OKCoin Korea Exchange Launched

According to the company, users can quickly and safely buy and sell bitcoins for Korean won on a new platform
03 April 2018   116

The team of OKCoin announced the launch of the same-name cryptocurrency platform for trading in South Korea. The new site was called OKCoin Korea.

Okcoin Korea
Okcoin Korea

According to the company, users can quickly and safely buy and sell bitcoins for Korean won on a new platform.

A year ago, OKCoin was on the list of the world's largest crypto exchanges, but under the pressure of the Chinese authorities it was forced to actually turn down the work.

In parallel, the company launched the international exchange OKEx, which is now in the top five of the largest crypto exchanges, outperforming in terms of trading volumes such sites as Bitfinex, Buthumb and Bittrex.

OKEx adds CSTs for Bitcoin Core and Segwit2x

OKEx exchange adds Chain Split Tokens for Bitcoin Core and Segwit2x, following the footsteps of Bitfinex
17 October 2017   790

The OKEx international platform, which is the part of the largest Chinese exchange OKCoin, clarifies its attitude towards the upcoming Bitcoin hardfork. 

Thus, the company speculates that is a chance that Bitcoin will experience yet another a hardfork this year.  Accroding to the exchange, if this is the case, then the fork is expected to occur on block 494784

As detailed by the team, OKEx will follow the protocol below (more details are on the OKEx website):

  • OKEx will support both withdrawal and trading of all split chain tokens from this hardfork, the users will have full control on their digital assets.
  • The spilt token supporting Segwit2x will be named as BT2, the token derived from the original chain will be named as BT1. If the hardfork occurs then BT1 will be renamed as BTC. 
  • From October 17th 2017 whether the hardfork occurs or not, OKex will support the conversion between BTC and BT1 & BT2. One BTC can be converted to one BT1 & one BT2 and vice versa. At the same time, BT1/BTC and BT2/BTC spot trades will also be live. 
  • If hardfork doesn’t occur, OKEx will cease the trading of BT1/BTC and BT2/BTC. The value of BT2 will turn to zero and users can convert their BT1 to BTC at a ratio of 1:1. 

It is worth mentioning, that one of the leading cryptourrency exchanges, Bitfinex, also issues tokens for Bitcoin Core and Segwit2x (BT1 and BT2).