Review on OKEx by NHAN LE PHUOC

Name: OKEx
Item: OKEx
Rating: 5

September 14, 2018

OKEX is a cryptocurrency exchange owned by OKCoin, with the company behind…

OKEX is a cryptocurrency exchange owned by OKCoin, with the company behind both of them is based in China and primarily centers on the domestic market. OKEX charges extremely low trading fees when compared to other exchanges. We have not been able to find any unfavorable criticism directed towards OKEx -the company has built up quite a reputation since its formation in 2014 and its user base is claimed to be in excess of 2000,000 active customers.
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Pros

OKEX is a cryptocurrency exchange launched in 2017 by Chinese bitcoin mogul OKCoin. Besides operating bitcoin exchanges, OKCoin has a mobile consumer payment and lending application. They also manage to keep strong liquidity in the CNY/BTC pair. OKCoin maintains two main entities, including one focused on China’s domestic market and another, centered on the international market. Together, the exchanges constitute one of the largest digital assets exchanges in the world regarding overall trading volume.

Cons

OKEX is the more trading-centered version of its mother company, OKCoin. The fact that OKEX is based in China explains its relatively low popularity in the west. This low repute is also connected with the concerns about the actions being taking against the cryptocurrency space by the Chinese financial market regulatory body, as the country recently placed a ban on ICOs. The unique things about this exchange are the stand-alone desktop platform and how Bitcoin and Litecoin futures contracts are readily available on the platform. OKEx announced late in 2017 that it basically invented the original Bitcoin Cash market, which lets users the trade against BCH without any intermediary like ETH or BTC. Given its age, OKEX hasn’t been the target of significant hacks yet. While this brings some confidence, regarding security, it does not prove this will not happen in the future.