A new cryptocurrency called OAX has recently been trending in the cryptocurrency space. The OAX crypto saw a rapid rise in price and then a steep 17 per cent fall, all over a couple of days. While the rest of the market was stagnant, the OAX price saw a significant rise and fall, which is the reason OAX has been trending a lot recently. Read on to know more about what is OAX crypto and should you buy OAX.
As per their official website, OAX is a blockchain network that aims to improve the digital asset ecosystem by increasing efficiency, improving transparency and promoting high standards of governance. The OAX network also serves as a decentralised digital asset exchange platform, or in simpler terms, a cryptocurrency exchange. OAX claims to combine the benefits of the current centralised exchange model with a more secure and anonymous decentralised exchange system.
As per their plans for this exchange, it would include features such as credit risk assessment, structured dispute resolution and collateralised deposit schemes. The purpose of adding these feature is to improve usability and at the same time empower users and their parties with more option, which is the main purpose of DeFi. As per CoinSwitch, the code of OAX is open source, so any blockchain developer can contribute to the development of the OAX network. OAX cryptocurrency is the currency that is used to make transactions on the OAX network. Many crypto experts believe OAX crypto is a good investment for the long term.
While OAX is a fairly new and unknown cryptocurrency, it's available for buying in many crypto exchanges. OAX crypto is available in crypto exchanges such as Binance, Qryptos, HitBTC and Coinswitch (International). Most exchanges use Bitcoin or Tether to trade OAX on their platform. HitBTC users can buy OAX directly with US dollars. Indian users can buy OAX by registering their account through Binance.