Comparison of Okx vs Bitmart [ 2024 ]

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

Your expert: Alejandro Borja

Okx

Your expert: Xavier Tarrasó

Bitmart

Main points

Fees

≤0,10%

Earns

Customer service

4/5

0.09%/0,25%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

4.0 – Reasonable fees with some additional costs for specific services.

Level

≤0,10%

0.09%/0,25%

Brief explanation

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.

BitMart’s commission structure is designed to be competitive within the cryptocurrency exchange market. The platform utilizes a tiered fee system based on trading volume, which encourages more frequent trading by reducing costs for high-volume traders. Generally, the fees for makers, who add liquidity to the market, are lower than for takers, who take liquidity away. This fee structure not only supports liquidity but also rewards users who contribute to the market dynamics. While specific percentages vary, they are kept transparent on the platform, ensuring traders can plan their transactions with clarity regarding potential costs.

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.

Read okx review

Bitmart

Security Methods: BitMart employs comprehensive security measures to protect user assets and data. These include two-factor authentication, advanced encryption technology, and the majority of funds held in cold storage. These stringent security protocols demonstrate BitMart's commitment to maintaining a secure trading environment.
Reputation and Reviews: BitMart has built a solid reputation within the crypto community for its robust platform and reliable service. Positive user reviews frequently highlight the platform's user-friendly interface and the wide variety of trading options available, reinforcing its standing in the market.
Trading Volume and Liquidity: BitMart handles a significant volume of daily trades, ensuring high liquidity across its various trading pairs. This high trading volume is indicative of a vibrant marketplace that allows users to execute trades efficiently without substantial price slippage.
Year Founded: Established in 2017, BitMart has several years of operation under its belt, during which it has continuously evolved and improved its offerings. This longevity in the fast-paced world of cryptocurrency exchanges speaks to its resilience and the trust placed in it by its users.
Customer Service: While there have been challenges with response times, BitMart's dedication to improving its customer service is evident. They are actively working to enhance their support mechanisms to provide timely and effective help to their users, which is a critical component of user trust and satisfaction.

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Product selection

Native token

Token OKB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Aux Cayes FinTech Co. Ltd.

GBM Foundation Company

Regulation

Not regulated

Year founded

2014

2017

Founder

Star Xu

Sheldon Xia

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Okx	FEATURES	Bitmart
OKX allows relatively low minimum trade volumes, making it accessible for beginners to start trading without a significant initial investment.	Minimum Trade	BitMart offers a relatively low minimum trade amount, making it accessible for beginners to start trading without significant capital.
OKX offers competitive trading fees that decrease with higher trading volumes, making it economical for both small and large traders.	Trading and Transaction Fees	Fees are competitive, but could be improved to match lower rates offered by some other exchanges.
OKX supports a wide array of cryptocurrencies, with hundreds of options available, catering to a diverse range of trader preferences.	Number of Cryptocurrencies	BitMart supports a wide array of cryptocurrencies, providing users with a diverse range of trading options.
The platform excels in offering a vast selection of crypto-to-crypto trading pairs, providing ample trading opportunities for users.	Crypto-to-Crypto Trading Pairs	Offers a substantial number of crypto-to-crypto trading pairs, allowing for versatile trading strategies.
OKX provides clear information on its operations and fees, although there could be improvements in accessibility of detailed data regarding liquidity and internal processes.	Website Transparency	The website provides essential information; however, more detailed disclosures about security practices and fund management could enhance transparency.
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.	Credit/Debit Card	BitMart does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
The exchange offers secure storage options, including cold storage, ensuring a high level of security for user funds.	Storage Offering	Provides secure storage options with the majority of assets held in cold storage, though past security breaches have impacted their score.
OKX provides various staking options and rewards, though the benefits and returns might vary and are not always as high as some competitors.	Staking and Rewards	Offers competitive staking options and rewards, appealing to users looking to earn through their crypto assets.
Both the mobile app and desktop platforms of OKX are highly rated for user interface, ease of use, and comprehensive features.	Mobile App and Desktop	Both mobile and desktop platforms are highly user-friendly and feature-rich, providing a seamless trading experience.
Customer service is available and functional but often criticized for slow response times during high-demand periods.	Customer Service	Customer support is available, but response times can be slow. More resources towards improving service responsiveness are needed.
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.	Deposit and Withdraw	BitMart offers multiple deposit and withdrawal methods, but improvements could be made in processing times and fee structures for withdrawals.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools, some advanced features for futures

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, OKX Earn

Futures trading, staking, lending services, BitMart token (BMX) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

300+

200+

User-friendliness

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.

BitMart features an easy-to-use platform with a simple interface that is suitable for beginners. The exchange provides a seamless trading experience with all necessary features easily accessible.

Value for money

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

Provides good value for money with low trading fees and a diverse range of supported cryptocurrencies, making it a cost-effective option for traders.

Countries of operation

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

United States, South Korea, Japan, China, Singapore

Best for

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

Suitable for traders of all experience levels who want access to a diverse range of cryptocurrencies and low trading fees.

Base currencies available

USD, CNY, BTC, USDT

USD, BTC, ETH, USDT

Account

Trading

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.

BitMart is a global exchange with a good variety of cryptocurrencies and competitive fees. It offers advanced trading options but has faced some security and regulatory challenges.

Deposit and withdrawal

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 .

BitMart provides diverse deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, typically within a day. Fees are reasonable, enhancing user experience.

Account opening process

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.

BitMart offers an easy and fully digital account opening process. Users need to provide personal details and verify their identity. The process is usually quick, taking less than a day to complete.

KYC required?

Yes

Customer Service

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.

BitMart provides support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support can be inconvenient for users needing immediate assistance.

Security

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

BitMart provides strong security with 2FA, SSL encryption, and cold storage. However, it lacks regulation from 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 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.

Xavier Tarrasó

As an expert on our website, I recommend BitMart for traders who value a wide selection of cryptocurrencies and robust trading platforms. While the exchange offers strong security measures and diverse trading options, potential users should be aware of the historical security breaches and occasionally slow customer service. Overall, BitMart provides a user-friendly experience with competitive trading fees, making it a solid choice for both beginners and experienced traders looking to expand their crypto portfolios.

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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.