BlockTalks x OKEx Exchange AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with OKEx Exchange, on 1st July 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by James Jiang, Vice President of OKEx in charge of Marketing. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.
Join OKEx ~
Introduction Questions Asked By BlockTalks
Q1. Can you introduce yourself to the community? What’s your position on OKEx?
Ans — Hi everyone, I am James Jiang, Vice President of OKEx in charge of Marketing. I joined OK Group in 2016, and have been working for OKEx.com since it’s foundation in 2017. I am mainly in charge of the Global and China’s User Growth and Marketing.
OKEx is a Malta-based cryptocurrency exchange. It was founded in 2017.On April 11, 2018 the company announced its expansion to Malta, given the country’s efforts to provide a sound regulatory framework for blockchain businesses and digital asset exchanges. In May 2018, the exchange became the world’s largest cryptocurrency exchange by reported turnover. OK Group comprises multiple entities from which OKEx and other exchanges serving various customers in different regions of the world.
Q2. Can you describe 2–3 unique advantages of OKEx Exchange?
Ans — Thank you for bringing this important question.
OKEx actually is a one stop shop when it comes to bitcoin and cryptocurrencies. You will not need to use another exchange with all the benefits and advantages OKEx provides. You can buy sell crypto, trade on the futures market, trade options and the perpetual trading. Furthermore, Savings and Staking options are also available on our platform as a great way to earn passive income. You can convinietly as well buy crypto using your credit/debit card, hassle free through our platform. Dex and C2C makes OKEx the most versatile cryptocurrency platform in the world :)
Second advantage is Security. We DO NOT have in our history any incidents of major hack or breach as opposed to what happened with some of our competitors. Security is always our priority. OKEx provides a safe, reliable and stable environment for digital assets trading via web interface and mobile app by adopting GSLB, distributed server clusters and many more advanced technologies. Yeah! We also invent and develop products according to customers’ needs and suggestions to offer the best trading experience available in the industry.
The third advantage is the strong liquidity that OKEx provides on all trading pairs which makes it the dream come true for any trader to execute trades knowing eventually that there is enough liquidity in the market for his order to be matched and executed.
Q3. How OKEx ensures top security of user’s funds? What’s in your security layer?
Ans — Security is always our priority.
Beside the abovementioned, we do provide as well cold and hot wallet system as an extra layer of security. We have an excellent track record in terms of security which proves our commitment to provide the most secure cryptocurrency exchange out there.
Questions Asked on Twitter For OKEx!
Q1. In OKEx Cloud it is offering people to create their own exchange. I’m just confused why OKEx is creating it’s own competition? Gaining liquidity, transparency, & security is taken care by OKEx for the same?
Ans — OKEx Cloud shares OKEX’s core technologies, including the matching system, hot and cold wallets, and asset settlement system, so that traders can enjoy a safe trading environment. Going back to one of OKEx main targets, is to make bitcoin and all cryptocurrencies mainstream. By allowing new players to join the scene we believe that more people will join as the we grow the adoption of Bitcoin and cryptocurrencies worldwide.
Also, OKEx Cloud offers spot and C2C trading that shares OKEX’s market depth and liquidity. Currently, C2C trading enables conversions between multiple fiat currencies, such as CNY, Euro, GPB, etc. and mainstream digital assets.
Q2. As new and inexperienced traders join crypto exchanges, do you think copy trading features like eToro will complement the trading volume? What other unique exchange features do you think can help both experienced traders and newbies be “better” at crypto trading?
Ans — I believe personally that it’s never bad or negative that new people with different expertise and diffrent walks of life are joining the crypto revolution. OKEx is a pioneer in blockchain and crypto trading, that is why we consider educating the crypto community about Blockchain, bitcoin and trading as one of our core missions.
Our OKEx academy https://www.okex.com/academy/en provides everything in terms of education for anyone interested to start trading cryptocurrencies. I believe that education is always the best tool to allow people get more knowledge about the space. Regarding trading features such us copy trading, I believe that we made important leaps herein and more startups are working on amazing trading solutions (software/bots) that will allow a better seamless trading experience.
Q3. OKEx C2C loans just makes me realize that OKEx enters into DeFi. What’s your prospective for the most discussed topic of blockchain anc crypto circle DeFi & how Okex is coping with it?
Ans — Recent progress in the DEFI space is indeed impressive, but it is still early and new users should be cautious with their funds. This is where we see our role, for OKEx to introduce the average user savely to the DEFI space, while giving them access to the high yields. This is why we recently launched the Compound governance token $COMP to our margin trading offering https://twitter.com/OKEx/status/1277589894936907785. Another example is the User Experience,
which in DEFI differs for each APP. Whereas OKEx is able to provide one consistent interface for all DEFI applications. We also provide a safer environment to the masses of users, who don’t want to manage their funds’ keys. And finally, we provide risk management tooling to benefit both, lenders and borrowers. This way, we believe we can benefit the DEFI space as well as our business, and most importantly — the users. Trade $COMP on OKEx for a chance to win $20,000 USDT:
Q4. For the development of OKEx Trading, what are you going to improve for the future so that people can trade on OKEx easily and what about the OKEx Fiat network that already supports local banks for the Asian region?
Ans — There always are improvements necessary to provide the best service — from risk management to trading interface. To make sure we keep tackling the right problems, we recently started a feedback program, to incentivize regular traders to become part of the product improvement process. Every trader who provides insights through this form http://okexusers.mikecrm.com/IaRtuzh will receive random airdrops as rewards on 13th July.
We envision the fiat network to be a more customer-driven gateway to enter the digital assets markets. We aim to create a low-volatility market and zero transaction-fee market, and will base our extension of new pairs and features on user demand.
Q5. What are the better opportunities an intraday trader get in OKEx apart form other exchanges available in ecosystem?
Ans — OKEx is one of the most reliable and long-standing exchange platforms in the crypto sector. Launched in 2014, we were the first to offer leverage products and have grown into one of the leading crypto exchanges by volume and adoption. We recently have been channeling our efforts to perfect the risk management engine for the futures market, and we have yet recorded any BTC clawbacks for about a year and a half.
Even on March 12–13, when markets went highly volatile, OKEx handled the highest BTC futures volume and didn’t have to cancel users positions, while other exchangees may unwound winning trader’s positions by auto deleveraging.
Questions Asked by our BlockTalks Community Members during live Session for OKEx Exchange!
Q1. About the Competitors. Every exchange has its own position in the market, how does OKEx plan to stay competitive compared to other projects such as Binance, FTX, Bybit ..?
what products you offer to allow people who do not have crypto? Can Users trade between the fiat currencies and crypto?
Ans — This is a very important question
In OKEx, we strongly believe that competition is very healthy for our space. Let’s all remember that Bitcoin is only 10 years old
With thus little time, the space has grown very rapidly. We want to compete fairly with other entities because that how the blockchain and crypto space will grow more and more :)
Q2. Already many exchanges are in market so why OKEX TEAM decided to create okex ? Which factors makes it different from all exchange?
which points bases you can attract new investors on okex?
Ans — As a matter of fact we are a exchange founded in 2013, we have a very deep accumulation on the exchange running. Our core members of okex team boasts years of working experience in the traditional financial exchange and we are a group of people sharing the same vision that decentralized world will definitely come true and blockchain will change our lives greatly and soon.
Besides, that we’re also call the West Point in China’s crypto space, a lot of famous exchagnes founders used to work for okex.
Q3. Finally, OKEx and Skew Unveil Phase 2 of Partnership With 10 New Trading Data Charts. But how will this partnership helps OKEx’s main goal, “to make its products accessible to a wider audience of retail, as well as beginner traders”?
Ans — Yes, our partnership with Skew is one step ahead to provide an easier trading experience.
We do really always place our selves in the shoe of beginner trader or med-trader who are still learning the basics of crypto trading in general and based on that we try to provide the best tools that will help them go ahead with their trading
I also advice you watch this live webinar between OKEX and Skew
It’s really interesting 😊
Q4. How is OKB token uses for in OKEx exchange? How to keep motivation to hold OKB tokens in the long term?
Ans — We do have a huge plan on OKB, it’s definitely our high-priority project. And we are now developing new ecosystem surrounding OKB. Hopefully in the coming months, you’ll see good performance of OKB and OKChain!
Q5. Nowadays, there are many new cryptocurrency exchanges and well-known old cryptocurrency exchanges facing liquidity problems and leading to closures, so how do you solve this liquidity problem and ensure users get good liquidity?
Ans — If you take a look at the charts here, I bet you ‘re 100% convinced by our liquidity capability
Q6. 👉How well does OKEX evaluate the importance of the community on your platform and what integration tools have they developed for them?
👉I recently heard that @OKEx has now strongly driven Defi technology, does this imply that your other products like Derivatives and okex DEX will get lower priority from now on the market?
Ans — Community is at the center of our whole operations. Everything that we really do is really dedicated to provide customers / traders with the best trading experience out there.
We also emphasis on the security aspect because we believe that protecting our community is the basis of what we do. Yes, bringing unconventional financial products to our community is also important with the fast pace of new technologies coming every day, however we make sure that our community has the opportunity to be well educated on any new product we provide.
Q7. Nowadays, there are many new cryptocurrency exchanges and well-known old cryptocurrency exchanges facing liquidity problems and leading to closures, so how do you solve this liquidity problem and ensure users get good liquidity?
Ans — At OKEx, we are one of the most liquid cryptocurrency exchanges in the world. You can trade any pair without facing any difficulty closing a position.
Of course some very popular tokens will have more volume than others which is pretty normal considering how the market reacts to any particular project. But a promise that we can keep us that liquidity is one of the strengths of our platforms as the number of our users is growing rapidly! 😊
Q8. What are your major goals to achieve in the next 3–4 years? What are your plans to expand and gain more adoption? How do OKEx elevate crypto participants’ understanding about project?
Ans — We are working with a multitude of we’ll known and very respected partners in the space. Lately we have partnered with Paxful for instance to make accessing Bitcoin and crypto much more easier to big segments of people around the world.
Yes we have an important task and responsibility as one of the biggest crypto platforms in the world to make bitcoin mainstream and that what we are proudly doing :)
Q9. How does OKEx solve the problems that exchanges are facing: system overload, lack of liquidity, hacker attack?
Do you plan to list OKB on other exchanges OkEx? How soon will it be?
Ans — Thank you very much for this important question.
We do at OKEx, have one of the best teams working on our trading platform. Technically speaking we do provide a very seamless trading experience. We all remember that some other exchanges run into different issues on their trading interface whole others experienced multiple Ddos attacks that caused their members to lose money. Security and a seamless stable trading experience is one of the cornerstones of OKEx.
Q10. OKEX recently launched many Great products like Okex Pool, etc !! So, whats the next product from OKEx we can see in next 1 year ?
Ans — Thank you for your question. We do have multiple services that we offer and like James said our platform is really a one stop shop for everything crypto.
One thing I can say is STAY TUNED! 😀😁
Don’t go very far, we have new stuff coming your way guys, make sure you join our telegram and have your OKEx app up and running!
2020 is going to be an important year for Crypto and for the way we see money as people.
Stay tuned! 😊🙌
Here are some important links of OKEx Exchange👇
Join OKEx —
OKEx Telegram —
OKEx Announcement —
http://t.me/OKExAnnouncements
Twitter —
