Review on OKEx by Rupanshu Kumar
The OKEx exchange is a leading virtual currency exchange which allows you to…
The OKEx exchange is a leading virtual currency exchange which allows you to buy and sell different virtual currencies. The exchange was actually founded all the way back in 2014 and was backed by millions of dollars in investment from venture capital funds such as Giant Network Group. Currently, OKEx has one of the highest virtual currency exchange volume in the world and is not far away from challenging Binance for the number one spot. This means that some of the virtual currency markets offered by OKEx are the biggest in the world. As the exchange expands its customer base outside of Asia, we do expect the exchange to grow further and exert increasing pressure on Binance for market share.Originally the company was based in Hong Kong. However, in April 2018, the OKEx exchange confirmed that it would be relocating to Malta. The OKEx CEO explained that not only is Malta a block chain friendly country, but there are stricter rules in terms of Anti Money Laundering standards. The exchange has been open in saying that these standards are important to protect their customers and that this has been a key motivation behind the move.
The issue with small exchanges is that the number of sell orders could be very small. This means that if an investor wants to buy even $500 worth of currency, then this could move the price. High liquidity means that investors can buy their chosen coin in one go and at the same price. OKEx has the second highest liquidity in the world and this makes buying virtual currency easy there.
The OKEx exchange has spent its formative years establishing itself in the Asian market. The Total Crypto team is excited to see if the exchange can have the same levels of success in Western and global markets. At the very least, we believe that OKEx is certainly an exchange to watch.
Pros
- Easy registration, good interface and wide variety of coins
Cons
- don't know yet
