Founded in 2017, OKEx is a centralized cryptocurrency exchange based in Seychelles. According to CoinGecko, OKEx is the third largest cryptocurrency broker with nearly $12 billion in trading volume in the last 24 hours. There are 312 coins and 518 trading pairs of cryptocurrencies on the exchange.
New cryptocurrency enthusiasts often find it difficult to navigate the complex world of trading and finance. OKEx strives to make such complex trading methods available to ordinary users by offering a simple interface. During an exclusive Ask Me Everything (AMA) session with Cointelegraph Markets Pro users, OKEx staff discussed trading tools, financial regulation, the OKExChain (OEC) blockchain, meme coins and DeFi offerings on the OKEx platform.
Cointelegraph Markets Pro User: How can anyone benefit from trading bots/API (application programming interface) without programming experience? Does OKEx have fully integrated partnerships?
OKEx staff: TL; DR [Too long, haven’t read], I don’t need any software experience to automate fines trading on OKEx. We make it easy for you to set up a trading bot – it’s built into the OKEx trading panel. You can automate the entire process by selecting the AI option and simply entering the order amount in Tether (USDT), or you can manually set your parameters, including maximum prices and lows, for the asset you want to trade.
So the robot is really a tool for automated trading according to certain criteria. Trading bots can maximize profit potential, especially during times when the market is trading on a range basis. So, with a trading bot like the one we have at OKEx, it would be more profitable for your chosen market to go up (sell), then go down (buy), then up, down, etc., rather than just going up, or even higher. , above. The OKEx trading bot is available for all spot trading pairs, which means you can, for example, buy and sell Ether (ETH) in and out of Bitcoin (BTC). Instructional video for trading robots coming soon! Maybe next week, but that’s a written guide. This is what it looks like in the user interface (UI). You don’t need [have] API/coding experience to implement such a robust and automated strategy.
OKEx Trading Interface | Source: OKEx
Trading Robot Profits and Loss | Source: OKEx
CT Markets Pro User: Do you think crypto ban in India will affect cryptocurrency?
OKEx Staff: I think the regulator in India would like a more comprehensive framework to regulate cryptocurrency, not ban it. The story told us that when cryptocurrency is allowed and regulated – it can be stronger. The Indian ban is not likely to have a significant impact on the market. Over the past two years, the cryptocurrency has become very resilient to such news.
CT Markets Pro user: Cryptocurrency has a fairly high demo rate (volatility). Do you use the same financial model (like Black Scholes) that stocks use to price crypto derivatives?
OKEx Staff: Our options market uses the Black-Scholes model to calculate the brand price (the fair value of a particular contract). To manage risk, we use the SPAN scenario stress test (eg CME) to calculate the maximum loss for a client’s portfolio.
CT Markets Pro user: I recently heard about some developments with OKExChain. What’s going on with this?
OKEx staff: Yes, the rumors are true! [Sales Network] It’s called the OEC. The mainnet was launched this summer. A little bit about the OEC: There is a public EVM-compatible blockchain that uses the Cosmos/Tendermint architecture. OKEx has been quietly developing the OEC for several years to make it as robust as possible and to solve the blockchain trilemma. Unlike the Ethereum clone, it is built from the ground up. For more details about the OEC you can read this, but it is not easy.
CT Markets Pro User: What is the OKEx DeFi Hub? What products and services are offered and what are the betting opportunities?
OKEx Staff: DeFi is the new system at OKEx. You can switch between Sharing and DeFi modes on okex.com or in the app. Basically, it’s like a bridge between the worlds of CeFi and DeFi – OKEx brings you DeFi in one consistent interface. First of all, you don’t need to have an OKEx account to use DeFi mode. You can connect to your own Web 3.0 wallet, you can track wallets and see all your DeFi assets in one place.