OKEx is a general digital asset exchange toneel that offers fiat-to-token trading, token trading and futures trading. Wij will demystify all this vaktaal ter the surplus of this article. For now, imagine how a foreign currency exchange toneel works, but with cryptocurrencies being traded e.g. Bitcoin instead of real-world currency e.g. Euro. The verhoging serves more than 20 million customers ter overheen 100 countries, which is more than the entire population of the Netherlands.
Traditional fiat-to-token trading is the exchange inbetween digital assets e.g. Bitcoin (BTC) and fiat currency e.g. US Dollars (USD). However, OKEx provides a different “Fiat to Token” service – a C2C verhoging.
At their C2C trading, people can exchange their fiat currency to tokens. The feature permits users to postbode advertisements where they state exchange rate for buying or selling tokens. It is a decentralized toneelpodium, on where you make a trade directly with another person.
Token-to-token trading refers to exchanging a digital asset with another digital asset. The same concept of currency pairing applies for pricing LTC with BTC where a LTC/BTC pair emerges. It represents how many BTC is required to buy one LTC, or how many BTC will be received for selling one LTC. For example, according to OKEx’s index on Legitimate Aug, 1LTC=0.0099BTC.
There are presently Four markets available te OKEx’ Token Trading: Bitcoin (BTC), Ether (ETH), U.S Dollar held ter the reserves of the Tether Limited ( USDT) & Bitcoin Specie (BCH) markets. The toneel supports overheen a hundred tokens.
Token trading has several benefits including diminished costs inbetween token exchange, the creation of arbitrage opportunities, staying anonymous while trading and promoting the exchange and circulation of tokens.
Traditional digital asset exchange platforms only opoffering fiat-to-token trading. If one wants to buy ETH with BTC, one would have to sell BTC very first which incurs a toverfee and subsequently buy ETH which incurs another toverfee. This results te the service toverfee being applied twice. Taking this script te a token trading setting, one can buy ETH with BTC directly which saves the user time and fees.
Pricing ter token trading
Similar to traditional fiat-to-token trading, the market prices of token trading are determined by supply and request. When there is a buying pressure aka a loterijlot of people want to buy, the price rises. When there is a selling pressure aka a lotsbestemming of people want to sell, the price drops. For example, if there are more people willing to exchange BTC to LTC ter the market, there will be more request than supply of LTC. Therefore, LTC/BTC price will rise, meaning that buying a LTC would require more BTC.
Launch of the OKB token
OKEx launches a completo utility token “OKB” that issued by OK Blockchain foundation. The available supply of OKB will be one billion tokens, but there will be no ICO or private fundraising. 60% of thesis tokens will be given out to customers for community building and through marketing promotions. Their vision is to build a sharing community on the blockchain infrastructure, permitting every user to participate and contribute to the development of the OKEx toneelpodium.
Listing CUBE (Automóvil) token
OKEx also listed CUBE (Automaat) te February to provide another option for their customers. CUBE is a toneelpodium for securely protecting the network of existing autonomous vehicles with blockchain technology. Imagine you’re ter an autonomous voertuig and the network gets hacked, leaving the hacker to control where the car goes. It’s a pretty scary situation to be ter. CUBE wants to secure the network by using blockchain, deep learning and quantum hash technology so that hacking the car won’t be possible.
With titillating fresh tokens being issued, there is a possibility of making good comebacks from your investment. However, it is significant to note that trading digital assets involves significant risk and can result ter the loss of your invested renta. Before making any token purchases, you should ensure that you fully understand the risks involved and consider your level of practice, investment objectives and seek independent advice if necessary. Wij know this sounds boring, but it’s much better than the stuk of losing big money because you went for it with eyes half closed.
Token Trading Loyalty Program
OKEx launches a Token Trading Loyalty Program on March Nineteen this year with 250 million OKB spil incentives. The program received a excellent response and the packages for phase one and two were fully subscribed within two minutes. Phase three of the Loyalty Program will be open for subscriptions on March 23, .