OKCoin.cn exchange is marked as ‘Inactive’ because of inactivity or insufficient amount of data. The minimum withdrawal amount for Okcoin is listed on this page and ranges from $50 USD for wires for fiat withdrawals to no minimums for ACH fiat. Crypto assets do not have a minimum withdrawal listed at this time.
What are the Deposit and Withdrawal Methods and Fees for Okcoin?
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. US investors and traders are allowed to use Gemini with KYC verification only, since Gemini is regulated and based in the USA, however as a result, Gemini offers no margin or futures products. Okcoin offers only spot offerings as well, and also does allow US investors.
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 exchangeโs 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.
- All volume is converted to USD using the exchange rate of the digital asset at the time of the transaction.
- 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.
- 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, and is valued in Bitcoin.
- Corporate accounts can include 20 or more designated individuals).
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.
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.
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. Okcoin also takes steps to ensure data security by using SSL encryption during data transmission with AES encryption and using secure techniques when destructing data. Lastly, Okcoin keeps over 95% of funds in offline cold storage and a small fraction on multisig hot wallets so funds are safe because they are inaccessible with a single key and need at least 3 to 5 signatures approved before they can be processed. Firstly, they focus on platform security by partnering with external cybersecurity experts to hunt down security vulnerabilities and run periodic internal audits. The requirements for documents for KYC and account tiers can be noted here.
Corporate accounts can include 20 or more designated individuals). This verification level requires a bank statement, utility bill, and a photocopy of government issued ID in addition to information required for Level 1 KYC. For example, if the user buys BTC/USD, the rebate is paid in USD.
OKCoin.cn Markets’ Analysis
Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Okcoin. If an active trader wishes to trade other instruments beyond crypto and prefers not to KYC, he or she may prefer other exchanges such as OKX, but if he or she prefers a much larger selection of crypto only instruments and does not mind KYC, Kraken wins. Users can also enjoy market maker rebates as well as high volume trading incentives with lower fees. They also use a microservices architecture to authenticate and authorize every access request that is made to a userโs account.
Currently, official OKCoin.cn X account doesn’t exist or wasn’t submitted. ๐
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.
OKCoin.cn Exchange data is untracked
- The exchange uses sufficient security protocols and is trustworthy.
- FTX is known for catering to active derivatives traders and optimizing for high order volume and trading execution speed.
- These are the project’s quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
- For example, if the user buys BTC/USD, the rebate is paid in USD.
Coinbase also offers much more of a selection of trading pairs compared to that offered at Okcoin, with 440 trading pairs, compared to 64 coins at Okcoin, as well as advanced charting, accessible order books, and advanced order types. Coinbase is best designed for buy-and-hold investors or casual to intermediate cryptocurrency usersโCoinbase offers 402 pairs vs. Okcoinโs 64 coins and neither offer margin or futures for US users. Binance wins in the fee department easily due to its incentives and reductions. Okcoin also offers some reductions but its reductions are not as aggressive as those by Binance. Binance is the leading global crypto established exchange by trading volume, offering a much larger selection of cryptocurrencies than Okcoinโover 351 coins and over 1300 pairs. Advanced users who desire both competitive fees and a greater selection of trading products than what either Okcoin or Coinbase offer may find the choices below equally valuable.
Okcoin vs Coinbase
Okcoin offers a product called Earn for users to earn crypto rewards with DeFi and staking. There are options available at this time for users to earn up to 265% APY on select coins, with a range of fixed and flexible terms. Okcoin also offers mobile apps for users to be able to trade on the go for both Android and iOS. There is also an affiliate program for users to receive up to 30% of their trading fees refunded. As far as the exchange and trading interface itself, advanced charting is integrated with TradingView and order books and advanced order types are present for more advanced traders to use. The best parts of Okcoin are its overall comprehensive exchange services for traders and investors that put it in the top 10 exchanges by volume around the world.
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 okcoin review similarity is in Geminiโs presence of crypto financial services offerings, which are also similar to Okcoinโs Earn product. In addition, the exchangeโs 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.
However, we encourage you to consult with a qualified financial advisor before making any investment decisions 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.
There is fiat support for USD, EUR, and SGD pairs, as well as crypto-to-crypto pairs. It is a quantitative metric in percentage describing how many cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours on this specific crypto exchange, compared to the previous 24 hours. 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, and is valued in Bitcoin.