Okcoin Review 2023: Features, Fees & Security

May 2, 2022 0 Comments

The US dollar or USD is the only acceptable currency for deposits, which can be deposited in 2 ways – bank transfer & wire transfer. The transfer fee for individual users is 0.1 percent of the transferred amount, whereas, for corporate users, the transfer fee is zero. Withdrawals in USD are possible through bank transfer or wire transfer; both cost a 0.10 percent fee along okcoin review with a minimum fee of 15 USD. Okcoin 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.

No matter how advanced technology gets, people will still need proper guidance and learning material to understand things better. Things can get even more complicated when we start talking about cryptocurrencies and the blockchain. If you are a newbie or an amateur and do not know where to start, Okcoin will assist you with the learning center, filled with guides, posts, and plenty of informational content.

You can review your funding transactions by finding the deposit history in Token Deposit. To secure their assets on the website, https://forex-reviews.org/ traders have to verify their identity. Unless you finish the verification process, you cannot add funds to your account.

Okcoin has built a platform that prides itself in providing the highest security measures. But you don’t have to pay an arm and a leg for the opportunity to make trades through Okcoin. Let’s take a closer look at what Okcoin is and what it offers users like you. This website includes information about cryptocurrencies, contracts for difference and other financial instruments, and about brokers, exchanges and other entities trading in such instruments.

You can move funds between these accounts at any time instantly and free of charge. Launched in 2013 and available in over 190 countries, Okcoin is one of the world’s oldest and most popular crypto exchanges. 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.

It took several weeks, and all responses were from foreign counties received in the middle of the night. 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. At The College Investor, we want to help you navigate your finances.

okcoin review

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. In the earn tab you can purchase and start staking defi protocols like STX, AVAX, and MATIC for up to 20% APY. However, they have stopped trading in CYN and during Chinese tech crackdowns have halted operations in the past. Depending on your country’s regulations you have to verify for different deposit amounts.

I received an email from Okcoin stating “all my documents had been received and account was verified”. We recommend researching a wide range of sources before using these services. It was founded by Star Xu in 2013, who is currently the CEO. Select the type of order you want to place from the order bar and choose whether you want to purchase or sell.

Join the fastest growing global cryptocurrency exchange — with the lowest fees around. We review and compare the popular cryptocurrency exchange to find out if its a legitimate and safe platform to use. Please make your own debit card for customers to use like Bitpay, Voyager, and Coinbase. If you add this this would become my number one used crypto app. Buying Bitcoin, Ethereum and other cryptocurrencies with credit and debit cards is available in most countries outside of the US.

The name used in the bank and Okcoin accounts should match, or else they will not be linked. 2FA is 2-factor authentication, a security method used to confirm the claimed identity of any user by using a combination of 2 different factors. So, get this 2FA by going to the Security section and select Google Authenticator. Scan the given security barcode, insert the numbers and Confirm. The default buy/sell tool is straightforward and perfect for beginners who want to trade crypto without getting overwhelmed.

How Okcoin works

OKCoin is the perfect exchange for experienced traders as they offer traders a variety of advanced trade types. Traders can participate in margin trading, futures, place Iceberg orders, trailing stop orders, and TWAPs. 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. We never withhold funds without a proper reason from our risk team.

Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. The fee structure imposed by OKCoin is very low for both the Chinese and International markets. The trading fees are based on a sliding scale that refers to monthly volume on the exchange. Maker fees are non-existent, while taker fees vary but drop as trading volume increases, (taker fees range from 0.20% – 0.10%).

This table does not include all companies or all available products. Neither Bankrate nor this website endorses or recommends any companies or products. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform.

There are also other features you can use on the app, or even just use it as a basic crypto wallet to keep track of your portfolio in one spot. The aforementioned points are what make Okcoin an excellent choice for traders and investors. Some users criticize the lack of live chat customer support, but I have found that if you run into issues you can always contact them via email and they will reply in a reasonable time frame. Okcoin is a cryptocurrency exchange that helps millions of people from all over the world to access different crypto assets easily and conveniently. Okcoin was founded by Star Xu, a man who came up with the idea of creating a crypto exchange back in 2013 in China.

Today, there are 78 million OKUSD in existence, a figure similar to Litecoin’s 105 million coins. Keep reading for our full analysis of OKCoin and whether you should consider it the place to buy and sell cryptocurrency. This veritable “digital gold” continues to drive the demand for cryptos, and it has earned legitimacy even as analysts continue to project it could reach heights of $100,000 or even $146,000 soon.

OKCoin Fees\r\n

At that point, you’ll create an account by entering your email and creating a password. I emailed Okcoin for help several times and they will not respond. 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.

okcoin review

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. 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. The higher their trading volume gets, the more the fees decline.

OKCoin Security

Receive the latest news about our cryptocurrency education courses, events, and guides. To sell, just go to the “Prices” tab, find the coin you hold, and click “Sell”. Specify the amount you want to sell and execute the trade. After you execute the order, the balance of your selected coin will be reflected in your “Dashboard” tab. To verify your identity at any point, just go to the profile icon and click “Identity Verification”.

  • It is also available as a download client for both macOS and Windows.
  • If you’re looking for a cryptocurrency exchange that offers multiple cryptos for online trading through exchange platforms, then OKCoin might be right for you.
  • Maker fees are non-existent, while taker fees vary but drop as trading volume increases, (taker fees range from 0.20% – 0.10%).
  • As with all cryptocurrency exchanges, there are some fees to be aware of.

Explore your other options in our guide to the top crypto exchanges. To compare apples to apples, you’ll want to look at Coinbase Pro and Gemini ActiveTrader, each of which target high-volume traders. At these levels, users can take advantage of each platform’s maker/taker fee structures which are more affordable than their standard fees. If you’re a regular trader on the platform with large trading volumes, you can tap into even lower fees.

Top 5 Exchanges

Access all tokenomy platforms using your existing Indodax credentials. Constant security reviews ensure a safe and secure platform for members. Full time support for all platforms at all times through various communication channels.

The user interface allows the coins to be arranged by price change to find the top movers for the day. If we specifically talk about what types of trading are available at Okcoin, you can spot trade, margin trade, or go with OTC trading. The best thing about OTC trading is that you can buy or sell any crypto asset you want without worrying about slippage. As for margin trading, the maximum leverage is 10x, and it will help you gain better exposure to the market and explore more trading options to easily better trades.

What is OKcoin?

Okcoins refuses to return my wire transfer after they closed my account for no reason. Completely Configured as combating against the malicious attacks, your crypto – assets are stored securely with the user-friendly interface, wallet and its infrastructure is highly protected. Users can instantly deposit or withdraw the INR, it takes just a fraction of a second. Make sure you are okay with the best rate on the market and the 0.25% service fee. Confirm the transaction and sign in/sign up with just your email to save your transaction history. Fast and secure way to exchange and purchase 150+ cryptocurrencies….

You can find most of the biggest coins here, from market leader Bitcoin to the popular altcoins. It also offers cryptocurrencies a lot of U.S. exchanges don’t, like Tron . The exchange also offers a discount to makers, who trade at a fee of 0.10%.

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