Looking for a comprehensive Okcoin review? You’re in the right place! Okcoin is a global cryptocurrency exchange that has been making waves in the industry with its commitment to accessibility, transparency, and innovation. With a presence in multiple countries and an impressive track record of satisfied customers, Okcoin has quickly become one of the go-to exchanges for traders looking to enter the exciting crypto world.
Okcoin’s user-friendly platform and diverse range of features make it easy to buy, sell, and trade cryptocurrencies. From its innovative API and mobile app to its commitment to security and customer support, there’s much to like about Okcoin.
In this review, we’ll take a closer look at what sets this exchange apart from the competition and help you decide if it’s the right choice for your crypto trading needs. So buckle up, and let’s dive in!
What Is Okcoin?
Okcoin is a crypto exchange on a mission to revolutionize the financial world by making crypto investing and trading easy for everyone, no matter where they are in the world. Okcoin headquarters are in San Francisco, but the company also has offices in San Jose, New York City, Malta, Hong Kong, Singapore, and Japan. Okcoin is a globally licensed exchange that has quickly become a household name among crypto enthusiasts.
What sets Okcoin apart is its unwavering commitment to breaking down barriers and making crypto accessible to everyone. The exchange has over 1 million customers worldwide, spanning over 190 countries. Passionate individuals at Okcoin share a common goal of decentralized finance and leveling the playing field in the global economy.
With its next-generation tools and user-friendly platform, Okcoin makes it easy for anyone to invest in and trade cryptocurrencies. And all that is not just for a profit—it’s a socially conscious company with a mission to create a more equitable financial system for all.
How to Open an Account at Okcoin
Here are the steps to open an account at Okcoin:
- Visit the Okcoin website or download the app from the app store.
- Click on the Sign Up link on the homepage of the website or in the app.
- Choose your preferred method of registration from the options provided, including phone number, email, Telegram, or Google account information.
- Enter and submit your personal information.
- Okcoin will send a verification code to the email or phone number provided.
- Enter the verification code to confirm your identity and complete the registration process.
- Once your Okcoin account is verified, you can fund it and start trading cryptocurrencies on Okcoin.
It’s important to keep in mind that Okcoin is a regulated exchange and may require additional identity verification steps before you can begin trading, depending on your location and trading volume. So make sure to check out the company’s terms and conditions before you start trading.
Is Okcoin Safe?
When it comes to Okcoin, security is not just a buzzword. The people behind the exchange think that security deserves a 360-degree view. That means employing multiple protection methods to prevent, detect, and address risks and vulnerabilities.
One of the most important aspects of security at Okcoin is platform security. The exchange uses sophisticated technology to spot anomalies and unusual behavior before it makes its way into its ecosystem or impacts its users. Additionally, Okcoin partners with cybersecurity experts to hunt down security vulnerabilities and conduct periodic audits to stay ahead of potential threats.
Access control is another key aspect of Okcoin’s security measures. Okcoin uses advanced technical architecture to authenticate and authorize every access request made to your account. All user sessions are secure and validated with complete identity protection, ensuring your account is never in the wrong hands.
Data security is also taken seriously at Okcoin. Security and data privacy are the foundations of this platform, and important user data is encrypted during transmission and storage to ensure its safety.
Last but not least, Okcoin has implemented wallet security measures to keep your funds safe. The exchange stores most of your cryptocurrencies in offline cold storage, while a small fraction is kept in multisig hot wallets. This means that your funds are inaccessible with a single key and require multiple signatures for processing, ensuring that your funds are always safe and secure.
What Are Okcoin Features?
Okcoin offers a wide range of features to help traders buy, sell, and trade Bitcoin and other cryptocurrencies. These features are organized into four categories on the Okcoin website: Buy, Mobile app, Trade, and Affiliate.
- Buy: Okcoin makes it easy to purchase crypto using various payment methods, including credit/debit card, wire transfer, and SEPA transfer. With Okcoin’s Buy feature, you can quickly and securely buy and sell crypto using your preferred payment method.
- Mobile app: Okcoin offers a mobile app for both iOS and Android devices, allowing users to access their accounts and manage their portfolios on the go. With the Okcoin app, you can trade cryptocurrencies, track market trends, and set alerts for price changes.
- Trade: Okcoin provides a robust trading platform with advanced charting tools, real-time market data, and a wide range of order types. Traders can easily buy and sell cryptocurrency using Okcoin’s Trade feature, which offers low fees and high liquidity.
- Affiliate: Through its Affiliate program, Okcoin reviews traders’ information and allows them to earn commission by referring new users to the platform. With Okcoin’s Affiliate feature, traders can earn up to 30% commission on the trading fees of their referrals, making it a great way to earn passive income while promoting the platform.
Okcoin offers multiple APIs for developers to integrate with their trading platform, including the V3 and V5 APIs. These APIs provide access to real-time market data, account information, order management, and execution of trades. The V3 API is a RESTful API that provides access to market data and trading functions. It also supports account management functions such as deposits and withdrawals. The V5 API, on the other hand, is a WebSocket API that provides real-time market data and allows for order management and trading.
The Okcoin API documentation includes code examples and detailed instructions to make integration as seamless as possible for developers. Additionally, Okcoin provides SDKs in various programming languages to make integration even easier. The Okcoin APIs are ideal for traders and institutions who want to automate their trading strategies or integrate Okcoin’s platform into their existing systems.
As you can see, these features are designed to provide traders with a seamless and secure cryptocurrency trading experience, whether they’re buying, selling, or trading. With a user-friendly interface, low fees, and a wide range of deposit and withdrawal options, Okcoin is a great solution for both novice and experienced traders alike.
What Are Okcoin Fees?
Okcoin’s transaction fees are based on a tiered structure that is determined by trailing 30-day trading volume, which is calculated every day at 00:00 (UTC+8). The tiers range from P0 for trading volume below 100,000 USD to P10 for trading volume above 500,000,000 USD. Here’s how it looks:
|Tier||30-day trading volume (USD)||Maker fee||Taker fee|
Transaction fees are charged in the asset that is purchased, with rebates paid in the asset that is sold. For example, if you buy BTC/USD, the fee is charged in BTC, and the rebate is paid in USD. Okcoin offers incentives to professional market makers, and margin interest rates fluctuate in real time based on supply and demand.
Okcoin charges specific fees for buying and selling from a trading account, with certain payment types requiring a specific fee. For example, Brazilian customers trading in BRL are subject to a 1% fee for buying. Okcoin offers a variety of deposit and withdrawal channels, with fee details available on their website.
For third-party providers, Okcoin charges a 3.99% transaction fee for credit/debit card transactions in USD, with a minimum transaction amount of $10. Overall, Okcoin’s fee structure is competitive and transparent, with no hidden fees.
Okcoin Customer Support - Which Customer Support Options Does Okcoin Have?
Okcoin is known for providing excellent customer service via various support channels. Traders have access to several contact options, including email, live chat, and a ticketing system. The support representatives are professional, friendly, and knowledgeable. They typically respond within an hour and are dedicated to providing helpful responses to all inquiries.
In addition to various support options, Okcoin has an extensive FAQ page covering a wide range of topics. The page provides traders with answers to most of the questions they might have, empowering them to make informed decisions and become more confident in their trading strategies.
Lastly, traders can check out Okcoin’s social media accounts, including Facebook, Twitter, and Reddit, to stay up-to-date on the latest news and announcements. Okcoin’s social media accounts are also a great place to connect with other traders and discuss trading strategies.
Okcoin Reviews - What Do Customers Say About Okcoin?
Okcoin has a strong reputation in the crypto industry. Many customers praise the user-friendly interface and the variety of cryptocurrencies available for trading. They also appreciate the security features implemented by Okcoin and the responsive customer support team.
Some users have reported occasional issues with deposit and withdrawal times, but overall, most customer reviews are positive. Okcoin’s commitment to transparency and regulatory compliance has also been noted by customers who appreciate the company’s efforts to ensure a safe and reliable trading experience.
It’s important to note that, as with any exchange, individual experiences may vary, and it’s always recommended to do research before investing in any cryptocurrency. However, the overall positive sentiment from Okcoin’s customers is a testament to the company’s dedication to creating a trustworthy and user-friendly platform for cryptocurrency trading.
Summary of Okcoin Review: Is Okcoin Worth It?
After conducting a thorough review, we believe that Okcoin is a reputable and trustworthy cryptocurrency exchange. Its commitment to security and compliance, extensive range of features, and excellent customer support make it one of the best choices for traders of all levels.
With a user-friendly platform and competitive fees, Okcoin is definitely worth considering for anyone looking to invest in crypto. So why not give it a try and see for yourself if it’s the right platform for your digital asset trading needs?
Is Okcoin a scam?
No, Okcoin is a legitimate digital asset trading platform. The exchange is operated by Okcoin USA Inc., a licensed money transmitter and money services business registered with the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury. Okcoin USA Inc. is located in San Francisco, CA, and is licensed to operate in several US jurisdictions.
Is Okcoin insured?
Okcoin provides FDIC insurance for all USD deposits, providing users with peace of mind and added security. Okcoin is also licensed across the United States, with FDIC insurance on all Okcoin accounts.
Does Okcoin use KYC?
Yes, Okcoin uses KYC procedures to verify the identity of its users. This is standard practice for financial institutions and is required by law to prevent fraud, money laundering, and other illegal activities. Users must provide personal information and documentation to verify their identities, such as a government-issued ID and proof of address. Once the KYC process is completed, users can access all the features of the Okcoin platform.
Can I use a debit card with Okcoin?
As we already mentioned in this Okcoin review, the exchange offers several payment methods to deposit funds, including credit and debit cards.