackmail, fraudulent activity and even money laundering after the last of the three transactions was confirmed as a “malicious attack” when the wallet owner reached out to the mining pool that facilitated the transaction. The owner in this case subsequently received 90% of the lost funds.
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