OKCoin USA
reviews and complaints

After investing in oldust earn program through okcoin. Now they are saying that terra have rules around airdrop and I am not eligible for that as I am post attach and holding ust in earn program. One more rugpukl by okcoin. One of the worst in market right now. Customer service in Facebook messenger and telegram is horrible. Does not have any knowledge on airdrop and source of information. Still claiming I am not eligible for airdrop. Okcoin support/admin do something with post attack earn ust program. Terra will not take care of all. I have invested through okcoin. Okcoin liable to provide proper documentation for this rules.

Stole 17k from me. Totally verified and linked to my bank with all personal info that I’m now reading they don’t even keep private, after I made several deposits and started buying ,they locked up my account and said they will give it back if I send them a video of myself holding more personal documents, stating that I have complete control of my funds !?
I read through the reviews and don’t know what math apple uses to come up with an average average of 4.8.
I wish I’d have read through the actual reviews first.
I see there is only one person that after says they were finally able to get their money back
I sure wish they’d have detailed how they did it

DO NOT ADD MONEY TO THIS APP!
I have had such a nightmare experience with Okcoin. I had issue with money deposited into my Okcoin account, after numerous follow up (close to 2 weeks) the customer service representative finally told me that they will refund my deposit to the original bank account. However nothing has been done, I followed up almost everyday and ask for status of my refund, all I heard is that they have escalated my case with the team but nothing has been done for another week. It’s been really frustrated that my money stuck with Okcoin for 3 weeks! This is just beyond unacceptable. I still have not get my money back! Horrible experience! NEVER AGAIN!

Was looking for an alternative to Voyager, and decided to give OKCoin a try. What a mistake! Compared to Voyager and Coinbase, this platform is extremely non-intuitive, with the added steps of having to transfer funds from a fund account to a spot account, just to place a single trade. And the pricing is unbelievably bad. An altcoin I was looking at on OKcoin was listed for $0.7211 and was available on Voyager at the same time, with an ask of $0.5567!

I regret transferring any funds to this platform. While I was able to ACH funds from my bank for free, the only option to transfer funds back was by wire.

Really makes me wonder if all of the 5 star reviews are real...

I'm losing as time passes by forlast 3.days

I have gotten an email that States my capital one checking has been verify/linked to my OkCoin Brokerage account.

I just called capital one checking account ending XXXX# associated with the brokerage account , they have not seen anything asking for a withdraw for an amount $3,000.oo or they have not denied/or stop any process. As well I can't withdraw from my OkCoin Account.

Can you please help me with this?

try last night and this morning my time Eastern Time Zone no luck on getting new transaction for deposit or withdraw.

Error Message state:
My account is temporary unavailable please explain why.

PLEASE I need get this resolved ASAP NOW!

This app is by far the worst app ever.
Don’t even dare putting money into it.
It’s a vast maze. Once your dollars are in it, don’t expect to get them out.
I just received an email that they are shutting down their main reason for existence, which is to “stack or earn” interest by staking your funds. In the email, it directs you to a survey, and once there you are supposed to have an opportunity to pose questions.
Even that survey, doesn’t work. I tapped on the first section to add a question and presto! Survey ended.
I swear if I hadn’t seen an address from San Francisco, I would have believe that English was not the developer’s first language, actually, maybe it isn’t?
There are way better opportunities out there and don’t pick this shell game!

Easy to buy Crypto with OkCoin. Nearly impossible to retrieve or recover your funds later. After two days of intense jumping through hoops I was able to transfer most of my funds to my bank account. These funds were available on the 3rd day. On the 4th day I was rewarded with a wire transfer fee even though OK promised there would be no wire fee.

Next I tried to close my account which is next to impossible and they require a copy of my photo ID! Nope… not gonna happen. IMO they want even more control of my sensitive information which I’m trying to have removed. There was practically no vetting to create my account in the first place.

I reported them and their practices to the SEC. Turns out the SEC revoked their registration in July. Go figure.

I only gave a review of one star because it’s the lowest you let me. I had this app and made several purchases of coins. About a month or so of having the app and making purchases, I get locked out of the app. When I use my email and password, I get a message “User Does Not Exist.” When I use my phone number associated with my initial registration, they tell me to input the code sent to my phone, but they never send the code. I tried to get help on Telegram, and there’s scammers on there acting like “admin” OKCoin representatives. I just finally gave up trying after days and hours trying to get my app to reopen. I’m thoroughly convinced that OKCoin is a big scam. They will eventually lock you out of your app and just take your coins and money. All I can say by warning is just RUN FROM OKCOIN!

Update 5.2.8 also fixed the issue I listed in my initial review.

2FA works like a charm. Had access to all connected fiat accounts. Activating SATS mode is pretty awesome as I want to train myself to think in Satoshis.

Looking forward towards utilizing credit cards as well vs just fiat ACH bank transfers.

Also wish to set up automatic USD deposits to build my stash of “dry powder” ready to buy dips and DCA.

Original Rating: 1 ⭐️
iOS app has some bugs. I have completed kyc for Okcoin thru the desktop web browser. Decided to download the app. I have the current version 5.2.6 and it either gives me “network issue” error when I enter my user email and password or cant recognize my email when I try to use login with email. Chat not suggests clear mobile cache but that option is not available under settings for the Okcoin app. FTX.US never had this issue.

OkCoin is better than the rest primarily for two reasons:
1. They list coins earlier than alot of exchanges (for Example Luna and Kadena) I was able to buy on here weeks if not months before some of the others.

Additionally, they offer in app staking for lots of coins. I realize that lots of Crypto people prefer moving their funds to a non custodial wallet and staking directly, but I have checked alot of the rates for some of the staking and their rates are fair. For example you can lock TerraUSD on anchor protocol for ~19.5% and Okcoin offers in app staking at over 20%.

So I am very satisfied for the most part, my only two requests/ criticisms are
1. Add Debit card support. I actually find it very inconvenient using ACH with OkCoin because they withdraw like 10 days after your purchase, I prefer my money to be withdrawn immediately.

2. Please make your own debit card for customers to use like Bitpay, Voyager, and Coinbase. If you add this this would become my number one used crypto app.

3. If you guys added a non custodial wallet feature that would make everything perfect.

Keep up the good work thank you!

-Satisfied Customer

I originally downloaded without reading the reviews. Opened up the app, saw some intriguing interest rates in some well known coin and some amazing in unknown (yes, I’m pointing my finger at you MIA). Made a couple of purchases, sent a couple over all in the hopes of earning interest. Felt good at first, then once I came back and went through the reviews a state of panic overcame me. I, too, was unable to get back anything I had sent and it wouldn’t let me send out anything. Tried contacting customer support, which before I wanted to withdraw was fine. When the support topic came to withdrawals though, several dozen attempts at this point (once or twice WEEKLY since Beginning of March). They have yet to contact me back even months later. Unable to send out but still able to spend with them. Stay far far away from these guys. You can get just as good interest rates in normal DeFi without some third rate middle man stealing from you. I’m out $200 though because of the market turmoil it’s down to about 40. Though it’s not their fault Luna crashed. I still should have had the opportunity to work with my coins. Half tempted to file a complaint if there was anywhere to actually do so.

I’ll not make this a long review. What I like: Very nice clean UI without a lot of ‘banner’ clutter such as Kucoin. I disliked that funds are held for 10 to 14 days days or longer if you use ACH. Preference is Wire Transfer but in reality who pays those fees today when so many other options are available with other exchanges so I gave them 1 star because most importantly for me is having the ability to immediately move funds. All top American exchanges use third party services to secure multiple transaction pertaining to fiat’s ability continuous movement of funds. Just keep in mind if you ACH you must wait 10 business days before withdrawal or even longer. And, I also believe their fully registered under a lot of governmental organizations which is great but Again, I can’t currently use them until they reduced their ACH hold time. Update: 8/27/22 one day after funds came available to withdraw I still wasn’t able to withdraw my funds from this exchange. In fact it has gotten crazier; banners popping up every time I try to enter 2FA which times out my 2FA attempt, insanity! I’d tried 10 times entering digits and when I am successful with 2FA I get error pop up. This exchange is the most aggravating exchange I have ever experienced. I personally don’t recommend them. I strongly suggest do your research before signing up and making deposit. Better exchanges are available.

This exchange is shady at best, and downright criminal at worst. I’ll start off by saying — You’ve been warned.

I will say, the app looks slick. And it’s too bad, because it is the ONLY good quality of Okcoin. Let’s begin…

They will begin to ask you for more and more personal info. I understand KYC, but they go WAY too far, like asking for your ALL of your bank account info and a transaction history of two months prior — absolutely unnecessary. No other exchange does this. They are also not actually located in the US. They are a Chinese based exchange, and this can be easily verified.

***MOST IMPORTANTLY***
they will try to take your funds. They will randomly suspend accounts for no reason whatsoever, and customer support will only reply that they’ve “opened a ticket” and then go dark. If you persist with them to resolve the issue after they go dark they will reply that they are going to ‘close your account within 72 hours’, meaning you’ll never have access to your funds again.

Upon hearing this I sent them several emails , which again went unanswered…on the last day, I emailed and threatened legal action against them, with my law firms email CC’d and only then did they respond, with “great news!” And unsuspended my account, to which I immediately logged in, and withdrew everything.

Please read other bad reviews, as I believe the “good” reviews are fake reviews to save face for this sorry excuse of a crypto cex. This sham of an exchange has and will do shady things to either hold your funds hostage or just downright steal them. So I repeat…

DO NOT USE OKCOIN — YOU HAVE BEEN WARNED.

I have okcoin for a few months now, so whatever they advertise is mostly lies, in my case the start offer the miami coin and staked at 480% APY, which I did it sounds a great deal, i staked for 6 month where I’m supposed the get my earnings every 2 weeks on STX coins, however is been almost 2 months since I staked my coins and I only got pay once, and they customers services say they don’t know nothing that we have to way. So I staked my coins and I can’t sale and I don’t getting any interés. And now they drop the interest to 280% and this week to 180% …. This company is bad don’t invest here.

Signed up for multiple 12tier Stacks earn protocols in their exchange. They gave 100+% percent returns on new stacks coins added to drive incentive to purchase. Then out of the blue removed the earn protocols and posted nothing or sent no emails! My crypto just appeared in my wallet out of the blue! This is the kind of shady business that you see from crypto exchanges that you should not support. A good exchange will notify you months in advanced of any changes to farming protocols. Don’t come here for your first purchases unless you are really looking for a specific coin you can’t find elsewhere!

Ability to paste password into password field was removed. This app is now useless, unfortunately.

Absolutely a scam. Do not put any money into this exchange! Couldn’t withdraw a penny of what I put in. Lost thousands!

I referred this app to a friend but funny enough there’s no option of debit card payment of her account
Is there any way to fix it?

Easy to add money very difficult to withdraw the money. I would not use this app unless you want to just throw money away. They should be shut down.

They make you change your password when you try to withdraw funds so you can’t transfer funds for 24 hours. Shady practices under the guise of security features. Beware.

Thanks for basically stealing my money, I am unable to withdraw no matter what I do and can’t even message for help on the app.

Please remove yourselves from the app market because whoever is in charge is truly awful

Absolute junk… don’t use it.
Takes forever to get support/ customer service.
Takes forever to set up account and when finished you will find out there a tons of mistakes
Takes forever to start and finish any type of transaction
… ️

This app used to be my favorite for ease of use and the ability to trade. However, they decided to disable trading on the mobile app …which defeats the whole purpose of using this app. They also have limitations on Desktop versions which makes no sense to stay with them. Going back to Robinhood

This used to be one of the best mobile crypto trading apps. Unfortunately they recently removed all the trading functionality. Now you can only buy or sell and for some reason the price is always marked up high than market to buy, so it should not be used.

I do like the concept of their DCA tool, yet again it fails as the price is significantly higher than market price.

I do hope they bring back the trading features and fix the price of the DCA and BUY features. If so this would be a 5 star app again.

Been using it a fair amount over the last 4-5 months, but quite frustrating. I’ve not been able to withdrawal anything to a wallet until at least 10 days have passed after my last activity! Now, the referral credit I got from using a referral code when I got started, after 7 months I still can’t withdraw that… clunky to work with and just seems sketchy. Read the other reviews… many folks have a lot of problems with this app. I’m about ready to just delete it and to heck with their silly referral credits that apparently aren’t really yours!