But it is your right to be aware of everything before you mark my word. 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. Okcoin offers crypto purchases with credit cards, spot trading, and margin trading as well as staking and DeFi lending opportunities. With 46 tradeable markets and over 30 crypto assets, should you make this your new crypto exchange platform? As far as its crypto offerings, the exchange offers only spot trading at this time, with 64 coins and 77 trading pairs offered.
45% of employees would recommend working at Okcoin to a friend and 37% have a positive outlook for the business. The trade menu gives access both to buying and selling BTC, LTC, ETH, BCH, ETC, XRP and a few other cryptocurrencies or crypto tokens. Signing up is quite easy, you can either register with a mobile number or an email. After filling the registration form you just have to verify your account. The system will prompt for identity verification, but you can skip the process and do it later.
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.
Okcoin Trading Platform
To achieve these ends, OKCoin’s team makes transparency, reliability, and support vital features. They also offer services and products custom-tailored to client needs. If you’re looking to find the best and safest cryptocurrency exchanges available, read this OKCoin review.
You will then be required to submit identity verification information for deposits and withdrawals. If you want to check out some other options before you sign up to Okcoin, you can have a look at this article on thebest crypto exchanges. I have also included a comparison table below so you can make a quick judgement based on key facts. OKCoin has the features and functions to satisfy the needs of their users from all around the world. As we are talking about one of the biggest crypto exchanges here, the available features are not just useful for trading, but they help users explore other opportunities too.
Finally, I was validated to level L2 – but my account still says “Withdrawal suspended. There were also a lot of comments related to the scandal from March of 2015 when many high-level executives left the company, following the changes in the company strategy from Mr. Xu. The exchange was later accused of inflating trading volumes artificially, in order to look like the biggest exchange in the BTC market. Before launching an international website, many non-Chinese users had problems with verification. The website looks great and is very well adjusted for the professional traders.
Different Account levels at OKCoin
That said, withdrawals fromPrime Trustcome with a hefty $35 fee per transaction. This Nevada-based financial company entered the crypto custody arena in July of 2018, offering custody services for any token issued under theERC-20 standardon the Ethereum blockchain. They include an intuitive mobile app that permits users to access the platform.
- In the case of a hot wallet breach, there is no doubt that the trading platform would easily absorb the hit.
- The FBI’s 2021 Elder Fraud Report showed that 92,371 Americans over the age of 60 were scammed in 2021, losing a combined $1.7 billion.
- Yet you shouldn’t have to spend an excessive amount to be able to perform trades using OKCoin.
- The exchange offers what it calls trading accounts and funding accounts.
There is also an affiliate program for users to receive up to 30% of their trading fees refunded. It is a US-based cryptocurrency exchange that launched https://forex-review.net/ in 2013 that serves over 100K registered investors in 190+ countries. However, these issues are part and parcel of new, volatile markets.
A Brief History of Okcoin
Coinbase is a public US company and offers transparency into its industry-leading security along with its brand reputation, while Okcoin is not, but both are US based. Coinbase is better for many core aspects of crypto trading and products offered if compared to Okcoin, even if only for its much more expanded coin offerings. Active traders who need access to order books and advanced charting functionality may prefer using Coinbase Pro, FTX, Binance, or KuCoin though their fee structures slightly differ. In addition, there is also an OTC desk for buying and selling large amounts of crypto without slippage.
A cryptocurrency is a digital or virtual currency that uses cryptography and is difficult to counterfeit. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
OKCoin is the perfect exchange for experienced traders as they offer traders a variety of advanced trade types. Traders can participate in margin trading, futures, place Iceberg orders, trailing stop orders, and TWAPs. The OKCoin exchange does not offer as many cryptocurrency assets as many other cryptocurrency exchanges but makes up for it with the advanced trade types. The cryptocurrencies available okcoin review for trading are Bitcoin, Litecoin, Ethereum, Ethereum Classic, and Bitcoin Cash, and they can all be traded against both USD and CNY. We highly value account security and have several protocols in place to ensure the integrity of the accounts on our platform. One of these is a 10 business day holding period before newly deposited fiat or purchased crypto become available for withdrawal.
To answer that, in recent times, many cases have been reported related to fraud activities and misuse of some of the authentic platforms by scammers to scam inexperienced traders. It is true that every trader has different exposure and experience in the world of crypto trading. It is good for an exchange if it understands that every trader has different levels of understanding, and OKCoin has exactly done that. If you go on the platform of OKCoin, there you can see a separate FAQ section. Now you must be wondering if it will be an ordinary FAQ section just like most of the other platforms are providing pointless knowledge.
This website does not replace a personal financial advisor, which should always be consulted for investment or trading matters. In the same section there is a link to “compare” orders among exchanges, particularly useful for arbitrage enthusiasts. You’re looking for a platform with a smooth design that makes it easy to jump in and start investing.
It’s very clear that this company does not care about the wellbeing and happiness of its employees. Policies are always changing without a second thought, and great employees are being let go due to “reorganization.” Orders must be placed using a combination of one of the supported cryptocurrencies and USD.
Digital assets are risky, check out the Risk Disclosure Document on your platform of choice for more details and consider getting advice from a professional. This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood. Securities offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC. You want to buy and sell crypto for some of the lowest fees on the market.