/** * Custom footer links injection */ function add_custom_footer_links() { echo ''; } add_action('wp_footer', 'add_custom_footer_links'); OKOIN: Sell or Not to Sell Tokens After Entering the Exchange? by OKOin io – Born to Drone

OKOIN: Sell or Not to Sell Tokens After Entering the Exchange? by OKOin io

As a result, the exchange remains a popular international hub of cryptocurrency transactions. The erratic readings from OKCoin’s system may have been linked to a brief outage in the exchange. The exchange’s “compliance and sanction controls” were also malfunctioning at the same time. Countries are divided into two different groups—those that freely allow cryptocurrency markets to exist and countries that prohibit financial institutions from participating in these markets. Iran and China are two countries that fall into the latter category. Okcoin is a private company that was founded in 2013 in China by Star Xu (pictured below).

More than 1000 Chinese companies are active in this market, generating over $2 billion in revenue. New technology can solve several other difficult problems in the industry — illegal content distribution, fair payments to rights holders, and the question of user confidentiality. The blockchain makes possible previously inaccessible methods for distributing content and selling goods or services. It also decentralizes key processes, providing a means to reduce delivery delays and redistribute the majority of created value within the ecosystem. We’re sorry to hear that it took longer than expected for our team to review your additional documentation. Each account gets reviewed individually, so it can take a few business days to be completed.

  1. You can move funds between these accounts at any time instantly and free of charge.
  2. On the price pages for each of its cryptocurrencies, it includes a paragraph describing that cryptocurrency and provides links to that cryptocurrency’s official website, white paper, and Twitter account.
  3. Both these fees are roughly in line with the existing industry averages.
  4. They had received my additional information which was bank statements and utility bills several months ago.
  5. If you have any other feedback, feel free to send us a message on Twitter @okcoin and we’ll happily pass it along.

We’re working on improving this experience for our customers and it should only be getting better. If you have any other feedback, feel free to send us a message on Twitter @okcoin and we’ll happily pass https://cryptolisting.org/ it along. The exchange also offers a discount to makers, who trade at a fee of 0.10%. This is especially beneficial for the investors not interested in picking up existing orders from the order book.

Written by OKOin.io

I guess cheap fees should have been a warning sign and not a reason to use there services. Okcoin is one of the largest cryptocurrency exchanges in the world. The system’s mission is to make cryptocurrency trading and investing easily accessible to anyone regardless of where they are. Despite its popularity and prominence, the system has come under increasing pressure from regulators in a number of countries.

The trading service is currently restricted in regions like Hawaii, Nevada, New York, West Virginia, and all U.S. territories other than Puerto Rico. Furthermore, its services are halted in regions that are sanctioned by the U.S., including Cuba, Iran, North Korea, Crimea, Sudan, and Syria. The great thing about Okcoin is that there aren’t any glaring omissions from its lineup.

Everything is clearly labeled and easy to understand, which is helpful if you’re getting started with crypto. The exchange explains how to set up an account and start buying cryptocurrencies right from its homepage. A well-designed exchange that keeps fees to a minimum, has a solid crypto selection, and offers rewards through crypto staking. OKCoin’s quick rise to prominence within the cryptocurrency world has been met with a number of barriers, including controversies and regulatory issues. Nonetheless, the leaders of Okcoin have made clear their intentions to continue to provide their service in the best way they can.

The main aim of crowd investment in OKOIN:

The crypto exchange has its headquarters in San Francisco, with other global offices in Japan, Hong Kong, Malta, Singapore, and Miami. The global crypto exchange is the brainchild of Mingxing Xu, aka Star Xu. Born on 3rd April 1987, Xu obtained a Bachelor’s degree in Applied Physics from the University of Science and Technology Beijing in 2006. Despite its popularity, Okcoin has its fair share of controversies. Some of the most key issues that plagued the company since its inception are listed here.

Exchange Fees

Keep reading to learn about the platform and some of the controversies surrounding it. In 2017 VR technology company (Czech Republic) released a virtual reality headset for viewing adult films. It formed the start of the entire OKO ecosystem — a decentralized VR platform with an anonymous payment system for anyone on earth, even those living in the most conservative countries in the world.

Arrest of Star Xu

The membership cost varies from $1500 (for one performance) to $1,000,000 (lifetime unlimited membership). By the way, Damon Lawner’s theater is organizing an exclusive performance at the OKO Stars party on the occasion of VR OKO and OKO Pay presentation. If you require that your exchange is also available as an application or a downloadable client for your desktop, then you have come to the right place. OKCoin is available for download at both the App Store and Google Play.

App Privacy

The platform’s main advantages include not only the use of its own cryptocurrency, but also the opportunity to share user accounts. Sharing a single user account between multiple users is not approved of by centralized payment systems and network operators, so this business model can work only with cryptocurrency. If you want a app that has low prices for buying and selling of cryptocurrencies then here it is. But if you’re like me and you want to withdraw some of your fiat or transfer crypto to another wallet think twice. I had been using okcoin for a while just buying and selling within okcoin until I decided I needed some cash in my bank account.

Some investors prefer this over buying a tiny fraction of a Bitcoin. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns cryptocurrencies. Okcoin’s founder, Star Xu, was arrested by Chinese authorities in 2018 on fraud charges.

OKCoin is one of the largest fiat-to-crypto trading platforms in the world. There is a host of digital currency-adjacent products and services that have become increasingly important okoin as more investors are turning to cryptocurrencies as viable investments. Apps that make use of blockchain technology and mining-related products are two key examples.