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Bybit vs OKX

Bybit vs OKX

Compare Bybit's wide crypto selection and strong regulatory stance with OKX's focus on DeFi and Web3 integrations in this detailed review.

Summary: Bybit is available to users across more than 160 countries and offers a diverse collection of over 1,100 cryptocurrencies to trade on spot and futures markets with 100x leverage. OKX supports 350 digital assets and services users in 150 countries but does not maintain as wide a reach in terms of international operation and regulation.

Bybit focuses on providing a regulated, secure and feature-rich trading environment to users worldwide, OKX appeals to users with its variety of DeFi and Web3 applications, though it lacks the same level of global licensing.

Bybit vs OKX Winner: Bybit 🏆
5 out of 5 by Datawallet
Bybit is the better exchange compared to OKX due to their deeper liquidity, larger presence in the crypto community, lower fees and better overall user experience.
Available Assets
1100+ via Spot, Derivatives & Options Trading
Trading Fees
0.1% Spot Trading & 0.02% Maker and 0.055% Taker for Futures
Security
Regulated with an Audited 1:1 Proof-of-Reserves

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Bybit vs OKX Overview

Bybit and OKX are among the most popular exchanges in the global cryptocurrency market, each generating billions of dollars in daily trading volume. Bybit accommodates over 28 million users from 160 countries, with daily trading volumes exceeding $2 billion. It supports an extensive range of 1,100 crypto assets for spot, futures, and options trading with 100x leverage. The platform's reputation as a reliable platform is a testament to the leadership of esteemed Singaporean entrepreneur and CEO, Ben Zhou.

OKX also offers a robust trading environment with a slightly different focus. It supports over 350 digital assets for spot, futures, and options trading along with additional crypto financial services like staking, lending, and, a unique feature, its own blockchain ecosystem development. OKX’s innovations in the crypto space are designed to attract traders who are interested with DeFi and Web3 space, with integrations like an NFT marketplace and on-chain yield farming.

This comparison table offers insights into each platform's features, helping users make informed decisions based on factors like asset availability, fees, security, and extra services.

Features Bybit OKX
Headquarters Dubai Seychelles
Company Type Centralized Exchange Centralized Exchange
Available Assets 1,100+ 350+
Regulation and Licensing Tier-1 Regulators Not Regulated in Any Country
Fees Spot Trading (0.1%), Futures Trading (0.02% to 0.055%) Spot Trading (0.15%), Futures Trading (0.02% to 0.06%)
KYC Verification Required Yes Yes
Staking Coins 400+ Assets and Pairs with Staking Support 100+ Assets with Staking Support
Deposit Methods Bank Transfers, SEPA, Credit Cards, Google Pay, Apple Pay, E-Wallets and more. Bank Transfers, SEPA Transfers, Credit Cards, E-Wallets and more.
Available in the USA No No
Total Users 28 Million 10 Million

Futures Trading

Bybit gained popular for its comprehensive futures trading platform that supports over 180 different futures contracts and offers the potential for up to 100x leverage. A standout feature is its 99.99% server uptime, which substantially contributes to a reliable trading experience. It enhances its trading services with features such as copy trading, automatic trading bots, and a demo account that allows traders to practice their strategies with nofinancial risk.

OKX also presents a strong futures trading setup. It supports a wide range of futures contracts, including those pegged to both cryptocurrency and USDT, with leverage also peaking at 100x. While OKX might offer fewer contracts compared to Bybit, it compensates with comprehensive trading tools and a robust platform that also includes additional crypto-financial services like staking and crypto lending.

Both platforms offer robust futures trading options, but Bybit’s extensive range of contract types and its high server reliability might appeal more to traders who prioritize a broad selection and technical stability.

OKX Futures.

Bybit and OKX Regulation

When choosing a cryptocurrency exchange, the security measures and regulatory compliance of each platform are crucial factors to consider. Bybit, based in Seychelles, has been making significant advances in compliance and regulatory recognition, securing licenses in Cyprus and an initial approval in Dubai. These achievements are indicative of Bybit's proactive approach to align with international regulatory frameworks.

OKX has been actively involved in enhancing its regulatory stance. Although OKX does not operate under a single national regulatory body, it is vigorously pursuing accreditations and licenses in important markets, including countries in the Asian region. Efforts to boost its regulatory standing show OKX's dedication to security and compliance, mirroring its commitment to user safety and international financial laws.

In comparison, while OKX is expanding its regulatory achievements, Bybit shows a slightly more advanced stage with its already secured international licenses. However, both platforms demonstrate a strong focus on ensuring they operate within the required legal frameworks.

Bybit Proof of Reserves.

Bybit vs OKX Fees

Understanding the fee structure of cryptocurrency exchanges is essential for traders who are planning their investment strategies. Bybit and OKX both adopt the maker-taker fee structure for their spot and futures trading services. Below is an overview of the fees:

Bybit Fees:

  • Spot Trading Fee: 0.1%
  • Futures Trading Maker Fee: 0.02%
  • Futures Trading Taker Fee: 0.055%

Bybit offers a transparent fee structure and allows for free deposits in more than 65 fiat currencies.

OKX Fees:

  • Spot Trading Fee: 0.15%
  • Futures Trading Maker Fee: 0.02%
  • Futures Trading Taker Fee: 0.06%

OKX features competitive fees, although slightly higher for spot and futures trading compared to Bybit. 

When assessing both platforms, Bybit and OKX offer compelling fee structures conducive to different trading needs and preferences. Bybit's lower fees across the board make it particularly attractive for those who trade frequently and look for cost efficiency.

Other Products and Services

Bybit and OKX are amongst the most versatile platforms in the crypto trading world, offering a multitude of features catering to the diverse needs of global digital asset investors. Here's a summary of their unique offerings:

Bybit Features:

  1. Derivatives Trading: The world's #1 derivatives and options trading platform for 1000+ cryptocurrencies with deep liquidity and 0.02% Maker and 0.055% Taker fees.
  2. Earn Products: Provides fixed and flexible savings options to earn high returns on several cryptocurrencies and stablecoins like USDT and USDC with up to 120% APY.
  3. Bybit Launchpad: An IDO and ICO platform for now crypto projects that are released exclusively to Bybit account holders. 
  4. Security: Incorporates 2FA, multi-signature withdrawals, cold storage, and regularly audited 1:1 asset reserves. Bybit also requires full KYC and identity verification.
  5. Multilingual Customer Support: Has 24/7 customer support in over 40 languages through the live chat feature and online communities, such as Telegram and Discord.
  6. Bybit Blockchain (Mantle): Developed a zk-rollup Layer 2, "Mantle", to facilitate DeFi applications within the Bybit community.

OKX Features:

  1. Derivatives and Options: Offers over 100 cryptocurrencies for derivatives and options trading with leverage options up to 100x available.
  2. OKX Wallet: Provides a native crypto wallet that can be connected to popular DeFi applications like UniSwap, AAVE, Synapse Protocol and more.
  3. OTC Trading: Facilitates OTC trading for high-net-worth and institutional investors who open a trade over $100k and seek white-glove services.
  4. Staking Options: Proposes earning through flexible and fixed savings accounts, staking, and DeFi yield farming both on-chain and off-chain.
  5. Security: Ensures safety with 2FA, sophisticated security protocols, and cold storage facilities. OKX also requires full KYC from all its users in order to deposit, trade and withdraw money.
  6. User Interface: Provides an intuitive interface supported in 12 languages, complemented by a user-friendly mobile app and desktop platform.
  7. OKTChain: OKX's own blockchain, OKTChain, extends decentralized exchange capabilities, offering users access to various DeFi products like an NFT marketplace.
Bybit Futures.

Bottom Line

In conclusion, both platforms are great options but Bybit comes out on top with its extensive cryptocurrency selection, unique features, widespread availability and global compliance. Though OKX offers fewer deposit options, it excels in delivering a broader range of DeFi related products and services. However, choosing between Bybit and OKX ultimately depends on individual trading needs and goals, underlining the need for a comprehensive assessment of each platform's unique offerings.

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