On February 24, 2018, the Dongguan Public Security Bureau officially opened criminal proceedings against OKX for possible «illegal futures trading» or, worse, «fraud». [27] The reliability of a cryptocurrency exchange is the key criterion of choice. Users are advised to pay attention to this factor as there is a risk of fraud in this area. OKEx is a crypto exchange that enjoys great popularity in the UK, but before working on it, many beginners ask: «Is OKEx safe». Analysts of the Merchants` Union prepared a detailed review of the exchange. In this test, you will learn if OKEx is legal in Germany and if it is safe to work with the exchange. Cryptocurrencies are legal in the UK. There are laws in the country that regulate working with digital assets. The laws provide the standards for the use of digital assets as a means of payment, investment tool, their tax regulations, etc.
As a result, traders will have no problem working with cryptocurrencies in the UK. Before you start trading cryptocurrencies, it`s important that you know if cryptocurrencies are legal in your jurisdiction. Otherwise, there could be some problems. Many countries have already passed laws regulating digital assets, although they are still outside the law in a number of jurisdictions. All information on this site is published «as is» and for informational purposes only. The information is not intended for financial, investment, tax, legal, accounting or any other nature negotiation or advice. Before you start trading, please contact your broker or a financial advisor to check prices, evaluate forecasts or the opinion of the author of the article. Our company is not an investment advisor, financial advisor or dealer for securities transactions. No information should be construed as investment advice, a recommendation or an offer by our company to buy, hold or sell securities or financial products.
OKEx also has a mining pool with 11 crypto assets. It is a proof-of-work (PoW) mining protocol that supports popular digital assets such as BTC, BCH, BSV (SHA256), ETH (Ethash), LTC (Scrypt), DASH (X11) and many more. The fact that a crypto exchange does not have a license does not mean that traders in the UK will have any problems when working with it. Cryptocurrency exchanges are not allowed in many countries, while there are many reputable exchanges. Evaluate the information available on the exchange and check its reputation. Another option is to use peer-to-peer (P2P) trading. This option allows you to choose the best deals on this cryptocurrency from a list of sellers. Note that there is a timeline for bank transfer when choosing a specific seller you want to buy from.
Once you have made the transfer, select the «I made the transfer» button to have your funds credited to your account. Other investors include well-known Chinese venture capital firms such as Ceyuan Ventures, Longling Capital and Giant Network Group. OKEx is one of the top twenty crypto exchanges in the world where you can trade cryptocurrencies, according to Coinmarketcap. It claims to process a daily turnover of $1.5 billion solely from its Bitcoin futures trading product. However, critics say that this number may be exaggerated. In June 2021, keywords such as «OKEx», «Binance» and «Huobi» were blocked by Baidu, Weibo and other Chinese internet platforms. [20] • The exchange uses cold and hot wallets with a high level of security. As mentioned earlier, OKEx allows trading of various parts. The most popular options are: Investors must use the OKB token to make a claim on the project. The staked funds are blocked for a certain period of time (say 14 days) before being released into the user`s spot wallet with the newly minted token of the crypto project. Expected returns vary depending on the supply of the crypto project.
The trading platform is also fast and gives access to real-time quotes and allows you to place orders in fractions of a second. The OKex exchange offers the most commonly used standard crypto-to-crypto trading for cryptocurrency exchanges as well as fiat-crypto-to-crypto trading. At present, unfortunately, the Chinese yuan is the only supported fiat currency. The exchange supports over a hundred cryptocurrencies and tokens with the regular addition of new options. The company was founded in 2017 by Star Xu and is headquartered in Seychelles. [5] To buy your first cryptocurrency, you must click on the «Buy/Sell» icon in the top left corner, where you will be redirected to the next page. Choose the cryptocurrency you want to buy, the fiat you want to pay with, and how much you want to invest. It takes about 1-15 minutes for your money to be credited to your account. With the fact that eToro offers its own investment portfolio called CopyPortfolio, this can be a great way to better diversify your investments across different sectors and regions without much effort. OKEx is currently based in Seychelles. The exchange also has offices in Hong Kong, Malta and Belize.
Kraken has gained popularity since its launch in 2011 thanks to its transparent team. The CEO has often repeated the popular phrase «Not your keys, not your crypto» and actively encourages self-guarding. This has helped the platform reach over 6 million users, trading over 200 different coins, making it one of the best crypto exchanges.