Honest Okcoin Review: Features, Fees, Pros & Cons

Honest Okcoin Review: Features, Fees, Pros & Cons

Premiere members can benefit from instant funding options via SEN and PrimeX and wire pre-credit up to $100,000 to ensure they can begin trading instantly. If you have a margin balance, there is no cash balance to earn interest. Interest rates for cash sweep and margin investing can change at any time. For those who okcoin review want to trade more than $2,000, there are additional requirements. You need to upload a picture of your government-issued ID to trade up to $1 million. On top of that, you need additional proof of your address and other information if you want to access unlimited trading.

Earn Passive Income from Crypto with These Best Methods

Over time, crypto exchanges have gained popularity among traders worldwide. They have added a new financial growth opportunity for all, and as a result, the number of platforms providing crypto trading services has rapidly increased. Every crypto exchange platform has unique features targeted at specific user needs, which leads new crypto traders to hop from platform to platform.

Signing Up for an OKCoin Account

This means the individual must configure multiple recurring orders to buy Bitcoin, Ethereum or other assets and incur additional deposit fees depending on the payment method. Okcoin is regulated worldwide and supported in 192 countries, such as the United States, Canada, Australia, Singapore, and the United Kingdom, to buy and sell cryptocurrency on its premium trading platform. The exchange, however, does not offer services to residents of Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador and Kyrgyzstan.

This article has covered important aspects of exchanges that are best suited for a broad spectrum of crypto investors and traders. We have also covered the essential features of these exchange networks, like top features, platform fees, security, user type, user-friendliness, coin variety, etc. Additionally, we have provided a crypto exchange list to aid in your decision-making process. With Okcoin, users can access the mobile app on iOS and Android devices. The best thing is that users don’t really have to compromise on their trading experience when using mobile apps. You can check real-time price charts, buy/sell cryptocurrencies, and stake your assets through the app.

they stole my coins

However, it’s not the only platform that provides a secure and reliable experience. A few of the top competitors in the space include Coinbase and Gemini. But we do have to make money to pay our team and keep this website running! TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace.

Conclusion: Okcoin Review

• 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.
• The issues are definitely not that big, but it still is a good idea to keep them in mind so you won’t face problems later.
• It could be a good choice for advanced traders interested in trading pairs, and it has some features that might appeal to beginners.
• 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.
• For fiat deposits and withdrawals, OKCoin has some of the best fee practices around, as almost all their deposits and withdrawals through bank transfers are free and have very reasonable minimums.
• The company has discovered their identity, brand and niche in the crypto industry.
• For those who want to trade more than $2,000, there are additional requirements.

Binance wins in the fee department easily due to its incentives and reductions. Okcoin also offers some reductions but its reductions are not as aggressive as those by Binance. Gemini offers 62 coins and 86 trading pairs which is about the same as the amount offered by Okcoin.

• Okcoin offers a streamlined cryptocurrency exchange experience.
• In our opinion, the TradingView mode is far superior as it offers hundreds of technical indicators, chart patterns, and drawing tools that can be applied to each trading pair.
• Crypto assets do not have a minimum withdrawal listed at this time.
• Okcoin is geared more toward frequent traders, with fees based on your 30-day average trading volume.
• Finally, Okcoin allows users from almost the entire world to join their platform and invest in crypto.
• Yes, as previously noted, Okcoin offers its users a secure trading experience.

Earn up to an insane 145% APY on tokens like MiamiCoin and around 1.5-16% on over 20 different cryptocurrencies and stablecoins. OKcoin likes keeping things simple, which is why there is just one basic personal account type that is suitable for all users and a corporate account option for businesses. It is important to note that different verification levels grant traders greater deposit and withdrawal amounts. It feels like a full-time job just trying to keep track of it all which can be a pain. I felt it was worthwhile sharing this find with the Coin Bureau community as feeless staking and rare coin support on a regulated exchange is, well…rare.

Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. Deposit and withdrawal fees on the Okcoin exchange depend on the payment option used. Debit cards are available for users globally and have the highest deposit fee of 3.99%, similar to using Coinbase.

Another similarity is in Gemini’s presence of crypto financial services offerings, which are also similar to Okcoin’s Earn product. US investors and traders are allowed to use Gemini with KYC verification only, since Gemini is regulated and based in the USA, however as a result, Gemini offers no margin or futures products. Okcoin offers only spot offerings as well, and also does allow US investors. There are no fees to withdraw money from Okcoin into a bank account except for SEPA and international wire transfers. Withdrawing Euros via SEPA and international wire has a fee of €1.5 and €35, respectively.

Whether you are buying or selling, Okcoin charges a 1-1.5% spread fee, but deposits and withdrawals are free (barring a few exceptions). Card deposits or purchases will incur a 3.99% fee, and ApplePay purchases will incur a 4.25% fee. These fees are on the higher end, so I would encourage anyone on the platform to avoid paying with a credit card.