Comparison of Bithumb vs Okcoin [ 2024 ]

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

Your expert: Alejandro Borja

Bithumb

Your expert: Xavier Tarrasó

Okcoin

Main points

Fees

0,10%/0,15%

Earns

Yes

Customer service

4/5

Fees

≈ 0,10%/0,20%

Earns

Customer service

4/5

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Comparison of fees

Rating

3.9 – Competitive fees but variable depending on the trading volume.

4.2 – Low fees with additional benefits for high-volume traders.

Level

0,10%/0,15%

≈ 0,10%/0,20%

Brief explanation

Bithumb structures its trading fees to accommodate both high-volume traders and casual users, making it an attractive platform for a broad range of investors. The fee system is tiered, based on the user’s 30-day trading volume, which incentivizes frequent trading and higher volumes. Fees start relatively low compared to industry averages, with maker fees often being lower than taker fees, which benefits those who add liquidity to the market. This structure not only supports active traders but also ensures that the exchange remains competitive and accessible to newcomers. The clarity and competitiveness of these fees contribute significantly to Bithumb’s appeal in the global crypto trading landscape.

Okcoin’s commission structure is designed to be competitive within the cryptocurrency exchange market, balancing affordability with the provision of quality services. The exchange operates with a tiered fee system where trading fees vary based on the user’s trading volume, incentivizing more active traders with lower fees. Transaction fees for buying and selling cryptocurrencies are generally in line with industry averages, though not the lowest available. While deposits are typically free, withdrawals incur a fee that varies depending on the currency being withdrawn and the method used, which ensures operational efficiency and security in fund transfers. This approach to commissions allows Okcoin to maintain a balance between accessibility for new traders and cost-effectiveness for high-volume traders.

Bithumb

Year Founded: Established in 2014, Bithumb has a long-standing presence in the cryptocurrency market. This longevity signifies stability and experience in handling a dynamic and sometimes volatile market, providing a solid foundation of trust among its users.
Security Methods: Bithumb has implemented robust security measures, including multi-layered security systems and regular updates to safeguard against new types of cyber threats. These rigorous security practices help ensure the safety of user funds and personal information.
Volume Managed and Trading Volume and Liquidity: Bithumb consistently ranks among the top exchanges globally in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and reliability of the platform in the eyes of a large user base.
Reputation and Reviews: The exchange has built a solid reputation over the years, backed by positive reviews from many of its users. This reputation is supported by Bithumb's responsiveness to past challenges and its ongoing commitment to improve user experience and security.
Customer Service: Bithumb offers extensive customer support with 24/7 access, including real-time assistance for resolving issues. Effective customer service enhances user trust by ensuring that assistance is readily available whenever needed, which is crucial in the fast-paced environment of cryptocurrency trading.

Okcoin

Year Founded: Okcoin was established in 2013, demonstrating a long-standing presence in the cryptocurrency exchange market which underpins its reliability and experience.
Security Methods: Okcoin prioritizes user security with robust measures including SSL encryption, cold storage of assets, and two-factor authentication, ensuring a secure trading environment.
Possible Regulation: The platform adheres to regulatory standards in multiple jurisdictions, including the United States, which provides a framework of compliance and operational integrity.
Reputation and Reviews: Okcoin enjoys a solid reputation in the crypto community, underscored by generally positive reviews from users praising its user-friendly interface and reliable service.
Trading Volume and Liquidity: Okcoin offers substantial liquidity and trading volume, which ensures that users can execute trades efficiently and at the true market price, minimizing slippage and providing better trade executions.

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Features	Bithumb	Okcoin
Minimum Trade	Bithumb allows relatively low minimum trades, accessible for beginners.	Okcoin allows for relatively low minimum trade volumes, making it accessible for beginners without requiring large initial investments.
Trading and Transaction Fees	Fees are competitive but can be complex and vary by transaction type.	Okcoin's fees are competitive within the industry, but they are not the lowest available, which could be improved to attract more users.
Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, catering to diverse trader needs.	While Okcoin supports all major cryptocurrencies, its selection of altcoins is somewhat limited compared to larger exchanges.
Crypto-to-Crypto Trading Pairs	Provides a substantial number of trading pairs, enhancing trading options.	The platform offers a decent range of crypto-to-crypto trading pairs, though it lacks the variety seen in more comprehensive exchanges.
Website Transparency	Generally transparent but could improve in detailing fee structures.	Okcoin provides clear information on fees and security practices, though details on corporate governance could be more comprehensive.
Credit/Debit Card	Bithumb does not provide an exchange card for in-store purchases or associated benefits, which limits its utility for everyday transactions compared to some other exchanges offering this feature.	While Okcoin provides a range of services to facilitate cryptocurrency trading and management, the absence of an exchange card means users may miss out on the convenience and benefits that such cards typically offer, like easy conversion of cryptocurrencies to fiat for everyday transactions.
Storage Offering	Provides secure storage options with advanced security features.	The exchange offers secure storage options with a majority of assets kept in cold storage, enhancing security for user funds.
Staking and Rewards	Offers competitive staking options and rewards for users.	Currently, Okcoin has limited options for staking and rewards, which is an area ripe for development to enhance user returns.
Mobile App and Desktop	Excellent user interface on both mobile and desktop platforms.	Okcoin provides robust mobile and desktop platforms that are intuitive and user-friendly, suitable for traders of all experience levels.
Customer Service	Exceptional customer support with 24/7 availability and multiple languages.	Customer service is available, but response times can vary. Improving responsiveness and support hours could boost user satisfaction.
Deposit and Withdraw	Efficient processes, though some users report delays during high traffic.	Deposits and withdrawals are handled efficiently on Okcoin, with support for multiple payment methods, though some users seek faster processing times.

Key features

Analysis tools

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, staking, Bithumb Cash rewards, institutional services

Margin trading, staking, Okcoin Earn, fiat on/off ramps

Anonymity

Key points

Available cryptocurrencies

150+

30+

User-friendliness

Bithumb provides a straightforward and user-friendly interface, making it easy for beginners to start trading cryptocurrencies. The platform’s design is clean and intuitive, facilitating a smooth trading experience.

Okcoin provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers good value for money with competitive fees and a wide selection of cryptocurrencies, though it may face regulatory challenges in some regions.

Delivers good value for money with low trading fees and a user-friendly interface, making it a cost-effective choice for traders.

Countries of operation

South Korea, United States, Canada, Australia, United Kingdom

United States, Canada, United Kingdom, Europe, Singapore

Best for

Best for South Korean traders looking for a platform with a wide selection of cryptocurrencies and competitive fees.

Best for traders seeking a user-friendly platform with low fees and a wide range of supported cryptocurrencies.

Base currencies available

KRW, BTC

USD, EUR, SGD, BTC

Account

Trading

Bithumb is one of South Korea’s largest exchanges, offering high liquidity and a wide range of cryptocurrencies. However, it has faced security issues in the past, which could be a concern for users.

OKCoin provides a secure platform with a good selection of cryptocurrencies and competitive fees. It offers advanced trading tools but can be complex for beginners.

Deposit and withdrawal

Bithumb offers various deposit methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive but can vary depending on the method used.

OKCoin supports a wide range of deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with competitive fees .

Account opening process

Bithumb provides a straightforward account opening process. Users need to submit personal information and verify their identity. The process is efficient and typically completed within a day, ensuring quick access to trading.

OKCoin provides an easy and fast account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes

Customer Service

Bithumb offers customer support through email, live chat, and a help center. The support team is responsive, but the lack of 24/7 availability may be a limitation for some users.

OKCoin provides comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Security

Bithumb offers robust security features, including 2FA, cold storage, and encryption. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some users.

OKCoin offers extensive security features, including 2FA, encryption, and cold storage. It is regulated by several financial authorities, making it a highly secure platform for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Bithumb for traders looking for a robust platform with a wide selection of cryptocurrencies and high liquidity. Its user-friendly interface makes it accessible for beginners, while the depth of its market and security measures provides peace of mind. However, potential users should be aware of its complex fee structure and ensure they understand the costs associated with trading on this platform. Overall, Bithumb is a solid choice for those looking to dive into the dynamic world of cryptocurrency trading.

Xavier Tarrasó

As an expert on our website, I recommend Okcoin for those new to cryptocurrency trading due to its user-friendly interface and robust security measures. While it offers a solid foundation for beginners with support for major cryptocurrencies and practical payment options, seasoned traders might find the range of tools and altcoin options somewhat limiting. If you’re starting out or primarily interested in major cryptocurrencies, Okcoin provides a reliable and secure platform to begin your trading journey.

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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.

Comparison of Bithumb vs Okcoin [ 2024 ]

Bithumb

Okcoin

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bithumb

Okcoin

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Bithumb and Okcoin