OKCoin Review Is it a Scam or Legit Broker

The scams are usually operating in between legit exchanges as well. An average trader and sometimes experienced traders even can’t tell the difference between legit and scam platforms. But you should keep in mind that OKCoin is not working without any regulations. It is properly regulated by financial regulatory authorities; hence it is not a scam. Many professional traders ask a common question – Is Okcoin a scam? Well, scams generally operate in legit exchanges also.

I have sent several direct message on Twitter @okcoinhelpdesk and also your email.. You are affecting my life and nobody care, Is this how you do business and you want more customers. I will keep commenting on every platform till my money has been to me me.

  • If you want the fastest method to purchase cryptocurrencies on Okcoin, you can simply use credit or debit cards to buy the coin you like depositing first.
  • This is what I’ve been saying for awhile people like to complain about btc.sx fees but they are honestly very reasonable.
  • However, the broker is regulated by the EEA which does not provide as strong protection to traders as 1st tier regulatory bodies .
  • So, get this 2FA by going to the Security section and select Google Authenticator.
  • Most users have the choice to use their debit or credit cards or wire transfer.

The higher their trading volume gets, the more the fees decline. 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. If you’re looking for a cryptocurrency exchange that offers multiple cryptos for online trading through exchange platforms, then OKCoin might be right for you. As we’ve discussed in this OKCoin review, it provides traders with many handy trading tools, professional customer support, and educational resources.

Okcoin Account Opening

Neither Bankrate nor this website endorses or recommends any companies or products. Everytime we get settlement, I withdraw my profits and start from scratch. Maybe OKCoin can make their KYC info page better and increase transparency because the questions they asked you in the image you posted is not made available ahead of time. Signed up for it as well, and have been using it, but holy moly what a pain in the ass the entire experience has been.

You want to buy and sell crypto for some of the lowest fees on the market. Some of Okcoin’s competitors go into much more detail in their educational content and cover more subjects. If you’re looking for a platform that will help you expand your crypto knowledge, you may want to explore more crypto reviews. Crypto staking and lending are popular ways to earn rewards on your crypto holdings.

As a complete side note, the kind of strategy you are referring to in #1 drives me crazy. They screw you over unless you complain, and then it’s “oh, sorry, our mistake, we’ll fix that for you” as if they have great customer service. It’s just a blatant strategy to screw everybody that doesn’t notice they are getting screwed. A promotion to give away iPhone6, iMac and a Mercedes car based on futures trading volume. Digital assets are risky, check out the Risk Disclosure Document on your platform of choice for more details and consider getting advice from a professional. Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking.

Okcoin is designed in a way that it offers a pleasing look, fast UI, defined theme, along with the option to get started straight away. Okcoin offers more than 60 popular assets to buy, sell, or trade right away. The variety is not as wide as some other exchanges, but you can still get your hands on many assets that have the potential to grow in the future. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

It also offers cryptocurrencies a lot of U.S. exchanges don’t, like Tron . Deposits and withdrawals on Okcoin are free of charge when made through a bank account. You can also deposit funds using a debit card, but there’s a 3.99% fee.

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OKCoin excels in the area of customer support, especially for a cryptocurrency exchange. The support options available to traders include email, live chat, telephone support, and a ticketing system. Support representatives are professional and friendly with their responses and typically respond within an hour. Additionally, OKCoin features an FAQ page where traders can find answers to most questions they might have. There are a total of 11 tiers, with the final being a 30-day trading volume over $500,000,000 that banks an impressive 0.00% maker fee and 0.02% taker fee. In fact, Okcoin’s 0.00% maker fee actually starts at $10,000,000 in 30-day trading volume.

Trading Platforms

The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff. 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.

Soon after, Okcoin ended its terms with the US customers since apparently, they were not ready to conform with the regulation demands provided by the country. According to Okcoin review, Okcoin’s customer support is excellent, especially for crypto and other exchanges. The support system includes email, telephone support, ticketing system, and live chats. The representatives are not only professional but friendly with quick and effective responses. Moreover, Okcoin features a page just for FAQs answering the most commonly asked questions by average as well as advanced traders.

okcoin review reddit

I made a wire transfer for 517 euros which at the time was $600, now its just under around $598. Yes, Okcoin is available in the US along with many other countries. Users can quickly join the platform and begin their crypto activities by verifying their identities. It stores 95% of crypto funds in cold storage and the rest in multisig hot wallets. Cold storage is offline, so it’s the most secure crypto storage option.

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.

You can go with either of them, depending on your understanding and expertise. If you have specific preferences for trading, you can customize charts and tweak everything available to make it perfect for your needs with the Premier trading platform. 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. The aforementioned points are what make Okcoin an excellent choice for traders and investors. Okcoin is a cryptocurrency exchange that helps millions of people from all over the world to access different crypto assets easily and conveniently.

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Okcoin makes this easy and offers competitive interest rates. You can buy, sell, and trade over 75 cryptocurrencies on Okcoin. That’s a strong lineup, and it gives you plenty of different projects to invest in, from the biggest cryptos on the market to those that are still working their way up the list. Everything is clearly labeled and easy to understand, which is helpful if you’re getting started with crypto.

okcoin review reddit

Or you can also level up to the second verification level so you can deposit a higher amount per day. OKCoin is a cryptocurrency exchange that intends to be accessible for its customers by providing them with many options. OKCoin has a site, first of all, that its customers can use for trading. This can be accessed by the laptop, PC, or other devices which can use the browser. So starting off with the first and most important point that every trader asks, is it a scam or not?

So they usually prefer platforms that understand this and simplify the signing up method. OKCoin is a cryptocurrency exchange that does exactly that. It saves its customers from an arduous process and provides a very quick and simple way for customers to sign up. Okcoin initially accepted USD deposits but issues relating to the intermediary banks troubled several crypto exchanges.

How do I deposit in OKCoin account?

The platform is very comparable to exchanges like Coinbase and Gemini and, thus, best suited for new and passive investors. Your situation seems very unusual considering that we don’t ask customers to pay income tax on cryptocurrency. The limit shouldn’t be changing and only a single purchase/trade should solve the withdrawal problem.

Verification

You shouldn’t be storing the majority of your coins on any exchange anyway. I don’t see them all getting poached by some other more exciting company. From the outside looking in, there aren’t enough facts to make solid sense of it. I don’t know that my take is fair, but I feel it fits the information publicly available currently. okcoin review “Different directions” is a notorious euphamism for “they are making foolish decisions and they couldn’t pay me enough to take part in their determined path”. If not that euphamism, it can also mean “they made changes that I was incapable of adjusting to and supporting”, which reflects poorly on the employee departing.

You have my name and email on your platform, You cant say you not seeing that. You are a wrong people to deal with it and stop the fake reviews you people are doing. I NEED PHONE NUMBER OF WHOM TO SPEAK WITH AND TO SORT THINGS OUT ONCE, NOT TO BE PLAYING ME AROUND. There are tons of crypto exchanges that restrict users from several continents from joining due to various reasons. Only a handful of platforms offer their services to almost the entire world, and Okcoin is one of them, supporting users from over 190 countries.

So each time you fulfill the requirements for a verification level, you get the chance to upgrade. As per the reviews of the traders and the services that OKCoin offers, they all make it so easy for any reviewer to recommend OKCoin as your crypto exchange. But it is your right to be aware of everything before you mark my word.

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. Additionally, for more advanced traders, Okcoin provides a wide range https://forex-reviews.org/ of trade types, such as futures, margin trading, trailing stop, Iceberg orders, etc. Hi there, thanks for taking the time to reach out about this. One reason for the ‘insufficient balance’ error message could be that the 10 business day holding period for deposited funds and purchased crypto hasn’t completed yet.

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