Comparison of Coinbase vs Okx [ 2024 ]

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

Your expert: Alejandro Borja

Coinbase

Your expert: Xavier Tarrasó

Okx

Main points

Fees

0,40%/0,60%

Earns

Yes

Customer service

4/5

≤0,10%

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.

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

Level

0,40%/0,60%

≤0,10%

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.

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.

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.

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.

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Product selection

Native token

Token OKB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Coinbase Global, Inc.

Aux Cayes FinTech Co. Ltd.

Regulation

Regulated in the EE. UU. y varios otros países

Not regulated

Year founded

2012

2014

Founder

Brian Armstrong and Fred Ehrsam

Star Xu

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Coinbase	FEATURES	Okx
Coinbase allows relatively low minimum trade amounts, making it accessible for beginners.	Minimum Trade	OKX allows relatively low minimum trade volumes, making it accessible for beginners to start trading without a significant initial investment.
Fees are higher than average but justified by high security and user-friendly services.	Trading and Transaction Fees	OKX offers competitive trading fees that decrease with higher trading volumes, making it economical for both small and large traders.
Offers a wide range of cryptocurrencies, catering to both popular and niche market interests.	Number of Cryptocurrencies	OKX supports a wide array of cryptocurrencies, with hundreds of options available, catering to a diverse range of trader preferences.
Provides a robust selection of trading pairs, allowing diverse trading strategies.	Crypto-to-Crypto Trading Pairs	The platform excels in offering a vast selection of crypto-to-crypto trading pairs, providing ample trading opportunities for users.
Highly transparent about security measures, fees, and operational procedures.	Website Transparency	OKX provides clear information on its operations and fees, although there could be improvements in accessibility of detailed data regarding liquidity and internal processes.
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	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.
Offers secure wallet services with a majority of assets stored in cold storage.	Storage Offering	The exchange offers secure storage options, including cold storage, ensuring a high level of security for user funds.
Provides competitive staking rewards and incentives for various cryptocurrencies.	Staking and Rewards	OKX provides various staking options and rewards, though the benefits and returns might vary and are not always as high as some competitors.
Both platforms are user-friendly and highly functional, providing excellent trading experiences.	Mobile App and Desktop	Both the mobile app and desktop platforms of OKX are highly rated for user interface, ease of use, and comprehensive features.
Offers adequate support, though response times can vary during peak periods.	Customer Service	Customer service is available and functional but often criticized for slow response times during high-demand periods.
Efficient deposit and withdrawal processes, with some limits and fees that vary by region.	Deposit and Withdraw	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.

Key features

Analysis tools

User-friendly charts, basic tools

Advanced charting tools, technical analysis

Mobile APP

Yes

Security

High 4,9/5

Additional features

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

Margin trading, futures trading, staking, OKX Earn

Anonymity

Key points

Available cryptocurrencies

100+

300+

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.

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.

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.

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

Countries of operation

United States, Canada, United Kingdom, Europe, Australia

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

Best for

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

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

Base currencies available

USD, EUR, GBP, BTC

USD, CNY, BTC, USDT

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.

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.

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 .

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 .

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 .

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.

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 .

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.

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 .

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

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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.