Honest Okcoin Review: Features, Fees, Pros & Cons

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 requires KYC (Know Your Customer) identity verification protocols to be completed for use of the exchange, based on jurisdiction requirements. OKCoin is a global cryptocurrency exchange founded in 2014, with offices in San Francisco, Malta, Hong Kong, Korea, Japan,  and Singapore. In keeping with the lofty mission “to make crypto investing and trading more accessible to anyone around the world,” OKCoin has recently announced a large expansion to its San Francisco office.

On-The-Go Access

I’d like add something for okcoin to consider is have more coins to stake and if they can give the users to see what they made in staking on a daily basis like other exchanges do like bitrue exchange. Okcoin had some conflicting information on ACH deposits, saying they are free in one section and $0.99 in another, so it’s unclear where they actually stand. In either case, though, it is much cheaper than doing a credit card deposit. Once funds are in your trading or funding account, there are no additional fees.

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• Every crypto exchange platform has unique features targeted at specific user needs, which leads new crypto traders to hop from platform to platform.
• The OKcoin platform is very clean, easy to navigate and simple to use.
• If you want to trade more, you need to be able to upload an image of your photo ID and other documentation.
• Security and data privacy are the foundations of this platform, and important user data is encrypted during transmission and storage to ensure its safety.
• I’d like add something for okcoin to consider is have more coins to stake and if they can give the users to see what they made in staking on a daily basis like other exchanges do like bitrue exchange.

With 46 tradeable markets and over 30 crypto assets, should you make this your new crypto exchange platform? Okcoin is a reputable cryptocurrency exchange that allows individuals to buy Bitcoin and other popular coins effortlessly with cash using a variety of payment methods. The platform is geared toward beginners with a spot market and DeFi earning platform. While there are good features available for intermediate crypto traders, the overall platform is lacking, and the fees of 0.1% (maker) and 0.2% (taker) are not the cheapest. Moreover, existing users have rated OkCoin 3.4/5 stars on TrustPilot with numerous reports of poor customer service.

Kraken- Exchange With High Security

Binance wins in the fee department easily due to its incentives and reductions. Okcoin also offers some reductions but its reductions are not as aggressive as those by Binance. Gemini offers 62 coins and 86 trading pairs which is about the same as the amount offered by Okcoin.

Earn Interest On Funds

Okcoin also offers mobile apps for users to be able to trade on the go for both Android and iOS. There is also an affiliate program for users to receive up to 30% of their trading fees refunded. 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.

OKcoin Account Types

Self-help articles are also great as many issues are often just one article away from resolving yourself without needing to wait for a member of customer support. Users can deposit funds by transferring crypto directly or depositing fiat, with the supported currencies being USD, EUR, SGD, and BRL. Some or all of the offers that appear on okcoin review this page are from third party advertisers from which FinanceBuzz receives compensation.

The exchanges protect your deposits through keeping 95% of your crypto in offline storage, providing around-the-clock transaction monitoring, and offering multi-factor encryption. Although the platform was primarily focused on Chinese and Asian markets for some time, it now accepts users from all over the world. Currently, over 100,000 active traders and investors rely on Okcoin to route their crypto transactions. Okcoin’s trading interface, though satisfactory, is a bit underwhelming.

Okcoin might be best for someone interested in trading cryptocurrency pairs, as well as trading crypto/fiat pairs. If you live in Hawaii, Indiana, Louisiana, Nevada, New York, or West Virginia, you won’t be able to open an account with this trading service. You can also take advantage of its Pro platform, which offers access to different types of orders and allows you to complete more complex trades. There are several other tokens available, including Tether (USDT) and other stablecoins and altcoins. However, Okcoin doesn’t offer as wide a variety of tokens as other exchanges, including Coinbase and Binance.US.

• As the crypto market continues to grow, having a trusted and efficient trading platform is vital in navigating your investment journey effectively.
• The aforementioned points are what make Okcoin an excellent choice for traders and investors.
• Transaction fees are charged in the asset that is purchased, with rebates paid in the asset that is sold.
• Whether you are new to crypto or a seasoned pro, our OKCoin Review will help you determine if it is the right exchange for you.
• Okcoin provides FDIC insurance for all USD deposits, providing users with peace of mind and added security.
• Okcoin is a globally licensed crypto exchange platform serving 190+ countries.

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. Okcoin offers access to more than 20 cryptocurrency pairs and is available in many countries around the world, including the U.S. You can buy, sell, and trade cryptocurrencies on Okcoin, using your desktop or laptop, or via iPhone or Android app. Okcoin’s stated mission is to make crypto investing and trading easily accessible to anyone around the world.

Whenever possible we test each product and include our honest, firsthand experience using it. FinanceBuzz makes money when you click the links on our site to some of the products and offers that we mention. These partnerships do not influence our opinions or recommendations. After creating your account, you can then provide information confirming your identity, including your name, birthdate, address, and the number on your government-issued ID. You do need to connect a funding source so you can get started buying crypto.