Comparison of Okx vs 50X [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Okx vs 50X comparison!

Your expert: Alejandro Borja

Okx

Your expert: Xavier Tarrasó

50X

Main points

Fees

≤0,10%

Earns

Customer service

4/5

0.20%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Comparison of fees

Rating

4.3 – Competitive fees with additional rewards for using the native token.

3.8 – Competitive fees but slightly higher than industry leaders.

Level

≤0,10%

0.20%

Brief explanation

OKX structures its commission system to be competitive and favorable for active traders, employing a tier-based fee schedule that incentivizes higher trading volumes with lower fees. The platform charges different rates for makers and takers, starting generally around 0.1% and potentially decreasing with increased trading activity. This setup not only rewards users who trade more frequently but also ensures that costs are kept manageable for smaller volume traders. Additionally, OKX occasionally offers discounted fees or promotions on trading fees, further enhancing its appeal to cost-conscious traders looking to maximize their trading profits.

50x employs a relatively straightforward commission structure designed to accommodate both casual and serious traders. The exchange charges a standard trading fee that is competitive with industry norms, yet it varies slightly depending on the trading pair and the volume. Importantly, 50x utilizes a tiered fee system; thus, higher trading volumes benefit from lower fees. This approach encourages active trading and can be particularly advantageous for traders planning to execute large volumes of transactions.

Okx

Security Methods: OKX employs industry-leading security practices including cold storage for the majority of its funds, mandatory two-factor authentication, and regular security audits to protect user assets and data.
Trading Volume and Liquidity OKX consistently ranks among the top exchanges globally in terms of trading volume and liquidity, ensuring efficient market movements and availability of assets for trading at any given time.
Reputation and Reviews: The exchange has built a strong reputation in the crypto community, supported by positive reviews from users and industry experts alike, highlighting its reliability and effectiveness as a trading platform.
Transparency: OKX maintains a high level of transparency in its operations, providing clear and detailed information about its trading processes, fee structures, and the status of user assets.
Withdrawal and Deposit Policies: OKX offers robust and user-friendly withdrawal and deposit policies, ensuring users can easily access their funds with confidence in the security and speed of transactions.

50X

Year Founded: The recent inception of 50x positions it as a modern platform designed with the latest technologies and a fresh approach to cryptocurrency trading.
Security Methods: 50x implements advanced security protocols, including multi-factor authentication and encryption, to protect user data and funds.
Trading Volume and Liquidity: Despite being a newer player, 50x is gradually increasing its trading volume and liquidity, which is essential for executing trades efficiently and minimizing slippage.
Reputation and Reviews: Early reviews highlight 50x's innovative trading features and technology, particularly praising the flexibility offered by its Any2Any trading system.
Customer Service: 50x has committed to a strong customer support framework, providing users with multiple channels for assistance and fast response times, which is crucial for building trust with users.

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Account Minimum

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Direct link to the website

Product selection

Native token

Token OKB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Aux Cayes FinTech Co. Ltd.

AXX Exchange

Regulation

Not regulated

Year founded

2014

2018

Founder

Star Xu

Alexander Udovichenko

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Okx	FEATURES	50X
OKX allows relatively low minimum trade volumes, making it accessible for beginners to start trading without a significant initial investment.	Minimum Trade	Allows small minimum trades, suitable for beginners testing strategies.
OKX offers competitive trading fees that decrease with higher trading volumes, making it economical for both small and large traders.	Trading and Transaction Fees	Competitive fees, but could be better explained on the website.
OKX supports a wide array of cryptocurrencies, with hundreds of options available, catering to a diverse range of trader preferences.	Number of Cryptocurrencies	Offers a wide variety, though not the largest selection available.
The platform excels in offering a vast selection of crypto-to-crypto trading pairs, providing ample trading opportunities for users.	Crypto-to-Crypto Trading Pairs	Extensive pairs due to Any2Any technology, facilitating unique pairings.
OKX provides clear information on its operations and fees, although there could be improvements in accessibility of detailed data regarding liquidity and internal processes.	Website Transparency	Needs more clarity on fees and liquidity sources.
The OKX Debit Card is highly functional and offers a practical solution for those looking to bridge the gap between crypto and traditional spending. While it provides significant convenience and extends the usability of cryptocurrencies, the rating reflects that while the card is beneficial, it may not offer as broad a range of extra benefits (like rewards or cashbacks) compared to some other exchange cards in the market.	Credit/Debit Card	Lacks an exchange card, missing out on potential benefits and convenience for users.
The exchange offers secure storage options, including cold storage, ensuring a high level of security for user funds.	Storage Offering	Provides secure storage solutions, though details are scarce.
OKX provides various staking options and rewards, though the benefits and returns might vary and are not always as high as some competitors.	Staking and Rewards	Offers staking options, but fewer rewards compared to competitors.
Both the mobile app and desktop platforms of OKX are highly rated for user interface, ease of use, and comprehensive features.	Mobile App and Desktop	Both platforms are robust but require a learning curve.
Customer service is available and functional but often criticized for slow response times during high-demand periods.	Customer Service	Generally responsive with multiple support channels, though not 24/7.
OKX offers multiple deposit and withdrawal options with reasonable fees and processing times, though improvements could be made to enhance user experience during peak times.	Deposit and Withdraw	Supports multiple methods but feedback suggests delays during high traffic.

Key features

Analysis tools

Advanced charting tools, technical analysis

Advanced charting tools, technical indicators

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

Margin trading, futures trading, staking, OKX Earn

Margin trading, futures contracts, staking rewards, advanced charting tools

Anonymity

Key points

Available cryptocurrencies

300+

100+

User-friendliness

OKX features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

50x offers a user-friendly interface that is intuitive for both beginners and experienced traders. The platform’s design emphasizes simplicity without compromising on advanced features, making it easy to navigate and execute trades efficiently.

Value for money

Offers excellent value for money with low trading fees, a wide range of supported cryptocurrencies, and advanced trading features.

Provides good value for money with competitive trading fees and a wide range of supported cryptocurrencies, making it a cost-effective choice for traders.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

United States, Canada, United Kingdom, Australia, Singapore

Best for

Suitable for all types of investors, from beginners to advanced traders, due to its low fees, wide range of supported cryptocurrencies, and advanced features.

Ideal for experienced traders looking for competitive fees and a wide range of supported cryptocurrencies, as well as those interested in margin trading.

Base currencies available

USD, CNY, BTC, USDT

USD, BTC

Account

Trading

OKX offers a wide range of cryptocurrencies, advanced trading tools, and competitive fees. It provides high liquidity and a user-friendly interface, suitable for both beginners and experienced traders.

50x offers a robust trading platform with a wide range of cryptocurrency pairs. The interface is user-friendly, making it suitable for both beginners and experienced traders. Security features are strong, but liquidity might be lower compared to larger exchanges.

Deposit and withdrawal

OKX offers a comprehensive range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed efficiently, with minimal fees .

50x offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Processing times are generally quick, but bank transfers can take several days. Fees are minimal.

Account opening process

OKX offers a user-friendly and secure account opening process. Users need to submit personal information, complete KYC verification, and typically get their account approved within a day. It’s efficient and reliable.

Opening an account with 50x is straightforward and fully digital. The process involves filling out basic personal information, verifying your identity, and typically takes less than a day to complete. No significant barriers to entry are noted.

KYC required?

Yes

Customer Service

OKX offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

50x provides customer support through email and live chat. Responses are generally quick and helpful, but phone support is not available, which may limit immediate assistance for urgent issues.

Security

OKX ensures security with 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, providing a secure environment for investors.

50x prioritizes security with two-factor authentication (2FA) and encryption. The platform has a good track record but lacks regulation by top-tier authorities, which may be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend OKX for users looking for a diverse trading experience with a wide range of cryptocurrencies and trading pairs. The platform’s robust security measures and competitive fee structure make it a reliable choice for both newcomers and seasoned traders. However, potential users should be aware of its limited availability in the U.S. and occasionally slow customer service, which are areas ripe for improvement.

Xavier Tarrasó

As an expert reviewing 50x, I find its innovative Any2Any trading technology particularly compelling for those interested in exploring a wide range of crypto pairings. This feature alone sets it apart in a crowded market. However, newcomers should be prepared for a learning curve due to the platform’s complex interface. I recommend 50x for traders who have some experience and are looking for new trading opportunities in a secure and technically advanced environment.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.