Okcoin Review: Pros, Cons & More
The area where Okcoin stands out the most is its fees, which are among the cheapest we have found. Trading fees depend on your monthly trading volume, but the maximum you will pay is 0.2%.
For comparison, many popular crypto exchanges have fees starting at 0.5%, and some even charge 1% to 1.5%. You will save quite a bit on fees when you invest in crypto with Okcoin, and over time it makes a difference.
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Okcoin has a fantastic design and layout. Everything is clearly labeled and easy to understand, which is helpful if you’re new to crypto. The exchange explains how to create an account and start buying cryptocurrency directly from its homepage.
It also has a detailed help center and categorizes different types of cryptocurrency on its trading platform. If you want to check out the top crypto, decentralized finance (DeFi) or stablecoin projects, you can quickly jump to those.
Trading platforms for beginners and advanced
This exchange offers two different trading interfaces. The default platform is simple and perfect for beginners who want to buy and sell crypto without getting overwhelmed. The advanced platform gives you more charting tools, which are useful for more experienced traders.
Wide choice of cryptocurrencies
You can buy, sell and trade more than 60 cryptocurrencies on Okcoin. It’s a solid range, and it gives you many different projects to invest in, from the biggest cryptos in the market to cryptos that are still working to break into the top 50.
Okcoin is particularly known as one of the best places to buy Bitcoin. It would transact more than 16 million Bitcoins per month. The exchange is also the first in the United States to allow you to buy Bitcoin in satoshis, the smallest unit of Bitcoin. Some traders prefer this rather than buying a tiny fraction of a Bitcoin.
Offers crypto staking and lending
Staking and crypto lending are popular ways to earn rewards on your crypto holdings. Okcoin makes this easy and offers competitive interest rates.
You can earn rewards on more than 10 of the cryptocurrencies offered by Okcoin simply by depositing them into a stake/loan pool. Interest rates depend on the cryptocurrency. Many offer an APY of over 5%, and there are a few that offer over 10%.
LEARN MORE: What is staking in crypto?
Okcoin offers highly rated mobile apps for Apple and Android devices. The Okcoin mobile app offers the same functionality as the web-based platform, so you can use it for crypto trading, staking, deposits, and withdrawals.