In either case, though, it is much cheaper than doing a credit card deposit. Once funds are in your trading or funding account, there are no additional fees. OKcoin uses security features like multi-factor authentication, SSL encryption, and AES encryption to protect its users. In addition https://forex-reviews.org/okcoin/ to offering these features, Okcoin stores most crypto assets offline in cold storage. It also conducts regular platform audits, implementing measures suggested by cybersecurity experts when needed. In some cases, Okcoin offers you the chance to earn other cryptocurrencies for staking.
Do remember that the network fee varies greatly depending on the market conditions. The mobile version of the exchange was designed for smartphones, both iOS and Android, which stands out in terms of overall navigability. Best of all, if you get stumped on an aspect of how the platform operates, sending a message to customer support via email or telephone is simple.
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Okcoin lets you buy, sell, and trade digital currencies. After you’ve registered and verified your identity, you can fund your account with an ACH transfer, wire transfer, or a debit card payment. Okcoin offers a referral program for inviting new customers to the exchange when they sign up using a unique link that can be shared on social media. The existing and referred user will both receive $10 in Bitcoin when they deposit or trade $100 or more using Okcoin.
Information is distributed in the upper menu and side tool panels, too. It’s one of the most user-friendly interfaces out there, with all of the tools you need divided up into three necessary tabs of information. Although OKCoin started in China, it has since made a move to the United States and is an American-based entity headquartered in San Francisco.
It is difficult to get my money back
Once the transaction is completed, the purchased asset will appear within the Okcoin wallet once the payment has cleared. The design of the web and mobile app is specifically tailored for ease of use and simplicity. In addition to the spot trading exchange, Okcoin has introduced a margin trading platform for its users to long or short-sell Bitcoin and other cryptocurrencies using leverage up to 10x. The available pairs that can be traded with leverage include BTC/USD, LTC/USD and ETH/USD. The globally regulated crypto exchange is supported in 192 countries worldwide with offices in 6 locations such as San Francisco, Hong Kong, Malta, Japan, Singapore, and Korea. The company behind Okcoin was founded in 2013 by Star XU, who is currently the CEO of the exchange which consists of 100+ employees worldwide.
The taker fees fall as the trading volume increases, while the maker fees remain zero. 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. This verification level requires a bank statement or utility bill as proof of residence and a photocopy of govt ID card or passport.
Who should use Okcoin?
Please feel free to send us a message on Twitter @okcoinhelpdesk and we’ll see what we can do to improve your opinion of the platform. My first introduction to OKcoin was watching an Alt Coin Daily video on Youtube. I decided to try OKcoin and was offered $20 of Bitcoin if I deposited $100 into my account. I emailed numerous times and OKcoin representatives confirmed that I was eligible for the offer, but just gave me empty promises that it had been forwarded to the technical team.
- This will include providing information about your nationality, full name, birthday, residence, and a government-issued ID.
- OKCoin is the first exchange to offer futures trading in BTC/USD pair and still has the largest liquidity.
- Kraken is another cryptocurrency exchange aimed at traders.
- After you’ve completed the first tier, Level 2 verification requires a photo ID; you will need to upload a picture of your government-issued passport, identity card, or drivers license.
- Cryptocurrency trading offered through Robinhood Crypto LLC.
- Additionally, frequent trading is generally riskier than a buy-and-hold approach.
Additionally, for more advanced traders, Okcoin provides a wide range of trade types, such as futures, margin trading, trailing stop, Iceberg orders, etc. We value account security and have several protocols in place to ensure the integrity of the accounts on our platform. We never withhold funds without a proper reason from our risk team. The security of funds on our platform is our top priority and we appreciate your patience while the team works to review your account. If you would like an update directly from the risk team, feel free to message them at and a team member will be happy to offer more insight. Hi Fabian, thanks for taking the time to detail your experience.
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When investing in cryptocurrencies, it’s essential to be aware of your limits and what you can afford to lose. In addition to allowing you to use your funding source and trading account, Okcoin also offers margin trading. This allows you to borrow money to leverage your position and potentially see bigger gains. However, you should be careful when trading on margin, as leverage might also magnify your losses. With Okcoin, you can buy cryptocurrencies using fiat currency, and you can also trade various pairs.
Please feel free to send us a direct message on Twitter @okcoin and we’d be more than happy to receive your feedback and help you in any way we can. We temporarily paused Arkadiko (DIKO) trading while we looked into some unusual activity. We immediately communicated this to our customers through email and social media posts.
Excellent exchange with excellent app.
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. As we’ve discussed in this OKCoin review, it provides traders with many handy trading tools, professional customer support, and educational resources. OKCoin is an excellent exchange for the advanced trading of some of the most popular cryptocurrencies on the market. The exchange is highly liquid and is trusted by many people from all over the world. The OKCoin trading platform is very responsive and beautifully designed.
We understand this can be frustrating, though safety and security of our customer’s assets is our top priority. OKCoin does not charge its users for crypto withdrawals. The only fee that the users have to pay while withdrawing crypto is the network fee.
Okcoin can serve modern-day traders quite well with their services and features. The inclusion of over 60+ popular crypto assets, along with the option to margin and spot trade, has definitely brought a lot of opportunities for traders and investors. If you are someone who has just entered the crypto world, you will find it easy to understand everything with the help of Okcoin’s guides, easy interface, and help center. In case you get into some trouble, you can submit a ticket and wait for their response to sort out the issue.
Sometimes it takes days to do a transaction, and in the world of crypto this takes too long. I am looking forward to the consistency of timely transactions. We would like to help get this resolved for you, but we will need more information in order to do so. Please reach out to us on Twitter @okcoin with a description of what seemed to happen and our escalations team will gladly work on a resolution. We’d be happy to offer you some help with whatever problems you may be experiencing and you’re more than welcome to message us on Twitter @okcoin.