Comparison of Bitbuy vs Okcoin [ 2024 ]

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

Your expert: Alejandro Borja

bitbuy

Bitbuy

  • Threenvest valuation: 3,9/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

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

Main points

Fees

0.20%

Earns

Yes

Customer service

4/5
≈ 0,10%/0,20%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.7 – Reasonable fees but slightly higher for fiat transactions.
4.2 – Low fees with additional benefits for high-volume traders.

Level

0.20%
≈ 0,10%/0,20%

Brief explanation

Bitbuy’s commission structure is designed to be transparent and competitive within the Canadian market. The exchange typically charges a 0.1% fee for makers, who add liquidity to the market, and a slightly higher fee for takers, who remove liquidity. This fee structure is beneficial for both high-volume traders and occasional users, ensuring that costs are kept reasonable without compromising the quality of service. Additional charges include withdrawal fees, which vary depending on the cryptocurrency, and minimal to no deposit fees, emphasizing Bitbuy’s commitment to providing a cost-effective trading environment for its users.
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 While deposits are typically free, withdrawals incur a fee that varies depending on the currency being withdrawn and the method used, which ensures operational efficiency and security in fund transfers.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.

Bitbuy

bitbuy
Read bitbuy review
  • Security Methods: Bitbuy prioritizes the security of its users with robust measures including SSL encryption, two-factor authentication (2FA), and compliance with PCI DSS standards. This commitment to security ensures that users' funds and personal information are well protected against unauthorized access and cyber threats.
  • Possible Regulation: Bitbuy operates with full compliance with Canadian financial regulations. Being a registered Money Service Business (MSB) under FINTRAC, it adheres to the legal requirements set forth for financial platforms, enhancing its reliability and trustworthiness.
  • Reputation and Reviews: Bitbuy has built a strong reputation within the Canadian crypto community and beyond. It consistently receives positive reviews from users, particularly praising its user-friendly interface and responsive customer service, underscoring its standing as a trusted platform in the market.
  • Transparency: The exchange is known for its transparent operations, providing clear information about its fees, processes, and operations. This transparency builds trust among users, ensuring they feel informed and confident in their trading decisions on the platform.
  • Customer Service: Bitbuy offers excellent customer service, with a dedicated support team available to address and resolve users’ issues promptly. This focus on customer satisfaction is crucial for building long-term trust and ensuring that users have a reliable resource for any inquiries or problems they might encounter.
  • Pros
  • Strong regulatory compliance in Canada.
  • User-friendly interface for beginners.
  • Robust, effective security measures.
  • Cons
  • Relatively high trading fees.
  • Limited selection of cryptocurrencies.

Read bitbuy review

Okcoin

okcoin
Read bitbuy 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.

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

First Ledger Corporation
OKCoin USA Inc.

Regulation

Regulated by FINTRAC en Canadá
Regulated in the EE. UU.

Year founded

2016
2013

Founder

Adam Goldman
Star Xu

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Bitbuy FEATURES Okcoin
The minimum trade amount is reasonably low, making it accessible for beginners.
Minimum Trade
Okcoin allows for relatively low minimum trade volumes, making it accessible for beginners without requiring large initial investments.
Fees are relatively high compared to competitors, which could deter frequent traders.
Trading and Transaction Fees
Okcoin’s fees are competitive within the industry, but they are not the lowest available, which could be improved to attract more users.
Bitbuy offers a selection of the most popular cryptocurrencies but lacks a wide variety of altcoins.
Number of Cryptocurrencies
While Okcoin supports all major cryptocurrencies, its selection of altcoins is somewhat limited compared to larger exchanges.
Limited to major cryptocurrencies, lacking diversity in trading pairs.
Crypto-to-Crypto Trading Pairs
The platform offers a decent range of crypto-to-crypto trading pairs, though it lacks the variety seen in more comprehensive exchanges.
The website provides clear, easily accessible information on fees, policies, and trading options.
Website Transparency
Okcoin provides clear information on fees and security practices, though details on corporate governance could be more comprehensive.
Bitbuy lacks an exchange card, limiting its utility for in-store purchases and additional benefits.
Credit/Debit Card
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.
Provides secure cold storage options, ensuring safety for digital assets.
Storage Offering
The exchange offers secure storage options with a majority of assets kept in cold storage, enhancing security for user funds.
Offers some staking options and rewards, though not as extensive as some other platforms.
Staking and Rewards
Currently, Okcoin has limited options for staking and rewards, which is an area ripe for development to enhance user returns.
Both mobile and desktop platforms are user-friendly and well-designed.
Mobile App and Desktop
Okcoin provides robust mobile and desktop platforms that are intuitive and user-friendly, suitable for traders of all experience levels.
Excellent customer service with quick response times and helpful support staff.
Customer Service
Customer service is available, but response times can vary. Improving responsiveness and support hours could boost user satisfaction.
Efficient deposit and withdrawal processes, though some limitations apply to methods and currencies.
Deposit and Withdraw
Deposits and withdrawals are handled efficiently on Okcoin, with support for multiple payment methods, though some users seek faster processing times.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

OTC trading, express trade option, institutional services, cold storage solutions
Margin trading, staking, Okcoin Earn, fiat on/off ramps

Anonymity

No
No

Key points

Available cryptocurrencies

15+
30+

User-friendliness

Bitbuy offers a clean and intuitive platform that is easy to navigate, making it suitable for beginners. The exchange provides helpful guides and customer support to assist new users in their trading journey.
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.

Value for money

Delivers decent value for money with competitive fees and strong security features, suitable for Canadian users looking for a reliable exchange.
Delivers good value for money with low trading fees and a user-friendly interface, making it a cost-effective choice for traders.

Countries of operation

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

Best for

Best for Canadian investors seeking a reliable and secure exchange with competitive fees and strong customer support.
Best for traders seeking a user-friendly platform with low fees and a wide range of supported cryptocurrencies.

Base currencies available

CAD, BTC
USD, EUR, SGD, BTC

Account

Trading

Bitbuy is a Canadian exchange known for its high security and ease of use. It offers a decent selection of cryptocurrencies but has higher fees compared to some other global exchanges.
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.

Deposit and withdrawal

Bitbuy provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed within a day. Fees are slightly higher than some global exchanges but reasonable.
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 .

Account opening process

Bitbuy offers a simple and user-friendly account opening process. Users need to fill out personal information, verify their identity, and typically, the account is approved within a day. It’s secure and efficient.
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.

KYC required?

Yes
Yes

Customer Service

Bitbuy 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 drawback for some users.
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.

Security

Bitbuy offers robust security with 2FA, SSL encryption, and cold storage. It is regulated by Canadian authorities, ensuring high security for investors.
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.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I highly recommend Bitbuy for Canadian users looking for a secure and user-friendly platform to begin their cryptocurrency trading journey. While it does have higher trading fees and a somewhat limited range of cryptocurrencies, its strong regulatory compliance, excellent customer service, and transparent operations make it a trustworthy choice. For those prioritizing security and ease of use, Bitbuy is definitely worth considering.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

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.

View all comparisons against Bitbuy

View all comparisons against Okcoin

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 Bitbuy and Okcoin