Okcoin FAQs
Okcoin's Frequently Asked Questions page is a central hub where its customers can always go to with their most common questions. These are the 187 most popular questions Okcoin receives.
Frequently Asked Questions About Okcoin
Last Updated: February 4, 2020
The BSV Genesis upgrade is complete. BSV deposits and withdrawals have resumed as of 11:00 PM PST on February 3, 2020.
Note: Do not use your previously generate BSV deposit and withdrawal addresses as they have changed.
BSV deposit addresses have been changed from a p2sh multi-signature address to a p2pkh single-signature address.
BSV withdrawals will now only support p2pkh single-signature addresses. Please use the p2pkh single-signature address that has been created.
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OKCoin will support the Bitcoin SV (BSV) Genesis upgrade scheduled for block number 620,538 which is estimated to occur on February 3, 2020. In preparation of the upgrade, deposits and withdrawals of BSV will be temporarily suspended from 5 AM February 3, 2020 PST until the upgrade is complete.
To ensure the safety of your assets, we advise that you do not deposit and/or withdraw your BSV during the upgrade. Please note that spot trading will not be affected.
Details:
Temporary Suspension of BSV Deposits and Withdrawals:
Services will be suspended from 5AM February 3, 2020 PST until the upgrade is complete.
Resumption of BSV Deposits and Withdrawals:
BSV deposits and withdrawals will be resumed when the BSV mainnet is stable. Please refer to our future announcements on the resumption time.
No new tokens will be created in this upgrade.
OKCoin
February 2, 2020
View ArticleWhile OKCoin has no withdrawal limits on how many times you can move funds from your account, withdrawing funds soon after a single fiat deposit of over $5,000 can trigger a temporary hold on your token withdrawals. We place a hold on your token withdrawals to make sure that your funds are secure. This hold should last no longer than 30 days as our team reviews your account for any security concerns.
You can get unlimited withdrawal access for your account by providing your proof of address.
Contact Customer Support for any questions.
OKCoin
January 24, 2020
View ArticleSpot trading for the following assets and pairs will be suspended:
BAT: BAT/USD
DCR: DCR/USD
XLM: XLM/USD
ADA: ADA/USD
ZEC: ZEC/USD
Trading suspension for these markets will go into effect on February 6, 2020 at 6 PM PST.
Notes on trading suspensions:
Wallet support for suspended assets will not be impacted deposit, storage, and withdrawal is still enabled. Should OKCoin suspend the deposit, storage, and withdrawal of a currency, we will notify users with sufficient notice. Please pay attention to further announcements.
For updates and details, please see the token directory.
OKCoin,
February 3, 2020
View ArticleLast Updated: July 26, 2019
1. PURPOSE OF OUR PROGRAM
OKCoin.com (“OKCoin”) has established and implemented an Anti-Money Laundering, Anti-Terrorist Financing, and Trade & Economic Sanctions Program (“AML/ATF/Sanctions Program” or “Program”) to ensure a robust and compliant digital asset trading platform. We want to promote legal, transparent business activities and maintain a strong reputation among our customers, regulators, and the digital asset industry.
2. OUR ROLE AND ACTIVITIES
We are a global digital asset trading platform or marketplace, where traders come as buyers and sellers (commonly referred as market-makers and market-takers). For clarity, buyers and sellers trade with each other and not with OKCoin. We are not a counterparty to any trade. Our Services are available through OKCoin.com, associated application program interfaces and/or mobile applications and through customer on-boarding entities, including,OKCoin USA Inc.,OKCoin USA Digital Assets Inc. (both incorporated in the United States of America),OKCoin Europe LTD(incorporated in Malta), OKCoin Pte Ltd(incorporated in Singapore) andOKCoin Technology Company Limited(incorporated in Hong Kong).
Disclosure: Trading is risky. The risk of loss in trading or holding digital assets can be substantial. You should therefore carefully consider whether trading is suitable for you in light of your financial condition.
3. REGULATORY LANDSCAPE
We understand that regulatory bodies have taken a diverse approach to the laws and regulations regarding digital assets, including some characterizing or defining digital assets as virtual financial asset (by Malta), convertible virtual currency (by USA FinCEN), virtual commodity (by Hong Kong) or digital payment token by Singapore. As a trading platform, we believe that bitcoin and litecoin (as well as other alternative-coins) are digital assets that are emerging as an innovative alternative asset class; and therefore, digital assets should not be called currency or money.
Disclosure: Digital assets are not fiat money nor fiat currency. Digital assets such as bitcoin and litecoin are NOT backed by any government or central bank. Nevertheless, since we provide a valuable feature to our customers who wish to trade and settle in fiat, we believe it is imperative to maintain a robust AML/ATF/Sanctions program as we connect with the fiatfinancial system. We may at times have opinions of the different regulatory approaches taken by various government bodies; however, at all times, we will fully abide by rules and regulations of the respective countries we operate in. We regularly reach out to regulators and industry on the best approach to regulating digital asset businesses. Furthermore, OKCoin does not accept certain customers. To maintain our strong reputation in the market and ensure a robust compliant marketplace, we have decided to not seek nor accept customers from certain jurisdictions including Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador, and Kyrgyzstan. The latter four countries have presently banned activities involving digital assets. Additionally, within US, we currently only provide our Service to users in select states.
We cooperate with governments and respect regulations and comply with applicable regulations. As good corporate citizens, we may be asked for information from law enforcement authorities and will assist if permissible by law as law enforcement conduct investigations to pursue and thwart illicit activity. What this also means is that our platform is intended for law abiding customers. We welcome the opportunity to earn your business, and in return we require that you act legally and properly on our platform.
4. OUR AML/ATF PROGRAM
We have designed our Program to reasonably prevent money laundering and terrorist financing through a risk-based, multi-layer control system.
The first layer includes a stringent customer identification program, including verifying the identity of our customers, whether individuals or entities. In addition to obtaining identification documents, we obtain for non-natural persons their entities’ beneficial owners/natural persons consistent to international standards such as the Financial Action Task Force (FATF).
The second layer includes a risk-based system to warrant additional customer due diligence. To accomplish this, we screen our customers (including beneficial owners) against the entities/persons on The Government of the Hong Kong SAR Gazette, United States Office of Foreign Assets Control (OFAC) Sanctions Lists, and the United Nation Security Council Sanctions List, among other government-provided lists of sanctioned individuals and entities. We also may screen against other lists on a discretionary basis to protect our reputation and customers.
The third layer includes ongoing monitoring for suspicious activity. If our Program suspects or has reason to suspect suspicious activities have occurred, we will file suspicious activities reports with local regulators. A suspicious transaction is often inconsistent with a customer’s known and legitimate business, or personal activities.
These are the primary components of our compliance program; however, the most important glue or connection to these layers are our leadership team and staff, including AML/Risk personnel that execute training, oversight and a sound compliance culture.
5. RISKS
Trading in digital assets is considered high risk. Digital assets such as bitcoin and litecoin are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.
6. COMMUNICATION
If you have questions or require assistance with our customer due diligence controls, please reach out to our 24/7 customer service representatives by phone, chat or email at [email protected].
For any law enforcement requests, please refer to the Law Enforcement Request Guide for more details regarding the contact information:
https://support.okcoin.com/hc/en-us/articles/360008812791-OKCoin-Law-Enforcement-Request-Guidance
7. DIFFERENT VERSIONS
This "Risk & Compliance Disclosure" may be posted in different languages. If there are any discrepancies, the English version shall prevail.
View Article1. After logging in, click the "Assets" dropdown menu and choose "Savings" under Accounts in the left-hand navigation menu.
2. Please read and accept the Savings Service Agreement in order to participate in Savings.
3. You can use your various accounts (Funding, Spot, and Margin) to transfer funds to and from your Savings. Click on the "Transfer" function on the left-hand navigation menu, choose the desired currency, and indicate the transfer direction between accounts.
4. You can see the status of your Savings by clicking on the Savings account on the left-hand navigation menu.
You may enable the “Transfer My Wallet's available asset every day at midnight” function which automatically transfers the positive balance of assets supported by Savings from your Funding Account into your Savings account.
You may also view your Savings history by clicking on "Savings Bills" on the top right corner.
Note:
No interest income will be accrued on the first day of depositing. Interest will be accrued from the 2nd day (after 00:00) and paid on the 3rd day (after 00:00). The interest income paid will be automatically transferred to and accumulated in the your Savings account.
The fund transfer time may be delayed due to system processing.
OKCoin
July 10, 2019
View ArticleWhat should I know before making a withdrawal?
KYC level 2 is required for both USD deposit and withdrawal
24-hour maximum withdrawal limit:
Personal account - KYC level 2: USD2,000,000
Personal account - KYC level 3: USD2,000,000
Corporate account - KYC level 2: USD4,000,000
The limit includes both fiat currency and digital asset withdrawal. Withdrawal of digital asset will be calculated according to the last traded price during execution.
Fees
OKCoin charges no service fee for withdrawal.
Other fees may be levied by your bank or other parties.
for example, Epay charges 1\% service fee (minimum USD5) + wire transfer fee
Discounts may be offered during promotional periods, please refer to the promotion terms and conditions for details.
A step by step guide
Go to "Account - Withdraw", select the beneficiary account and enter the amount you wish to withdraw.
After submitting the request, our team will verify the details and make the transfer through a third-party service provider. Epay service fee and wire transfer fee will be deducted automatically from your withdrawal amount.
If your withdrawal is rejected by the beneficiary bank, we will return the withdrawal amount and the service fee charged by us. However, Epay service fee and wire transfer fee cannot be refunded. Therefore, please make sure you have entered the correct bank information before making a withdrawal.
View ArticleWe customize our offerings for our individual and institutional traders depending on their identity verification level. These limits help us protect your account and fulfill government-mandated Know Your Customer (KYC) and anti-money laundering (AML) requirements. The limits for each verification level are as follows:
Individual User Limits:
Identity Verification Level 1
Identity Verification Level 2
Identity Verification Level 3
Fiat Deposit
$2,000 total
$700,000daily
unlimited
Token Deposit
$2,000 total
$700,000daily
unlimited
Fiat Withdrawal
$2,000 total
$500,000daily
unlimited
Token Withdrawal
$500,000daily
unlimited
Fiat-to-Token Trading
unlimited
unlimited
unlimited
Token-to-Token Trading
unlimited
unlimited
unlimited
Margin Trading*
unlimited
unlimited
unlimited
*Margin trading is only available for users outside of the U.S. and E.U.
Institutional User Limits:
Basic Verification Level 1
Advanced Verification Level 2
Fiat Deposit
$10,000,000 daily
Token Deposit
unlimited
Fiat and Token Withdrawal
$10,000,000daily (combined)
Fiat-to-Token Trading
unlimited
Token-to-Token Trading
unlimited
Margin Trading*
unlimited
*Margin trading is only available for users outside of the U.S. and E.U.
Please reach out to our support team at [email protected] should you have any questions. As always, happy trading!
OKCoin
June 6, 2019
View ArticleLast Updated: December 16, 2019
It has been a while since we opened USD deposit & withdrawal services. We found that there are certain problems which often happen and delay the process. Here's how to avoid them:
1. Provide correct and accurate information
- KYC verification: Please provide your information in English. We have found that there are account names provided in Chinese, which is not accepted for deposit and withdrawal process. If you have provided Chinese account name during identity verification please contact our customer support for modification. After that, please remove your bank account from OKCoin and link again.
- Bank information: You may use abbreviations or full name for your country of residence. Please fill in all information in English and make sure that you have input the correct SWIFT code. Otherwise, extra wire transfer fee may be levied for failed transfer. Chinese banks are not supported at the moment, please use bank accounts of other countries or regions instead. Also, fill in the intermediary bank information (if any) will help expedite your deposits and withdrawals.
2. Service Fees
Fees are levied for withdrawals, including:
0.1\% from OKCoin (min. USD15) and will be charged from your account balance
1\% from Epay (min. USD15)
bank wire transfer fee (different banks may have different fee schedule)
1. If your withdrawal request is rejected before approval, the services fee/wire transfer fee charged by OKCoin, Epay, your bank, and also your withdrawal amount will be returned to your account.
2. However, if you withdrawal has already been approved, but is returned by the beneficiary bank due to incorrect information or other reasons, the service fee and wire transfer fee levied by Epay and the bank will not be returned. While the 0.1\% service fee charged by OKCoin and the withdrawal amount will be returned to your OKCoin account.
3. If intermediary bank is involved in the transfer, extra fee may be levied, even if you have not provided the information of the intermediary bank during identity verification.
Note:The term "deposit", when shown on this page, generally means transferring-in fiat to the relevant bank account. OKCoin is not carrying out, and does not intend to carry out, any deposit-taking business.
View ArticleLast Updated: December 16, 2019
OKCoin supports US Dollar wire transfers from banks located in both our US and international areas of operations.
Important Tip 1: In the U.S., only wire transfer and Silvergate SEN (Silvergate Exchange Network) deposits are currently supported. ACH and Bill Pay are not supported.
Important Tip 2: Deposit via wire transfer is a 2-step process:
Submit a deposit request on OKCoin and take a screenshot of the wire transfer instruction.
Login to your bank’s online banking platform (or visit your bank branch) to initiate an actual wire transfer manually.
Step 1- Click Fiat Deposit
After logging in, click Fiat Deposit from the drop-down menu
Step 2- Click Add Bank Information
2a. Click Add Bank Information to add a bank that you will be making the deposit from.
2b. Fill in the bank information, and then click Submit.
Step 3- Submit the Amount you wish to deposit
Return to the Fiat Deposit page and input the corresponding deposit amount.
Step 4- Confirm/Submit the Deposit Request
Confirm details such as the Requested Amount, Wire Amount, and Bank Account Number. Submit the deposit request.
Step 5- Proceed to Your Bank to Initiate a Wire Using Wire Instructions Provided
5a. After Step 4- Confirm/Submit [OKCoin] Deposit Request, you will see the wire transfer instruction displayed on the screen. Please use the wire transfer instruction provided to initiate a wire transfer from your own bank.
Note: The screenshot below is only an example. Please use the actual wire instruction displayed after you submit Step 4.
If you close the above popup, you can re-check the deposit request details and wire transfer instruction by clicking the View hyperlink.
5b. Initiate a Wire Transfer From Your Own Bank
Login to your own bank’s online banking platform (or visit your bank branch) to initiate an actual wire transfer, using the wiring instruction provided by OKCoin.
For example:
The bank that I will use to wire money to OKCoin is Wells Fargo Bank.
I login to Wells Fargo online banking platform.
Step 6- Check Your Wallet Balance
Your deposit via wire transfer will be credited to your OKCoin account in 1 to 3 days.
You may check your balance in the Wallet.
Start trading by transferring your fund to your Spot Account or Margin Account (only available to non-US).
Note:The term "deposit", when shown on this page, generally means transferring-in fiat to the relevant bank account. OKCoin is not carrying out, and does not intend to carry out, any deposit-taking business.
View ArticleLast Updated: December 16, 2019
Transaction Fee
Tiers P1 - P7 are eligible for OKCoin Premier benefits.
User Tier
30-day Trading Volume (USD)
Maker Fee
Taker Fee
Lv1
< 100,000
0.10\%
0.20\%
P1
100,000
0.07\%
0.14\%
P2
500,000
0.05\%
0.10\%
P3
2,000,000
0.03\%
0.08\%
P4
5,000,000
0.01\%
0.07\%
P5
10,000,000
-0.005\%
0.06\%
P6
20,000,000
-0.01\%
0.04\%
P7
30,000,000
-0.01\%
0.03\%
Your trading fees are determined by trailing 30-day volume. All volume is converted to USD using the exchange rate of the digital asset at the time of the transaction. Transactions in non-USD base-pair markets are also converted. Your 30-day trading volume is calculated every day at 00:00 (UTC+8).
Transaction fees are charged in the asset you purchase. For example, if you buy BTC/USD the fee is charged in BTC. Rebates are paid in the asset you sold. For example, if you buy BTC/USD the rebate is paid in USD.
Market Makers
If you are a professional market maker, contact us at [email protected] to learn more about available incentives.
Margin Interest Rates
Margin interest rates fluctuate in real-time between the highest and lowest possible daily rates, depending on supply and demand.
Type of Asset
Lowest Interest
Highest Interest
USD
0.005\%
0.025\%
Digital Assets
0.001\%
0.005\%
Deposit and Withdrawal Fees
OKCoin offers a variety of deposit and withdrawal channels. The fees for each are detailed below:
Channel
Deposit Fee
Withdrawal Fee
Deposit Minimum
Signature Bank (Bank Transfer)
Free
Free
Corporate: from USD 100
Individual: from USD 50,000
Silvergate Bank (Bank Transfer)
Free
Free
From USD 100 (US users only)
Prime Trust (Bank Transfer)
Free
USD 35/transaction
From USD 100
Epay Account Transfer
OKCoin charges 1\%
Free
None
Prime X Transfer
Free
Free
From USD 100
Bank Frick
(SEPA and Wire Transfer)
Free
EUR 1 (SEPA)
EUR 18 (Wire Transfer)
From EUR 5
When making a deposit, your sending bank might charge a handling fee. When making a withdrawal, your receiving bank might charge an intermediate fee. These transaction fees are not charged by OKCoin. The above transaction fee is not charged by OKCoin.
Although OKCoin uses multiple banks to receive your deposits, you are not required to use the same bank to make a deposit. We accept bank transfers from global banks, excluding countries outside our areas of operation and China. For details, please refer to your bank’s policy regarding digital assets. For details, please refer to your bank’s policy regarding digital assets.
Note:The term "deposit", when shown on this page, generally means transferring-in fiat to the relevant bank account. OKCoin is not carrying out, and does not intend to carry out, any deposit-taking business.
View ArticleLast Updated:Dec 9, 2019
1. INTRODUCTION
Thank you for visiting OKCoin.com (“OKCoin” or the “Site”). Your use of the Site is being provided by one of the following parties (collectively, as “"we", "our", or "us"):
OKCoin USA Inc., which is a U.S. corporation, if you are a resident in a U.S. State and permitted to transfer-in or withdrawal fiat and digital assets to commence digital asset trading;
OKCoin USA Digital Assets Inc., which is a U.S. corporation, if you are a resident in a U.S. State and permitted to transfer-in or withdrawal only Digital Assets to commence digital asset trading;
OKCoin Europe LTD, which is a Malta corporation, if you are a resident of a country in the European Union;
OKCoin Pte Ltd, which is a Singapore corporation, if you are a resident of Singapore or Brunei who registered as a User on or after 15 October 2019; or
OKCoin Technology Company Limited, which is a Hong Kong corporation, if you are a resident of none of the above countries.
By visiting, accessing, or using OKCoin.com and associated application program interfaces or mobile applications, you consent to the policies and practices of this Privacy Policy and Statement (the “Privacy Policy”), so please read them carefully.
This Privacy Policy explains what data we collect, how such data is used and stored, as well as how such data may be shared by us. If you do not wish your Personal Data (as defined below) to be used in the ways described in this Privacy Policy, you shall not use this Site or any services, software, API (application program interface), technologies, products and/or functionalities offered by this Site (“Service”).
2. DEFINITIONS
Digital Asset
“Digital Asset” means a digital asset (also called a “virtual financial asset”, “convertible virtual currency”, “cryptocurrency”, “virtual currency”, “digital currency”, “digital commodity”, or “digital payment token”), such as bitcoin or ether, which is based on the cryptographic protocol of a computer network that may be (i) centralized or decentralized, (ii) closed or open-source, and (iii) used as a medium of exchange and/or store of value.
Personal Data
“Personal Data” means any information which, either alone or in combination with other data, enables you to be directly or indirectly identified, such as your name, email address, username, contact details, identification number, location data, an online identifier such as IP address, device ID or one or more factors specific to the physical, economic, cultural or social identity of you.
3. WHAT PERSONAL DATA WE COLLECT
OKCoin collects, processes, and stores Personal Data via your use of the Service or where you have given your consent. This Personal Data may include contact details, copies of identification documentation provided by you or derived from publicly accessible databases, your government identification number as well as information relating to your device or internet service (such as an IP address and a MAC number).
In addition, we conduct business and collect Personal Data from individuals and entities located within the European Economic Area (“EEA”). We are required to protect Personal Data processed in the EEA in accordance with the General Data Protection Regulation (“GDPR”). To understand more about how we protect the data collected from individuals and entities located within the EEA, please see the details below.
We collect information you provide during the OKCoin on-boarding process, which may be a completed, incomplete, or abandoned process. We also collect Personal Data when you communicate to us through customer support, subscribe to marketing communications, or correspond with us by phone, email or other communication channels. We collect, use, store, and transfer your Personal Data, which may include, without limitation, the following:
Individual customers:
Email address
Mobile phone number
Nationality
Full legal name (including former name, and names in local language)
Social Security Number (“SSN”), Passport number, or any government issued ID number
Date of birth (“DOB”)
Proof of identity (e.g. passport, driver’s license, or government-issued ID)
Residential address
Proof of residency
Additional Personal Data or documentation at the discretion of our Compliance Team
Corporate customers:
Corporate legal name (including the legal name in local language)
Incorporation/registration Information
Full legal name of all beneficial owners, directors, and legal representatives
Address (principal place of business and/or other physical locations
Proof of legal existence
Description of the business
Percentage of ownership for Individual/corporate owners
Contact information of owners, principals, and executive management (as applicable)
Proof of identity (e.g., passport, driver’s license, or government-issued ID) for each individual beneficial owner that owns 10\% or more of the institutional customer entity
Personal Data for each entity’s beneficial owner that owns 10\% or more of the institutional customer entity (see the “Individual Customer” section above for details on what Personal Data we collect for individuals)
Source of wealth
Amount of fiat to be injected
Amount of digital assets projected to be injected
4. COLLECTION AND TRANSFER OF DATA OUTSIDE OF THE EEA
As outlined above, we collect Personal Data from customers located in the EEA. To facilitate the services we provide to customers located in the EEA, we request explicit consent for the transfer of Personal Data from the EEA to outside of the area. If you are an individual located in the EEA and you decline to consent to such transfer, you will no longer be able to use OKCoin and our services. You will have the ability to withdraw your digital assets and fiat currency; however, all other functionalities will be disabled.
5. HOW WE USE YOUR PERSONAL DATA
OKCoin uses Personal Data to administer, deliver, improve, and personalize the Service for you and to comply with our legal and regulatory obligations. We may also use such data to communicate with you in relation to other products or services offered by OKCoin and/or its partners.
You agree that OKCoin has the right to share your Personal Data with:
Member of our group, which includes our subsidiaries, holding companies and companies under common control including their respective contractors, affiliates, employees or representatives;
Our service providers and other third parties who assist us in providing Service to you and/or as required or permitted by law or professional standards;
Entities in connection with any financing, acquisition or dissolution proceedings which involve disclosing certain portion or all of our business or assets; and
Law enforcement agencies and authorities, officers, regulators or other third parties to comply with any law, court order, subpoenas or government requests.
Other than as disclosed in this Privacy Policy, OKCoin does not share your Personal Data with any other third parties unless required to do so by law or legal reporting obligations. This site may contain links to other third-party websites where their own privacy policies may apply and OKCoin is not responsible for the privacy policies of such third-party websites.
Additionally, we have implemented international standards to prevent money laundering, terrorist financing and circumventing trade and economic sanctions, which requires us to undertake due diligence on our customers. This may include the use of third-party data and service providers which we will cross-reference with your personal information.
6. HOW WE STORE YOUR PERSONAL DATA
The data that we collect from you may be transferred to, stored at, a destination outside of the country of your residence. It may also be processed by staff operating outside of your residence who work for us or for one of our suppliers. By submitting your personal data, you agree to this transfer, storing or processing, except customers located in the EEA, as detailed above.
7. ACCESS CORRECTION, AND DELETION OF YOUR PERSONAL DATA
You have the right to obtain a copy of your Personal Data upon request and ascertain whether the information we hold about you is accurate and up-to-date. If any of your Personal Data is inaccurate, you may request to update your information. You may also request to delete your Personal Data, with exception that we may refuse your deletion request in certain circumstances, such as compliance with law or legal purposes. For data access, correction, or deletion requests, please contact [email protected] with the subject “DATA INQUIRY”.
In response to data access, correction, or deletion request, we will verify the requesting party’s identity to ensure that he or she is legally entitled to make such request. While we aim to respond to these requests free of charge, we reserve the right to charge you a reasonable fee should your request be repetitive or onerous.
8. MARKETING
We may communicate company news, promotions, and information relating to our products and services provided by OKCoin. We may share Personal Data with third parties to help us with our marketing and promotional projects, or sending marketing communications. By using OKCoin, you accept this Privacy Policy and you agree to receive such marketing communications.
Customers can opt out from these marketing communications at any moment. If you do not want to receive these communications, please send an email to [email protected].
For product related communications, such as policy/terms updates and operational notifications, you will not be able to opt out of receiving such information.
9. COOKIE USAGE
While you access OKCoin, we may use the industry practice of placing a small amount of data that will be saved by your browser (Cookies). This information can be placed on your computer or other devices used to visit OKCoin. This information helps us recognize you as a customer, collect information about your use of OKCoin to better customize our services and better your experience. We may also use the information collected to ensure compliance with our Bank Secrecy Act (“BSA”) and Anti-Money Laundering (“AML”) program (“BSA/AML Program”), and to ensure your account security has not been compromised by detecting irregular or suspicious account activities.
Most browsers are setup to accept cookies automatically. Some Cookies expire when you finalize the session and other Cookies remain on your computer or other devices until deleted or expired. You have the option to decline the use of our Cookies, but this may affect the functionality of OKCoin services or your user experience.
10. INFORMATION SECURITY
We endeavor to protect OKCoin and you from unauthorized access, alteration, disclosure, or destruction of Personal Data we collect and store. We take various measures to ensure information security, including encryption of the OKCoin communications with SSL; required two-factor authentication for all sessions; periodic review of our Personal Data collection, storage, and processing practices; and restricted access to your Personal Data on a need-to-know basis for our employees and vendors who are subject to strict contractual confidentiality obligations.
11. CONTACTING OKCOIN ABOUT PRIVACY QUESTIONS OR CONCERNS
If you have any questions about this Privacy Policy or the use of your Personal Data, please contact us by sending an email to the following address [email protected] with the subject “PRIVACY REQUEST”.
For customers from EEA, you have right to make compliant for unresolved questions in relation to the collection, use or disclosure of your Personal Data to the applicable supervisory authority within your jurisdiction.
12. CHANGES TO OUR PRIVACY POLICY
We may update this Privacy Policy at any time by posting the amended version on this Site including the effective date of the amended version, so please check frequently to see if any updates and changes.
13. LANGUAGES
This Privacy Policy may be posted in different languages. If there are any discrepancies, the English version shall prevail.
View ArticleLast Updated: Dec 9, 2019
Thank you for visiting OKCoin.com (the “Site”). Your use of the Site is being provided by one of the following parties (individually as a “Party” and collectively as the “Parties”):
OKCoin USA Inc., which is a U.S. corporation, if you are a resident in a U.S. State and permitted to transfer-in or withdrawal fiat and digital assets to commence digital asset trading;
OKCoin USA Digital Assets Inc., which is a U.S. corporation, if you are a resident in a U.S. State and permitted to transfer-in or withdrawal only digital assets to commence digital asset trading;
OKCoin Europe LTD, which is a Malta corporation, if you are a resident of a country in the European Union;
OKCoin Pte Ltd, which is a Singapore corporation, if you are a resident of Singapore or Brunei who registered as a User on or after 15 October 2019; or
OKCoin Technology Company Limited, which is a Hong Kong corporation, if you are a resident of none of the above countries.
The Parties above provide the user of the Site (referred to herein as "you", "your" or “User”) the ability to engage in digital asset trading with other Users. By visiting or accessing the Site, you agree that you have read and accepted all of terms and conditions contained in this Terms of Services as amended from time to time (the “Terms”) as well as our Privacy Policy as amended from time to time as published on the Site and you acknowledge and agree that you will be bound by such Terms and policies, so please read them carefully. By clicking the "create account" button or by visiting the Site, the applicable Party provides you with access and utility through our digital asset trading platform via software, API (application program interface), technologies, products and/or functionalities (collectively or individually, the “Service(s)”).
If you do not agree to be bound by these Terms, do not access or use the Service. The Parties reserve the right to change or modify the terms and conditions contained in these Terms, including but not limited to any policy or guideline of the platform, at any time and at its sole discretion. As described in these Terms, you agree to be legally bound by these terms and all terms incorporated by reference. We will provide notice of these changes by posting the revised Terms on the Site and changing the "Last updated" date at the top of the Terms, or by emailing Users at their provided email addresses, or by any other means as determined by your onboarding Party at its sole discretion, and the updated Terms shall be effective at such time. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your account. You agree that we shall not be liable to you or any third party as a result of any losses suffered by any modification or amendment of these Terms. Your non-termination or continued use of this Site or Services after the effective date of any changes or modifications of these Terms constitute acceptance of such changes or modifications.
These Terms and any terms expressly incorporated herein apply to your access to, and use of, any services provided by the Parties. These Terms do not alter in any way the terms or conditions of any other agreement you may have with the Parties for products, services or otherwise. If you are using the Service on behalf of any entity, you represent and warrant that (a) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization and (b) you are authorized to accept these Terms on such entity’s behalf and that such entity agrees to be responsible to us if you violate these Terms.
We encourage you to frequently review the Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Service. If you have any questions regarding the use of the Services, please contact [email protected].
1. SERVICE BY PARTIES
The Parties provide online digital asset trading services and a platform to spot trade digital assets (or also known as “convertible virtual currency” in the US, “virtual financial assets” in Malta, “virtual commodities” in Hong Kong, “digital payment token” in Singapore, or occasionally by others as “cryptocurrency”,“cryptographic tokens”, “digital tokens”, or “cryptographic currency”) and facilitate margin lending in certain permitted jurisdictions. Traders conduct trading on our platform with each other; the applicable Party, as the platform provider, is not a buyer or seller in these trades. Users must open an account and transfer-in digital assets or fiat currencies prior to commencement of trading. Users may request withdrawal of their digital asset or fiat currencies, subject to the limitations as stated in the local law where the Party is incorporated and the Terms.
Information Accuracy: While the Parties have made every effort to ensure the accuracy of the information on our Site and to give prior notice to the Users of any material change to the information of the Site, the information and content on the Site is subject to change without prior notice and is provided for the sole purpose of assisting Users to make independent decisions. The Parties have taken reasonable measures to ensure the accuracy of the information on the Site; however, we do not guarantee the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any Service or products available through the Site, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access our Site, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through our platform. The Parties will not have any liability for the use or interpretation of such information.
Users shall prepare devices and bear costs as follows:
Internet-connected device, including but not limited to computer or other internet-connected terminals;
Internet-accessing costs, including but not limited to internet fees, rental charges for internet-connected equipments, cellular data fees, etc.
Service Availability: By using our Service, you acknowledge and consent that the Service is provided by the Parties according to their current technological capacity and other conditions. While the Parties have made every effort to ensure continuity and security of the Service, we are unable to completely foresee and eliminate legal, technological and other risks including but not limited to force majeure, virus, hacker attack, system instability, flaw in third-party services, act of government, etc. that may result in service interruption, data loss and other losses and risks.
Abnormal Transactions: while using the Service, you agree and acknowledge the possibility of discontinuity and disruption of the Service due to connectivity problems of the digital asset networks or other force majeure. Users shall have the sole responsibility to provide and keep the Parties update of accurate personal information. The Parties do not assume any responsibility of any losses caused by the above mentioned situations due to Users’ failure in providing up-to-date information that results in the inability for the relevant Parties to reach out to its Users and give notice to the handling procedures.
When the system platform is unable to operate properly and the User is unable to use the Service properly, the Parties assume no liability for damages or other claims whatsoever, including, but not limited to, circumstances below:
System downtime during maintenance as previously notified by the Parties in accordance with the Terms;
Communication errors as a result of telecom equipment or network failures;
Typhoon, earthquake, tsunami, flood, power failure, war, terrorist attacks and other force majeure factors;
Hacker attacks, computer virus intrusion or attack, the telecommunications sector technology adjustment or technical failure, website upgrade, bank issues, a temporary close due to government regulation, which may cause the network and services interruption or delay;
Losses due to technical problems that cannot be predicted or solved by the existing technical forces of the industry;
Damages to users or other third parties caused by third party faults or delays.
For abnormal transactions, market interruption, and other abnormal conditions caused by system failure, network failure, DDos and other hacker attacks and other unexpected market factors, the Parties have the right to cancel the abnormal transaction results, and rollback all the transactions of a certain period of time without prior notice to the affected Users. The Parties assume no liability for damages or other claims whatsoever in connection with such cancellation or rollback of the abnormal transaction.
Fees: Fees may be incurred for certain Service provided by the Parties to its Users. You agree to pay to the relevant Parties for applicable fees in accordance with our fee schedule as published on the Site. The relevant Parties may change the fee models and structures of such services as the case may be. The relevant Parties may also start charging fees on free services at any time. We shall strive to announce any fee changes via our Site or other communication channels ahead of their effective date. You shall stop using the Service if you disagree on the above mentioned changes, modifications or paid content. Please see Section 7 for more information.
Account Security: The Parties shall not ask for any password from its Users, nor shall we ask Users to transmit any funds or digital assets to bank accounts or addresses that are not listed on our trading platform. Please do not trust any discount or promotion related information that are not accessed through the Site. The Parties shall not be responsible for any losses caused by transmitting funds or digital assets to bank accounts or digital asset addresses that are not listed on the trading platform. Please see Section 4 for more information.
Service Changes: You agree the relevant Parties may change or suspend these Services at any time. By continuing to use the Service, you agree to the Terms and any other Terms added subsequently. Please see Section 8 for more information.
Third Party Asset Transfers: At the time of transfer, the Parties may transfer the relevant assets under these Terms to a third party; the Parties may also transfer part or all of the services under these Terms to a third party to operate or fulfill after our unilateral prior notice.
User Information: The Parties have the right to know the real transaction background and purpose of the Users who use the products or services of the Parties. Users must provide real, comprehensive, up-to-date and accurate information required by the Parties; if the Parties have reasonable grounds to suspect that the User has provided false trading information, the Parties are entitled to restrict the User from the use of some or all the relevant Parties’ products, services and/ or functions either temporarily or permanently.
2. ELIGIBILITY AND PROHIBITION OF USING OUR SERVICES
The Service are intended solely for users who are 18 or older. By accessing or using our Service, you represent and warrant that you are at least 18 years of age and have not previously been suspended or removed from the Site or Service. You also represent and warrant that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List, not a resident from the Restricted Territories (as defined below), nor restricted or prohibited from engaging in any type of trading platforms by any law enforcement agencies. Also, the relevant Parties may not make all of the Service available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Service from certain countries/regions/territories (the “Restricted Territories”), which at this time include Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador, and Kyrgyzstan, due to compliance or regulatory requirements.
You further represent and warrant that you will not use the Site or any Service to conceal or disguise the origin or nature of proceeds of crime or terrorist financing, to further any breach of applicable laws and regulations, including anti-money laundering (“AML”) or counter terrorist financing (“CTF”) laws and regulations, or any other illegal activities.
Additionally, within US, we currently only provide our Service to users in specific States. The content of these Terms shall not be excluded from the laws of the country or region where the User is resided. As a result, if you do not meet these eligibility requirements, do not use our Service. Additionally, if you are registering to use the Service on behalf of a legal entity (corporate customers), you represent and warrant that such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and you further represents that you are duly authorized by such legal entity to act on its behalf.
3. RISK DISCLOSURE
3.1 Trading Risk: Trading of digital assets involves significant risk. The risk of loss in trading or holding digital assets can be substantial. You should therefore carefully consider whether trading in digital assets (or any use of margin if permitted/enabled) is suitable for you in light of your financial condition.
You should exercise prudence in trading in digital assets (as well as any other assets). Prices can and do fluctuate at any moment. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any digital asset or trading position may be subject to large swings in value and may even become worthless.
3.2 User Responsibilities. The user shall bear any loss as a result of his/her own actions, including but not limited to:
“Fat finger” input or instructions errors, including price or quantity errors;
Mis-timing or mis-submission of trade instructions;
Forgetting or leaking your password;
Computer or network issues, including any hacks or virus related issues;
Transfer-in or withdrawal of digital assets or fiat currencies to or from the wrong account;
Third parties accessing and using your account for any reason.
In the event of a potential loophole in the trading rules that unjustly enriches the User, we will contact the User to recover the gains. The User shall be cooperative, otherwise, we will take actions, including, but not limited to restrictions on account transactions, freezing assets in the User’s account, commence legal action against the User in a court with right of jurisdiction and other recourse measures. In the event the User is not cooperative, the User shall bear all costs incurred as a result of any action taken by the relevant Parties, including legal fees. Besides that, Users shall take full responsibility in ensuring the account information is verified before making the transfer so that digital assets or fiat currencies are transferred into the correct account. If a User transfers in digital assets or fiat currencies in a wrong account and such account is controlled by us, we shall have the sole discretion to reject such transfer and return to the User the relevant amount of digital assets or fiat currencies (after deduction of applicable handling fees).
3.3 Internet Transmission Risk: You acknowledge that the relevant Parties shall not be responsible for any communication failures, disruptions, errors, distortions, or delays you may experience when trading via the platform, howsoever caused. Also, there are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections.
4. YOUR OKCOIN ACCOUNT
4.1 Account Registration and Identity Verification: In order to use any of the Service, you must first register by providing your email or mobile phone number, full name and other personal information to verify your identity, along with affirming these Terms. You agree to provide us accurate and authentic information we request at registration and on an ongoing basis for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID or evidence of residency such as a lease or utility bill. If any such information changes, it is your obligation to provide to us such update information as soon as possible.
4.2 Protecting Your Account: You agree to not enable anyone to use or direct your account, and to update the relevant Parties of any information change or if your account has been compromised. You are responsible for keeping, protecting and safeguarding any keys, certificates, passwords, access codes, user IDs or other credentials and login information (collectively "Passwords") that have been provided to you or that are generated in connection with your use of the Service. If you lose your Passwords, you may not be able to access your account. You agree to notify the relevant Parties immediately of any unauthorized use of your Passwords. The relevant Parties will not be responsible for any liabilities, losses, or damages arising out of the unauthorized use of your Passwords. Due to the relevant Parties’ nature of being an online trading platform, and to avoid potential security risks, the login password, administration password and any other passwords shall not be set as the same. Relevant responsibilities in relation to protecting User account shall be borne by the Users. Once the user is registered, and becomes a User, he or she will get the username (user mailbox) and password, and is responsible for all activities and events with this username and password after entering the Site, and bear all the legal liability directly or indirectly caused by the language and behaviors through using of this username.
4.3 Password Recovery: Users who lose their passwords can reset it after being verified through their registered email addresses or phone numbers. You shall immediately report to the relevant Parties if any unauthorized operations or security breaches are found.
4.4 Account Closure: You may close your account at any time. Closing an account will not affect any rights and obligations incurred prior to the date of account closure. You may be required to either cancel or complete all open orders and, in accordance with the provisions of these Terms, provide transfer instructions of where to transfer any fiat currency and/or digital assets then remaining in your account. You are responsible for any fees, costs, expenses, charges, or obligations (including, but not limited to, attorney and court fees or transfer costs of fiat currency or digital assets) associated with the closing of your account. In the event that the costs of closing of your account exceed the value in your account, you will be responsible for reimbursing us. You are prohibited to close any of your accounts to avoid paying any fees otherwise due or to avoid any examination related to our AML Program.
4.5 Account Suspension and Investigation: You agree and acknowledge that the relevant Parties have the right at any moment to suspend your account and any account for which you are a representative or authorized signatory, etc in their sole discretion. Also, you agree that the Parties can freeze/lock the funds and assets in all such accounts, and suspend your access to the Site until a decision has been made, if we suspect, in our sole discretion, any such accounts to be in violation of:
Any of these Terms;
Any applicable laws or regulations;
The Parties’ AML Program;
Regulatory authority requirement, court order, valid subpoena;
The account is, or is related to any account that is, subject to any pending litigation, investigation, or governmental proceeding;
The account has a balance that needs to be reconciled for any reason;
If the Parties believe that an unauthorized person is attempting to gain access to your account;
If the Parties believe that you are using your credentials or other account information in an unauthorized or inappropriate manner;
The account has not been accessed in over one year.
You agree and acknowledge that we have the right to immediately investigate your account and any related account, if we suspect, in our sole discretion, that any such account has committed a conduct violation or violation of applicable laws or regulations.
4.6 Account Termination: You agree and acknowledge that we have the right to terminate any account at any time and for any reason in our sole discretion. You further agree and understand that we have the right to take any and all necessary and appropriate actions pursuant to these Terms and/or applicable laws and Regulations. If your account is terminated, we will return your funds, less the value of any trading fee discounts, rebates, costs, expense and/or damages that we are entitled to pursuant to these Terms. If your account is no longer subject to an investigation, court order, or subpoena, you authorize us to return your funds (less any trading fee discounts, rebates, costs, expense and/or damages to which we are entitled) to any bank account linked to your account, unless otherwise required by applicable law. If there is any digital asset remaining in your account, you agree to provide us with a digital asset address upon receiving written notice, so that we can return the remaining digital assets to you.
5. USERS’ RIGHT AND LIMITATIONS TO USE
We grant you a limited, nonexclusive, nontransferable permit, subject to these Terms, to access and use the relevant Parties’ Site and Service, solely for approved purposes as permitted by the relevant Parties. You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the relevant Parties’ source code or similar proprietary or confidential data or other similar information, without our prior express written consent.
You may not use the Site for any unlawful purpose.
You agree that:
All rights, title and interest in the Service and associated software, website and technology, including all intellectual property rights therein, are and shall remain with the relevant Parties;
No right or interest in the Service is conveyed other than the limited licenses granted herein;
The Service is protected by the copyright and other intellectual property laws;
All rights not expressly granted in these Terms are reserved.
The applicable Party has the right to inquire, freeze or deduct the items and accounts of the User in according to the requirements of any applicable judicial organizations, administrative organizations and military organizations, including but not limited to public security organizations, procuratorial organizations, courts, customs, tax authorities and so on.
6. USER OBLIGATIONS
6.1 Users shall not register multiple accounts for any purpose.
6.2 Users may not use another User’s accounts.
6.3 Users are prohibited in any form from utilizing the Site to engage in illegal activities. Without the authorization or permission of the relevant Parties, the User shall not use any of the commercial activities in the name of this Site or in any form of the Site as a place, platform or medium for engaging in commercial activities.
6.4 Users shall comply with all laws and regulations, and bear the responsibility and legal consequences of any their own actions when using the Site and Services. In addition, Users shall not infringe the legitimate rights and interests of any third party. Additionally, if the relevant Parties therefore suffered losses as a result of breach of these Terms by the User, the relevant Parties shall have the right to recover from the User via legal actions or other means whether pursuant to these Terms or otherwise.
6.5 If a User violates any obligation above, the relevant Parties have the right to take all necessary measures directly, including but not limited to deleting the content posted by the User, canceling the customer star rating and honor, freezing the User’s digital asset, pausing or seizing the User’s account and illegal gains, and prosecution.
7. FEES
7.1 The relevant Parties have the right to set user service charges according to the these Terms. The relevant Parties also have the right to formulate and adjust the service charges, and set specific service charges to the User to use the relevant Parties’ services.
7.2 Unless otherwise stated or agreed upon, the User agrees that the relevant Parties have the right to deduct the above-mentioned service charges directly from the assets of the User account.
7.3 The current service charges information is available here: https://www.okcoin.com/pages/products/fees.html
7.4 At the relevant Parties’ sole discretion, regional, or country specific pricing may vary based on User’s residence, location, or nationality.
7.5 If you fail to pay the applicable fees (including, but not limited to, service charges) in full or on time, the Parties reserve the right to interrupt, suspend or terminate your account.
8. CHANGE, INTERRUPTION, TERMINATION, AND DISCONTINUANCE OF SERVICES
8.1 Service Change and Interruption: the relevant Parties may change the Service and/or may also interrupt, suspend or terminate the Service at anytime with or without prior notice in their sole discretion.
8.2 Service Discontinuance and Termination: the relevant Parties reserve the right, in their sole discretion, to discontinue or terminate the services provided to you without notice, temporarily or permanently, including, but not limited to, the following cases:
If the personal information you have provided is not true, complete, accurate or inconsistent with the information at the time of registration and you have failed to provide reasonable proof (please remember, according to the laws or regulations you should submit true complete and accurate information);
If you violate the relevant laws and regulations or this agreement;
If required by any provisions of the laws and regulations, as well as the requirements of relevant government authorities;
For security reasons or other necessary circumstances.
9. COMPLIANCE WITH YOUR LOCAL LAWS AND TAXES
It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Service, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Additionally, you agree to comply with all relevant laws and regulations. Regarding the prevention of terrorist financing and anti-money laundering, the relevant Parties will work with local authorities. When using our Service, you represent and undertake that your actions are in a legal and proper manner and your sources of digital assets and fiat currency are not derived from illegal activities. If any of the relevant Parties reasonably believe your source of digital assets and fiat currency are derived from illegal activities, the relevant Parties may discretionarily or in coordination with local law enforcement authorities seize, restrict or close-out your account, fiat currency and digital assets.
10. PRIVACY POLICY
Please refer to our Privacy Policy for information about how we collect, use, and share your information.
11. INDEMNITY
You shall indemnify the relevant Parties and our agents (if any), employees, officers, directors, affiliates, subsidiaries and successors, and hold them harmless from and against all third-party claims except those resulting solely from the Parties’ breach of these Terms. If you are obligated to indemnify us, the Parties will have the right, in their sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.
12. DISCLAIMER
12.1 Network Service Provider: the relevant Parties, as a third party platform for "network service provider", do not guarantee the information and Services provided in this the Site can fully meet the needs of users. The relevant Parties shall not be liable for errors, insults, defamation, nonfeasance, obscenity, pornography, or blasphemy that may occur during the process of acceptance of the relevant Parties’ web service.
12.2 Service Interruption: Based on the special nature of the internet, the relevant Parties do not guarantee that the service will not be interrupted; the timeliness and security of the service are also not guaranteed, and the relevant Parties do not bear the responsibility mentioned in this paragraph.
12.3 Safety of the Network: the relevant Parties try to provide a safety network environment to the Users; however, the relevant Parties do not guarantee that the Site or its Servers are free of viruses or other potentially harmful factors; therefore, the user should use the industry’s recognized software to check and kill any virus in the files downloaded from the Site.
12.4 User Information: the relevant Parties are not responsible for the failure of preservation, modification, deletion or storage of the information provided by the User. Nor will the relevant Parties be liable for the typographical errors, negligence, etc. not intentionally caused by the relevant Parties. The relevant Parties have the right but no obligation to improve or correct any omission, error of any part of this Site.
12.5 Accuracy, Completeness, and Reliability of the Site: Unless the relevant Parties have expressly agreed in writing, the relevant Parties shall not guarantee the accuracy, completeness, reliability of any content, such as, but not limited to, advertising from the platform in any manner (including but not limited to, containing, connecting, by way of, or downloading) from the Site; the relevant Parties are not responsible for any products, services, information or materials purchased or obtained by the User according to the content information on this Site. The User bears the risk of using the content of this Site.
12.6 User Opinion: The comments published by Users, are the Users personal point of view. It does not mean that this Site agrees with their views or confirms their description. Neither the relevant Parties or this Site shall bear any legal responsibility caused by any User comments.
12.7 Announcements: Notice shall be made by the relevant Parties through a formal page announcement, station letter, e-mail, customer service phone call, SMS or regular mail delivery. The relevant Parties do not accept any legal responsibility for any results, promotion or information which are delivered by channels other than those mentioned in this paragraph.
12.8 Charges, Commissions, Transactions and Other Fees: the relevant Parties have the right to adjust the charges, commission, transaction and other fees according to market conditions and these Terms, and terminate any promotional efforts at any time.
13. APPLICABLE LAW AND VENUE
These Terms and your use of the Service will be governed by and construed in accordance with the laws and regulations of the jurisdiction where the applicable Party (being the entity servicing you based on where you are resided) is incorporated. You agree that any action at law pursued by you and arising out of or relating to these Terms not subject to arbitration (as set forth below) will be filed only in the courts where the applicable Party is located (Hong Kong, Singapore, Malta or California, US) and you hereby irrevocably and unconditionally consent and submit to the exclusive jurisdiction of such court over any suit, action or proceeding arising out of these Terms.
14. ARBITRATION
You and the applicable Parties agree to arbitrate any dispute arising from these Terms or relating to the Service, except that you and the applicable Parties are not required to arbitrate any dispute in which either party seeks other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. You and the Parties agree that you will notify each other of any dispute within 30 days of when it arises, that you will attempt informal resolution prior to any demand for arbitration in jurisdiction where the applicable Party (being the entity servicing you based on where you are resided) is incorporated and that arbitration will be conducted confidentially by a single arbitrator. You and the applicable Party also agree that the courts in jurisdiction where the applicable Party (being the entity servicing you based on where you are resided) is incorporated have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. In any arbitration, the parties will not seek discovery from each other, and the arbitrator shall not allow parties to engage in discovery; rather, each party shall disclose the evidence supporting their positions at some mutually agreeable time and date prior to the final hearing. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Neither you nor the applicable Party will participate in a class action or class-wide arbitration for any claims covered by these Terms. You also agree not to participate in claims brought in by a private attorney general or representative capacity, or consolidated claims involving another person, if any Party is a party to the proceeding. If the prohibition against class actions and other claims brought on behalf of third parties contained above is found to be unenforceable, then that language shall be deemed to have been dropped from these Terms and the remaining obligations relating to arbitration shall continue in full force and effect.
15. SEPARABILITY, COMPLAINTS AND MISCELLANEOUS
15.1 Separability: If any provision of this Agreement is deemed to be unlawful, invalid or unenforceable for any reason, such provision shall be deemed to be divisible and shall not affect the legal effect of any other provision.
15.2 Complaints: If you have any complaints, feedback, or questions, please contact our Customer Service at [email protected]. When you contact us, please provide us with your name and email address and any other information we may need to identify you, and the transaction on which you have feedback, questions, or complaints.
15.3 Miscellaneous: These Terms set forth the complete understanding of the Parties with respect to the subject matter hereof and supersedes all prior understandings and communications relating thereto. No term or condition of any other document provided to the Parties which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon the Parties. You represent, warrant and undertake that all information disclosed to the relevant Parties in connection with these Terms are true, accurate, and complete.
15.4 Language: This “Terms of Service” may be posted in different languages. If there are any discrepancies, the English version shall prevail.
View ArticleAfter you sign up on OKCoin, you will need to choose an account type. We have two types: Individual and Corporate. Once account type is chosen, it cannot be changed anymore.
Choose Individual account type and then you will be asked to submit Personal Information to verify your account.
To complete the level 1 verification, you need to firstly verify your nationality, full name and ID number, please make sure your information is correct.You will be held solely responsible for any consequences caused by providing false information.
To complete the level 2 verification, you need to submit ID document and info. In order to avoid delays in the process of verification of your account, please ensure that the documents you submitted are in line with the following requirements:
Please submit ID document with a clear and effective date;
The document image is required to be complete and clear (the watermark is allowed);
The document image is required with high resolution (picture resolution should not be less than 30dpi);
Only JPG, JPEG, PNG, and PDF formats are supported, with a maximum of 3M.
View ArticleAs the Ethereum (ETH) Muir Glacier Upgrade is complete, the deposit and withdrawal of ETH and all ERC-20 tokens has resumed as of 2:00 AM January 2, 2020 (PST).
We apologize for any inconvenience this may have caused.
As always, we wish you a pleasant trading experience at OKCoin and will continue to provide you with stable and reliable products and services!
Regards,
OKCoin
January 2, 2020
View ArticleAreas of Operations Internationally
OKCoin serves all the countries in the world, except the following countries: Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador, and Kyrgyzstan.
Areas of Operations in the United States
State
Abbreviation
Services Offered
Alabama
AL
Token-to-token &Fiat (USD)-to-token
Alaska
AK
Coming soon
Arizona
AZ
Token-to-token &Fiat (USD)-to-token
Arkansas
AR
Token-to-token &Fiat (USD)-to-token
California
CA
Token-to-token &Fiat (USD)-to-token
Colorado
CO
Token-to-token &Fiat (USD)-to-token
Connecticut
CT
Token-to-token &Fiat (USD)-to-token
Delaware
DE
Coming soon
Florida
FL
Coming soon
Georgia
GA
Token-to-token &Fiat (USD)-to-token
Hawaii
HI
Coming soon
Idaho
ID
Token-to-token & Fiat (USD)-to-token
Illinois
IL
Token-to-token &Fiat (USD)-to-token
Indiana
IN
Token-to-token
Iowa
IA
Token-to-token &Fiat (USD)-to-token
Kansas
KS
Token-to-token
Kentucky
KY
Token-to-token &Fiat (USD)-to-token
Louisiana
LA
Token-to-token
Maine
ME
Token-to-token &Fiat (USD)-to-token
Maryland
MD
Token-to-token &Fiat (USD)-to-token
Massachusetts
MA
Token-to-token
Michigan
MI
Token-to-token
Minnesota
MN
Token-to-token
Mississippi
MS
Token-to-token &Fiat (USD)-to-token
Missouri
MO
Token-to-token &Fiat (USD)-to-token
Montana
MT
Token-to-token &Fiat (USD)-to-token
Nebraska
NE
Token-to-token
Nevada
NV
Token-to-token
New Hampshire
NH
Token-to-token &Fiat (USD)-to-token
New Jersey
NJ
Token-to-token
New Mexico
NM
Token-to-token &Fiat (USD)-to-token
New York
NY
Coming soon
North Carolina
NC
Coming soon
North Dakota
ND
Token-to-token &Fiat (USD)-to-token
Ohio
OH
Coming soon
Oklahoma
OK
Token-to-token
Oregon
OR
Token-to-token &Fiat (USD)-to-token
Pennsylvania
PA
Token-to-token &Fiat (USD)-to-token
Rhode Island
RI
Token-to-token &Fiat (USD)-to-token
South Carolina
SC
Token-to-token
South Dakota
SD
Token-to-token &Fiat (USD)-to-token
Tennessee
TN
Token-to-token
Texas
TX
Token-to-token
Utah
UT
Token-to-token &Fiat (USD)-to-token
Vermont
VT
Coming soon
Virginia
VA
Token-to-token
Washington
WA
Token-to-token &Fiat (USD)-to-token
Washington DC
DC
Coming soon
West Virginia
WV
Coming soon
Wisconsin
WI
Token-to-token &Fiat (USD)-to-token
Wyoming
WY
Token-to-token
View ArticleLast Updated: Dec 9, 2019
1. INTRODUCTION
We will respond to law enforcement requests from authorized law enforcement officials with proof of authority. This Law Enforcement Request Guide explains how authorized law enforcement officials can engage and contact us to request customer information.
To facilitate the processing, we require the requests be addressed to the specific legal entity(ies). In the event that the relevant agency is not sure which entity the request shall be addressed to, please list all relevant legal entities in the legal process documents, with proper Mutual Legal Assistance Treaty related documents if cross-border law enforcement is involved. As disclosed in our Terms of Services, services of okcoin.com is being provided by the following entities, depending on the user’s residency:
OKCoin USA Inc., which is a U.S. corporation, if you are a resident in a U.S. State and permitted to transfer-in or withdrawal fiat and digital assets to commence digital asset trading;
OKCoin USA Digital Assets Inc., which is a U.S. corporation, if you are a resident in a U.S. State and permitted to transfer-in or withdrawal only digital assets to commence digital asset trading;
OKCoin Europe LTD, which is a Malta corporation, if you are a resident of a country in the European Union;
OKCoin Pte Ltd, which is a Singapore corporation, if you are a resident of Singapore or Brunei who registered as a User on or after 15 October 2019; or
OKCoin Technology Company Limited, which is a Hong Kong corporation, if you are a resident of none of the above countries.
2. FOR U.S. LAW ENFORCEMENT
OKCoin USA Inc. and OKCoin USA Digital Assets Inc. process requests related to U.S. law enforcement, in accordance with our terms of service, our privacy policy, and U.S. laws. Please include appropriate official legal process documents when submitting the request, which includes following:
Subpoena: it must be issued in connection with an official criminal investigation for disclosure of the customer information records defined in 18 U.S.C. 2703(c)(2).
Court order: it must be issued under 18 U.S.C. 2703(d), disclosure of the customer information records is defined in the same U.S.C.
Search warrant: it must be issued under the procedures described in the Federal Rules of Criminal Procedure or equivalent state warrant procedures upon a showing of probable cause for the disclosure of any stored content.
Please contact the following email address for U.S. law enforcement requests: [email protected]
3. FOR EUROPEAN LAW ENFORCEMENT
OKCoin Europe LTD is responsible for processing requests related to European law enforcement in accordance with our terms of service, our privacy policy, and applicable law.
Please contact the following email address for European law enforcement requests:
4. FOR SINGAPOREAN LAW ENFORCEMENT
OKCoin Pte Ltd is responsible for processing requests related to Singaporean law enforcement in accordance with our terms of service, our privacy policy, and applicable law.
Please contact the following email address for Singaporean law enforcement requests:
5. FOR ALL OTHER LAW ENFORCEMENT
OKCoin Technology Company Limited is responsible for processing requests related to all other law enforcement from jurisdictions other than U.S., Europe or Singapore, in accordance with our terms of service, our privacy policy, and applicable law.
Please contact the following email address for all other enforcement requests:
6. INFORMATION REQUESTS GENERAL REQUIREMENTS
To aid the expeditious review of information requests, law enforcement officers please include at least the following information in the request email:
Name of the law enforcement authority;
Proof that the officer is authorized to request the information (proof of authority) and current position within the law enforcement organization;
Proof of identification of the officer within the law enforcement organization (e.g. badge number, internal ID number);
Email address from a government domain;
Contact information (email address, number) from the governmental organization;
The name(s) of the specific legal entity(ies) that this request is addressed to; If it is unclear which entity shall be addressed to, please include all applicable entities;
Details of the request, including:
Subpoena identifier-number in the subject line;
How we should authenticate the subpoena, such as call-back procedure;
Any public address or transaction IDs in text format or an Excel file (not PDF);
State a reasonable deadline; and
Mutual Legal Assistance Treaty request for cross-border law enforcement (if applicable).
7. EMERGENCY REQUESTS
For extremely urgent requests, such as when there is risk of death or serious physical danger to a person, please state URGENT REQUEST in the Subject Line.
View ArticleIn order to secure your assets we have to verify your identity.
1. Log in and click on the "Account" button
2. On your account page, click on "Verification", fill your country, name, passport number to finish Level 1 verification.
Level 1 verification allows you to deposit token, or withdraw token value less then 2 BTC.
Please note that: Verification information cannot be edited once verified. Please fill in correct information.
3. If you want to withdraw token value more then 2 BTC, please finish Level 2 verification, which include your Passport photo andAddress Proof.
If you want to withdraw token value more then 50 BTC, please contact our business agent.
4. Identity verification finished.
View ArticleRecently OKCoin completed the pre-upgrade technical support for the Bitcoin SV (BSV) Genesis Upgrade. As a result of the upgrade, the following changes have been made:
1. BSV deposit addresses have been changed from a p2sh multi-signature address to a p2pkh single-signature address.
2. BSV withdrawals will now only support p2pkh single-signature addresses. Please use the p2pkh single-signature address that has been created.
Regards,
OKCoin
January 17, 2020
View Article1. After logging in, you now are on Level 1.
Note: for Level 1, we do not support any trading at the moment!
If you want to apply for Level 2 verification from anywhere on the site, you can click “KYC verification” inside the top right drop-down menu, and then click on the “KYC Level 2” tag. Choose the Identification document type that is easy for you to provide. Upload the qualified documents and fill in the basic information in English.
Note: Please ensure the consistency of the information you filled in with your documents.
1.1 For profile part, please input your surname and given name, choose your nationality and the country of residence. Then click “next”.
1.2 For KYC verification part, please select the type of identification document, upload docs and input basic information. And then click “Next”.
Notice: Please ensure the consistency of the information you filled in with your documents. The documents should be in JPG / JPEG / PNG / PDF format. Please make sure that the image you uploaded is clear and file size is under 5MB.
1.3 For address proof part, please fill in your address information in the blanks and upload qualified address proof.
Note: Please provide your current living address information in English. For the address proof type, you can choose one of the mentioned documents types shown at the bottom of this page. In order to save your time on verification, please make sure all the information filled in and documents provided are correct and qualified.
2. After checking all the information, please click the “Submit” button. Your application will be verified ASAP.
View ArticleAs the Ethereum (ETH) Istanbul Upgrade is complete, the deposit and withdrawal of ETH and all ERC-20 tokens has resumed as of 3:00 PM December 8, 2019 (PST).
We apologize for any inconvenience this may have caused.
As always, we wish you a pleasant trading experience at OKCoin and will continue to provide you with stable and reliable products and services!
Regards,
OKCoin
Dec 8, 2019
View ArticleOKCoin will support the Ethereum Classic (ETC) Agharta hardfork scheduled for block number 9,573,000, which is estimated to occur at 2:00 AM PST on January 12, 2020. In preparation of the hardfork, deposits and withdrawals of ETC will be temporarily suspended from 7:00 PM PST on January 11, 2020 until the hardfork is complete.
To ensure the safety of your assets, we advise that you do not deposit and/or withdraw your ETC during the hardfork. Please note that spot trading will not be affected.
Details:
1. Temporary Suspension of ETC Deposits and Withdrawals:
Services will be suspended on 7:00 PM PST on January 11, 2020 until the hardfork is complete.
2. Resumption of ETC Deposits and Withdrawals:
Services will be resumed when the ETC mainnet is stable. Please refer to future announcements on the resumption time.
3. This hard fork is only a technical upgrade and will not create a fork token.
For more information on the ETC Agharta hardfork, please see the Ethereum Classic blog.
Thank you for your continued support and we assure you our best services at all times.
Regards,
OKCoin
January 9, 2020 (PST)
View ArticleAreas of Operations
Dear Valued Customers,
Our offered trading services continues to grow, as we now offer fiat-to-token and token-to-token trading in Illinois.
For a complete list of where we offer our services, please refer to our page.
OKCoin
January 10, 2019
View ArticleKYC verification is required to fully access the features of OKCoin International. You may apply for individual or corporate account, but please note that all information submitted cannot be modified. Please make sure that you provide accurate information.
Individual Account
KYC Level 1 requires only basic information, including nationality, name and passport ID. If you provide any inaccurate or fake information, you will have to assume all the consequences.
KYC Level 2 requires proofs of your identification. Before performing the verification, please prepare the following:
Image of a valid international passport with a clearly visible expiration date
The photo on your passport must be clearly visible
The resolution of the image must be greater than 30dpi
The image must be uploaded in the file format: jpg, jpeg, png, or pdf. The maximum file size is 3MB.
Proof of address: please upload your driver's license or ID card. But if your address is not printed on the mentioned documents, please upload the bills which include your residential address and are issued within 3 months.
Corporate Account
A corporate account allows you to trade under the name of a company (in countries or regions we serve). It offers the same benefits as an individual account. You can authorize up to four nominated individuals to place trades and manage the account on behalf of the company.
Please register a new account at OKCoin first. Then, go to “Settings > Verification”, and choose “Corporate Verification”. The review usually takes 3-5 working days.
You will have to provide the information of your company, such as:
Country of registration
Company name
Former company name (if applicable)
Company name (local language)
Registration number
Date of incorporation, address
Shareholders and directors’ information
And information including business registration, company memorandum, annual report, board resolutions and more
View Article1. Users can open either a personal or institutional account.
Individual users should click "Open Personal Account" while corporate users who expect to have multiple individuals access the account should click "Open Institutional Account".
here
2. Users have the option to sign up with either an email or phone number.
After entering either an email address or phone number, click the "Get Code" button, and enter the code in either the "Email code" or "SMS code" field.
If you have a referral code, please enter it into the "Referral Code" field.
3. After sign-up, users will be asked to verify their account.
Please click for more information on account verification.
OKCoin
June 18, 2019
View ArticleOKCoin.com launches Token Lending Service for users to perform margin trading. Currently such Token Lending Service is NOT available to persons who have their registered office or place of residence in (i) the United States or (ii) any other restricted territories which at this time include Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador, and Kyrgyzstan, due to compliance or regulatory requirements.
The maximum lending amount is decided based on factors such as leverage ratio and the user tier, with a ratio ranges from 0.5 to 3.
OKCoin.com will provide risk management service to Token Lending Service users' leveraged trading for monitoring and managing risk.
As a Token Lending Service user, by using the leverage tool, you agree to authorize OKCoin.com to perform risk management actions if your leverage account is at risk (total asset/debt110\%), including but not limited to selling your positions.
User must comply with the "OKCoin Token Lending and Leverage Trading Services Regulations"
User must comply with related government laws and confirm all trading funds are from legal and legitimate sources.
User should fully understand leverage and digital assets trading involves high risk and take into consideration their level of experience. As a borrower, you may sustain a total loss of digital Assets or owe digital assets beyond what you have deposited to your account. The high volatility and substantial risk of illiquidity in markets means that you may not always be able to liquidate your position.
User agrees that all investments performed in OKCoin.com are voluntary, and accepts the consequences of their investments decisions unconditionally.
User agrees to pay for the related service fees of token lending and leveraged trading according to the requirements in the agreement with OKCoin.com.
User agrees that OKCoin.com reserves the right to perform risk management actions including but not limited to selling positions, forced liquidation and auto-repayment, and accepts the final outcome unconditionally.
OKCoin reserves the right to suspend and end leverage trading service at any time.
OKCoin
June 18, 2019
View ArticleOKCoin will support the Ethereum (ETH) Muir Glacier upgrade scheduled at block number 9,200,000, which is predicted to occur onWednesday, January 1, 2020 (PST). In preparation of the upgrade, deposits and withdrawals of ETH and all ERC20 tokens will be temporarily suspended from 7:00 PM January 1, 2020 PST until the upgrade is complete.
To ensure the safety of your assets, we advise that you do not deposit and/or withdraw your ETH and ERC20 tokens during the upgrade. Please note that you should deposit margins in advance to avoid the risks involved during margin trading. Please note that trading will not be affected.
Details:
Temporary Suspension of ETH and ERC20 Deposits and Withdrawals:
Services will be suspended on 7:00 PM January 1, 2020 PST until the upgrade is complete.
Resumption of ETH and ERC20 Deposits and Withdrawals:
Services will be resumed when the ETH mainnet is stable. Please refer to future announcements on the resumption time.
This hard fork is only a technical upgrade and will not create a fork token.
For more information on the Muir Glacier upgrade, please see this Ethereum blog post.
Thank you for your continued support and we assure you our best services at all times.
Regards,
OKCoin
December 31, 2019 PST
View ArticleAreas of Operations
Dear Valued Customers,
Our offered trading services continues to grow, as we now offer fiat-to-token and token-to-token trading in Idaho and Maine.
For a complete list of where we offer our services, please refer to our page.
OKCoin
December 31, 2019
View ArticleUnited States
State
Abbreviation
Services Offered
License
Issuer
Alabama
AL
Token-to-token & Fiat (USD)-to-token
Sale of checks Money Transmission License
License # MT619 (NMLS #1767779)
Alabama Securities Commission
401 Adams Avenue, Suite 280
Montgomery, AL 36104
Alaska
AK
Coming soon
Arizona
AZ
Token-to-token & Fiat (USD)-to-token
Money Transmission License
License #1005050 (NMLS #1767779)
Arizona Department of Financial Institutions
Arkansas
AR
Token-to-token & Fiat (USD)-to-token
Money Transmission License
License #116440 (NMLS #1767779)
Arkansas Securities Department
Heritage West Building, Suite 300
201 East Markham Street
Little Rock, AR 72201-1692
California
CA
Token-to-token & Fiat (USD)-to-token
-
-
Colorado
CO
Token-to-token & Fiat (USD)-to-token
-
-
Connecticut
CT
Token-to-token & Fiat (USD)-to-token
Connecticut Money Transmission License
License # MT-1767779 (NMLS #1767779)
Agency: Connecticut Department of Banking
260 Constitution Plaza
Hartford, CT 06103-1800
Delaware
DE
Coming soon
Florida
FL
Coming soon
Georgia
GA
Token-to-token & Fiat (USD)-to-token
Georgia Seller of Payment Instruments License
License #64756 (NMLS #1767779)
Georgia Department of Banking and Finance:
Money Services Businesses
2990 Brandywine Road, Suite 200
Atlanta, GA 30341-5565
Hawaii
HI
Coming soon
Idaho
ID
Token-to-token & Fiat (USD)-to-token
Money Transmission License
License #MTL-251 (NMLS #1767779)
Idaho Department of Finance
Securities Bureau
800 Park Blvd., Suite 200
Boise, ID 83712
Illinois
IL
Token-to-token
Indiana
IN
Token-to-token
Iowa
IA
Token-to-token & Fiat (USD)-to-token
Money Service License
License #2019-0023 (NMLS #1767779)
Iowa Division of Banking
200 East Grand Avenue, Suite 300
Des Moines, IA 50309-1827
Kansas
KS
Token-to-token
Kentucky
KY
Token-to-token & Fiat (USD)-to-token
-
-
Louisiana
LA
Token-to-token
Maine
ME
Token-to-token & Fiat (USD)-to-token
Money Transmission License
Dept. of Professional & Financial Regulation
Bureau of Consumer Credit Protection
76 Northern Ave
Gardiner, ME 04345
Maryland
MD
Token-to-token & Fiat (USD)-to-token
-
-
Massachusetts
MA
Token-to-token
Michigan
MI
Token-to-token
Minnesota
MN
Token-to-token
Mississippi
MS
Token-to-token & Fiat (USD)-to-token
-
-
Missouri
MO
Token-to-token & Fiat (USD)-to-token
-
-
Montana
MT
Token-to-token & Fiat (USD)-to-token
-
-
Nebraska
NE
Token-to-token
Nevada
NV
Token-to-token
New Hampshire
NH
Token-to-token & Fiat (USD)-to-token
Money Transmission License
License #23134-MT (NMLS #1767779)
State of NH Banking Department
Consumer Credit Division
53 Regional Drive, Suite 200
Concord, NH 03301
New Jersey
NJ
Token-to-token
New Mexico
NM
Token-to-token & Fiat (USD)-to-token
Money Transmission License
Financial Institutions Division
3rd Floor, Toney Anaya Building
2550 Cerrilos Road
Santa Fe, New Mexico 87504
New York
NY
Coming soon
North Carolina
NC
Coming soon
North Dakota
ND
Token-to-token & Fiat (USD)-to-token
North Dakota Money Transmitter License
License # MT103502 (NMLS #1767779)
North Dakota Department of Financial Institutions
2000 Schafer Street, Suite G
Bismark, ND 58501
Ohio
OH
Coming soon
Oklahoma
OK
Token-to-token
Oregon
OR
Token-to-token & Fiat (USD)-to-token
Money Transmitter License
License #30243 (NMLS #1767779)
Oregon Division of Financial Regulation
Licensing Section
350 Winter Street NE Room 410
Salem, OR 97301
Pennsylvania
PA
Token-to-token & Fiat (USD)-to-token
-
-
Rhode Island
RI
Token-to-token & Fiat (USD)-to-token
Rhode Island Electronic Money Transfer
License # 20193833MT (NMLS #1767779)
Department of Business Regulation
1511 Pontiac Ave
Cranston, RI 02920
South Carolina
SC
Token-to-token
South Dakota
SD
Token-to-token & Fiat (USD)-to-token
South Dakota Money Transmitter License
License # MT.2178 (NMLS #1767779)
South Dakota Department of Labor and Regulation
Division of Banking
1601 N. Harrison Avenue, Suite 1
Pierre, South Dakota 57501
Tennessee
TN
Token-to-token
Texas
TX
Token-to-token
Utah
UT
Token-to-token & Fiat (USD)-to-token
-
-
Vermont
VT
Coming soon
Virginia
VA
Token-to-token
Washington
WA
Token-to-token & Fiat (USD)-to-token
Washington Money Transmitter (Includes Currency Exchange)
License # 550-MT-119878 (NMLS #1767779)
State of Washington - Department of Financial Institutions
Division of Consumer Services
150 Israel Road, S.W.
Tumwater, WA 98501
West Virginia
WV
Coming soon
Wisconsin
WI
Token-to-token & Fiat (USD)-to-token
-
-
Wyoming
WY
Token-to-token
Europe
Country
Abbreviation
Services Offered
License
Issuer
Malta
MT
Token-to-token & Fiat (USD, EUR)-to-token
OKCoin Europe LTD operates a VFA Exchange in Malta with a transitory provision in accordance with Article 62 of the Virtual Financial Assets Act (‘the Act’), Reference No. 870.
Malta (MFSA)
View ArticleUpdated December 29, 2019
Dear valued customers,
Please note the 2019 Bank Holidays that may impact USD and EUR deposits and withdrawals. Deposits and withdrawals will be processed on the next working day.
Date
Currency
August 29, 2019
EUR
September 2, 2019
USD
October 14, 2019
USD
November 1, 2019
EUR
November 11, 2019
USD
November 28, 2019
USD
December 24, 2019
EUR
December 25, 2019
USD, EUR
December 26, 2019
EUR
December 31, 2019
EUR
January 1, 2020
USD, EUR
We apologize for any inconvenience this may cause. As local country holidays may affect your own bank's operations, please contact your bank if you have any questions
Thank you for your continued support as we continue to provide you with stable and reliable products and services.
OKCoin
View Article1. Click "Forgot Password?" on the Login page.
2. Enter the account username (either email address or phone number) and verify the alphanumeric text. Then click "Next".
3. Enter and confirm a new account password.
For further help, please contact.
Last Updated: June 18, 2019
View Article1. Algo Order
Algo orders are sets of instructions for placing trades according to predetermined logic. The logic of all available algo order types is explained in this document. Order submission is carried out according to user-defined parameters. OKCoin does not manually interfere with the execution of algo orders.
Some algo trading tools allow users to enter trade information in advance, and save execution time when predetermined market conditions are in place. Some traders use algorithmic execution tools to help them stick to their trading strategy, and avoid poor executions.
Algo orders will not be executed if pre-set conditions are not met. Also, our system does not place a hold on user account funds when an algo order is made. However, triggered algo orders will be canceled if the account does not have sufficient funds for its execution.
By using our algorithmic trading tools, you understand and agree to our Algo Trading Agreement.
2. Stop-Limit
Stop-Limit is a set of instructions for placing a trade order at predefined parameters. When the latest market price reaches the trigger price, the system will automatically place order according to the pre-set price and amount.
When a Stop-Limit is triggered, if the user's account balance is lower than the order amount, the system will automatically place order according to the actual balance. If the user's account balance is lower than the minimum trading amount, order cannot be placed.
Case 1 (Take-profit):
The user buys BTC at USDT 6,600 and believes that it will drop when it reaches USDT 6,800, he can open a Stop-Limit order at USDT 6,800. When the price reaches USDT 6,800, the order will be triggered. If the user has 8 BTC balance, which is lower than the order amount (10 BTC), the system will automatically post an order of 8 BTC to the market. If the user's balance is 0.0001 BTC and the minimum trading amount is 0.001 BTC, the order cannot be placed.
Case 2 (Stop-loss):
The user buys BTC at USDT 6,600 and believes that it will continue to drop below USDT 6,400. To avoid further loss, user can sell his order at USDT 6,400 when the price drop to USDT 6,400.
Case 3 (Take-profit):
BTC is at USDT 6,600 and the user believes that it will rebounce at USDT 6,500. In order to buy BTC at a lower cost, when it drops below USDT 6,500, buy order will be placed.
Case 4 (Stop-loss):
BTC is at USDT 6,600 and the user believes that it will continue to rise to over USDT 6,800. To avoid paying for BTC at a higher cost above USDT 6,800, when BTC rises to USDT 6,802, order will be placed as the BTC price has fulfilled the order requirement of USDT 6,800 or above.
3.Trail Order
Trail orders allow users to execute trades dependent on predefined swings in the market. When market price reaches a defined maximum (or minimum), and retraces a specified amount, a limit order is submitted (1 user-defined callback rate).
When a Trail order is triggered, if the user's account balance is lower than the order amount, the system will automatically place order according to the actual balance. If the user's account balance is lower than the minimum trading amount, order cannot be placed.
Case 1:BTC current price is 1,900 USD. The user believes the market trend remains bearish but the price will rebound later. The user would like to execute a buy order BTC when 1) the market rebound exceeds the pre-set "Callback Rate" and 2) the market price exceeds the predefined trigger price.
The user can place a trail order with the following parameters:
Assuming the market swings as follow:
BTC market price fell from 1,900 USD and reached the lowest point at 1,780 USD. And the price rebounds back to 1,799 USD. Hence the market returned 1.1\% from the dip [(1799-1780)/1780] = 1.1\%
Trail order would NOT be sent because:
Market rebound rate (which is 1.1\%) > user-defined callback rate (which is 1\%) -> condition matched.
Market Price (1799) < User-defined trigger price (1800) -> condition unmatched.
In summary, trail order would only be sent in the following conditions:
Buy Order = 1) Market lowest price < or = Trigger PriceAND 2) Market rebound > or = Callback
Sell Order = 1) Market highest price > or = Trigger PriceAND 2)Market rebound < or = Callback
4. Iceberg Order
An iceberg order is an algorithmic order type allowing users to avoid displaying a large quantity order. An iceberg order automatically breaks up a large order into multiple smaller orders. These orders will be placed on the market according to the latest best bid and ask price as well as parameters set by the user. When one of the smaller orders has completely filled, or the latest market price has deviated significantly from the price of the current order, a new order will be placed.
Case 1:A user would like to buy 1,000 BTC and does not want to impact the market, so they place an iceberg order:
The system will automatically place a slice of the order. The amount of each order slice will be 90\% - 110\% of the defined average amount. The order price will be the latest buy price*(1-price variance). Once the order completely filled, a new order will be placed.When the last market price exceeds 2*(order variance), the previous order would be cancelled and a new one will be placed.
When the amount traded equals the total order amount, the iceberg trade has been filled. When the last market price exceeds the highest buy price of 20,000 USD, the iceberg order would halt temporarily. If the price falls to 20,000 USD, the iceberg order would be begin again.
5.Time-weighted average price (TWAP)
Time-weighted average price (TWAP) is the average price of an instrument over a specified time.TWAPis a strategy that executes an order in slices and at regular intervals of time as specified by users. The purpose of TWAP is to minimize market impact.
Example 1: User would like to buy 1,000 BTC and places an order as TWAP:
The order slice limit price is determined as follows. For buy order, best bid*(1 + price variance \%), and for sell order, best ask*(1 - price variance \%).
The system references the user-defined sweep ratio to determine the size of order slices. Sliced order sizes equal the available liquidity under the price limit multiplied by the sweep ratio.
All unfilled order quantities would not be posted as pending order but would be cancelled. A new order would then be resent according to user-defined time intervals with an updated price and quantities.
In case the sliced order price reaches the max/min price limit defined by the user, the order would be sent at the max/min price as defined. The order would be automatically cancelled should there be no matched price in the market.
View ArticleTo celebrate entering a new decade, and as our way of thanking you for being an active member of the OKCoin community, we’re giving away thousands of dollars in crypto and prizes over the 20 days leading up to January 1, 2020.
How does it work?
Every day from December 12 to December 31, 2019, OKCoin will launch a new promotion at approximately 9:00 AM PT. Each promotion will run for 24 hours (unless otherwise stated) and grant crypto or other prize rewards to the lucky winners.
Where can promotion details and rules be found?
Promotion details and rules will be posted on the OKCoin blog. Check @OKCoin on Twitter to get the latest updates.
What kind of promotions are they?
The promotion activities may range from engaging with OKCoin on social media to quizzes and exchange activities.
What are the prizes?
Prizes range in value from swag bags to hardware wallets to various crypto rewards, and more. For more details on each day's promotions, check out our blog :
20 Days to 2020
15 Days to 2020
19 Days to 2020
14 Days to 2020
18 Days to 2020
13 Days to 2020
17 Days to 2020
16 Days to 2020
How are winners notified?
Winners will be notified via Twitter direct messaging (DM) within 24 hours after the promotion entry period ends. In order for us to DM, winners must be following OKCoin on Twitter. If a selected winner is not following @OKCoin, we’ll select an alternative winner.
Am I eligible to participate and how are prizes distributed?
All rewards will be distributed within 5 days of OKCoin verifying that the winner meets the requirements necessary to be eligible, unless otherwise stated in the promotion rules.
Crypto rewards are distributed via OKCoin accounts. Physical rewards will be mailed via OKCoin’s preferred method of shipment and require winners to provide a valid mailing address.
Crypto rewards distributed via OKCoin verified accounts.
Valid mailing address must be provided for physical rewards.
See the general terms and conditions for more information.
View ArticleAreas of Operations Dear Valued Customers,
Our offered trading services continues to grow, as we now offer fiat-to-token and token-to-token trading in Arizona and New Hampshire.
For a complete list of where we offer our services, please refer to our page.
OKCoin
December 18, 2019
View ArticleAs the Zcash (ZEC) Blossom Upgrade is complete, the deposit and withdrawal of ZEC has resumed as of 3:30 AM December 18, 2019 (PST).
We apologize for any inconvenience this may have caused.
As always, we wish you a pleasant trading experience at OKCoin and will continue to provide you with stable and reliable products and services!
Regards,
OKCoin
Dec 18, 2019
View Article1. After logging in, you now are on Level 1.
Note:for Level 1, we do not support any trading at the moment!
If you want to apply for Level 2 verification, please click on “Level 2” section. Choose the Identification document type that is easy for you to provide. Upload the qualified documents and fill in the basic information in English.
Note:Please ensure the consistency of the information you filled in and your documents.
1.1 For the Personal Information part, pleaseinput your surname and given name, choose yournationality and Living Country. Then click “next”.
1.2 For ID Proof part, please select the type of identification document, upload docs and input basic information. Then click “Next”.
Note: Please ensure the consistency of the information you filled in with your documents. The documents should be in JPG / JPEG / PNG format. Please make sure that the image you uploaded is clear and file size is under 5MB.
1.3 For address proof, please fill in your address information in the blanks and upload qualified address proof.
Note: Pleaseprovide your current living addressinformation in English.For the address proof type, please click the “Supported Types” shownat the bottom of this pagefor reference. In order to save your time on verification, please make sure all the information filled in and documents provided are correct and qualified.
After checking all the information, please click the “Submit” button. Your application will be verified ASAP.
View ArticleWithdrawal Conditions
To withdraw token value less than 2 BTC, you should finish Level 1 verification;
To withdraw token value more than 2 BTC, you should finish Level 2 verification;
To withdraw token value more than 50 BTC, please contact our business agent.
Token Withdrawal
On the Fund page, click "Token Withraw" on the left column.
Choose the token to be withdraw, add the withdrawal address.
Fill out the "add address", which you can edit Label as reminder of this withdrawal.
Fill-out the token withdrawal information click "Confirm withdrawal" to submit.
It takes 6 blocks confirmations for the withdrawal transaction to be completed, lasting several minutes to several hours depending to the network traffic conditions.
View ArticleLast Updated: December 16, 2019
OKCoin is committed to providing you a powerful and robust suite of APIs to optimize your trading experience. The latest version of our APIs is v3.
We provide both WebSocket and REST APIs for fast and reliable access to account and trading features, including:
WebSocket
Market data (including pricing and order book data)
Order information
Account balance details
REST
Trade execution (spot and margin)
Trade cancellation
Trade history
Market data (WebSocket is recommended)
Account balances
Initiate withdrawals and deposits (cryptocurrency only)
Cryptocurrency address management
Withdrawal and deposit history
Transfers to other OKCoin, OKEx accounts
Other account information
Click for the OKCoin API Documentation
Note: WebSocket API v1 will be terminated on July 14th, 2019. Please see here for more information https://support.okcoin.com/hc/en-us/articles/360028322232-Suspension-of-V1-WebSocket-API
Please contact our support team at [email protected] if you have any questions.
Note:The term "deposit", when shown on this page, generally means transferring-in fiat to the relevant bank account. OKCoin is not carrying out, and does not intend to carry out, any deposit-taking business.
View ArticleLast Updated: December 16, 2019
We’re thrilled to announce that users can now deposit fiat, in the form of USD, onto OKCoin via their credit or debit cards. This is available to all OKCoin users outside of the U.S., Europe, and China.
1. Log in to OKCoin.com
2. Navigate to Fiat Deposit
3. Select Credit / Debit Card Deposit tab
4. Enter theAmount that you wish to deposit
Minimum deposit amount is $50.00 USD
Deposit limit per transaction is $500.00 USD
Monthly limit per user is $1,000.00 USD
5. You will be navigated to the secure payment checkout page provided by our partner Simplex. Fill in your details such as billing address and credit card information.
6. The transaction is approved. Your fund is deposited into your Funding Account!
Happy Trading!
Note:The term "deposit", when shown on this page, generally means transferring-in fiat to the relevant bank account. OKCoin is not carrying out, and does not intend to carry out, any deposit-taking business.
View ArticleLast Updated: December 16, 2019
To Deposit or Withdraw USD
Note:The term "deposit", when shown on this page, generally means transferring-in fiat to the relevant bank account. OKCoin is not carrying out, and does not intend to carry out, any deposit-taking business.
View ArticleApplicability: These Terms and Conditions are applicable to all OKCoin USA Inc. (“Sponsor”) contests and sweepstakes (“Promotion”) unless otherwise provided in the respective Promotion’s description.
Eligibility: The Promotion is open only to those who are 18 years of age or older as of the date of entry and is void in any jurisdiction where such Promotion or any portion thereof is prohibited. Employees of Sponsor, their respective affiliates, subsidiaries, advertising and promotion agencies, suppliers and their immediate family members and/or those living in the same household of each are not eligible to participate in the Promotion. The Promotion is subject to all applicable federal, state, and local laws and regulations.
Agreement to Rules: By participating, you agree to be fully and unconditionally bound by these Rules, and you represent and warrant that you meet the eligibility requirements set forth herein.
Promotion Period: Entries start and end on or about the dates provided in the Promotion description. All entries must be received by 11:59:59PM PST on the end date of the Promotion.
How to Enter: The Promotion must be entered by following the instructions provided in the Promotion description, or by following the instructions listed below for an alternate means of entry, if applicable. Entries must fulfill all Promotion requirements, exactly as specified, to be eligible to win a prize. Entries that are not complete or do not adhere to the rules or specifications may be disqualified at the sole discretion of Sponsor. You may not enter more times than indicated regardless of the means of entry. No purchase necessary to enter or win. A purchase will not improve your chances of winning. You are responsible for any access, usage, and postage costs, if applicable.
Alternate means of entry: For Promotions that are considered sweepstakes and where consideration is required for entry, an alternate means of entry may be accomplished by mailing Sponsor a Hand-written a 3”x5” card (“Entry Card”) with the following information: your full name, complete mailing address, valid email address (if you do not have an email address, print “no email address”), telephone number, and the exact title of the specific sweepstake you would like to enter. You may mail the Entry Card to Sponsor’s principal place of business provided in this Terms and Conditions. Each card will only count as one entry for the specific Promotion indicated on the entry card.
Prizes: Winners will receive prizes listed in the Promotion’s description. Actual/appraised value may differ at time of prize award. No cash or other prize substitution permitted except at Sponsor’s discretion. Prize is non-transferable. Any and all prize related expenses, including without limitation any and all federal, state, and local taxes shall be the winner’s sole responsibility. The odds of winning for sweepstakes Promotions depend on the number of eligible entries received.
Winner selection and notification: For Promotions held over social media (e.g. Twitter, Instagram, Facebook, etc.), participants must enable and allow direct messaging from the Sponsor from within the applicable social media platform to the account associated with the selected winning entry. Any Promotion utilizing a “drawing” or “random drawing” will be chosen using a generally accepted and reasonably random drawing method. Any Promotion constituting a contest will consist of one round of judging by a Sponsor staff member. Winners will be notified via direct electronic messaging within five (5) days following the winner selection. Sponsor shall have no liability for a winner's failure to receive notices unless due solely to Sponsor’s gross negligence. If the potential winner cannot be contacted, is ineligible, or fails to claim the prize within 15 days from the time award notification was sent, or fails to timely return a completed and executed declaration and release if required, prize may be forfeited and an alternate winner may be selected at Sponsor’s sole discretion. To obtain a copy of the list of winner(s), mail your request along with a self-addressed stamped envelope to Sponsor’s principal place of business at 150 Spear Street, Suite 1700, San Francisco, CA 94105. Requests must be received no later than 7 days after the end of the Promotion unless otherwise provided under applicable law.
Disqualification: Sponsor reserves the right, in its sole discretion to cancel, terminate, modify or suspend the Promotion should any cause beyond Sponsor’s direct control adversely affect the Promotion. Sponsor reserves the right at its sole discretion to disqualify any individual who adversely affects the Promotion, the Sponsor’s website, or violates these Terms and Conditions, from this and any future promotions offered by Sponsor. Failure to allow or otherwise enable direct communication from Sponsor for the purposes of winner notification pursuant to Section 8 shall also disqualify an entry.
No Multiple Entries: Sponsor has the right, in its sole discretion, to maintain the integrity of the Promotion by void entries for any adverse reason including but not limited to multiple entries from the same user regardless of IP addresses; multiple entries from the same computer in excess of that allowed by Promotion rules, or the use of bots, macros, scripts or other automated means for entering. Any individual who uses multiple social media accounts to enter the Promotion more than once shall be disqualified and be ineligible from future promotions.
Limitation of Liability: By participating in the Promotion, you agree to release and hold harmless Sponsor and its subsidiaries, affiliates, advertising and promotion agencies, partners, representatives, agents, successors, assigns, employees, officers and directors from any liability, illness, injury, death, loss, litigation, claim or damage that may occur, directly or indirectly, whether caused by negligence or not, resulting from your participation in the Promotion.
Disputes: THE PROMOTION IS GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA, UNITED STATES, WITHOUT RESPECT TO ITS CONFLICT OF LAWS DOCTRINE. As a condition of participating in the Promotion, you agree that any dispute, claim or controversy arising out of or relating to participation in the Promotion shall be determined by binding arbitration in San Francisco, CA before one arbitrator. The arbitration shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures or International Arbitration Rules, as applicable. Judgment on the Award may be entered in any court having jurisdiction. In any such dispute, you hereby waive all rights to claim punitive, incidental, or consequential damages, including reasonable attorneys' fees, other than participant's actual out-of-pocket expenses to enter the Promotion.
Social Media Platforms: You agree to abide by any additional rules set forth by respective social media platforms on which the Promotion is conducted.
View Article1. To link a mobile number, go to "Profile Settings" under the profile icon on the top right navigation menu and click "Add" next to "Link Mobile Number."
If your mobile phone number is unable to receive SMS codes, we recommend that you choose to link Google Authenticator.
2. To change the number associated with your email, please click the "Change" option and follow the steps to update the phone number associated with the account.
Please note that you will need the previous mobile number to receive the SMS authentication code.
3. To unbind the mobile number, please email.
Last Updated: July 10, 2019
View ArticleUser Guide
Dear Valued Customers,
We are thrilled to announce that users in the European Union can now deposit and withdraw euros via SEPA through a new payment channel, providing lower rates than before.
What does this mean for me?
If you’re a resident of the European Union, you can now deposit and withdraw euros and enjoy zero fees for the first six months - from now until April 22, 2020, at 11:59 pm PST! If your bank account is outside of the European Union, you will be subject to non-SEPA fees (see table below).
What are the fees?
Deposit
Deposit Fee*
Withdrawal
Withdrawal Fee*
Min: 5 EUR
per transaction
0.15 EUR (SEPA)
10 EUR (international)
Min: 10 EUR
per transaction
1 EUR (SEPA)
18 EUR (international)
*OKCoin will waive the deposit fee during the promotion period; however, standard bank charges may apply
Note: Maximum deposit and withdrawal amounts are dependent on KYC status
What if I’m a corporate customer?
Good news! Our corporate customers will also be able to enjoy higher limits and lower fees through the new SEPA payment channel.
Give us your feedback
Should you have any questions, our customer service team is here to help. Simply submit a feedback ticket or send us an e-mail at [email protected]. Users can also utilize our FAQs or pages for answers to common questions plus useful information and tips.
As always, happy trading!
OKCoin
October 22, 2019
View ArticlePlease be informed that the wallet upgrade work of Cardano (ADA) is complete. Deposits and withdrawals of ADA will resume at 00:00 Dec 12, 2019 (PST).
We apologize for any inconvenience this may have caused.
Thank you for your continued support and we assure you of our best service at all times.
Regards,
OKCoin
Dec 11, 2019 (PST)
View ArticleIn anticipation of the Zcash (ZEC) Blossom Upgrade, we will temporarily suspend deposits and withdrawals of ZEC on 01:00 AM December 11, 2019 (PST) until the upgrade is complete. Trading of ZEC will not be affected.
For the safety of your assets, we advise that you refrain from depositing and withdrawing your ZEC during the upgrade.
Details:
Suspension of Deposit and Withdrawals: Services will be suspended on 01:00 AM December 11, 2019 (PST) until the upgrade is complete.
Resumption of Deposit and Withdrawals:Services will be resumed when the ZEC upgrade is complete. Please check back for announcements on the resumption time.
Regards,
OKCoin
Dec 10, 2019
View ArticleDear valued customers,
We have increased the deposit and withdrawal limit for both individual and corporate users, details are as follows:
1. Individual users
For KYC level 2 users, the deposit limit is increased from USD 100,000 to USD 1,000,000; the withdrawal limit is increased from USD 1,000,000 to USD 2,000,000.
For KYC level 3 users, the deposit limit is increased from USD 1,000,000 to USD 2,000,000; the withdrawal will keep the same at USD 2,000,000.
2. Corporate users
For KYC level 2 users, the deposit limit is increased from USD 1,000,000 to USD 4,000,000; the withdrawal is increased from USD 1,000,000 to USD 4,000,000.
Regards,
OKCoin
Mar 7, 2019
View ArticleLast Updated: December 19, 2019
As the V3 API has been stable for over a year, we will lower the V1 Restful API rate limit by 50\% on February 9, 2020 at 10:00 PM (PST).
Please prepare to migrate from V1 to V3 in advance to avoid any impact on trading and prevent potential loss of assets. The V3 Restful APIand WebSocket API are more stable, efficient and comprehensive than the V1 API.
V3 API Address: https://www.okcoin.com/docs/en/
V3 SDKAddress: https://github.com/okcoin-okex/open-api-v3-sdk
In the future, we plan to suspend the V1 Restful API.We will announce the exact timeline for suspension at a later date. In the meantime, we suggest all users who rely on API trading to migrate to V3 as soon as possible. OKCoin shall not be liable for any losses incurred by users as a result of failure to complete the migration process.
If you encounter any issues during the migration process, or if you have any suggestions for our APIs, please contact our API support team on Telegram ( https://t.me/OKCoinAPI ) with your API, name and OKCoinaccount.
We apologize for any inconvenience this may cause.
As always, we wish you a pleasant trading experience on OKCoin and will continue to provide you with stable and reliable products and services!
Regards,
OKCoin
December 9, 2019
View ArticleDear Valued Users,
Here at OKCoin, we’re on a mission to make digital assets accessible to the world, which is why we are excited to announce our expansion into Singapore Dollar (SGD) spot trading markets for digital assets.
For new customers residing or incorporated in Singapore and Brunei, OKCoin now accepts SGD and USD transfer-in and withdrawals, as well as offers SGD and USD-based, digital asset spot trading services.
When will SGD transfer-in, withdrawal, and spot trading be available?
Transfer-in and withdrawal: Dec 5, 2019, at 17:00 Singapore Time
Spot trading: Dec 5, 2019, at 17:00 Singapore Time
Which digital asset pairs are available using SGD?
New customers residing in Singapore and Brunei will be able to access our SGD-based spot trading services for the following digital assets:
Bitcoin
BTC
Ethereum
ETH
This is only the beginning, as we intend to add more pairs and trading options very soon.
What’s in it for me?
We’ve taken the best of OKCoin, such as industry-leading security features, access to 24/7 customer support, plus our secure, stable, and reliable digital asset trading platform, to make available SGD and USD-based spot trading services of digital assets to new customers residents or incorporated in Singapore and Brunei.
What if I’m an institutional customer?
SGD-based spot trading is also available to new institutional customers registered in Singapore and Brunei, upon successfully completing KYC verification. To sign-up as an institutional customer, please click here.
What if I’m an existing customer (personal or institutional accounts)?
SGD-based spot trading services will not be available to you for now. There will not be any change or impact to the services currently available to you on okcoin.com. Going forward, we are looking to make available SGD-based spot trading services to all customers residing in Singapore and Brunei.
The new services mentioned above shall be provided by OKCoin Pte Ltd and shall only be made available subject to the relevant terms and conditions on okcoin.com.
OKCoin Pte Ltd is not licensed or otherwise regulated by the Monetary Authority of Singapore.
Give us your feedback
If you have any questions or trouble accessing OKCoin, our customer service team is here to help. Simply submit a feedback ticket or send us an e-mail at [email protected]. Users can also utilize our FAQs or User Guide for answers to common questions plus useful information and tips. As always, happy trading!
Follow us on our official OKCoin Twitter account ( @OKCoin ) for important news and announcements.
OKCoin
Dec05, 2019
View ArticleLast Updated: December 6, 2019
In anticipation of the Ethereum (ETH) Istanbul Upgrade, we will temporarily suspend deposits and withdrawals of ETH and all ERC-20 tokens on December 7, 2019 at 1:00 AM PST until the upgrade is complete. Trading of these assets will not be affected.
For the safety of your assets, we advise that you refrain from depositing and withdrawing your ETH and ERC-20 tokens during the upgrade. Please note that you should deposit margins in advance to avoid the risks involved during margin trading.
Details:
Suspension of Deposit and Withdrawals: Services will be suspended on December 7, 2019 at 1:00 AM PST until the upgrade is complete.
Resumption of Deposit and Withdrawals:Services will be resumed when the ETH mainnet is stable. Please check back for announcements on the resumption time.
This protocol upgrade will not create a fork token.
Regards,
OKCoin
December 6, 2019
View ArticleLast Updated: December 4, 2019
What is the Tiered Margin Ratio System?
The tiered margin ratio system permits higher leverage if a user borrows relatively lower amounts. Larger borrows require a higher maintenance margin ratio, limiting user leverage. The maintenance margin ratio is the minimum margin requirement to maintain a position. If a user’s margin falls below the maintenance margin ratio, liquidation will occur under the tiered liquidation system. Partial liquidations take place if conditions permit, so that unaffected positions are retained when a large position reaches its liquidation trigger.
The following is the tiered margin ratio table for BTC/USD margin trading:
margin borrowing position tiers
For information on all positions, please see our complete .
For example, a user borrows 12 BTC (base currency), which falls within Tier 3 (10 15 BTC), and also USD 10,000 (quote currency), which falls within Tier 1 (USD0 - 50,000). His tier is determined by the higher tier, which is Tier 3 in this case. Therefore, his maintenance margin ratio is 7\%, and the maximum leverage available is 8.69x.
Partial Liquidation System
Our partial liquidation system is a risk control system used to lower the risk of market fluctuation and margin call loss caused by the liquidation of large positions. For example, if a user’s tier is Tier 2 or above, and his margin is lower than required by the maintenance margin ratio of the tier, partial liquidation will occur. Our system will partially reduce his position size to that of Tier 1. After bringing the user’s tier down by one tier, if the amount of his margin can meet the maintenance margin ratio of the new tier, partial liquidation will stop. If not, partial liquidation will continue.
Full liquidation system
If a Tier 1 user’s margin is lower than the maintenance margin ratio of the tier, or a Tier 2 or above user’s margin is lower than the maintenance margin ratio of Tier 1, full liquidation will occur. Our full liquidation system is employed to minimize the risks of cascading liquidations and margin call losses.
View ArticleLast Updated: December 4, 2019
In order to decrease risk and increase borrowing limits, OKCoin will launch a tiered maintenance margin ratio system for spot margin trading during 07:00-08:00 Dec 2, 2019 (UTC).
Comparison of old and new tiered maintenance margin ratio systems:
Aspect
Tiered Maintenance Margin Ratio System (New)
Full Liquidation System (Old)
Leverage
1. Up to 10x
2. Flexibility in formulating strategies
1. Up to 3x
2. Not adjustable
Borrowing Limit
Higher limits with lower leverage, by about 10x
Fixed limits
Liquidation System
Partial liquidation, bringing down a user’s tier by 1 each time
Full liquidation
Maintenance Margin Ratio
1. Hither tiers restrict maximum leverage. In other words, higher borrowing amounts require a higher maintenance margin ratio.
2. Lowest ratio of tier 1 = 5\% (e.g. BTC/USD)
Fixed at 10\%
For details, please refer to our tiered margin ratio system guide.
Advantages of the tiered maintenance margin ratio system:
Higher maximum leverage of up to 10x, allowing flexibility in formulating strategies.
Higher borrowing limits, increased by 10x on average.
New tiered liquidation system, where partial liquidation occurs such that unaffected positions are retained when a large position reaches its liquidation trigger.
Note: Users are advised to be aware of the maintenance margin ratio changes, and control their potential liquidation risks in advance.
We wish you a pleasant trading experience, and will continue to provide you with reliable products and services!
Regards,
OKCoin
Nov 29, 2019
View Article
Working at Okcoin
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Recently Asked Questions
Recent Okcoin Employee Reviews
- The company offers good salary and benefits. However if you have enough patient and hope you need to keep fighting for hour rights. There is hierarchy. You get review from QA and uyou cant even reach out to the QA accourding your marks, to appeal!! You need to accept what you get in the company
- Honesty, respect, ethics, truth and honor.
- customer service could certainly improve
- Transparency. Fells like everry support related question is answered by a bot. No human related experience.
- Hire leadership that have experience outside of APAC. Currently group think no critical thinking C-Suite love sycophants telling them how wonderful they are