What does 10x mean after OKEx currency (Is OKEx currency trading spot trading)?

What does 10x mean after OKEx currency? According to OKEx market data, 10x after OKEx currency means:

1. OKEx Bitcoin Cash (BCH) fork coin.

2. Bitmex Ripple (XRP) fork coin.

3. Difference between OKEX EOS and LTC.

4. BTC, ETH, EOS, XLM, and other mainstream currencies are traded on the exchange, but prices fluctuate greatly.

5. BTC/USDT, ETC/USDT, EOS/USDT, LINK/USDT, ADA/USDT, DOT/USDT, BTM/BTC, ZEC/USDT, OMG/USDT, ONT/USDT, QTUM/USDT, DASH/USDT, NEO/USDT, SNX/USDT.

Is OKEx currency trading spot trading?

Editor’s note: This article is from OKEx Research and is authorized to be reproduced by Odaily Planet Daily.

On August 24, 2018, OKEx coin trading platform suspended all services, including spot trading and spot leverage trading, after being suspected of fraud by netizens. The exchange also stated that it has suspended related operations such as withdrawals. So, how did OKEx resolve this issue?

1. According to official announcements, OKEx will support spot (non-delivery) trading for BTC/USDT and ETH/USDT, two mainstream currencies.

2. According to the official website, the difference between spot trading and Bitcoin futures contracts lies in the fact that spot trading can ensure the security of user funds while keeping the price of physical assets unchanged. Additionally, due to the large price fluctuations of cryptocurrencies, spot trading settlements are usually based on fiat currencies. Furthermore, there are differences between spot trading and spot leverage trading. When the coin price rises, investors need to purchase spot leverage products, but spot leverage cannot be directly converted into fiat currency or traded for encrypted digital currencies.

3. “Current” and “decentralized” is one of the most commonly used methods in the cryptocurrency world. A trading model that combines “spot trading and decentralization” involves a single account responsible for completing transactions rather than using spot trading methods like traditional trading. In other words, you can participate in a specific project with just a bank account without the need for real-time monitoring through the banking system.

4. For those who want to profit from the blockchain world, this may be a simple truth: “We see many companies launching their own businesses, and they hope to grow faster by using blockchain technology.”

5. In addition to spot trading, OKEx also provides OTC trading and various derivative trading services, including spot leverage and perpetual swaps.

6. Regarding spot leverage, OKEx provides two options:

1. Unified spot quotation. Spot trading and spot leverage belong to the same protocol, with the difference being that the spot market is dominated by a group of independent entities operating the exchange and has certain risk tolerance.

If you want to choose a trading form, you need to apply for an exchange as a third-party broker. However, in this case, the exchange may impose restrictions on customers, so it is necessary to strictly implement corresponding regulatory measures according to national requirements in order to ensure the protection of user rights and improve the liquidity of the platform, while protecting user privacy and ensuring trading security.