Comparison of Coinbase vs Okcoin [ 2024 ]

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

Your expert: Alejandro Borja

Coinbase

Your expert: Xavier Tarrasó

Okcoin

Main points

Fees

0,40%/0,60%

Earns

Yes

Customer service

4/5

≈ 0,10%/0,20%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.5 – Higher fees but strong security and ease of use.

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

Level

0,40%/0,60%

≈ 0,10%/0,20%

Brief explanation

Coinbase is known for its relatively higher fee structure, which can be a significant consideration for its users. The exchange charges a flat fee for smaller transactions and a percentage of the transaction amount for larger ones. Fees vary depending on the payment method used, such as credit/debit cards or bank transfers, and the country of the user. Additionally, Coinbase applies a spread of about 0.50% for cryptocurrency purchases and sales. While the fees may be higher compared to some other platforms, they are often justified by the high level of security, user-friendly services, and the robust infrastructure that Coinbase offers to its customers. This makes it especially appealing to new entrants to the cryptocurrency market who seek ease of use and reliability.

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 While deposits are typically free, withdrawals incur a fee that varies depending on the currency being withdrawn and the method used, which ensures operational efficiency and security in fund transfers.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.

Coinbase

Year Founded: Established in 2012, Coinbase has a long-standing presence in the cryptocurrency market. This extensive history not only showcases its resilience and adaptability but also its ability to innovate and grow alongside the rapidly evolving crypto ecosystem.
Number of Users: With millions of users globally, Coinbase is one of the largest cryptocurrency exchanges. This large user base not only demonstrates trust and satisfaction among a significant portion of the crypto community but also contributes to its robust trading volume and liquidity.
Security Methods: Coinbase employs state-of-the-art security measures including two-factor authentication, cold storage of 98% of customer funds, and insurance to protect against theft or breaches of the online storage. This comprehensive approach to security helps ensure user funds are protected at all times.
Possible Regulation: Coinbase is known for its strong regulatory compliance, operating in accordance with major regulatory bodies in the U.S. and other jurisdictions. This adherence to strict regulatory standards ensures operational transparency and security for its users.
Reputation and Reviews: Over the years, Coinbase has built a solid reputation within the cryptocurrency community. Positive reviews from users and its standing in the industry as a reliable, easy-to-use platform further affirm its credibility and reliability as a top choice for both new and experienced cryptocurrency users.

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.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Coinbase Global, Inc.

OKCoin USA Inc.

Regulation

Regulated in the EE. UU. y varios otros países

Regulated in the EE. UU.

Year founded

2012

2013

Founder

Brian Armstrong and Fred Ehrsam

Star Xu

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Coinbase	FEATURES	Okcoin
Coinbase allows relatively low minimum trade amounts, making it accessible for beginners.	Minimum Trade	Okcoin allows for relatively low minimum trade volumes, making it accessible for beginners without requiring large initial investments.
Fees are higher than average but justified by high security and user-friendly services.	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.
Offers a wide range of cryptocurrencies, catering to both popular and niche market interests.	Number of Cryptocurrencies	While Okcoin supports all major cryptocurrencies, its selection of altcoins is somewhat limited compared to larger exchanges.
Provides a robust selection of trading pairs, allowing diverse trading strategies.	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.
Highly transparent about security measures, fees, and operational procedures.	Website Transparency	Okcoin provides clear information on fees and security practices, though details on corporate governance could be more comprehensive.
The card is widely accepted, allows users to earn cryptocurrency rewards on purchases, and integrates seamlessly with Coinbase accounts, enhancing the user experience for everyday transactions.	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 wallet services with a majority of assets stored in cold storage.	Storage Offering	The exchange offers secure storage options with a majority of assets kept in cold storage, enhancing security for user funds.
Provides competitive staking rewards and incentives for various cryptocurrencies.	Staking and Rewards	Currently, Okcoin has limited options for staking and rewards, which is an area ripe for development to enhance user returns.
Both platforms are user-friendly and highly functional, providing excellent trading experiences.	Mobile App and Desktop	Okcoin provides robust mobile and desktop platforms that are intuitive and user-friendly, suitable for traders of all experience levels.
Offers adequate support, though response times can vary during peak periods.	Customer Service	Customer service is available, but response times can vary. Improving responsiveness and support hours could boost user satisfaction.
Efficient deposit and withdrawal processes, with some limits and fees that vary by region.	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

User-friendly charts, basic tools

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Staking, Coinbase Earn educational rewards, recurring buys, Coinbase Pro exchange

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

Anonymity

Key points

Available cryptocurrencies

100+

30+

User-friendliness

Coinbase is known for its highly user-friendly interface, making it one of the best choices for beginners. The platform is simple to navigate, and buying and selling cryptocurrencies is straightforward and hassle-free.

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 reasonable value for money with higher fees but strong security features and a user-friendly interface, making it suitable for beginners.

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

United States, Canada, United Kingdom, Europe, Australia

United States, Canada, United Kingdom, Europe, Singapore

Best for

Great for beginners who prioritize security and ease of use, despite higher fees compared to other exchanges.

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

Base currencies available

USD, EUR, GBP, BTC

USD, EUR, SGD, BTC

Account

Trading

Coinbase is one of the most popular exchanges, especially for beginners. It offers a user-friendly platform, high security, and a good range of cryptocurrencies. However, its fees are higher compared to some other exchanges.

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

Coinbase supports a wide range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, but fees can be higher compared to other exchanges .

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

Coinbase offers a user-friendly and seamless account opening process. Users need to provide personal information, verify their identity, and typically get their account approved within a day. It’s secure and efficient .

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

Coinbase offers extensive customer support through email, live chat, and a detailed help center. Support is available 24/7, and the response times are quick, making it reliable for users globally .

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

Coinbase employs extensive security measures, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, making it a highly secure platform for investors .

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 Threenvest reviews Coinbase, it is evident that this platform stands out as a robust and user-friendly gateway into the world of cryptocurrency trading. Ideal for both novice and experienced traders, Coinbase provides an intuitive interface, extensive educational resources, and a suite of trading options that cater to a broad spectrum of investment strategies. The security measures employed by Coinbase are commendable, with best practices like cold storage of funds, insurance, and stringent compliance with regulatory standards, ensuring a secure environment for digital asset trading. However, despite its many strengths, Coinbase does exhibit some limitations when compared against the broader landscape of cryptocurrency exchanges. The fee structure, particularly for small transactions and casual traders, can be notably higher than some of its competitors, which might deter those seeking more cost-effective trading options. Additionally, while Coinbase offers a substantial range of cryptocurrencies, it may not match the sheer volume of trading pairs available on platforms like Binance or Kraken. Nevertheless, Threenvest believes that for users who prioritize a secure, straightforward, and well-regulated trading experience, Coinbase remains an excellent choice. Our comprehensive review finds that while no platform is without its flaws, Coinbase’s commitment to security, ease of use, and continuous improvement align well with the needs of most cryptocurrency enthusiasts and investors.

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.