Cryptocurrency Exchange

OKCoin Exchange Review- Bitcoin and Litecoin Exchange Platform

Overview

Legal NameOkCoin Exchange
HeadquartersHong Kong
CEOTim Byun
Year Founded2013
Exchange TypeCentralized
Trading FeesMaker: 0.10%/ Taker: 0.20%
Deposit MethodsWire Transfer, Credit Card and Cryptocurrency
Supported CryptosBitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and more
FiatNo
Customer ServiceEmail, Phone
Trading OptionsSpot Trading, Margin Trading

There have been a variety of trading platforms increasing following the emergence of cryptocurrency. They give consumers the option to convert one cryptocurrency, such as Bitcoin, to another altcoin.

Each exchange has its own features, which must be known before you entrust the security of your funds to these exchanges.

OKCoin is one of the world’s leading crypto trading platforms. Created in 2013, OKCoin offers unique features for both newcomers and high-volume traders.

In this article, we will provide you with the complete guide on the Okcoin exchange and look into its aspects such as its features, fees, pros and cons and much more. Let us look into detail in this Okcoin exchange review now,

What is Okcoin?

OKCoin, with over 16 million bitcoins traded per month, is the world’s biggest bitcoin exchange by volume. Based in Beijing, China, The cryptocurrency exchange was set up in the year 2013. Star XU is the CEO of the OKCoin Exchange.

OKCoin primarily offers services to Chinese and Asian end-users, but encourages users from all over the world. The firm has a good investment relationship with Ceyuan Ventures, Mantra Money, Technology Labs and private investor Tim Draper.

OkCoin Features

  1.  Trading: OKCoin features one of the most popular and secure exchange sites for Bitcoin trading and a small few other cryptocurrencies. The system comes complete with an interactive graph that can be viewed in full screen.
  2. Security: OKCoin has proved to be a very secure exchange and uses the latest authentication and encryption standards to protect its customers.
  3. Customer Support: The support options available to traders include email, live chat, telephone support, and a ticketing system.
  4. Mobile App: There is the OKCoin mobile application that can be downloaded from both the App Store and Google Play.

OkCoin Fees and Limits

OKCoin’s exchange taker fees are 0.20%. This fee is in line with the average of the industry. The exchange also provides a discount to makers who trade at a fee of 0.10%

OKCoin does not charge any transaction fees at all for the withdrawal of BTC. OKCoin includes bank transfers, cryptocurrencies and credit cards as deposit methods.

OkCoin Supported Currencies

The OkCoin Exchange currently supports multiple cryptocurrencies. Some of the major ones include:

  • Bitcoin
  • Litecoin
  • Ethereum
  • Bitcoin Cash
  • Ethereum Classic
  • Monero
  • DAI
  • EOS Token

OkCoin Mobile App

OKCoin can be downloaded from both the App Store and Google Play. It is also available as a download client for both MacOS and Windows.

mobile-app-okcoin

How to register on OkCoin?

Step 1: Navigate to the Official Website and click on the “Sign Up” Option

Step 2: Individual users should click “Open Personal Account” while corporate users who expect to have multiple individuals access the account should click “Open Institutional Account”.

Step 3: Now enter either an email address or phone number, and click the “Get Code” button.

Step 4: If you have a referral code, you can enter it into the “Referral Code” field.

Step 5: Enter the code in either the “Email code” or “SMS code” field.

Step 6: Agree to the terms and the conditions and then click on the Sign up button

How to recover the OkCoin password?

Step 1: Click “Forgot Password?” on the Login page.

Step 2: Enter the account username, either email address or phone number and verify the alphanumeric text. Then click “Next”.

Step 3: Enter and confirm a new account password.

How to deposit on OkCoin?

Step 1: log into your account, and go to “MyAssets” and click on “Deposits”.

Step 2: On the Deposit page, select the type of crypto you are going to use (e.g. BTC, ETH).

Step 3: Then, select the amount you want to deposit.

Step 4: Next, select the crypto address you are going to send the crypto

How to withdraw on OkCoin? 

Step 1: On the Fund page, click “Token Withdraw” on the left column.

Step 2: Choose the token to be withdrawn, add the withdrawal address.

Step 3: Enter the details in “add address”.Step 4: Fill-out the token withdrawal information click “Confirm withdrawal” to submit.

How to buy cryptocurrencies on OkCoin?

Step 1: Login to your account, Go to the Trade Page.

Step 2: On the Trade page, choose your trading token on the left side column.

Step 3: Click the Buy Option.

Step 4: Now fill out the price, amount you would trade on.

Step 5: After entering your trading password, click Buy.

How to sell cryptocurrencies on OkCoin?

Step 1: Login to your account, Go to the Trade Page.

Step 2: On the Trade page, choose your trading token on the left side column.

Step 3: Click the Sell Option.

Step 4: Now fill out the price, amount you would trade on.

Step 5: After entering your trading password, click Sell.

OkCoin Pros and Cons

Pros

  • It provides high liquidity
  • Low and competitive fees
  • Advanced trading platform
  • Can trade on Margin and in Futures markets
  • Fiat currency deposits and withdrawals

Cons

  • Verification required for withdrawals
  • A small variety of tradeable cryptocurrency assets

Conclusion

OKCoin is an outstanding platform for advanced trading of some of the most common cryptocurrencies on the market. The exchange is very liquid, and many people from all over the world trust it. 

The OKCoin trading platform is very user friendly and well built. It also provides specialised forms of trading and services for experienced traders

Recent Updates

  • On Oct 06, 2020, OKCoin COO Jason lau spoke at the LA blockchain summit on liquidity, volume, and the future centralized exchanges.
  • On Sep 29, 2020, OKCoin’s Alex feinberg sits down for a livestream podcast chat with Adam Townsend
  • On Sep 28, 2020, OKCoin Airdrops recipients are now receiving their $BTC drop worth $25 USD
  • On Sep 24, 2020, OKCoin added more DeFi tokens for the users to buy or trade

okcoin - 8.4

8.4

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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