What is OKEx exchange?  Overview of OKEx exchange and complete guide to OKEx

What is OKEx exchange? Overview of OKEx exchange and complete guide to OKEx


2021-03-22 20:25:28

OKEx exchange overview

What is OKEx exchange?

OKEx exchange is a cryptocurrency exchange major provides financial services to global traders using Blockchain technology and is based in Hong Kong, the mecca of exchanges and many crypto projects. OKEx was founded in 2014 and is invested millions of dollars from venture capital funds such as Giant Network Group, Longling Capital, Ceyuan Ventures, Qianhe Capital Management, eLong Inc and VenturesLab (co-founded by Tim Draper).

The exchange was officially launched by bitcoin giant OKCoin.com (just like GDAX is owned by Coinbase). OKCoin stopped buying and selling futures contracts since May 30, 2017 and the transactions were changed to OKEx. Nearly OKCoin’s interface and technologies are transferred through OKEX.

OKEx floor is born for concerns about ICO bans and regulation of Chinese exchanges in the cryptocurrency sector. The API was introduced to users for the first time on June 7, 2017. OKEx initially focused on serving the Asian market, and has since expanded to serve customers in more than 100 different countries.

OKCoin will focus mainly on trading cryptocurrencies with fiat money, and customers who want to buy and sell futures contracts (of Bitcoin and Litecoin) will be transferred to the OKEx exchange.

Currently, according to CoinMarketCap statistics OKEx exchange is ranked 2nd in terms of total 24-hour trading volume (approximately over $ 500 million with the largest volume trading pair BTC / USDT).

OKEx features and transaction fees

OKEx exchange offers its users three types of transactions:

Fiat to Token (Transactions between fiat and cryptocurrencies): No fees are charged since February 1, 2018

Token Trading (transactions between cryptocurrencies): Charge -0.1% of the maker fee and 0.1% of the taker fee, applicable to all trading pairs.

Future Trading (trading futures contracts):

Fee Maker Taker Fees Transaction fee
BTC 0.015% 0.015% 0.015%
LTC -0.025% 0.075% 0.05%
ETH / ETC / BCH -0.025% 0.075% 0.05%

The outstanding features of OKEx exchange:

Supports multiple platforms, including web platforms, mobile apps and APIs

  • Safe transaction with high security
  • Support for trading many different cryptocurrencies and tokens (more than 500)
  • Trading futures contracts
  • Comprehensive and easy transactions
  • Relatively low transaction fee from only 0.02%
  • Supports fiat transactions
  • Trade margin helps you optimize your profits with x10 or x20 leverage
  • High liquidity
  • Hedging allows you to lock in your mining profits
  • Supports multiple languages
  • Support chat directly on the website via live chat
  • Well-capitalized with the backing of $ 10 million from investors like Tim Draper, Ceyuan and Mandra Capital

The figure below shows the transaction fees on the OKEx exchange

OKEx’s team

OKEx’s development team is quite reliable. Chris Lee is currently leading the team as CEO, with Tim Byun Chief Risk Officer and Andy Cheung as CEO. Together they share their expertise in crypto trading, micro and macro management as well as absolute operating knowledge. OKEX is invested millions of dollars in venture capital funds such as Giant Network Group, Longling Capital, Ceyuan Ventures, Qianhe Capital Management, eLong Inc and VenturesLab (co-founded by Tim Draper).

The strengths and weaknesses of OKEx exchange

OKEx floor strengths

  • Safe exchange and experienced team.
  • The number of tokens and cryptocurrencies is a lot being traded on the exchange.
  • The exchange has an easy-to-use interface and user-appropriate features.
  • Transaction fees on the floor are quite low

OKEx floor weaknesses

  • Too many novelty cryptocurrencies
  • Many new features can be confusing for users to use

OKEx trading platform manual

Instructions to register an account on the OKEx trading platform

Step 1: Visit the website https://www.okex.me. Then click on the “Sign Up” button in the top right corner of the screen.

OKEx trading platform manual

Step 2: Fill in the required information, including:

Email: Enter your Email

Password: Password consists of 8 characters, both lowercase letters, uppercase letters and numbers to increase security

Confirm password: Re-enter your password

On the second line, you will see the button “Get Code”, where CHK.com uses email login so when you click “Get Code”, go to your gmail mailbox and get the code.

OKEx trading platform manual

Finally, you check the box I have read and agree…. and complete registration by clicking on the command Sign up.

* Note: You can enter mobile phone number instead of Email Address.

OKEx trading platform manual

Step 3: You return to the home page to log into the system by entering Email (or phone number) and password previously registered. Then we can access normally.

Account verification on OKEx

Step 1: Click on your account email and select the Settings section.

Step 2: Under Account, select Verification. Then fill in all the necessary information to update the profile on OKEx. Finally, select Submit to save the information.

Account verification on OKEx buoc 2

Enable 2FA security on OKEx floor

Step 1: Still go to Settings above, but this time select Security. Then, in the Google Authenticator (Google verification) section, select Settings in the right corner of the screen.

Enable 2FA security on OKEx floor

Step 2: Then a window will appear as shown below:

Enable 2FA security on OKEx floor

Conclusion floor OKEx

The above is a complete guide to OKEx exchange, from how to create and verify accounts, security settings, use the exchange to the required actions when you want to request exchange support. Although there are still a lot of cryptocurrencies (including shitcoins), futures trading and this appears to be a major challenge for new users of the exchange. However, OKEx is really a big platform with a lot of ambition and experience and what it has, OKEx has always been a solid platform with the ability to trade a variety of cryptocurrencies yet safe and security for users.

At the time of writing, OKEx is the 2nd largest exchange in the world (behind only Binance) in daily trading volume. If you currently do not know how to choose a “cabinet” exchange, CHK believes that OKEx is not a bad choice.

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