Comparison of Okcoin vs Coinsbank [ 2024 ]

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

Your expert: Alejandro Borja

okcoin

Okcoin

  • Threenvest valuation: 3,7/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

coinsbank

Coinsbank

  • Threenvest valuation: 2,5/5
  • US legal: No
  • Security: Low 2/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

≈ 0,10%/0,20%

Earns

No

Customer service

4/5
0,20%/0,50%

Fees

Yes

Earns

2/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

No

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

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

Level

≈ 0,10%/0,20%
0,20%/0,50%

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 While deposits are typically free, withdrawals incur a fee that varies depending on the currency being withdrawn and the method used, which ensures operational efficiency and security in fund transfers.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.
CoinsBank structures its commission model to accommodate both crypto-to-crypto and fiat-to-crypto transactions. The trading fees are notably higher than the industry average, typically around 0.50% for takers, which is double the more commonly seen rate of 0.25% among various exchanges. This elevated fee structure can impact high-volume traders significantly, making it a critical consideration for anyone looking to use CoinsBank for frequent trading activities.

Okcoin

okcoin
Read okcoin review
  • 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.
  • Pros
  • Regulated in multiple jurisdictions.
  • User-friendly interface for beginners.
  • Strong commitment to security.
  • Cons
  • Limited advanced trading features.
  • Customer support response times vary.

Read okcoin review

Coinsbank

coinsbank
Read okcoin review
  • Year Founded: Established in 2016, CoinsBank has been active for several years, providing a stable and evolving service platform in the cryptocurrency exchange market.
  • Customer Service: Offers a comprehensive array of customer support options including email, telephone, and live chat, ensuring that users have access to assistance whenever needed.
  • Security Methods: Implements robust security measures including two-factor authentication (2FA), cold storage of funds to protect user assets, and SSL encryption for data security.
  • Reputation and Reviews: Despite some challenges, CoinsBank has managed to maintain a mix of positive reviews particularly for its user-friendly interface and multi-functional platform, highlighting its commitment to customer satisfaction.
  • Regulation: CoinsBank is licensed under the International Financial Services Commission (IFSC) of Belize and is registered with FinCEN MSB in Belize, indicating compliance with certain regulatory standards.
  • Pros
  • Supports multiple fiat currencies.
  • User-friendly interface and mobile app.
  • Offers wallet, card, and merchant services.
  • Cons
  • High transaction fees.
  • Limited cryptocurrency assets.

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $50.

And 1% fee on all cryptocurrency trades.

Read our eToro review here
etoro logotipo
Go to eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

OKCoin USA Inc.
CB Exchange LP

Regulation

Regulated in the EE. UU.
Not regulated

Year founded

2013
2016

Founder

Star Xu
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Okcoin FEATURES Coinsbank
Okcoin allows for relatively low minimum trade volumes, making it accessible for beginners without requiring large initial investments.
Minimum Trade
The platform offers a low minimum trade amount, making it accessible for beginners or those looking to start with small investments.
Okcoin’s fees are competitive within the industry, but they are not the lowest available, which could be improved to attract more users.
Trading and Transaction Fees
CoinsBank charges higher than average fees, which could be a deterrent for high-volume traders.
While Okcoin supports all major cryptocurrencies, its selection of altcoins is somewhat limited compared to larger exchanges.
Number of Cryptocurrencies
Offers a moderate selection of cryptocurrencies including major ones like Bitcoin, Ethereum, Litecoin, and Ripple, but lacks a wider range as seen in larger exchanges.
The platform offers a decent range of crypto-to-crypto trading pairs, though it lacks the variety seen in more comprehensive exchanges.
Crypto-to-Crypto Trading Pairs
A decent range of trading pairs is available, though not as extensive as some of the larger platforms.
Okcoin provides clear information on fees and security practices, though details on corporate governance could be more comprehensive.
Website Transparency
The platform lacks some transparency regarding team details and operational insights, which could affect user trust.
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.
Credit/Debit Card
Dont’ have crypto card
The exchange offers secure storage options with a majority of assets kept in cold storage, enhancing security for user funds.
Storage Offering
Excellent security measures with cold storage options that ensure the safety of digital assets.
Currently, Okcoin has limited options for staking and rewards, which is an area ripe for development to enhance user returns.
Staking and Rewards
Offers some staking options, but the rewards and varieties are not as competitive as other top exchanges.
Okcoin provides robust mobile and desktop platforms that are intuitive and user-friendly, suitable for traders of all experience levels.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, suitable for trading on the go.
Customer service is available, but response times can vary. Improving responsiveness and support hours could boost user satisfaction.
Customer Service
Provides various channels for support including live chat and email, although response times can vary.
Deposits and withdrawals are handled efficiently on Okcoin, with support for multiple payment methods, though some users seek faster processing times.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including bank transfers and cards; however, the high fees on certain transactions can be a disadvantage.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
Low 2/5

Additional features

Margin trading, staking, Okcoin Earn, fiat on/off ramps
Crypto debit card, OTC trading, staking, Coinsbank wallet

Anonymity

No
No

Key points

Available cryptocurrencies

30+
Few, primarily major cryptocurrencies

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.
Coinsbank 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

Delivers good value for money with low trading fees and a user-friendly interface, making it a cost-effective choice for traders.
Delivers reasonable value for money with competitive fees and a wide range of supported cryptocurrencies, though it may lack some advanced features.

Countries of operation

United States, Canada, United Kingdom, Europe, Singapore
United Kingdom, Europe, United States, Canada, Australia

Best for

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

Base currencies available

USD, EUR, SGD, BTC
USD, EUR, GBP, RUB, BTC

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.
CoinsBank provides a secure trading platform with a good selection of cryptocurrencies. It offers additional services like a wallet and card but has higher fees compared to some competitors.

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

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.
CoinsBank provides a straightforward account registration process. Users need to submit personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes
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.
CoinsBank provides support via 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

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.
CoinsBank employs comprehensive security measures, including 2FA 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-analista-de-brokers.webp

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-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I’ve extensively evaluated CoinsBank and can confidently share my insights. For individuals new to cryptocurrencies or those seeking a multifunctional platform, CoinsBank stands out with its user-friendly interface and versatile offerings, including wallets, cards, and merchant services. However, it’s crucial to be aware of the higher transaction fees and the limited information about the team behind the scenes. These factors should be carefully considered when deciding if CoinsBank aligns with your trading and investment needs. Overall, if convenience and a variety of services are your priority, CoinsBank could be a suitable choice.

View all comparisons against Okcoin

View all comparisons against Coinsbank

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.

More comparatives Okcoin and Coinsbank