Comparison of Hitbtc vs Okcoin [ 2024 ]

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

Your expert: Alejandro Borja

Hitbtc

Your expert: Xavier Tarrasó

Okcoin

Main points

Fees

0,10%/0,20%

Earns

Customer service

3/5

≈ 0,10%/0,20%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.

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

Level

0,10%/0,20%

≈ 0,10%/0,20%

Brief explanation

HitBTC Trading Fees Overview HitBTC uses a straightforward fee structure that follows a maker-taker model. The standard fee is 0.1% for makers and 0.25% for takers. However, the fee decreases with higher trading volumes, incentivizing frequent and high-volume trading. For instance, users with significant monthly trading volumes can benefit from fees as low as -0.01%, essentially earning rebates on their trades . The exchange also offers tiered fee discounts based on trading volume over the last 30 days. This means that the more you trade, the less you pay in fees, which can be advantageous for active traders. Additionally, HitBTC supports various withdrawal methods, each with its own associated fees, primarily network fees for the cryptocurrency being withdrawn . Summary of HitBTC’s Commissions HitBTC’s commission structure is designed to be competitive and transparent. Regular users face a 0.1% maker fee and a 0.25% taker fee, with opportunities for rebates and lower fees for high-volume traders. The tiered fee system encourages increased trading activity by offering progressively lower fees based on the user’s trading volume over the past 30 days. Withdrawal fees vary depending on the cryptocurrency and its network conditions, while there are no deposit fees for digital assets. Overall, HitBTC’s fee structure benefits frequent traders, though beginners and low-volume traders should be aware of the standard rates. The exchange’s commitment to transparent and competitive fees makes it a strong contender for those looking to minimize trading costs while maximizing trading opportunities.

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.

Hitbtc

1. Security Methods HitBTC employs robust security measures, including two-factor authentication, cold storage for the majority of funds, IP monitoring, and withdrawal whitelisting. These measures ensure that user funds are well-protected against potential breaches and hacks.
2. Volume Managed With high trading volumes across a wide array of cryptocurrencies, HitBTC provides substantial liquidity. This is beneficial for traders looking to execute large orders without significant price fluctuations, ensuring smoother trading experiences.
3. Transparency Although the corporate structure is somewhat opaque, HitBTC maintains transparency in its fee structure and trading processes. The platform provides detailed information on fees, trading pairs, and supported cryptocurrencies, which helps build trust with its users.
4. Trading Volume and Liquidity HitBTC consistently ranks among the top exchanges in terms of trading volume, offering deep liquidity across its extensive range of trading pairs. This high liquidity is crucial for executing trades quickly and at favorable prices.
5. Withdrawal and Deposit Policies HitBTC offers a straightforward withdrawal and deposit process with a variety of supported cryptocurrencies. While fiat withdrawals and deposits are limited, the platform’s clear policies and reasonable fees make it a reliable choice for crypto-to-crypto 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.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

HIT Solution Inc.

OKCoin USA Inc.

Regulation

Not regulated

Regulated in the EE. UU.

Year founded

2013

Founder

Unknown

Star Xu

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Hitbtc	FEATURES	Okcoin
Giottus has a low minimum trade amount, making it accessible for users with varying investment sizes.	Minimum Trade	Okcoin allows for relatively low minimum trade volumes, making it accessible for beginners without requiring large initial investments.
Competitive fee structure with no fees for makers and 0.20% for takers, lower than the industry average.	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.
Supports a decent range of major cryptocurrencies and some altcoins, though not as extensive as some larger exchanges.	Number of Cryptocurrencies	While Okcoin supports all major cryptocurrencies, its selection of altcoins is somewhat limited compared to larger exchanges.
Offers various crypto-to-crypto trading pairs, sufficient for most traders but not exhaustive.	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.
Provides clear and transparent information on fees, services, and features, ensuring users are well-informed.	Website Transparency	Okcoin provides clear information on fees and security practices, though details on corporate governance could be more comprehensive.
No exchange card available for in-store purchases or additional benefits, which is a significant drawback.	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.
Secure storage solutions with most funds held in cold storage and insured custodial services through Bitgo.	Storage Offering	The exchange offers secure storage options with a majority of assets kept in cold storage, enhancing security for user funds.
Offers some staking options, but they are not as extensive or rewarding as those available on other platforms.	Staking and Rewards	Currently, Okcoin has limited options for staking and rewards, which is an area ripe for development to enhance user returns.
The mobile app is highly rated for its user-friendly design and multilingual support, providing a seamless trading experience.	Mobile App and Desktop	Okcoin provides robust mobile and desktop platforms that are intuitive and user-friendly, suitable for traders of all experience levels.
Responsive customer service available through live chat and email, but the lack of phone support is a minor limitation.	Customer Service	Customer service is available, but response times can vary. Improving responsiveness and support hours could boost user satisfaction.
Supports multiple deposit methods including bank transfers and UPI, with quick processing times, but fiat transactions are limited to INR.	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

Advanced charting tools, technical indicators

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, HitBTC API

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

Anonymity

Yes

Key points

Available cryptocurrencies

800+

30+

User-friendliness

HitBTC 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.

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 range of supported cryptocurrencies, making it an affordable option for traders.

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

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

United States, Canada, United Kingdom, Europe, Singapore

Best for

Suitable for traders of all experience levels seeking a platform with a wide range 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

USD, EUR, BTC, USDT

USD, EUR, SGD, BTC

Account

Trading

HitBTC offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees but lower liquidity compared to larger 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

HitBTC supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

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

HitBTC provides a straightforward and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually 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?

Yes

Customer Service

HitBTC provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support 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

HitBTC offers robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some 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 an expert at Threenvest, I recommend HitBTC for traders who seek a diverse range of cryptocurrencies and advanced trading features. The platform’s robust security measures provide peace of mind, and its competitive fee structure is advantageous for high-volume traders. However, be mindful of the potential delays in customer support and the lack of corporate transparency. Overall, HitBTC is a solid choice for experienced traders looking to leverage a wide array of digital assets.

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.