Comparison of Okcoin vs Bitbns [ 2024 ]

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

Your expert: Alejandro Borja

Okcoin

Your expert: Xavier Tarrasó

Bitbns

Main points

Fees

≈ 0,10%/0,20%

Earns

Customer service

4/5

Fees

0.25%

Earns

Yes

Customer service

3/5

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Comparison of fees

Rating

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

3.8 – Competitive fees with some additional costs for specific services.

Level

≈ 0,10%/0,20%

0.25%

Brief explanation

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 While deposits are typically free, withdrawals incur a fee that varies depending on the currency being withdrawn and the method used, which ensures operational efficiency and security in fund transfers.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

Bitbns employs a straightforward fee structure that aligns well with industry standards, charging both takers and makers a uniform fee of 0.25%. This flat rate is fairly competitive when compared to global averages, ensuring that traders can engage in transactions without the worry of fluctuating fees based on their trading volume. This consistency in trading fees helps in maintaining transparency and allows traders to plan their trading activities without unexpected costs.

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.

Bitbns

Security Methods: Bitbns places a strong emphasis on security, implementing multiple layers of protection including 2-factor authentication, cold storage of digital assets, and encrypted user data. These practices help in safeguarding users’ funds and personal information against unauthorized access and potential security threats.
Transparency: Bitbns is known for its transparent operational practices, including clear communication regarding its fee structure, trading processes, and the storage of users’ funds. This transparency helps build trust by ensuring that users have a clear understanding of how their investments are managed.
Customer Service: The exchange boasts a responsive and knowledgeable customer service team that is accessible through multiple channels. This responsiveness ensures that users’ queries and concerns are addressed promptly, enhancing user satisfaction and trust in the platform.
Reputation and Reviews: Since its inception in 2017, Bitbns has built a strong reputation within the Indian cryptocurrency market. Positive reviews from users and industry experts highlight the platform’s reliability, ease of use, and excellent service, contributing to its credibility
Number of Users: Bitbns supports a large and growing community of users, indicating a broad acceptance and trust in the platform. A large user base not only reflects the platform’s capability to meet trader needs but also enhances liquidity, which is crucial for the efficient execution of trades.

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Features	Okcoin	Bitbns
Minimum Trade	Okcoin allows for relatively low minimum trade volumes, making it accessible for beginners without requiring large initial investments.	Bitbns allows users to start trading with a low minimum trade amount, making it accessible for small investors.
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.	Fees are competitive within the Indian market, but can be considered high internationally.
Number of Cryptocurrencies	While Okcoin supports all major cryptocurrencies, its selection of altcoins is somewhat limited compared to larger exchanges.	Supports a diverse range of over 100 cryptocurrencies, catering to varied investor interests.
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.	Offers a solid selection of crypto-to-crypto trading pairs, enabling versatile trading strategies.
Website Transparency	Okcoin provides clear information on fees and security practices, though details on corporate governance could be more comprehensive.	The website provides clear information on fees, trading processes, and security measures.
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.	Bitbns lacks an exchange card feature, which could enhance user convenience and offer additional benefits for in-store purchases.
Storage Offering	The exchange offers secure storage options with a majority of assets kept in cold storage, enhancing security for user funds.	Provides secure cold storage options, enhancing the safety of digital assets.
Staking and Rewards	Currently, Okcoin has limited options for staking and rewards, which is an area ripe for development to enhance user returns.	Offers competitive staking options and rewards, encouraging user participation and investment.
Mobile App and Desktop	Okcoin provides robust mobile and desktop platforms that are intuitive and user-friendly, suitable for traders of all experience levels.	Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Customer Service	Customer service is available, but response times can vary. Improving responsiveness and support hours could boost user satisfaction.	Excellent customer service with multiple channels for support and quick response times.
Deposit and Withdraw	Deposits and withdrawals are handled efficiently on Okcoin, with support for multiple payment methods, though some users seek faster processing times.	Efficient deposit and withdrawal processes, though options may be limited compared to international standards.

Key features

Analysis tools

Basic charting tools

Mobile APP

Security

High 4,6/5

High 4/5

Additional features

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

Margin trading, futures trading, staking, SIP investment plans

Anonymity

Key points

Available cryptocurrencies

30+

90+

User-friendliness

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.

Bitbns is known for its simple and user-friendly interface. It is designed to make cryptocurrency trading accessible to everyone, including those who are new to the market.

Value for money

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

Provides good value for money with low trading fees and a wide range of supported cryptocurrencies, making it an affordable choice for traders.

Countries of operation

United States, Canada, United Kingdom, Europe, Singapore

India, United States, United Kingdom, Canada, Australia

Best for

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

Ideal for Indian investors and others looking for a cost-effective platform with low trading fees and a wide range of cryptocurrencies.

Base currencies available

USD, EUR, SGD, BTC

INR, USDT

Account

Trading

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.

Bitbns is a good platform for Indian users, offering a wide range of cryptocurrencies and easy fiat integration. Its trading fees are competitive, but it lacks some advanced features and tools available on larger exchanges.

Deposit and withdrawal

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 .

Bitbns offers bank transfers and cryptocurrency deposits. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

Account opening process

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.

Bitbns has a straightforward account opening process. Users need to submit personal information, verify their identity, and address. The process is efficient and usually takes less than a day, making it accessible for new users.

KYC required?

Yes

Customer Service

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.

Bitbns provides support through email, live chat, and a help center. The response time is quick, and support is available 24/7, making it reliable for users in India and beyond.

Security

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.

Bitbns employs comprehensive security measures, including 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As an expert on our website, I recommend Bitbns for traders in India seeking a user-friendly and secure platform to dive into cryptocurrency trading. The exchange excels in transparency, customer service, and a robust mobile experience, making it highly suitable for both beginners and seasoned traders. However, potential users should consider the higher trading fees and limited international accessibility when deciding if Bitbns meets their trading needs.

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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 Okcoin vs Bitbns [ 2024 ]

Okcoin

Bitbns

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Okcoin

Bitbns

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 Okcoin and Bitbns