Opinion on OKEX platform
Presentation of the OKEx cryptocurrency platform
OKEx is a cryptocurrency trading and purchasing platform based in China and registered in Belize. Where some platforms only allow trading cryptocurrencies or purchasing cryptocurrencies, OKEx allows investors to do both! Thanks to this particularity, OKEx positions itself as one of the best platforms for buying and trading cryptocurrencies, and it attracts new traders and investors every day.
Reminder: What is the difference between a cryptocurrency trading platform and a cryptocurrency purchasing platform? See the Tutorial - How to buy and trade cryptocurrencies
On OKEx, traders therefore have the opportunity to invest in more than 150 cryptocurrencies (as of 01/02/2018) and should ultimately be able to invest in all cryptocurrencies, including new cryptocurrencies emerging from ICOs.
Each cryptocurrency (altcoin) can be traded directly for Bitcoin, Bitcoin Cash, Ethereum, or Tether. But traders also have the possibility to transact directly back into fiat (cash). OKEx offers all altcoins against Yuan (CNY) or US Dollars (USD). To return to “fiat” traders are therefore no longer obliged to go back to Tether, or another cryptocurrency replicating a fiduciary currency.
Reminder: Importance of cryptocurrencies replicating fiduciary currencies?
OKEx goes further and futures on major cryptocurrencies to be traded; and therefore the possibility to speculate with leverage of 10 or 20 at the rise or fall of cryptocurrencies.
Other advantages and disadvantages of the OKEx platform
OKEx offers multiple levels of security when connecting to the platform and when carrying out transactions. OKEx analyses the IP address from which you are trying to connect; in case of possible violation, telephone confirmation immediately blocks your access. Every confirmation requires the entry of a code which is received by telephone; not forgetting the possibility of adding "Google two-factor authentication" at different levels.
The transaction fees offered by OKEx are very competitive for active traders; Compared to other cryptocurrency trading platforms, however, the fees are much less competitive for investors who only make a few cryptocurrency transactions.
OKEx applies transaction fees based on a "level” that traders reach based on their trading volumes. Here is the table of fees applied by the OKEx platform by level:
The platform is only translated into English and Chinese, and is worthy of a French translation so that French traders and investors feel more welcome. The same goes for other languages.