It is still a private company with Series B funding with at least $10M in funding. From making your first crypto trade to becoming a seasoned trader, you’ll have us to guide you through the process. Switch to our Europe site for products available in your region.
One place for your AI and productivity tools
However, the fee schedule at Okcoin is quite competitive and goes head-to-head with these other top exchanges, so it still works well for advanced and high volume traders. It’s an overall rank of the specific exchange compared to all other crypto exchanges in the market. International users who can use FTX International may prefer FTX. US users trading at FTX US need to do KYC procedures and may prefer it over Okcoin as well, but the two are similar in strengths. Fees will be more competitive at FTX as a trader’s volume is higher and the fee structure is transparent and clear, since FTX offers both fee incentives for volume and for holders of its FTT token.
What are the Deposit and Withdrawal Methods and Fees for Okcoin?
The Binance exchange is not at all accessible to US persons and US customers will have to use Binance US which is a much more limited version of its global parent site, with only 64 coins and 130 pairs, which is quite similar to that of Okcoin. Hence, US users who cannot use Binance International may opt for Okcoin or Binance US equally. FTX is known for catering to active derivatives traders and optimizing for high order volume and trading execution speed.
- Users with Level 2 KYC can make deposits and withdrawals up to 1,000,000 USD per day.
- It is still a private company with Series B funding with at least $10M in funding.
- The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
However, we encourage you to consult with a qualified financial advisor before making any investment decisions okcoin review based on the educational information you find here. The information found on this site does not constitute financial advice. Yes, all users of Okcoin are required to undergo KYC verification procedures as per its KYC/AML terms.
- All crypto transactions at Okcoin are instant after being approved if required, but fiat withdrawals are noted to be able to take up to 2-5 business days for bank transfers to complete.
- Premier members receive access to dedicated coverage, accelerated fiat processing, and a range of other exclusive product features.
- The information found on this site does not constitute financial advice.
- As of today, Okcoin operates its exchange for non-Chinese customers around the world.
- International users who can use FTX International may prefer FTX.
If an order does not execute, there is no fee charged until it does execute at a later point, or it can be canceled. The exchange requires KYC (Know Your Customer) identity verification protocols to be completed for use of the exchange, based on jurisdiction requirements. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
Currently, official OKCoin.cn X account doesn’t exist or wasn’t submitted. 🔆
BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. These are the project’s quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Does Okcoin require KYC?
Binance requires full KYC now to trade even spot products, and Okcoin requires full KYC as well to use. Advanced traders and intermediate users alike who value a large selection of cryptocurrencies, products like staking, lending, and more, competitive fee structures, and futures and margin products will probably prefer Binance. Traders looking solely for the most advanced trading options such as high leverage margin and futures products specific to crypto only will prefer Binance, as it offers many USDT futures pairs not found anywhere else besides potentially OKX or FTX.
Currently, official OKCoin.cn Reddit account doesn’t exist or wasn’t submitted. 🔆
In 2013 when the Chinese government cracked down on cryptocurrency exchanges and businesses, the exchange had to halt trading for local customers that year and again in 2017. When China banned all ICOs, Okcoin decided to halt CNY fiat pairs. As of today, Okcoin operates its exchange for non-Chinese customers around the world.
BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor. These are the project’s quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project. All crypto transactions at Okcoin are instant after being approved if required, but fiat withdrawals are noted to be able to take up to 2-5 business days for bank transfers to complete. Users with Level 2 KYC can make deposits and withdrawals up to 1,000,000 USD per day.
Okcoin also offers institutional services for institutions such as asset managers and hedge funds, intermediaries, liquidity providers, trading firms, and more. This is done with the exchange’s more advanced trading platform geared for institutional use, 24/7 global client services, flexible settlement options, and account management APIs. Kraken offers margin trading at up to 5X leverage even for US investors and several other margin offerings, while Okcoin offers none, so if margin access is a concern then Kraken is a clear choice. US users will prefer Kraken for its regulatory compliance and strong track record if they are traders especially.
Crypto Security
It is a quantitative metric calculating how many cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours on this specific crypto exchange. Gemini offers 62 coins and 86 trading pairs which is about the same as the amount offered by Okcoin. Another similarity is in Gemini’s presence of crypto financial services offerings, which are also similar to Okcoin’s Earn product. In addition, the exchange’s total selection of trading products is limited to only a moderate amount of spot trading options. As such, Okcoin cannot compare to more derivatives heavy exchanges such as OKX, FTX, or Binance.
