Kraken offers a slightly greater variety of cryptocurrencies and pairs (over 90 coins, over 400 pairs), so users who value a large selection and advanced traders who seek margin will prefer Kraken over Okcoin. US investors and traders are allowed to use Gemini with KYC verification only, since Gemini is regulated and okcoin review based in the USA, however as a result, Gemini offers no margin or futures products. Okcoin offers only spot offerings as well, and also does allow US investors.
- Coinbase has a wider range of services suited for both new users and advanced users with Coinbase Pro, while Okcoin focuses more on a smaller range of spot only products and institutional offerings that are done well.
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- Kraken offers a slightly greater variety of cryptocurrencies and pairs (over 90 coins, over 400 pairs), so users who value a large selection and advanced traders who seek margin will prefer Kraken over Okcoin.
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Okcoin Spot Trading Fees
Binance requires full KYC now to trade even spot products, and Okcoin requires full KYC as well to use. Advanced traders and intermediate users alike who value a large selection of cryptocurrencies, products like staking, lending, and more, competitive fee structures, and futures and margin products will probably prefer Binance. Traders looking solely for the most advanced trading options such as high leverage margin and futures products specific to crypto only will prefer Binance, as it offers many USDT futures pairs not found anywhere else besides potentially OKX or FTX.
Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Okcoin. If an active trader wishes to trade other instruments beyond crypto and prefers not to KYC, he or she may prefer other exchanges such as OKX, but if he or she prefers a much larger selection of crypto only instruments and does not mind KYC, Kraken wins. Users can also enjoy market maker rebates as well as high volume trading incentives with lower fees. They also use a microservices architecture to authenticate and authorize every access request that is made to a user’s account.
OKCoin.cn Markets‘ Analysis
In 2013 when the Chinese government cracked down on cryptocurrency exchanges and businesses, the exchange had to halt trading for local customers that year and again in 2017. When China banned all ICOs, Okcoin decided to halt CNY fiat pairs. As of today, Okcoin operates its exchange for non-Chinese customers around the world.
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It is still a private company with Series B funding with at least $10M in funding. From making your first crypto trade to becoming a seasoned trader, you’ll have us to guide you through the process. Switch to our Europe site for products available in your region.
Okcoin Fees
Okcoin offers a product called Earn for users to earn crypto rewards with DeFi and staking. There are options available at this time for users to earn up to 265% APY on select coins, with a range of fixed and flexible terms. Okcoin also offers mobile apps for users to be able to trade on the go for both Android and iOS. There is also an affiliate program for users to receive up to 30% of their trading fees refunded. As far as the exchange and trading interface itself, advanced charting is integrated with TradingView and order books and advanced order types are present for more advanced traders to use. The best parts of Okcoin are its overall comprehensive exchange services for traders and investors that put it in the top 10 exchanges by volume around the world.
These are the project’s quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project. Gemini is focused on its holistic crypto financial services for Americans primarily, while Okcoin serves global markets, but both exchanges are otherwise very similar in their scope of services. Coinbase’s fee schedule starts higher and does not reduce as fast as Okcoin’s does, so fees are a clear win for Okcoin, with strong marker and volume incentives. Active traders who need access to order books and advanced charting functionality may prefer using Coinbase Pro, FTX, Binance, or KuCoin though their fee structures slightly differ. The main disadvantage of Okcoin is its relative lack of crypto financial services when compared to a large competitor exchange such as Binance. Its options for staking and earning yield or interest are much more limited in comparison.
It is a quantitative metric calculating how many cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours on this specific crypto exchange. Gemini offers 62 coins and 86 trading pairs which is about the same as the amount offered by Okcoin. Another similarity is in Gemini’s presence of crypto financial services offerings, which are also similar to Okcoin’s Earn product. In addition, the exchange’s total selection of trading products is limited to only a moderate amount of spot trading options. As such, Okcoin cannot compare to more derivatives heavy exchanges such as OKX, FTX, or Binance.
Okcoin vs Binance
Lastly, Okcoin also runs a grants program for supporting developers, especially those working on bitcoin core development. There is also an exclusive trading program called Okcoin Premier for professional traders and business partners. Premier members receive access to dedicated coverage, accelerated fiat processing, and a range of other exclusive product features.
- Okcoin offers deep liquidity and quick executions with this service.
- FTX is known for its extensive futures pairs and top-class matching and liquidation engine for advanced derivatives traders, and traders can use third party bots at FTX as well, while Okcoin does offer charting as well at a high level.
- Some countries such as the EU, UK, and Singapore require Level 3 KYC to use Okcoin.
- They also use a microservices architecture to authenticate and authorize every access request that is made to a user’s account.
- Coinbase is best designed for buy-and-hold investors or casual to intermediate cryptocurrency users—Coinbase offers 402 pairs vs. Okcoin’s 64 coins and neither offer margin or futures for US users.
However, the fee schedule at Okcoin is quite competitive and goes head-to-head with these other top exchanges, so it still works well for advanced and high volume traders. It’s an overall rank of the specific exchange compared to all other crypto exchanges in the market. International users who can use FTX International may prefer FTX. US users trading at FTX US need to do KYC procedures and may prefer it over Okcoin as well, but the two are similar in strengths. Fees will be more competitive at FTX as a trader’s volume is higher and the fee structure is transparent and clear, since FTX offers both fee incentives for volume and for holders of its FTT token.
Derivatives traders who want to trade margin, extensive crypto futures pairs, or leveraged tokens and options will prefer FTX since Okcoin offerings here are nonexistent for US and EU users. As far as its crypto offerings, the exchange offers only spot trading at this time, with 64 coins and 77 trading pairs offered. Investors can use the automatic investing features for recurring buys. Users of all types can fund their account with payment rails available via Apply Pay and instant deposits, as well as with credit cards.
FTX is known for its extensive futures pairs and top-class matching and liquidation engine for advanced derivatives traders, and traders can use third party bots at FTX as well, while Okcoin does offer charting as well at a high level. Coinbase has a wider range of services suited for both new users and advanced users with Coinbase Pro, while Okcoin focuses more on a smaller range of spot only products and institutional offerings that are done well. The user’s trading fees are determined by trailing 30-day volume which is recalculated every day at midnight UTC+8. All volume is converted to USD using the exchange rate of the digital asset at the time of the transaction. It is a US-based cryptocurrency exchange that launched in 2013 that serves over 100K registered investors in 190+ countries.
Okcoin also offers institutional services for institutions such as asset managers and hedge funds, intermediaries, liquidity providers, trading firms, and more. This is done with the exchange’s more advanced trading platform geared for institutional use, 24/7 global client services, flexible settlement options, and account management APIs. Kraken offers margin trading at up to 5X leverage even for US investors and several other margin offerings, while Okcoin offers none, so if margin access is a concern then Kraken is a clear choice. US users will prefer Kraken for its regulatory compliance and strong track record if they are traders especially.