As Bitcoin successfully breaks through the $100,000 mark at the end of 2024, the cryptocurrency market shows a stable and positive trend this year, attracting more and more people into the cryptocurrency field. It is well known that the storage and trading of cryptocurrencies rely on centralized exchanges; in other words, exchanges are the bridge connecting the Web3 world and the prerequisite for participating in arbitrage in the crypto space.
As a novice user, there are usually questions like: Which exchange should I choose? Which exchange is safer, more convenient, and more beginner-friendly? Today, we will explore the topic of which is better between Binance and OKEx, analyzing from multiple aspects. First, the most concerning issue for users is the safety of funds; second is the user-friendliness of the interface; then there are functional differences, such as contracts and options; next is the level of trading fees; finally, whether there are issues like "scalping," such as the rigor of the review process for listing new tokens.
Both OKEx and Binance are centralized exchanges, so the safety of funds is the most concerning issue for users. Here, it is necessary to introduce the concept of reserves: the reserves of a centralized exchange refer to the certain amount of digital assets that the exchange retains on the platform to meet user withdrawal demands and liquidity needs during its operation. These assets can be cryptocurrencies (such as Bitcoin, Ethereum, etc.) or fiat currencies (such as euros, dollars).
Reserves play several very important roles in the operation of centralized exchanges:
Providing liquidity.#
Reserves can be used to support the trading activities of the exchange, ensuring that market liquidity is sufficient. When users trade, the exchange can utilize reserves to meet buy and sell demands, ensuring smooth transactions.
Meeting withdrawal demands.#
After trading, users may withdraw assets to external wallets or bank accounts. Reserves are used to meet withdrawal demands, ensuring that users can smoothly withdraw their assets.
Security assurance.#
Reserves are a safety measure for exchanges to cope with potential risks. By retaining asset reserves, exchanges can better manage risks and prevent fund shortages.
OKEx and Binance regularly publish third-party reserve audit reports every month, allowing users to check their fund status and audit results. This indicates that fund safety is guaranteed, at least ensuring that withdrawals are not affected. Therefore, in this regard, both have no issues or differences.
Which platform is easier to use?#
"Ease of use" refers to the user interaction experience. To be precise, there is no absolute better or worse; it depends on whether the user's first impression suits them. We compare the two apps: Binance on the left and OKEx on the right. Upon entering the homepage, the functions are basically similar.
Comparing individual market pages, there is basically no difference between the two; all indicators are complete; there may be slight differences in interaction, but the differences are minimal.
From the screenshot comparison, it can be seen that the differences between the two are not significant; the key lies in personal preferences and usage habits, with other interaction differences being minor.
Which has lower trading fees?#
Centralized exchanges charge a fee for each transaction, so this is an important comparison item when choosing an exchange. Users primarily trade in spot and contracts, so we focus on comparing the fees in these two areas.
Spot trading fees#
Binance's fee rules: Ordinary users are defined as those with a spot trading volume of less than $1 million within 30 days. The taker and maker fees are both 0.1% (1/1000). If you do not understand the meaning of taker and maker, you can refer to previous articles. Using BNB to pay fees can enjoy a 25% discount, which is 0.075% (7.5/10000).
OKEx's fees are different: The maker fee for ordinary users is 0.08% (8/10000), lower than Binance's 0.1%; the taker fee is the same at 0.1%. However, when using BNB for fee deductions, both taker and maker fees are lower than OKEx; therefore, it is more cost-effective for ordinary users to choose BNB for fee deductions. When holding 200 OKB, OKEx's fees approach Binance's discounted level. Users need to operate to reduce fees.
For professional users, OKEx has lower fees; users with large trading volumes can even achieve 0 maker fees.
Contract trading fees#
Binance's contract rates: The maker fee for ordinary users is 0.2% (2/1000), and the taker fee is 0.5% (5/1000); using BNB for fee deductions can enjoy a 10% discount, making the maker fee 0.16% (1.6‰) and the taker fee 0.405% (4.05‰).
OKEx is the same as Binance without discounts; however, Binance can use BNB for a 10% discount, while OKEx requires holding more than 200 OKB to match Binance's level. The difference for ordinary users is not significant; for professional users, OKEx is better, as it can save on fees and possibly receive cashback.
What are the functional differences in trading scenarios between the two?#
In terms of trading functionality, both support basic functions such as spot trading, leveraged trading, contract trading, options trading, and financial services. The difference is that Binance offers liquidity mining, while OKEx does not; however, OKEx's financial services have similar options, so the overall difference is not significant.
The real difference lies in the supported cryptocurrencies. The cryptocurrencies supported by OKEx and Binance differ, and there are also differences in contract trading tokens; therefore, the biggest difference is that certain tokens may only be traded on Binance or OKEx.
Limited-time benefits—New users register to receive a guaranteed 20+ U Bitcoin blind box 🎁#
🎁 Register on OKEx, Binance, Huobi, Bitget, Bybit, Gate, Backpack, and other mainstream exchanges, and bookmark all mainstream exchanges' latest anti-loss domain on one webpage 👉🏻: https://vlink.cc
🔥 Solving the issue of accessing OKEx, Binance, Huobi, and other exchanges in mainland China#
Many exchanges' original domain names may be on a restricted list, or access speed may be affected due to servers being located overseas. Ordinary users often feel at a loss, even doubting the service interruption of exchanges; in reality, it is mostly due to the network environment rather than platform issues. To this end, exchanges like OKEx and Binance regularly update backup domain names to ensure users can access the official website through alternative addresses.
-
- OKEx backup domain Overseas OKEx - Requires VPN or Backup link
-
- Binance backup domain Binance
-
- Bitget backup domain Bitget
-
- Bybit backup domain Bybit/Bybitglobal
-
- Huobi HTX backup domain Huobi (Huobi/HTX)
-
- Gate backup domain Gate.io (Open Sesame)
🔥 Related reading#
2025 China's Top Ten Virtual Currency Trading Platforms Latest Ranking is Out 🔥【Worth Collecting】
🔥 Useful tools for finding gold dogs#
1️⃣ Axiom Dog-Charging Tool https://axiom.trade
2️⃣ Gmgn Dog-Charging Tool https://gmgn.ai
3️⃣ dbot Dog-Charging Tool https://app.debot.ai
4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com
Everyone is searching for#
How to buy Trump coin, WeChat buy Trump coin, buy Trump coin in China, buy Bitcoin with RMB, tutorial for buying Trump coin on exchanges, how to buy presidential coin, buy Bitcoin, Bitcoin, presidential coin, Trump coin, buy Bitcoin in China, trading exchanges, OKX download registration, domestic OKX recharge, Binance App registration, Binance App download, Binance platform buy coin tutorial, Binance registration, Binance airdrop registration, Binance Apple download, how to buy presidential coin, how to buy Dogecoin, buy Bitcoin with RMB, how to download OKEx, web3 airdrop, web3 zero airdrop, Bitget mainland download registration, OKEx passport registration, OKEx download, Binance download, cryptocurrency side business, OKEx contracts, how to recharge RMB on OKEx, how to recharge on OKEx, how to set up an NFT wallet, how to recharge RMB on Huobi, beginner's tutorial for cryptocurrency, btc8848.com, trading contracts Tony's mindset, contract leverage bit wave, DeFi mining, cryptocurrency airdrop, can cryptocurrency airdrops still be played, what to do if a contract is liquidated, how to buy presidential coins on OKEx and Binance, how to buy Ethereum on OKEx and Binance, how to play DeFi staking mining, can NFTs still be played, how to play web3 airdrop, how to mint inscriptions, how to mint runes, cryptocurrency beginner's entry, how to trade cryptocurrencies, can trading cryptocurrencies make money, cryptocurrency beginner's tutorial btc8848.com, can trading cryptocurrencies make money, what is contract leverage, DeFi mining, how to play cryptocurrency airdrop, OKEx OKX airdrop, node staking, liquidation, financial freedom, night investment heiyetouzi.xyz