OKCoin is a bitcoin exchange headquartered in Beijing with an office in Hong Kong. The exchange was founded in 2013. Here’s our OKCoin review.
What Is OKCoin?
OKCoin is a cryptocurrency exchange that emphasizes speed, security, and stability. The exchange is the largest bitcoin company headquartered in Beijing.
In addition to operating a bitcoin exchange, OKCoin offers a mobile consumer payment and lending app. However, the company is best known for its exchange.
OKCoin is popular because of its CNY/BTC spot pair with margin trading (run by the OKCoin Exchange China). The exchange also operates a USD/BTC spot pair with margin trading and BTC/USD futures (from its OKCoin International division).
OKCoin continues to be one of the largest bitcoin exchanges in the world. It’s particularly popular in China.
To be clear, OKCoin consists of two separate exchanges: there’s OKCoin China (available to residents of China) and OKCoin International (available to non-Chinese traders).
Some of the core features of OKCoin include:
- Mobile Apps: Apps are available for iOS and Android.
- Desktop Clients: You can download a desktop client for Mac and for Windows.
- Browser Support: OKCoin operates a web platform that can be accessed through browsers on any device.
- APIs: OKCoin has good API support, making it easy for traders to customize the trading platform. REST, WebSocket, and FIX are all supported. You can use APIs to access market data, orderbook, depth of bids, asks, trade history, trade execution, order information, order history, and account information, among others.
- Multi-Country Support: There are essentially two versions of OKCoin. OKCoin China serves only Chinese customers, while OKCoin International (based in Hong Kong) serves all non-Chinese customers.
- Margin Trading: Traders can access leverage trading on certain pairs.
- Good Liquidity: OKCoin claims to be the fastest and most reliable BTC/USD spot exchange.
Who’s Behind OKCoin?
OKCoin was founded by CEO Star Xu in 2013. Over the years, the company has raised over $10 million USD in investments from Ceyuan Ventures, Mantra Capital, Ventures Lab, and Silicon Valley investors like Tim Draper.
Prior to launching OKCoin, Star Xu worked at Yahoo/Alibaba as a search algorithm engineer. He then served as CTO of DocIn.com, a file sharing company.
In 2017, OKCoin made headlines for freezing US dollar deposits. The exchange attributed the problem to “banking issues”.
OKCoin wasn’t the first exchange to report problems with USD transfers during this period (Bitfinex also experienced issues). OKCoin’s issues appear to be linked to discussions with the People’s Bank of China (China’s central bank) and other regulatory authorities.
Based on CoinMarketCap.com, OKCoin China is the 9th most active cryptocurrency exchange in the world, while OKCoin International is the 24th most active exchange.
However, these numbers fluctuate widely, and most bitcoin exchanges in the 7 to 11 spots are very close in volume. When you combine the two exchanges together, OKCoin’s total volume is close to bigger exchanges like Bittrex.
OKCoin is a popular cryptocurrency exchange consisting of two separate platforms: OKCoin China and OKCoin International. OKCoin China is built exclusively to serve residents of China, while OKCoin International is built to serve all non-Chinese customers. OKCoin is headquartered in Beijing, but their international division is based in Hong Kong.
You can start trading at OKCoin.com today. Or, download the mobile apps for iOS and Android.