Adding funds to the account usually takes between one and three days. Fortunately, these are the exception instead of the rule, but you should be aware of them and avoid making deposits on a tight turnaround. Despite these events, the exchange handled $19.7 million in trading in the 24 hours following the announcement of the arrest.
Types of cryptocurrenciesBitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash, EOS, Tether, etc. Dear users, According to the European Unions regulations, all Okcoin users have to agree to the following User Agreement to continue to user the website. All forms of investments carry risk, including the risk of losing all of the invested amount. Get an overview of our staking and DeFi offers and how they work. We keep your deposits safe through offline storage, 24/7 transaction monitoring, and multi-factor encryption.
Voyager is very easy to navigate for me, that’s why I use them to HODL assets. We’re very sorry to hear about your experience and we would be happy to expedite a solution for you. It sounds like since you filed the dispute and your bank didn’t cancel it, our security system flagged your account for review to ensure your funds were completely secure. We realize that this can be frustrating, but keeping the funds on our platform safe is our top priority. If you could kindly send a direct message to us @okcoin on Twitter, we can have our support escalations team take a look at your account and work on a resolution. Okcoin initially accepted USD deposits but issues relating to the intermediary banks troubled several crypto exchanges.
For example if you are from the US and deposit less than $500 but you make a profit and your account balance is greater than $500 you will have to verify your identity to make the withdrawal. They do not offer other markets like futures, options, or CFDs. Whether you’re new to cryptocurrency or an experienced trader, you’ll be able to appreciate the streamlined Okcoin interface.
But okcoin switched me to Bitcoin and sold me $50 worth of bit coin. And would not respond when I emailed for a request for refund. The editorial stuff of FraudBroker.comproject will not call OKCoin exchange the scam artist. In the comments to our review we expect the real feedback from traders about the platform proving the issues existing with it, effecting its rating in our project.
Especially for high volume traders, institutions or market makers, OKCoin offers special fee schedules tailored to their needs. The simplistic design of the web-based trading platform makes it possible that both professionals and individuals can use it easily. Okcoin is a great exchange for beginner traders, advanced traders, and institutions. The process to buy your first crypto is as painless as possible for total novices. At the same time advanced traders can stake to earn, and make use of many order types.
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Finally, they let me login to my account.At this point they sent me an email stating that I could get bonus money if I invest at least $100 into cryptocurrency which I did. I planned to hold for awhile anyway and their 6 month wait requirement wasn’t an issue. Their response was an immediate email saying they are closing my account with no reason provided. I was upset of course as I had done nothing wrong, followed all of their procedures, and no reason was provided. The resolution I’m requesting is I want my account closed and all of my funds returned. Okcoin uses the maker and taker fee structure to determine the applicable fees based on the type of order placed.
This is to provide more liquidity between takers and makers because their electronic trading platform makes use of a broker dealer network. To translate – on Okcoin trading is essentially buying from and selling to their partners with fiat currency. Yes, as previously noted, Okcoin offers its users a secure trading experience.
Does Okcoin Offer A Demo Account?
Level 1 Verification permits up to $2000 USD per day but does not allow withdrawals. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services.
If your a beginner in crypto it’s a little like kucoin exchange when you have to transfer from funding account to trading account but after that it’s smooth sailing. Many professional traders ask a common question – Is Okcoin a scam? Sometimes, even a professional trader cannot mark the difference between a scam and a legit platform. However, Okcoin is well regulated by top regulatory authorities, and hence, it is not a scam. Okcoin is extremely reliable and secure with transparent terms of services and a positive step to enhance customer satisfaction.
The exchange is simple to use and offers major cryptocurrency projects which can be bought with a wide array of payment methods and converted back to fiat currency with low trading fees. The advanced trading platform with TradingView charts is ideal for intermediate and experienced traders with the added option of margin trading. The main priority of Okcoin is providing customer satisfaction and transparent, fast and reliable support. They provide the services and products, such as cold storage, security encryption, and regular monitoring of withdrawals and deposits. It is also created to meet the customers’ needs, such as having a mobile app to access the exchange platform.
Binance US Review ( : The Pros, Cons, and Features
You’ll need to confirm your passport data, email address, provide your driver’s license number, and give other detailed information about the account before the transaction can be completed. Although OKCoin started in China, it has since made a move to the United States and is an American-based entity headquartered in San Francisco. As a result, you can rest assured its safety and security measures always comply with US regulatory and cybersecurity standards. OKCoin Exchange and Prime Trust also announced the launch of its stable coin known as OKcash .
Additionally, OKCoin features an FAQ page where traders can find answers to most questions they might have. If you’re finger slips you order two or three of the same recurring purchases on the same day without even knowing it. Also, the whole funding and trading account doesn’t make sense. How about just one account you can transfer and buy and sell at your leisure.
- The available order types are market, limit, stop-limit, trailing, iceberg and TWAP.
- The exchange is user-friendly for both professionals and individuals.
- They look to support projects that they feel are making a change in the space that have high potential.
- Not only that, he also founded another popular crypto exchange, Okex, a year after he founded Okcoin.
- The support options available to traders include email, live chat, telephone support, and a ticketing system.
- You can buy, sell, and trade over 75 cryptocurrencies on Okcoin.
Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. The most recent addition to the group is Hong Fang, who was announced as Chairman of OKCoin and Chief Operating Office of OK Group on 24 September 2019. Other restricted areas, from which users may not trade on OKCoin, include Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador, and Kyrgyzstan. Okcoin is not regulated, but it is a registered Money Services Business with Financial Crimes Enforcement Network. Within ZenLedger, on the Import Transactions page and Exchanges tab, select the Exchange you want to import. Then you’ll see a table that outlines the possible methods.
To withdraw more than 2 Bitcoins, complete level 2 by uploading images of address proof and passport. To withdraw more than 50 Bitcoins, contact business support. Insert the correct personal details since no changes can be made once the verification is complete. Okcoin is one of the most reliable fiat-to-crypto companies in the world, founded in 2013 by Star Xu in Beijing, China. Okcoin expanded the platform to include trading pairs with high liquidity provided by the hot wallet, profitable interest-earning schemes, and several altcoin markets. The great thing about Okcoin is that there aren’t any glaring omissions from its lineup.
OKcoin Cares about the Industry
We assess and review the cryptocurrency exchange’s features, supported assets, fees and limits. Okcoin users can contact the exchange by direct email, using a live chat service or telephone number. Okcoin has an extensive Help Centre and FAQ page that provides guidance and answers to commonly asked questions regarding creating an account, verification, deposits and withdraws and trading. The System Status page can be useful to see if there is scheduled maintenance that can cause delays with withdrawal requests. Dollar-cost-averaging is a very simple and easy method for individuals to invest in cryptocurrencies.
Okcoin is lacking in terms of trading pairs and cryptocurrencies supported, but they are always listing new cryptocurrencies. Its operations pulled out of China, its largest market, in 2017 after several crackdowns on cryptocurrency, and is now based out of San Francisco, while Xu works out okcoin review of Hong Kong. When you reach out to Okcoin, you might encounter mediocre customer service. The average score on Trustpilot is 3.8 out of 5 stars, that’s with several hundred customer reviews. Plus, The College Investor team had a difficult time receiving timely responses to questions.
Okcoin partners with cybersecurity experts to look for vulnerabilities and runs periodic internal audits. You pay a taker fee on orders that are filled immediately and a maker fee on orders that aren’t.
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. OKcoin also helps develop the entire crypto space by offering tokens for early niche projects not listed on other regulated exchanges. They look to support projects that they feel are making a change in the space that have high potential. It is difficult for many early projects to see success without having their tokens available on major exchanges, and OKcoin aims to support as many of these projects as possible.
The interface is intuitively designed, allowing for beginner and advanced traders to benefit from this platform and all the trading options available to them. OKCoin exchangecertainly may be called the leader of cryptocurrency trading among effective international platforms. Trade values here reach BTC on what seems like a daily basis. The service is used by digital coins holder in many countries of the world.
OKCoin is a safe cryptocurrency exchange as they use the latest encryption technology to help to secure its website from hackers and enables two-factor authentication for logins and withdrawals. OKCoin accepts cryptocurrency deposits as well as USD and CNY deposits made via bank and wire transfers. Users of OKCoin all fall under the same account type but there are different verification levels which grant traders greater deposit and withdrawal amounts. We’re always working on making improvements to the website/app.
For retail investors and beginners, the 0.1% and 0.2% fees will be applicable for accumulative volume under $100,000 per month. Overall, Okcoin provides a great interface for individuals to buy or sell 24 different cryptocurrency coins using a clean, easy-to-use and https://forex-reviews.org/ safe platform. The coins can be quickly monitored on the dashboard which provides real-time updates over 24-hour, daily, weekly or monthly timeframes. The exchange is recommended for beginners that want to build an investment portfolio without any complications.
I stack heavy bags of Sats using Okcoin and I can say without a doubt they are not a scam. Their fees and the price quoted are in a totally different league than any of their competitors. If you are a crypto coin person, okcoin is not an exchange for you. Build your crypto portfolio, wherever you are with our web and mobile apps.