The response time on help tickets for customer support issues using the mobile app also appear to be slower when compared to the desktop site. There are no fees to withdraw money from Okcoin into a bank account except for SEPA and international wire transfers. Withdrawing Euros via SEPA and international wire has a fee of €1.5 and €35 respectively. It is free to withdraw funds using a wire transfer in the USA and Etana with Europe. To view the full list of deposit and withdrawal fees, visit the Okcoin website. Overall, using Okcoin is highly suited to beginners that are purchasing crypto with fiat and want a basic exchange to monitor their investment performance.
You can create an individual account via OKCoin’s website or mobile app. A verification code will be sent to the number or application you used to sign up in order to complete the sign-up process. The College Investor is an independent, advertising-supported financial media publisher, focusing on news, product reviews, and comparisons. Not only will you earn crypto as you use the platform, but you can also access a $10 sign-up bonus. In our opinion, using the TradingView mode is far superior as it offers hundreds of technical indicators, chart patterns, and drawing tools that can be applied to each trading pair. Compared to other software packages such as Coinigy, Quadency and Shrimpy, Tradingview is one of the best places to chart crypto.
- The exchange requires KYC (Know Your Customer) identity verification protocols to be completed for use of the exchange, based on jurisdiction requirements.
- Many professional traders ask a common question – Is Okcoin a scam?
- Yes, all users of Okcoin are required to undergo KYC verification procedures as per its KYC/AML terms.
- You’ll also find tracking marks of trends, indicator lists, and common factors.
- OKcoin has undertaken a challenging mission and is dedicated to being a cost leader in the space.
- This sounds like an individual account issue rather than a problem with the platform.
I really hope these come back in the future especially as the network grows. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. After you’ve registered and verified your identity, you can fund your account with an ACH transfer, wire transfer, or a debit card payment. It also has a detailed help center and categorizes different types of cryptocurrency on its trading platform.
In 2013 when the Chinese government cracked down on cryptocurrency exchanges and businesses, the exchange had to halt trading for local customers that year and again in 2017. When China banned all ICOs, Okcoin decided to halt CNY fiat pairs. As of today, Okcoin operates its exchange for non-Chinese customers around the world.
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 https://forex-review.net/ source and trading account, Okcoin also offers margin trading. This allows you to borrow money to leverage your position and potentially see bigger gains.
Useless Trading PAIRS; NO STAKING for Canada
Staking involves locking up a portion of your crypto assets, which then help validate the transactions on a particular blockchain. Understanding Okcoin Exchange Established with roots in Hong Kong, Okcoin is a Chinese company that has grown significantly over time, catering to a global audience with its crypto trading services. The exchange has carved out a niche https://forex-review.net/okcoin-review/ for itself amidst a competitive industry by focusing on providing access to a variety of crypto assets and projects. With the Okcoin trading platform, users get access to a complete and thorough trading interface. You can select different trading pairs, check their charts, market conditions, prices at different timestamps, and much more in the one place.
Deposits and Withdrawal Options
He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. Users that are part of the Okcoin Premier are eligible for fee discounts based on the trading volume over a 30-day period. The lowest fee available on Okcoin is 0% and 0.02% for maker and takers that have a trading volume that exceeds $500M per month. For retail investors and beginners, the 0.1% and 0.2% fees will be applicable for accumulative volume under $100,000 per month. Okcoin’s advanced trading platform includes several orders to enter or exit a position that will suit individuals that rely on certain orders for their particular style of trading and risk management. The available order types are market, limit, stop-limit, trailing, iceberg and TWAP.
Bittrex Review
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. 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.
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The OKCoin trading platform is very responsive and beautifully designed. It also offers advanced trading types and features for experienced traders. OKCoin features one of the most advanced and stable trading platforms for the trading of Bitcoin and a select other few cryptocurrencies. The trading platform web-based and is geared towards more professional traders but at the same time is simple enough for beginners to use as well. The platform comes complete with an advanced chart that can be viewed in full screen. Also, all the trading tools and technical indicators are available for in-depth technical analysis.
Okcoin Review – Is This Crypto Exchange Worth Using?
The platform keeps 95% of funds in cold storage and works with external cybersecurity firms to address vulnerabilities and conduct regular security audits. The exchange supports over 50 crypto assets, including rare and hard-to-find tokens. OKcoin aims to be the first to bring new and exciting projects to the mass market. Users can earn crypto rewards through the OKcoin Earn feature, which allows seamless integration with DeFi protocols like Compound and Yearn. Okcoin supports the US dollar (USD), Euro (EUR), Brazilian Real (BRL), and the Singapore dollar (SGD). However, it’s important to note that not every cryptocurrency can be exchanged for each fiat currency.
Okcoin offers a product called Earn for users to earn crypto rewards with DeFi and staking. There are options available at this time for users to earn up to 265% APY on select coins, with a range of fixed and flexible terms. It is a US-based cryptocurrency exchange that launched in 2013 that serves over 100K registered investors in 190+ countries. OKCoin’s Earn is a product that aims to simplify the use of DeFi protocols. It has a simple interface and gives you access to DeFi without any fees – so you don’t have to worry about paying network gas or service fees.
If you’re a regular trader on the platform with large trading volumes, you can tap into even lower fees. Fee reductions start once your 30-day trading volume exceeds $100,000. And if your 30-day trading volume is greater than $500,000,000 USD, the maker fee is 0.00% and the taker fee is 0.02%. With so many crypto exchanges out there, is it hard to know which one offers the best security without overcharging for the right to buy and sell cryptocurrencies. Okcoin has built a platform that prides itself in providing the highest security measures.
The advanced platform gives you more charting tools, which are helpful for more experienced investors. I had USDC in the staking pool for a few days and I decided to redeem it as I had other plans for a trade with it. I clicked redeem and it said “your funds will be available the next day” After two days, I was really frustrated and I contacted the support desk and opened a ticket. Now it still says “will be available the next day” and it’s been 5 days!! There’s something shady going on and they haven’t fixed it yet.
Did you know that from 2012 to May 2020, Bitcoin gained in value by 193,639.36%? In the process, it outperformed many other commodities, including gold. The most popular digital currency, Bitcoin, dominates more than 68.7% of the market. It goes against our guidelines to offer incentives for reviews. If you click on the profile icon at the top right of the page, you will see a dropdown window with a ‘Help Center’ tab near the bottom.
Are There Any Fees?
The cryptocurrencies available for trading are Bitcoin, Litecoin, Ethereum, Ethereum Classic, and Bitcoin Cash, and they can all be traded against both USD and CNY. Plus, FTX offers access to more fiat rails as well as more expanded suite of products such as its NFT marketplace and even leveraged tokens. Okcoin uses the maker and taker fee structure to determine the applicable fees based on the type of order placed. The maker fees and taker fees start from 0.10% to 0.20% respectively. The fees are competitive in the market when compared to top trading platforms such as Binance, Huobi and KuCoin.