OKCoin exchange is the world’s largest bitcoin exchange by volume. It has over 16 million of bitcoins transactions per month. OKCoin exchange now allows users in Singapore and Brunei to trade the Singapore dollar against Bitcoin and Ether. But it has come under increasing pressure from regulators. Are you eager to know more about OKCoin and its history? Then read this article completely.
An Overview Of OKCoin Exchange
As said above, OKCoin is the largest Bitcoin exchange in the world. But due to certain regulatory issues, this exchange is not accessible in nine countries. Those nine countries are North Korea, Syria, Iran, Sudan, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and the USA. even though, as like any other cryptocurrency exchanges, OKCoin is not regulated by any reputable financial regulatory authorities and the exchange has built up a viable reputation among its users and the cryptocurrency community.
It uses the latest security and encryption protocols for the protection of the user’s information. Thus it has proven itself as a trustworthy bitcoin exchange. For a higher level of security, it integrates bank-level SSL security encryption, cold storage for the majority of their cryptocurrency, GSLB, and distributed servers, and real-time account monitoring of deposits and withdrawals.
History Of OKCoin Exchange
OKCoin exchange was founded by Star Xu in 2013 in Beijing, China. Star Xu is now the CEO of the OKCoin exchange. He has experience in technology management, including stints at Yahoo and Alibaba, in which he worked on developing search algorithms. He also worked as a Chief Technical Officer at DocIn.com, a file-sharing service. In its initial stages, OKCoin exchange primarily services users from China and the Asian markets but accepts traders from all over the world.
Advantages of OKCoin Exchange
- High liquidity
- Trading fee is very low
- Highly competitive
- Highly secure
- Uses advanced encryption technology
- Can deposit both fiat currencies and cryptocurrencies
- Not regulated by any financial regulatory agency
- accepts cryptocurrency deposits as well as USD and CNY deposits made via bank and wire transfers
- Easy to set up an account
- utilizes their very own proprietary web-based trading platform
- Offers 2-3x leverage
- Excellent customer support
The trading platform featured by the OKCoin exchange is highly advanced and stable for trading bitcoin and other cryptocurrencies. It can be used by both professional traders and beginners as well. It also features downloadable mobile applications for both Apple and Android mobile devices.
It offers a variety of trading options like margin trading, futures, places Iceberg orders, trailing stop orders, and TWAPs. The cryptocurrencies that can be traded through OKCoin exchange are Bitcoin, Litecoin, Ethereum, Ethereum Classic, and Bitcoin Cash, and they can all be traded against both USD and CNY. all the trading tools are available with features that can be used to technically analyze the market.