OKEx shared insights on trading, regulation, DeFi and more during

Founded in 2017, OKEx is a centralized cryptocurrency exchange based in Seychelles. According to CoinGecko, OKEx is the world’s third-largest cryptocurrency brokerage, with nearly $12 billion in trading volume within the past 24 hours. The exchange lists 312 coins and 518 cryptocurrency trading pairs.

It’s often difficult for new cryptocurrency enthusiasts to navigate the complex world of trading and finance. OKEx seeks to bring such sophisticated trading methods to everyday users’ disposal by providing a simple interface. During an exclusive ask me anything (AMA) session with Cointelegraph Markets Pro Users, OKEx staff discussed trading tools, financial regulation, the OKExChain (OEC) blockchain, meme coins, and DeFi offerings on the OKEx platform.

Cointelegraph Markets Pro User: How can someone benefit from bots / API [Application Programming Interface] trading with no coding experience? Does OKEx have any partnerships fully integrated?

OKEx Staff: TLDR [Too Long, Didn’t Read], you do NOT need to have any coding experience to automate trades with the trading bot on OKEx. We make it really easy for you to set the trading bot up — it’s integrated into the OKEx trading dashboard. You can basically go fully automated by choosing the AI option and just setting the order amount in Tether (USDT) or you can manually set your parameters, including the upper and lower price limits, for the asset you want to trade.

So the bot is essentially an auto-trading tool with pre-set parameters. Trading bots can maximize profit potential, especially in times of a range-traded market. So with a trading bot, like the one we have on OKEx, it will be more profitable if the market you choose goes up (selling), then down (buying), then up, down, etc., rather than just up, up, up. The trading bot on OKEx is available for all spot trading pairs, which means you can buy and sell Ether (ETH), in and out of Bitcoin (BTC), for example. A trading bot video tutorial is coming soon! Next week, likely, but here’s the written tutorial. And here’s what it looks like in the user interface (UI). You don’t need to [have] API/coding experience in order to execute such a powerful and automated strategy. 

OKEx trading interface | Source: OKEx

Trading bot profit and loss | Source: OKEx

CT Markets Pro User: How do you think the India crypto ban will impact the crypto space?

OKEx staff: I think, for India, the regulator would like to have a more comprehensive framework in regulating crypto instead of banning it. History told us when crypto is allowed and regulated — it can even be stronger. The India ban is unlikely to have any major impact on the market. Crypto has become quite resilient to such news developments over the past couple of years. 

CT Markets Pro User: Cryptocurrencies have a pretty high beta [volatility]. Do you guys use the same financial model (i.e., Black Scholes) as stocks to price crypto derivatives?

OKEx staff: Our option market uses the Black Scholes model to compute…