Okcoin Review 2023 Fees, Facts & WARNINGS

The foremost aim of their Premier trading program is to help traders elevate their trading experience and make it better through their services. Note that you need to reach P1 tier status (trading volume over $100,000 in the last 30 days) to access Premier trading. While you might have to face a few hurdles getting your preferred crypto asset on other platforms, Okcoin offers a relatively simple and straightforward method to proceed with. If you want the fastest method to purchase cryptocurrencies on Okcoin, you can simply use credit or debit cards to buy the coin you like depositing first.

okcoin review

It took several weeks, and all responses were from foreign counties received in the middle of the night. You won’t be tied to your desktop when you want to make a trade. Instead, you can take Okcoin with you through a mobile app.

OKcoin likes keeping things simple, which is why there is just one basic personal account type that is suitable for all users and a corporate account option for businesses. It is important to note that different verification levels grant traders greater deposit and withdrawal amounts. Active traders can handle all of their trading needs in a low-fee, secure environment.

Cryptocurrency Exchange Script | ZodeakZodeak

After you’ve registered and verified your identity, you can fund your account with an ACH transfer, wire transfer, or a debit card payment. It also has a detailed help center and categorizes different types of cryptocurrency on its trading platform. If you want to check out major cryptos, decentralized finance projects, or stablecoins, you can quickly jump to those. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. To open an account at OKCoin, simply provide an email address and password to set up an account. You will then be required to submit identity verification information for deposits and withdrawals.

The OKCoin exchange does not offer as many cryptocurrency assets as many other cryptocurrency exchanges but makes up for it with the advanced trade types. The cryptocurrencies available for trading are Bitcoin, Litecoin, Ethereum, Ethereum Classic, and Bitcoin Cash, and they can all be traded against both USD and CNY. The OKCoin exchange may not be regulated, but that doesn’t mean it’s not reliable. OKCoin has proven itself to be a very trustworthy exchange and employs the latest security and encryption protocols for the protection of their users. BitMEX is a cryptocurrency exchange software product that utilizes peer-to-peer trading to maximize crypto coin profitability.

  • The cryptocurrency exchange is based out of Beijing, China and was founded in 2013 by a highly technologically experienced individual known as Star Xu.
  • The variety is not as wide as some other exchanges, but you can still get your hands on many assets that have the potential to grow in the future.
  • OKCoin accepts cryptocurrency deposits as well as USD and CNY deposits made via bank and wire transfers.
  • Lastly, spot trading is where you will get access to the most trading pairs, and you can simply place your orders to get started.
  • Open the trading section and click on the drop-down menu.

Over-the-counter tradingOnly after passing the extended verification, the minimum transaction amount of $10,000. Types of cryptocurrenciesBitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash, EOS, Tether, etc. With our referral program you can refer a friend and each of you can receive $10 in free bitcoin when they buy $100 worth of crypto using their local currency. The rating results published on Cointelligence are based on an independent rating system developed by the Cointelligence team. They do not reflect any official governmental approval or regulatory compliance. Receive the latest news about our cryptocurrency education courses, events, and guides.

The exchange offers discounts to the makers, which brings down the maker fees to 0.10 percent. This helps investors unwilling to pick up the existing order from their order book. The fee schedule has made Okcoin one of the most successful trading platforms globally, with a high trading volume. The low fees are unparalleled in the international market, especially in the Chinese market.

With so many crypto exchanges out there, is it hard to know which one offers the best security without overcharging for the right to buy and sell cryptocurrencies. Many professional traders ask a common question – Is Okcoin a scam? Sometimes, even a professional trader cannot mark the difference between a scam and a legit platform. However, Okcoin is well regulated by top regulatory authorities, and hence, it is not a scam. Okcoin is extremely reliable and secure with transparent terms of services and a positive step to enhance customer satisfaction.

OKcoin Cares about the Industry

Hi Dylan, we would be more than happy to look into this and investigate the charges made on your account. If you could please send us a message on Twitter @okcoinhelpdesk, we can provide you with expedited support via our escalations team. Be careful when considering high-risk investments like cryptoassets & cryptocurrencies (e.g. bitcoin). Their value can go up and down significantly, without any warning. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. In addition to crypto trading, Okcoin also lets you earn interest on your crypto holdings by staking or lending them.

There are tons of crypto exchanges that restrict users from several continents from joining due to various reasons. Only a handful of platforms offer their services to almost the entire world, and okcoin review Okcoin is one of them, supporting users from over 190 countries. It does not matter if you are from the US, Asia, Africa, or Europe, there is a high chance you can set up an account with Okcoin.

okcoin review

They list fewer coins than major exchanges but compensate with advanced trading features. There is a lot of outdated info and misinformation about their exchange, which we have fact checked for this article. Here we will cover Okcoin’s pros and cons, fees, features, cryptos listed, and everything you need to know before you sign up. Okcoin https://forex-reviews.org/ exchange is extremely user-friendly and gets the trading done in just a few clicks. But before you start to deposit or withdraw money or funds, you have to register or sign up for one account, either corporate or personal, to get access to Okcoin. On completion, link your bank a/c with the newly made Okcoin a/c for easy exchanges.

If you regularly trade cryptocurrency, you’ll realize that security is a constant concern. The last thing you want is for someone to access your account and wipe out your stash. Internal wallets are only for 3rd party services and businesses using the wallet infrastructure of Okcoin. After entering the wallet address, you may enter an address tag, if needed, then submit the withdrawal request.

Not only that, he also founded another popular crypto exchange, Okex, a year after he founded Okcoin. The biggest drawback to using OKcoin is its lack of asset support. How OKcoin has grown and evolved from its early days is truly impressive, and I highly respect what the team is doing. But it is more than just what is best for the customers.

If your trading volume is less than $100,000 per month, you pay the highest fees. However, even those fees only range between .10% and .20%, depending on whether you’re a maker or a taker. Additionally, you might have to pay another fee based on your payment source. Okcoin offers access to more than 20 cryptocurrency pairs and is available in many countries around the world, including the U.S.

Okcoin Trading Platform

This number is relatively low compared to many of the large crypto exchanges in the world. Having only a single market to focus on while trading can be a massive disadvantage for professional or even beginner traders in today’s world. But if you are trading with Okcoin, you will get several markets to choose from. While the market diversity at Okcoin is not the greatest, they still offer options that are versatile and can enhance your experience. OKcoin has undertaken a challenging mission and is dedicated to being a cost leader in the space.

For answers and feedback, email us at 24/7 support is available in English and Mandarin. Okcoin is a safe and secure platform, and there is no danger in using their services. They use the latest security encryption along with account security methods to provide the best possible safety to their users. Wants to go through the hassle of understanding a complicated platform or exchange just to use the services.

If you’re still waiting for an update, you can reach them directly at and they’d be happy to expedite a solution for you. The exchange offers what it calls trading accounts and funding accounts. This is a way of separating funds you want to use for active trading and funds you want to store. Money and cryptocurrency you want to trade must be in your funding account, whereas withdrawals can only be made from your funding account. You can move funds between these accounts at any time instantly and free of charge.

Is Okcoin legitimate?

Kraken might be a good choice for advanced traders with a lot of cryptocurrency knowledge and experience. Coinbase offers access to a wider variety of coins, and makes it even easier to fund an account. Coinbase might work better for beginners and those who are more interested in buying and holding cryptocurrency. Coinbase has higher fees, but they could be worth it for the simplicity.

All products and services are presented without warranty. Deposits can be made in the local currency through the instant transfer option from the bank a/c. No Okcoin fees are charged on instant transfers, and the funds are generally available to every basic user immediately. Level 2 Verification – Deposits and withdrawals up to USD 50,000 permitted per day for personal a/c and up to USD 500,000 per day for corporate a/c.

As a new investor, you’ll have quick access to extensive cryptocurrency resources to learn within the platform. When you are ready to buy your first crypto assets, the easy-to-follow prompts will guide you through the process. Okcoin is both safe and legit when exchanging cryptocurrencies since they utilize the latest and advanced encryption technology to secure the website from professional hackers. This thief company told me I can only withdraw my money after 6 Months. I disputed my transaction and my bank was able to get the money back and credited my account.They dont have rights to hold anyone money over 6 months. I hope people read this review before they deposit any money.

Just for reference, the highest interest rate users can earn on Okcoin at the time of writing is about 14%. It definitely is a lot higher than anything a bank would offer. Okcoin is integrated with plenty of features and options that do a great job offering users an experience they want. If you want to know what services Okcoin provides and whether it would be your first-choice crypto exchange, you can feast your eyes on the points mentioned below. OKCoin is a digital asset trading platform, established in 2013 by Star Xu in Beijing, China that offers fiat trading with cryptocurrencies for individuals and professionals. Their mission is to create an efficient, reliable and secure platform that removes any trading barriers globally.

They are one of the only exchanges that offer FDIC insurance for USD deposits. As with deposits, you can withdraw up to 0.1 BTC free with the lightning network. You can also transfer to other accounts, transfer crypto to an external wallet on-chain, or transfer using the AVAX and Polygon protocols. It is possible you will have to verify your account to withdraw money if you didn’t when you deposited. For example if you are from the US and deposit less than $500 but you make a profit and your account balance is greater than $500 you will have to verify your identity to make the withdrawal. Their fees depend on your payment method and transaction volume.

Are There Any Fees?

Dear users, According to the European Unions regulations, all Okcoin users have to agree to the following User Agreement to continue to user the website. Get an overview of our staking and DeFi offers and how they work. We keep your deposits safe through offline storage, 24/7 transaction monitoring, and multi-factor encryption. Create your free account with a quick verification process. OKCoin exchange is officially registered in Beijing, China, and the subject to the jurisdiction of this country. The international representative office of the company is located in Hong Kong.

What Is Okcoin Exchange?

We make it easy to learn about and buy your first crypto assets. It is a Margin Trading Service that invests your money and when they lose, they clayback your account to pay for the over charge lose. The platform has no educational resources to speak of, other than an FAQ, new releases, and tutorials on how to use the features. You can click on the “about” in the trade view under a coin and it will give you a short blurb about the coin, some statistics, and a link to their website. They are not regulated under any federal regulatory agency, but they are registered as money transmitters in the US, Malta, and the Netherlands along with a number of other countries. They are not registered to trade coin for coin in all jurisdictions.


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