|Brief||OKEx cryptocurrency exchange managed to become a highly popular option for a lot of traders from around the world. In fact, it became the second-largest exchange in terms of trading volume, bested only by Binance itself.|
|Last updated:||Saturday, July 11, 2020 3:00:03PM UTC|
|Volume 24 hours, USD:||1 817 384 842|
General OKEx facts, technical details and general information about OKEx exchange
OKEx cryptocurrency exchange managed to become a highly popular option for a lot of traders from around the world. In fact, it became the second-largest exchange in terms of trading volume, bested only by Binance itself.
Now, in the world of cryptocurrencies, which is marked by regulatory uncertainty, high risk, scams, hacking attacks, controversies, and alike — becoming the second best is not an easy thing to achieve. Still, OKEx did it almost effortlessly.
The exchange was originally from Hong Kong, although it decided to move to a more crypto-friendly area, which is why it followed Binance in moving a large portion of its business to Malta. The country is generally seen as a better fit for blockchain entrepreneurs, businesses, and it is even tax-friendlier than most other regions.
OKEx can offer crypto-to-crypto, as well as fiat-to-crypto trading, which makes it a great entry-level exchange, too. It is not an old exchange, and it was founded back in 2017. Still, it rose through the ranks rather quickly, and while it suffered in 2018's bear market just as any other exchange, OKEx managed to remain near the top and survive the crypto winter.
As 2018 was coming to a close, the exchange decided to try its luck with a new crypto derivative product, thus introducing speculating on Bitcoin's future value to its users.
Apart from that, OKEx claims that it is one of the world's most trusted exchanges, which is a bold statement, considering how many crypto exchanges already fell to hacking attacks. Still, they claim to maintain market stability, and avoid any malicious price manipulations.
Then, back in February of this year, they teamed up with Malta Stock Exchange Holdings' Digital and Fintech arm, MSX. The goal of the partnership is to launch a brand new exchange and support the 'Blockchain island initiative.' It appears that OKEx firmly believes that Malta is becoming a leader when it comes to blockchain and cryptocurrency regulation, and that any help along that way will be greatly beneficial to Malta, as well as to those operating there.
OKEx has a user-friendly interface, and it features several types of fees. This is nothing out of the ordinary, and it has taker and maker fees, as well as fees accompanying deposits and withdrawals. Its trading fees are volume-based.
Its list of supported coins is quite large, and growing all the time. You will find all the major popular coins, as well as others, lesser-known options that the exchange has deemed worthy of adding to the list. As for its security, the exchange is good at keeping customers' details and private keys confidential, and it features 2FA.
The exchange is also restricted in quite a few areas, including Hong Kong and the US.
In the end, it is not difficult to understand why OKEx is so popular among traders. It is considered safe, it did not have any major incidents, and it is successful enough that it is keeping Binance on its toes. Best of all, it has moved to a regulation-friendly region, so there is no danger of being randomly shut down by the government.
Based on its features and other aspects, OKEx does inspire trust, and being silver to Binance's gold is a pretty good place to be in today's crypto world.
|OKEx volume change 24 hours||-22.04%|
|Exchange||Volume change, 24h|