Where OKB is Accepted Locally and Globally
This exchange token powers OKEx, one of the top crypto exchanges. Having reached a redoubtable top 100 CoinMarketCap ranking and respectable token price, OKB is accepted by businesses as a form of payment from an Illinois-based business attorney to a Saudi Arabian hosting company.
Who accepts OKB…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
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Should you buy OKB?
If you’re going to trade on OKEx, it’s a no-brainer; holding OKB gives you a 40% discount on trading fees. Exchange tokens like OKB and Binance’s BNB are real players in the altcoin arena, these tokens are the fuel of these exchanges. It’s a deflationary crypto as they regularly buy back or “burn” OKB, sending it to a black hole address. Since its inception in 2019, there’s been an upward trend in its value. I would expect moderate gains year-over-year from holding (and stacking) a utility token like OKB as exchanges grow in popularity…
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However, it has a 4.76/10 credibility score on Isthiscoinascam.com, which reflects the lack of published whitepaper, public team backing the coin, and lackluster community support.
While they are based in the Seychelles, OKEx is a Chinese exchange so the sword of Damocles of heavy-handed Chinese regulation is ever-dangling over whatever investments you might have with them.
Cryptocurrency exchanges flying flags of convenience is sure to annoy China’s regulators and may no longer be a viable business strategy… OKEx, one of the biggest cryptocurrency exchanges in the world, suspended its token withdrawal services to its customers after its founder — Star Xu — was detained by police without a clear reason… [He] has also been released from police custody and has posted a notice in his WeChat feed, saying that he has been cooperating with authorities about an investigation into an equity merger of his blockchain company, OK Group.
From the alarming article, China’s OKEx crackdown is a warning shot to other crypto exchanges.
We burn OKB tokens regularly to reduce supply. This boosts the value and encourages you to hold tokens. We use 30% of the income from OKEx spot trading fees to buy back OKB from the 300 million in circulating supply. Every 3 months, we burn tokens by sending them to a burning address that nobody can access.
OKB is a global utility token issued by OK Blockchain foundation. It is a token economy system designed and launched by our world-class development team based on blockchain technology. OKB is set to connect prospective digital asset projects to OKEx users as well as professional investors, creating an OKEx ecosystem that helps to advance the development of blockchain technology and the digital asset industry. — from the only excerpt of the OKB Whitepaper that I could find online