InsideBitcoins.com

OKEx Launches “Convert Small Balances to OKB” Product for Traders

OKEx to Leave the CME Group Behind, Will Launch Bitcoin Options in December

The OKEx cryptocurrency exchange has launched what they’re calling the “Convert Small Balances to OKB” product.

Essentially, any balance that is less than 0.001 Bitcoin is considered a small balance. This would allow users to convert that asset into OKB, the exchange’s native cryptocurrency.

That asset is a utility token with a supply of one billion tokens. That, and users who hold more than 500 OKBs and up to 2000 OKBs will enjoy fee discounts and other benefits, the exchange has noted before.

Those converting their small balances will see no limits on conversion times. However, assets that have been delisted or transactions suspended will not be eligible for this transformation.

A post on the website refers to OKB as “a much fairer system and fee schedule than many other exchange tokens out there today.”

The total amount of OKB exchanged is based on the market price at the time of price confirmation, a post from the company notes.

Recently, OKEx has been in the news for a variety of reasons. To start, the platform has partnered up with CoinDCX to expand cryptocurrency trading into the Indian market. In doing so, users will be able to trade top cryptocurrencies like Ethereum, Litecoin, TRON, and Bitcoin, for example, as InsideBitcoins has previously reported on.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies
4.5/5

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews

    https://insidebitcoins.com/visit/etoro-newsCreate your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees
    4.5/5

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews

      https://insidebitcoins.com/visit/plus500-newsCreate your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.
      Avatar

      Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend.