No Regulation

Score

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/10

OCEANEX

Bahamas

|

2-5 years

Suspicious Regulatory License|

Medium potential risk|

https://oceanex.pro/en

Website

Yesterday Vol
Rating Index
Influence

Influence

C

Influence Index NO.1

United Kingdom 2.53

Better than 97.00% exchange(s)

Biz Area

Search Statistics

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Social Media Index

Influence
C

Licenses

No effective regulatory information has been founded yet, please pay attention to the risks!

Exchange Info

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Company Name
OCEANEX
Phone of the company
--
Customer Service Email Address
info@bitocean.org

WikiBit Risk Alerts

1
Previous Detection 2024-03-29

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

Website

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Time Machine

White Paper

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New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

By company

$ 30.536m

$ 30.536m

35.31%

$ 17.809m

$ 17.809m

20.59%

$ 8.122m

$ 8.122m

9.39%

$ 3.415m

$ 3.415m

3.95%

$ 3.248m

$ 3.248m

3.75%

$ 2.503m

$ 2.503m

2.89%

$ 2.417m

$ 2.417m

2.79%

$ 2.391m

$ 2.391m

2.76%

$ 2.06m

$ 2.06m

2.38%

$ 1.887m

$ 1.887m

2.18%

$ 1.837m

$ 1.837m

2.12%

$ 1.664m

$ 1.664m

1.92%

$ 1.299m

$ 1.299m

1.5%

$ 1.231m

$ 1.231m

1.42%

$ 1.152m

$ 1.152m

1.33%

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Aspect Information
Company Name OCEANEX
Registered Country/Area Bahamas
Founded year 2017
Regulatory Authority Unregulated
Number of Cryptocurrencies Available over 130
Fees 0-0.1%
Payment Methods Cryptocurrency, Bank transfer, and Credit card
Customer Support Email and Live chat

Overview of OCEANEX

OceanEx, established in 2017 and headquartered in the Bahamas, stands as a dynamic cryptocurrency exchange offering a diverse selection of over 130 cryptocurrencies. Operating within an unregulated landscape, OceanEx is a platform tailored to the modern trader. With fees ranging from 0% to 0.1%, OceanEx's user-friendly fee structure contributes to a cost-effective trading experience. Supporting cryptocurrency deposits and withdrawals, as well as transactions via bank transfer and credit card, OceanEx provides a versatile array of payment methods to cater to users' preferences. In a continually evolving crypto space, OceanEx's expansive cryptocurrency offerings and adaptable payment options position it as a noteworthy contender in the world of digital asset trading.

Overview of OCEANEX

Pros and cons

Pros Cons
Low fees Unregulated
Good Liquidity Relatively new exchange
24/7 Customer Support Limited availability

Pros:

Low fees: OceanEx has low fees for both trading and deposits and withdrawals. This can save you money on your cryptocurrency transactions.

Good Liquidity: OceanEx has good liquidity, which means that you can easily buy and sell cryptocurrencies without having to worry about slippage.

24/7 Customer Support: OceanEx offers 24/7 customer support. If you have any problems with the exchange, you can contact customer support for help.

Cons:

Unregulated: The exchange operates without oversight or regulation from any official financial authority, potentially exposing users to higher risks due to the absence of established legal safeguards.

New exchange: OceanEx is a relatively new exchange. This means that it has not been around as long as some other exchanges, and it may not have the same level of experience and customer support.

Limited availability: An aspect worth noting is its limited availability, stemming from regulatory constraints in specific jurisdictions that prevent its accessibility in certain countries.

Regulatory Authority

OCEANEX operates under no regulatory authority according to the latest information addressed on WikiBit.

Unregulated exchanges do not have the same level of oversight and accountability. This can pose risks for traders, as there may be a lack of safeguards to protect against fraudulent activities or market manipulation. Additionally, unregulated exchanges may not have proper mechanisms to handle disputes or provide recourse for users in case of issues or losses.

Security

OceanEx has implemented robust security measures to safeguard user funds, such as cold storage for the majority of funds, reducing susceptibility to cyberattacks. The mandatory two-factor authentication (2FA) adds a crucial layer of protection, requiring users to input a phone-generated code along with their password for login.

In terms of security, OceanEx's offering extends to hacking insurance, promising reimbursement to users if a hack leads to fund loss. Adding a layer of assurance, the exchange's security measures have undergone scrutiny from a third-party security firm through audits, showcasing their commitment to maintaining a relatively secure environment.

However, OceanEx's relative novelty in the exchange realm raises questions about its security maturity compared to longer-standing platforms. The absence of major financial regulation could be a concern for investors, with potential implications for operational oversight. While OceanEx, like any exchange, faces hacking risks, their proactive security approach and track record of remaining unhacked to date offer reassurance within this dynamic landscape.

Security

Cryptocurrencies Available

OceanEx, a cryptocurrency exchange headquartered in Seychelles, presents a rich assortment of over 130 cryptocurrencies for traders to explore. In addition to widely recognized options such as Bitcoin, Ethereum, Tether, Litecoin, and XRP, OceanEx offers an array of altcoins, also known as “alternative cryptocurrencies”. These lesser-known digital assets, distinct from mainstream giants like Bitcoin and Ethereum, provide traders with diverse choices and potential opportunities. OceanEx's expansive cryptocurrency selection resonates with its mission to accommodate traders of varying strategies and risk preferences, rendering it a dynamic platform in the ever-evolving crypto landscape.

Cryptocurrencies Available

How to open an account?

The process is simple - access the website, complete the registration process in 4 quick steps, and start trading as below.

 open an account

Fees

For taker orders, the fee is 0.1% of the order amount.

A maker order is an order that is placed on the order book and remains unfilled until a matching order is found. A taker order is an order that is placed and immediately filled by an existing order on the order book.

By charging a lower fee for maker orders, OceanEx encourages users to add liquidity to the exchange. This benefits all users by making it easier to buy and sell cryptocurrencies.

Here is a table of the taker and maker fees for OceanEx:

Trading pair Taker fee Maker fee
All trading pairs 0.10% 0%

Payment Methods

Payment methods

OceanEx supports the following payment methods for deposits and withdrawals:

- Cryptocurrency: You can deposit and withdraw cryptocurrencies to and from your OceanEx account. There are no deposit fees for cryptocurrency deposits. Withdrawal fees vary depending on the cryptocurrency being withdrawn.

- Bank transfer: You can deposit funds to your OceanEx account using a bank transfer. There is a 1% deposit fee for bank transfers. Withdrawal fees vary depending on the bank and the currency being withdrawn.

- Credit card: You can deposit funds to your OceanEx account using a credit card. There is a 3% deposit fee for credit card deposits. Withdrawal fees vary depending on the credit card company and the currency being withdrawn.

Withdrawal fees

The withdrawal fees for cryptocurrencies on OceanEx vary depending on the cryptocurrency being withdrawn. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, while the withdrawal fee for Ethereum is 0.008 ETH.

The withdrawal fees for bank transfers and credit card withdrawals vary depending on the bank or credit card company and the currency being withdrawn.

Payment Methods Cryptocurrency Bank Transfer Credit Card
Deposits Fee (%) 0% 1% 3%
Withdrawals Fee (%) Varies Varies Varies
Processing Time Instant 1-3 Business Days 1-2 Business Days

Processing time

The processing time for deposits and withdrawals on OceanEx varies depending on the payment method. Cryptocurrency deposits are typically processed instantly, while bank transfer deposits typically take 1-3 business days to process. Credit card deposits typically take 1-2 business days to process.

The processing time for withdrawals also varies depending on the cryptocurrency being withdrawn. For example, Bitcoin withdrawals typically take 10-30 minutes to process, while Ethereum withdrawals typically take 15-30 minutes to process.

Processing Time Cryptocurrency Bank Transfer Credit Card
Withdrawals 10-30 minutes Varies Varies
(Time Estimate) 15-30 minutes Varies Varies

Educational Resources

OCEANEX provides educational resources and tools to help users enhance their understanding of virtual currency trading and make informed decisions. These resources may include blog articles, guides, tutorials, and informative videos that cover various topics related to cryptocurrency, blockchain technology, and trading strategies. Additionally, the platform may offer analytical tools, charts, and market data to assist users in analyzing market trends and making well-informed trading decisions. By offering these educational resources and tools, OCEANEX aims to empower its users with the knowledge and tools necessary to navigate the virtual currency market effectively.

Is OCEANEX a Good Exchange for You?

For Beginner Traders:

OceanEx holds promise for novice traders with its user-friendly interface, allowing a smooth introduction to cryptocurrency trading. Its low fees for transactions, trading, and deposits enable beginners to navigate the market with minimal financial burden. Moreover, the 24/7 customer support ensures prompt assistance for those new to the exchange, assuaging potential concerns.

For Experienced Traders:

Experienced traders can find OceanEx advantageous due to its good liquidity, facilitating seamless execution of trades without significant slippage concerns. The platform's low fees further contribute to cost-effective trading. While the absence of regulatory oversight may raise concerns, experienced traders might appreciate OceanEx's straightforward fee structure and accessible customer support.

For Cryptocurrency Enthusiasts:

OceanEx provides a vibrant environment for cryptocurrency enthusiasts to engage with a diverse array of digital assets. With its good liquidity, enthusiasts can navigate various trading pairs with ease. The low fees amplify the appeal of OceanEx, enabling enthusiasts to actively explore the market without substantial financial constraints. However, it's essential to note that the exchange's lack of regulatory compliance might give pause to those valuing a more regulated environment.

For Investors Seeking Regulatory Compliance:

Investors seeking regulatory compliance may approach OceanEx with caution due to its unregulated status. While the exchange offers good liquidity, low fees, and 24/7 customer support, the absence of established legal safeguards could pose concerns for risk-averse investors. The limited availability stemming from regulatory constraints may further limit its appeal to investors seeking a more regulated trading environment.

Is OCEANEX a Good Exchange for You

Conclusion

OceanEx presents a compelling option for cryptocurrency enthusiasts, offering several notable advantages. The exchange boasts commendably low fees for both trading and deposits, providing potential cost savings for users engaged in cryptocurrency transactions. Its robust liquidity ensures hassle-free buying and selling, minimizing concerns about slippage and enhancing trading experiences. Furthermore, OceanEx's commitment to customer service is evident through its 24/7 support, ensuring users can seek assistance whenever needed.

However, the platform does present a set of challenges that warrant consideration. Operating without regulatory oversight, OceanEx poses a potential risk to users, lacking the protective framework provided by official financial authorities. As a relatively new player in the field, OceanEx may lack the extensive experience and refined customer support mechanisms of its more established counterparts. Additionally, its limited availability due to regulatory constraints in specific jurisdictions could limit accessibility for potential users.

In summary, OceanEx's combination of cost-efficient fees, liquidity, and around-the-clock customer support could make it an attractive choice for certain traders. Yet, prospective users should weigh the benefits against the risks of an unregulated environment, the platform's newer status, and its limited geographical availability.

FAQs

Q1: Can I trade NFTs on OceanEx?

A1: Currently, OceanEx does not offer NFT trading, but they plan to add this feature in the future.

Q2: Where is my money stored on OceanEx?

A2: Your funds are stored in cold storage, which is offline and secure from online threats. OceanEx also employs measures like two-factor authentication and withdrawal limits for added security.

Q3: What rewards can I earn on OceanEx?

A3: OceanEx provides various rewards, including referral commissions (up to 20% of trading fees from referrals), trading rewards, and occasional cryptocurrency airdrops.

Q4: Which countries are restricted from using OceanEx?

A4: OceanEx is restricted in several countries, including Afghanistan, Iran, North Korea, and more.

Q5: Is KYC verification necessary to use OceanEx?

A5: Yes, you need to complete KYC verification by providing personal details like your name, address, and date of birth before trading on OceanEx.

Q6: What is the minimum deposit required on OceanEx?

A6: The minimum deposit for OceanEx is $50.

User Review

User 1: OceanEx, in my experience, is a real gem when it comes to cryptocurrency trading. The low fees for trading, deposits, and withdrawals are a major plus, making every transaction cost-effective. I've found their liquidity to be solid, ensuring smooth and hassle-free trades without worrying about slippage. The round-the-clock customer support has been a lifesaver—no matter the hour, they're ready to assist. The only downside I've noticed is the lack of regulation, which might raise some eyebrows in terms of security. Still, the overall experience has been positive, with OceanEx emerging as a cost-efficient and user-friendly platform.

User 2: I recently joined OceanEx for my crypto trading needs, and it's been a mixed bag so far. On the bright side, the low fees across the board have made trading affordable, and the platform's liquidity has saved me from unexpected price changes during trades. The constant availability of customer support is a great feature for resolving issues. However, I have concerns about the lack of regulation—trading on an unregulated exchange feels risky. Being a relatively new player in the market, OceanEx might not have all the kinks ironed out, which can sometimes lead to a less polished experience. Plus, the limited availability in certain regions adds another layer of complexity.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.