There are over 75 cryptocurrencies available on Okcoin, giving it one of the larger selections, even compared to the top cryptocurrency apps. In addition to crypto trading, Okcoin also lets you earn interest on your crypto holdings okoin by staking or lending them. Okcoin is especially well known as one of the best places to buy Bitcoin. The exchange is also the first in the United States to let you purchase Bitcoin in satoshis, the smallest Bitcoin unit.
This is a strong competitive edge in the market and distinguishes OKCoin from most other top crypto exchanges. On the date of last updating this review (2 January 2020), OKCoin’s 24 hour trading volume was USD 1.7 million. This placed OKCoin on place no. 124 on the list of the exchanges in the world with the highest 24 hour trading volumes. Also, if your credit or debit card supports EUR, GBP, CAD, AUD, BRL, SGD, or HKD, you will be able to purchase crypto in your local currency and reduce foreign exchange fees.
- The exchange also offers a discount to makers, who trade at a fee of 0.10%.
- An obvious solution to many problems in the industry is the development of a decentralized platform for distributing content and an anonymous payment system between the supplier and the consumer.
- Okcoin was targeted because it was found to be operating without having appropriate Know Your Client (KYC) and anti-money laundering (AML) systems in place.
- There is a host of digital currency-adjacent products and services that have become increasingly important as more investors are turning to cryptocurrencies as viable investments.
The exchange then also stated that Ms. Fang, in her capacity as one of OKCoin’s early investors, was the perfect candidate to drive the global expansion of OKCoin while also overseeing operations at OK Group. He has a background in technology management, including stints at Alibaba and Yahoo, where he worked on developing search algorithms. He was also the CTO of DocIn.com, China’s largest document-sharing service. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Set recurring buys and automatically add a little crypto at a time to control your average price, fee-free. Make money while you sleep with Okcoin Earn.Our app makes it easy for anyone to be part of DeFi.
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The exchange offers what it calls trading accounts and funding accounts. This is a way of separating funds you want to use for active trading and funds you want to store. Money and cryptocurrency you want to trade must be in your funding account, whereas withdrawals can only be made from your funding account. You can move funds between these accounts at any time instantly and free of charge. You can buy, sell, and trade over 75 cryptocurrencies on Okcoin. That’s a strong lineup, and it gives you plenty of different projects to invest in, from the biggest cryptos on the market to those that are still working their way up the list.
This advertisement contains information and materials provided by Robinhood Financial LLC, Robinhood Securities LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC, a member of FINRA and SIPC and a wholly-owned subsidiary of Robinhood Markets, Inc. Robinhood Crypto and Publisher are not a members of FINRA or SIPC and cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC insurance. Okcoin continues to operate its cryptocurrency exchange for non-Chinese customers. It was widely speculated that a number of Chinese investors in the cryptocurrency space would turn toward overseas exchanges for their business.
The market also suffered setbacks after federal authorities shut down trading after Black Wednesday in May 2021, which saw one of the largest sell-offs in the market. The government cited the rise in speculative trading related to virtual currencies as its rationale for the ban. The cryptocurrency market gained prominence following the 2009 launch of Bitcoin, one of the world’s most popular and widely traded digital currencies. But unlike centralized exchanges, such as stock exchanges, cryptocurrencies trade on crypto-specific exchanges. Trading can often be difficult to navigate, especially for new traders. The project’s founders have laid the ideal foundation for the future success of the platform — a team of IT engineers of the independent company VR technology company (Czech Republic).
You can earn rewards on more than 10 of the cryptocurrencies that Okcoin offers just by depositing them to a staking/lending pool. Several offer an APY of over 5%, and there are a few offering over 10%. Crypto staking and lending are popular ways to earn rewards on your crypto holdings.
How Okcoin works
You’ll keep extra costs to a minimum when you invest in crypto with Okcoin, and over time, that makes a difference. In developing the project, we place an emphasis on partnerships with market leaders. They have the greatest advantage in the form of having a massive user base. Now we need to bring innovative technologies to that user base. The fact that the OKO platform is doing this faster than other competitors will eventually allow it to take its place as an undisputed leader. The strategy that we are sticking to with our partners is to put on the pressure, and to shift from archaic technologies and formats to VR and blockchain technologies.
Where Is Okcoin Located?
In other words, OKO Pay will be implemented on partner websites and launched in a test run mode upon its official presentation, so that any user will be able to buy goods and services for OKOIN 100% anonymously. It significantly establishes token positions on the exchange and promotes its price increase. On the date of last updating this review (2 December 2021) the 24-hour trading volume was more than USD 58.7 million, according to Coinmarketcap. This means that this exchange has grown sizeable in the past 20 months, as the 24-hour trading volume was USD 4.45 million on 5 March 2020. USD 58.7 million is, however, still not a very impressive 24 hour trading volume if you compare it to its global competition. Customers in 192 countries can access the services of the trading platform.
The main aim of crowd investment in OKOIN:
You can find most of the biggest coins here, from market leader Bitcoin to the popular altcoins. It also offers cryptocurrencies a lot of U.S. exchanges don’t, like Tron (TRX). After you’ve registered and verified your identity, you can fund your account with an ACH transfer, wire transfer, or a debit card payment. On the price pages for each https://cryptolisting.org/ of its cryptocurrencies, it includes a paragraph describing that cryptocurrency and provides links to that cryptocurrency’s official website, white paper, and Twitter account. The best part about Okcoin is its fees, which are some of the cheapest we’ve found. Trading fees depend on your monthly trading volume, but the most you’ll pay is 0.2%.
The same account that I had used to transfer money into okcoin. Thinking that since I was verified level two there shouldn’t be a problem. But when I tried to withdraw I found out that they hadn’t reviewed the additional information and I couldn’t until they had. They had received my additional information which was bank statements and utility bills several months ago. Now if this wasn’t enough because you would think that they would get right on it and take care of the problem.
The project team consists of VR technology developers and has been designing, creating and perfecting the VR OKO headset for two years. For the creation and quality control of a full production cycle of interactive films for adults, VR technology signed a contract with leading European production studios, artists, screenwriters and directors. The ‘adult’ industry began to pay attention to the opportunities that blockchain technologies offer several years ago.
