eCurrencyReview.com

OKCoin Bitcoin Exchange Review

OKCoin Bitcoin Exchange Review

Author
  • Reliability
  • Security
  • Transparency
  • Exchange Fees
  • Customer Support

OKCoin is an electronic payment system or Bitcoin company which lends the app for the consumer payment through mobile and Bitcoin exchange. The company is located in China and founded by Star Xu, CEO of the company in the year 2013.

According to the reports of August 2016, OKCoin has become the top most companies in the world in the field of Bitcoin exchange. Blockchain technology is used by the company in order to make the electronic payment system more enhanced and reliable.

About $100mm amount was invested in the company initially and the company is still implementing innovative ideas. OKCoin is responsible for implementing an optimistic change in the electronic payment system.

Services offered and Features

  • The limit of the account is quite high as deposits and withdrawals can be made on a daily basis without any interruption.
  • The advance deposit can be made easily and immediate top-up is the reason of an increase in the capital efficiency.
  • Remote access to the database makes the working of the company easy and reliable.
  • Sub-account trading is one of the biggest advantages offered by the company as the customers can manage their strategies upto 10 sub-accounts.
  • All the personal details of the customer asked during the payment process kept secure with the advanced security technology used by the company.
  • Professional account managers are always there to guide you through the process in case you are not aware of it.
  • Distributed servers of global data center and matching engine are on high speed which makes the system reliable for the customers.
  • Online and technical support is available 24/7.

Security

The security of the OKCoin Company is based on the private key encryption algorithm. According to the cryptography experts, the implementation of this algorithm in the Bitcoin exchange is the best way to keep the process of electronic payment safe and secure.

The security design philosophy of the company states that all the important data must be kept in the highest security bank safe and the involvement of the person should be less.

Trading Platforms

OKCoin works for the Android phones, IOS phones, windows, and MAC. Three different apps are available for the different trading platforms:

  • OKCoin CNY app (v 2.1.3): The app is available for the Android and IOS phones.
  • OKCoin Client (v 2.4.4): The app is available for the Windows.
  • OKCoin Client (v 1.1.1): The app is available for the MAC.

Transaction fees and charges

  • Trading fees
30-day volume

(BTC)

Trading fees

(%)

0 0.20
50 0.18
200 0.16
600 0.14
1500 0.12
5000 0.10

 

  • Withdrawal and Deposit fees
USD Deposit USD Withdrawal
Bank Transfer

Corporate: 0.1%

Individual: 0.1%

Bank Transfer

0.1%

Minimum fee: $15

Pros

  • The system makes the transaction of the money easy and quick.
  • The Bitcoin exchange of the company is quite safe and reliable.
  • 24/7 support for the customers is available.
  • Deposits and Withdrawals can be made in a high amount on the daily basis.

Cons 

  • The security system of the company still needs improvement.
  • Operating stable Bitcoin trading platform is still an issue.

Summary

OKCoin has all the necessary features that are required by the normal users to deal with digital currency transactions. However, it still demands some improvements in some of its services. Overall, it is wonderful to use this electronic payment system.

Leave a Comment

Your email address will not be published. Required fields are marked *

Choose a Rating