OKEx launches its revolutionary system, Unified accounts that combine all account types under one for ease of trading; a first in the cryptocurrency realm.
Unified Account is the first one-of-its-kind trading system launched by OKEx that is built to amplify day-to-day crypto commerce globally. Traders can now focus on fund management, risk control and tool utilisation from a centralised platform leaving no space to deviate from their core trading objective. Under the umbrella of unified accounts, users can simultaneously trade spots, derivatives, as well as switch between single and multi-currency assets. This feature has been specially crafted to enhance the traders’ capital utilisation rate and operational efficacy on the go. Taking a giant leap in the crypto universe, OKEx has made this feature available for all users across the globe, which was earlier only limited to a few brokerage institutions and banks with large capital portfolios. Now, OKEx India users too can derive marginal trading benefits that were otherwise reserved.
At present, most traders and crypto investors may be privy to the following account categories: fiat currency account, options account, coin account, leverage account. Given the independent nature of these account categories, fund transfer is a mandatory step to enable cross-account transactions. Trading lags are common given this time and transfer inductive process. The OKEx Unified account aims to combine all account types into a centralised location to enhance operational efficacy, decrease threshold costs and learning time. With amateur and new-to-the-market traders entering the crypto realm, this unified system of trading has been proven easy to grasp. The feature aims to make trading convenient and feasible for all; both vested and “out of the loop” traders.
Keeping the broad beginner to professional spectrum in mind, here’s how OKEx’s Unified account system is designed:
- Simple mode: Caters to spot traders and options buyers.
- Single-currency margin mode: Suited for margin and derivatives traders seeking to optimize their capital across all trading instruments, with the ability to select cross-margin or isolated-margin with their open positions.
- Multi-currency margin and portfolio margin mode: signed for the most advanced users on OKEx, including professional and institutional traders, as well as API users. The key difference with this model is that users’ assets in different currencies (as valued in USD) can be used as collateral.
- Unified accounts also come with the additional benefit of trading with any instrument with complete purchasing power. For instance, to trade ETH USD, traders can now make the purchase using any instrument without having to mandatorily buy ETH first.
- This makes it particularly useful for traders who compute their profit and losses in USDT. Furthermore, transaction costs are also minimised.
OKEx’s CEO Jay Hao is particularly elated bringing this feature to the global crypto conversation. Recalling his comments on the launch, he mentioned; “We want all traders to have the best experience when trading on our platform, whether they are new to crypto trading or already battle-hardened. With this new feature, each account mode is customizable and suits varying degrees of experience, allowing for trading with different appetites for risk. We have invested significant resources into providing a sophisticated and flexible product, and look forward to meeting the needs of our growing number of users.”
With OKEx spearheading its line of business in the Indian continent, all Indian traders and crypto enthusiasts can reap the benefits of the revolutionary Unified account platform. Additionally, OKEx India is eliminating the financial barriers by making Peer-to-peer transaction system (P2P) accessible to all users who wish to seamlessly trade in INR; through our leading global crypto exchange platform, securely. To learn more, visit OKEx.com or click here today!
OKEx is an innovative cryptocurrency exchange with advanced financial services with several million users spread across 100 countries. OKEx relies on blockchain technology to provide everything you need for wise trading and investment. Join one of the leading crypto exchanges by trading volume. OKEx houses BTC futures trading volume worth over $1.5 billion daily and enables spot, margin, options trading, and perpetual swaps, DeFi, lending, and mining services for traders globally.