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CN OKX and Bybit have many similarities in terms of the trading products they offer. Both exchanges offer top-tier trading venues for traders seeking access to spot, margin, and derivatives markets. However, what really differentiates them is the products available outside of trading. To help you make the best choice, we compared OKX and Bybit in multiple categories such as product range, KYC requirements, transaction fees, and more.
| Excellent user experience and trading products | everything is great |
| +450 cryptocurrencies | +350 cryptocurrencies and 100x leverage |
| Spot, Perps, Margin, Robot | Spot, margin, perpetual income, options |
| 0.1% spot fee and 100x leverage | 0.8% spot transaction fee |
| Excellent design and user experience | Great user experience and easy to use |
目录表
OKX vs Bybit Overview
Bybit and OKX are among the most influential giants in the global cryptocurrency market, each with an extensive user base of over 10 million and generating billions of dollars in daily trading volume. Bybit is recognized as a top crypto derivatives exchange, providing massive liquidity supporting over 350 cryptocurrencies and offering up to 25x leverage. The platform validates the leadership of Singaporean entrepreneur Ben Zhou with its reliability and excellent reputation as an exchange.
In contrast, OKX has established itself as a pioneer exchange with comprehensive trading options that go beyond traditional spot trading. OKX offers trading in over 300 assets and is popular worldwide, with its intuitive interface and support for users from over 180 countries further increasing its popularity. Founded by respected Chinese entrepreneur Xu Mingxing, OKX has become one of the most popular trading platforms in the world and is known for its transparent fee structure and strong security measures.
OKX and Bybit: Products offered
Both OKX and Bybit provide professional-grade trading platforms with industry-leading matching and trading engines to ensure a seamless trading experience for spot, margin and derivatives trading. Both exchanges attract millions of traders around the world, from amateur to professional and even institutional clients.
Both platforms have a feature-rich website that offers a yield section, NFT marketplace, trading bots, and more.
The following are the products and services available on OKX:
- Buy cryptocurrencies with over 90 fiat currencies.
- Exchange cryptocurrencies easily using the conversion feature.
- Access an advanced trading interface for spot, margin and derivatives trading.
- The leverage for futures is 125 times and the leverage for spot currency pairs is 5 times.
- Easily integrate into DeFi and Web3 DApps.
- Trading robot.
- Earn Fraction, Crypto Lending and Launchpad.
- NFT market.
- Safety + Security, with comprehensive licensing and regulatory compliance and robust security measures.
The following are the results brought by Bybit:
- Up to 100x leverage.
- VIP, Broker and Affiliate Programs.
- Fiat on-ramp service
- Ability to purchase cryptocurrencies via card or bank transfer.
- DAO participation.
- Leveraged Tokens.
- Trading robot.
- Launch pad
- Spot + derivatives trading.
- Advanced analytics and education sections.
- Copy trades.
- earn.
- Rewards center and trading competitions.
- Safety + Security, with a 3A security rating and an MVP license held in Dubai, while being regulated by the Cypriot authorities.
- NFT market.
That covers the product and key features, now let’s see how the two stack up.
OKX vs Bybit: Trading Features Comparison
Bybit and OKX are considered among the best derivatives cryptocurrency exchanges in the world. They all have low fees and high liquidity, but there are some subtle differences between them that you should know.
On the spot market, Bybit offers trading on over 410 different cryptocurrencies. The transaction fee for both market makers and takers is 0.1%.
In comparison, OKX offers 339 different spot cryptocurrency transactions, slightly less than Bybit. The spot transaction fee is the same as Bybit, which is 0.1%.
If you are looking for an exchange with more trading opportunities, Bybit may be a better choice.
For futures traders, Bybit offers futures trading on 225 different cryptocurrencies. Its 24-hour trading volume consistently exceeds $1 billion, ranking second among all cryptocurrency exchanges. The fee for futures trading is 0.02% for the maker and 0.055% for the taker. And perpetual futures traders can get up to 125x leverage.
OKX on the other hand offers trading on 223 different cryptocurrency futures with a maximum leverage of 100x. Its 24-hour trading volume exceeds US$800 million, firmly ranking third. Futures trading fees are 0.02% for makers and 0.05% for takers, making OKX’s fees slightly cheaper.
Both exchanges are among the best in the industry in terms of liquidity. A market order of over $300,000 will not even move the price by 0.1%, which means that OKX and Bybit are not only suitable for novice traders, but are also favored by large traders such as funds with deep pockets.
In terms of interface, Bybit is significantly better than OKX. Bybit's interface is very easy to navigate and you can quickly find the features you need. While both exchanges are very fast and reliable, OKX is relatively weaker in terms of user-friendliness and is slightly more difficult to navigate overall.
If you are looking for an easy-to-use cryptocurrency exchange, Bybit is definitely your best choice. Only Bitget’s platform is more user-friendly than Bybit.
OKX vs Bybit: Trading Fees Comparison
OKX and Bybit offer some of the lowest trading fees in the cryptocurrency market. In terms of spot trading, the rate for market makers and takers on the exchange is 0.1%, and you can enjoy ultra-low rates.
For futures trading fees, OKX charges a placing order fee of 0.02% and a taker fee of 0.05%. Bybit charges a Maker fee of 0.02% and a Taker fee of 0.055%, which means Bybit’s fee has slightly increased by 0.005%.
Depending on your 30-day trading volume, you can further reduce fees on both exchanges. OKX’s minimum fees are -0.015% for makers and 0.02% for takers, while Bybit’s minimum fees are 0% for makers and 0.025% for takers.
While OKX’s fees are slightly lower (0.005% difference), we think the two are comparable in terms of fees. If you’re looking for value for money, both OKX and Bybit are excellent choices, as you can enjoy some of the lowest transaction fees between them.
Their trading fees are among the lowest compared to other top exchanges.
Bybit vs. OKX: Security Comparison
Security is always the most important concern when it comes to cryptocurrency trading. After all, you are using your hard-earned money to commit to the exchange. So, how do Bybit and OKX perform in this field?
In terms of security, Bybit has adopted multi-layered measures. First, all accounts are protected by multi-factor authentication and biometric information. This means that even if someone tries to access your account, they will still need your fingerprint or other unique identifier to log in. Additionally, the exchange uses cold wallet storage, which stores your coins offline, making them more difficult to hack. Best of all, the entire platform is SSL encrypted, adding an extra layer of protection.
Bybit also takes an important step: they manually review all withdrawal requests. This way, if there is any suspicious activity, it can be quickly flagged and dealt with. The process may take some time and limit withdrawals, but it's a small price to pay for the extra security provided to users.
OKX also takes security very seriously, as can be seen from their multiple security measures. First, they have mandatory KYC (Know Your Customer) verification to ensure that all users are legitimate. They have also added various account security features such as the Google Authenticator app, mobile verification, anti-phishing codes, and two-factor authentication (2FA), among others.
Despite these security measures taken by both OKX and Bybit, there are still some risks. For example, a large-scale liquidation event occurred on the morning of March 12, 2020, causing some exchanges to suspend trading. The incident resulted in the liquidation of over $700 million, leaving many users angry and frustrated. In response, OKX established a $500 million fund to avoid similar liquidation disasters in the future.
To sum up, both Bybit and OKX have adopted a variety of security measures to protect users’ assets, but you still need to treat the risks with caution and make choices based on your own needs and preferences.
OKX and Bybit on registration and KYC
For registering an account, both OKX and Bybit are very simple and straightforward. All you need to provide is an email address or phone number and a strong password.
However, there are differences in KYC (Know Your Customer) requirements between the two exchanges.
Bybit will enforce KYC starting from August 2023. This means that you must authenticate with your ID or passport and provide a selfie photo to use any of Bybit’s services. Without completing KYC, you will not be able to trade or withdraw money.
Unlike this, OKX allows users to trade without completing KYC. However, deposit and withdrawal limits will be very limited for users who have not completed KYC. In order to increase your deposit and withdrawal limits, you must submit your ID or passport along with a selfie photo, similar to Bybit’s procedure.
Therefore, while both exchanges are relatively simple in terms of registration, Bybit has higher requirements for completing KYC, while OKX is more flexible in terms of KYC but limits deposit and withdrawal limits for non-KYC users.
Deposit method
Bybit offers a variety of deposit methods to meet user needs. These deposit methods include bank transfers, ACH and SEPA transfers, PayPal, Alipay, Sofort, debit and credit cards, e-wallets, and many third-party payment services. Bybit’s platform allows users from over 150 countries to deposit using over 30 different fiat currencies.
In comparison, OKX has relatively few deposit methods. OKX accepts deposits via bank transfer, debit card, credit card, and cryptocurrencies such as USDT, USDC, and a handful of other stablecoins. Compared to Bybit, OKX offers more limited options in terms of account funding flexibility.
Summarize
Overall, the competition between OKX and Bybit is very fierce. However, we think Bybit is the slight winner. Bybit offers slightly more features and has the best cryptocurrency trading platform.
With a wider variety of cryptocurrencies available, full support for fiat currencies, and an incredibly user-friendly interface, Bybit is one of the best trading options out there. Additionally, Bybit has the best copy trading feature for passive income.
Furthermore, Bybit has a better reputation in comparison, and you will find that many people choose Bybit over OKX.
If you look purely at cost-effectiveness, OKX’s transaction fee is slightly lower than Bybit’s 0.005%. But keep in mind that you cannot withdraw profits from OKX directly to a bank account because OKX does not have a fiat currency gateway. You must first send the cryptocurrency to a third party, and then withdraw the profits from there to a bank account. Additionally, there are some shortcomings in OKX’s support and customer support on fiat currencies.
To sum up, although the gap between OKX and Bybit is small, we think Bybit is the better choice because it offers more features, a better reputation, and a better user experience.
Cryptocurrency Exchange FAQs
Is OKX a good exchange?
OKX is a very good exchange. It is one of the oldest exchanges in the industry and consistently ranks among the top five for derivatives trading and the top ten for spot trading. OKX is known for its strong security measures and regulatory status, allowing users to trade with peace of mind.
OKX offers a rich selection of products and features suitable for cryptocurrency users of all skill levels and experience. It is also one of the most powerful trading platforms for professional traders.
In addition, OKX is one of the leading exchanges to integrate and explore DeFi, NFT, Metaverse and Web3 features, making it a versatile platform and truly an all-in-one crypto platform.
Are Bybit fees high?
Bybit’s transaction fees are not high. In fact, its trading fees are very competitive, with traders enjoying average trading fees of less than 0.5%. Bybit’s fees are only slightly higher than the lowest fee exchanges such as Binance, KuCoin, and OKX.
Is Bybit a good cryptocurrency exchange?
For cryptocurrency exchanges, Bybit is also a great choice. It is one of the fastest growing non-custodial exchanges. With a top-notch trading platform, an impressive selection of tradable assets, a leading copy trading platform, and high-leverage trading, Bybit is a trading oasis that attracts both amateur and experienced traders.
