OkEx has quickly become the biggest and best futures trading exchange and this has been only cemented further with their latest BTC/USDT marginalised futures addition.
The Malta based exchange has become the first to have a stablecoin as part of their futures offerings. The simulation was completed on the fifth of this month and has officially been live for about one week.
With features like a ridiculous leverage of 0.01–100x and a contract pricing of 0.0001 BTC, it is not hard to see why it attracts. Partner that with the ease of use due to the company’s Linear Contract, that removes the need to hedge the margin risk of inverse contracts, OkEx is clearly a standout exchange for USDT.
Another standout feature and one that left one Twitter user happy with the new OkEx USDT futures contract i the ability to hold USDT rather than Bitcoin. This being crucial in a bear market. @BTCVIX tweeted:
“Just pausing at this level until more downside $BTC.
USDT margined futures let you hold USDT rather than BTC — great in a bear market
The team at OkEx are similarly pleased with the initial performance of their new futures feature. Jay Hao, CEO of OKEx had this to say prior to the OkEx USDT futures release:
“The simulation of our USDT Futures Contract was very successful, and we received positive feedback from traders in the OKEx community.
“At OKEx, we’ve developed a safe, reliable, and stable environment for cryptocurrency trading, and strive to offer new services based on our customers’ interests. We’re excited to add USDT linear contract to our Futures market and next on the Perpetual Swap market to meet the interests of our growing international user base.”
According to an OkEx press release, this USDT feature is jut the start for the exchange. They will soon have cryptocurrencies such as EOS, ETH, LTC, BCH, XRP, ETC, TRX, and BSV on the USDT-margined futures market.
OkEx out in the lead
With the latest USDT feature, it is clear that OkEx has blown away the competition in terms of futures trading. The exchange has a far greater amount of tokens listed on their exchange than the others and is the only one to offer futures on stable coins.
A recent comparison between OkEx and Bitmex the other leading figures by Aia Crypto Today found that the Malta exchange heavily outweighed their counterpart. OkEx trumped Bitmex in various fields. They held more trading markets, lower fees, more order types, and a wider variety of underlying assets.
Even Binance, the exchange many feel is the biggest in the world, is struggling to keep up with OkEx. More recently, the exchange was embroiled in yet more controversy after a user complained about the lack of clear rules. Changpeng Zhao’ exchange also fell out of the top ten in terms of the most trusted exchanges in CryptoCompare’s latest report.