Honest Okcoin Review: Features, Fees, Pros & Cons

Honest Okcoin Review: Features, Fees, Pros & Cons

Right now, if you refer a friend to Okcoin, both of you will split $100 in BTC. All the referral has to do is complete verification level 2 and purchase $100 worth of crypto, and each of you will earn $50 in BTC. Rewards earned from referrals can’t be withdrawn for 180 days, which could be frustrating, but it’s still free money after all. As alluded to, Okcoin allows users to earn through either staking or lending.

Mobile App

Coinbase is a public US company and offers transparency into its industry-leading security along with its brand reputation, while Okcoin is not, but both are US based. The requirements for documents for KYC and account tiers can be noted here. Some countries such as the EU, UK, and Singapore require Level 3 KYC to use Okcoin. For example, if a user buys BTC/USD, the fee is charged in BTC. For example, if the user buys BTC/USD, the rebate is paid in USD.

• The assets available to lend are MIA, STX, USDT, USDC, DAI, UNI, SNX, and YFI.
• Okcoin also features articles on cryptocurrency for beginners, which allows you to learn more about the implications of upgrades, crypto news, and blockchain technology.
• Investing money could be one of the best ways to grow your wealth over time.
• In addition to the spot trading exchange, Okcoin has introduced a margin trading platform for its users to long or short-sell Bitcoin and other cryptocurrencies using leverage up to 10x.
• Last but not least, Okcoin has implemented wallet security measures to keep your funds safe.
• However, you should be careful when trading on margin, as leverage might also magnify your losses.
• Xu has a background in technology management and has worked at Yahoo and Alibaba in technical departments and held the position of Chief Technology Officer at Docin.com.

Margex – An Efficient Crypto Trading Platform

To help you navigate the world of crypto exchanges, CryptonewsZ has analyzed various platforms and created a list of top crypto trading platforms for different user types. Our research okcoin review considered key factors such as platform fees, available features, advanced trading tools, security measures, various supported cryptocurrencies, mobile app functionality, and more. Okcoin is a globally licensed crypto exchange platform serving 190+ countries. They have 100+ employees with offices in San Francisco, Miami, Hong Kong, Singapore, and Japan. Okcoin supports crypto purchases with credit cards, offers spot and margin trading, and provides earning opportunities through staking and DeFi lending.

Just open my Okcoin account found I’m…

If you’re more experienced, you may not need to pour over the free educational resources. However, you’ll enjoy access to all of the comparison tools you’ll need to make your trades with confidence. If you regularly trade cryptocurrency, you’ll realize that security is a constant concern. The last thing you want is for someone to access your account and wipe out your stash.

What is the Difference Between a Crypto Wallet and a Crypto Exchange?

So make sure to check out the company’s terms and conditions before you start trading. Navigating the world of DeFi can be complex and overwhelming for many crypto users. OKcoin Earn provides users with the ability to benefit from the power DeFi with the convenience of an easy to use and navigate platform that does the hard work for you. Users can earn crypto rewards and grow their moonbags from DeFi protocols directly integrated seamlessly within the OKcoin app. OKcoin has a premiere option designed for professional traders and business partners.

In addition to various support options, Okcoin has an extensive FAQ page covering a wide range of topics. The page provides traders with answers to most of the questions they might have, empowering them to make informed decisions and become more confident in their trading strategies. Access control is another key aspect of Okcoin’s security measures. Okcoin uses advanced technical architecture to authenticate and authorize every access request made to your account. All user sessions are secure and validated with complete identity protection, ensuring your account is never in the wrong hands. It’s important to keep in mind that Okcoin is a regulated exchange and may require additional identity verification steps before you can begin trading, depending on your location and trading volume.

The exchange uses sufficient security protocols and is trustworthy. Earning interest in cryptocurrencies is becoming extremely popular with the emergence of the decentralized finance (DeFi) market and platforms such as Nexo and Crypto.com. To compete with other exchanges offering borrowing and lending services, Okcoin allows its customers to earn up to 10% interest on crypto. For example, Okcoin offers a flexible term for Polkadot (DOT) with an estimated return of 8% APY. There are zero transaction fees, network gas fees, and ongoing maintenance fees to earn crypto with Okcoin. Okcoin’s trading fees are based on 30-day trading volume with the first tier (less than $100,000) at a 0.1% maker fee and a 0.2% taker fee, which is very reasonable and on par with leading exchanges like Binance.

Okcoin is integrated with plenty of features and options that do a great job offering users an experience they want. If you want to know what services Okcoin provides and whether it would be your first-choice crypto exchange, you can feast your eyes on the points mentioned below. The user’s trading fees are determined by trailing 30-day volume which is recalculated every day at midnight UTC+8. All volume is converted to USD using the exchange rate of the digital asset at the time of the transaction.

Does Okcoin require KYC?

• Considering the security features and past malware attacks, Coinbase and Kraken have been performing best.
• These partnerships do not influence our opinions or recommendations.
• Founded in 2014, this cryptocurrency exchange is not to be confused with OKEx, which was founded by the same person, Star Xu, but OKEx and OKCoin split apart in 2017.
• It is not profit crazed, milking every bit of profit from its users like many other exchanges.
• Kraken offers a slightly greater variety of cryptocurrencies and pairs (over 90 coins, over 400 pairs), so users who value a large selection and advanced traders who seek margin will prefer Kraken over Okcoin.

Let’s take a closer look at what Okcoin is and what it offers users like you. Cryptocurrency exchange is a digital platform where users can buy, sell, and trade various cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. Cryptocurrency exchanges offer a wide range of features and services to accommodate different trading needs.