OKEx vs ByBit: Fees, Coins, Safety Comparison
Feature | OKEx | ByBit |
---|---|---|
Overall |
4.5 |
4.9 |
4.4 |
3.1 |
|
5.0 |
5.0 |
|
4.6 |
5.0 |
|
Investment Instruments |
5.0 |
5.0 |
Platforms and Charting Tools |
4.2 |
4.9 |
Deposit and Withdrawal |
4.1 |
4.0 |
Research |
3.9 |
4.2 |
Education |
4.7 |
4.1 |
Support |
4.1 |
4.5 |
Bonuses |
4.2 |
5.0 |
Your capital is at risk.
|
Your capital is at risk.
|
OKEx vs ByBit: Pros and Cons
The OKEx crypto exchange is a platform for exchanging and trading cryptocurrencies, that offers over 400 trading pairs, including pairs with fiat funds. Bitcoin, Litecoin, Ethereum, Cardano, as well as other cryptocurrencies and tokens are traded on the platform. Funds can be deposited from debit cards (Visa, MC), bank accounts, cryptocurrency, and e-wallets. There are spot and margin trading, futures, perpetual swaps, options, and DEX. Four investment solutions with flexible periods are presented.
The Bybit cryptocurrency exchange first appeared in 2018. It is a standalone derivatives trading platform with inverse and perpetual futures contracts with up to 1:100 leverage. Quarterly USD futures are available at Bybit in combination with BTC, ETH, XRP, EOS, LTC, and multiple tokens. There is a linear futures contract on BTC/USDT. The exchange has several technological advantages: it provides for mutual insurance of market participants against possible sharp price movements. There are offsets for long and short positions, and there is market depth.
OKEx | ByBit | |
---|---|---|
Overall Pros | Low trading fees | Trading With Leverage up to 1:100 |
350+ supported coins | Derivatives, NFT Available | |
spot and margin trading, futures and other options; | Zero fee spot trading | |
Crypto academy | Deposit Fee – 0% | |
universal cryptocurrency wallet and mining pool; | Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | |
training academy with detailed courses and guides; | Strong Research | |
low commissions that are additionally reduced with an increase in trading volume. | ||
Overall Cons | Limited access in the US | No tier-1 regulation |
No Fiat Deposit and Withdrawal |
OKEx vs ByBit: Safety and Regulation
Regulated By: | OKEx | ByBit |
---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
Regulated in 3 States in the USA |
No |
OKEx vs ByBit: Trading Conditions
Trading Conditions | OKEx | ByBit |
---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
OKEx |
ByBit |
Max Leverage (Futures) |
1-100 |
1-100 |
Number of Markets |
362 |
320 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
USD, EUR, GBP and 30+ fiat currencies, crypto |
Crypto |
OKEx vs ByBit: Fees
Trading Fees
Fee | OKEx | ByBit |
---|---|---|
Max Maker |
0.08% |
0.1% |
Max Taker |
0.1% |
0.1% |
Min Maker |
0.06% |
0.1% |
Min Taker |
0.08% |
0.1% |
Debit/Credit Card Purchase Fee |
0 |
0 |
Futures Trading fees
Fee | OKEx | ByBit |
---|---|---|
Max Maker |
0.02% |
-0.025% |
Max Taker |
0.05% |
0.075% |
Min Maker |
0.015% |
-0.025% |
Min Taker |
0.03% |
0.075% |
Non-Trading Fees
Fee | OKEx | ByBit |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
Not Allowed |
- |
Debit/Credit Card Withdrawal Fee |
Only payment system fee |
0 |
BTC Withdrawal Fee |
0.0005 BTC |
0.0005 BTC |
Inactivity Fee |
No |
No |
OKEx vs ByBit: Trading Assets
Asset Name | OKEx | ByBit |
---|---|---|
Overall |
362+ |
320+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
Yes |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
Yes |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
Yes |
Yes |
NFT |
Yes |
Yes |
Crypto ETF |
No |
No |
OKEx or ByBit: Investment Programs
Asset Name | OKEx | ByBit |
---|---|---|
Staking |
Yes |
Yes |
Mining pool |
Yes |
Yes |
Managed Accounts |
Yes |
No |
MAM/PAMM |
No |
No |
Other |
P2P loans |
Liquidity mining, Principal-Protected Investment, Guaranteed yield savings |
Trading Platforms: ByBit or OKEx
OKEx | ByBit | |
---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: ByBit or OKEx
OKEx | ByBit | |
---|---|---|
SMS Based 2 FA |
Yes |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: ByBit or OKEx
OKEx | ByBit | |
---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: ByBit or OKEx
OKEx | ByBit | |
---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: ByBit or OKEx
OKEx | ByBit | |
---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
No |
No |
Trailing Stop |
No |
No |
OKEx vs ByBit: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | OKEx | ByBit |
---|---|---|
Bank Transfer |
No |
No |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes |
Yes |
OKEx vs ByBit: Research
Research Type | OKEx | ByBit |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
OKEx vs ByBit: Education
Education Type | OKEx | ByBit |
---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
Yes |
No |
ByBit vs OKEx: Support
Support Features | OKEx | ByBit |
---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
No |
Telegram |
OKEx vs ByBit: Crypto Bonuses and Promo
Promo | OKEx | ByBit |
---|---|---|
Crypto Bonus |
100 satoshi for Make a demo trade,Subscribe to an Earn product, Trade any amounts of crypto, Refferal welcome bonus up to $100 |
Complete tasks and get up to $580 |
Affiliate Program |
Up to $500 |
$20 per invited user, up to $50 deposit bonus |
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on ByBit
-
Comment
Bybit educational resources have really helped my early career in crypto trading. The trainings from videos, and seminars is helping me learn how to make more informed decisions on traders. Also guides to trading in bear markets, how to protect your account, a guide to MT4 crypto trading, are informative and I am really improving as a trader. There is also the ByBit Learn portal which is where I got to learn how to use the platform. The demo trading interface is rich and friendly but it took me time to carefully identify each feature. Although I don’t know how some of these indicators work for now but I know I will over time.
-
Comment
The Bybit designed for every level of crypto traders. the simple user interface has been helpful. I only have one concern but I cannot say it is an issue at the moment. This has to do with when i reached out with the customer care to inquire if i can trade futures. The response that i can trade a range of USDC-settled contracts including both USDC Perpetual and USDC Futures Contracts came, but when it did i was off my screen and attending to other things. Can't say if the slow response is due to network or other external issues. I don't know if it is too early to conclude that the customer service is slow.
-
Comment
Guys, it is normal to see trading as a game of chance. Nonetheless, iif you can learn how to use analyze financial markets using tools like line charts, indicators, and other trading tools, you will minimize the rate at which you lose out on profitable trades when you trade with real money. When you register on a platform like Bybit, get familiar with the various trading tools available and how to use them. There are also useful tools you can use to see what will happen if a trade goes your way or against you. Just like the one tool I use daily before I open a trade position which is the pre order calculator. I use this tool to calculate and know the possible profit and loss and ROI if I open trade with any strategy I created
-
Comment
At first I doubted whether to work with Bybit. The conditions here are favorable, but I was still afraid to work with the company I knew nothing about. But I decided to try with small amounts and realized that the broker works well. The money was withdrawn quickly and the fee was minimal, so I stopped being afraid. I’ve been a grateful client of this company for six months now!
-
Comment
I was looking for a reliable exchange and paid attention to Bybit, which has long been on the market and has a good reputation. My friend, who has been trading on Bybit for many years, also recommended this company. Now, after a few years I consider myself a more experienced trader and I am sure that I chose the right one. I am pleased with Bybit’s work, although the income is not too high, but stable. Withdrawals are very fast, but everything depends on the chosen payment system.
Top 5 Reviews on OKEx
-
Comment
Signed up for a live account on OKX recently, and the fee structure is a little confusing. There are maker/taker fees, VIP tiers with different rates... my head started spinning. Took me some digging to understand exactly how much I'd be paying for each trade. Maybe they could explain it all a bit simpler, especially for beginners who are new to the whole crypto trading thing.
-
Comment
Been playing around with OKX for a while now, mostly on their demo account. Great for getting the hang of the platform and trying out different trading strategies without risking real money. But the demo seems a bit limited. For example, it doesn't have all the features available on the live account, like margin trading. Wish you could test out everything before jumping in with real cash. Kind of feels like training wheels you gotta eventually take off.
-
Comment
OKX’s platform itself is pretty intuitive, which is nice. I like how you can easily exchange between different cryptocurrencies with zero fees. Plus, the earn rates for locking your crypto for a fixed time are quite attractive. However, one thing that really bugs me is the withdrawal process. It's just too complicated for my liking. And another downside is that my country's fiat currency isn't listed, which makes things a bit inconvenient. Also, I noticed that some coins I wanted to trade weren't showing up in the search results, even though they're listed on Coinmarketcap. It's a bit confusing, to be honest. Overall, OKX has its pros and cons, but it's been okay for my crypto needs.
-
Comment
This is the first cryptocurrency platform I got acquainted with when I started learning about crypto. OKX exchange has been operating for several years and has its popularity among crypto investors. I can't understand why there are so many negative reviews. I've been working with the exchange for almost two years, consistently withdrawing cryptocurrency. Of course, there aren't so many diverse services here, but it's enough for me.
-
Comment
There are a lot of negative reviews about the OKX exchange. Many of the positive reviews are written to deceive users. It's a proven fact that the exchange may not pay out funds. Additionally, OKX may block user accounts for unfounded reasons. Therefore, I believe it's better not to take risks and not to open trading accounts here, let alone transfer money.
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.