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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. This approach not only incentivises volume trading but also ensures that the exchange maintains an equitable environment for both high-volume traders and those with minimum thresholds.
- The withdrawal time from Okcoin can vary based on several factors, such as account verification status and the type of withdrawal method used.
- Please send us a direct message on Twitter @okcoin and we’d be happy to escalate this issue accordingly.
- These fees are determined by your 30-day trading volume and are charged based on the cryptocurrency that you buy.
- The fee schedule has made Okcoin one of the most successful trading platforms globally, with a high trading volume.
- They provide the services and products, such as cold storage, security encryption, and regular monitoring of withdrawals and deposits.
- Some consumers also lament the exchange’s rigorous two-step verification procedure, which is mandatory.
Unless the verification process is completed, funding will not be available. So, sign in and fill in your details in your Profile section on the website. We’re focusing on the international OKCoin Exchange, which accepts the US dollar (USD) in. 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. OKCoin Exchange and Prime Trust also announced the launch of its stable coin known as OKcash (OKUSD).
Additional Limitations With OkCoin Exchange
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. 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. OKCoin provides services to all countries globally with the exception of Crimea, Cuba, Bangladesh, Bolivia, Ecuador, Iran, Kyrgyzstan, Malaysia, North Korea, Sudan, and Syria.
What is the Minimum Withdraw Amount for Okcoin?
Completion of level 1 will allow withdrawals of not more than 2 Bitcoin. To withdraw more than 2 Bitcoins, complete level 2 by uploading images of address proof and passport. Insert the correct personal details since no changes can be made once the verification is complete. However, it continues to operate the best cryptocurrency exchange for non-Chinese markets. It was speculated that many Chinese professional companies would opt for overseas exchanges. Huobi and Okcoin were particular targets since they were functioning without any suitable anti-money laundering systems and KYC.
Useless Trading PAIRS; NO STAKING for Canada
It is not an individual issue, changing my phone didn’t help. We’re currently working on making our support system more customer friendly and aim to offer our customers the best support possible. Please send us a direct message on Twitter @okcoin and we can expedite any issues any issues you’re experiencing.
support service is terrible
Easy to navigate the platform, easy to communicate with support, and whatever problems you have, they will try to resolve.Overall, I am satisfied. We were able to pass your ticket along and did receive confirmation that you’ve been in contact with our team. 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 like the access to newer coins and the earn button is really great too. There have been no reported hacks of Okcoin and users are encouraged as always to use 2-factor authentication, secure passwords, a new email, and always check links for possible phishing attempts, as always.
In addition, the exchange’s total selection of trading products is limited to only a moderate amount of spot trading options. As such, Okcoin cannot compare to more derivatives heavy exchanges such as OKX, FTX, or Binance. As far as the exchange and trading interface itself, advanced charting is integrated with TradingView and order books and advanced order types are present for more advanced traders to use.
The exchange is also the first in the United States to let you purchase Bitcoin in satoshis, the okcoin review smallest Bitcoin unit. Some investors prefer this over buying a tiny fraction of a Bitcoin.
The default view shows the basic interface and includes all the tools required to view the current price of the selected asset, choose an order type, entry price and amount. Switching to the full-screen mode brings up more functionality and the ability to choose between Okcoin’s native charting platform or TradingView. Level 1 verification requires personal information such as; name, nationality, birth date, Passport or ID number and address. Users can buy and sell up to $5,000 with basic verification only.
The System Status page can be useful to see if there is scheduled maintenance that can cause delays with withdrawal requests. There are 2 options to obtain cryptocurrency with fiat money using Okcoin which include a one-off purchase or recurring orders. Customers that want to convert fiat into crypto at a particular price can use the off-off time purchase to select a payment method available to the country of residence.
To sum up, in this Okcoin review, we have discussed how this excellent exchange is extremely reliable. It offers advanced trading modes and features for high-volume traders, including beginners and experienced investors. That’s why it comes under the top cryptocurrency exchange list. However, it is important to note that a particular exchange has a specific trading view. Hence, investors can determine their most suitable trading view based on their requirements. It offers over 30 trading pairs and advanced features for beginners and high-volume traders in 192 countries worldwide.
This platform has a lot going for it…
Gemini offers 62 coins and 86 trading pairs which is about the same as the amount offered by Okcoin. Another similarity is in Gemini’s presence of crypto financial services offerings, which are also similar to Okcoin’s Earn product. Derivatives traders who want to trade margin, extensive crypto futures pairs, or leveraged tokens and options will prefer FTX since Okcoin offerings here are nonexistent for US and EU users. They also use a microservices architecture to authenticate and authorize every access request that is made to a user’s account.
Coinbase also has a rewards program, which allows you to earn extra tokens for learning about new altcoins and earn a return for staking. Okcoin is geared more toward frequent traders, with fees based on your 30-day average trading volume. 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.
For example, Okcoin is offering a flexible term for Polkadot (DOT) with an estimated return of 8% APY. There are zero transaction fees, network gas fees ongoing maintenance fees to earn crypto with Okcoin. The Essence of Okcoin Exchange Okcoin has established itself as an international exchange that strives to offer a fulfilling trading experience, complemented by a supportive customer service team. Whether it’s the diverse crypto pairs, the innovative trading platforms, or the emphasis on security, Okcoin presents itself as a substantial exchange within the crypto community.
OKCoin Exchange: Areas for Improvement
There is a ten business day holding period before newly deposited fiat or purchased crypto becomes available for withdrawal. This is a security measure to ensure the integrity of your funds on the platform. The more you use the app/website, the shorter this withdrawal holding period usually becomes.
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.
