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okcoin review

It is one of the best digitized asset trading platforms, offering fiat deposit trading with cryptocurrencies, such as Ethereum, Bitcoin, Ethereum Classic, Litecoin, and Bitcoin Cash. The exchange is user-friendly for both professionals and individuals. They aim to produce a reliable and efficient exchange by removing trading barriers, including margin trading, on a global level.

Scan the given security barcode, insert the numbers and Confirm. Okcoin is one of the most reliable fiat-to-crypto companies in the world, founded in 2013 by Star Xu in Beijing, China. Okcoin expanded the platform to include trading pairs with high liquidity provided by the hot wallet, profitable interest-earning schemes, and several altcoin markets. Before launching an international website, many non-Chinese users had problems with verification. There are a lot of complaints from that period about the exchange refusing the documents from International users without explanation and preventing them from withdrawing their funds.

okcoin review

Staking cycles are not guaranteed to end on a certain date because it depends on when the necessary amount of blocks have been built. If you have any questions, please send us a DM on Twitter @okcoin and we’d be happy to help. Hi Keith, thanks for laying out your experience for us.

Trading Platforms

If you are trading with margin for USD, the historical daily interest rate is 0.02%. If you are trading with margin for BTC, ETH, or LTC, the historical daily interest rate is 0.01%. The assets available to lend are MIA, STX, USDT, USDC, DAI, UNI, SNX, and YFI. These rates are also flexible and sometimes pay interest in different assets than what is being https://forex-reviews.org/okcoin/ lent. For example, you will earn STX for lending MIA and earn BTC for lending STX, so be sure to double-check what you are earning before you commit to lending. 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.

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Due to our strict safety protocols, it can take up to 10 business days for newly deposited fiat to become available for withdrawal. The more you use the platform, the shorter this wait time usually becomes. As of right now, we have wire withdrawals available for fiat funds on the platform. Wire transfers usually take about 2 business days to be completed.

How do I deposit in OKCoin account?

It also offers advanced trading types and features for experienced traders. 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. The OKCoin exchange primarily services users from China and the Asian markets but accepts traders from all over the world. The Okcoin mobile app is designed with a simple user interface that is ideal for beginners to quickly and safely buy crypto and monitor the live coin prices. The app has a 4.2- star rating on Google’s Play Store from 1,693 voters.

  • Once you deposit your cryptocurrencies, you will start earning interest without having to do anything else.
  • Please send us a direct message on Twitter @okcoinhelpdesk and we can have our escalations team provide you with expedited support in finding a solution.
  • I have no idea what transactions were double charged so all I can do is assume that I was reimbursed fully.

Flexibility will bring convenience for you, and you may be able to cash out your assets early or set a staking period as per your preference. Some consumers also lament the exchange’s rigorous two-step verification procedure, which is mandatory. You can’t start trading until you complete it, and the process does prove more time-consuming than with other platforms.

Okcoin Review: Crypto Platform For New Investors

OKCoin utilizes their very own proprietary web-based trading platform. Okcoin is especially well known as one of the best places to buy Bitcoin. It reportedly transacts over 16 million Bitcoin per 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.

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. We take the quality of our customer service very seriously and would be happy for the team to take another look. Please send us a direct message on Twitter @okcoin and we’ll get to the bottom of this ASAP. Okcoin uses a tiered fee structure with trading fees ranging from 0% to 0.20%. Your tier is based on your 30-day trading volume with the exchange.

Overall it’s good platform

The number of available trading pairs is quite limited when compared to the larger exchanges such as Coinbase Pro, Kraken, Binance, Huobi and FTX. There are currently no trading pairs using Ethereum, Litecoin or XRP as collateral. The recurring orders feature allows users to set up automatic deposits using a particular payment method. The frequency options include daily, weekly, bi-monthly or monthly.

okcoin review

Overall, the customer feedback on Okcoin’s support service is good with complimentary comments on the exchange’s features, the number of coins offered and low trading fees. If you’re in the market for a new crypto exchange, you may have come across Okcoin. This crypto exchange platform is globally licensed and serves over 190 countries.

If you want to check out some other options before you sign up to Okcoin, you can have a look at this article on the best crypto exchanges. I have also included a comparison table below so you can make a quick judgement based on key facts. Yes, as previously noted, Okcoin offers its users a secure trading experience.

  • FinanceBuzz is an informational website that provides tips, advice, and recommendations to help you make financial decisions.
  • The platform comes complete with an advanced chart that can be viewed in full screen.
  • Trading fees depend on your monthly trading volume, but the most you’ll pay is 0.2%.
  • Okcoin provides a basic and advanced user interface for beginners and experienced traders.
  • One of the longest-serving and most traded crypto exchanges for Bitcoin is Okcoin.

This may not be applicable at the time you are reading this, but it’s possible they will extend the offer to future months, so it could be helpful to keep in mind. A major drawback to the app, however, is it does not let you view full charts or submit limit orders when purchasing crypto. It will let you easily buy at market or set up recurring payments, but it certainly won’t be an app for traders. Nevertheless, it’s a well-crafted app that passive investors will find quite enjoyable.

Okcoin has 46 tradable markets and supports a little over 30 actual crypto assets if you exclude stablecoins and repeats like the ETH/BTC pair. Most of the trading pairs are with USD, and only a few assets are tradable with stablecoins (BTC, ETH, and STX to be exact). Okcoin offers some features, such as Earn, that can be attractive to those with a lower risk tolerance, and those who are looking for yield. It also offers some helpful educational tools for beginners learning how to buy Bitcoin and other cryptocurrencies. But for the most part, this crypto trading platform is likely to work best for active traders with a relatively high risk tolerance. OKCoin exchange takes security very seriously, partnering with external cybersecurity professionals to detect any weaknesses in their systems and conduct frequent internal audits.

Without the Google authenticator working I can’t set a “funds ” password to withdraw my funds. Hi Oliver, thanks for reaching out with your review. We can also look into honoring the original referral bonus if you send us a message there.

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