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How to work with Okex exchange?

2021/11/25 - 06:58


 

 

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How to work with Okex exchange?

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Okex exchange

Okex exchange is a Chinese-based digital asset exchange. It's a sub-branch of OKCoin that caters to more seasoned digital currency investors. In addition to providing a wide choice of cryptocurrency pairs, OKEx now allows traders to trade directly in and out of fiat currency.

Okex exchange is now the second-largest bitcoin exchange in terms of volume worldwide. OKEx just relocated to Malta, an island known for its cryptocurrency-friendly climate. But the majority of the team remains in Hong Kong.

Head of Operations at Okex exchange Andy Cheung told us that "Our founders are a group of technical specialists from around the globe." 'Bitcoin' was introduced to them in 2011, and they were awestruck by the concept of decentralization." They learned everything available about blockchain technology by immersing themselves in a never-ending stream of books and articles. To modify their entrepreneurial path, they chose to build their first-ever digital asset exchange."

"The launch rapidly drew the notice of several notable venture capital firms, including VenturesLab, which was co-founded by Tim Draper, approaching OKEx for discussions on collaborations. OKEx's current success can be attributed to a series of funding rounds that brought in tens of millions of dollars.

 
What sets the Okex exchange apart from the rest?

In terms of volume, the Okex exchange is one of the world's major cryptocurrency exchanges. As a result, most of its trading pairs have a high level of liquidity. There is a daily volume of over $1 Billion USD at the time of this writing.

OKEx is also noted for its low trading fees, which vary from 0.03% to 0.15%. Compared to other crypto exchanges, this one is a bargain.

In addition, it is one of the few exchanges that offer a completely independent desktop platform. As a result, trading on systems with less memory, such as low- to medium-end hardware, becomes easier. In addition, several monitors are supported by OKEx, making it easier to examine charts and other relevant data.

 

OKEx Cryptocurrency Wallet

A wallet app is required to utilize the exchange platform's native wallet feature. The wallet is fully integrated with the OKEx trading app and supports 36 digital assets and different vaults.

 

Crypto mining pools

Joining a miner pool is another way Okex exchange users can get their feet wet in the crypto mining game.

The hash rate (a series of mathematical steps) of individual miners from across the world is pooled together in a mining pool. Thus, they are all mining at a greater level, increasing their chances of completing a proof of work block. One miner is unlikely to solve the entire block on their own. Pooling is therefore essential.

Each miner in an OKEx mining pool receives a share of block rewards according to how much computer power they contributed to the solution. You can join one of the 11 proof-of-work mining pools offered by OKEx, including Bitcoin, Ethereum, and Litecoin, as well as lessons on how to do so.

 

How to sign up for a new Okex exchange account

How to register an account on the Okex exchange now that you have chosen on the exchange. The straightforward procedure is described in the following steps:

 

Visit the OKEx Website

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The Website

Navigate to the OKEx web page. Make a note of the original webpage address and return to it quickly by bookmarking it. Trading on fake websites has resulted in traders losing money. Because of this, you always have to make sure you're on the official website, which has its unique SSL certificate signed. When you receive an email from a source you don't recognize, don't click any links in it.

 

Complete the registration process

Complete the form by clicking the signup button at the top right of the screen and following the on-screen instructions. In the upper part of your screen on the right, click on signup to complete the process.

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Registration process

When you open the exchange website, the first thing you see: The following screen will appear once you have successfully signed up.

 

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In the Account

When you're in the email's settings menu, simply press the "settings" button while your cursor is over it. You'll need to go back to the security page and find the setting for "Fund Password." Before you may transfer any tokens, you must do this.

 

 Create a Fund Password and deposit money and funds

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Create a Fund Password

Google Authenticator must be paired with your account before you can set up a fund password. Suppose you don't already have the Google Authenticator app installed on your smartphone. In that case, you'll need to download the mentioned app and scan the QR code on the "Bind Google Authenticator" screen on the website to activate it.

In case of losing or breaking the phone, your 2FA password can only be reset using the paraphrase adjacent to this QR code. Offline your computer in a secure location.

The fund password can now be set, and you can continue depositing tokens to your new account. Transferring funds from your deposit wallet (My Wallet) to a trading account (Spot Account) is required after depositing.

You can see all the tokens that have been placed or taken from the exchange in the "My Wallet" area. That coin's wallet will be created and the coins stored inside once you click on it. Your trading or spot accounts will be able to trade after the coin is transferred to them.

 

Placing orders

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Orders

Select "Token Trading" from the main menu to place orders. Choose from the following: USDT, Bitcoin, Ethereum, or the OKB exchange token (OKex's version of Binance's BNB) as your base asset. There, on the left side, you'll notice a list of all of the possible trading pairs. You can use the search box to aid you in finding what you're looking for more quickly.

There are buy and sell tabs in the center of your screen where you may put an order for the trading pair you want to buy or sell (as seen in the image above). Before pressing the button to extract the instruction, set the order type, price, and quantity.

 

The Open Orders and Order History tabs are located at the bottom of the home screen, where you are able to see all of your open and closed orders.

 OKB Token

The Okex exchange offers trading pairs against its official cryptocurrency, OKB, which has been previously stated. On the Ethereum and Bitcoin exchanges, there's a considerable amount of trading volume for the token, which is ERC-20 compliant. Only 600 million of the 1 billion OKB tokens have been allocated to OKEx clients for community building and marketing purposes. Locked up for a period of one to three years are the remaining tokens.

 

Okex exchange is suitable for you If: 

  • You don't live in the United States
  • There is a beginner or an experienced trader or investor in cryptocurrencies.
  • You're searching for a comprehensive set of crypto-based financial and trading services.
  • An exchange with a built-in wallet and native coin is something you'd enjoy.

Good luck with your trades on the Okex exchange platform. Let us know if you've got any questions about this exchange and cryptocurrency signals by commenting below.

 

 

10% discount on transactions by registering through the link below

 *** Register Link ***

 


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