In this post, we will discuss what Okcoin is, how it works, and whether or not it is right for you. We will also cover the promotions currently being offered by Okcoin.
What is Okcoin?
Okcoin is one of the most popular crypto exchanges in the world, and was founded in 2013. They’ve got headquarters in San Francisco, California.
You can buy, sell, and trade all sorts of crypto including Bitcoin, Ethereum, and more, either on your desktop or through their mobile apps (available for both iOS and Android).
You can also stake your crypto using this platform, which is not something that all crypto exchanges allow you to do.
Okcoin is a great option for those who are looking for a reliable and user-friendly digital asset exchange. The platform is suitable for both experienced and inexperienced investors.
If you are new to the world of cryptocurrency, Okcoin provides a great user interface that is easy to navigate. The platform also offers a variety of resources and tutorials that can help you get started with trading.
On the other hand, if you are an experienced investor, Okcoin offers a wide range of features that will allow you to take your trading to the next level. These features include advanced charting tools, margin trading, and a variety of order types.
OTC (over-the-counter) trading is also available on the Okcoin platform. This feature allows users to trade large amounts of cryptocurrency without having to go through the public order book. This means that you can avoid slippage and get the best price possible for your trade.
Okcoin also offers a mobile app that is available for both Android and iOS devices. The app allows you to access all of the features of the Okcoin platform on the go. If you are someone that prefers to use a mobile device rather than a desktop, the Okcoin app is a great option.
Basically, anyone who is looking for user-friendly digital asset exchange can benefit from this highly popular app. By offering a variety of features and resources, Okcoin is a great option for both beginners and experienced investors alike.
The Okcoin platform is very easy to use. Simply create an account, deposit funds, and then you can start trading cryptocurrencies.
Okcoin works by matching buyers and sellers of digital assets in real-time. When you place an order on the platform, it is matched with another user who wants to trade in the opposite direction.
For example, let’s say that you want to buy Bitcoin. You would place an order on the Okcoin platform and someone who wants to sell Bitcoin would match your order. The trade would then be executed at the agreed-upon price.
The way an exchange like Okcoin works is similar to how a stock exchange works. Buyers and sellers come together to trade assets in real-time. The difference is that Okcoin allows you to trade digital assets instead of stocks.
Okcoin charges a spread for purchasing cryptocurrency, which is the difference between the buy price and the sell price. This spread varies between 1% and 1.5%.
If you are a more frequent trader, there are also other exchange fees that you should understand.
The maker fee is 0.10% while the taker fee is 0.20%. The taker fee is charged when you place an order that is immediately matched with another order. The maker fee is charged when your order is placed on the order book and then matched with another order.
If you trade more often, then the costs could be lowered for you by Okcoin. But you’d have to trade more than $100,000 USD to qualify for such discounts on your trading fees.
Does Okcoin have withdrawal fees?
Withdrawal fees may apply. Each region will have its own set of deposit and withdrawal fees. This guide can help you understand the fees associated with your account.
Okcoin Earn is a great way to earn interest on your digital assets. Simply deposit your cryptocurrencies into your Okcoin account and you will start earning interest!
This is done through a process called DeFi Staking, which essentially allows you to lend your crypto to others in exchange for interest payments. Simply put, DeFi or Decentralized Finance is the new way of earning interest on your assets without having to go through a bank.
Okcoin Earn is one of the highest paying DeFi platforms with up to a 10% fixed interest on the most popular cryptocurrency, Bitcoin. By earning interest on your digital assets, you can grow your portfolio through compounding. This means that your interest payments will be added to your account balance, and you will then earn interest on the new balance.
The great thing about Okcoin Earn is that it is completely passive. Once you deposit your cryptocurrencies, you will start earning interest without having to do anything else.
Free $20 worth of Bitcoin
If you are a new user and you buy $100 worth of crypto, you’ll receive $20 worth of Bitcoin as a reward. In order to qualify for this bonus reward, you must make the crypto purchases any time before August 2022.
Unfortunately, stablecoins are excluded from this offer. These include:
Also, keep in mind that if you are located in any of the following countries, you don’t qualify for this bonus:
- Sri Lanka
Recurring Buys Promotion
This one is available for both new and current users of Okcoin. When you participate in using the Recurring Buy feature, you’ll automatically qualify for zero transaction fees.
You may cancel the Recurring Buy feature at any point. There is no minimum amount of time required in order to qualify for the zero transaction fees.
Note that your first purchase will incur transaction fees, as that is not considered part of the recurring buy, but any purchase following that using the recurring buy feature will not be charged any transaction fees.
How to stay up to date with promotions
You can also find past promotions and compare them to see if the current promotion is worth it.
If you refer your friends or family to Okcoin, you will both receive 30% of their trading and commission fees. You can get paid out directly to your bank.
Sharing is caring, so make sure to share Okcoin with your crypto-loving friends so you can start earning referral bonuses.
Can you combine Okcoin promotions with the referral bonus?
Unfortunately, the above promotions cannot be used in conjunction with Okcoin’s referral bonus.
As we briefly mentioned earlier, Okcoin offers a DeFi staking platform called Okcoin Earn. On this platform, you can deposit your digital assets and earn anywhere from 0.05% to even 265% interest per year. It depends on which crypto coin and DeFi protocol you decide to stake on.
The amazing thing about Okcoin is that it offers a variety of coins that you can stake including:
- And much more!
With this much variety, you can choose which DeFi protocol and coin you want to stake based on your risk tolerance and goals.
Yes, Okcoin is a legitimate digital asset exchange that is compliant with all applicable laws and regulations, including US laws and regulations that govern crypto exchanges.
It is a legit way to trade digital assets and earn interest on your investment.
They are a licensed ‘money transmitter’ which means they are held to high standards of operation. Their security analysis on their website outlines all the regulations they adhere to. By knowing that Okcoin is a legitimate platform, you can feel confident when trading on their exchange.
Okcoin Reviews (By Real Users)
Okcoin has great ratings from both iPhone and Android users. On the Apple App Store, it’s garnered an average rating of 4.8/5 stars with over 3,500 reviews. On the Google Play app store, it has an average rating of 4.1/5 stars with over 5,000 reviews.
Let’s take a look at some user reviews below:
“Okcoin is better than others for primarily two reasons: They list coins earlier than most exchanges, and they offer in-app staking for a lot of coins. I realize lots of crypto users prefer moving funds to a non-custodial wallet and staking directly, but I’ve checked many of the rates around for staking and their rates are fair. If Okcoin adds a non-custodial wallet feature, that would make everything perfect.”
“The new update is not as good as the previous for two reasons: The portfolio tab doesn’t show the actual amount of tokens currently not in Earn, just the percentage, and the prices tab no longer updates unless you click on the token itself.”
“Underrated mobile wallet. The users who complain about how it’s hard to use or withdraw money should not really be investing in crypto in the first place. My only complaint is that the selection of coins and tokens is great for the bigger coins, but I wouldn’t have to use Kucoin if Okcoin had a better selection of the smaller cryptos to get into.”
“The old app was quite terrible, but the most recent update makes it my favorite crypto app. Coinbase has gone straight downhill, so that’s why I use Okcoin now. Okcoin used to be pretty bad, but not Coinbase bad, and now the Okcoin app is phenomenal. Way to go, devs!”
“First time I’ve reviewed an app and I can say that after using multiple crypto apps, Okcoin is amazing, and I love it. Very well-designed and user friendly.”
The following are all legitimate alternatives to Okcoin:
Each exchange has its own unique features and benefits, so be sure to do your research before choosing one!
The advantage that Okcoin has over its competitors is that it offers a DeFi staking platform called Okcoin Earn, as we talked about earlier. Some exchanges don’t offer this. Okcoin is also relatively simple to use and has a great user interface.
Many mobile platforms often lack the features that desktop platforms have, but Okcoin has made it a priority to bridge this gap. Their mobile app is just as good as their desktop platform, if not better. With a quick download, you can start trading right from your mobile device.
Okcoin is a legitimate cryptocurrency exchange that allows you to buy, sell, or trade a variety of digital assets. The platform is very user-friendly and offers a great way to grow your portfolio.
It has a great referral program, and whether you are a passive investor looking for yield, a newbie crypto investor, or an advanced crypto trader, Okcoin has something for everyone.
If you have any questions or would like to learn more about Okcoin, be sure to check out their website and/or social media accounts. You can also contact their customer support team via email@example.com.
Alternatively, if you have questions for us about Okcoin, feel free to contact us. And if you’ve used Okcoin before, let us know what you think about it. We’d love to hear from you!
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