Okcoin Cryptocurrency Exchange Buy Bitcoin, Ethereum & Crypto

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. Users can also enjoy market maker rebates as well as high volume trading incentives with lower fees. Users with Level 1 KYC can deposit up to 500 USD per day and withdrawals are not allowed. Trading fees are incurred when an order is filled by the exchange’s matching engine or P2P service. If an order does not execute, there is no fee charged until it does execute at a later point, or it can be canceled. US residents are allowed to access the platform through Okcoin USA, which is a money transmitter and registered MSB with the US Treasury Department.

This means that all user sessions are secure and validated with complete identity protection. Accounts also use multi-factor authentication so users are prompted for deposit, okcoin review withdrawal, and trade orders. The main disadvantage of Okcoin is its relative lack of crypto financial services when compared to a large competitor exchange such as Binance.

I explained in detail and I get an email asking for the same thing. I simply wanted my money to return to my bank account. I gave up and bought a coin and transferred over to another exchange which is much easier than dealing with this site. I don’t like that I need to exchange stablecoins to USD first in order to trade and then again to withdraw, these two trades naturally always incur a loss on the users end. I have tried to check on the funds which had been staked but NOTHING shows up on my profile, not even the transaction history even though I have the bank receipt.

Worst platform for crypto

These may be pie in the sky numbers to most, but institutional investors will likely find them noteworthy. The funding account, spot account, trading account are confusing. The scammers in official OKCoin support group in Telegram. I lost money to someone saying ‘okcoin support’ DO NOT trust those positive reviews here.

A limit order is an order to sell or purchase any amount at a particular price or even better. 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. It breaks large orders into several tiny limit 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.

Okcoin excels at offering traders a wide array of coins to trade, this includes USD Coin. Clients can improve their strategies by utilizing the coins, which is available after signing up. You only have to KYC verify if you deposit or withdraw more than the limit for your country.

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Trading fees are based on a sliding scale like many others, and it refers to the monthly volume. Maker fees are set to zero, while taker fees drop as the trading volume increases. Before deciding to trade Forex or any other financial instrument, you should carefully consider your investment objectives, level of experience, and risk appetite.

Depending on your country’s regulations you have to verify for different deposit amounts. For example, US and Canadian customers can only deposit $500 before they have to verify their identity, while other geographies can fund up to $2500 before they have to verify their identity. I prefer its interface for both quick and more detailed transactions and I like the fast rails it has with US banks.

Is Okcoin Available in My Language?

Feel free to send us a message on Twitter @okcoinhelpdesk and we’d be happy to double check your account if that doesn’t seem to be the problem. One of the best features is the recurring orders that are ideal for beginners to accumulate a position over time, as opposed to attempting to time the market with individual purchases. Combined with an easy-to-use mobile app and a responsive customer support team, Okcoin is one of the better fiat-to-crypto exchanges in the world. Okcoin also offers institutional services for institutions such as asset managers and hedge funds, intermediaries, liquidity providers, trading firms, and more.

As for fiat deposits and withdrawals, only bank and wire transfers are accepted at OKCoin, and a fee of 0.1% is incurred. The reviews on Trustpilot provide mixed opinions on customer service with an overall 3.4/5 star rating based on 270 reviews. There are numerous comments on user’s difficulties depositing funds and using the app, however, the exchange appears to directly respond to each comment to provide further assistance. Overall, the customer feedback on Okcoin’s support service is goodwith complimentary comments on the exchange’s features, the number of coins offered and low trading fees. Okcoin exchange supports payment options such as Bank Wire Transfer, SEPA, ACH, Etana, Epay, PrimeX, Silvergate, Credit Card and Debit Card to deposit funds to the platform. Within the United States, credit cards are not allowed, however, a debit card is permitted.

• Uploaded my driver’s license as per requirement in the app, then won’t recognise it, then freeze my account.
• We realize that this can be frustrating, but keeping the funds on our platform safe is our top priority.
• Their customer support is definitely not on par with the standards of the modern world.

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 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.

They use the latest security encryption along with account security methods to provide the best possible safety to their users. If you want yourself connected to the cryptocurrency world all the time, then you need a mobile phone to help you do so. Not only can https://forex-review.net/ smartphones allow you to keep up with the latest trends, news, and signals, but they can even help you trade, invest, or use financial services quite easily. OKCoin has the features and functions to satisfy the needs of their users from all around the world.

Supported Coins

He graduated from the University of California, Santa Barbara with a bachelor’s in philosophy and carries a deep passion for a first-principles approach to investing and education therein. Austin specializes in topics related to cryptocurrencies and blockchain technology. Okcoin is also running a special offer of no fees on all recurring payments for October. 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. As alluded to, Okcoin allows users to earn through either staking or lending. A major drawback to the app, however, is it does not let you view full charts or submit limit orders when purchasing crypto.

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This page may not include all available products, all companies or all services. I even spoke with one of their customer service representatives, and it was a breeze dealing with them. They even helped me and made me understand what happened to my issues.

Level 2 Verification –Deposits and withdrawals up to USD 50,000 permitted per day for personal a/c and up to USD 500,000 per day for corporate a/c. This verification level requires a bank statement or utility bill as proof of residence and a photocopy of govt ID card or passport. Once the funds have been deposited in the account, you can start trading Bitcoin cash.

This request has actually nothing to do with verifying someone, so why ask for this? I would love to hear just one good reason for this without having receive a standard answer. No other exchange has ever asked me for a picture of my wallet.

I have no idea what transactions were double charged so all I can do is assume that I was reimbursed fully. I expect better handling when it comes to a customer’s money. I’m not impressed at all, in fact I’m now hesitant to continue using your exchange since I can’t fully trust that my funds will be handled responsibly. We were able to pass your ticket along and did receive confirmation that you’ve been in contact with our team.

Just one plausible reason for wanting this is all I want to hear. I was able to get my funds out, finally, and closed my account. 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. US dollar is the only accepted currency for deposits, and the only two ways to deposit them are Bank and Wire Transfer. The transfer is free for corporate users, while individual users are charged with a 0.1 percent of the amount transferred.