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The number of the negative comments received by WikiBit have reached 60 for this Exchange in the past 3 months, please be aware of the risk and the potential scam!
The number of this Exchange's nagitive field survey reviews has reached 3, please be aware of the risk and the potential scam!
|OKCOIN JAPAN Review|
|Regulation||FSA, NMLS, CEZA|
|Customer Support||social media|
OKCOIN JAPAN is a virtual currency exchange platform that operates in Japan. The platform offers a range of cryptocurrencies for trading and provides maximum leverage options. The crypto exchange has its headquarters in San Francisco, with other global offices in Japan, Hong Kong, Malta, Singapore, and Miami. Okcoin Restricted Countries Customers in 192 countries can access the services of the trading platform. U.S. residents can only use Okcoin through Okcoin USA. The trading service is currently restricted in regions like Hawaii, Nevada, New York, West Virginia, and all U.S. territories other than Puerto Rico.
|• Wide range of cryptocurrencies||• Regulatory issues|
|• Maximum leverage options|
|• Established presence|
1. Wide range of cryptocurrencies: OKCOIN JAPAN offers users the ability to trade a variety of cryptocurrencies, allowing for diversification and exposure to different markets.
2. Maximum leverage options: The platform provides users with maximum leverage options, which can potentially increase their trading power and enable them to take advantage of market opportunities.
3. Established presence: OKCOIN JAPAN has been operating in the virtual currency exchange market for a number of years, which may provide users with a sense of trust and reliability.
1. Regulatory issues: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Financial Crimes Enforcement Network (FinCEN) licenses are both exceeded.
It is important to note that these pros and cons are based on the limited information available. Users are advised to visit the OKCOIN JAPAN website or contact their customer support for a comprehensive understanding of the platform.
OKCOIN JAPAN is regulated by the Financial Services Agency (FSA) in Japan. The regulation number assigned by the FSA is 関東財務局長 第00020号. The exchange is also regulated by the Nationwide Multistate Licensing System (NMLS) in the United States, with a regulation number of 1767779. The Cagayan Economic Zone Authority (CEZA) in the Philippines provides regulation for OKCOIN JAPAN, although the specific regulation number is unreleased.
The exchange was also regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with a regulation number of M20929749, Financial Crimes Enforcement Network (FinCEN) in the United States, with two separate regulation numbers: 31000122737962 and 31000155908109. However, we can find the current status of these three regulatory oversights are exceeded.
The cryptocurrency market offers a diverse array of trading options, encompassing a selection of over 20 prominent cryptocurrencies, such as Bitcoin and Ethereum, which have garnered widespread recognition and adoption.
Beyond these well-established coins, an assortment of alternative tokens provides traders with a spectrum of investment opportunities, catering to various risk preferences and strategic approaches. Moreover, the platform's offering extends beyond individual coins, featuring a comprehensive assortment of over 30 coin pairs. This intricate web of trading pairs facilitates seamless and instant conversions between different cryptocurrencies, empowering traders with the flexibility to swiftly adapt to evolving market trends and capitalize on emerging opportunities.
The registration process for OKCOIN JAPAN consists of the following steps.
Visit the OKCOIN JAPAN website and click on the “Sigh Up” button.
2. Provide your email address and create a strong password for your account.
3. Verify your email address by clicking on the verification link sent to your email.
4. Complete the KYC (Know Your Customer) verification process by providing your personal information, such as your full name, date of birth, and residential address.
5. Upload the required identification documents, such as a valid government-issued ID or passport.
|Deposit||No deposit fees (except for BCH: 0.0001 BCH)|
|Withdrawal||Varies by cryptocurrency|
|Trading||Maker fee: 0.09%; Taker fee: 0.10%|
|Margin trading||Interest rate: 0.05% per day|
Deposit fees: There are no deposit fees for depositing fiat currencies into your OKCOIN JAPAN account. However, there may be fees charged by your bank or payment processor. There are also no deposit fees for depositing cryptocurrencies into your OKCOIN JAPAN account, except for Bitcoin Cash (BCH), which has a deposit fee of 0.0001 BCH.
Withdrawal fees: Withdrawal fees vary depending on the cryptocurrency you are withdrawing. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, while the withdrawal fee for Ethereum is 0.005 ETH. The withdrawal fee for Bitcoin Cash (BCH) is 0.0001 BCH.
Trading fees: OKCOIN JAPAN charges a maker-taker fee model for trading. The maker fee is 0.09%, while the taker fee is 0.10%. This means that if you place a limit order that is filled, you will pay a 0.09% fee. If you place a market order that is filled immediately, you will pay a 0.10% fee.
Margin trading fees: OKCOIN JAPAN charges an interest rate of 0.05% per day for margin trading. This means that if you borrow 1 BTC to trade, you will pay 0.05 BTC per day in interest.
Other fees: OKCOIN JAPAN may also charge fees for other services, such as account funding, account verification, and customer support.
Comparison with Other Crypto Exchanges
OKCOIN JAPAN may be suitable for the following target groups:
1. Experienced traders: OKCOIN JAPAN's wide range of cryptocurrencies and maximum leverage options can be appealing to experienced traders who are looking for diversification and opportunities to maximize their trading power. The platform's established presence in the virtual currency exchange market may also provide a sense of trust and reliability for experienced traders.
2. Risk-tolerant traders: With the availability of maximum leverage options, OKCOIN JAPAN can attract traders who are willing to take on higher risks in order to potentially enjoy greater rewards. However, it is crucial for traders to thoroughly understand the risks associated with margin trading and make informed decisions.
3. Users seeking international exposure: OKCOIN JAPAN's regulation by different regulatory agencies in Japan, the United States, and the Philippines can attract users who value international exposure and are interested in trading within a regulated framework.
4. Users looking for alternative cryptocurrencies: OKCOIN JAPAN's wide range of cryptocurrencies allows users to explore and trade lesser-known alternative cryptocurrencies, potentially providing opportunities for profit in emerging markets. However, users should keep in mind the potential risks associated with investing in less-established cryptocurrencies.
It is important to note that these recommendations are based on the limited information available. Users are advised to conduct thorough research and consider their own trading preferences and risk tolerance before engaging with OKCOIN JAPAN or any other virtual currency exchange.
OKCOIN JAPAN's User Review
User1: Trading fees – they're not exactly pocket change, but they're not highway robbery either. Just keep an eye on those fees because they can nibble away at your profits if you're not careful.
User2: To wrap it up, OKCoin Japan is like that reliable friend who's got your back. They've got the security and regulation game on point, an interface that won't make your head spin, and decent liquidity to keep the trading party going. But remember, every exchange's got its quirks, so make sure they jive with your crypto goals. Happy trading, fellow digital cowboys!
In conclusion, OKCOIN JAPAN is a virtual currency exchange that provides a wide range of cryptocurrencies and maximum leverage options, making it potentially appealing to experienced traders and risk-tolerant individuals. The platform's international exposure and regulatory compliance may also attract users seeking a regulated trading framework. Prospective users are advised to conduct their own research and carefully consider their trading preferences and risk tolerance before engaging with OKCOIN JAPAN or any other virtual currency exchange.
Q: Is OKCOIN JAPAN regulated well？
A: Yes. It is regulated by FSA, NMLS, and CEZA.
Q: What are the available cryptocurrencies on OKCOIN JAPAN？
A: OKCOIN JAPAN provides more than 20 crypto coins for their clients.
Q: Who is OKCOIN JAPAN suitable for？
A: OKCOIN JAPAN may be suitable for experienced traders seeking diversification opportunities, risk-tolerant individuals willing to engage in margin trading, users interested in international exposure within a regulated framework, and those looking to explore and trade alternative cryptocurrencies.
Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities.
Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.