Quick Answer:
Experienced traders seeking low fees & diverse assets (350+ coins) should choose OKX despite its complex interface. Beginners prioritizing user-friendliness and established coins should opt for Coinbase, even though it has higher fees and limited altcoins.
OKX generally boasts lower trading fees than Coinbase. However, for buying crypto with cash, Coinbase might be cheaper due to its built-in fiat services.
Page Contents
OKX and Coinbase Overview
The world of cryptocurrency can be overwhelming, especially when it comes to choosing the right crypto exchange to buy, sell, and trade your digital assets. Two prominent players in the market are OKX and Coinbase, both offering a variety of features and functionalities. Our goal here is to present the facts so you can decipher which exchange is best for you.
This comparison dives deep into the key features of Coinbase and OKX, helping you make an informed decision based on your individual needs and preferences.
You may want to check out our in-depth reviews for each below:
For more on crypto exchanges you may want to check out our Best Crypto Exchanges in the UK for 2024
Please note: This guide is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any investment decisions.
Review Score 4.1/5
MEXC
Launched in 2018, MEXC empowers users with a user-friendly platform for spot, margin, and futures trading. Boasting robust security, a vast coin selection, and innovative features like staking and DeFi, MEXC has attracted over 10 million users worldwide, solidifying its position as a leading cryptocurrency exchange.
Review Score 4.35/5
OKX
OKX sets a high standard in the crypto exchange market with its intuitive interface, appealing to both beginners and experienced traders. The platform offers a broad spectrum of financial services, including derivatives trading, savings, mining pools, and DeFi products. Its robust security measures and global accessibility make it a preferred choice for users worldwide.
 OKX |
Coinbase | |||
Spot Crypto | 350+ | 390+ | ||
FCA Regulated | ||||
Founded | 2017 | 2012 | ||
HQ | Seychelles | California | ||
Native Token | OKB | |||
 | 3.2/5 | 1.5/5 | ||
Staking | ||||
Leverage | Non UK | Non UK | ||
Mobile App | ||||
DEFI Wallet | ||||
Beginner Friendly | 4/5 | 4.5/5 | ||
Demo Account | ||||
Available in UK | ||||
Review Score | 4.35/5 | 4.35/5 | ||
* Please refer to the exchange website for up to date information. | ||||
OKX Strengths & Weaknesses
- Extensive features: Offers spot, margin, futures, and derivatives trading, staking, and DeFi products.
- Low fees: Generally boasts lower fees compared to Coinbase, especially for frequent traders.
- Wide range of assets: Supports over 350 tradable cryptocurrencies, including a vast selection of altcoins.
- Advanced order types: Provides various order options for precise trade execution.
- Complex interface: Might be overwhelming for beginners due to its abundance of features.
- Limited fiat on and off-ramping options: Primarily focuses on crypto-to-crypto trading, especially for users outside specific regions.
- Less established: Compared to Coinbase, has a shorter track record in the industry.
Coinbase Strengths and weaknesses
- User-friendly interface: Easy to navigate and understand, ideal for beginners.
- Strong reputation: Established and well-regulated exchange with high user trust.
- Fiat on and off-ramping options: Seamless integration with traditional finance allows for easy buying and selling with fiat currency.
- Focus on established coins: Offers a curated selection of well-known and reliable cryptocurrencies.
- Limited features: Primarily focuses on spot trading, with limited options for advanced trading strategies.
- Higher fees: Charges generally higher fees compared to OKX, especially for altcoin trading.
- Limited selection of altcoins: Offers a smaller selection of tradable cryptocurrencies compared to OKX.
Which has the Lowest Fees
| Feature | OKX | Coinbase |
|---|---|---|
| Spot Trading Fees | Starts at 0.08% maker, 0.10% taker (discounts for holding OKB) | 1.49% - 3.99% (varies based on transaction size and payment method) |
| Coinbase Pro Spot Trading Fees | Na | 0.50% maker, 0.50% taker (separate account and interface required) |
| Margin Trading Fees | Starts at 0.01% - 0.05% interest rate, additional fees for borrowing based on asset and leverage | Not available for all users, varies based on asset and leverage |
| Futures Trading Fees | Starts at 0.02% maker, 0.05% taker (discounts for holding OKB) | N/A |
| Deposit Fees | Varies depending on the deposit method (generally free for crypto deposits) | Varies depending on the deposit method (e.g., ACH transfer: free, wire transfer: $25) |
| Withdrawal Fees | Varies depending on the withdrawal method and cryptocurrency (generally lower than deposit fees) | Varies depending on the withdrawal method and cryptocurrency (e.g., Bitcoin withdrawal: ~$25) |
Which Has the Lowest Fees verdict:
OKX generally boasts lower trading fees than Coinbase. However, for buying crypto with cash, Coinbase might be cheaper due to its built-in fiat services.
Notes:
- Holding OKB on OKX can further reduce trading fees.
- Coinbase offers a more beginner-friendly fee structure with a single fee for spot trading, but the fees are generally higher than OKX.
Which is safest?
Overview
Both OKX and Coinbase prioritize user security, implementing robust measures to safeguard your digital assets. Here’s a quick breakdown:
- OKX: Stores 95% of user funds in offline cold storage, utilizes multi-factor authentication (MFA), and undergoes regular security audits by reputable firms.
- Coinbase: Offers insurance protection for held crypto assets (up to $250,000) and FDIC insurance for USD cash balances (up to $250,000) for US customers. They also employ industry-standard security practices like cold storage, MFA, and regular security assessments.
While both exchanges prioritize security, Coinbase may hold a slight edge for users seeking additional peace of mind due to its FDIC insurance for USD holdings. However, it’s important to remember that no exchange is entirely immune to security risks.
Which is Safest Verdict
According to cer.live Coinbase is the safer exchange with a AAA 97.1% rating comoared to OKX’s AA 81.8%. But Ultimately, the “safest” exchange depends on your individual priorities and risk tolerance.
- Choose OKX if you prioritize low fees, a wider range of trading options, and comfortable with a non-US regulated platform.
- Choose Coinbase if you prioritize FDIC insurance for USD holdings, a user-friendly interface, and prefer a US-regulated platform.
Which is Best for Trading?
What Trading Options and Tools are Available?
OKX: Caters to experienced traders with a comprehensive suite of features including:
- Spot trading: Buy and sell crypto at current market prices.
- Margin trading: Borrow funds to amplify potential gains (and losses).
- Futures trading: Speculate on future cryptocurrency prices through contracts.
- Advanced order types: Stop-loss, take-profit, and trailing stop orders for precise risk management.
- Deep liquidity: Ensures smooth execution of trades, even for large orders.
Coinbase: Focuses on a simpler approach, offering:
- Spot trading: Buy and sell a limited selection of cryptocurrencies.
- Limited order types: Basic buy and sell orders without advanced options.
- Lower liquidity: May experience higher slippage (difference between intended and actual price) for larger trades.
Which is More User Friendly?
OKX: Offers a powerful platform with a variety of features, which can be overwhelming for beginners. The interface might require some time to navigate and understand, especially for those new to cryptocurrency trading.
Coinbase: Boasts a simple and intuitive interface, making it easy for beginners to navigate and understand the basics of buying and selling crypto. However, this simplicity comes at the cost of limited functionalities compared to OKX.
Verdict: For beginners seeking a user-friendly platform to get started with cryptocurrency, Coinbase is the better choice. However, experienced traders who prioritize advanced features may find OKX more suitable once they become comfortable with the platform.
Verdict: Which is Best for Trading?
- Choose OKX if you’re an experienced trader seeking diverse trading options, advanced tools, and deep liquidity. You’re comfortable with a more complex interface and are willing to invest time in learning its functionalities.
- Choose Coinbase if you’re a beginner prioritizing a user-friendly experience and want to get started with simple buy and sell options. However, keep in mind the limited functionalities compared to OKX.
Verdict: For experienced traders seeking diverse trading options and advanced tools, OKX is the clear winner.
However, for beginners who prioritize simplicity and a user-friendly experience, Coinbase might be a better starting point.
Investing Top Tip
Consider Exploring Diversification: Many investors find value in diversifying their portfolios across a variety of asset classes, such as stocks, bonds, and commodities. It’s often suggested that diversification can be a good strategy to spread potential risks, as it avoids putting all of your eggs in the same basket.
Which Has the Best Mobile App?
Beginner-Friendly Interface:
If you’re new to cryptocurrency, Coinbase might be a better fit. Its app boasts a simpler and more intuitive interface, making it easier to navigate and find the features you need. Additionally, Coinbase offers valuable educational resources within the app, helping you learn the ropes of crypto trading.
Advanced Features for Experienced Traders:
For experienced traders seeking a wider range of functionality, OKX could be the better choice. Their app provides advanced features like margin trading, futures contracts, and in-depth technical analysis tools. However, it’s important to note that OKX’s interface can be less user-friendly and require a steeper learning curve.
Security on Both Platforms:
Both Coinbase and OKX prioritize security, implementing measures like two-factor authentication and biometric login to safeguard your crypto assets.
Which has the Best Mobile App
Although they are both very good, Coinbase’s mobile app shines with its simple interface and learning resources. OKX’s app offers advanced features like margin trading, but be prepared for a steeper learning curve. Potentially better aligned with experienced traders.
Which is Best for Altcoins?
Supported Altcoins:
- OKX: Boasts a massive selection exceeding 350 tradable cryptocurrencies, encompassing a diverse range of established and emerging altcoins. This extensive library allows for in-depth exploration and potentially greater diversification within your portfolio.
- Coinbase: Offers a comparatively limited selection of around 150 tradable cryptocurrencies, primarily focusing on well-established and highly recognized options. While this curated selection might be suitable for beginners, it significantly restricts your access to the broader altcoin market.
Trading Options for Altcoins:
OKX: Provides a comprehensive suite of trading options for altcoins, including, Spot trading, Margin trading, Futures trading, Advanced order types.
Coinbase: Primarily focuses on spot trading for altcoins, limiting your options for exploring advanced trading strategies.
Verdict:
For exploring and trading a wider range of altcoins with potentially lower fees and advanced trading options, OKX is the clear frontrunner.
Coinbase, on the other hand, might be a simpler option for beginners due to its limited altcoin selection and focus on spot trading. However, this comes at the cost of limited access and potentially higher fees.
Choosing Between OKX and Coinbase in 2024: A Summary
This guide compared two popular cryptocurrency exchanges, OKX and Coinbase, to help you decide which one better suits your needs.
Are you a beginner looking for a simple and user-friendly platform to buy and sell established cryptocurrencies? Then Coinbase might be a good fit for you, with its intuitive interface, seamless fiat on-and-off ramping options, and focus on well-known coins.
Are you an experienced trader seeking advanced features, low fees, and access to a wider range of cryptocurrencies, including altcoins? Then OKX could be a better choice, offering features like margin trading, futures trading, and a vast selection of tradable assets. However, be aware that OKX’s interface might be more complex for beginners.
Ultimately, the best platform for you depends on your individual needs and experience level. Conduct your own research, consider your risk tolerance, and explore both options (if possible) before making a decision.
Final verdict
Choosing the right cryptocurrency exchange hinges on your individual needs and priorities. Both OKX and Coinbase excel in different areas, making the “best” platform subjective. Here’s a recap to help you decide:
Choose OKX if:
- You’re an experienced trader seeking powerful features like margin trading, futures trading, and advanced order types.
- You prioritize low fees and access to a vast selection of cryptocurrencies, including a vast altcoin selection (over 350).
- You’re comfortable with a more complex interface and are willing to invest time in learning its functionalities.
Choose Coinbase if:
- You’re a beginner seeking a user-friendly platform with a simple and intuitive interface.
- You value security and a strong reputation in the cryptocurrency exchange landscape.
- You prioritize seamless fiat on-and-off ramping options for easy buying and selling with traditional currency.
- You’re primarily interested in established and well-known cryptocurrencies.
Remember, this is just a starting point. It’s crucial to conduct your own research, consider your investment goals and risk tolerance, and explore both platforms (if possible) before making a final decision.
FAQs
Yes, Coinbase is widely regarded as a good exchange, known for its user-friendly interface, strong regulatory compliance, and robust security measures. It’s a popular choice among both new and experienced cryptocurrency traders and investors.
OKX stands out as a good exchange due to its comprehensive range of trading options, including spot, futures, and options trading. It offers a high liquidity platform with competitive fees and is suitable for traders of all levels.
Compared to other platforms, Coinbase fees can be considered high, especially for small transactions. The fees vary depending on the payment method and transaction size, but it maintains transparency about its pricing structure.
OKX is known for its robust security measures, including industry-standard encryption and two-factor authentication (2FA). Its commitment to security makes it a safe platform for trading and storing cryptocurrencies. Click here for our blog Is OKX safe?
OKX and Coinbase are cryptocurrency exchanges that allow users to buy, sell, and trade a wide range of digital assets. While Coinbase is known for its ease of use and regulatory compliance, OKX offers a broader range of trading products and competitive fees.
Coinbase is generally better for beginners due to its straightforward interface, educational resources, and simplicity in buying and selling cryptocurrencies. It’s designed to make entering the crypto market as easy as possible.
Coinbase is tailored for novice users with a simple interface for basic trading, while Coinbase Pro offers advanced trading features, lower fees, and more detailed analytics for experienced traders.
Choosing between OKX and Coinbase depends on your trading needs and experience. If you prefer a wide range of trading options with competitive fees, OKX might be your choice. For ease of use and a focus on security and regulation, Coinbase could be more suitable.
References
Epilogue
Who Created This Content: This guide was authored by Adam Woodhead
Integrity and transparency are cornerstones of how I operate, both professionally and within the scope of TIC. I am committed to providing honest, reliable information that you can count on. Whether you’re just starting out or you’re an experienced investor looking to fine-tune your strategies, We are here to help.
How This Content Was Created: Our assessment of whether MEXC or OKX is better is rooted in rigorous research and first-hand experience. Here’s our methodology:
Platform Testing: We actively tested multiple platforms over a span of six months, analysing their functionalities, ease of use, and reliability.
Fee Analysis: Each platform’s fee structure was dissected to ascertain its competitiveness in the market.
User Feedback: We engaged with real users and considered their reviews and experiences, lending a holistic perspective to our evaluation.
Market Dynamics: Regular updates from industry news, changing regulations, and market dynamics ensure the guide remains current and reliable.
AI-Assistance: While human judgment and expertise are at the core of our assessments, we utilized AI tools to improve structure, critique our work.
Note: Our use of AI tools is strictly for data gathering and content assistance. All conclusions drawn and recommendations made are based on human analysis and judgment.