OKCoin Review: What We Like and Don’t Like

The payment methods you can use to deposit and withdraw are different, and depend on which country you are based in. In general Okcoin supports fewer payment methods than most other exchanges. 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 of Hong Kong. OKCoin accepts cryptocurrency deposits as well as USD and CNY deposits made via bank and wire transfers. Additionally, there are VIP levels achieved by gathering reward points after completing KYC details and trading.

Depending on your country’s regulations you have to verify for different deposit amounts. The listings that appear on this page are from companies from which this website and Bankrate may receive compensation, which may impact how, where and in what order products appear. This table does not include all companies or all available products. Neither Bankrate nor this website endorses or recommends any companies or products.

This website may have financial affiliations with some of the brands and companies mentioned on this website. Once this is done, all you have to do is wait for the verification code that will verify you. And as soon as this is done, you enter all the required information.

And you may or may not have done this because of the Juicy $50 BTC bonus. Otherwise you would have just transferred crypto into your account. Even though I don’t buy anything on their platform besides Bitcoin and STX, it’s impressive how fast they bring products to market. Their Earn product is next level, if custody is your thing. Their integration with Polygon, Tron, and Lightning puts them way ahead of any other exchange in the US. But okcoin switched me to Bitcoin and sold me $50 worth of bit coin.

  • Feel free to send us a direct message on Twitter @okcoinhelpdesk and we’d be happy to take a closer look.
  • Find out more about othercryptocurrency exchangesworth your consideration.
  • Since launching in 2012, Bankless Times is dedicated to bringing you the latest news and informational content within the alternative finance industry.
  • Scan the given security barcode, insert the numbers and Confirm.
  • But given this is a platform most suited for new and passive investors, that could be a lot to ask.

As for the slipping fingers, we ask all of our users to confirm the details before they make a purchase/trade, so you may be having a personal account issue. Feel free to send us a direct message on Twitter @okcoinhelpdesk and we’d be happy to take a closer look. 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 to Buy and Sell Cryptocurrency on Okcoin

In order to be sure that OKCoin is not a scam, read our trader reviews and check other popular trading related websites and forums. Tokenhell is a blockchain & crypto news agency where you can discover news about crypto coins, technical analysis, blockchain events and detailed reviews. None of the information you read on Tokenhell should be regarded as investment advice. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions.

okcoin scam

Okcoin is on a mission to building an inclusive future of finance. As the world’s largest global cryptocurrency exchange — with the lowest fees around — we provide secure trading for top currencies such as bitcoin , ethereum , tether , Stacks , and more. We support customers across 184 countries, offering the lowest trading fees in the industry with the shortest signup to trading time . From first time bitcoin buyers to institutions trading an advanced portfolio of cryptocurrencies, traders turn to Okcoin to get the most out of their trades.

Today, there are 78 million OKUSD in existence, a figure similar to Litecoin’s 105 million coins. Keep reading for our full analysis of OKCoin and whether you should consider it the place to buy and sell cryptocurrency. Needs to review the security of your https://forex-reviews.org/ connection before proceeding. 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. Get an overview of our staking and DeFi offers and how they work.

Are Funds Safe with okcoin5 ?

Okcoin was targeted because it was found to be operating without having appropriate Know Your Client and anti-money laundering systems in place. There is a host of digital currency-adjacent products and services that have become increasingly important as more investors are turning to cryptocurrencies as viable investments. Apps that make use of blockchain technology and mining-related products are two key examples. A third category is the digital asset trading platform. Okcoin has 46 tradable markets and supports a little over 30 actual crypto assets if you exclude stablecoins and repeats like the ETH/BTC pair.

Instead, because they have a broker dealer network, the price the trades are executed at depends on the type of orders available between the taker and maker. For example if you set a buy order at a limit, and that limit is slightly higher than the market price, your order may be filled at any price between. There is no information on their site about if they take a spread between maker and taker prices. There are not spreads in the same sense as there are when buying instruments off broker sites.

okcoin scam

OKCoin holds 105 percent of the user funds in cold storage and has a hot wallet which always provides enough liquidity. In the case of a hot wallet breach, there is no doubt that the trading platform would easily absorb the hit. 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.


Connect a bank account securely — we’ll never retain your bank info. Between crypto-backed stablecoins making a come-back and USDC on the verge of flipping USDT, the ripples of UST’s collapse are still unfolding. Most of the customers who fell prey to this specific scam ring were seniors. Many of these customers, like the 84 year-old man quoted above, could have lost almost everything they had saved for their entire lives. The rating results published on Cointelligence are based on an independent rating system developed by the Cointelligence team. They do not reflect any official governmental approval or regulatory compliance.

It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. Companies can ask for reviews via automatic invitations. In my search for a broker with decent rates and trailing stops I found Okcoin and FTX.US. After trying them both I elected to us Okcoin due to its ease of use, low commissions, trailing stops, and excellent interest rates on crypto dollars put into their “earn” program.

okcoin scam

The four tabs on the bottom make it very easy to find what you’re looking for and the app does well to avoid hard-to-see or touch features often found in other crypto apps. That said, the regulatory information about okcoin review the exchange remains scant on the exchange’s current website. And some customers have trouble getting past the meagre choices when it comes to coin offerings and the languages you can access the platform in.

What is OKCoin leverage?

Even if you will try to contact other followers in this group, they say they double their money and they will be happy to invest in one and one program with you. But you don’t know that they are all scam to make you send money to them. OKCoin is a digital asset trading platform, established in 2013 by Star Xu in Beijing, China that offers fiat trading with cryptocurrencies for individuals and professionals. Their mission is to create an efficient, reliable and secure platform that removes any trading barriers globally. Their main target market is China/Asia, but they also accept global customers.

Об авторе и источниках материала про кухню OKCoin

The exchange offers discounts to the makers, which brings down the maker fees to 0.10 percent. This helps investors unwilling to pick up the existing order from their order book. The fee schedule has made Okcoin one of the most successful trading platforms globally, with a high trading volume.