Founded in 2014 in China, OKEx is also one of the top digital asset exchanges in the world by trading volume, serving over 20 million customers in over 100 countries. Cryptocurrency exchange behemoth OKEx has suspended crypto withdrawals for users. It was this past Friday when one of the most well-known exchanges, OKEx, suspended withdrawals – followed by an announcement stating that one of the holders of the clients’ private keys was “cooperating with a public security bureau” in regards to an ongoing investigation. Users who have made deposits, held tokens or traded during the withdrawal suspension time period will receive 20% of OKEx’s total income from futures and perpetual swap transaction fees … Spot Spot. Malta-based cryptocurrency exchange OKEx has reopened withdrawals five weeks after an abrupt suspension. Basic Advanced. For example, at the time of performing this analysis, BTC's withdrawal fees in OKEx are 0.0005, which is almost the cheapest withdrawal fee you will find for Bitcoin. OKEx shut the doors for the asset withdrawals and now holds a number of entities responsible for managing the asset private keys. Since its inception, OKEx has always insisted on maintaining 100% reserves, meaning that all user funds can be withdrawn without restriction after withdrawals are reopened. Soon after his exchange recommenced withdrawals after a six week lock up, OKEx CEO Jay Hao revealed during a … This is not the first time Xu has been in trouble. By News Bot On Oct 16, 2020 17. About 2,822 BTC was moved from OKEx … Spot Spot. The person in question is said to be Xu Mingxing, the founder of OKEx, who was reportedly taken away in police custody. This trading platform charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. Withdrawals Return on OKEx as Exchange Tries to Make Amends for Fund Freezes. Back in October, when OKEx first announced the suspension of withdrawals, BTC dipped $300 in only 30 minutes. Basic Advanced. The $1,000 Bitcoin price slide also caught out some unaware futures traders. Basic Advanced. P]eople can trade their BTC on OKEx despite the withdrawal suspension.” The Malta-based crypto exchange still remains the No. Derivatives. Withdrawal Suspension Jolts Crypto Markets In an announcement made earlier today, cryptocurrency exchange OKEx stated that it had suspended all user crypto withdrawals as one of the holders of its private keys is “currently cooperating with a public security bureau”… OKEx's trading fees are 0.1% for Market Makers and 0.15% for Market Takers, which places the exchange among the most competitive exchanges. Jay Hao, CEO of Malta-based cryptocurrency exchange OKEx, said his firm has taken steps to ensure the issue that caused a freeze of over five weeks in cryptocurrency withdrawals … OKEx freezes withdrawals indefinitely on Friday, October 16. Margin Margin Increase profit and risk with leverage. This exchange’s withdrawal fees are … Basic Advanced. This, therefore, means that the users are free to make withdrawals without any form of restrictions on their accounts. During the session, Hao reiterated that user assets were never at risk but extended apologies for the stress and inconvenience the uncertainty had caused. OKEx says withdrawal issues are ‘temporary,’ can’t disclose ‘the nature of an ongoing investigation’ Cryptocurrency News. OKEx has lowered the withdrawal fees for BTC, ETH, XRP, BCH, and USDT-ERC20. Basic Advanced. On the day of withdrawal suspension, the exchange announced cooperation with one manager and authorities as a part of the investigation. Jay Hao: Apologetic to Users Over Withdrawal Suspension. Regarding OKEx's withdrawal fees, they are among the cheapest exchanges as well. OKEx has always been maintaining 100% reserves, a practice it will continue to follow so that users can withdraw all their funds at any time if they wish. Spot. Want to know more? For example, at the time of performing this analysis, BTC's withdrawal fees in OKEx are 0.0005, which is almost the cheapest withdrawal fee you will find for Bitcoin. In summary, OKEx has quite competitive fees, and thus is worth to be considered, specially when looking to invest in low market cap altcoins. However, a typical minimum withdrawal fee on OKEX is around 0.004 BTC, which is ridiculously expensive (currently around $60) and is the reason I will probably never use OKEX again. OKEx has also gone ahead to assure its users that their funds are covered by a 100% reserve. We will regularly adjust the withdrawal fees in accordance to the blockchain network to offer the best rates for users. Meanwhile, OKEx is set to resume crypto withdrawals by 8 AM (UTC). Its BTC futures trade also has nearly $1.5B of volume daily, and is widely recognized as the gold standard for the industry. Basic Advanced. Last week, OKEx CEO, Jay Hao, took questions from the platform’s users during an AMA on the exchange’s Telegram channel. The crypto exchange reportedly holds about $3.48 billion worth of Bitcoin that has been stuck on the platform since mid-October . The trading pl Author: Jimmy Aki. Spot. It still remains whether or not the recently mentioned concerned party is the private key holder from the statement made in October. Margin Margin Increasing profit and risk by leverage. DEX Trading Testnet Decentralized exchange based on OKExChain. DEX Trading testnet Decentralized exchange based on OKExChain. To thank its loyal customers for their continued support and to apologise for the interruption of service, OKEx will be launching user loyalty reward campaigns in tandem with the reopening of withdrawals. Now, with services on the verge of being completely restored, OKEx is also in the process of launching user loyalty reward campaigns as a symbol of goodwill for the benefit of its customers. OKEx halted Bitcoin withdrawals on October 16 after its founder, Xu Mingxing was arrested by the police. Perpetual Perpetual Easily trade with up to 100x leverage. Following the announcement, the price of Bitcoin on OKex dropped 3% to $11,208 before recovering slightly to $11,323 at the time of writing. According to the … promo. In a short blog post on Thursday, the exchange announced that it … Instead it will be posted on the order book, allowing others to take the order. OKex announced that they would make an official public announcement disclosing more details on the matter shortly. Withdrawals on OKEx remain suspended. OKEx has released an official statement, stating that the exchange will resume withdrawals before Nov. 27, 2020 (HKT).. OKEx Reopens for Business “The problem has been resolved and the relevant personnel have returned to work,” the company said. Withdraw; Transfer; My trading fees; Start demo trading; Trade in Real Market; Buy/Sell; Market ; Trade. BTC withdrawal fee has been adjusted to 0.0004 BTC from 0.0005 BTC; ETH is adjusted to 0.003 ETH from 0.01 ETH; XRP is adjusted to 0.1 XRP from 0.15 XRP; BCH is adjusted to 0.0001 BCH from 0.001 BCH; USDT-ERC20 is adjusted to 0.88 USDT from 1 USDT. Derivatives. Contribute to soulmachine/okex-withdrawal-fee development by creating an account on GitHub. Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans! OKEx is a Hong Kong based world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology. This sparked discussions in the Chinese … The exchange says that an official is cooperating with a public security bureau. Even though OKEx tried to handle the situation with the little information it could provide, with an investigation ongoing, users’ confidence was affected. Finally, regarding deposit fees, OKEx is a no-fiat exchange and does not charge anything for funding the account with cryptos as well. It varies slightly (depending on the mempool I guess) and you can pick your fee within a range. OKEx, one of the world's largest cryptocurrency exchanges, unlocked the withdrawal functionality ahead of the scheduled time. They would be able to do this immediately once withdrawals are reopened on the platform. Staking Account Merged into Funding Account, Reissue of Earn Revenue for The Maintenance of Mining Pool Services, Temporary Suspension for Futures & Options System Upgrade, January Bonus Distribution of BitTorrent (BTT), Ontology Gas (ONG), Algorand (ALGO), and Blockchain Exchange Alliance (BXA), Bitcoin SV (BSV) Genesis Upgrade: Deposit and Withdrawal Suspension, Adjustment of USDT-margined Futures & Perpetual Swap Tiered Maintenance Margin Ratio Schedule, Bitcoin Gold (BTG) Mainnet Upgrade: Deposit Suspension. “OKEx is expected to open withdrawals at 8:00 (UTC) on November 26, 2020.” The suspension of services contributed to many exchange users panicking. Withdraw; Transfer; My Trading Fees; Start Demo Trading; Trade in Real Market; Buy/Sell; Market; Trade. This is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. Crypto exchange OKEx has announced the date to resume unlimited crypto withdrawals.According to the announcement, the company intends to launch a big campaign to apologize to clients for a long wait.. November 19, 2020 | AtoZ Markets – OKEx users can be happy as the Chinese company confirmed today, November 19, the resumption of withdrawals after being frozen for almost a month. OKEx has lowered the withdrawal fees for BTC, ETH, XRP, BCH, and USDT-ERC20. BTC withdrawal fee has been adjusted to 0.0004 BTC from 0.0005 BTC; ETH is adjusted to 0.003 ETH from 0.01 ETH; XRP is adjusted to 0.1 XRP from 0.15 XRP; BCH is adjusted to 0.0001 BCH from 0.001 BCH; USDT-ERC20 is adjusted to 0.88 USDT from 1 USDT. Once the order is filled, maker will pay the maker fee and taker will pay the taker fee. The final transaction fee will not exceed 12.5% of the option premium. 1. Those fees, together with the large number of markets available in the exchange (currently about 200 cryptocurrencies) make this exchange very interesting for altcoin traders and investors. The Trust Project is an international consortium of news … OKEx, one of the world's largest cryptocurrency exchanges, is ready to unlock a cryptocurrency withdrawal functionality on November 27. Breaking: OKEx to resume cryptocurrency withdrawals on November 27 ... FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Perpetual Perpetual Easy to trade, max 100x leverage. Get OKEx withdrawal fees of all currencies. Withdrawals could … OKEx has resumed P2P trading in China, India and Vietnam. Trade from crypto to crypto. But, as always, don't forget to check the crypto search engine to ensure you are choosing the cheapest exchange. OKEx CEO Jay Hao said on Sina Weibo that the decision to temporarily suspend withdrawals was due to personal issues of the private key holder. Trading from crypto to crypto. CEO of OKEx, Jay Hao also took to twitter to assure users that funds and assets were safe. OKEx Withdrawal fees. OKEx news OKEx withdrawal suspension OKEx scam Star Xu Arrest CCP. Cryptocurrency exchange OKEx recorded a major bitcoin outflow just minutes after it lifted a five-week-long withdrawal suspension at 08:00 UTC Thursday. With OKEx resuming its withdrawal services, $3.48 billion worth of Bitcoin stuck on the exchange is now free to move. Finally, regarding deposit fees , OKEx is a no-fiat exchange and does not charge anything for funding the account with cryptos as well.