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OKCoin

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United States

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2013 (12 Years)


Safe

4.23/5

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License

5.00

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Verification on TrustFinance

0.00

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Traffic & Engagement

3.33

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License

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License grade B image

FinCEN...

Regulated

Regulated By: United States

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What are the differences in regulations for each ?

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Company Information

Get to know OKCoin

Okcoin is on a mission to make crypto investing and trading easily accessible to anyone around the world. We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto.

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Review Analytic

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A

ndubuisibrenda12

Direct review

Great

Overall Thought

Yes, please! Here is an evaluation of OKCoin: "It was a breeze utilizing OKCoin for my cryptocurrency purchases! I had no trouble registering, and I felt secure thanks to their security measures. Impressive cryptocurrency selection that appeals to all types of investors. Real-time price updates enable me to make wise selections. The layout of the program is simple and makes trading enjoyable. There have been a few issues in the past, but their support staff responded quickly. "OKCoin gets a thumbs up!" When are you ready for the next business review? Please let me know!

Sep 9, 2023
A

Abdulshahid Abdussalam

Direct review

Great

Overall Thought

Sure thing! Here's a review for OKCoin: "Had a seamless time using OKCoin for my crypto purchases! 🪙 The registration process was a breeze, and their security measures put me at ease. 🔒 The variety of cryptocurrencies available is impressive, catering to all kinds of investors. 💰 Prices are updated in real-time, helping me make informed decisions. The app's layout is intuitive, making trading a joy. 📱 A few glitches in the past, but their support team was quick to assist. 👏 Thumbs up for OKCoin!" Let me know when you're ready for the next company review!

Aug 29, 2023
A

adebayoezekiel09

Direct review

Excellent

Overall Thought

OKCoin's robust security measures and strict compliance ensure the safety of users' funds. Additionally, their responsive customer support team is always available to assist with any inquiries. Overall, OKCoin is a reputable and efficient platform for hassle-free cryptocurrency trading

Aug 27, 2023
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Provided by TrustFinance AI Analysis

Reviews

| Total 527

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AI Review analysis

Let’s TrustFinance AI Summarize all the reviews for you.

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5 Star

83%

4 Star

14%

3 Star

1%

2 Star

1%

1 Star

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Company profile image
Direct review Dot icon23 Jan

Overall Thought

Excellent

An amazing cryptocurrency trading app that is secured, safe and simple to used, has good security features, real time up to date trading evaluation. good platform to invest.

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Direct review Dot icon14 Dec

Overall Thought

Great

It is a good crypto currency trading app and has good operating management

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A
Direct review Dot icon15 Sep

Overall Thought

Excellent

Very flexible in cryptocurrency trading. Great networking security system and customer's service. I recommend.

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n
Direct review Dot icon9 Sep

Overall Thought

Great

Yes, please! Here is an evaluation of OKCoin: "It was a breeze utilizing OKCoin for my cryptocurrency purchases! I had no trouble registering, and I felt secure thanks to their security measures. Impressive cryptocurrency selection that appeals to all types of investors. Real-time price updates enable me to make wise selections. The layout of the program is simple and makes trading enjoyable. There have been a few issues in the past, but their support staff responded quickly. "OKCoin gets a thumbs up!" When are you ready for the next business review? Please let me know!

Read more
h
Direct review Dot icon3 Sep

Overall Thought

Excellent

💯An amazing cryptocurrency platform is very secured and simple to used.

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Summarization

OKCoin Crypto Exchange Review: A Comprehensive Guide

Overview and General Information

OKCoin, established in 2013, initially focused on Bitcoin trading. It has since evolved into a comprehensive cryptocurrency exchange offering a range of services to both individual and institutional investors. The exchange prioritizes regulatory compliance, adhering to the highest standards in the US and globally. It operates in over 190 countries, though some features may have regional restrictions due to local policies. The platform's KYC (Know Your Customer) compliance ensures a secure and regulated trading environment. This review will delve into the specifics of OKCoin's offerings, addressing its strengths and weaknesses to provide a comprehensive understanding of its suitability for various users.

Products and Services Offered by OKCoin Crypto Exchange

OKCoin offers a suite of products and services designed to cater to a diverse range of cryptocurrency trading needs. Its core offerings include:

  • Fiat Trading: Facilitates the exchange of fiat currencies (like USD, EUR, etc.) for major cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).
  • Spot Trading: Allows users to buy and sell cryptocurrencies at the current market price. This is a fundamental feature for most crypto traders, offering immediate execution of trades.

Beyond the core offerings, OKCoin also provides value-added services:

  • Earn Program: This program allows users to earn crypto rewards by staking their assets. This passive income strategy provides an attractive way to generate returns on held cryptocurrencies. OKCoin offers both fixed and flexible staking terms, conveniently eliminating additional transaction, gas, or service fees.
  • API Documentation: Provides comprehensive documentation for its REST and WebSocket APIs, empowering developers and institutional investors to integrate OKCoin's trading capabilities into their systems. This API is accessible through a unified account.

Product Features and Conditions

Understanding the cost structure and operational aspects of an exchange is crucial. OKCoin's fees are structured using a tiered system based on the user's 30-day trading volume. This means higher trading volume generally results in lower fees. The fee structure is transparently detailed on their platform.

Transaction Fees:

  • Maker Fees: Range from 0.10% to 0.00% depending on the trading volume tier (P0 to P10).
  • Taker Fees: Range from 0.20% to 0.02% depending on the trading volume tier (P0 to P10).

Deposit and Withdrawal Fees: OKCoin itself does not charge deposit fees. However, users may encounter handling and intermediary fees levied by third-party payment processors or banking institutions involved in the transaction. These fees are outside of OKCoin's direct control and vary depending on the payment method and location.

Contact Channels and Customer Support

OKCoin strives to provide robust customer support channels, though the extent of readily available channels might be limited compared to some larger exchanges. The readily available contact methods include:

  • Email Support: Access to email support is available via their support website.
  • In-Platform Chat: Live chat support is integrated directly into the OKCoin platform, allowing for quick and convenient communication with support staff.
  • Phone Support: At the time of this review, a dedicated phone support line was not explicitly listed on their website.
  • Physical Branch Locations: OKCoin does not have physical branch locations for in-person customer support.

OKCoin emphasizes its commitment to providing high-quality customer support to both beginners and experienced traders. However, the actual response times and support quality may vary depending on the volume of support requests and the complexity of the issue.

Pros and Cons of OKCoin Crypto Exchange

Pros

  • User-Friendly Platform: OKCoin aims for accessibility, providing a user-friendly interface designed to be intuitive for both novice and experienced cryptocurrency traders.
  • Regulatory Compliance: OKCoin's commitment to regulatory compliance provides users with a greater sense of security and trust, mitigating potential risks associated with unregulated exchanges.
  • Incentives for Market Makers: The exchange offers competitive incentives for professional market makers, contributing to liquidity and potentially better pricing for all users.

Cons

  • Limited Availability of Services: Due to varying regional regulatory landscapes, some services and features might be restricted in certain geographic locations.
  • Dependence on Third-Party Institutions: Users should be aware of the potential for fees from third-party payment processors during deposits and withdrawals, as these fees are beyond OKCoin's direct control.

Summary of OKCoin Crypto Exchange Review

Who is it Best Suited For?

OKCoin's features and services make it a suitable choice for a range of users:

  • Individual Traders: The user-friendly interface and competitive fees make it an attractive option for individual traders of all experience levels.
  • Institutional Traders: The platform's regulatory compliance and robust API provide the necessary infrastructure for institutional investors looking for a secure and efficient trading environment.

Final Thoughts on Value and Choosing the Company

OKCoin offers a compelling value proposition by combining a secure and user-friendly platform with competitive fees. Its commitment to regulatory compliance instills trust, making it a viable option for both individual and institutional investors. However, potential users should carefully consider the potential for third-party fees and any regional restrictions on services before making a decision.

Frequently Asked Questions about OKCoin Crypto Exchange

While a dedicated FAQ section wasn't readily available on the official website during this review, many user questions can likely be answered through their comprehensive support channels. Contacting OKCoin's customer support team via email or in-platform chat is the best way to receive specific answers to your questions.

Key Takeaways

  • OKCoin is a well-established and regulated cryptocurrency exchange.
  • It offers a user-friendly platform with competitive fees and a range of services.
  • Regional restrictions on services exist due to varying regulatory landscapes.
  • Third-party fees may apply to deposits and withdrawals.
  • Customer support is primarily available through email and in-platform chat.

References

  • [1] https://www.bitdegree.org/top-crypto-exchanges/okcoin
  • [2] https://www.cryptowisser.com/exchange/okcoin/
  • [3] https://www.okcoin.com/docs-v5/en/
  • [4] https://www.tealhq.com/company/okcoin
  • [5] https://support.okcoin.com/hc/en-us/articles/360015261532-Okcoin-fee-rates

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