Okcoin Review: Pros, Cons, and More The Ascent by Motley Fool

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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. Finally, Okcoin allows users from almost the entire world to join their platform and invest in crypto. You just have to sign up, submit the required documents, verify your identity, and you will be good to go.

This is especially beneficial for the investors not interested in picking up existing orders from the order book. Like the limited language offerings, some users also find the small set of cryptocurrencies available on the platform offputting. OKCoin’s supported currencies appear downright meagre next to the constantly expanding crypto lists of its competitors. Our OKCoin review will evaluate one of the most popular exchanges on the market today in light of these fantastic foretellings. We’ll take a look at its pros and cons and whether it’s the right platform to help youget in on the Bitcoin action. If you’re looking to find the best and safest cryptocurrency exchanges available, read this OKCoin review.

Trading Platforms

This is a strong competitive edge in the market and distinguishes OKCoin from most other top crypto exchanges. The Okcoin exchange offers more than 30 trading pairs with advanced features to beginners as well as high-volume traders. For deposits and withdraws of fiat and digital currencies, only bank transfer and crypto wallets are available. That means you can’t add or withdraw funds through e-commerce services or bank cards. That said, withdrawals fromPrime Trustcome with a hefty $35 fee per transaction. This Nevada-based financial company entered the crypto custody arena in July of 2018, offering custody services for any token issued under theERC-20 standardon the Ethereum blockchain.

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. They list coins earlier than alot of exchanges I was able to buy on here weeks if not months before some of the others.

You can buy, sell, and trade over 75 cryptocurrencies on Okcoin. That’s a strong lineup, and it gives you plenty of different projects to invest in, from the biggest cryptos on the market to those that are still working their way up the list. All of the foregoing are of course implemented to ensure maximum security.

  • Take a look at the OKcoin Supported Assets page to find out which cryptocurrencies are available.
  • In the trade desk you can monitor charts, get quotes, and place orders with advanced controls.
  • You pay a taker fee on orders that are filled immediately and a maker fee on orders that aren’t.
  • Read our detailed Okcoin review to find out more about it.

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. We keep your deposits safe through offline storage, 24/7 transaction monitoring, and multi factor encryption. With the best uptime in the industry, you’ll be able to trade when the market is hot. Your trading fees are determined by trailing 30-day volume.

How to Use the Okcoin Exchange?

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 reportedly transacts over 16 million Bitcoin per https://forex-reviews.org/ month. The exchange is also the first in the United States to let you purchase Bitcoin in satoshis, the smallest Bitcoin unit. Some investors prefer this over buying a tiny fraction of a Bitcoin.

We’re proud of our content and guidance, and the information we provide is objective, independent, and free. OKCoin utilizes their very own proprietary web-based trading platform. A limit order is an order to sell or purchase any amount at a particular price or even better.

Despite these far-ranging choices, the OKCoin exchange proves simple to learn, navigate, and use. 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. Needs to review the security of your connection before proceeding. As a matter of policy, BBB does not endorse any product, service or business.

okcoin review

Okcoin exchange is among the best digital asset trading platforms. Through this short guide, we will highlight its features and how to use Okcoin. Crypto enthusiasts worldwide use the service, and most customers appreciate its ease of use, varied features and products, and high level of security. These three reasons alone have garnered the company countless positive reviews online.

Popular Tokens

Okcoin exchange supports payment options such as Bank Wire Transfer, SEPA, ACH, Etana, Epay, PrimeX, Silvergate, Credit Card and Debit Card to deposit funds to the platform. Within the United States, credit cards are not allowed, however, a debit card is permitted. A wire transfer from a local bank is a safe and reliable method that takes between 1 and 2 business days to clear. One of the longest-serving and most traded crypto exchanges for Bitcoin is Okcoin. The exchange offers a safe environment for beginners, investors and traders that want to buy and sell digital currencies. In this review, we will break down its most important features and evaluate its trading fees, security and customer support.

okcoin review

Lastly, spot trading is where you will get access to the most trading pairs, and you can simply place your orders to get started. With Okcoin, users can access okcoin review the mobile app on iOS and Android devices. The best thing is that users don’t really have to compromise on their trading experience when using mobile apps.

Cryptos (

When trading futures, traders incur a 0.03% on open positions. They charge 0.20% for takers and discounted trading fees of 0.10% for makers. Okcoin Withdrawal fees are charged at 0.10%; however, Litecoin and BTC have no withdrawal fees.

We support a direct API code import for many centralized exchanges, while others may require a CSV import. You’ll also notice that the list of services for trading is also short. You must bear in mind that OkCoin exchange was designed for token exchange and trading alone. You’ll also need to give your first name, last name, nationality, and the passport information when prompted.

They include an intuitive mobile app that permits users to access the platform. To make the image more unprejudiced, we will show the disadvantages of the platform, too, which usually appear in the feedback from traders. The version of the website are just in Chinese, Hongkongese and English.

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. Taker fees on the Okcoin trading platform are 0.20 percent, in line with the industry average. The exchange offers discounts to the makers, which brings down the maker fees to 0.10 percent.

The time it takes for the deposit to become available varies. In general debit and credit card deposits are available instantly, and other payment methods take between 1- 2 or 1- 5 business days. Silvergate ACH is also available instantly for US customers. OKCoin is the largest Bitcoin exchange in the world by volume with over 16 million Bitcoins transacted per month. The cryptocurrency exchange is based out of Beijing, China and was founded in 2013 by a highly technologically experienced individual known as Star Xu.

As for the slipping fingers, we ask all of our users to confirm the details before they make a purchase/trade, so you may be having a personal account issue. Feel free to send us a direct message on Twitter @okcoinhelpdesk and we’d be happy to take a closer look. Network updates can sometimes take several weeks to be completed. However, it is unusual for the upgrade to take one month and still not be finished. In order for us to help you with your withdrawal, please feel free to reach out to us at and we’d be happy to take a look. Deposits can be made in the local currency through the instant transfer option from the bank a/c.

If you want your crypto to earn you more crypto, then you can check out the Okcoin staking program and see if the returns are worth it for the time period. 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 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.

Institutional investors and market markers can also profit from the platform’s large order sizes and iceberg orders if they want to cloak their trades. Okcoin, not to be confused with Kucoin or OKEx , is a global cryptocurrency exchange, with a controversial past, but strong fundamentals. 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. Your situation seems very unusual considering that we don’t ask customers to pay income tax on cryptocurrency.

There are two verification levels that require different documentation and have varying limits for withdrawals. The ETH/USD, BTC/USD, BTC/EUR and the USDT/USD pairs are the most popular on OKCoin. Smaller altcoin trading pairs such as LTC/USD, LINK/USD and EOS have much lower trading volumes in the order book compared to Binance for example. For high net-worth traders and institutions, filling large orders on Okcoin without slippage can be an issue when trading low cap pairs. Otherwise, the volume on Okcoin is reasonable for buying the major cryptos with USD and EUR. Whether you’re an experienced crypto trader or brand new to bitcoin and ethereum, our Customer Support team is here to help.

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