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OKEx vs Binance

Okex Vs Binance review

 

An overall comprehensive side-by-side comparison of OKEX vs Binance. OKEX is a popular international cryptocurrency exchange with low fees, high-interest staking opportunities, and easy-to-buy cryptocurrency. But how does this crypto exchange level up against the popular crypto provider, Binance?

 

OKEX vs Binance – 16 Key Point Quick Overview

 

  1. ☑️ General Comparison

 

🏆 Top 3 Brokers Crypto Trading Platforms

⚡The world’s biggest crypto platform

⚡ Asia’s Biggest Trading Platform

⚡Africa’s Biggest Trading Platform

 

General Comparison

 

🔍 Featuresℹ️ OKExℹ️ Binance
🔄 General comparison4/53/5
⚖️ Regulation3/51/5
💰 Fees4/54/5
📊 Trading features4/54/5
📊 Trading Apps4/54/5
📊 Analytical Tools4/54/5
☑️ Beginner friendly4/53/5
💯 Trust Score9380
⭐ Best in class

 

Safety Comparison

 

🔍 Featuresℹ️ OKExℹ️ Binance
💯 Trust Score9380
📅 Year founded20172017
👪 Publicly traded❌ No❌ No

 

Instruments Comparison

 

🔍 Featuresℹ️ OKExℹ️ Binance
💱 Number of currencies400+80+
⭐ Popular coinsBTC
XCH
ETH
OKB
OKT
LTC
DOT
ADA
DOGE
XRP
USDT
ICP
BCH
LINK
XLM
ETC
MATIC
THETA
UNI
TRX
EOS
FIL
XMR
NEO
USDC
AAVE
SHIB
LUNA
KSM
BSC
ATOM
IOTA
ALGO
XTZ
CRO
MKR
BTT
CEL
LEO
WBTC
WAVES
KLAY
DASH
XEM
COMP
SNX
ZEC
DCR
SUSHI
SOL
EGLD
DAI
BTG
ZEN
NANO
KISHU
DOGE
VET
USDT
BTC
BNB
ETH
VTHO
ADA
ONE
SOL
NEO
LINK
XLM
NANO
LTC
BUSD
HBAR
ALGO
MANA
ZIL
ENJ
BCH
MATIC
EGLD
HNT
EOS
QTUM
RVN
DAI
IOTA
ONT
STORJ
UNI
ETC
BAND
OMG
XTZ
USDC
ATOM
DASH
ICX
BAT
MKR
OXT
ZEC
ZEN
ZRX
COMP
WAVES
KNC
REP
PAXG
FIL
WBTC
THETA
SHIB

 

Costs Comparison

 

🔍 Featuresℹ️ OKExℹ️ Binance
💰 Fees for takers0.10%0.1% per spot trade
💰 Fees for makers0.08%0.1% per spot trade

 

Deposit Conditions Comparison

 

🔍 Featuresℹ️ OKExℹ️ Binance
💰 Deposit fees❌ No❌ No
💳 MasterCard☑️ Yes☑️ Yes
💳 PayPal☑️ Yes☑️ Yes
💳 Skrill❌ No❌ No
💳 Sofort❌ No❌ No
💳Credit card❌ No☑️ Yes
💳Apple Pay❌ No❌ No
💳 Amazon❌ No❌ No
💰 Minimum Deposit10 USDTNone

 

Trading Tools Comparison

 

🔍 Featuresℹ️ OKExℹ️ Binance
📊 Integrated Wallet☑️ Yes☑️ Yes
📊 Mobile App☑️ Yes☑️ Yes
📊 Cold Storage☑️ Yes☑️ Yes
📊 Two-Factor Authentication☑️ Yes☑️ Yes
📊 AlgoTrader☑️ Yes☑️ Yes
📊 Proprietary Platform☑️ Yes☑️ Yes

 

Trading Possibilities Comparison

 

🔍 Featuresℹ️ OKExℹ️ Binance
📌 Crypto Lending☑️ Yes☑️ Yes
📌 Crypto Mining☑️ Yes❌ No
📌 Crypto Staking☑️ Yes❌ No
📌 Bonus☑️ Yes❌ No
📌 Additional InstrumentsSpot, futures, perpetual swaps, options❌ No
📌 Demo account☑️ Yes❌ No

 

OKEx vs. Binance

 

We spent many hours carefully testing the best-in-class cryptocurrency platform for 2022. Here, we explore the differences between OKEx vs. Binance.

 

Which platform offers better pricing?

 

OKEx and Binance both provide customers with a unique pricing system.

Even though OKEx’s costs for buying and selling cryptocurrencies are quite low, the pricing structure of the exchange is extremely complicated.

Because OKEX enables such a wide variety of trades and takes such a wide variety of currencies, accepts account volumes in a wide range, and bases fees on whether or not the user has OKB, it is able to offer a wide range of pricing structures.

The trading cost that is often charged by OKEx is lower than 0.10 percent.

The total amount that you will be charged in fees is proportional to the value of the trade. This is because Binance assesses a cost of 0.10 percent for trading on the platform and a fee of 0.50 percent for Instant Buy/Sell.

The amount that the fee is increased by will be directly proportional to the total value of the transaction. One technique to minimize the costs connected with trading is to maintain a constant level of some Binance Coin in your account. This allows the fees that are associated with trading to be removed from the balance rather than added.

 

On which platform is my crypto safer?

 

Additional security capabilities, designed to assist in the protection of user accounts, are made available by OKEX.

These features include the storage of private keys in a large number of offline computers and the deployment of a proprietary network communication protocol for the purpose of transporting user data across a significant distance.

Whitelisting email addresses is one of the security measures provided by Binance. Other security features include device management, the ability to restrict device access, two-factor verification via the Google Authenticator app or short message service (SMS), and device management.

Even while these safeguards have the potential to assist in maintaining some kind of security for user accounts, there is still reason to be cautious about Binance due to the reputation it has earned.

In general, the security products and services they provide are on par with those provided by other companies operating in the same industry.

 

Where will I find superior trading conditions?

 

Using OKEx, The “Buy Coins” interface, which can be accessed on both mobile and desktop devices, makes it simple to buy bitcoin using a wide number of payment options, such as a linked bank account, debit card, credit card, and so on.

Trading cryptocurrencies can be done in one of two ways, either with the use of leverage or without the use of leverage. Those who are interested in trading cryptocurrencies can do so.

However, even the most fundamental trading plan offers a vast selection of sophisticated order types, charting and analysis tools, and access to real-time order books.

Because they are designed with more seasoned crypto traders and investors in mind, some of the choices available under “Basic Trading” may appear intimidating to newbies.

With Binance, real-time charting tools that include both basic and exponential moving averages are one of the many trading elements that are available on the platform.

The Binance mobile app, the Binance website, or the Binance desktop application are all viable options for users who wish to carry out trades with the Binance platform.

The Binance interface provides traders with access to their portfolios as well as their transaction history, in addition to the price charts and the order book.

Additionally, customers can choose from a variety of special order types, such as stop, limit, stop-limit, stop-market, and trailing stop orders, among others.

 

How many crypto coins are on offer?

 

OKEx provides access to more than 400 different crypto coins, while Binance only provides access to more than 80 different crypto coins. OKEx is the clear winner here.

 

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Can I trust OKEx?

 

Yes, OKEx is a trading platform that is compliant with the laws of the VFAA. Both Hong Kong and Malta are listed as the company’s places of registration.

The Virtual Financial Asset Act is a piece of legislation that falls under the jurisdiction of the Malta Financial Services Authority.

OKEx is widely considered to be one of the safest platforms available for trading cryptocurrencies anywhere in the globe. Because it has never been the target of an attempt to hack it, there are no negative reviews that have been published about it. As a result of this, it has a perfect rating.

 

Can I trust Binance?

 

It is generally accepted that Binance is a trustworthy cryptocurrency exchange; however, its reputation has taken a hit as a result of a hack that occurred on the platform in 2019, which resulted in the theft of around 40 million dollars worth of cryptocurrency from the platform.

Binance has made good on its promise to pay its users for any losses they may have had as a result of the hack, and the platform has also strengthened its security system in order to make trading in its platform safer.

 

A closer look at OKEx

 

OKEx is a cryptocurrency exchange that enables its users to buy, sell, and trade a range of different crypto assets.

In addition, it enables users to lend and borrow specific cryptocurrencies, and it gives users the option to take part in proof-of-work mining pools in order to earn bitcoin in the capacity of a miner.

OKEx offers sophisticated charting, various different order types, trading on leverage and futures, and trading fees that are comparable to those offered by other exchanges.

Those who are interested in trading cryptocurrencies can choose between “conventional trading” and “trading with leverage,” both of which are viable options.

Having said that, even the most fundamental trading option gives customers access to a wide selection of advanced order types, charting and analytical tools, and live order books.

As a result of the fact that the options that are included in basic trading were built with more seasoned crypto traders and investors in mind, it is possible for newcomers to the space to suffer feelings of being overwhelmed by them.

OKEx uses a maker-taker fee model to determine the number of trading fees to charge its customers. This model also takes into account user volume and the total quantity of native OKB coin holdings that are kept in a customer’s account.

A sliding scale is used to calculate the prices, and clients are eligible for price reductions as they complete more transactions and amass more OKB coins.

 

A closer look at Binance

 

When it comes to advanced cryptocurrency traders and investors, Binance is the exchange of choice. It offers a wide selection of cryptocurrencies that may be exchanged on a global scale and low trading fees.

However, the UI is not particularly user-friendly due to the wide number of trading options and services it offers. Investors on Binance may face a high learning curve, depending on their existing level of knowledge and experience.

Binance offers a wide range of trading features that may be accessed through the website’s desktop and mobile user interfaces. Hundreds of different cryptocurrencies and a wide variety of market charts are just two examples of these options.

Futures and options trading, as well as other trading instruments and order types, are all available to users.

There is a broad variety of trading tools available to Binance customers, including real-time charting with moving averages and exponential moving averages.

The Binance website, the Binance mobile app, and the Binance desktop program are all available to users for making trades.

In addition to seeing the order book and price charts, Binance users are also able to view their transaction history and portfolios.

It’s also worth noting that Binance supports a wide variety of order types, such as stop, limit, stop-limit, stop-market, and trailing stop orders. You can choose from several different trading views, including the traditional one, the margin perspective, and the over-the-counter one.

If you’re an experienced crypto trader looking to diversify your portfolio, Binance may have the features you’re looking for, but it only supports a fraction of the cryptocurrencies available on other exchanges.

 

You might also like: OKEx vs FTX

You might also like: OKEx vs Coinbase

You might also like: OKEx vs KuCoin

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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