OKEx vs KuCoin: Which is the Best Exchange in 2021?

The Crypto market has a lot of crypto exchanges to offer. Today, we will compare two of them, KuCoin and OKEx. Both the platforms have one of the highest trading volumes as per CoinMarketCap. So today, we will elaborate on these to help you make a clear choice between the two of them.

Summary (TL; DR)

  • KuCoin and OKEx are competitive crypto exchanges with comparable features.
  • In addition, both the exchanges provide many cryptocurrencies and trading pairs. However, KuCoin has higher leverage opportunities. 
  • Both of them have many payment options, with OKEx having an edge by accepting Wire Transfer. 
  • Again, both the exchanges have various order types with lending and borrowing facilities. 
  • Additionally, KuCoin offers trading bots and OKEx recently launched its own blockchain, OKExChain.
  • With fees in concern, KuCoin and OKEx are comparable. However, KuCoin takes the edge over OKEx, with a minute difference. 
  • Both the exchanges have mobile applications compatible with iOS and Android devices. 
  • Both the platforms are secure to trade on the exchange. In addition, both exchanges have multiple security strategies for a safe environment for crypto trading. 
  • The customer support base of both the exchanges is responsive and quick. However, OKEx aims at a comprehensive FAQs section. Contrarily, KuCoin aims at the live chat section. 

OKEx vs KuCoin: Overview

Both platforms have a lot of services and products to offer. Hence, we will give you a brief overview of both crypto exchanges.  

What is OKEx Exchange?

OKEx exchange aims to cover all the traders, from beginners to veterans, with possible customization. It operates in over 200 countries and offers 400+ trading pairs, multiple fiat currencies. Here, traders can convert many local currencies into BTC, ETH, USDT, or desired crypto assets with VISA, Mastercard, and many more payment options. Further, the exchange offers to trade-in Spot, Margin, DEX, Perpetual, Futures, and Options.

Moreover, traders can trade with various order types- limit, market, stop, and iceberg. Additionally, OKEx enables crypto borrowing & lending and advanced tools for mining and wallet management.

For more in-depth information, check out the OKEx review.

OKEx

What is KuCoin Exchange?

KuCoin is a cryptocurrency exchange platform based in Seychelles, supporting over 200 cryptocurrencies. The exchange aims to provide a safe and easy-to-use platform for the global audience to trade digital coins. In addition, it offers many trading pairs and crypto-related services. 

Moreover, it has a native utility token- KuCoin Shares (KSC) with additional discounts and passive income. Thus, the portal gives high liquidity to 6 million+ users in a simple, efficient, and transparent UI.

For more in-depth information about KuCoin Exchange, check out the KuCoin review.

KuCoin

KuCoin vs OKEx: Products

The primary function of a crypto exchange is the trading options offered. Hence, we will discuss trading options and a variety of KuCoin and OKEx. 

KuCoin Products

Margin Trading

KuCoin provides margin trading with leverage positions with over 15 cryptocurrencies like KCS, ETH, and BTC are available. In addition, KuCoin supports 35 trade pairs with up to 10X leverage. 

Futures Trading

KuCoin also provides futures trading where users can buy and sell crypto futures standardized contracts. On KuCoin, traders can trade coins margined contracts with up to 100X leverage. Furthermore, KuCoin has two different versions, one for beginners and the other for experienced traders.

OTC Trading Desk

KuCoin provides traders with OTC Desk- Over-The-Counter trading desk. This allows traders to buy a large number of crypto assets at specific prices. Furthermore, users can directly purchase USDT, BTC, and other cryptocurrencies with CAD, IDR, VND, and CNY. 

KuCoin Trading Bot 

KuCoin offers its in-house crypto trading bots. Moreover, the KuCoin trading bot comes with free trading strategies that allow traders to take returns without constant monitoring. Furthermore, traders need not connect to third-party bots service providers with API keys to KuCoin. Traders can start using the KuCoin trading bot by depositing funds, selecting a specified strategy, and enabling the bot. To learn more read, How to Use the KuCoin Bot?

Lending Platform

KuCoin Lending Platform allows traders to lend cryptocurrencies to other users and earn interest. The lender fills in details regarding the Loan Amount and the daily interest rate. Interest rates range from 0 to 0.2%. The lend duration period varies from 7 to 28 days. However, the default period is 28 days.

Kucoin Lending
Kucoin Lending

Also, read Best Crypto Lending Platforms.

KuCoin Pool

Pool-X is a next-generation POS platform that supports lockup crypto transactions backed by KuCoin. It provides an exchange for the liquidity of pledged assets. Users can get liquidity by trading the staked crypto assets. It helps lower the barrier of staking and helps increase the stake rate. Furthermore, it has a powerful and beginner-friendly exchange system.

Also, read Staking Crypto – An Ultimate Guide on Crypto Staking.

Peer-to-Peer Trading

KuCoin provides a P2P crypto marketplace allowing buying and selling using PayPal, among other convenient fiat payment methods. In addition, KuCoin has many cryptocurrencies options to trade. 

Automate your trades with KuCoin Trading Bots.

OKEx Products

Spot Trading

OKEx provides spot trading catering to beginners and experienced traders. It gives extensive trading experience, where traders can choose from a wide variety of trading pairs. In addition, traders can choose to spot trade among various primary and many rare and local cryptocurrencies.

For more details, read our guide to OKEx spot trading.

OKEx Margin Trading

OKEx also allows margin trading for more than 30+ crypto assets and trading types with a maximum leverage of up to 10X. Further, the total amount that a trader can borrow depends on three factors- margin account balance, primary account, and position margin ratio.

However, these limits vary upon many factors to reduce traders’ risks. For more details, read our guide to OKEx margin trading.

Margin Trade on OKEx
Margin Trade on OKEx

OKEx Futures Trading

The platform provides futures trading with a duration period of a week, two weeks, a quarter, or two quarters. OKEx provides to buy/ sell crypto-asset contracts for digital assets like BTC or LTC with up to 100x leverage. The platform has high liquidity and a variety of contracts. However, OKEx does not support fiat currencies. Additionally, OKEx gives a protection system against manipulation strategies in the market. To learn more, read OKEx Futures Trading.

Perpetuals

OKEx offers derivatives along with many other services. The OKEx perpetual swap is a virtual derivative product settled in digital currencies. It supports both coin-margined and USDT-margined perpetual swaps for multiple cryptocurrencies with leverage up to 125 X depending on position tiers. 

Loans 

OKEx offers a C2C Loan feature on the OKEx Earn section of the platform. Here, Users can either take a loan or lend money to other users to earn a passive income. Lending and borrowing loans on OKEx are easy. Moreover, the interest rates are competitive at which traders can draw or lend funds. 

OKEx Pool

Okex offers safe, stable, and efficient mining services for users. Furthermore, Okex Pool is a comprehensive cryptocurrency mining pool created by Okex. It is a one-stop mining and trading service for its users from across the world. It does not require any minimum pay-out or daily settlement. In addition, it has a flexible control of fluctuation risks and stable income flow. 

OKEx review: Pools
OKEx: Pools

OKExChain

OKEx provides a trading option called DEX that is a decentralized exchange. Their native blockchain called OKExChain powers the exchange. Furthermore, OKEx DEX is a borderless, decentralized trading platform with features like security, noncustodial asset and wallet, and a unique order matching mechanism. Here, traders enjoy additional benefits such as low fees and a seamless trading experience. 

Automate your trades with OKEx Trading Bots.

KuCoin vs OKEx: Fees

Fees for any trader play a vital role while deciding the exchange to trade. Crypto exchanges can consume a lot of portions of the profit with a high trading fee. Now, we will overview the fee structure for KuCoin and OKEx. 

KuCoin Fees

KuCoin has the lowest trading fees in comparison to any other altcoin exchange. Moreover, KuCoin charges a flat fixed fee of 0.1% for spot trading. Additionally, it provides fee discounts based on users’ 30-day trading volume and KuCoin Shares holdings. Apart from these, KuCoin offers adjustable USD/ USDT lending rates on futures.

Furthermore, KuCoin withdrawal fees are the lowest at 0.0004 BTC for BTC withdrawal. In Particular, deposit fees on KuCoin are zero. To learn more, read KuCoin Trading Fees, Deposit, & Withdrawal Fees.

KuCoin Trading Fees
KuCoin Trading Fees

OKEx Fees

OKEx offers multiple services and account types. Hence, the fee varies greatly depending upon the account type, the cryptocurrency trading, and the trading option. Moreover, the 30-day trading volume affects the price charged. Check the detailed OKEx trading fee and interest rate fee here.

Moreover, OKEx withdrawal fees and deposits are free. However, a network fee is chargeable for transactions. 

OKEx Trading Fees: VIP users
OKEx Trading Fees: VIP users

KuCoin vs OKEx: Mobile Apps

The crypto market is volatile and changes in seconds. It requires constant monitoring. Hence, Mobile applications are essential for crypto traders. Both KuCoin and OKEx have mobile applications.

KuCoin App

KuCoin provides a fully functional mobile application. Furthermore, its interface is attractive and offers real-time quotes synced with the official website, KuCoin Bonus & KuCoin referral program module, and a 24/7 accessible help center. Moreover, traders get real-time market trend views, constant information, and personal account information. In addition, traders get notifications regarding logins, KuCoin token price reaching your pre-set warning price, news & promotions, and asset change announcements. The KuCoin app is compatible with iOS and Android devices.

KuCoin Mobile App
KuCoin Mobile App

OKEx Mobile App

OKEx provides a mobile application for both Android and iOS devices. It is an all-in-one trading app for cryptocurrency trading. With the application, users can buy and sell digital assets in all forms regardless of the time and place. The application also displays real-time streaming quotes, enables deposit and withdrawal of funds, and storage for crypto coins in built-in digital wallets.

OKEx Mobile App
OKEx Mobile App

OKEx vs KuCoin: User Interface

Traders spent a lot of time on the trading platform. Hence, the user interface is essential for exchanges and traders. Moreover, A simple UI makes trading easy for traders to trade on the portal.

KuCoin User Interface

The KuCoin interface comes with a quick guide and navigation. Furthermore, the overall interface is black and green which is simple and soothing to the eyes. 

OKEx User Interface 

OKEx has a simple and easy-to-navigate interface. The trading platform is simple and comes in a dark mode to provide a breeze to the eyes. The overall procedure for trading can be lengthy, but the exchange is user-friendly.

KuCoin vs OKEx: Security

Security is essential to preserve user data and funds. Hence, traders need to consider if the exchange is secure. 

Is KuCoin safe?

KuCoin takes various security measures. Firstly, it has bank-level asset security to ensure the safest environment possible for all transactions and KuCoin account holders. Secondly, it employs micro-withdrawal wallets to both splits. 

Moreover, it secures withdrawals with dynamic multi-factor authentication, industry-level multilayer encryption, and a dedicated internal risk control department. Further, the KuCoin team regularly monitors the exchange to ensure strict security standards. 

Is OKEx safe?

OKEx is the safest crypto exchange with many security actions. Firstly, it uses innovative technologies like the cold wallet and core private key encryption algorithm. Hence, these strategies make it an advanced platform with the best private encryption.

Moreover, OKEx complies with the Virtual Financial Asset Act (“VFAA”) and regulates under the authority of the Malta Financial Services Authority. 

Further, there are few other ways through which users can ensure security on their behalf.

  • Verification code on the email 
  • Verification code on the phone
  • Two Factor Authentication

Customer Support

Every exchange needs to ensure responsive and quick customer support to ensure trader satisfaction and reliability. Solving customer queries and 24*7 responsive crew teams make up a strong customer support base. 

OKEx vs KuCoin: KuCoin Support 

KuCoin has comprehensive customer support consisting of three building blocks. 

Firstly, customer support is available 24*7. Secondly, an extensive FAQ section is available on the website. It readily answers all the possible questions of a trader regarding the exchange. Thirdly, it constantly monitors the platform to ensure security and provide support without any delay. 

Moreover, the customer support base of KuCoin focuses on trade issues of traders. Further, they take immediate action, where help is available 24/7. Additionally, it supports the feature of live chatting on the website to solve queries. 

KuCoin Support
KuCoin Support

OKEx vs KuCoin: OKEx Support

OKEx offers 24*7 assistance over various modes. Firstly, OKEx has a stable and reliable support team that traders can contact here. Secondly, it has an additional dedicated FAQ section. Thirdly, traders can enquire about their doubts by submitting a request here

Additionally, traders can directly chat with their customer support team. Furthermore, Users can contact the members on their platform directly through their community section.

KuCoin vs OKEx: Conclusion

KuCoin and OKEx are comprehensive platforms with many trading pairs, cryptocurrencies, services, and high trading volume.

Both of them make it to the top 20 of the trading volumes of CoinMarketCap. Moreover, the fees, security, and customer support on both exchanges are competitive. Further, both the platforms have a tier-based fee structure and a native utility token. However, OKEx seems beginner-friendly as well, with limited and calculated risk exposure.

Both the exchanges are similar in many aspects and comparable. Hence, traders should choose one wisely, depending upon their needs and work style.

Frequently Asked Questions

Is KYC necessary to trade on OKEx?

No, KYC is not mandatory for trading on the OKEx trading platform. However, traders with complete KYC get extra perks, like an increase in daily withdrawal limits.

Does OKEx allow the US Traders?

No, OKEx supports many countries except the US. However, it does not offer its services to US citizens due to strict regulations.

Where is KuCoin located?

KuCoin is a crypto exchange based in Seychelles.

Is KYC verification necessary on KuCoin?

Yes, all KuCoin users need to complete the KYC verification. The verified traders also enjoy a higher 24-hour KuCoin withdrawal limit. Moreover, KYC acts as a security strategy that helps to reduce money laundering, fraud, terrorist financing, and other malicious activities.

However, traders can still make small transactions without a verified account.

Does KuCoin support fiat currencies? Does it accept Credit Cards?

Yes, KuCoin accepts 20+ different fiat currencies for trading on the exchange. Moreover, KuCoin partners with Banxa to enable crypto purchase via VISA/ Mastercard, Apple Pay, and many other payment options.

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Prabhat Tiwari
I am someone who loves swimming in the ocean of DeFi and believes the disruptive technology, i.e., Bitcoin will change a lot of things and not just our financial system.

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