THELOGICALINDIAN - Founded in 2024 OKCoin is one of the aboriginal cryptocurrency exchanges but how does it admeasurement up in 2024
OKCoin is a all-around barter and one of the better fiat-to-crypto platforms in the world. It’s been about for abounding years now, accepting aboriginal opened the doors in 2013. But does that beggarly it’s stood the analysis of time? Our barter analysis of OKCoin takes a attending at how the barter is accomplishing in 2020.
OKCoin in Brief
Not abounding exchanges can affirmation to accept been about as continued as OKCoin. At seven years old, it’s been about best than abounding of its newer competitors. This agency it’s had affluence of time to abound and authorize its user abject and acceptability aural the crypto community.
Based in San Francisco and led by CEO Hong Fang, OKCoin was founded in 2013. Since its inception, the aggregation has developed decidedly to serve over 180 countries from six all-around offices.
Signing Up
Signing up to OKCoin was actual easy, and this user was able to get active up aural alone a few annual application the browser on a smartphone. After signing up and commutual the aboriginal annular of KYC checks by accouterment an ID, the annual looked all set to go.
The allotment folio (and the OKCoin abutment page) both announce that added checks are alone appropriate to access trading limits.
However, OKCoin emailed to say that our new annual was arctic until they accustomed affidavit of address. Apparently, this is a claim for barter in the European Union. Nevertheless, behindhand of your location, it’s account acquainted that the abounding KYC action may booty a day or two to complete.
On the cast side, this slight adjournment does accommodate a advance that OKCoin is austere about its obligation to act in accordance with authoritative requirements.
Once you’ve been through the KYC, you’ll additionally accept to set up an email abode and buzz cardinal to be apprenticed to your OKCoin account. This will be acclimated as a agency of multi-factor affidavit back you appetite to accomplish changes. For deposits and withdrawals, you’ll additionally accept to set up a abstracted password.
OKCoin Markets
OKCoin is actual durably a fiat-to-crypto platform, and as such, it offers an all-encompassing ambit of USD trading pairs with a dozen cryptocurrencies, including best of the above altcoins. In the EU, some euro trading pairs are additionally available.
If you’re attractive for an arrangement of crypto-to-crypto pairings, again OKCoin apparently isn’t the barter for you. However, if you’re attractive to buy any above altcoins application authorization bill after accepting to hop amid altered platforms, again OKCoin has an ideal ambit of pairings.
A Look at Exchange Fees
According to research by Crypto Briefing, fees on OKCoin can be some of the best aggressive on the market, decidedly for those accouterment clamminess or trading at college volumes.
Within the retail tier, OKCoin is one of the best aggressive U.S. exchanges by trading fees. For aerial rollers, OKCoin is amid the best aggressive exchanges on maker and bacteria fees, baronial #3 and #1 for those who barter up to $10 actor or $100 actor per month, respectively.
The abounding maker and bacteria fee agenda is apparent below.
Exchange Liquidity
CoinMarketCap’s clamminess metric puts OKCoin at 34th, while FTX places OKCoin at 28th.
OKCoin achieves this abyss of clamminess by alms traders admission to all-around clamminess pools through all 180 countries area the aggregation is accountant and has permission to operate. This includes markets beyond Asia, Europe, and the Americas.
The aggregation additionally operates a actual fast adjustment analogous agent and has developed a able-bodied adjustment for accent testing the barter to abstain downtime.
User Interface
User acquaintance tends to be one of the afraid credibility for cryptocurrency barter users, decidedly those who’ve appear to cryptocurrency from added markets. Perhaps due to its longevity, OKCoin has had time to clarify its user interface in acknowledgment to chump demands. This focus can be apparent in OKCoin’s apple-pie and automatic user interface.
As you can see below, the awning doesn’t ache from accidental clutter, alone announcement what you charge to see to abode an order, analysis the amount chart, and appearance the adjustment book.
Additionally, OKCoin caters to avant-garde and pro traders with a full-screen appearance assuming the aforementioned banker screens but in added diminutive detail.
Deposit Security
Security is an area in which OKCoin excels. Since 2013, the barter has never been hacked, which speaks to how actively the aggregation takes its aegis obligations.
The aggregation uses AES-encryption to defended its clandestine keys, according to blueprint laid bottomward by the U.S. National Institute for Standards and Technology. All encrypted keys are stored in a coffer vault, which requires admission allotment from two aggregation representatives. It uses real-time ecology of all deposits and withdrawals to analyze apprehensive activities, and the majority of chump assets are kept in algid storage.
User accounts are adequate with assorted aegis measures advised to accumulate funds safe. These accommodate a abstracted countersign for withdrawals, multi-factor affidavit application SMS, email, and Google Authenticator, IP whitelisting, and an anti-phishing cipher to acquiesce the user to analyze that emails are absolutely from OKCoin.
Customer Service
Customer account is addition breadth that OKCoin takes actively compared to abounding of its competitors. Users can admission 24/7 alive abutment agents via email, alive chat, or telephone. It additionally has an all-encompassing FAQ area on its website.
Should You Use OKCoin?
OKCoin is a reliable, robust, and convenient way to get on lath with cryptocurrency from fiat.
While it may not address to traders attractive for leveraged derivatives or a ambit of crypto-to-crypto pairs, it has accustomed itself able-bodied in the fiat-to-crypto alcove and offers affluence of opportunities for pro and avant-garde traders who appetite to barter the atom markets adjoin authorization pairings. Its solid acceptability for aegis and acquiescence additionally plays able-bodied to the preferences of institutional traders.
It may be one of the longstanding players in the cryptocurrency barter market, but this is one barter that sticks to its strengths rather than aggravating to baby to all needs. For this reason, there’s still affluence of constancy in OKCoin.
