Pro XRP Lawyer John Deaton Shifts Focus to Custodia Bank vs. Federal Reserve Battle
John Deaton, a Pro XRP lawyer, is keenly interested in the Custodia Bank vs. Federal Reserve legal battle, suggesting it may hold even more weight than the high-profile XRP lawsuit. He commented on this statement while recently interviewing Catlin Long. Both have criticized the US regulator’s nasty role in suppressing the crypto industry. The case has more layers and will be his top priority after the XRP case. Do we smell a change in dynamics happening anytime soon?
What Happened so far?
Custodia Bank, founded by Bitcoin advocate Caitlin Long, was aimed to provide account services to crypto businesses and create a vital link to the US dollar. In October 2020, Custodia Bank applied for a Federal Reserve master account, which would grant access to the Fedwire network, the Federal Reserve’s extensive payment system. However, the Fed rejected the application in January 2023, citing concerns about the bank’s crypto activities.
However, in June 2022, the bank pursued legal action against the Federal Reserve for what they deemed an “unlawful delay” in considering their master account application.
Deaton Weighs In custodia’s Case Takes Center Stage
Speaking on this, Deaton analyzed the core problems in the entry and exit points (on-ramps and off-ramps) for cryptocurrencies by established financial institutions that could have far-reaching consequences for the entire crypto ecosystem. During the Mainnet conference, Jeremy Allaire opened an important fact that within seven days, 5000 companies were “de-banked,” raising a red flag. This event concerned Deaton in many ways. The question arises: Why is Custodia Bank’s battle for access a regulatory turning point?
Here, Deaton noted that Custodia Bank’s core argument is circling around the unjust denial of its master account request, a crucial element for full participation in the financial ecosystem like other fintech companies. Deaton, who has criticized almost all regulatory bodies, sees this case as shedding light on regulatory bodies falling short of their legal responsibilities, potentially prompting a shift in Federal Reserve conduct.
A Chilling Message to Entrepreneurs
Beyond this specific case, Deaton dug deep into the outcome of Custodia Bank vs. Federal Reserve, which could deeply influence current market sentiments. Overhauling and Denying Custodia Bank a master account might disrupt the entry of big institutions from the crypto market, potentially stifling innovation and competition. This underscores the immense importance of such legal battles, as Deaton actively engages in various crypto-related litigations and plans to expand the scope of CryptoLawUS.
At last, Deaton believes Custodia Bank’s success in court will set a precedent for significant claims in the crypto space, making it one of the most pivotal cases among ongoing crypto-related litigations involving Ripple, Coinbase, and Binance.
Hong Kong’s Hashkey Pro to Expand Cryptocurrency Services for Retail Investors
Author: Elena R Jul 8, 2023 10:47
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
Hashkey Pro, a Hong Kong-compliant cryptocurrency exchange, will expand its services to retail investors in the coming weeks. The exchange is expected to receive approval to expand its license, which will allow it to offer virtual asset services to retail investors. Currently, only a handful of cryptocurrencies, including BTC, ETH, USDT, USDC, USD, and one STO token, are available on Hashkey Pro. With the license upgrade, the exchange will be able to offer a wider range of digital assets to its customers. This move comes amid growing demand for secure and regulated cryptocurrency exchanges in Hong Kong. HashKey aims to take a leading role in transforming Hong Kong’s mainstream investment in digital assets.
Ripple vs SEC Update: Pro XRP Lawyer Discuss Potential Outcomes and Implications Lawsuit
In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), attorney John Deaton, a pro XRP lawyer and amicus curiae in the lawsuit, has shared valuable insights regarding potential consequences and future actions. While the final ruling date remains uncertain, Deaton offers analysis on key points.
Regarding a user’s query on the lawsuit verdict and the possibility of more XRP holders joining the case against Ripple in Oakland, California, Deaton provides detailed analysis. He suggests that if Ripple loses the legal battle against the SEC, it may take an extended period before any funds are collected, especially if Ripple fails on appeal.
However, he firmly believes that if the case proceeds to the Supreme Court, Ripple would likely emerge victorious. If the SEC wins, Ripple would appeal, leading to a continuation of the legal process for 2-5 years.
Deaton also discusses a scenario where the SEC prevails and a California judge’s ruling aligns with Judge Torres’ decision. In this case, Ripple would appeal again, resulting in a prolonged period without funds being collected, if collected at all.
After exhausting all avenues of appeal and losing the case, Ripple would be subject to a penalty of approximately $1.3 billion, which would be collected by the SEC rather than the civil plaintiffs.
Furthermore, Deaton highlights the advantages of being on the 75K list of XRP holders. He emphasizes that the list facilitates the easy identification of potential plaintiffs, aiding in potential future actions.
Dismissing claims that joining the list and asserting that XRP is not a security would be detrimental to monetary recovery, Deaton clarifies that being on the list does not waive any rights but rather helps identify potential claims for XRP holders at an early stage.
While Deaton acknowledges his skepticism regarding significant outcomes in the civil case, he suggests that if the SEC ultimately triumphs, it would collect the most substantial amount of money and potentially offer the best resolution option. Overall, being on the 75K list is seen as advantageous, providing XRP holders with a means to identify potential claims and assert their rights.
As the Ripple vs SEC lawsuit awaits its final ruling, these insights from John Deaton shed light on potential outcomes and implications, offering a clearer understanding of the ongoing legal battle and its impact on XRP holders
Ripple Vs SEC Lawsuit Update: Pro XRP Lawyer Expects Summary Judgement Before June 13
The final ruling on the Ripple vs. SEC lawsuit is just around the corner, and it has the entire crypto industry on the edge of its seat. This lawsuit holds high significance as it is expected to provide regulatory clarity in the USA, which currently struggles without a comprehensive regulatory framework for the sector.
As anticipation runs high, there have been several predictions on what to expect. However, here’s one that’s sure to interest you: XRP enthusiast and attorney Jeremy Hogan has revealed his expectations regarding the summary judgment ruling in the Ripple-SEC lawsuit.
Jeremy Hogan Shares Insights on Summary Judgment
Jeremy Hogan, a partner at the law firm Hogan & Hogan and an XRP enthusiast, recently shared his expectations regarding the summary judgment ruling in a tweet. In response to a Twitter user’s query about whether Judge Torres could make a summary judgment decision before the release of redacted documents, Hogan stated that the judge is not required to wait for the documents but it is more likely that she might choose to do so. He further mentioned that he would not hold his breath until after June 13.
Judge Torres Denies SEC’s Motion To Seal Hinman Documents
On May 16, Judge Torres made a significant ruling by rejecting the SEC’s request to seal the Hinman documents. This means that the court intends to make these documents available to the public. Since then, the countdown has begun with June 6 in mind, as the anticipated date for the public release of these much-discussed documents.
Recently, both Ripple and the SEC filed a joint letter together, asking for an extension of one week. This means that the deadline for filing public versions of the summary judgment motions, along with supporting exhibits, including the Hinman materials, has been pushed back to June 13, 2023.
XRP Does Not Satisfy Howey’s Test
In a noteworthy discovery, John Deaton, the founder of CryptoLaw, found some interesting information in the footnotes of Ripple’s Opposition and Reply Briefs. These footnotes made reference to internal emails within the SEC, suggesting that there are internal discussions acknowledging that XRP may not meet all the criteria of the Howey Test, a legal test used to determine whether an asset is a security.
Deaton expressed his eagerness to review the redacted documents, which he believes largely contain personal opinions. He highlighted the existence of 63 emails and 52 unique drafts of the Hinman Speech, indicating a substantial amount of revisions and input for what is purportedly a personal opinion.
Final Ruling On The Lawsuit
In the recent Dubai Fintech Summit Garlinghouse shared his predictions for the resolution of the lawsuit. He expects the case to conclude within the next two to six months. He acknowledged that the Judge may operate on her own timeline but remains optimistic that the ruling will be made before the end of Q3 2023.
Trade DeFi Gems like Fantom with Avorak AI Algos like a pro
The DeFi ecosystem is rapidly growing, and traders scout for profitable trading opportunities. Fantom (FTM) is one of the emerging DeFi gems that has attracted investor attention due to its rapid growth and potential for future adoption. Whether you are an experienced crypto trader or a newbie, the easy-to-use Avorak Trade tools will simplify your crypto trading experience.
Fantom FTM
Fantom is a fast, scalable, and secure blockchain platform that offers a range of DeFi services, including tokenization, staking, and decentralized lending. It’s innovative consensus mechanism and technical architecture have positioned it as a leader in the DeFi space. With Avorak AI’s sophisticated trading tools and algorithms, traders can analyze market trends, identify trading opportunities, and make informed decisions when trading Fantom crypto. The platform’s advanced trading bots and real-time market data provide insights and dynamic trading strategies when trading any DeFi coin, including FTM. Through Avorak AI, traders can gain exclusive access to the latest news, insights, and market analysis related to the DeFi ecosystem. This comprehensive analysis lets them stay updated on the latest market trends and make smart trading decisions to maximize their profits.
Avorak AI (AVRK)
Avorak AI is a comprehensive portfolio featuring multi-use bundled tools for blockchains and individual traders. AI is doing wonders in several industries, from auto to aerospace. A YouTube video by CryptoTV has laid down the various uses of AI and the significance of AI crypto. Avorak AI solutions fall under AI crypto, an application of AI in blockchains and other crypto functions. Avorak leads AI crypto with its bundled tools, including chatbots, trade bots, virtual assistants, and text generators. Avorak Write helps users to generate error-free content meeting users’ intended style by auto-correcting and proofreading before generating the final copy. Avorak Write strives to eliminate the existing defects affecting the existing AI tools. For example, it addresses repetitive and plagiarized content.
Avorak ICO, currently in phase six, has AVRK going at $0.235, a 291.67% increase from the initial price. Avorak will launch at $ 1 and list on Coinsbit, LAToken, PancakeSWap, and Azbit. The record-breaking ICO has seen early investors getting on top bonuses currently at 5%. ICO holders will also enjoy more pecks like priority staking, access to Beta, and more. Avorak AI’s infrastructure has passed through two audits by Cyberscope and SolidProof to guarantee its security and transparency.
Avorak Trade utilizes advanced algorithms to monitor markets 24/7 and analyzes historical and present data to determine accurate price prediction signals. The trading bot can be automated to trade on behalf of investors while they attend to other duties. Avorak Trade is also error-free and eliminates the human aspect of biases and fatigue. Furthermore, the tool has an easy interface, and anyone can use it comfortably, regardless of their technical level.
Wrap Up
FTM traders can leverage Avorak AI’s advanced trading algorithms and insights when trading DeFi gems like Fantom by taking advantage of the fast-paced and ever-evolving cryptocurrency market. With its powerful trading tools and real-time market analysis, Avorak AI offers a unique opportunity for all traders to trade DeFi like a pro, maximizing their profit potential while minimizing risks.
Get more on Avorak AI and ICO here:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
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The Crypto App Launches “Pro” and “Pro+” Premium Subscription Services
The Crypto App, the top utility app for crypto enthusiasts, traders, and investors, has announced the launch of the new Pro and Pro+ subscription services designed to empower users with the best combination of data, tools, and content for informed trading and investing decisions in the crypto space.
The Crypto App now offers a combination of proprietary analytics and curated metrics, and insights from top crypto intelligence brands, including IntoTheBlock, TradingView, and Messari. This unique service is tailored to the needs of crypto enthusiasts and provides unmatched insights at an unbeatable value.
“Bear markets are where opportunities are found. You only have to know where to look.”
said Jeff Kirdeikis, the CEO of TrustSwap, the parent company of The Crypto App.
“From day one, our mission at The Crypto App has been to make it easy for anyone to join the financial revolution that crypto represents. This Pro offering is another step in that mission and makes it much easier for crypto novices and veterans alike to block out the noise and access the most trusted and valuable information needed to make intelligent investment and trading decisions.”
The Crypto App Pro
The Pro offering is perfect for crypto enthusiasts and traders, while the Pro+ offering is designed for research-focused, long-term investors seeking the most advanced features available.
Both the Crypto App’s Pro and Pro+ offerings include:
- Token Metrics – Twenty-one (21) proprietary signals and metrics that are designed to help users identify emerging crypto market trends and capitalize on opportunities early. This powerful tool is powered by crypto investment intelligence leader IntoTheBlock. With Token Metrics, users can make informed decisions and potentially increase their returns in the crypto market.
- Market Metrics – Our market metrics offer 21 unique and actionable insights into the crypto market, with a special focus on Bitcoin and NFT-oriented markets. These analyses and on-chain signals are also powered by IntoTheBlock and are designed to provide valuable insights that can help you make informed decisions.
- Portfolio Tracker – Our portfolio tracker is a powerful tool that allows you to monitor your total crypto portfolio in one comprehensive view. By linking the data from all of your self-custodial wallets and exchange accounts, you can see your balances and transactions across multiple chains and platforms all in one place.
- Real-Time Alerts – Customizable, real-time alerts can be set to trigger when certain conditions are met around specified tokens and help ensure that valuable windows of opportunity in the market aren’t missed. The Pro tiers offer a variety of alert types to choose from, including changes in volume and market cap.
- Advanced Widgets – Personalized widgets deliver ‘at-a-glance’ summaries of important real-time information regarding specific tokens, the user’s portfolio, or market news. These widgets are visible on the user’s smartphone home screens and are powered by The Crypto App in the background ensuring that users can keep tabs on the market without needing to even open the app.
- Advanced Charts – A full selection of advanced market and token-based technical and dynamic candlestick charts supported by a wide array of indicators (including Bollinger Bands, MACD, RSI, etc.) and enhanced features, is powered by TradingView, the industry leader in technical analysis charting.
- Exchange and Currency Conversion Pairs – Enjoy access to trading pair data across various crypto exchanges as well as an expanded selection of crypto-to-crypto and crypto-to-fiat conversion pairs that can be used in the in-app currency converter.
- Exclusive Partner Offers – Receive exclusive discounts and special offers from leading crypto and non-crypto-related digital services.
- Ad-Free Experience – Eliminate ads in The Crypto App to ensure a clutter-free and uninterrupted experience across all features of the app.
The Crypto App Pro+
In addition to all of these powerful features and partner benefits, the Pro+ tier also includes exclusive access to:
- Professional Crypto Research – In-depth analyst-crafted analyses and professional-level, long-form, fundamental research reports furnished by crypto market intelligence leader Messari. This feature provides exclusive access to top-tier content authored by Messari’s professional research analysts.
Try It Now For FREE!
Individuals can now download The Crypto App either via Google Play or Apple’s iOS App Store and quickly and easily register for a FREE 7-day trial of The Crypto App’s new Pro or Pro+ versions. Subscription to The Crypto App Pro starts at just $8.99 per month or $14.99 per month for the Pro+ subscription.
“We’ve brought together the most reputable intelligence and data sources in the space, and combined them with our own technical innovation, to deliver a robust bundle that offers what every crypto enthusiast, trader, and investor is looking for: trusted information…and an edge,” said Niklas Jabs, Head of The Crypto App. “True to our mission, we want to make it easy for everyone to access this value-packed mobile resource so we are offering it at an affordable price.”
Previous Versions
The launch of the new Pro and Pro+ services replaces an older version of Pro that was previously offered by The Crypto App. Any users who had already paid for lifetime access to the previous version of The Crypto App Pro will be automatically migrated to a new exclusive Premium tier that only they are entitled to. Members of this Premium tier will be grandfathered for lifetime access to all of the features they were already previously enjoying. They will also be extended new benefits at no extra cost. Premium tier members will also always have the option to upgrade to Pro and Pro+ at their own discretion.
The launch of Pro and Pro+ will not affect the ad-supported, feature-rich basic version of The Crypto App which will remain completely free for anyone to use.
About The Crypto App
The Crypto App is a market-leading, utility-focused mobile application (4.1+ million downloads and a 4.6/5 star rating or higher across Google Play and iOS App Store, backed by over 84,000 reviews) that features a comprehensive crypto-focused toolkit and content experience built for the needs of crypto enthusiasts, traders and investors everywhere. Its best-in-class array of free and paid features, including a portfolio tracker, token analytics, real-time alerts and widgets, multi-language support, and an up-to-the-minute news feed, help users deepen their knowledge, monitor their investments and make empowered financial decisions in the crypto ecosystem.
For more information or to download The Crypto App, please visit https://get.thecrypto.app/coinpedia-pro .
| Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. |
A Global exchange for beginner & Pro traders
Introduction
Are you looking for more passive earning options with cryptocurrencies? A centralized exchange with low fees and a wide variety of popular tokens that supports more fiat currency? An exchange that has never been hacked and is easy to use? We have an answer, Okx, previously called Okex Exchange is one of the most preferable exchanges in the world.
Overview
| Official Web Address | https://www.okx.com/en-in |
| Headquarters | Seychelles |
| Country of Origin | China |
| Founder | Star Xu |
| Founding Year | 2017 |
| Exchange Type | Centralized |
| Trading Options | Spot, margin, derivative, crypto-to-crypto trading, perpetual swaps trading, DeFi, Lending, Mining Services |
| Trading fees | 0.10% maker and 0.10% taker fees, 20% discount for KCS payment |
| No of cryptocurrencies | 100+ |
| Native Token | OKX Token (OKT) |
| Deposit methods | Master Cards (Debit/ credit card), P2P express |
| Deposit fees | No deposit fees for cryptocurrencies |
| Withdrawal methods | Bank transfer, Wire Transfer |
| Withdrawal fees | Depends on cryptocurrencies |
| Supported Countries | 180+ |
| Restricted countries | 10+ |
| Supported Fiat currencies | 90+ |
| Mobile App | Available on Google & Apple App Store |
What is Okx Exchange?
OKX is a Seychelles-registered cryptocurrency exchange Founded in 2017 By Star Xu. Initially, it was known by the name Okex, but in Jan 2022, it rebranded itself as Okx. It offers spot, margin, futures, options trading, lending, and mining services. The current CEO of the company is Jay Hao.
Okx was first registered in Beijing, China. Then, it moved to its present headquarters in Seychelles as China banned cryptocurrency. Okx has its own native coin OKC Token. Now, Okx currently serves more than millions of customers from more than 180 countries.
With Okx you can now
- Easily trade hundreds of tokens and trading pairs
- Manage your DeFi portfolio
- Create and trade NFTs
- Discover top decentralized applications, including DeFi and blockchain gaming DApps.
- Connect to DeFi with our Web3 wallet via our app or browser extension.
- Earn crypto in our mining pools, take out crypto collateralized loans, and discover other ways to grow your crypto with OKX Earn.
Features
- Trading Options – Okx offers spot, margin, Futures, and options trading on its platform
- Trading Fees – For regular users maker/ taker fee is 0.080% & 0.100% respectively. For VIP user maker/ taker fee is 0.060% & 0.080% respectively. There is a considerable decrease in trading fees as your 30-day trading volume and digital assets increase
- Earn – Okx offers various earning methods through which you can generate an income passively. You can now earn hourly interest using a savings scheme with a flexible time period. With staking you can earn up to 15% APY for 90 days or a flexible time period. Dual investment offers up to 36.4% APY and fixed income gives stable but low returns for your assets. So depending on the type of risk and reward ratio you can select your own customized earning program and benefit from it. Flash interest is a high-risk, high-return program where you can get interest rates up to 500% and the time period is less than a week.
- Crypto Loan – You now borrow crypto by giving another crypto as collateral. This has a floating interest rate and interest will be calculated hourly.
- Jumpstart – It is a launch platform for blockchain projects. Users can subscribe to promising projects and earn income passively. Currently, Okx allows mining and on-sale alternatives for users.
- Learn – Okx has an exclusive learning section for both beginners and veteran users. It has more than 811 articles on various topics like bitcoin, blockchain, okx products, how-to tutorials, etc.
- Referral – With an Okx referral, you can mystery boxes every time a friend joins okx using your referral link. There is no limit to mystery boxes. You can earn many times.
- Affiliate – If you are an influencer with larger followers you can opt for this program where you will earn 50% of your referee’s commission in trading fees.
Okx Exclusive Features
- Okx Pool – Okx pool help miners to get a good revenue by providing an amazon pool platform where they could earn by stable mining.
- OKB – it is the utility token of Okx. Users with Okx get discounts on trading fees, get passive income with Okx earn, and many more
- Okx Proof of reserve – Proof of reserve is an initiative by the crypto exchanges to show how client assets are backed by real assets in a 1:1 ratio. With this users can be sure that the company is transparent and trustworthy.
- Okx Wallet – It is a wallet where you can store all digital assets in one place including NFTs and DApps.
- Okx Ventures – it is a subsidiary of Okx that supports and invests in promising blockchain companies and crypto companies
Cryptocurrencies Available on Okx
Though Okx offers more than 100 cryptocurrencies for its users, some of the popular cryptocurrencies on its platform are
- Bitcoin
- Ethereum
- Tether
- USD Coin
- Matic
- XRP
- DogeCoin
- Cardano
- OKC Token
How to Create a New Account on Okx?
Let us create a new account on Okx
- You can sign up on Okx using your email id/ mobile number
- For superfast signup log in with your Google account
- Congratulations, Your account is open now.
- In order to unlock the full potential of Okx, verify your account
- Chose an individual/ corporate account and update your nationality
- Provide your first name and last name
- Provide Id Name and Number. The ID can be a driver’s license, passport, or any government-issued photo ID like tax ID, ELection ID, etc
- Complete the photo verification by capturing a photo ID using a webcam or mobile.
- It may take 24 hours to fully verify from the Okx team. Once you are verified your withdrawal limit automatically increases.
How to Buy Cryptocurrency on Okx?
Let us learn how to buy cryptocurrency on Okx. Identity verification is a mandatory step before buying cryptocurrency in Okx.
- Log on to okx.com
- Click on [Buy Crypto] on the header
- Choose your fiat currency and type the amount to buy your selected cryptocurrency
- Pay with a debit/ credit card or P2P express or BuyUcoin. Choose the right payment method and Agree on the terms and conditions
- You will get a confirmation message once the transaction is completed
How to Sell Cryptocurrency on Okx?
Let us learn to sell crypto on Okx
- Click on [Buy Crypto] in the header and Click [Buy with card]
- Click on the [Sell] option
- Type the amount of cryptocurrency you want to sell
- And Click sell
- Select the payment wallet you want to receive payment
- Confirm the details
- You will receive a confirmation receipt
How to Deposit Cryptocurrency on Okx?
Let us learn how to deposit cryptocurrency on the Okx exchange
- Log on to okx.com
- Click on [Deposit Crypto]
- Select the cryptocurrency you want to deposit
- Choose the correct network. Or else you may lose assets as mistakes are irreversible
- Click [Continue]
- Choose and confirm your location
- Choose the funding/ trading account where you want to receive assets
- Choose the deposit address and copy/ paste it into the withdrawal section of the other exchange from where you want to transfer assets.
- Confirm the details and click [Continue]
- You will get a confirmation receipt once the transaction is completed
How to Withdraw Cryptocurrency on Okx?
Let us learn how to withdraw assets from okx
- Log on to okx.com
- Hover on the assets tab and click [withdraw]
- Choose the asset you want to withdraw
- Select the right network
- Fill in and confirm the withdrawal details
- Input the withdrawal address
- Click [Continue] after you have double-checked the details
- Enter your Funds password and SMS code
- You will get a confirmation receipt once the transaction is completed
Exchange Fees & Supported Systems
Okx exchange uses a maker/taker fee model for charging trading fees from its users. Market makers are charged less than market takers. In addition to that, Okx also gives many discounts to users holding more OKB tokens and with high-volume trading.
For regular users, the maker/ taker fee is 0.080% & 0.100% respectively.
For VIP user maker/ taker fee is 0.060% & 0.080% respectively.
There is a considerable decrease in trading fees as your 30-day trading volume and digital assets increase
Regular users are categorized based on the trade volume and OKB holding. VIP-level users are categorized based on the assets they hold and 30-day trading volume
| Tier | Total OKB holding | Assets (USD) | or | 30-day trading volume (USD) | Maker fee | Taker fee | 24h withdrawal limit (BTC) |
| Lv1 | < 500 | < 100,000 | / | < 10,000,000 | 0.08% | 0.10% | 500 |
| Lv2 | ≥ 500 | < 100,000 | / | < 10,000,000 | 0.08% | 0.10% | 500 |
| Lv3 | ≥ 1,000 | < 100,000 | / | < 10,000,000 | 0.07% | 0.09% | 500 |
| Lv4 | ≥ 1,500 | < 100,000 | / | < 10,000,000 | 0.07% | 0.09% | 500 |
| Lv5 | ≥ 2,000 | < 100,000 | / | < 10,000,000 | 0.06% | 0.08% | 500 |
| Tier | Assets (USD) | or | 30-day trading volume (USD) | Maker fee | Taker fee | 24h withdrawal limit(BTC) |
| VIP 1 | ≥ 100,000 | / | ≥ 10,000,000 | 0.06% | 0.08% | 600 |
| VIP 2 | ≥ 500,000 | / | ≥ 20,000,000 | 0.05% | 0.07% | 800 |
| VIP 3 | ≥ 2,000,000 | / | ≥ 50,000,000 | 0.03% | 0.06% | 1,000 |
| VIP 4 | ≥ 5,000,000 | / | ≥ 100,000,000 | 0.02% | 0.05% | 1,200 |
| VIP 5 | ≥ 10,000,000 | / | ≥ 200,000,000 | 0.00% | 0.04% | 1,500 |
| VIP 6 | — | / | ≥ 500,000,000 | 0.00% | 0.03% | 1,800 |
| VIP 7 | — | / | ≥ 1,000,000,000 | -0.01% | 0.03% | 2,000 |
| VIP 8 | — | / | ≥ 10,000,000,000 | -0.01% | 0.02% | 2,000 |
Okx Proof of Reserve
Since FTX’s fall, it has become a necessity to showcase proof of reserve of cryptocurrency exchanges. With this in mind, Okx exchange is one of the leading pioneers in the industry to showcase proof of reserve to its customers to gain trust and credibility
Referral
With the Okx referral program, you unlock a mystery box that contains gifts worth $10,000.
Steps to follow
- Ask your friend to open an Okx account using a unique referral link
- Both of you can get a mystery box with an exclusive gift when the friend signs up within 30 days
- Check out and claim the mystery box
- Both of you will get another mystery box when your friends deposit or trade for $50 or more.
- Every Mystery Box comes with crypto rewards worth up to $10,000. The rewards include BTC, ETH, OKB, DOGE, FIL, SHIB, DOT, and rebate cards. Claimable rewards can be viewed on “Referral – History”.
- There is no limit on how many Mystery Boxes you can receive. The more friends you invite, the more you get.
Affiliate Programme
If you are an influencer with a large number of followers you can benefit from the affiliate program. Apply for the affiliate program and get 50% of your invitee’s trading fees as your commission on the Okx exchange.
You can promote affiliate links on videos, blogs, social media, and website ads. This is a lifetime offer and has no time limit.
You can also earn with other co-inviters where you can earn up to 30% of invitees’ trading fees
Customer Support
Okx exchange has a dedicated help section that contains topics for troubleshooting problems and FAQs. If you are still not happy with the help section, you can chat with the Chatbot where you have to specifically type your query. Again it will give you related article links from the blog section. We are not truly happy with the customer support as there is no phone support or email for immediate issues.
Recent Updates
02 Dec 2022 – Okx exchange kicks off the second football cup NFT to those who joined the Okx football festival Staking rewards
25 Nov 2022 – Okx exchange features promotional offers for EU & UK users to Buy crypto with ZERO fees using a debit/credit card from 01 Dec 2022 to 14 Dec 2022.
23 Nov 2022 – Okx exchange released ‘Proof of Reserve’ on its website to maintain transparency of the firm
Conclusion
Okx exchange, previously known as Okex, is an innovative cryptocurrency agency that is friendly for both beginners and experienced traders. It offers some of the best passive earning programs like staking, fixed-income scheme, dual investments, and referral/ affiliate bonus.
As it uses a lightning network, the trade orders are smoothly executed without any delay. The trading fees are reasonable and if you are a high-volume trader or OKB holder you will get additional trading discounts.
Okx exchange offers mystery boxes to new users which can contain prizes with $10,000 or cryptos in equivalent. The learning section is a plus point for beginners to start their crypto journey.
The verification process usually finishes in one day but, if there is more queue it can take up to 3-4 days. Okx has never been hacked and has got world-class safety features to protect customer funds. The exchange recently published Proof-of-reserve which shows that user assets are backed to real assets in a 1:1 ratio. Okx is one of the few companies to publish proof of reserve post-FTX crash.
The only problem is that it is not available in the United States, Canada, United Kingdom, Iran, Syria, Bangladesh, and 10 other countries.
Okx exchange is definitely a good exchange for you if you are a beginner or intermediate trader.
FAQs
Okx is currently not available in the U.S.
It has a simple platform that works well both for beginners and intermediate traders. The app is simple and easy on the eyes. There is a helpful article for beginners in the help section of the website.
A user can deposit and start trading without KYC verification. However, recommend you do KYC verification to use the full feature and benefits from Okx.
Okx uses the Lightning network to deposit and withdraw BTC. A lightning network is a decentralized payment protocol that allows instant, off-chain transactions on a blockchain, such as Bitcoin
Okex Exchange Ratings
- Currency Support
- Online Reputation
- Fees
- Customer Suppor
Pros
- Simple and easy to use charts
- Over 100 cryptocurrencies supported
- Fiat to cryptocurrency support
- High-level trading platform
- Leverage trading
- Inbuilt software wallet
Cons
- Not available in the US
- Can be complicated to use
- No Demo Account
- CNY only fiat currency supported