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Bitcoin Exchange OKCoin Releases New Trading Interface and P2P Lending

Last Updated March 4, 2021 4:42 PM
Clay Michael Gillespie
Last Updated March 4, 2021 4:42 PM

Bitcoin Exchange OKCoinChinese bitcoin exchange OKCoin released their full-screen trading interface today. According to the bitcoin exchange, the interface was designed for futures as well as the new addition of person.-to-person lending.

The full-screen view is reminiscent of what someone is watching candles on BitcoinWisdom might be accustomed to, but allows for direct trades on OKCoin.

To the non-trader, the charts, graphs and order books might look a bit overcrowded as the bitcoin exchange fits all market information into their interface for a single glance looks. But to the trader who’s been in the game long enough to understand the lingo and mathematics behind bitcoin trading, the layout looks like a playground; even providing drawing tools.

Bitcoin Exchange OKCoin 2.jpg

Also read: Four Charts That Suggest Bitcoin Value Could Be At 10,000 USD Next Year

OKCoin Bitcoin Exchange Opens Person-To-Person Lending

Another facet of OKCoin’s new layout is person-to-person lending. Traders can choose a loan at an interest rate for the duration of their choosing. According to OKCoin, traders are afforded 2.2 times to three times leverage depending on their VIP level.

“OKCoin hopes the launch of P2P lending will increase the liquidity of their USD spot market as it increases the amount of bitcoin being traded on the exchange,” the bitcoin exchange said.

BTCJam is another company offering person-to-person loans with bitcoin, but not from a trading platform. Bitfinex is also a bitcoin exchange offering person-to-person lending, and was the first lending platform for leverage trading.

OKcoin’s new lending market supposedly automatically matches suitable loans with borrowers to provide them with their most preferred terms, all from their new interface. Loan durations last from three to 360 days after the specified interest rate is determined.

OKCoin has seen significant demand for this feature and expects significant usage, as they have stated in the past that there is a waiting list for users to loan on OKCoin.cn,” the bitcoin exchange said. “Such upgrades and innovation with trading tools offered at OKCoin.com aim to develop a seamless trading experience, with a strong focus on transparency and visibility of information for all traders.”

Photograph from Pixabay, OKCoin, and Shutterstock.