How to Choose an Exchange You Can Trust — Here Is My Way

DYOR or Do Your Own Research

First of all, you have to DYOR about the exchange background. OKEx Exchange is actually one of the top-ten cryptocurrency exchanges in the world according to daily volume. They do approximately $1.68 million in exchanges throughout the course of a single day. Plus, they have everything you need all in one, including crypto-to-fiat trading, wallet options and futures trading. Those are all things you would normally need to reach out to different services to combine, but you can get all of it and more with this one exchange. That makes things a whole lot easier for you to get started and to carry out all of your processes.

Security, Volume, Trading Options

So, what are the top features of this trading platform? Well, one of them is that they have a great track record when it comes to their security. They haven’t had any major incidents and that means your money should be plenty safe here. Another aspect is their high trade volume. Since there’s a whole lot going on that’s going to give you a lot more options when it comes to your own trading. You’ll definitely enjoy the fact that there’s plenty of potential and that you can actually get a whole lot of different options each time you make a trade.

Trading Pairs and Payment Options

On OKEx you are able to buy crypto, including converting over 30 different types of local currencies into crypto. And it only takes a few minutes to do it. There are even options to use your favorite payment method or credit card, including Visa and Mastercard. Or there are certified merchants that will take care of the transaction process for you. If you want to get the best price you can take a look at the comparison chart to figure out what your best options are.

Training, Tools and Support

For those who are just getting started and those who are better acquainted with crypto-trading as well, there are also plenty of resources available to help you improve your skills. In fact, there’s training and tools that will help you understand bitcoin, crypto mining, crypto holdings and wallet management. Whether you’re looking for wallet information, pool information or earnings information, you’re going to have no problem finding all of it directly through OKEx Exchange.

What to Know About Fees

Every trading platform has some type of fees and this one is no different. You get a maker-taker fee schedule here, which is designed to encourage people to place even more orders and keep their accounts even more liquid. What’s really great is that the maker fee is lower than the taker fee. For OKEx it starts at 0.10% for the maker and 0.15% for the taker. This is going to make it a whole lot more profitable for those who want to get started in the trading process.

Safety Services

The safety features of the exchange seem to be quite secure. They have 2FA verification, which means you need two different methods to log into an account. They also offer mobile verification codes for those who want to change their settings or make a withdrawal from an account. Plus there are anti-phishing codes in the emails. Not only that but if there is a bug and anyone finds it there’s a bounty program so you can get rewarded by the company for reporting the vulnerability. This is especially important with potential security problems.

Be Aware

OKEx did suffer a hack in 2017, which affected a single user. The user lost approximately 200 Bitcoins, which were valued at the time around $750,000. According to OKEx this was a result of hacking but not the result of a problem with the exchange. It never did expand to any other users and there was no subsequent hacking of the same users account. There was also a rumor of another hacking in 2019, however, there was never any further report and no users actually came forward to say that they had suffered from the possible hacking.

Overall, What You Need to Know

Overall, there are a lot of benefits to this exchange. First, it seems to have a really good record and some pretty good security. There’s only been the one potential incident at this point. There are also plenty of different trading options including fiat-to-crypto trading that makes it easy for users to get into the platform. On top of that there’s a wallet built right in, and an app, which all make it easy for any users to access their account from anywhere and keep up with their trades. It’s also a fairly broad system that allows for a number of different features and options across the board.

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Marko Vidrih

Most writers waste tremendous words to say nothing. I’m not one of them.