Following the development of cryptocurrencies, there has been an increase in the number of trading platforms. You must study the reviews before entrusting the security of your assets to the exchange.
OkCoin is one of the world’s leading crypto platforms. According to Coinmarketcap, it is among the top 30 exchanges with 24hr trading volume of $26,110,491 (March 2022).
OKCoin has features that are beneficial to both newbies and high-volume traders.
In this post, we’ll provide you with a comprehensive overview of the OkCoin exchange, including its features, FAQs, fees, reviews, pros, and cons.
| Legal Name | OkCoin |
| Official Web Address | https://www.okcoin.com |
| Headquarters | San Francisco, California. |
| Founders | Star Xu |
| CEO | Hong Fang |
| Exchange Type | Centralized |
| Trading Options | Spot, margin, OTC |
| Trading fees | Maker fee: 0.10%~0.00%, Taker fee: 0.20%~0.02%. |
| Trading pairs | 70+ |
| Native Token | No |
| Deposit methods | Bank transfers, Crypto wallet transfers. |
| Deposit fees | debit/credit card : 3.99% |
| Withdrawal methods | Bank transfers, wire transfers, crypto wallets. |
| Withdrawal fees | Withdrawal is free except for SEPA transfer depending on the payment channel. |
| Supported Countries | 192 |
| Restricted countries | 11 – Cuba, Iran, North Korea, Sudan, Syria, Malaysia, Crimea, Bangladesh, Bolivia, Ecuador, &, Kyrgyzstan |
| Supported fiat currencies | USD, Euro, Japanese Yen. |
| Mobile App | Google Play, App store |
| Customer Support | Email: live chats, ticketing systems |
Launched in 2013, Okcoin is a Chinese-based cryptocurrency platform and is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore, and Japan.
The founder of Okcoin exchange is Star Xu, and the current CEO is Hong Fang who was appointed in march 2020 by replacing Tim Byun.
OkCoin is a centralized cryptocurrency exchange that offers 65 cryptocurrencies and 77 trading pairs. With 100k+ active traders, 190+ countries served, it is ranked among the top cryptocurrency exchanges by volume.
OkCoin supports crypto-to-crypto and crypto-to-fiat currencies, it stands out to be a complete hub of a crypto exchange features like multiple payment methods, active deposits, advanced trading, client solutions, mobile app, OTC, staking, and, attractive affiliate program.
The exchange has a trading volume of $26 million as of March 2022, which is a 12% increase from Feb 2022($14 million).
The firm has a good investment relationship with Ceyuan Ventures, Mantra Money, Technology Labs, and private investor Tim Draper.
Yes, Okcoin is safe and secure. Okcoin claims that ‘Security is at the heart of everything we do’ and keeping the breaches at bay since 2013.
Okcoin uses multi-factor authentication each time when users make deposits, withdrawals, or trade orders.
While transmitting data, uses SSL encryption; when storing data, uses AES encryption; and when destroying data, uses secure measures. Your data is safe and secure thanks to end-to-end encryption.
Your funds are safe since they are inaccessible with a single key and require at least 3 to 5 signatures to be processed, with over 95% of your crypto in offline cold storage and a small fraction in multisign hot wallets.
Okcoin does not charge any fee for deposits and withdrawals but the bank you are dealing with may charge an intermediate fee.
For debit/credit card transactions Okcoin charges a 3.99% fee, the trade is executed instantly. The exchange charges a spread fee from 1%~1.5%.
The trading fees are calculated based on 30-day volume. For SEPA transfers in European regions, the deposit fee is €0.20 + 0.3% and the withdrawal fee is €1.5. For more information visit Okcoin Fees.
As of March 2022, Okcoin offers 65 coins and 77 trading pairs according to Coingecko. Some of the important ones are :
Some important trading pairs :
New listings: SPELL/USD, MIM/USD.
As of March 2021, the following are the suspended pairs on Okcoin exchange
ETC/USD
Okcoin offers its services to 192 countries including:
Okcoin mobile app is available on Google Play and the App Store. It is also available for macOS and Windows. The app makes it easier to trade when you are out and see what’s happening in the market.
For iPhone users, the file size is 370.4MB. Requires iOS 11.0 or up and rated 4+.
For android users, the file size is 104 MB. Requires Android 5.0 and up. Rated 4+.
4. Select the withdrawal method and enter the amount.
5. Enter the wallet address. Submit your request.
6. Okcoin will send you a confirmation Email and your withdrawal process is complete when you confirm the details in the Email.
As per the Trustpilot review, Okcoin Exchange has been rated 3.9 out of 5, and the users review majorly talk about the terms like easy user interface, low fee transactions, quick execution of trades, responsive support, and, late withdrawals.
As per the Reddit review, Okcoin exchange traders’ comments were mainly on, no way to withdrawals, rewards not reached even after a month, suspending accounts, withdrawals only available on wire transfers, etc.
Okcoin initially permitted USD deposits, however complications with intermediary banks plagued multiple crypto exchanges, and they were unable to comply with the country’s regulatory regulations.
It takes 1 – 5 business days to withdraw, however it depends on the region and the payment channel you are using.
Okcoin is in the top 30 exchanges with a $100 million daily crypto trading volume. It does not have any hack event history and has shown significant growth over the years.
The total quantity of bitcoin accessible in payment channels limits the amount of bitcoin you may transmit through the Lightning Network.
The Lightning Network is designed for small bitcoin transactions and is not suitable for large bitcoin transactions.
| Cybersecurity | 8/10 |
| Liquidity | 9/10 |
| Customer support | 5/10 |
| Online reputation | 9/10 |
| Total Trust score | 9/10 |
Okcoin is a very reliable and safe exchange as we have discussed above. It offers pro trading with advanced features for beginners as well as experienced traders. The exchange is quite liquid, and many individuals from all around the world have confidence in it.
The trading platform for Okcoin is incredibly user-friendly and well-designed. It also offers specialist trading and services for seasoned investors.
As Q2 begins, crypto markets are showing signs of renewed optimism — and with it,…
Pepe Coin (PEPE) has been one of the biggest meme coin success stories, delivering more…
Brandt believes that Bitcoin price is not yet out of the woods unless it consistently…
With centralized exchanges reclaiming relevance in 2025, ecosystem tokens like WhiteBIT Token (WBT) are drawing…
The global AI market is projected to reach $243.7 billion in 2025, growing at a…
After the approval of Bitcoin and Ethereum ETFs, the crypto world is now wondering which…
