OKCoin vs Binance: Fees, Coins, Safety Comparison
| Feature | OKCoin | Binance |
|---|---|---|
Overall |
1.8 |
4.8 |
2.3 |
4.5 |
|
2.1 |
4.8 |
|
2.2 |
5.0 |
|
Investment Instruments |
1.5 |
4.7 |
Platforms and Charting Tools |
1.7 |
4.9 |
Deposit and Withdrawal |
1.6 |
4.7 |
Research |
2.1 |
4.6 |
Education |
1.7 |
4.8 |
Support |
1.6 |
4.8 |
Bonuses |
1.5 |
4.2 |
|
Your capital is at risk.
|
OKCoin vs Binance: Pros and Cons
The OKCoin exchange is a cryptocurrency trading platform with extensive investment opportunities. You can trade Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), TRON, and dozens of other cryptocurrencies. Of the fiats, only the US dollar is represented. The investment system is a regularly updated list of deposits in affiliate projects with interests of up to 14%. The user forms his own investment portfolio. The exchange has its own trading platforms in two versions — web and mobile. Leverage of 1:3 is available for margin trading. There are several options for depositing and withdrawing funds, including bank cards and accounts. The crypto exchange is characterized by high-level security for users’ data protection. An extensive and extended verification is required.
The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit).
| OKCoin | Binance | |
|---|---|---|
| Overall Pros | the simple and intuitive interface of the trading terminal; | Trading With Leverage up to 1:100 |
| margin trading with leverage is available; | Low Trading and Non-Trading Fees | |
| all major cryptocurrencies are traded on the exchange; | 10+ Account Fiat Currencies + 50 Crypto | |
| convenient investment system with a customizable portfolio; | Derivatives, NFT, ETF are Available | |
| terminal charts have many built-in tools; | Indicators are Available | |
| negative balance prevention is in effect; | Passive Income With Staking and Mining Pool | |
| has three active regulatory licenses. | Strong Research | |
| Overall Cons | the platform is presented in two languages only — English and Chinese; | No tier-1 regulation |
| the only fiat is the US dollar. |
OKCoin vs Binance: Safety and Regulation
| Regulated By: | OKCoin | Binance |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
Financial Crimes Enforcement Network (FinCEN), FINTRAC, MFSA |
Registered as Digital Asset Service Provider (DASP) by Autorité des marchés financiers (AMF) |
OKCoin vs Binance: Trading Conditions
| Trading Conditions | OKCoin | Binance |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
OKCoin |
Binance |
Max Leverage (Futures) |
44621 |
1-100 |
Number of Markets |
114+ |
1.358 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptocurrencies, USD |
USD, EUR, GBP +10 fiat currencies, 50+ Cryptocurrencies |
OKCoin vs Binance: Fees
Trading Fees
| Fee | OKCoin | Binance |
|---|---|---|
Max Maker |
0.09% |
0.1% |
Max Taker |
0.20% |
0.1% |
Min Maker |
0 |
0.012% |
Min Taker |
0.02% |
0.024% |
Debit/Credit Card Purchase Fee |
3.99% |
0.01 |
Futures Trading fees
| Fee | OKCoin | Binance |
|---|---|---|
Max Maker |
Not supported |
0.02% |
Max Taker |
Not supported |
0.04% |
Min Maker |
Not supported |
0 |
Min Taker |
Not supported |
0 |
Non-Trading Fees
| Fee | OKCoin | Binance |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
TrustPay: SEPA €0.20 + 0.3%; Credit and debit cards (Visa & Mastercard) 3,99%, |
No |
Bank Transfer Withdrawal Fee |
TrustPay: SEPA €1.5, Finductive: SEPA €8.5, Royal Business Bank - international wire $35, |
1.5 USD |
Debit/Credit Card Withdrawal Fee |
Not supported |
0.0001 |
BTC Withdrawal Fee |
No |
0.0001 BTC |
Inactivity Fee |
No |
No |
OKCoin vs Binance: Trading Assets
| Asset Name | OKCoin | Binance |
|---|---|---|
Overall |
114+ |
396+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
No |
Yes |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
No |
Yes |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
No |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
No |
Yes |
NFT |
No |
Yes |
Crypto ETF |
No |
Yes |
OKCoin or Binance: Investment Programs
| Asset Name | OKCoin | Binance |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
Yes |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Interest income |
No |
Trading Platforms: Binance or OKCoin
| OKCoin | Binance | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
Yes |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Binance or OKCoin
| OKCoin | Binance | |
|---|---|---|
SMS Based 2 FA |
No |
Yes |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Binance or OKCoin
| OKCoin | Binance | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Binance or OKCoin
| OKCoin | Binance | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Binance or OKCoin
| OKCoin | Binance | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
Yes |
OKCoin vs Binance: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | OKCoin | Binance |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes (Only Deposit) |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes |
Yes |
OKCoin vs Binance: Research
| Research Type | OKCoin | Binance |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
Yes |
OKCoin vs Binance: Education
| Education Type | OKCoin | Binance |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Binance vs OKCoin: Support
| Support Features | OKCoin | Binance |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Telegram |
OKCoin vs Binance: Crypto Bonuses and Promo
| Promo | OKCoin | Binance |
|---|---|---|
Crypto Bonus |
No |
No |
Affiliate Program |
After your affiliate makes trades for a total volume of at least $100, both of you will receive a one-time payment of $10. |
40% of the partner's trading commissions |
|
Your capital is at risk.
|
Top 5 Reviews on Binance
-
Comment
Binance has been super flexible when it comes to payment methods. It offers the usual mediums like bank deposit, debit card/credit card, crypto deposit, while also supporting newer ones like my favorite e-wallet. Integrating my e-wallet with my Binance account made all the withdrawals instant whenever I sell USDT in the P2P marketplace. The conversion rate is also attractive, making this method favorable to those who are frequently buying and selling on the platform. I withdraw money from them at least once a month and never experience delays. On a side note, I always use the same e-wallet account and had not tried doing it using bank transfers because of fees associated with doing so. There is no fee on this method so I prefer to use it over others.
-
Comment
Despite the growing number of reported hacks in the crypto space, I never once felt worried about using Binance as my crypto exchange. They have the most extensive security verification methods, and this makes me feel that trusting my funds with them is one of the best decisions I’ve made. Earlier this year I lost my phone number to which my Binance acct was connected and got very worried that my funds will be compromised. Turns out, it was easy to replace my old contact info with my new number, and they also suggested that I activate my 2-factor authentication for an extra layer of protection. I have also recently activated my passkeys for added security. All these years, Binance has been nothing but a trustworthy platform to me. I only trade crypto with them and nowhere else.
-
Comment
I created my account with Binance four years ago. It was during the middle of the crypto boom. I thought it was just a phase and would completely forget about it after the pandemic. But it turns out it is not :D. I still actively trade with the same account. Probably what made me stay is the ease of use, either when I am trading with the website or through the Binance app. Features in both platforms are easy to understand and use. I never had to consult YouTube videos as I normally do with my other brokerage accounts to figure out how a certain tool/button works. What you see is what you get. Never had issues with order execution, deposits, and withdrawals either which made the overall trading experience an excellent one all these years. I think Binance took over the crypto market easily for the same reason. It sold us the idea that trading is easy after all.
-
Comment
My experience with Binance has been predominantly positive. The platform's extensive cryptocurrency offerings, user-friendly interface, advanced trading features, and commitment to security make it a compelling choice for both novice and experienced traders alike.
-
Comment
Binance is the best cryptocurrency exchange for me. There is a very rich selection of cryptocurrency pairs, and many new tokens are added. The crypto rate is market-based, I checked with different exchanges, there is no big difference. With Binance, you can get a good return. I recommend the exchange.
Top 5 Reviews on OKCoin
-
Comment
OKCoin operates without proper oversight or regulation. Approach dealings with OKCoin cautiously, and consider alternative exchanges with clearer governance structures and more reliable reputations.
-
Comment
Money is not withdrawn. I can't get $600 from there for more than 3 weeks. Technical support is impudently silent, earlier they even wrote that there was a problem with the withdrawal of money.
-
Comment
scammers. be careful. never when above funds will be given to you so easily if you suddenly want to leave the company.
-
Comment
I use the OKCoin crypto exchange when I need to buy crypto for fiat at a profit. And then only if you need to buy small amounts of BTC, ETH, or LTC. The rates here are good, and you can withdraw without a commission. For serious trading, the OKCoin exchange, I think, is not suitable. Trading volumes are not that large now, and the daily trading volume is much less than that of its competitors. Therefore, even the commission cannot be reduced. I did not notice any problems with the conclusion, so there is no need to talk about scams. In general, OKCoin is rather weak in its capabilities. This is probably best used as a secondary/backup crypto-exchange.
-
Comment
I don't really like Chinese exchanges, because they are mainly focused on Asian residents. But OKCoin works with fiat currencies such as the euro and the US dollar. And you can replenish the deposit or withdraw funds through banks. This is a very big plus for trading with OKCoin. That is why I opened an account here, and for almost a year now I have been making a profit from crypto trading. The listing here is rather narrow, sometimes new coins are added. So they recently added STX, plus you could take part in the drawing of a prize in the form of $10,000 to your account. I didn't win, but the opportunity is interesting. OKCoin is a good crypto exchange, you can interact with it.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.