One of the most difficult things about being a cryptocurrency trader is having to deal with a number of different online crypto exchanges, each of which has a separate user account. Managing all of these accounts and remembering the right passwords can quickly become a major headache, which is why OKEx’s new Unified Account feature is the crypto trader’s dream come true. The new feature allows users to link all of their existing OKEx accounts to a single unified account, which reduces the need to remember multiple passwords, and makes it easier to monitor and manage your trades. The solution offers more convenience for traders, allowing them to easily monitor and manage multiple crypto-to-crypto, as well as crypto-to-fiat, trading pairs
Crypto exchanges are competing for users with a wide array of different features. While most exchanges offer a basic set of features like crypto-to-crypto trading pairs, fiat pairs, or the ability to withdraw funds to bank accounts, there is a new breed of exchanges that are making waves by offering more advanced features. One of the most notable features recently added to an exchange is OKEx’s new unified account feature, which allows users to link their crypto and fiat accounts.
The OKEx exchange, which has a daily trading volume of over $1.1 billion, has been testing out a new feature that allows users to deposit and withdraw their crypto funds to different wallets, which are linked to the same account. Traders no longer need to use multiple wallets with separate user names, passwords, and security measures to manage their crypto holdings. Rather, crypto funds can be managed from a single account, with the potential for additional features such as a consolidated portfolio page.OKEx introduces a revolutionary single account system that combines all account types under one for easy trading; a first in the crypto-currency industry. Single account is a new type of trading system introduced by OKEx to improve daily cryptocurrency trading around the world. Traders can now focus on fund management, risk management and instrument usage through a centralized platform, without being able to deviate from their main trading objective. Under the umbrella of a single account, users can simultaneously trade spots and derivatives and switch between investments in one or more currencies. This feature is specifically designed to increase the use of capital and efficiency for traders on the go. In a major leap forward in the cryptocurrency world, OKEx has made this functionality, previously limited to a few brokerage firms and banks with large capital portfolios, available to all users worldwide. OKEx India users can now benefit from margin trading, which was otherwise reserved for them. Currently, most cryptocurrency traders and investors can have the following account categories: Money account, option account, coin account, leverage account. Because of the independence of these account categories, the transfer of funds is a mandatory step for transactions between accounts. Delays in exchanges often occur as a result of this time-varying and inductive transmission process. With one OKEx account, all account types can be consolidated in one central location to improve operational efficiency, lower threshold costs and reduce training time. For amateur traders and newcomers to the cryptosphere, this unified trading system has proven easy to understand. This feature is designed to make trading easy and accessible for everyone: interested traders and those who are not. Given the broad spectrum from beginners to professionals, the OKEx system for individual accounts is structured as follows:
- Single mode : Aimed at cash traders and buyers of options.
- Single currency margin : Suitable for margin and derivatives traders who wish to optimise their capital on all trading instruments, with the option to choose either cross margin or single margin on open positions.
- Multi-currency margin and portfolio mode: designed for the most advanced users on OKEx, including professional and institutional traders and API users. The main difference in this model is that assets of users in different currencies (in US dollar values) can be used as collateral.
- Unified accounts also have the advantage of being able to trade any instrument with full buying power. For example, to trade the USD ETH, traders can now make a purchase with any instrument without necessarily having to buy the ETH first.
- This makes it particularly useful for traders who calculate their profits and losses in USDT. In addition, transaction costs are kept to a minimum.
Jay Hao, CEO of OKEx, is particularly excited about this feature becoming part of the global cryptocurrency debate. Returning to his opening remarks, he said: We want all traders to have the best possible trading experience on our platform, whether they are new to trading cryptocurrencies or already seasoned. With this new feature, each account mode is customizable and suited for different experience levels, allowing you to trade with different risk appetites. We have invested considerable resources in developing a sophisticated and flexible product that we hope will meet the needs of a growing number of users. With OKEx leading the way on the Indian continent, all Indian traders and crypto-enthusiasts can benefit from the revolutionary single account platform. In addition, OKEx India removes financial barriers by making peer-to-peer (P2P) transactions available to all users who want to exchange INR, seamlessly and securely, through our global crypto-currency platform. For more information, visit OKEx.com or click here today! OKEx is an innovative crypto-currency exchange offering advanced financial services with several million users in 100 countries. OKEx uses blockchain technology to provide everything you need to make smart transactions and investments. Join one of the leading cryptocurrency exchanges in terms of trading volume. OKEx offers over $1.5 billion in daily BTC futures trading volume and provides cash, margin, options trading, perpetual swaps, DeFi, credit and mining services to traders worldwide.OKEx, one of the world’s largest cryptocurrency exchanges, is making every cryptocurrency trader’s dream come true by offering a unified account feature. Previously, traders could not move coins between various exchanges, which meant they were not able to take advantage of arbitrage opportunities. This was an inconvenience for many traders, but a relief for some who were worried that prices would drop due to rapid selling or that exchanges would be hacked.. Read more about okex buy crypto and let us know what you think.
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