OKX is headquartered in Hong Kong, with over 350 cryptocurrencies listed on the platform and over 500 trading pairs.
All OKX Reviews echoes a grateful tone for the platform as it goes beyond its sister company, OKCoin, by providing options, spots, derivatives and leverage. OKX is considered one of the best platforms for beginners. The user interface is simple to use and easy to understand. Multiple payment options like bank transfer, card payment, and Google Pay make it a good contender for experienced merchants.
OKX has encountered issues with its hardware due to over-reliance on a single cloud service provider. As a result, customers could not deposit and withdraw their tokens on the platform. The service has been rectified with measures planned for the future. Clients will be able to deposit and trade ETH, BTC, USDT, TRX, USDC and other TRC20 and ERC20 tokens on December 19, 2022 at 04:00 UTC.
Services were interrupted for hours longer than expected. This caused inconvenience to people whose orders were open for execution. A positive note is that the funds are completely safe. If they notice any abnormality, users can contact the support team to report the issue. The team is currently addressing these issues as a priority.
OKX has announced a pre-order window of 20 minutes before normal trading hours. Users will be able to place or cancel pre-orders and add margin funds. Regular trading hours will follow the pre-order window, allowing all users to deposit and withdraw their tokens. There is no announcement on the revision of trading hours.
Moreover, the problems are mainly due to the use of a single cloud. However, multi-cloud usage must take place so that discrepancies do not reoccur. However, it must be ensured that the basic services are deployed in several stages. In addition, it will ensure that the chances of problems are greatly reduced. Therefore, any problem at a single cloud service provider will not affect the core and OKX services, and the overall service will run efficiently. Additionally, the multi-cloud rollout plan is waiting to be officially announced through OKX’s channels.
Users experiencing connection issues while canceling their order or doing any other activity are encouraged to open a helpdesk. However, this is only subject to the loss suffered due to the connection problem. The details shared will allow the team to look into the matter. If so, the platform will take full responsibility for the loss suffered by a customer.
The outage did not affect the OKX Web3 wallet and other related services. Reliance on a single cloud service provider has proven inefficient for the platform. The team therefore plans to expand its cloud base by implementing a multi-cloud deployment strategy.
As the name suggests, all core services will be split between different cloud service providers so that a technical issue in one won’t affect the others. The objective is to ensure the sustainability of services. More details on the deployment of the Multi-Cloud strategy are awaited.
Customer service, currently deployed by OKX as a priority, is available 24 hours a day, 7 days a week. Deposit and withdrawal services will resume on December 19, 2022. Some tokens will go live at 4 a.m. UTC, while others will take 3 hours longer. Transitioning to a multi-cloud strategy will take time, and the team is on their toes to ensure no discrepancies arise.