As more and more cryptocurrencies become accepted across the globe, more and more coins exchanges are surfacing online. The problem is that every country has its own set of regulations when it comes to cryptocurrencies. So while some countries might have light and rather unrestrictive regulations, others might be more severe and limited. This is why so many cryptocurrency exchanges are becoming bound to their country of origin.
What Is KoinOK?
KoinOK is a digital asset trading platform which makes trading cryptocurrencies secure, easy and quick in India. It seems that currently, this exchange offers trading between INR(Indian Rupee), XRP (Ripple), and ETH (Ethereum).
Getting Started With KoinOK
One of the first steps that you will have to complete if you are interested in using KoinOK is registering an account on the platform and creating a digital currency wallet. From that point on you will have to verify your identity. KoinOK wants you to upload Aadhar and PAN documentation and link your bank account to the KoinOK platform before you can start using the exchange. Once this is complete you will be able to transfer INR from your account into the platform and start trading between all the digital currencies.
Why Use KoinOK Trading Exchange Blockchain Platform?
There are a few different reasons why you would want to choose KoinOK over other exchanges available to you. The ability to deposit and withdraw fund through the use of National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS) is one of them. Not many platforms are able to utilize all of these methods of funding and withdrawals. Additionally, KoinOK is also planning to utilize other payment gateways in the future.
The platform is very secure. End to end data encryption is being utilized through the whole platform. Your wallets are multi-sig hardware supported which offers one of the highest levels of security when it comes to protecting your digital assets. And of course, 2FA authentication is also available for added account protection.
KoinOK isn’t some underground, illegal exchange, they are 100% legal compliant and follow both KYC and AML guidelines. Furthermore, constant monitoring is in place to check for any suspicious activity. All activities which have been flagged by the system are carefully reviewed and appropriate action is taken to rectify the issue.
The trading engine is well optimized and very efficient which ensures that there is maximum uptime and there is always 24/7 customer support available for any questions or inquiries you might have.
Unlike many other platforms, KoinOK ensures that high-volume traders are well taken care of by offering special rewards for those traders. Meanwhile, the trading fees are guaranteed to be the lowest on the market. All while allowing fast order execution which utilizes an engine with exceptional order matching algorithms. Furthermore, fees are only deducted if the order is successfully filled.
One thing that many platforms usually have a hard time maintaining is social media and blog content. While KoinOK doesn’t have too many articles on their blog, they do seem to be pretty active on the social media aspect of their platform. They cherish the community they have created and constantly interact with them.
There many different platforms available for use if you intend to trade digital assets. Each platform comes with its own limitations and contingencies. Luckily, KoinOK seems to have very few ifs and buts involved, which makes it an easy platform to use for those who are residing in India.
The platform is very straightforward to use and the registration process is a breeze, as long as you have the right documentation. The only thing we would have liked to see is a few different chart options and an additional one or two color schemes for those of us who might be trading in the middle of the night.
Overall, there is very little to complain about. We know that KoinOK is also planning to roll out Neo as their additional currency but we wonder why not give access to some of the other more lucrative cryptocurrencies? Perhaps the legal limitations in India are more strict regarding some cryptocurrencies or maybe KoinOK is planning on rolling out some of these additional currencies in the future, some communication should be established to clarify. Otherwise, this platform is a breeze and using it should be nothing but a pleasant experience.