OKX Launches Nitro Spreads and Other Changes on the Exchange for June

Cryptocurrency exchanges constantly carry out some kind of updates and enter into partnerships. We continue to keep you up to date. Today we will talk about OKX and its changes.

A little bit about the OKX cryptocurrency exchange

Previously, the site was better known as OKEx. Therefore, if you come across such a name, then keep in mind that this is a modern OKX. The exchange has been operating since 2017. It provides cryptocurrency trading services all over the world. There is a greater choice of effective tools on the site.

The exchange is one of the most popular. It has several advantages:

  1. Supports many cryptocurrencies. There are more than 80 Fiat here.
  2. A wide range of tools for trading on spot and futures markets.
  3. It also supports perpetual swaps and options.
  4. The development team has been working on the platform since 2013.
  5. There is no mandatory verification.
  6. The deposit has no commissions.
  7. P2P trading is available.

There are affiliate and referral programs, a number of additional features. MetaX crypto wallet is provided. It is not only suitable for cryptocurrencies, but also works with DeFi applications and non-interchangeable tokens. The exchange has a high level of security. For the entire period of its existence, I have never encountered a successful hacking.

Price Lock Trading Bot

Cryptobot Price Lock guarantees that the interest on your orders will be executed at exactly the value that you have chosen. It is the latest addition to the set of cryptobots that the platform has developed.

The website states that Price Lock is suitable for experienced traders. It guarantees that the percentage of the order will be executed in any case, regardless of the fluctuations of the crypto market. With it, you can buy or sell an asset at the time you set.

What are the key features:

  1. After the completion of the order, the funds will be blocked on it. In other words, it will not be possible to make a cancellation or withdrawal until the order is valid.
  2. The percentage of the order that is guaranteed depends on the user's goals and the market situation. The further from the real value you set the price, the lower the percentage will be. For example, it will not be possible to buy bitcoin for a dollar and sell it for 100 thousand dollars within a week, at a quote of 28 thousand dollars.
  3. The bot only tracks the expiration price. If the crypto market shows a price level below the target, but then rises, Price Lock will purchase only a percentage of the target value that the user has set.

For example, if you want to buy bitcoin when the value drops. Hypothetically, it costs $25,000, but you can see that the price can drop to $22,000. You can use the bot to buy bitcoin for $22 thousand, for example, in a week. The result will be as follows:

  1. If the price has fallen to the specified level or below. Then the order is executed at 100%.
  2. If the cost does not fall to $ 22 thousand, it is guaranteed. That the ratio of the order will be executed at the set value at the end of the contract.

The percentage of execution is calculated by the bot automatically! You either agree to these terms or you don't.

Nitro Spreads on OKX

Nitro Spreads is a functional that works with the over-the-counter liquid market. Traders can conduct difficult basic trades with one click.

Basic trading refers to the difference in the price of an asset in two different markets, which can be used to make a profit. For example, it may be the difference between spot and futures markets. With this function, the user can automate such trading. 

At the same time, representatives of the exchange stated that Nitro Spreads works in any combination of markets that are listed on the exchange. The functionality was created because institutions need reliability, predictable profits and true innovation when choosing a trading platform.

The press release says that it is one of the basic trading functions on the crypto market, in which both halves of the transaction are carried out using the order book. Before conducting, the trader can specify a guaranteed spread that will reduce the risk of value slippage.

The GRIN4 ecosystem

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