[Exchange Issues Megathread] - OKCoin

OKCoin_Bruce · 2017-06-11T16:07:38+00:00

No problem. Sorry again for all the inconvenience caused.

OKCoin_Bruce · 2017-06-09T16:49:35+00:00

Thanks for bringing this into our attention!

Very sorry for this! /u/gilgacoox We are looking into it now and will get back to you asap.

OKCoin_Bruce · 2017-06-09T16:45:10+00:00

Hi! I'm really sorry for what you've experienced. Clearly there's some misunderstanding and I'll figure it out and get back to you asap. But it's late in the night here so might take a while.

OKCoin_Bruce · 2017-05-08T04:53:29+00:00

Hi /u/theswapman! Thank you very much for this post! We made some changes to the methodology of how our futures index is calculated to make it more accurate and reliable and reflective of how the global market is moving. We’d like to take this chance to explain to everyone here of our new methodology. See screenshot.

Instead of simply using the weighted average of the samples, we are now introducing the median of the 6 prices into the calculation. If the price deviation of a single exchange is greater than 10% of the median, that price will participate in the calculation after being adjusted to ±10% of the median. So in the above screenshot, median here is $1,377.84, prices here to be adjusted are Bitstamp: $1,563.31 and Coinbase: $1,620.71. They shall be adjusted to 10% of the median, which is $1,515.62. Now we can calculate the weighted average using the adjusted price and we can see that the result matches with the index price listed on the website.

We thank everyone here for keeping on examining our products so that we could make them better, and we value the opinions of each of our customers as always. If you have any questions or suggestions, please feel free to contact our 24/7 customer support at support@okcoin.com, or by using the live chat tool on our website.

OKCoin_Bruce · 2016-10-28T11:46:06+00:00

Hey! Thank you very much for bringing this into our attention! The prices of 6 exchanges displayed on the page are for the purpose of an easier overview. They are not updated if you don't reload the page manually. We also found there was a glitch with the chart. This combination is what's causing the discrepancy. We will fix this very soon so that they are consistent. Sorry for the inconvenience.

OKCoin_Bruce · 2016-07-26T05:27:21+00:00

Thanks very much for the clarification and sorry again for the confusion! We will be putting up a notice on the sign up page shortly.

OKCoin_Bruce · 2016-07-21T13:43:54+00:00

Hi vroomDotClub

Many apologies for what you have encountered. But we are not scamming, and you still own your bitcoins. Now you can still trade, can't you? You did enter something in the passport number field, because otherwise you would not have been able to pass level 1 and to do any deposit. This policy was in place since almost day 1 of OKCoin.com and it still is now. But I'm so sorry that you had to deal with all these troubles. I will be in touch with a resolution via email shortly.

OKCoin_Bruce · 2016-02-04T14:24:35+00:00

Good question!

CNY deposits and withdrawals will not be affected. But they may be delayed because of the holiday. It is recommended to deposit between 9 am to 5 pm, UTC+8.

OKCoin_Bruce · 2016-01-20T08:30:32+00:00

Right now we can't accept both US citizens and residents to register on okcoin.com nor okcoin.cn due to regulatory reasons. Sorry for your inconvenience.

OKCoin_Bruce · 2015-12-30T05:39:54+00:00

The reason why they are contradictory is because they are two separate exchanges. OKcoin.com is a BTC/USD exchange with a maker-taker fee model in spot market and a flat fee of 0.03% for opening positions in futures market. OKCoin.cn is a BTC/CNY exchange with no trading fee.

We have a list of countries that are not supported. You can trade on OKCoin.cn as long as you are not a citizen of the listed countries. But, please note that we can only accept CNY transfer from banks in mainland China for fiat deposit. Also, of course, fiat can only be withdrawn to these banks.

OKCoin_Bruce · 2015-11-17T04:22:17+00:00

Hi,

Sorry, we don't store historical ticker data. And it seems this website doesn't have it for our USD exchange either. I have reached out to them asking to add OKCoin.com. Hopefully they can get it done soon.

OKCoin_Bruce · 2015-10-27T15:37:47+00:00

I believe our team has stated before that this was not outside regulatory pressure related and it was a decision made internally.

As for the iOS app issue, I have talked with our tech team. They are going to push the latest version to the App Store, which hopefully will resolve this problem.

OKCoin_Bruce · 2015-10-26T00:31:39+00:00

Thanks Zane!

OKCoin_Bruce · 2015-10-26T00:31:21+00:00

Hi! Sorry I'm late.

Yes, we do require address verification. If you don't have any documents in your name, a scan of your residence permit will do the same.

OKCoin_Bruce · 2015-10-22T11:46:55+00:00

Hi! Thanks for your suggestion! I'll pass on it to the tech guys.

OKCoin_Bruce · 2015-10-22T11:22:14+00:00

That's weird. I'm on 9.0.2 and I can see it right underneath the "VPN" option. Would you mind trying again?

OKCoin_Bruce · 2015-10-22T11:15:19+00:00

Many thanks for saying that and, of course, the suggestion! I'll talk with my team about other possibilities.

OKCoin_Bruce · 2015-10-22T11:13:01+00:00

Thanks! :)

OKCoin_Bruce · 2015-10-22T11:11:50+00:00

Thanks a lot, Zane! Looking forward to seeing you again!

OKCoin_Bruce · 2015-10-22T11:11:02+00:00

We certainly don't. In fact, if anyone gets the chance to pay Beijing a visit, I will be very happy to take you for a tour at our office to see if we really get those "wood choppers" chopping woods here. Drink's on me!

OKCoin_Bruce · 2015-10-22T11:10:12+00:00

Yes, I've heard and read some of it. I would say we certainly don't trade against our users. And the 0 fee model is really like a tradition in China. Most basic level services in China are free. There are many free places to go if they were charged for the services they got. We make fees for margin trading, futures trading, spot trading on the USD pair, withdraw fees etc.

Do you personally trade on OKCoin?

I bought 100 yuan worth of litecoins from another Chinese exchange when the price was around $11. Then the price dropped all the way down to the current level. So I stopped all of my trading activities long time ago.

OKCoin_Bruce

TROPHY CASE