Review on OKEx by Joseph Bello
Exploring One Of The Most Popular Exchanges
The exchange platforms presently have their mobile version compatible applications and can also be accessed via a browser, the use of PCs is also allowed and this alone would make it virtually impossible for any traders to access their services. In my course of reviewing exchanges, I got to discover that exchanges with this feature (that is, the characteristic of having both mobile and desktop applications available) trends to have or boast of millions of users in hundreds of countries. One of such exchange company is the OKex. Speaking about this exchange platform would be incomplete without stating it's place in the global market. The OKex tends to be rated amongst the top ten when it comes to liquidity and trading volume. Their services can be best recommended to well experienced and developed traders as they offer modern trading services. Although new traders can use it, but it best fits or suits those experienced in the field.
The platform in details: The OKex is an Asian platform that trades both cryptocurrencies (like Bitcoin, Ethereum and over a hundred many others) and fiats (like the Chinese Yuan, the United States Dollars, Euros and tens of other fiats). They seem really good when it comes to the number of currencies they accept (both virtual and real). Just as one would expect good things from a company that uses modern technologies, that is exactly what the OKex offers traders when it comes to their interface. I find their interface beautiful and easy to understand (not minding these facts,I would still recommend it to experienced traders). I never had much problem in navigating their interface as I've been a little experienced in the blockchain technology. I had their mobile application downloaded which is compatible with my Android device. They also have their mobile application for iPhone devices and desktop. They've been able to show how modernized they are in their trading services as they have both futures and margin trading, which I really enjoyed in the course of using their service.
The security of an exchange is also important and that's why the OKex stores their users funds in a cold storage. This can be classified as an advantage to them because cold storages are known to be free from hacker's attacks. It also uses multi-signature as a means of security. It is also worthy of mentioning that the exchange platform has lived and strived without any past record of a hack ever since it's creation in 2014 although they had some security issues in the year 2017 which can be attributed to users carelessness and not the company's mismanagement. I think their record should be considered free from hacks.
The exchange platform charges a fee for the execution of every trade. This is usually refered to as the trading fee and is charged by the exchange platform. Although the industry has an average of 0.25%, most companies doesn't charge exactly that amount. In the course of using the platform, I really got confused about the trading fee as I am not too sure of the exact fee they charge. I got to know from my referee that he pays 0.15% as a maker and the taker 0.1% but in the course of using it, I discovered that makers pay 0.15% but takers pay 0.2% but, not minding these differences, I still consider their trading fees cheap and affordable.
ο»Ώ
Pros
- The exchange platform accepts both cryptocurrencies and fiats
- Due to it's age in the industry, I think it has gained enough experience as to how things work
- They use modern technologies as I've experienced in their margin and futures trading
- Stores funds on a cold storage
- They have their own token, OKB
- Support system can be contacted via social media, email or phone call
- Their services are available via desktop or mobile devices
Cons
- There has been recent complaints about their support team, although I haven't experienced such
New products
Comments (1)
January 16, 2021
The OKEX is fine nevertheless the long status wthout withdrawal. It was quite compensated with the Happy Friday which is quite rewarding program. The FREE BTC feature is always nice and feels like a real mining.
