To install Chrome, simply download the installation file, then look for it in your downloads folder. 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. Okcoin is globally licensed and has offices in San Francisco, Miami, Malta, Hong Kong, Singapore, and Japan. Users with Level 1 KYC can deposit up to 500 USD per day and withdrawals are not allowed.
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The user’s trading fees are determined by trailing 30-day volume which is recalculated every day at midnight UTC+8. All volume is converted to USD using the exchange rate of the digital asset at the time of the transaction. 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. 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.
However, we encourage you to consult with a qualified financial advisor before making any investment decisions based on the educational information you find here. The information found on this site does not constitute financial advice. Firstly, they focus on platform security by partnering with external cybersecurity experts to hunt down security vulnerabilities and run periodic internal audits. For KYC overal, users are required to submit their name, address, DOB, nationality, government-issued ID, and a valid photo holding said ID, in addition to a valid email address and a mobile phone number. In addition, there is also an OTC desk for buying and selling large amounts of crypto without slippage. Okcoin offers deep liquidity and quick executions with this service.
Founder Xu had a background in technology management and previous experience at Yahoo and Alibaba with the development of search algorithms. Since its start, Okcoin has developed into one of the largest and fastest growing exchanges in the world. It is still a private company with Series B funding with at least $10M in funding. OKCoin exchange is officially registered in Beijing, China, and the subject to the jurisdiction of this country.
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To make the image more unprejudiced, we will show the disadvantages of the platform, too, which usually appear in the feedback from traders. The version of the website are just in Chinese, Hongkongese and English. Starting this project its founders declared they wanted to create the international crytpocurrency trading service. Today OKCoin exchange supports just three language versions, but the users hope the list will be extended. The second step you need to withdraw funds through bank transactions and increase the capital volumes for deposit/withdraw. If you want to activate such options, you have to confirm your passport data, e-mail, submit your driving license and the detailed information about the account for transaction to be done.
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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. Security and data privacy are the foundations of this platform, and important user data is encrypted during transmission and storage to ensure its safety.
Crypto Security
Users with Level 2 KYC can make deposits and withdrawals up to 1,000,000 USD per day. Corporate accounts can okcoin review include 20 or more designated individuals). This verification level requires a bank statement, utility bill, and a photocopy of government issued ID in addition to information required for Level 1 KYC. All users of Okcoin are required to undergo KYC verification procedures as per its KYC/AML terms. Users who perform successful Level 2 KYC can enjoy increased transaction limits which are not publicly noted. All users have to complete at the minimum Level 1 KYC to obtain access to funding the exchange wallet.
Okcoin offers incentives to professional market makers, and margin interest rates fluctuate in real time based on supply and demand. Binance is the leading global crypto established exchange by trading volume, offering a much larger selection of cryptocurrencies than Okcoin—over 351 coins and over 1300 pairs. Gemini offers 62 coins and 86 trading pairs which is about the same as the amount offered by Okcoin. Another similarity is in Gemini’s presence of crypto financial services offerings, which are also similar to Okcoin’s Earn product. Coinbase is best designed for buy-and-hold investors or casual to intermediate cryptocurrency users—Coinbase offers 402 pairs vs. Okcoin’s 64 coins and neither offer margin or futures for US users.
- Users with Level 2 KYC can make deposits and withdrawals up to 1,000,000 USD per day.
- It is still a private company with Series B funding with at least $10M in funding.
- Users must provide personal information and documentation to verify their identities, such as a government-issued ID and proof of address.
- 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.
- The version of the website are just in Chinese, Hongkongese and English.
Passionate individuals at Okcoin share a common goal of decentralized finance and leveling the playing field in the global economy. 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.
- Access control is another key aspect of Okcoin’s security measures.
- International users who can use FTX International may prefer FTX.
- As for customer support, Okcoin offers support via email and logging in.
- The main disadvantage of Okcoin is its relative lack of crypto financial services when compared to a large competitor exchange such as Binance.
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Lastly, Okcoin does require various levels of KYC requirements to be completed to use the exchange for all jurisdictions as per its KYC/AML policy, so this may be a con for those looking for a KYC-free service or exchange. However, as stated, there is no margin or futures trading or any other derivatives at all for US, EU, and Singapore, but margin may be available in some cases for jurisdictions outside of these. US residents are allowed to access the platform through Okcoin USA, which is a money transmitter and registered MSB with the US Treasury Department. Individuals of certain states may not use the exchange, such as Hawaii and some others. Our platform is dedicated to providing you with up-to-date educational resources, expert opinions, and a wealth of information to guide you in understanding the complex landscape of finance.
Accounts also use multi-factor authentication so users are prompted for deposit, withdrawal, and trade orders. No, Okcoin is a cryptocurrency trading exchange that also offers a custodial wallet for trading services, but is not a non-custodial standalone wallet. Hence, US users who cannot use Binance International may opt for Okcoin or Binance US equally. Gemini is focused on its holistic crypto financial services for Americans primarily, while Okcoin serves global markets, but both exchanges are otherwise very similar in their scope of services. International users who can use FTX International may prefer FTX.