It is a crypto exchange made for the VeChain ecosystem. Nearly all systems presently listed on the exchange are Vechain family members like a warhorse, SHA, PLA, DBET, VTHO, JUR, and numerous other coins. Also, it allows cryptocurrencies from outside of the Vechain ecosystem. These systems need to be quality systems, however, as the ecosystem aims for expensive transactions. All coin listings will be paired with Vechain (warhorse). A warhorse is a dominant asset on the platform. This is different from other exchanges where we typically see Bitcoin and Ethereum as the dominant duos. The exchange also differs from other exchanges by enforcing technology or unique ways that will be enforced in the(near) future.
OceanBrain
It is the integrated artificial intelligence (AI) system of OceanEx covering the security of the exchange. A significant concern of cryptocurrency exchanges is platform security, where there are various major incidents reported by large cryptocurrency exchanges involving account hacking and/ or theft of finances. This is why OceanEx didn’t hesitate to spend as much as required on their security. OceanBrain can govern platform security by monitoring mass behavior and detecting mischievous transactions to secure client finances. In addition, algorithms oversee the entire exchange platform and corroborate if the distribution of trading orders from all customers is normal, or has swerved from the anticipated norm. OceanBrain uses literal data generated on OceanEx to do its magic but combines this with human-generated information. It’s principally a hybrid model.
Wallets
OceanEx uses a hot wallet, a cold wallet, and also a frozen wallet. Trade data gets examined every day, making sure there’s no more amount on the hot wallet than required. The hot wallet contains as numerous tokens as required for customers to withdraw from the exchange concerning the average. It’s the same system banks are using for paper funds inside ATMs. Not all customers will withdraw 100 percent of their savings at one time. The same goes for crypto exchanges. The cold and frozen wallets are much more secure and will keep most of the finances extremely safe.
OceanMarket
Customers will be allowed to publish strategies to OceanEx. This will be some kind of social trading platform. You can follow a specific customer and invest in this customer. You’ll earn a commission related to the performance of this customer. This can be a particular friend or an amateur dealer up to a veritably large professional dealer.
OceanEx freights
OceanEx trading freights
Trading freights are naturally very important. Every time you place an order, the exchange charges you a trading figure. The trading figure is typically a % of the value of the trade order. In this exchange, they don’t split between takers and makers. Each party to a sale pays the same figure of 0.10 percent of the order value. 0.10 percent is below the industry normal. The industry normal has for a long time been 0.25 percent, but presently there is a shift towards lower freights. Numerous exchanges now charge e.g.0.10 percent or 0.15 percent rather.
OceanEx withdrawal freights
OceanEx charges a withdrawal figure amounting to 0.0005 BTC when you withdraw BTC. This is around 40 percent lower than the industry normal, as the industry normal is arguably around 0.0008 BTC per BTC withdrawal. Consequently, the withdrawal figure charged by this exchange is relatively competitive. All by each, the freights at OceanEx are competitive.
Deposit styles
This exchange isn’t only open to cryptocurrency deposits but also to fiduciary currency deposits. They’ve several directives on/ off ramps. You can deposit through line transfer, credit or debit cards (through their third-party mates Simplex and Banxa), etc.
OceanEx security
OceanEx states on its website that it has bank-level SSL secure technology and advanced machine learning algorithms to quickly identify attacks and guard your assets and deals.
