No one wants to wait hours or days to get a response to a query, but without a live chat option, this could be what you have to deal with on Okcoin. Their customer support is definitely not on par with the standards of the modern world. If you have any type of concern or issue, you have to go with the old method of submitting a ticket and await a reply. This is not only time-consuming, but inefficient and troublesome. If you want yourself connected to the cryptocurrency world all the time, then you need a mobile phone to help you do so. Not only can smartphones allow you to keep up with the latest trends, news, and signals, but they can even help you trade, invest, or use financial services quite easily.

You can import all your transaction into ZenLedger via a CSV Import or an API code import. After doing this, the software automatically calculates your gains, losses, and cost bases from Okcoin investing activity. After reviewing the transactions, you can use the software to report your Okcoin taxes. 2FA or 2-Factor authentication secures your account and confirms the identity of the user by using a combination of 2 different factors. You can activate this feature by navigating to the Security section and selecting Google Authenticator.

• I planned to hold for awhile anyway and their 6 month wait requirement wasn’t an issue.
• Compared to other software packages such as Coinigy, Quadency and Shrimpy, Tradingview is one of the best places to chart crypto.
• It took several weeks, and all responses were from foreign counties received in the middle of the night.
• The exchange explains how to set up an account and start buying cryptocurrencies right from its homepage.
• Starting this project its founders declared they wanted to create the international crytpocurrency trading service.

The application accommodates all the features of the web-based platform in a mobile-optimized version. The exchange has a noticeably advanced and robust trading platform for Bitcoin trading and a few other selected cryptocurrencies. The web-based trading platform is built for more professionally inclined traders, but at the same time, beginners will also find it easy to use. Okcoin is among the best digital asset trading platforms and one of the reasons it is among the best is that it is user-friendly for beginners and individuals. The exchange aims to provide efficient and reliable services by eliminating trading barriers such as margin trading from its platform. Their Subreddit and Telegram were jammed packed with posts claiming they were a « Scam » because users couldn’t withdraw the coins they just bought.

Trade With A Regulated Broker

Headquartered in San Francisco, California, Okcoin has offices in Hong Kong, Singapore, Malta and Japan. Okcoin is a registered money services business with the Financial Crime Enforcement Network . To conclude our review of Okcoin, overall the exchange is well-suited for beginners to use a regulated and trusted platform to buy cryptocurrencies.

You can set up recurring buys of any cryptocurrency to dollar cost average automatically. In the trade desk you can monitor charts, get quotes, and place orders with advanced controls. You can also fund your account for free with lightning transfers of up to 0.1 BTC.

Mobile Support

That’s a significant perk when you consider how some exchanges make your hunt for contact information. You can also use these venues to send the company suggestions for further enhancement of the customer experience. After you’ve signed up for an account through the exchange, you’ll gain access to the full range of options offered. The charges came on the heels of a group of investors who claimed they’d incurred major losses due to a system crash on the platform. They claimed that Xu’s other crypto exchange, OKEx, had orchestrated the crash. You can also rest assured your funds are safe with the exchange.

I have been trying to withdraw my secret crypto for over a month. I am receiving an error message « the mainnet upgrade is in progress to optimize the networks overall performance ». We were able to pass your ticket along and did receive confirmation that you’ve been in contact with our team. If you’re still having problems, please don’t hesitate to send us a DM at @okcoinhelpdesk and our escalations team can take another look. You’re looking for a platform with a smooth design that makes it easy to jump in and start investing.

Deposits and Withdrawals Options

Once the transaction is completed, the purchased asset will appear within the Okcoin wallet once the payment has cleared. Earning interest on cryptocurrencies is becoming extremely popular with the emergency of the decentralized finance market and platforms such as BlockFi, Nexo and Hodlnaut. To compete with other exchanges offering borrowing and lending services, Okcoin allows its customers to earn up to 10% interest on crypto.

Okcoin reviews provide unbiased information but should not be taken as financial advice. The simple advice is to conduct intensive research on the platform before investing. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. It stores 95% of crypto funds in cold storage and the rest in multisig hot wallets. Cold storage is offline, so it’s the most secure crypto storage option.

That said, the regulatory information about the exchange remains scant on the exchange’s current website. And some customers have trouble getting past the meagre choices when it comes to coin offerings and the languages you can access the platform in. Even after you make it through the first level of verification, you won’t be able to add fiat currency to your account until you endure the second round.

You can check real-time price charts, buy/sell cryptocurrencies, and stake your assets through the app. OKCoin is a digital asset trading platform, established in 2013 by Star Xu in Beijing, China that offers fiat trading with cryptocurrencies for individuals and professionals. Their mission is to create an efficient, reliable and secure platform that removes any trading barriers globally.

When level 1 of verification is complete, you can only withdraw up to 2 Bitcoin. If you wish to withdraw more, you have to complete the second level of verification by providing images of your passport and address proof. Moreover, if you want to withdraw more than 50 Bitcoins, you have to get in touch with business support.

Let’s take a closer look at the company’s precautions to keep customer funds safe and secure. It is a Margin Trading Service that invests your money and when they lose, they clayback your account to pay for the over charge lose. Our mobile app makes it easy to buy crypto and see whats happening with your portfolio while youre out and about.

Okcoin Review 2023: Is Okcoin Exchange Regulated?

Overall, using Okcoin is highly suited to beginners that are purchasing crypto with fiat and want a basic exchange to monitor their investment performance. There are tons of crypto exchanges that restrict users from several continents from joining due to various reasons. Only a handful of platforms offer their services to almost the entire world, and Okcoin is one of them, supporting users from over 190 countries. It does not matter if you are from the US, Asia, Africa, or Europe, there is a high chance you can set up an account with Okcoin. As of now, Okcoin is based in San Francisco, California, and is considered to be one of the biggest crypto exchanges on the internet. Having employed hundreds of people to work for their organization, Okcoin focuses on making their services up to the standards of the latest blockchain industry and users’ requirements.

Compare with the best alternative exchanges

The biggest drawback to using OKcoin is its lack of asset support. OKcoin has undertaken a challenging mission and is dedicated to being a cost leader in the space. They want as many people as possible to reach a level of financial health by offering https://forex-reviews.org/ the lowest fees and allowing users to keep 100% of what they earn in the Earn section. If you link a bank account or use lightning transfers for depositing and withdrawing, and you have a high order volume, Okcoin is an extremely cheap exchange.

OKCoin reviews

The advanced platform gives you more charting tools, which are helpful for more experienced investors. For comparison, many popular crypto exchanges have fees starting at 0.5%. You’ll keep extra costs to a minimum when you invest in crypto with Okcoin, and over time, that makes a difference.

We make it easy to learn about and buy your first crypto assets. Digital assets are risky, check out the Risk Disclosure Document on your platform of choice for more details and consider getting advice from a professional. When you visit Okcoin, you will get the option at the top right corner to signup. The whole procedure is simple and you can start trading or investing right after verifying your account and identity. You only have to KYC verify if you deposit or withdraw more than the limit for your country.

Enter your email and a password or sign up with Google SOS or Telegram. They will ask you to verify your identity at this point with an ID, but you don’t have to if you deposit less than the limit for your jurisdiction. For example if you want to deposit $499 in the US you can skip this step for now.

Take a look at the OKcoin Supported Assets page to find out which cryptocurrencies are available. OKcoin underwent a total rebranding overhaul in April 2021, changing the look and feel and the platform and what a fantastic upgrade it was. The company okcoin review has discovered their identity, brand and niche in the crypto industry. The platform is very user friendly and is suitable for both advanced and beginner traders and hodlers alike. The OKcoin platform is very clean, easy to navigate and simple to use.