OKX Becomes One of the First Exchanges to List Ordi BRC-20 Token
- OKX is one of the first exchanges to list ORDI, offering low fees, withdrawals and fast transactions to the Bitcoin community
- With the new listing on OKX, ORDI traders will no longer have to face high network fees and long transaction times
HONG KONG, May 20, 2023 (GLOBE NEWSWIRE) — OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, has announced that it is one of the first exchanges to list Ordi (ORDI), a BRC-20 token that utilizes ordinals and inscriptions to create and manage one-of-a-kind digital assets on the Bitcoin blockchain.
OKX enabled ORDI deposits and withdrawals on May 20 at 10:00 (UTC), while the ORDI/USDT spot pair began trading on May 20 at 12:00 (UTC).
OKX’s move to enable ORDI deposits and spot trading marks a significant milestone for the Bitcoin community, as it solves a key drawback for users who trade ORDI on decentralized exchanges (DEXs). Traders who use DEXs to trade ORDI often face high network fees, and transactions can take anywhere from three minutes to as long as two hours. This makes it difficult to buy ORDI at market value.
Trading on OKX offers a significant advantage over DEXs due to the presence of an order book. This means users can sell ORDI at any time by being a taker. In contrast, when users want to sell ORDI on-chain, they can only list sell orders and wait for other users to complete the order. In addition, OKX users can trade ORDI with significantly lower fees and faster transactions, providing a more convenient way to manage their assets1.
OKX Chief Innovation Officer Jason Lau said: “OKX is at the forefront of introducing innovative and powerful capabilities that offer choice for Bitcoin and crypto enthusiasts. BRC-20 tokens on Bitcoin present a unique challenge, and we’re excited to be one of the first to offer users a seamless trading, deposit and withdrawal experience. This addition also shows our long-standing commitment towards the growth of the wider Bitcoin ecosystem.”
This announcement comes after OKX Wallet became the first multi-chain platform to enable the viewing and transfer of Bitcoin ordinals. OKX Wallet also recently announced that it is the first multi-chain wallet to support BRC-20 trading with the launch of its Ordinals Marketplace.
For further information, please contact:
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About OKX
OKX is a world-leading technology company building the future of Web3. Known as the fastest and most reliable crypto trading platform for traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume.
OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.
OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. OKX DOES NOT GUARANTEE THE PERFORMANCE OF ANY DIGITAL ASSET AND PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.
1 Note: Following the listing of ORDI/USDT, there may be delays in users’ ORDI reaching OKX due to network conditions.
