OKCoin vs Kraken: Fees, Coins, Safety Comparison
| Feature | OKCoin | Kraken |
|---|---|---|
Overall |
1.8 |
4.5 |
2.3 |
4.8 |
|
2.1 |
4.1 |
|
2.2 |
4.5 |
|
Investment Instruments |
1.5 |
3.7 |
Platforms and Charting Tools |
1.7 |
4.5 |
Deposit and Withdrawal |
1.6 |
4.0 |
Research |
2.1 |
4.3 |
Education |
1.7 |
4.2 |
Support |
1.6 |
4.3 |
Bonuses |
1.5 |
2.0 |
|
Your capital is at risk.
|
OKCoin vs Kraken: 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 Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.
| OKCoin | Kraken | |
|---|---|---|
| Overall Pros | the simple and intuitive interface of the trading terminal; | 2 FA authentication |
| margin trading with leverage is available; | Low minimum deposit | |
| all major cryptocurrencies are traded on the exchange; | Passive income with staking | |
| convenient investment system with a customizable portfolio; | Regulated in several countries | |
| terminal charts have many built-in tools; | Minimum maker fee $0 | |
| negative balance prevention is in effect; | Over 50 indicators and 16 drawing tools | |
| has three active regulatory licenses. | ||
| Overall Cons | the platform is presented in two languages only — English and Chinese; | NFTs are not available |
| the only fiat is the US dollar. |
OKCoin vs Kraken: Safety and Regulation
| Regulated By: | OKCoin | Kraken |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
Financial Crimes Enforcement Network (FinCEN), FINTRAC, MFSA |
FinCEN (USA), FINTRAC (Canada), FCA (Great Britain), FSA (Japan), AUSTRAC (Australia) |
OKCoin vs Kraken: Trading Conditions
| Trading Conditions | OKCoin | Kraken |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
OKCoin |
Web, Mobile, Mobile Pro |
Max Leverage (Futures) |
44621 |
1:5 |
Number of Markets |
114+ |
374 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptocurrencies, USD |
USD, EUR, GBP, AUD, CAD, CHF, JPY + 98 Crypto |
OKCoin vs Kraken: Fees
Trading Fees
| Fee | OKCoin | Kraken |
|---|---|---|
Max Maker |
0.09% |
0.16% |
Max Taker |
0.20% |
0.26% |
Min Maker |
0 |
0 |
Min Taker |
0.02% |
0.1% |
Debit/Credit Card Purchase Fee |
3.99% |
3.75% + $0.25 |
Futures Trading fees
| Fee | OKCoin | Kraken |
|---|---|---|
Max Maker |
Not supported |
0.02% |
Max Taker |
Not supported |
0.05% |
Min Maker |
Not supported |
0 |
Min Taker |
Not supported |
0.01% |
Non-Trading Fees
| Fee | OKCoin | Kraken |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
TrustPay: SEPA €0.20 + 0.3%; Credit and debit cards (Visa & Mastercard) 3,99%, |
$0-$10 |
Bank Transfer Withdrawal Fee |
TrustPay: SEPA €1.5, Finductive: SEPA €8.5, Royal Business Bank - international wire $35, |
4-35 USD |
Debit/Credit Card Withdrawal Fee |
Not supported |
3.75% + $0.25 |
BTC Withdrawal Fee |
No |
0.00001 BTC |
Inactivity Fee |
No |
No |
OKCoin vs Kraken: Trading Assets
| Asset Name | OKCoin | Kraken |
|---|---|---|
Overall |
114+ |
167+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
No |
No |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
No |
For non US Users |
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 |
No |
OKCoin or Kraken: Investment Programs
| Asset Name | OKCoin | Kraken |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Interest income |
No |
Trading Platforms: Kraken or OKCoin
| OKCoin | Kraken | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Kraken or OKCoin
| OKCoin | Kraken | |
|---|---|---|
SMS Based 2 FA |
No |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Kraken or OKCoin
| OKCoin | Kraken | |
|---|---|---|
Indicators |
Yes |
50+ |
Drawing tools |
Yes |
16+ |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Kraken or OKCoin
| OKCoin | Kraken | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Kraken or OKCoin
| OKCoin | Kraken | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
No |
OKCoin vs Kraken: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | OKCoin | Kraken |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes (Only Deposit) |
Yes |
Electronic Wallets |
No |
No |
Crypto |
Yes |
Yes |
OKCoin vs Kraken: Research
| Research Type | OKCoin | Kraken |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
OKCoin vs Kraken: Education
| Education Type | OKCoin | Kraken |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Kraken vs OKCoin: Support
| Support Features | OKCoin | Kraken |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
OKCoin vs Kraken: Crypto Bonuses and Promo
| Promo | OKCoin | Kraken |
|---|---|---|
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. |
up to $1000 per refferal |
|
Your capital is at risk.
|
Top 5 Reviews on Kraken
-
Comment
Kraken offers a wide range of cryptocurrencies and has a solid reputation in the industry, but serious issues with usability, customer support, and reliability detract from its appeal as a crypto exchange option.
-
Comment
I have to say they are scammers. He believed in Kraken, held coins on their crypto exchange. I recently found out that they deducted 50% of the balance from my trading account because I had not logged into my account for a long time. Who does this! And this without warning, of course!
-
Comment
It used to be not bad here, but every year the Kraken exchange dies down, as its turnover falls. Now it cannot be said that this is a large exchange, which it once was ...
-
Comment
I tried different exchanges, eventually settled on Kraken. Here are the best conditions for me. I have my favorite tools, the platform is understandable, I figured it out quickly and so far (for six months) nothing has lagged. The commission is also adequate, often below the market. Analytical materials are generally informative. But I’ll clarify right away: I was initially interested in a broker for active independent trading. There are no investment programs in Kraken, and that suits me. If you want extra income, then this is not your option, don't waste your time. I won’t say anything about beginners: on the one hand, Kraken provides basic training, but you can’t call the support service, except for a ticket or a chat.
-
Comment
I see that many people praise the Kraken exchange for its reliability and comfortable conditions for cooperation. I've been using this platform for about a year, and it's really good here. I would also like to note a high-quality trading terminal, it is simple and at the same time functional, even take profit and stop loss are integrated. The Kraken exchange has many advantages, so I will not list all of them. You will see for yourself if you register. I just want to name the cons such as the lack of telephone communication and investment programs. Also, the exchange favors active traders.
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.