One of the largest cryptocurrency exchanges, OKEx, is expanding its P2P trading services and adds support for three fiat currencies, including the Russian ruble.
You can buy and sell cryptocurrencies with zero commission
Cryptocurrency exchange OKEX has added support for three fiat currencies to the P2P platform. Users can purchase cryptocurrencies with Russian rubles (RUB), Argentine pesos (ARS) and Thai baht (THB) starting on January 28, 2021.
For clients of the P2P service, 15 cryptocurrencies are available, including bitcoin, ETH and others. OKEx P2P platform already serves users who transact in Indian Rupees (INR), Chinese Yuan (CNY) and Vietnamese Dong (VNR). Currently, 11 fiat currencies are available for customers. As the company explained, users will be able to purchase digital currencies with zero commission.
The P2P Trade platform is also directly linked to traders’ accounts at OKEx. By purchasing cryptocurrency for fiat on the P2P platform, users can continue trading in the exchange ecosystem, gaining access to 400 trading pairs presented on the platform.
With the expansion of the service, P2P Trade will support 14 new payment methods, including bank transfers, Yandex Money, JazzCash, OVO and Mercadopago.
“We are always looking for ways to simplify user registration and make buying cryptocurrency as easy and convenient as possible. By giving our customers the ability to buy and sell cryptocurrencies for their local currencies and preferred payment methods, we can make it easier for people around the world to enter the cryptocurrency space, ”commented OKEx CEO Jay Hao.
Expanding the functions of the P2P platform, OKEX is trying to create comfortable conditions for entering the cryptocurrency market. As the company explains, the coronavirus epidemic has attracted new retail customers to the market. However, the limited ways to buy cryptocurrency hinder the development of the market. Therefore, cryptocurrency exchanges are trying to make access to digital currencies as simple and profitable as possible.
“More and more people are looking at bitcoin and other digital assets as a viable alternative to fiat money, either to protect their wealth from the devastating effects of inflation, or because of its proven potential for capital gains. We are pleased to offer more ways to invest in this alternative asset class, ”added Jay Hao.
Will there be users?
Cryptocurrency exchange OKEX expands the services available to customers. Some experts believe that in this way the exchange is trying to regain user confidence after the scandal that occurred at the end of 2020. Recall that in October last year, the OKEx cryptocurrency exchange froze the withdrawal of all funds amid cooperation in the investigation with law enforcement agencies. Then the founder of OKEx, Star Xu, was arrested by the Chinese authorities.
For almost a month, users could not withdraw their money from the exchange. And only at the end of November, representatives of the cryptocurrency platform confirmed that the withdrawal of funds will be available in the near future. Since that time, the number of visitors to the crypto exchange has decreased by almost two million: from 6.7 million per month to 4.8 million.
By expanding the functions of existing services and paying special attention to the safety of keeping funds, the exchange intends to once again earn the trust and favor of traders.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
