Comparison of Okx vs Blocktrade [ 2024 ]

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

Your expert: Alejandro Borja

Okx

Investing risks losing your money

Your expert: Xavier Tarrasó

Blocktrade

Investing risks losing your money

Main points

Fees

≤0,10%

Earns

Customer service

4/5

0,30%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

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 with additional benefits for European traders.

Level

≤0,10%

0,30%

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.

Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.

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

Blocktrade

Possible Regulation: Blocktrade operates under the regulatory oversight of the Estonian Financial Intelligence Unit and has a legal entity registered in Luxembourg. This adherence to stringent European financial laws ensures a high level of operational integrity and compliance, making it a trustworthy platform for traders.
Security Methods: The platform employs advanced security measures to protect user assets and data. These include the use of secure servers, encryption protocols, and a robust internal security framework. The commitment to security is crucial in gaining and maintaining the trust of users.
Transparency: Blocktrade is known for its clear and transparent operational practices. This includes straightforward disclosures about trading fees and the risks associated with trading cryptocurrencies. Such transparency is essential for building trust with users who value clear and honest communication.
Customer Service: Blocktrade offers dedicated customer support, providing users with timely and helpful assistance on a range of issues, from technical support to transaction inquiries. Good customer service is instrumental in building trust, as it ensures users that the exchange is responsive and attentive to their needs.
Trading Volume and Liquidity: While not among the largest, Blocktrade maintains a healthy trading volume and liquidity, which indicates a stable trading environment. This liquidity is vital for users to execute trades efficiently without significant price slippage, further enhancing trust in the platform’s capabilities.

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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.

Blocktrade S.A.

Regulation

Not regulated

Regulated in the UE

Year founded

2014

2018

Founder

Star Xu

Luka Gubo

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Okx	FEATURES	Blocktrade
OKX allows relatively low minimum trade volumes, making it accessible for beginners to start trading without a significant initial investment.	Minimum Trade	Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
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 within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
OKX supports a wide array of cryptocurrencies, with hundreds of options available, catering to a diverse range of trader preferences.	Number of Cryptocurrencies	Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
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 basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
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 about trading conditions and fees, though some users might seek more detailed data on security practices.
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	Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
The exchange offers secure storage options, including cold storage, ensuring a high level of security for user funds.	Storage Offering	Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
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	Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
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 well-designed, making trading accessible for all user levels.
Customer service is available and functional but often criticized for slow response times during high-demand periods.	Customer Service	Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
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	Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, OKX Earn

Staking, Blocktrade Earn program, advanced trading tools, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

300+

10+

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.

Blocktrade provides a straightforward and easy-to-use platform, 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.

Provides decent value for money with competitive fees and a focus on European markets, making it a good choice for regional users.

Countries of operation

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

Germany, Austria, Switzerland, Slovenia, France

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 European investors looking for a reliable platform with competitive fees and a focus on security.

Base currencies available

USD, CNY, BTC, USDT

EUR, 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.

Blocktrade offers a straightforward trading experience with a limited selection of cryptocurrencies. It focuses on security and ease of use, making it suitable 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 .

Blocktrade provides standard deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

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.

Blocktrade’s account opening process is simple and fully digital. Users need to submit personal details and verify their identity. The process is quick 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.

Blocktrade 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

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

Blocktrade ensures security through 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users.

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 highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.

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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.