Comparison of Blocktrade vs Okcoin [ 2024 ]

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

Your expert: Alejandro Borja

blocktrade

Blocktrade

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Your expert: Xavier Tarrasó

okcoin

Okcoin

  • Threenvest valuation: 3,7/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Main points

Fees

0,30%

Earns

No

Customer service

3/5
≈ 0,10%/0,20%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

No

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

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

Level

0,30%
≈ 0,10%/0,20%

Brief explanation

Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.
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.

Blocktrade

blocktrade
Go exchange
  • Possible Regulation: Blocktrade operates under the regulatory oversight of the Estonian Financial Intelligence Unit and has a legal entity registered in Luxembourg. This adherence to stringent European financial laws ensures a high level of operational integrity and compliance, making it a trustworthy platform for traders.
  • Security Methods: The platform employs advanced security measures to protect user assets and data. These include the use of secure servers, encryption protocols, and a robust internal security framework. The commitment to security is crucial in gaining and maintaining the trust of users.
  • Transparency: Blocktrade is known for its clear and transparent operational practices. This includes straightforward disclosures about trading fees and the risks associated with trading cryptocurrencies. Such transparency is essential for building trust with users who value clear and honest communication.
  • Customer Service: Blocktrade offers dedicated customer support, providing users with timely and helpful assistance on a range of issues, from technical support to transaction inquiries. Good customer service is instrumental in building trust, as it ensures users that the exchange is responsive and attentive to their needs.
  • Trading Volume and Liquidity: While not among the largest, Blocktrade maintains a healthy trading volume and liquidity, which indicates a stable trading environment. This liquidity is vital for users to execute trades efficiently without significant price slippage, further enhancing trust in the platform’s capabilities.
  • Pros
  • Regulated by EU authority.
  • Supports fiat and cryptocurrency deposits.
  • Offers mobile trading applications.
  • Cons
  • Limited cryptocurrency selection.
  • No passive income features.

Okcoin

okcoin
Go exchange
  • 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.
  • Pros
  • Regulated in multiple jurisdictions.
  • User-friendly interface for beginners.
  • Strong commitment to security.
  • Cons
  • Limited advanced trading features.
  • Customer support response times vary.

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Blocktrade S.A.
OKCoin USA Inc.

Regulation

Regulated in the UE
Regulated in the EE. UU.

Year founded

2018
2013

Founder

Luka Gubo
Star Xu

Payment methods

Transfers

No
Yes

Mastercard

No
Yes

Wire transfer

No
Yes

Card

No
Yes

Comparative table

Blocktrade FEATURES Okcoin
Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
Minimum Trade
Okcoin allows for relatively low minimum trade volumes, making it accessible for beginners without requiring large initial investments.
Fees are competitive within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
Trading and Transaction Fees
Okcoin’s fees are competitive within the industry, but they are not the lowest available, which could be improved to attract more users.
Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
Number of Cryptocurrencies
While Okcoin supports all major cryptocurrencies, its selection of altcoins is somewhat limited compared to larger exchanges.
Offers a basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
Crypto-to-Crypto Trading Pairs
The platform offers a decent range of crypto-to-crypto trading pairs, though it lacks the variety seen in more comprehensive exchanges.
The website provides clear information about trading conditions and fees, though some users might seek more detailed data on security practices.
Website Transparency
Okcoin provides clear information on fees and security practices, though details on corporate governance could be more comprehensive.
Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
Credit/Debit Card
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.
Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
Storage Offering
The exchange offers secure storage options with a majority of assets kept in cold storage, enhancing security for user funds.
Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
Staking and Rewards
Currently, Okcoin has limited options for staking and rewards, which is an area ripe for development to enhance user returns.
Both the mobile app and desktop platform are user-friendly and well-designed, making trading accessible for all user levels.
Mobile App and Desktop
Okcoin provides robust mobile and desktop platforms that are intuitive and user-friendly, suitable for traders of all experience levels.
Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
Customer Service
Customer service is available, but response times can vary. Improving responsiveness and support hours could boost user satisfaction.
Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.
Deposit and Withdraw
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
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

Staking, Blocktrade Earn program, advanced trading tools, fiat on/off ramps
Margin trading, staking, Okcoin Earn, fiat on/off ramps

Anonymity

Yes
No

Key points

Available cryptocurrencies

10+
30+

User-friendliness

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

Provides decent value for money with competitive fees and a focus on European markets, making it a good choice for regional users.
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

Germany, Austria, Switzerland, Slovenia, France
United States, Canada, United Kingdom, Europe, Singapore

Best for

Ideal for European investors looking for a reliable platform with competitive fees and a focus on security.
Best for traders seeking a user-friendly platform with low fees and a wide range of supported cryptocurrencies.

Base currencies available

EUR, BTC
USD, EUR, SGD, BTC

Account

Trading

Blocktrade offers a straightforward trading experience with a limited selection of cryptocurrencies. It focuses on security and ease of use, making it suitable for beginners.
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

Blocktrade provides standard deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.
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

Blocktrade’s account opening process is simple and fully digital. Users need to submit personal details and verify their identity. The process is quick and typically takes less than a day to complete.
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?

No
Yes

Customer Service

Blocktrade provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback 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

Blocktrade ensures security through 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might 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-analista-de-brokers.webp

Alejandro Borja

As an expert reviewer on our website, I highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.
Xavier-tarraso-mascarell.jpg

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.

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