OKEx is a centralized cryptocurrency exchange founded in 2017 and is located in the Seychelles. According to CoinGecko, OKEx is the third largest cryptocurrency broker in the world with almost $ 12 billion in trading volume in the last 24 hours. There are 312 coins and 518 cryptocurrency pairs on the stock exchange.
New cryptocurrency enthusiasts often find it difficult to navigate the complex world of trading and finance. OKEx strives to offer such sophisticated trading methods for daily use by users by offering a simple interface. During an exclusive Ask Me Anything (AMA) session with Cointelegraph Markets Pro users, OKEx employees discussed trading instruments, financial regulation, the OKExChain (OEC) blockchain, meme coins and DeFi offers 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 any fully integrated partnerships?
OKEx employees: TL; DR [too long, unreadable], you do not need any programming experience to automate trades with a trading bot on OKEx. We make it really easy for you to set up a trading bot – it is built into the OKEx trading panel. You can mostly automate by selecting the AI option and entering the order amount in Tether (USDT), or you can manually set the options, including price caps and bottoms, for the asset you want to trade.
Thus, a robot is an automatic trading instrument with predefined parameters. Trading robots can maximize potential profits, especially when the market trades within a certain area. So, with a trading bot like the one we have at OKEx, it will be more profitable if the market you choose will rise (sell), then fall (buy), then up, down, etc., instead of just growing. , or up, up. OKEx trading bot is available for all spot trading pairs, which means you can buy and sell Ethereum (ETH), for example in Bitcoin (BTC) and beyond. A video tutorial on trading robots coming soon! Maybe next week, but here’s a written guide. This is what it looks like in the user interface (UI). You do not need to have API / coding experience to implement such a robust and automated strategy.
OKEx Trade Interface | Source: OKEx
Profit and Loss Trading Robot | Source: OKEx
CT Markets Pro User: Do you think the crypto ban in India will affect the crypto area?
OKEx employees: I think that for India, the regulator would like to have a more comprehensive framework for regulating cryptocurrency instead of banning it. History tells us that when cryptocurrencies are allowed and regulated, they can become stronger. A ban in India is unlikely to have a significant impact on the market. Crypto has become very resistant to this type of news in the last couple of years.
CT Markets Pro User: The cryptocurrency has a very high demorat (volatility). Do you use the same economic model (eg Black-Scholes) as stocks to price cryptocurrencies?
OKEx employees: Our options marketplace uses the Black-Scholes model to calculate the tick price (the fair value of this contract). To manage risk, we use a scenario such as a SPAN stress test (for example, the Chicago Mercantile Exchange) to calculate the maximum loss for a client’s portfolio.
CT Markets Pro User: I’ve recently heard of some developments with OKExChain. What happens to this?
OKEx employees: Yes, the rumors are true! [Commercial series] It is called OEC. The main network was launched this summer. A little about OEC: There is a public EVM (Ethereum virtual machine) -compatible blockchain that uses the Cosmos / Tendermint architecture. OKEx has been quietly developing the OEC for several years to make it as powerful as possible and solve the blockchain trilemma problem. Unlike the Ethereum clone, it is built from scratch. For more details on OEC you can read this, but it is not easy to read.
CT Markets Pro User: What is OKEx DeFi Hub? What products and services are currently offered, and what opportunities are there for games?
OKEx Staff: DeFi is the new regime at OKEx. You can switch between sharing and DeFi mode on okex.com or in the app. Basically, it’s like a bridge between the CeFi and DeFi worlds – OKEx brings you and DeFi together in one connected interface. First of all, you do not need to have an OKEx account to use DeFi mode.