Here is a detailed review of the OKCoin exchange review.
OKCoin Exchange Review
QUICK NAVIGATION :
- About OKCoin
- Features of OKCoin
- Trading platform
- How to setup an account?
- Mobile Application
- OKCoin Referral program
OKCoin is a Chinese digital currency exchange. Founded in the year 2013, the company deals majorly in Bitcoin exchange. The CEO of OKCoin is Star XU and currently, it has 130 employees. The core team majorly has people from some renowned companies such as Alibaba, Tencent, and Huawei. The company has affiliations from OKEX Fintech Company Limited.
Its headquarters are based in Beijing, China. The company’s investor relationships are strong with Ceyuan Ventures, Mantra Capital, Venture Labs, and also a private investor Tim Draper.
There is crypto to fiat currency trading pairs that can be exchanged using this platform. A user can trade USD, Euro and Japanese Yen as fiat currency against Bitcoin, Litecoin, Ethereum, and other digital assets.
Features of OKCoin exchange
The main goal of OKCoin is to encourage more and more people for digital transactions and converting them into the crypto enthusiasts. Additionally, OKCoin uses Blockchain technology thus making the platform encrypted and secure. Thus, transactions would be more efficient, instant and hassle-free.
OKCoin exchange has its technology based on advanced platforms such as GSLB, clusters of distributed servers and dividing the storage. According to OKCoin review, trading is both fast and efficient. It has both cold storage for storing the digital currency and hot storage, which keeps only a percentage of currency online, but even they hold the keys to complete a transaction.
OKCoin is accessible in all the countries in the world, except for the following countries: Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador, and Kyrgyzstan.
Moreover, the platform supports US Dollar wire transfers from banks located in both our US and international areas of operations.
The interface of this exchange is easy and user-friendly. To make the customer experience even handy, OKCoin has a mobile application too. Also, the website is optimised as per the mobile compatibility.
The OKCoin trading exchange provides API as well with great features such as market data, order book with information and history, trade execution and history, etc. OKCoin also provides price charts as tools for trading insights. A user can, therefore, understand the OKCoin market and its price structure and get a clear picture of different digital assets and their current value. It provides 24*7 assistance through its chat servers.
The trading chart at this exchange OKCoin shows the spot for BTC, ETH & LTC. A user can select different view options such as pro, basic & standard candlestick or trading view from the drop-down menu. The data for trading volume can be obtained by setting the timeline accordingly such as minutes, hours, days or weeks. The indicator option is also available such as MA, EMA, BOLL, and SAR. A user can either select one of the indicators for better understanding or simply use the chart without it.
Furthermore, There is also an option of comparison. Always, a trader is worried about other markets when an investment is involved. Thus, using the “compare” option, a user gets to study the OKCoin market thoroughly. The option helps to understand the fees and price structure. The 24-hour market volume and the best bid for a currency can be compared on different exchanges. For e.g. Bitcoin information can be seen on Bitfinex, Coinbase, Bitstamp, BTCC, etc.
How to set up an account?
In order to set up a new account, log on to www.okcoin.com. Click on the “Sign Up” tab to redirect the window to the registration page. A user can select the country and enter the phone number.
Furthermore, for verification purposes, an SMS code will be sent to the registered number. Once the number is confirmed, create a password which is approximately 6-32 characters. Then, Click on “I agree to T&C”. Users can alternatively sign-up with email ID and password as well.
Account verification levels –
To summarise, there are 2 levels of Verification
- Level 1: Phone Verification
- Level 2: Address Verification
Also, Account verification is based on 3 KYC levels.
|Account Registration (KYC 1)||Identity Verification (KYC 2)||Video Verification (KYC 3)|
|Fiat Deposit||❌||$1,000,000 daily limit||$2,000,000 daily limit|
|Fiat and Token Withdrawal||❌||$1,000,000 daily limit (combined)||$2,000,000 daily limit (combined)|
|Token-to -Token Trading||❌||unlimited||unlimited|
|Account Registration (KYC 1)||Identity Verification (KYC 2)|
|Fiat Deposit||❌||$1,000,000 daily limit|
|Fiat and Token Withdrawal||❌||$1,000,000 daily limit (combined)|
The mobile application for OKCoin runs on both Android and iOS. While, A user can run multiple accounts, they can also get real time OKCoin exchange price alerts for crypto and traditional currency. Furthermore, The spots are available for BTC/CNY, LTC/CNY, BTC/USD, LTC/USD. Additionally, A user can also operate margin trading from his mobile application thus providing all the convenience a user needs.
OKCoin Referral program
Furthermore, The exchange platform has started a referral program as they wanted to promote themselves and grow in the market. As per the referral program, traders will receive 30% profits if any user registers using their referral code.
Moreover, the rewards are different based on user Verification level.
To summarise, OKCoin is an excellent exchange for the advanced trading of some of the most popular cryptocurrencies on the market.