OKCoin is one of the world's largest platforms for exchanging fiat for cryptocurrency. Founded in 2013, OKCoin offers advanced features for both novice crypto traders and professionals, allowing users in 184 countries to exchange US dollars and euros for Bitcoin, Tethers, USDK, Bitcoin Cash, Ethereum, Ethereum Classic, Decred, EOS, Litecoin, XRP, Cardano, 0x, Stellar, Zcash, TRX and other digital assets.
OKoin exchange has a highly experienced team behind. The most recent addition to the group is Hong Fang, who was announced as the Chairman of OKCoin and the Chief Operating Office of OK Group on September 24, 2019.
As a registered cryptocurrency exchange for the provision of trading financial services (MSB) by the Financial Crimes Enforcement Network (FinCEN) and the Virtual Financial Assets Act (VFAA), with the permission of the Malta Financial Services Authority, OKCoin claims to fulfill the mission of creating a digital asset free trade area accessible worldwide, while meeting the highest regulatory standards.
In 2013, the exchange received millions of dollars in angel investments from VenturesLab, co-founded by the world-famous Tim Draper, who has invested in leading companies such as Hotmail, Baidu and Tesla.
Also, in early 2014, the exchange received an investment of $ 10 million from the well-known Chinese venture capital fund Ceyuan and Longling Capital
Currently, there are more than 30 different trading pairs available on OKCoin in 192 countries. The OKCoin trading interface makes it easy to make various trades for a variety of trading pairs. The dashboard allows traders to quickly find their preferred cryptocurrency, sort by recent price actions, and quickly view order book actions.
There are also full-screen charts and margin trading for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for more professional traders. Users can trade BTC and ETH with a 10x margin. Only 5x margin trading is available for LTC and BCH.
The platform is available as a mobile app. OKCoin is available for download in both the App Store and Google Play. It is also available as a download client for both macOS and Windows.
The fee for trading is proportional to the amount of cryptocurrency that the user trades. The higher the volume of the trader's actions on the exchange, the lower the fee. There are ten levels of fees. The most expensive-0.20% fee for the maker, and 0.10% - applies to traders trading less than $100,000.
After $10 million of trading volume (level 5) , all fees are removed from the maker. The taker's fee from level 5 to level 10 starts at 0.10%, up to 0.02%.
OKCoin states that they use industry-leading security practices. The exchange implements technologies such as GSLB, distributed server clusters, distributed storage, and a high-speed memory-based trading engine, backed up on multiple machines, in cold storage, and hot wallets with offline private keys. All of the above, of course, is implemented to ensure maximum security.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.