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

FTX is known for its extensive futures pairs and top-class matching and liquidation engine for advanced derivatives traders, and traders can use third party bots at FTX as well, while Okcoin does offer charting as well at a high level. Coinbase has a wider range of services suited for both new users and advanced users with Coinbase Pro, while Okcoin focuses more on a smaller range of spot only products and institutional offerings that are done well. The user’s trading fees are determined by trailing 30-day volume which is recalculated every day at midnight UTC+8. All volume is converted to USD using the exchange rate of the digital asset at the time of the transaction. It is a US-based cryptocurrency exchange that launched in 2013 that serves over 100K registered investors in 190+ countries.

• Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to 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.
• FTX cannot be used by US persons however Okcoin can, and both require KYC.
• 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.
• BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses.
• From making your first crypto trade to becoming a seasoned trader, you’ll have us to guide you through the process.

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• Switch to our Europe site for products available in your region.
• Our platform is dedicated to providing you with up-to-date educational resources, expert opinions, and a wealth of information to guide you in understanding the complex landscape of finance.
• US users will prefer Kraken for its regulatory compliance and strong track record if they are traders especially.

Lastly, Okcoin also runs a grants program for supporting developers, especially those working on bitcoin core development. There is also an exclusive trading program called Okcoin Premier for professional traders and business partners. Premier members receive access to dedicated coverage, accelerated fiat processing, and a range of other exclusive product features.

FTX cannot be used by US persons however Okcoin can, and both require KYC. Coinbase is better for many core aspects of crypto trading and products offered if compared to Okcoin, even if only for its much more expanded coin offerings. All users of Okcoin are required to undergo KYC verification procedures as per its KYC/AML terms. Users who perform successful Level 2 KYC can enjoy increased transaction limits which are not publicly noted. All users have to complete at the minimum Level 1 KYC to obtain access to funding the exchange wallet. Trading fees are incurred when an order is filled by the exchange’s matching engine or P2P service.

What are the Deposit and Withdrawal Methods and Fees for Okcoin?

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.

Okcoin vs Coinbase

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.

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.

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.

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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.

Users should still note that crypto transactions on average can take from 30 minutes to several hours for a transaction to be confirmed due to the blockchain. Once on the blockchain, the transaction needs a number of network confirmations before it’s completed. Kraken is accessible in 48 US states with KYC and is regulated and licensed by FinCEN in the USA, while worldwide users can use Okcoin with KYC, as well as US users. Lastly, Okcoin does require various levels of KYC requirements to be completed to use the exchange for all jurisdictions as per its KYC/AML policy, so this may be a con for those looking for a KYC-free service or exchange. Founder Xu had a background in technology management and previous experience at Yahoo and Alibaba with the development of search algorithms. Since its start, Okcoin has developed into one of the largest and fastest growing exchanges in the world.

Okcoin Exchange Review (Crypto Exchange Review + Fees + Coin List)

This means that all user sessions are secure and validated with complete identity protection. Accounts also use multi-factor authentication okcoin review so users are prompted for deposit, withdrawal, and trade orders. They’re used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project’s website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic – is a metric of how many monthly users visit the project’s website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.

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.

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.