Well, it’s nothing special 😆I will close my account only because of the operator. 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. 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. But we’re not here to cast OKCoin Exchange solely in the tint of rose-coloured glasses.
- Historical events, such as regulatory changes in Hong Kong and the broader Asian market, have shaped the strategic decisions of the exchange.
- Okcoin Withdrawal fees are charged at 0.10%; however, Litecoin and BTC have no withdrawal fees.
- Plus, The College Investor team had a difficult time receiving timely responses to questions.
- To withdraw more than 2 Bitcoins, complete level 2 by uploading images of address proof and passport.
- Launched in 2013 and available in over 190 countries, Okcoin is one of the world’s oldest and most popular crypto exchanges.
To add funds to your account, you must first navigate the verification process. 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.
Does OKCoin use MetaTrader?
As you build your cryptocurrency assets, the idea of making your crypto work for you is enticing. Okcoin makes it easy to make your crypto work for you with staking and DeFi. 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. Before you can start trading through the platform, you must select an account type.
For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product’s website. That’s why you should carefully weigh this exchange against the competition. Find out more about other cryptocurrency exchanges worth your consideration.
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On completion, link your bank a/c with the newly made Okcoin a/c for easy exchanges. Whenever there is a lack of clarity around a platform’s back-end security, it is usually best to custodian private keys yourself. But given this is a platform most suited for new and passive investors, that could be a lot to ask. If you are very concerned about security and don’t feel comfortable adding keys to your own wallet, it might be better to use another platform. Withdrawals of funds from OKCoin can be made the same way as deposits, through bank and wire transfers for fiat money, and through cryptocurrency transfers between digital wallets. As with most cryptocurrency exchanges, OKCoin is not regulated by any reputable financial regulatory authorities.
How Does Okcoin Compare?
It also offers cryptocurrencies a lot of U.S. exchanges don’t, like Tron (TRX). Deposits and withdrawals on Okcoin are free of charge when made through a bank account. You can also deposit funds using a debit card, okcoin review but there’s a 3.99% fee. For comparison, many popular crypto exchanges have fees starting at 0.5%. You’ll keep extra costs to a minimum when you invest in crypto with Okcoin, and over time, that makes a difference.
Deposit and Withdrawal
Besides these features, you’ll see offers for cryptocurrency purchases or sales (e.g., limit and market orders) and additional analytical data that proves highly useful. OKCoin China serves Chinese residents, facilitating RMB transactions. OKCoin International conducts operations in USD transactions and represents a global company providing services to traders worldwide.
How long before I can withdraw from Okcoin?
These may be pie in the sky numbers to most, but institutional investors will likely find them noteworthy. 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. 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.
Once you have placed a limit order, the system automatically posts it on your order book and matches it with the other orders available. An Iceberg Order is one of the order strategies covering full-order size directly from the book of orders. In Trailing stop orders, as the order turns more profitable, the stop price also modifies. Trail orders help protect the capital when they change due to the change in the profits. Another order for selling and buying cryptocurrency immediately at the current market prices is the market order.
Reflecting on Okcoin Exchange As we draw this review towards a close, it’s important to reflect on the unique position Okcoin holds within the cryptocurrency exchanges. With a focus on expanding its offerings and providing a platform for both new and seasoned traders, Okcoin has secured a place as a significant player in the crypto ecosystem. The trading experience on Okcoin is tailored to cater to a diverse clientele, from beginner traders to those requiring advanced trading platforms with sophisticated options like Trailing stops. The proprietary trading terminal provides an ideal environment for active trading, with features designed to facilitate both quick transactions and complex strategies. It offers over 30 trading pairs and advanced features for beginners and high-volume traders in 192 countries worldwide. Okcoin is a registered MSB or Money Services Business with Financial Crimes Enforcement Network.
As it currently stands, the language barrier represents a significant problem when using the exchange. 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). Today, there are 78 million OKUSD in existence, a figure similar to Litecoin’s 105 million coins.
The withdrawal time from Okcoin can vary based on several factors, such as account verification status and the type of withdrawal method used. Usually, once your account is fully verified and the withdrawal request is made, the process can take from a few minutes to several days. This dedication to customer care is reflected in the positive Excerpts from user reviews, outlining experiences with the platform’s support teams. Okcoin’s fee structure is crafted to offer a competitive edge, focusing on aligning with the best practices within the industry. The tiered fee system is designed to benefit users by allowing them to reduce transaction costs as their activity levels increase. As the exchange expanded, it broadened its reach and now serves customers with different levels of trading experience.
Okcoin Earning
After 24 hours, authorities released Xu after he cooperated in the investigation of his accusers’ accusations. 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. As a result, you can rest assured its safety and security measures always comply with US regulatory and cybersecurity standards.