Forex Trading

OKCoin com Review 2021 Scam or Not?

okcoin review

Withdrawals of funds from OKCoin can be made the same way as deposits, through bank and wire transfers for fiat money, and through cryptocurrency transfers between digital wallets. Hi Geoffrey, thank you for taking the time to reach out. It sounds like your account was flagged by our security protocols for our risk team to review. Please check the email address you used to sign up for a message from the team with instructions on how to regain access to your account.

  • The trade would then be executed at the agreed-upon price.
  • Okcoin charges a spread for purchasing cryptocurrency, which is the difference between the buy price and the sell price.
  • These VIP levels decrease the trading fees amount and decide the limits of borrowing and trading leverage.
  • For users in Europe, SEPA has a small fee of €0.20 +0.3% to deposit Euros which is fairly reasonable.
  • I couldn’t stay doing nothing so i reported to my husband’s sister working at the sec, they confirmed Okcoin is unregulated.
  • Okcoin makes it easy to make your crypto work for you with staking and DeFi.

In Trailing stop orders, as the order turns more profitable, the stop price also modifies. Trail orders help protect the capital when they change due to the change in the profits. Another order for selling and buying cryptocurrency immediately at the current market prices is the market order. Select the crypto type you want to withdraw from the Withdrawal page, e.g., ETH, BTC. Transfer your crypto to the internal wallets of Okcoin or send the currency externally to a wallet or address of your choice.

How safe is OKCoin?

We’re always working on the website’s UX and should have some improvements coming soon. As for the SMS verification text not coming through, there could be a couple of reasons why. Your cell phone provider may have set up a block of incoming text messages coming from unknown numbers that look like they could be spam. You can give them a call and they should be able to remove the block for you. If that doesn’t seem to be the problem, please don’t hesitate to reach out to us on Twitter @okcoin via direct message and we’d be happy to take a closer look. We’re a bit confused by the wording of your review and would like to get some more information from you so we can work on finding a solution.

okcoin review

They’ve got headquarters in San Francisco, California. I wish Okcoin would explain why a picture of my personal wallet is required for verification. This request has actually nothing to do with verifying someone, so why ask for this? I would love to hear just one good reason for this without having receive a standard answer. No other exchange has ever asked me for a picture of my wallet.

Okcoin is a scam please don’t use it

Please send us a direct message on Twitter @okcoinhelpdesk and we can give you an expedited response via our escalations team. The advantage that Okcoin has over its competitors is that it offers a DeFi staking platform called Okcoin Earn, as we talked about earlier. Okcoin is also relatively simple to use and has a great user interface. Simply create an account, deposit funds, and then you can start trading cryptocurrencies.

That’s why it comes under the top cryptocurrency exchange list. However, it is important to note that a particular exchange has a specific trading view. Hence, investors can determine their most suitable trading view based on their requirements. Okcoin offers a worthwhile crypto exchange experience. Active traders can handle all of their trading needs in a low-fee, secure environment.

Worst platform for crypto

We strive to provide up-to-date information, but make no warranties regarding the accuracy of our information. Ultimately, you are responsible for your financial decisions. FinanceBuzz is not a financial institution and does not provide credit cards or any other financial products. With Okcoin, you could also earn more tokens through staking, in what amounts to up to 17% APY (as of Aug. 24, 2021).

Additionally, there are VIP levels achieved by gathering reward points after completing KYC details and trading. These VIP levels decrease the trading fees amount and decide the limits of borrowing and trading leverage. Withdrawals in US dollars are also possible via Bank or Wire Transfer with 0.1 percent fee and a minimum of 15 US dollars.

How to open an Okcoin account

The rating results published on Cointelligence are based on an independent rating system developed by the Cointelligence team. They do not reflect any official governmental approval or regulatory compliance. Receive the latest news about our cryptocurrency education courses, events, and guides. With this much variety, you can choose which DeFi protocol and coin you want to stake based on your risk tolerance and goals. Sharing is caring, so make sure to share Okcoin with your crypto-loving friends so you can start earning referral bonuses.

I first discovered Okcoin due to their early support and advocacy for Stacks. It’s still the primary way I purchase STX these days. I like that they took those risks and did other BTC positive moves like supporting lightning. The only thing that has made my experience less than stellar is the lack of other coins within the stacks ecosystem being available (xBTC, USDA, DIKO and ALEX for example).

Pros and cons of Okcoin

I do use them to purchase UST and it has gone smoothly, but I don’t like that they hold your money or tokens for 10 days before you can withdraw them. Also, I think their UST price is a little high compared to other exchanges. In short, they are an average exchange and I use them because they do have native Terra. Kraken is another cryptocurrency exchange aimed at traders. However, Kraken has a wider variety of cryptocurrency pairs and tokens available, and more funding options than Okcoin.

okcoin review

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