Comparison of Okx vs Bitso [ 2024 ]

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

Your expert: Alejandro Borja

Okx

Investing risks losing your money

Your expert: Xavier Tarrasó

Bitso

Investing risks losing your money

Main points

Fees

≤0,10%

Earns

Customer service

4/5

0,075%/0,098%

Fees

Yes

Earns

4/5

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.

3.9 – Competitive fees within Latin America.

Level

≤0,10%

0,075%/0,098%

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.

Bitso maintains a competitive edge in the crypto exchange landscape through its straightforward and relatively low fee structure. The platform employs a maker-taker fee model, which incentivizes market liquidity. Makers, who add liquidity by placing limit orders, enjoy lower fees compared to takers, who remove liquidity by executing against existing orders. Fees can vary depending on the user’s 30-day trading volume, promoting more frequent trading by offering decreasing fees for higher volumes. This tiered approach not only supports active traders but also ensures the platform remains accessible to newcomers, keeping initial costs lower than many other exchanges.

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

Bitso

Year Founded: Established in 2014, Bitso has a long-standing presence in the cryptocurrency market. This longevity is a testament to its resilience and adaptability in the rapidly evolving crypto environment.
Security Methods: Bitso employs robust security measures including two-factor authentication, cold storage of digital assets, and multi-signature wallets. These practices ensure a high level of security for user funds and transactions.
Possible Regulation: Bitso is regulated by the Gibraltar Financial Services Commission (GFSC), one of the few cryptocurrency exchanges in Latin America to be overseen by such a respected regulatory body. This regulation reinforces Bitso's commitment to compliance and security standards.
Trading Volume and Liquidity: Bitso provides substantial trading volume and liquidity, making it easier for users to execute trades efficiently and at desired prices. This is particularly beneficial in a market known for its volatility, where trading depth can significantly impact transaction costs and speed.
Customer Service: Bitso offers exceptional customer service with support available 24/7 through multiple channels, including live chat and a comprehensive help center. This dedication to customer support ensures that users' queries and issues are addressed promptly and effectively, enhancing the overall user experience.

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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.

Bitso SAPI de CV

Regulation

Not regulated

Regulated in México

Year founded

2014

Founder

Star Xu

Pablo González, Ben Peters, Daniel Vogel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Okx	FEATURES	Bitso
OKX allows relatively low minimum trade volumes, making it accessible for beginners to start trading without a significant initial investment.	Minimum Trade	The minimum trade amount is low, enabling accessibility for traders of all sizes.
OKX offers competitive trading fees that decrease with higher trading volumes, making it economical for both small and large traders.	Trading and Transaction Fees	Bitso offers competitive fees, with a sliding scale that benefits high-volume traders.
OKX supports a wide array of cryptocurrencies, with hundreds of options available, catering to a diverse range of trader preferences.	Number of Cryptocurrencies	Bitso supports major cryptocurrencies but has a more limited selection compared to larger exchanges.
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 moderate range of crypto-to-crypto trading pairs, adequate for most traders.
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	Bitso provides clear and detailed information on its operations and security measures.
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	Bitso lacks a dedicated exchange card, limiting its utility for in-store cryptocurrency transactions and associated benefits.
The exchange offers secure storage options, including cold storage, ensuring a high level of security for user funds.	Storage Offering	Secure storage with cold wallets and multi-signature technology to ensure safety.
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	Provides some options for staking and rewards but not as extensive as some competitors.
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	Highly functional and user-friendly mobile and desktop platforms that enhance trading experience.
Customer service is available and functional but often criticized for slow response times during high-demand periods.	Customer Service	Excellent customer support with 24/7 access via multiple channels, including live chat.
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	Efficient deposit and withdrawal processes, though mainly tailored to Mexican users.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

Margin trading, futures trading, staking, OKX Earn

Crypto-to-crypto trading, Bitso Transfer (payment service), staking, educational resources

Anonymity

Key points

Available cryptocurrencies

300+

30+

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.

Bitso provides a straightforward and user-friendly interface, ideal for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand for new users.

Value for money

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

Delivers decent value for money with competitive fees and a strong presence in Latin America, making it a good choice for regional users.

Countries of operation

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

Mexico, Argentina, Brazil

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 Latin American investors, particularly those in Mexico, Argentina, and Brazil, looking for a reliable platform with competitive fees.

Base currencies available

USD, CNY, BTC, USDT

MXN, ARS, BRL, BTC

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.

Bitso is the leading exchange in Latin America, offering a variety of cryptocurrencies and easy fiat integration. It is user-friendly but might not have the advanced tools needed by professional traders.

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 .

Bitso provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, typically within a day. Fees are competitive, making it a good choice for Latin American users.

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.

Bitso’s account opening process is simple and fully digital. Users need to provide personal information and verify their identity. The process is quick, typically 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.

Bitso provides support through email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

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

Bitso ensures security through 2FA, encryption, and cold storage. It is regulated by Mexican authorities, providing a secure environment for 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 reviewer on our website, I find Bitso to be a solid choice for traders, especially those based in Latin America. Its strong regulatory compliance, combined with a user-friendly interface and dedicated customer service, makes it a reliable platform. However, if you’re looking for a wider variety of cryptocurrencies or need more global payment options, you might want to explore other exchanges. Nonetheless, for those new to cryptocurrency or primarily trading in Mexican Pesos, Bitso offers an excellent starting point.

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View all comparisons against Bitso

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.