Cryptocurrency Exchange OKX is among the leading centralized exchanges in the crypto industry. Recently, the exchange announced its partnership with Tafabot to enhance the trading experience of its users.
Per data, alliance with Tafabot will help OKX’s users to access a wide variety of bots in spot, future, and arbitrage trading. Users can use this feature by downloading the Tafabot application from the Play store or Apple store. Once the application is successfully downloaded, users must create an account on the interface, and click the ‘connect to an exchange’ option.
According to the Tafabot website, it is one of the leading crypto trading bot providers tailored to numerous market conditions allowing users to trade more effectively. The bot provider also offers users to access Smart Invest Bot.
According to CoinMarketCap, OKX’s 24-hour spot trading volume was $948,807,071. More than 320 coins and 577 pairs of cryptocurrencies are listed on the exchange.
The downfall of FTX has stirred the crypto market and eradicated users’ trust. The crypto exchange was founded by Sam Bankman-Fried and was based in the Bahamas.
The failure of centralized exchanges has created a fearful environment in the industry, forcing the exchanges to present the Proof-of-Reserve, which can regain users’ trust.
OKX released its seventh monthly PoR showing USD$10 billion in Bitcoin, Ethereum, and USDT. PoR is a financial statement detailing that the particular organization has sufficient funds compared to the currency issued.
Recent Contributions and Partnerships of OKX
Earlier on May 25, 2023, TheCoinRepublic reported that OKX had sent its license proposal application under Hong Kong’s new regulatory regime of VASPs as it comes into effect on June 1, 2023. The company has worked and put in efforts to meet regulatory requirements for over a year.
The Seychelles-based exchange announced on May 23, 2023, that it has prepared a full-proof plan to begin its operations in France, and will simultaneously hire hundreds of regional employees.
In the initial phase, it will hire ten employees, and in a time frame of three years, it will employ a total of one hundred locally qualified employees. The industry analyst highly praises the plan for OKX expansion in France, and believes the move follows more straightforward MiCA regulations.
Okcoin and OKX came up together to support the betterment of the Bitcoin Lightning Network. It is important to note that the partnership is majorly an initiative to Dusty Daemon, an open-source developer who made significant contributions to the betterment of Lighting Network.
OKX has majorly contributed to the crypto market and has invested in some leading startups to support them in development. Some of the significant investments of OKX are Sei Network, Arbitrum, Gitcoin, LayerZero, and Outland.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/05/29/okx-partnered-with-tafabot-to-enable-users-access-trading-bots/