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. 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. They also use a microservices architecture to authenticate and authorize every access request that is made to a user’s account. This means that all user sessions are secure and validated with complete identity protection.
- 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.
- 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.
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- Today OKCoin exchange supports just three language versions, but the users hope the list will be extended.
- All volume is converted to USD using the exchange rate of the digital asset at the time of the transaction.
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. All crypto transactions at Okcoin are instant after being approved if required, but fiat withdrawals are noted to be able to take up to 2-5 business days for bank transfers to complete. Users can also enjoy market maker rebates as well as high volume trading incentives with lower fees. The requirements for documents for KYC and account tiers can be noted here. Some countries such as the EU, UK, and Singapore require Level 3 KYC to use Okcoin. Okcoin was founded in China by founder Star Xu but today is globally licensed and has offices in San Francisco, Miami, Malta, Hong Kong, Singapore, and Japan.
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For example, if the user buys BTC/USD, the rebate is paid in USD. 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. As for customer support, Okcoin offers support via email and logging in.
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Crypto assets do not have a minimum withdrawal listed at this time. Yes, all users of Okcoin are required to undergo KYC verification procedures as per its KYC/AML terms. Users should still note that crypto transactions on average can take from 30 minutes to several hours for a transaction to be confirmed due to the blockchain. Once on the blockchain, the transaction needs a number of network confirmations before it’s completed. Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Okcoin.
As we already mentioned in this Okcoin review, the exchange offers several payment methods to deposit funds, including credit and debit cards. 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. 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.
- However, we encourage you to consult with a qualified financial advisor before making any investment decisions based on the educational information you find here.
- It also supports account management functions such as deposits and withdrawals.
- Starting this project its founders declared they wanted to create the international crytpocurrency trading service.
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. 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.
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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.
It is a US-based cryptocurrency exchange that launched in 2013 that serves over 100K registered investors in 190+ countries. Chrome uses cutting-edge safety and security features to help you manage your safety. Use Safety Check to instantly audit for compromised passwords, safe browsing status and any available Chrome updates. Chrome is compatible with devices that run Windows and Mac operating systems, provided they meet the minimum system requirements. In order to install Chrome and receive adequate support, you must meet the system requirements.
Does Okcoin require KYC?
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.
Binance requires full KYC now to trade even spot products, and Okcoin requires full KYC as well to use. Advanced traders and intermediate users alike who value a large selection of cryptocurrencies, products like staking, lending, and more, competitive fee structures, and futures and margin products will probably prefer Binance. As far as its crypto offerings, the exchange offers only spot trading at this time, with 64 coins and 77 trading pairs offered. Investors can use the automatic investing features for recurring buys. Users of all types can fund their account with payment rails available via Apply Pay and instant deposits, as well as with credit cards. There is fiat support for USD, EUR, and SGD pairs, as well as crypto-to-crypto pairs.
Okcoin is a top tier overall great choice of exchange for spot traders for okcoin review worldwide users and has been established in the crypto industry for a long time. The exchange uses sufficient security protocols and is trustworthy. FTX will win against Okcoin for all intermediate or advanced traders, as FTX offers 323 coins and 492 trading pairs, which is far higher than Okcoin 64 spot coins and lack of any futures pairs or other strong product offerings. 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. 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.
The international representative office of the company is located in Hong Kong. The device that you have runs on ChromeOS, which already has Chrome browser built in. No need to manually install or update it – with automatic updates, you’ll always get the latest version. This device won’t receive updates because Google Chrome no longer supports your operating system. Download Chrome on your mobile device or tablet and sign into your account for the same browser experience, everywhere.
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.
Kraken is accessible in 48 US states with KYC and is regulated and licensed by FinCEN in the USA, while worldwide users can use Okcoin with KYC, as well as US users. FTX is known for catering to active derivatives traders and optimizing for high order volume and trading execution speed. FTX cannot be used by US persons however Okcoin can, and both require KYC. Coinbase is a public US company and offers transparency into its industry-leading security along with its brand reputation, while Okcoin is not, but both are US based. 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. There have been no reported hacks of Okcoin and users are encouraged as always to use 2-factor authentication, secure passwords, a new email, and always check links for possible phishing attempts, as always.