OKCoin Policy Regarding Properly Safeguarding Idle Client Funds

Recently there have been rumors and false allegations regarding OKCoin, and its affiliates, in their use of idle client funds.

We would like to assure all parties, and especially our customers, that we have a strict policy of placing idle client funds into lower-risk banking products for safe-keeping.

We consider the safety and integrity of our client funds as our most important responsibility.

We refute any claims to the contrary as false.

OKEx:+852 5808 5768
http://www.okex.com
August 23, 2017

Beginner’s guide to a crypto to crypto exchange

With recent soaring cryptocurrencies prices and associated hype, many investors are now taking the plunge and buying digital assets. This of course means finding an exchange, in order to convert your fiat currency (money issued by countries) into cryptocurrencies. There are, broadly speaking two major types of exchanges – ones where you are able to exchange fiat currency to crypto currency (F2C) and others with primary motives to exchange from one cryptocurrency to another (C2C). This article will primarily focus on the latter type – the C2C cryptocurrency to cryptocurrency exchange – and the benefits it can offer to investors.

A popular option for investors in this space to obtain their first cryptocurrency is via a F2C exchange where the deposit denominator will be fiat currencies (like USD, EUR etc.) But investors should note that higher fees are typically attached to these conversion transactions. Once an investor has made the conversion however, and are in possession of some sort of cryptocurrency (Bitcoin, Ethereum, etc), they can now move their virtual currency into a C2C exchange.

There are multiple benefits of moving to a C2C exchange.

Benefit 1: Can trade a larger variety of tokens
While many investors have gained familiarity with the more common types of cryptocurrencies, there are less-well-known types of cryptocurrencies which are termed “altcoins.” These can include NEO, Filecoin, Lumen, and many others. C2C exchanges often allow for a wide variety of altcoins, which can be exchanged for Bitcoin, which has historically been the largest exchangeable virtual currency for any altcoin. Additionally, there also exists a market where digital tokens can be traded against Ethereum. The main functional categories of tokens are as follows:

  • A currency, used as a payment system between participants.
  • A digital asset (a digital right – to land ownership, or tomatoes in a warehouse, and similar assets).
  • A means for accounting (number of API-calls, volume of torrent uploads).
  • A share (stake) in a specific start-up.
  • A way of rewarding main players (the best example is bitcoin).
  • A way of preventing attacks (such as commission within the bitcoin network).
    Payment for using a system.

Benefit 2: Opens the gate to crypto derivatives
A number of C2C exchanges also facilitate the sale of derivatives, such as futures on select cryptocurrencies, so that investors can utilize additional financial tools. This is an area that traditional F2C exchanges generally avoid due to their practice of accepting fiat currencies, which financial regulators and authorities then monitor, and often consider securities.

An example of the leverages offered by different exchanges can be seen below:
1

A closer look at the Futures will show a variety of contract terms offered:
2

Benefit 3: Offers token-to-token arbitrage
C2C exchanges can also be used by investors to profit through arbitrage. In such a strategy, investors seek to take profit from systematic inefficiencies, without taking on risk. Arbitraging cryptocurrencies often involves buying a token or currency in an exchange where they are cheap, and then selling that same currency on another exchange where the price is higher. Given that there are still inefficiencies in the pricing of digital assets, it is possible to arbitrage such pricing inefficiencies via C2C exchanges. For example, during the Bitcoin split on Aug. 1, an arbitrageur could have in theory safely profited by buying into the BCC/ BTC pair on one exchange and then selling it or going short (by first borrowing bitcoin and then selling it) on another C2C exchange. In the example stated, a F2C will not be able to offer the diversity of arbitraging that C2C does.

Of course C2C exchanges are not without drawbacks. Some tokens traded on C2Cs are more volatile – and susceptible to ‘pump and dump’ schemes – than the standard tokens offered in F2C with higher liquidity and less probability for manipulation.
In sum, one’s choice of where to invest needs to be made carefully. And remember: never invest, what you can’t afford to lose.

Happy Trading!
~Anonymous Elephant~

OKEx:+852 5808 5768
http://www.okex.com
August 18, 2017

OKEx Launch LTC/BTC, ETH/BTC, ETC/BTC Trading

Dear Users,

OKEx is proud to announce today the historic launch of token-to-token trading on our platform.

From today OKEx will support spot trading in pair-trade currencies. Users are able to trade LTC/BTC, ETH/BTC, ETC/BTC. Furthermore, both deposit and withdrawal functions for LTC, ETH, and ETC are supported.

By enabling token-to-token trading, OKEx is deepening its support of the broad range of cryptocurrencies and giving investors access to the widest range of investment options and alternatives. We have always followed the principles of supporting innovations in cryptocurrency, of providing a wide variety of options and opportunities for our clients, and of delivering security and transparency to our exchange clients. The addition of this token-to-token trading will enable users to further benefit from the rise of the many new types of cryptocurrencies that have emerged in recent years.

Bitcoin and digital currencies have grown from their humble beginnings in 2009 to now encompassing a wide variety of digital assets, with new token launches coming to market continuously. It is worth noting that as recently as November 2013, BTC’s spot price had only just crossed $1000 for the first time. Today that price is over $3000, and the market cap of BTC exceeds $50 billion, with a following of millions of investors across more than a hundred countries.
With the evolution of the cryptocurrency market, OKEx will continue to expand and improve its offering. We thank our users for their support, and we will continue to deliver you the most robust and complete cryptocurrency trading platform.

OKEx:+852 5808 5768
http://www.okex.com
August 14, 2017

OKEx Launch LTC/BTC trading

Dear Users,
OKEx is proud to announce today the historic launch of token-to-token trading on our platform.

On August 12th at 2am (UTC+8), OKEx will launch spot trading in pair-trade currencies.
Users will be able to trade LTC/BTC, and will also support both deposit and withdrawal functions for LTC.

By enabling token-to-token trading, OKEx is deepening its support of the broad range of cryptocurrencies and giving investors access to the widest range of investment options and alternatives. We have always followed the principles of supporting innovations in cryptocurrency, of providing a wide variety of options and opportunities for our clients, and of delivering security and transparency to our exchange clients. The addition of this token-to-token trading will enable users to further benefit from the rise of the many new types of cryptocurrencies that have emerged in recent years.

Bitcoin and digital currencies have grown from their humble beginnings in 2009 to now encompassing a wide variety of digital assets, with new token launches coming to market continuously. It is worth noting that as recently as November 2013, BTC’s spot price had only just crossed $1000 for the first time. Today that price is over $3000, and the market cap of BTC exceeds $50 billion, with a following of millions of investors across more than a hundred countries.

With the evolution of the cryptocurrency market, OKEx will continue to expand and improve its offering. We thank our users for their support, and we will continue to deliver you the most robust and complete cryptocurrency trading platform.

OKEx:+852 5808 5768
http://www.okex.com
August 12st, 2017

OKEx BCC Deposits Available

Subject: OKEx BCC Deposits Available
Date: August 6, 2017
To: All OKEx users

After thorough and comprehensive technical assessment, OKEx has decided to officially launch BCC deposit capabilities.

The following are the click-through instructions to make BCC deposits:
Login OKEx -> Account-> Deposit -> Currency -> Select “BCC Deposit”

It is expected that there will be more BCC blocks created in the near future. OKEx is committed to safeguarding its users’ BCC deposits from 51% attacks and transaction malleability, and to ensure valid user deposits.

OKEx would also like to remind users that they should expect longer wait times for BCC transaction verification, when compared to BTC or LTC deposits, as BCC requires a greater number of nodes to mine and verify the transaction.

OKEx intends to offer BCC withdrawal capabilities at a future date, subject to a review and assessment of BCC technology.

OKEx will continue to improve our products and services, in keeping with our mission to offer a best-in-class trading service for digital assets.

Thank you for your continued support of OKEx.

OKEx BCC / BTC trading is LIVE now!

According to the BCC rules, from the block height of 478558, BTC and BCC will be split into two chains. However, due to the limitation of BCC hash power, we cannot estimate the exact time for the first block to come out. In response to a large number of users’ requests, OKEx has decided to enable BCC / BTC trading on August 1, 23:00 (Beijing time), 2017.

BCC might still possibly be a failure, so its price is unpredictable. We advise users to please trade cautiously.

After the first block comes out, and after extensive technical testing, we will enable BTC and BCC deposits and withdraws.

OKEx will continue to improve our products and strive to provide the best services that our users deserve.

OKEX:+852 5808 5768
http://www.okex.com
August 1st, 2017