OKcoin Review 2023 Accepted Countries, Payment Methods, Coins & User Reviews
The company’s locations include San Francisco, Malta, Hong Kong, Singapore, Japan, and Korea. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. It was founded by Star Xu in 2013, who is currently the CEO. Open the trading section and click on the drop-down menu.
There is no maximum order size, but they ask that traders or organizations with very large orders contact them. Also over the counter trading can be conducted off their books. Depending on your country’s regulations you have to verify for different deposit amounts. For example, US and Canadian customers can only deposit $500 before they have to verify their identity, while other geographies can fund up to $2500 before they have to verify their identity. Instead, because they have a broker dealer network, the price the trades are executed at depends on the type of orders available between the taker and maker.
95% of the funds held by OKcoin are kept in cold storage, away from hackers, and unlike many major exchanges, OKcoin has not suffered any known hacks to date. OKcoin works with external cybersecurity firms to address vulnerabilities and undertake regular security audits. They do not offer other markets like futures, options, or CFDs. The College Investor is an independent, advertising-supported financial media publisher, focusing on news, product reviews, and comparisons. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
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The most recent addition to the group is Hong Fang, who was announced as Chairman of OKCoin and Chief Operating Office of OK Group on 24 September 2019. Build your crypto portfolio, wherever you are with our web and mobile apps. From Stacks to Polkadot, get even more from the assets you hold with our staking and DeFi offers. Connect a bank account securely — well never retain your bank info.
It is available in over 190 countries and supports customization through API capabilities. If you are the manager of an organization shopping for a secure cryptocurrency exchange software solution, you’ll likely want to consider OKCoin. OKCoins special priority is customer support and satisfaction, wherefore transparency and reliable and fast support are key. OKCoin features one of the most advanced and stable trading platforms for the trading of Bitcoin and a select other few cryptocurrencies. The trading platform web-based and is geared towards more professional traders but at the same time is simple enough for beginners to use as well. The platform comes complete with an advanced chart that can be viewed in full screen.
Once your account is created, you’ll be logged-in to this account. After that, Okcoin will send you a verification code to complete the account creation process. From there, you’ll need to complete your identity verification. This will include providing information about your nationality, full name, birthday, residence, and a government-issued ID. Not only will you earn crypto as you use the platform, but you can also access a $10 sign-up bonus.
Their main target market is China/Asia, but they also accept global customers. OKcoin provides traders with advanced and straightforward trading types https://forex-reviews.org/ and technical analysis tools. The platform supports margin trading, futures, Iceberg orders, trailing stops, price alert notifications and TWAPs.
Pros and Cons of Okcoin
It will literally only take a minute or two, and you will have your hands on some crypto. Alternatively, you can deposit funds in your account beforehand, and trade it for the crypto you desire. OKcoin retains a deeply personal touch with their community, with many of their team members being available to be contacted through social media and are often keen to respond. It is refreshing to see a platform that cares so much about the crypto community by supporting the entire crypto ecosystem through funds and grants. It is not profit crazed, milking every bit of profit from its users like many other exchanges. Their support staff is friendly and professional, with much better response times than many other platforms.
On the date of last updating this review , OKCoin’s 24 hour trading volume was USD 1.7 million. This placed OKCoin on place no. 124 on the list of the exchanges in the world with the highest 24 hour trading volumes. On the date of last updating this review the 24-hour trading volume was more than USD 58.7 million, according to Coinmarketcap.
Its success is in large part because of extremely affordable trading fees and an intuitive design that’s great for beginners. Read our detailed Okcoin review to find out more about it. OKCoin excels in the area of customer support, especially for a cryptocurrency exchange.
Whatever the fee your affiliates pay to Okcoin, you will receive 30% of that fee as the reward, for an indefinite amount of period. While the amount might not seem that high, you can earn a good profit if you bring more traders, or ones who trade large amounts. While OKCoin takes care of their traders and investors by providing so many convenient options, the platform has a few flaws and negatives too. These negatives might not be a major deal, but they can still affect the experience of traders at some point. You can take a look and see if you should worry about them.
As with any investment, you have the potential to make money with Okcoin. Investing money could be one of the best ways to grow your wealth over time. However, how much you end up earning depends on the tokens you trade, your timeline, risk tolerance, okcoin review and other factors. We We will try to answer the puzzling question, if OKCoin is a scam or a reliable service, which allows getting profit trading cryptocurrenciesand withdraw funds quickly. All sensitive information you will get from this review.
- An Iceberg Order is one of the order strategies covering full-order size directly from the book of orders.
- Okcoin expanded the platform to include trading pairs with high liquidity provided by the hot wallet, profitable interest-earning schemes, and several altcoin markets.
- However you can always check the price by asking for a quote in the trade tab.
- Level 1 Verification – Deposits up to USD 2000 permitted per day.
If you’re still having problems, please don’t hesitate to send us a DM at @okcoinhelpdesk and our escalations team can take another look. I have not logged into my Okcoin account in the better part of a year. It was not me who provided documentation or tried to verify my account. You’d like to earn interest on your crypto by staking and lending it. Okcoin is especially well known as one of the best places to buy Bitcoin.
It is one of the world’s largest regulated digital asset exchanges, operating in more than 100 countries. Okcoin is headquartered in San Francisco and is used by millions of people to trade cryptocurrencies. Major investors for Okcoin include Giant Network, PreAngel, VenturesLab, Ceyuan Ventures, and Mandra Capital. We may receive compensation from the products and services mentioned in this story, but the opinions are the author’s own. Learn more about how we make money and our editorial policies. Whether you’re an experienced crypto trader or brand new to bitcoin and ethereum, our Customer Support team is here to help.
OKCoin Mobile Trading
However, it’s not the only platform that provides a secure and reliable experience. A few of the top competitors in the space include Coinbase and Gemini. Although the platform was primarily focused on Chinese and Asian markets for some time, it now accepts users from all over the world. Currently, over 100,000 active traders and investors rely on Okcoin to route their crypto transactions. Diving into the world of cryptocurrency can be confusing.
It is also created to meet the customers’ needs, such as having a mobile app to access the exchange platform. Additionally, for more advanced traders, Okcoin provides a wide range of trade types, such as futures, margin trading, trailing stop, Iceberg orders, etc. Transfer USD, EUR, or crypto and start trading on the leading global cryptocurrency exchange.
I’m not impressed at all, in fact I’m now hesitant to continue using your exchange since I can’t fully trust that my funds will be handled responsibly. You want to buy and sell crypto for some of the lowest fees on the market. Some of Okcoin’s competitors go into much more detail in their educational content and cover more subjects. If you’re looking for a platform that will help you expand your crypto knowledge, you may want to explore more crypto reviews. OKCoin utilizes their very own proprietary web-based trading platform. Needs to review the security of your connection before proceeding.
Top 5 Exchanges
Once the bank account is linked, select your account from the drop menu and then select the Okcoin account where the funds will be sent. Enter the amount and enter Submit to complete the method of dropping deposits. Notably, “deposits” mean transfers of fiat deposits from your bank to your Okcoin account. Worth mentioning, bank accounts added for instant transfers will not work for wire transfers. If you want to use your bank account for wire transfers, add your bank again and route info while creating the wire transfer.
Silvergate ACH is also available instantly for US customers. Keep in mind that these fees only apply to trades (i.e. transactions in which crypto pairs are exchanged). But if you’re looking to buy crypto, you may be charged a separate fee. But you’ll pay $0.99 to buy crypto with an instant ACH transfer.
FinanceBuzz and CardRatings may receive a commission from card issuers. After creating your account, you can then provide information confirming your identity, including your name, birthdate, address, and the number on your government-issued ID. You do need to connect a funding source so you can get started buying crypto. Okcoin is available in several countries, including the U.S. If you live in Hawaii, Indiana, Louisiana, Nevada, New York, or West Virginia, you won’t be able to open an account with this trading service.