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Francis D. photo
Philippines
1 Level
14 Review
16 Karma

Review on OKEx by Francis D.

Revainrating 4 out of 5

OKEx, the contender of Binance

I do have traded with Okex many times and I do love their new looks when it comes to the sleekiness of the platform. First of all, I do love how their OKB token is like the one where you will be able to have discounts from fees by using the OKB token. However, unlike Binance, the OKB token does not let you have voting power when it comes to the community listing unlike BNB.
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When it comes to the power of decentralization, of course it is a flop because this is a centralized exchange. Not your keys not your coins as always. They do also have academy wherein you could learn the basics of cryptocurrencies as a whole.
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Recently, they also have loans by just adding your crypto as a collateral. They do also have pools but not like Launchpool of Binance wherein you could earn from just staking BNB. Here, when we say Pool, it is mining pool for mining different coins known as Proof-of-Work pools. I saw that they do have OKEX cloud which is like a plugin wherein you could be an exchange using their software and lastly, what I would say that could contend UNISWAP will be the OKEX chain once it launch, their DEX will be cross-chained so more people could jump in here and no need to go exchange hopping.

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Pros
  • Secured
  • Support staff is friendly and attentive
  • Has their own coin
  • Pairs are diverse
  • Will have their own blockchain
  • OKEX chain for cross-chain trades
Cons
  • Centralized
  • The value of coin is slow in growth
  • Marketing is not that strong

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