Bibox and OKX are giving tough competition to each other. Both exchanges have similar features and other product offerings.
Hence, for newbie traders, it can be confusing to pick between Bibox vs OKX, as there are hardly any differences between these two exchanges.
While there are many things in common, you will still find differences that will impact your trading journey.
Hence to help you pick the right exchange, I have compared both Bibox and OKX below at various factors. So you can easily make the right choice.
Bibox vs OKX: At A Glance Comparison
Bibox is one of the most popular cryptocurrency exchanges available out there.
The exchange has been in operation since 2017. Plus, it claims to be one of the first AI-powered crypto exchanges and is known for offering its users a secure and robust system for trading.
With Bibox, you can trade in all sorts of crypto markets, such as spot, margin, and derivatives.
Along with that, it also offers you some advanced trading features such as bot trading and copy trading.
OKX, formally known as Okex, is one of the top crypto derivatives exchanges available out there. The exchange was established in 2017, and it is based in Malta.
With OKX, you can trade a wide range of crypto assets.
Plus, you can explore and trade in different markets like spot, margin, crypto futures and options. Overall, OKX is known for faster transaction speed, cheap trading fees, and APIs.
Bibox vs OKX: Trading Markets, Products & Leverage Offered
Starting with the trading markets comparison, well, both leverage trading platforms stand at an equal position. You get similar trading markets, leverage, and more. These products offerings are:
- Spot Trading
- Margin Trading with leverage ranging from 5x to 10x
- USDT-M Perpetual with leverage ranging from 1x to 100x
- Coin-M Perpetual with leverage ranging from 1x to 100x
- Coin-M Delivery with leverage ranging from 1x to 100x
- Spot Trading
- Margin Trading with leverage up to 10x
- Perpetual Swaps with leverage up to 125x
- Futures contracts with leverage up to 125x
- Crypto Options Trading
- Bot Trading
- Demo Trading
- P2P Trading
Verdict: OKX emerges as the clear winner and a better choice. As it supports more trading markets and higher leverage compared to Bibox.
Bibox vs OKX: Supported Cryptocurrencies
With Bibox, you are getting access to 400+ digital assets and more than 270 crypto trading pairs. It has a combination of both leading and new crypto tokens. Some of the listed tokens are:
OKX also stands in an equal position with Bibox. On the exchange, you can find more than 400 crypto trading pairs across the spot and futures markets.
Plus, you would find a mix of both new and leading crypto tokens. Some of the listed tokens are:
Verdict: When it comes to supported crypto tokens, there aren’t many differences. Hence, I am declaring it a tie between Bibox and OKX.
Bibox vs OKX: Trading Fee & Deposit/Withdrawal Fee Compared
Trading fees have to be one of the crucial factors for choosing a crypto exchange.
You must make sure to go with a crypto exchange that offers you the lowest trading fee. And here is how both exchange’s trading fees compare:
Bibox Spot Trading Fee (Normal User)
Just like most crypto exchanges, Bibox also follows the usual maker-and-taker trading fee model. Along with that, it follows a tiered fee structure which is based on your 30 days trading volume.
Along with that, you can also avail up to a 12.5% discount on maker/taker fees by using BIX to pay for your trading fees. And here is what the fee structure looks like:
|With 12.5% Discount
Bibox Spot Trading Fee (Pro User)
Apart from the normal user Spot trading fee structure, there is another fee structure for pro users.
To be eligible for pro-user trading fees, you must surpass a 30 days trading volume of 10,000,000 USDT or have an asset volume worth more than 100,000 USDT. If you do meet any of these two requirements, your trading fee would be:
|With 12.5% Discount
Bibox Futures Trading Fee
Bibox futures have the same fee for both USDT-M perpetual and Coin-M Perpetual contracts. However, you don’t get any additional BIX discount for future trades. Instead, the regular fee stands at:
- Maker Fee: 0.040%
- Taker Fee: 0.060%
Bitbox Deposit & Withdrawal Fees
Coming to crypto deposits, there are no fees on Bibox. Instead, if you are buying crypto on the exchange, then it will be subjected to a transaction fee. The fee solely depends on what payment method you are using.
However, you are required to pay charges for both crypto withdrawals and fiat withdrawals. The fee depends on what currency you are withdrawing and your selected withdrawal method.
However, Bibox doesn’t support P2P trading. So there is no way to deposit or withdraw funds at zero cost.
OKX Spot Trading Fees
OKX also has two separate fee structures for both regular and VIP users.
On one side, regular users are categorized by their OKB holdings. On the other side, VIP users are categorized by their 30 days trading volume.
So depending on your account stats, you would automatically fall into one of these two tiers and get charged. And here is what the fee looks like:
OKX Futures & PERP Fees
OKX Options Trading Fees
OKX Deposit & Withdrawal Fee
On OKX, the fiat deposits and withdrawal fees are subjective. It completely depends on what deposit/withdrawal method you have selected. For some options, there are zero fees.
On the other side, crypto deposits are absolutely free on the exchange.
But for crypto withdrawals, you have to pay a withdrawal fee. The withdrawal fee varies from one token to another and other conditions.
Fortunately, on OKX, you have P2P trading availability. So you can enjoy deposit and withdrawal of funds at no cost.
Verdict: OKX is a better choice in terms of trading fees, as the exchange has cheaper trading fees for both spot and derivatives trading compared to Bibox.
Bibox vs OKX: Order Types
- Market Only
- Trailing Stop
- Advanced Limit
Verdict: Bibox is the winner when it comes to supported order types. The exchange offers you a few extra order types than OKX.
Bibox vs OKX: KYC Requirements & KYC Limits
Bibox doesn’t require you to complete your identity verification to start using the exchange.
Without KYC, you are allowed to deposit/withdraw and trade on the exchange. However, your daily withdrawal limit would be limited to 0.5 BTC.
However, you can increase your daily withdrawal limit up to 2BTC by verifying your identity on the exchange.
OKX also doesn’t require you to verify your account. You would get uninterrupted access to all the features on the platform.
But if you wish to buy crypto using a credit/debit card or use P2P trading, you would need to complete your KYC. Also, OKX has different KYC levels with different withdrawal limits.
OKX has two different KYC levels, these are:
- Basic verification (Level 1): It offers you a total deposit and withdrawal limit of 1,00,000 USD lifetime.
- Advanced verification (Level 2): It offers you unlimited deposits and comes with a daily withdrawal limit of 1,00,00,000 USD.
Verdict: It is a tie between both exchanges. As you can use both exchanges without completing your KYC.
Bibox vs OKX: Deposits & Withdrawal Options
- Method 1: Deposit funds using wire transfer, Apple Pay, Google Pay, bank transfer, debit/credit cards, and more.
- Method 2: Transfer crypto tokens from other wallets/exchanges.
- Method 1: Buy crypto using debit/credit cards, Banxa, Simplex, Bank transfer etc.
- Method 2: Transfer crypto tokens from other wallets/exchanges.
- Method 3: Deposit/Withdraw funds using P2P Trading.
Verdict: It is a close match between Bibox and OKX. But OKX turns out to be the winner as it supports P2P trading, which can be used for free deposits/withdrawals.
Bibox vs OKX: Trading & Platform Experience Comparison
When it comes to overall trading experience, both exchanges offer you a similar experience. You will get features like:
- Order Book
- 24h value, 24h change, last price, the funding fee
- Easy-to-use order book
- Trading pairs menu
- Trade and order history
- Multiple technical charts, including TradingView
- Order book and last trades
- Easy-to-use order form
- Powerful mobile app
- Open orders, order history, positions, positions, position history etc
To get a detailed overview of the exchange, check this guide on how to trade crypto futures on OKX.
Verdict: It is once again a tie between Bibox and OKX. As both exchanges are pretty identical when it comes to trading.
Bibox vs OKX: Customer Support
Bibox offers you customer support in multiple ways.
The easiest option is to use their live chat option, and it will connect you with a support agent instantly. Alternatively, you can also send them an email or contact Bibox’s telegram channel.
The same goes for OKX, you can get help using its live chat option, and it will connect you with a support agent instantly.
Along with that, it also offers you support through email. Plus, you can reach out to OKX at their Twitter handle for quick support.
Verdict: Overall, OKX wins the race by a slight margin. As the exchange offers multiple ways to get support.
Bibox vs OKX Security Features
- Microservices splitting design and AI to provide smart token and trading management.
- SMS Authentication
- Google Authentication
- Fund password
- Anti-phishing Code
- Two Factor Authentication
- Anti-phishing code
- Trading clearance settings
- Device management
- Freeze account
Verdict: As there are hardly any differences in the security features of both OKX and Bibox, it is a tie.
Is Bibox Safe & Legal To Use?
Bibox is a rock-solid cryptocurrency exchange.
The exchange is extremely secure and used by millions of users worldwide.
Bibox has implemented several security features and uses cold storage to ensure that your account and funds are protected.
Plus, it also offers you multiple security features to help you protect your account.
Is OKX Safe & Legal To Use?
OKX is one of the trusted crypto exchanges that operate at a global level. It holds licenses under multiple jurisdictions and is known for offering its users a safe trading experience.
The exchange has implemented several security features. Plus, it uses cold storage to protect users’ funds. Plus, there is no history of security breaches or hack attacks.
Bibox vs OKX Conclusion: Why not use both?
It was a close match between Bibox and OKX. Since both the exchanges stand at an equal position in many factors.
But it is ultimately OKX that emerges as the clear winner.
The exchange offers you more trading markets, higher leverage, and cheaper trading fees. Plus, it is also a non-KYC exchange.
But Bibox is not a bad option either. It is also a no-KYC exchange, offers you good discounts on spot trading, and has a wide range of digital assets that you can trade.
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