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CN In Malaysia, OKEx, Huobi and Binance are among the three most commonly used cryptocurrency trading platforms. For cryptocurrency investors, it is very important to choose an exchange that is right for you. This article will compare the three exchanges OKX, Binance and Huobi from the perspective of a cryptocurrency investor to determine which exchange is more suitable for you.
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目录表
What are the top three cryptocurrency exchanges?
The three well-known exchanges in the Malaysian currency circle are Binance, OKX, and huobi. The following is a detailed introduction to each exchange:
Binance
Binance is the second best cryptocurrency trading platform in Malaysia, with more than 120 million users, covering more than 100 countries, and is a large global company. The platform provides a wealth of functions, including spot trading, futures trading, margin trading, options trading, deposit services and decentralized exchanges (DEX). It also offers 24/7 multilingual customer support, including Bahasa Malaysia.
Binance stands out and is widely recognized among its peers because it has deep liquidity and the widest trading volume of crypto assets. This unique feature provides users with an added advantage, allowing even large-volume transactions to proceed smoothly, further enhancing its appeal among Malaysian investors. If you’d like to learn more about this powerful exchange and its unique capabilities, check out our comprehensive Binance review.
OKX
OKX (OKEx) ranks fifth in the Malaysian market with its strategic focus on serving institutional investors. The platform offers advanced trading tools, a wide selection of cryptocurrencies, and competitive trading fees. It supports a variety of trading instruments, including futures, options and margin trading, providing institutional clients with greater flexibility and risk management capabilities. OKX also provides over-the-counter trading desk services.
The platform’s commitment to security and compliance, as well as comprehensive API services, make it a compelling choice for Malaysian institutional investors looking for a reliable and trustworthy platform. If you'd like a more comprehensive understanding of OKX's products and value proposition, consider reading our extensive OKX review.
HUOBI
Huobi Global is an exchange founded in China in 2013 by Li Ang. Since 2017, Huobi has begun to expand globally and has established branches in South Korea, Japan, Singapore, and Hong Kong. In November 2022, the Huobi brand was acquired by Baiyu Capital and renamed "Huobi". At the same time, Sun Yuchen, a well-known figure in the cryptocurrency industry, was hired as a consultant. Currently, Huobi has more than 10 million registered users, serves users in more than 130 countries, and offers more than 500 currency pairs and more than 160 derivatives transactions.
Huobi's team, whether senior executives or front-line employees, adheres to the philosophy of "integrity, rigor, innovation, and cooperation" and provides professional and excellent digital currency basic services with user experience as the core.
Bitcoin Exchange Review: General in Malaysia
We will horizontally compare the characteristics of major mainstream platforms in terms of Chinese user friendliness. These features include the ease of use of the interface, supported payment and withdrawal methods, professional trading features, and the convenience and versatility of global access. It should be noted that due to national conditions, the original domain names of some platforms require the use of special tools to access.
| Huobi Huobi | BinanceBinance | OKX |
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Evaluation of Exchange Functional Diversity
We horizontally compare the website digital functions, trading tools and derivative financial products provided by major mainstream platforms for Chinese trading users. Generally speaking, these platforms provide relatively complete basic and extended functions. Huobi and Binance are more active in event operations, while Binance’s ecosystem is relatively more complete. OKEX may appear less active in comparison.
These platforms provide a wealth of functions, including spot trading, futures trading, leverage trading, etc. They also offer a diverse selection of digital currencies as well as professional trading charting and analysis tools. In addition, they also provide some derivative financial products, such as options trading, etc., to meet the diverse needs of users.
Huobi and Binance are active in event operations and may provide more promotions and reward mechanisms to attract users to participate in transactions. Binance’s ecosystem is relatively more complete and may provide more cryptocurrency-related services and projects.
In comparison, OKEX may have relatively little activity operations, and may not actively launch various activities like Huobi and Binance. However, OKEX, as a trading platform, still provides basic trading functions and digital currency options.
| Huobi Huobi | BinanceBinance | OKX |
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Exchange security review
After long-term security maintenance and consolidation, some old Bitcoin exchanges are relatively reliable in terms of technology platforms. Due to the support of trading operation income, these exchanges themselves have no motivation for short-term profit behavior, and most of them have certain effective guarantee mechanisms to supervise and manage third-party traders. In addition, combined with the use of personal cold wallets or electronic wallets, risks can be minimized.
On April 16, 2021, due to the surge in trading volume, Huobi Exchange once again experienced a network failure, resulting in users being unable to log in and possibly causing position losses. Although Binance Exchange has a large trading volume, its system software and hardware are relatively in place, and its services are basically stable. Eureka's trading volume is relatively small, so it has less impact on the overall market.
It should be noted that despite the advantages of established Bitcoin exchanges in terms of security and reliability, market conditions and platform performance may still change over time. When choosing an exchange, users are advised to consider various factors and make decisions based on their own needs and risk tolerance. At the same time, make sure to take appropriate security measures, such as using a personal cold wallet or electronic wallet to keep your assets safe.
| Huobi Huobi | BinanceBinance | OKX |
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OKX, Huobi, Binance fee comparison: Which one has the lowest fee? Which one has the smaller margin?
1. Main factors affecting handling fees
For newcomers to mainstream exchanges such as Binance, Huobi, and OKX, here are the factors related to handling fees that you need to understand:
Maker or Taker: Maker refers to the pending order transaction, that is, the entrusted price is not executed immediately; Taker refers to the taker transaction, that is, taking out other people's pending orders. The transaction fee for pending orders is usually less than or equal to the transaction fee for taker orders.
Whether to use platform currency for deduction: Binance and Huobi support the use of platform currency to deduct handling fees and provide more favorable handling rates; while OKX currently does not support platform currency deduction.
2. Coin-to-crypto transaction fees
No platform currency deduction required
- Binance handling fee: 0.1% for placing orders, 0.1% for taking orders;
- Huobi handling fee: 0.2% for placing orders and 0.2% for taking orders;
- OKX handling fee: 0.1% for placing orders, 0.15% for taking orders;
It can be seen that without the use of platform currency deductions, the currency transaction fees of the three major exchanges range from one thousandth to two thousandths, and Binance has the lowest fee at this time.
Use platform currency to deduct
- Binance handling fee: 0.075% for placing orders, 0.075% for taking orders;
- Huobi handling fee: 0.2% for placing orders and 0.2% for taking orders;
- OKX handling fee: platform currency deduction is not supported;
It can be seen that Binance has the lowest handling fee when using platform currency for deduction.
3. Contract transaction fees
- Binance handling fee: 0.02% for placing orders, 0.03% for taking orders (higher-level users have lower handling fees);
- Huobi handling fee: 0.02% for placing orders, 0.03% for taking orders;
- OKX handling fee: 0.02% for placing orders, 0.05% for taking orders;
As a new user, Binance and Huobi have lower contract transaction fees; while for advanced users, Binance has even lower fees.
In comprehensive comparison, Binance is the most friendly exchange to traders. Whether it is currency trading or contract trading, Binance has always maintained the lowest level in the industry. In addition, Binance’s platform currency BNB has also performed very strongly recently, so you can consider holding it. The advantage of holding BNB is that on the one hand, you are optimistic about the long-term trend of BNB, and on the other hand, you can save costs by deducting handling fees.
Which one has the lowest margin, OKX, Huobi or Binance?
Binance has no project deposit requirements for listed projects.
Huobi requires the project party to pay 500,000 HT as a deposit. The deposit will be refunded monthly starting from the second month of listing on the HADAX exchange, divided into 12 months. The role of the deposit is that if the project meets the conditions for delisting (such as team dissolution, team request for delisting, insufficient liquidity, sudden fork, illegal violations, etc.), the remaining deposit will be used as user compensation.
OKX requires the project team to pay 200,000 to 300,000 OKB as a risk guarantee after voting to list the currency. The risk guarantee will be gradually refunded in equal monthly installments starting from the second month after the project is listed on OKX. The specific risk insurance requirements are as follows:
- OKB trading area: Risk protection fund 200,000 OKB
- OKB/BTC/ETH trading area: Risk protection fund 250,000 OKB
- OKB/BTC/ETH/USDT trading area: Risk protection fund 300,000 OKB
To sum up, compared to Huobi and OKX, Binance has fewer deposit requirements for online projects and does not need to pay project deposits.
Summarize
In summary, OKX, Binance and Huobi all have their own advantages and are suitable for Crypto investors for digital currency trading and asset allocation. OKX focuses on diversified trading products and decentralized trading platforms, Binance meets the diverse needs of Crypto investors through rich trading products, cross-chain support and investment tools, while Huobi meets the diverse needs of Crypto investors through diversified trading products and the Huobi ecosystem. The chain provides a wider range of asset allocation options. When choosing an exchange, Crypto investors should comprehensively consider their own needs, risk tolerance, and the exchange's liquidity, security, fees and other factors, and make a choice based on the actual situation. Ultimately, choosing an exchange that suits your individual needs will help you better achieve your investment goals.
