Comparison of Okx vs Poloniex [ 2024 ]

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

Your expert: Alejandro Borja

Okx

Your expert: Xavier Tarrasó

Poloniex

Main points

Fees

≤0,10%

Earns

Customer service

4/5

≤0,25%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

4.0 – Competitive fees with additional benefits for token holders.

Level

≤0,10%

≤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.

Poloniex maintains a straightforward and competitive fee structure that benefits a wide range of traders. The exchange primarily operates on a maker-taker fee model, with fees varying depending on the user’s 30-day trading volume. Generally, maker fees start at 0.145% and can go as low as 0.00%, while taker fees start at 0.155% and decrease to 0.10% for high-volume traders. This tiered approach incentivizes frequent trading and offers cost-effective options for active users. Additionally, there are no fees for cryptocurrency deposits, although withdrawal fees vary by cryptocurrency and are adjusted based on network conditions to ensure transactions are processed swiftly.

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

Poloniex

Security methods: Poloniex employs robust security protocols including cold storage for funds, two-factor authentication, and encryption, ensuring a secure trading environment for its users.
Reputation and Reviews: Over the years, Poloniex has built a solid reputation within the crypto community. It is well-regarded for its user-friendly interface and relatively low trading fees, with numerous positive reviews from users worldwide.
Reputation and Reviews: Over the years, Poloniex has built a solid reputation within the crypto community. It is well-regarded for its user-friendly interface and relatively low trading fees, with numerous positive reviews from users worldwide.
Customer service: Poloniex offers comprehensive customer support with a detailed FAQ section, a ticketing system, and a chatbot to help users resolve issues quickly and effectively. This ensures that users receive the assistance they need in a timely manner.
Transparency: Poloniex provides transparent trading practices and clear fee structures, making it easy for users to understand exactly what they are paying and why. This level of transparency builds trust among users and is a significant factor in choosing Poloniex as a trading platform.

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Product selection

Native token

Token OKB

Earns

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Aux Cayes FinTech Co. Ltd.

Polo Digital Assets, Ltd.

Regulation

Not regulated

Year founded

2014

Founder

Star Xu

Tristan D’Agosta

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Okx	FEATURES	Poloniex
OKX allows relatively low minimum trade volumes, making it accessible for beginners to start trading without a significant initial investment.	Minimum Trade	Poloniex allows for relatively small minimum trade amounts, which is ideal for new traders looking to experiment with minimal investment.
OKX offers competitive trading fees that decrease with higher trading volumes, making it economical for both small and large traders.	Trading and Transaction Fees	Known for competitive, low trading fees, Poloniex is an excellent choice for cost-effective trading.
OKX supports a wide array of cryptocurrencies, with hundreds of options available, catering to a diverse range of trader preferences.	Number of Cryptocurrencies	Offers a broad range of cryptocurrencies, although not as extensive as some 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	Provides a wide variety of trading pairs, allowing for versatile trading strategies but could expand to include more rare or emerging tokens.
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	While Poloniex provides essential information, there could be more detailed disclosures about security practices and fund storage.
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	Poloniex does not offer an exchange card for in-store purchases.
The exchange offers secure storage options, including cold storage, ensuring a high level of security for user funds.	Storage Offering	Offers secure storage options, but lacks some advanced features like insured custodial services.
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 some staking options, but the rewards and variety are not as competitive as other leading exchanges.
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 the mobile app and desktop platform are user-friendly and reliable, though some users may find them less feature-rich compared to those of top competitors.
Customer service is available and functional but often criticized for slow response times during high-demand periods.	Customer Service	Customer service is available, but response times and the quality of support have room for improvement.
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	Deposits and withdrawals are handled efficiently, though primarily limited to cryptocurrencies which might limit accessibility for some users.

Key features

Analysis tools

Advanced charting tools, technical analysis

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, OKX Earn

Margin trading, staking, Poloniex Earn, Poloniex API

Anonymity

Yes

Key points

Available cryptocurrencies

300+

100+

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.

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

Offers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

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

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 seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, CNY, BTC, USDT

USD, USDT, 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.

Poloniex offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has faced some security and regulatory challenges in the past.

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 .

Poloniex provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

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.

Poloniex provides a seamless account opening 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

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.

Poloniex provides extensive 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

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

Poloniex 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.

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 a seasoned expert on our website and an enthusiastic follower of cryptocurrency trends, I’ve consistently found Poloniex to be a solid choice for those venturing into the world of crypto trading. Its user-friendly interface and competitive trading fees make it especially appealing to newcomers and experienced traders alike. Whether you’re looking to dip your toes into crypto or expand your trading portfolio, Poloniex offers a reliable and efficient platform to meet your needs. I highly recommend giving it a try for a straightforward and cost-effective trading experience.

View all comparisons against Okx

View all comparisons against Poloniex

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.