OTC Block Trading Desk, Crypto Farm [staking] and OceanEX Vault are some of the features of OceanEX crypto exchange.
OceanEX exchange operates in the VeChain ecosystem and provides 19 cryptocurrencies to trade.
OceanEX Company Overview
OceanEX, a Luxembourger centralized exchange, began operations in 2018. It is owned by "BitOcean," with "Entropy Exchange" serving as its sister company.
OceanEX has its own native coin called “OCE”. Besides that, NFT marketplace of this exchange is a place where you can trade NFTs.
OceanEX Exchange Summary of Key Features
Table below provides a glance of OceanEX features and specifics:
Exchange | OceanEX |
Launch Date | 2018 |
Levels | OCE Club |
Trading Fees | 0.1% for Taker 0.1% for Maker |
Supported Coins | 19 |
Futures Trading | No |
Minimum Deposit | N/A |
Deposit Methods | VISA, MasterCard, SEPA, Cryptocurrencies |
Withdrawal Methods | VISA, MasterCard, SEPA, Cryptocurrencies |
Maximum Leverage | 1:1 |
Minimum Trade Amount | N/A |
Security Factors | Bank Level SSL, 2FA, Machine Learning Algorithms |
Services | OTC Block Trading Desk, Crypto Farm, OceanEX Vault |
Customer Support Ways | Live Chat, Help Center, Ticket, FAQ |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | OCE |
Restricted Countries | USA, China, Japan, Sudan, Syria, North Korea, Iran, Liberia, Cuba, Ivory Coast, Macedonia, South Sudan, Belarus, Congo, Zimbabwe, Central African Republic, Albania, Lebanon, Libya, Eritrea, Somalia, Myanmar, Yemen, Afghanistan, Iraq, Bosnia-Herzegovina, Burundi, Chad, Crimea, Venezuela |
What Are the Advantages and Disadvantages of OceanEX?
As a part of TradingFinder crypto exchange methodology, we will review OceanEX’s pros and cons:
Pros | Cons |
Easy to Use Application For iOS and Android | Only 19 Coins Available to Trade |
Lower Fees Compare to Other Exchanges | Limited Number of Support Channels |
Crypto Farm Service Offers High Interest Rate | No Demo Account |
High Security Using (Bank-Level SSL and Machine Learning Algorithms) | - |
OCE Native Coin with Various Benefits Such as Reducing Fees | - |
Is there any User Level in OceanEX Exchange?
Unlike some crypto exchange such as Binance and KuCoin, OceanEX doesn’t provide any tier-based user level. However, they have a premium plan called “OCE Club”.
OCE Club has special benefits for OceanEX’s native cryptocurrency holders. Some of the benefits of OCE Club include:
- High Discount: Up to 90% discount on trading fees
- Referral program pro: Up to 50% of the fees
- Crypto Farm: Product for OCE staking and to maximize earnings
- OceanEX GO: Filter and easy access to high quality projects
Commissions and Costs
In OceanEX crypto, there are two types of fees, which are:
- Trading Fees
- Deposit and Withdrawal Fees
Trading Fees
Stanard fees for maker and taker are 0.1%. The only way to reduce this fee is to join OCE club and use 90% discount on taker and maker fees.
Deposit and Withdrawal Fees
OceanEX does not charge any fees for deposit; But for withdrawals, you have to pay the blockchain fees.
This cost is not precisely known and is determined instantaneously based on network traffic.
How Many Coins and Tokens Are Available to Trade in OceanEX?
As of now, OceanEX exchange supports 19 coins:
- OCE
- VET
- BTC
- ETH
- SHA
- VTHO
- ADA
- LINK
- DOGE
- LTC
- XRP
Although the number of currencies seems very small compared to some exchanges, the interesting thing about OceanEX is the ability to trade assets with different currency pairs, including USDT and VET.
Futures and Margin Trading
Spot trading is the only way to trade cryptocurrencies in OceanEX. Thus, they don’t offer any futures and margin trading.
How to Register and Verify in OceanEX?
Registration is the first step to use OceanEX services. To sign up in 2 minutes, Follow the steps below:
- Visit OceanEX crypto website and click on “Sign Up”
- In the next step, choose country of residence, then write email and password
- Confirm the code that has sent to your email
- Congrats, registration is complete!
After sign up, you can deposit funds and start trading because KYC is not mandatory in this exchange.
Platforms and Applications (Download Link)
OceanEX has an Android and iOS application. This app allows users to easily manage their funds, trade crypto, and use all services, such as crypto farm, on their cell phones. OceanEX crypto app download link:
What Are the Security Measurements of OceanEX?
To keep users safe, OceanEX uses artificial intelligence and machine learning to detect cyberattacks and protect user assets.
They also use 2FA and Bank-level SSL technology to keep the site secure.
Payment Methods
In order to buy and sell crypto, you can deposit money via the methods below:
- VISA
- MasterCard
- SEPA
- Cryptocurrencies [BTC, ETH, USDT, etc.]
OceanEX Trust Score
OceanEX has not received ratings from reputable review websites like Trustpilot and Reviews.io. Even among aggregators, CoinMarketCap has not given the exchange a rating, and the only rating available is from CoinGecko.
As of now, the exchange has a trust score of 4 out of 10 on the CoinGecko platform, which is below average.
What Investment Option Are Available in OceanEX?
Only investment option available in OceanEX is staking [Crypto Farm]. But, only available coin for staking in this exchange is OCE and no other coins are available.
Upon thorough investigation, we found that the exchange held its last staking round on 2023/07/07, which lasted seven days and had an APY of 50%.
Expert Conclusion
Besides features like OCE club [90% discount, OceanEX GO, 50% Referral Program], android and iOS mobile apps, and NFT Marketplace, OceanEX crypto has disadvantages such as the limited number of coins [19]. Also, no demo account is offered by OceanEX Exchange.
