Comparison of Okx vs Primexbt [ 2024 ]

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

Your expert: Alejandro Borja

Okx

Your expert: Xavier Tarrasó

Primexbt

Main points

Fees

≤0,10%

Earns

Customer service

4/5

≤0,05%

Fees

Earns

3/5

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.

4.1 – Competitive fees with a focus on leveraged trading.

Level

≤0,10%

≤0,05%

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.

PrimeXBT structures its commission system to be competitive and transparent, offering traders a clear understanding of the costs associated with their trading activities. The platform primarily charges a flat rate on trades, avoiding the complexity of tiered fee structures seen in some other exchanges. This flat rate is relatively low compared to industry standards, making it an attractive option for both high-volume and casual traders. The trading fees on PrimeXBT vary slightly depending on the market and asset class but are generally around 0.05% per trade for most cryptocurrencies. This is significantly lower than the average fees on other major platforms, which can range up to 0.25%. Additionally, PrimeXBT offers further discounts on trading fees for holders of its native token, reducing costs even more for frequent traders. This straightforward and low-cost fee structure is especially beneficial in a market where margins can be tight and efficiency is key. PrimeXBT’s emphasis on low fees helps maximize traders’ potential profits by minimizing the overhead on each transaction.

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

Primexbt

High Security Standards: PrimeXBT employs an array of security measures, including cold storage of assets, SSL encryption, and two-factor authentication to ensure the safety and security of its users' funds and data.
Advanced Trading Tools: The platform offers advanced trading tools and features, such as customizable charting tools, leverage options, and order types, which are essential for both novice and experienced traders aiming to execute complex trading strategies effectively.
Robust Trading Infrastructure: PrimeXBT boasts a robust trading infrastructure capable of handling significant trading volumes and market volatility, which ensures reliability and speed for its users' trading activities.
Transparent and Competitive Fees: The platform maintains transparency in its fee structure, offering competitive trading and withdrawal fees, which are clearly outlined on their website. This transparency helps build trust among users by ensuring there are no hidden charges.
Reputation and User Reviews: Over the years, PrimeXBT has built a strong reputation within the trading community. Positive reviews and testimonials from users across various forums and review sites highlight the platform's reliability and user-friendly interface.

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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.

PrimeXBT Trading Services

Regulation

Not regulated

Year founded

2014

2018

Founder

Star Xu

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Okx	FEATURES	Primexbt
OKX allows relatively low minimum trade volumes, making it accessible for beginners to start trading without a significant initial investment.	Minimum Trade	PrimeXBT allows users to engage in trades with relatively low minimum thresholds, making it accessible for traders with smaller budgets.
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 and transparent, which is favorable for maintaining profitability in frequent trading activities.
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, though not as extensive as the largest exchanges, it covers all major and several minor tokens.
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 diverse array of trading pairs, allowing users to directly trade one cryptocurrency for another without converting to fiat.
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 clear information on fees, services, and trading options, contributing to high 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	PrimeXBT lacks an exchange card, which limits the flexibility for users to directly access their trading profits for everyday expenditures or to enjoy cardholder benefits.
The exchange offers secure storage options, including cold storage, ensuring a high level of security for user funds.	Storage Offering	Excellent security measures for storage, including cold storage options for digital assets.
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 less competitive compared to specialized staking platforms.
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 offer full trading functionalities.
Customer service is available and functional but often criticized for slow response times during high-demand periods.	Customer Service	Provides robust customer support with multiple channels and quick response times, though it can be improved with more direct phone support.
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 streamlined and efficient, though primarily limited to cryptocurrencies which might be a limitation 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, futures trading, staking, PrimeXBT Covesting

Anonymity

Yes

Key points

Available cryptocurrencies

300+

Primarily derivatives

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.

PrimeXBT offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth 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 competitive fees and advanced trading features, suitable for both retail and institutional 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.

Ideal for experienced traders interested in advanced trading features and competitive fees.

Base currencies available

USD, CNY, BTC, USDT

USD, BTC (for derivative trading)

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.

PrimeXBT focuses on leveraged trading, offering a unique feature for experienced traders. It has a good range of cryptocurrencies and competitive fees but can be risky and complex for beginners.

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 .

PrimeXBT supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, with low 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.

PrimeXBT offers a straightforward and user-friendly account registration process. Users need to submit personal information and verify their identity. The process is efficient and typically takes 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.

PrimeXBT offers 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.

Security

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

PrimeXBT employs strong security features like 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could 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 analyst at our platform, I’ve closely examined PrimeXBT and here’s my personal take: PrimeXBT stands out primarily for its user-friendly interface and the extensive range of trading tools it offers, making it ideal for traders looking for robust leverage options and a diverse asset portfolio. The platform’s commitment to security is commendable, with comprehensive measures in place to protect user assets and data. Whether you’re just starting out or you’re an experienced trader, PrimeXBT provides a solid foundation for your trading activities with competitive fees and a strong infrastructure. If you’re considering a reliable and versatile trading platform, PrimeXBT is definitely worth your consideration.

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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.