In the spring of 2019, the owners of the popular Asian platform OKEx (now OKX) created the OKB token. First of all, it interested exchange users, because it opened access to new services and reduced transaction fees. This soon attracted the attention of outside investors, which affected the stock price OKB.
As already mentioned, OKX Token (OKB) is a native cryptocurrency of the OKX exchange. OKB is currently running on the Ethereum platform. OKB cryptocurrency is used as a service token of the exchange and gives its holders some additional features.
OKB tokens have a maximum number of 300 million, but the token remains a deflationary asset. The OKB stock price today does not exceed a dozen dollars, but due to a number of unique characteristics, it is quite promising. For example, there is a mechanism to increase the value: regular burning of some of the tokens.
A centralized exchange also protects against depreciation: when the number of users and asset turnover grows, the native token exchange rate has grounds to jump. The increase in the number of partner services and the expansion of the ecosystem also has a positive effect on the value.
The founder of the project was Mingxing Xu. He is on the list of the richest people not only in China, but also in the world, and his capital is estimated at more than $1.4 billion in 2014. In the first years, the OKB platform created by him was fully managed by OKCoin, but in 2017 the situation changed - due to conflicts with the US Securities Commission, the owners changed jurisdiction to Hong Kong, and after another year - to Malta. This is due to the loyal legislation of the island state in the field of cryptocurrencies and blockchain projects. From 2021, the headquarters will be based in Malta.
An important event was the release of its own cryptocurrency OKB on April 29, 2019. Then users had the opportunity to withdraw tokens to cold storage cryptocurrency or to ERC-20 wallets.
The popularity and value of OKB coin are directly related to the demand for exchanges and the creation of new products. MetaX wallet without storage, trading platform NFT, and decentralized exchange OEC was already launched. The firm is also considering possibilities in the Metaversion and GameFi realms.
OKX is a cryptocurrency exchange that is among the TOP 20 in terms of trading volume, operating in more than 100 countries.
OKX users have access to:
Spot trading.
Margin trading.
Derivatives.
Investing in DeFi decentralized financial instruments.
Lending.
Mining through a complex pool with high yields.
Stacking.
The first holders are traders and investors of the stock exchange. There are other ways to receive:
Trading on exchanges. Like any coin, OKB is traded on exchanges, which makes it possible to use all tools to optimize trading. For example, using automated cryptocurrency trading, you can buy or set up a TradingView bot, or use other strategies such as copy trading crypto.
Exchangers. Exchangers charge fees for their services, so transactions are often less profitable than transactions through crypto exchanges or P2P exchanges.
P2P. Different platforms offer the option of direct trading, and you can do it right on OKX.