OKX vs Bitget | Who Offers Best Trading & Lower Fees?
Jack Moreau
Feb 2024
9 min read
Fact checked
Are you unsure which exchange to use between OKX vs Bitget? Lucky for you, we've conducted a thorough analysis of both exchanges taking into account factors such as KYC requirements, product offerings, fees and deposit methods. Keep reading to find out which exchange best aligns with your needs!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Bitget is a fast-growing cryptocurrency exchange that focuses on copy trading and derivatives trading. The platform offers over 140 contract trading pairs that are margined in USDT, with leverage of up to 100x.
Bitget is recognized as one of the largest crypto derivatives exchanges in the world by CoinMarketCap and CoinGecko.
Bitget has over 8 million users and has been downloaded over 1 million times, with 450 cryptocurrencies supported for trading.
Bitget app
OKX vs Bitget Signup & KYC
When it comes to signup and KYC, OKX and Bitget differ in their KYC requirements and signup processes.
OKX requires some form of KYC verification for all users who want to trade on their platform. They offer two levels of verification: Basic and Advanced.
Basic verification only requires personal information like full name and country of residence, while Advanced verification requires additional documents such as a government ID.
OKX KYC
Signing up for OKX is simple and only requires an email or phone number. Once you've verified email or phone, you can start trading immediately with Basic verification.
The verification process can take as little as 10 minutes, but advanced verification can take up to 1-2 days in some cases. Note that users from the United States, Canada and the UK are not permitted to signup to OKX.
Bitget, on the other hand, does not require all of it's users to pass through a KYC process to begin trading.
Users can thus deposit crypto and participate in crypto-to-crypto trading without completing KYC. Signing up for Bitget is equally simple and only requires an email and password.
Bitget signup
Verification typically takes 2-3 working days and involves submitting personal information and a government ID.
While both exchanges have their pros and cons, Bitget may be the better option for those that wish to trade without completing any KYC verification.
However, if you're looking for a more advanced trading platform, OKX is worth the tiny bit of extra effort.
OKX vs Bitget Products & Services
OKX has within a few years short years emerged as one of the most versatile exchanges in the cryptocurrency market
It offers a range of services starting with spot trading, where users can invest in over 300 cryptocurrencies including popular ones like Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Cosmos (ATOM).
OKX Spot Trading
While OKX may not have as extensive a range of altcoins as some other exchanges like Kucoin and MEXC, it covers most of the large-cap coins which satisfies the needs of most.
OKX Crypto Markets
For those interested in margin trading, OKX provides the facility to long or short over 100 digital assets with up to 10X leverage.
OKX Margin Trading
This feature allows traders to amplify their trading positions, offering the potential for higher returns while also increasing risk.
In addition to this, the exchange supports hundreds of USD and crypto-margined futures and perpetual contracts with up to 100X in leverage.
OKX Perpetual Trading
Traders can choose between isolated or cross margin support according to their trading strategy and risk management preferences.
For those interested in options trading, OKX offers European call or put options for BTC and ETH, providing another avenue for trading and hedging strategies.
OKX Options Trading
OKX has made copy trading available for beginners so that they can easily replicate the trades of professionals with a proven track record.
OKX Copy Trading
For more experienced traders, OKX offers over 10 different trading bots including options like spot grid, futures grid, and Dollar-Cost Averaging (DCA) for both futures and spot markets.
OKX Trading Bots
Understanding the needs of absolute beginners, OKX also supports demo trading where newbies can experiment with trading using virtual money, eliminating any financial risk.
OKX's trading volumes speak volumes about its popularity and effectiveness with over $3 billion in 24-hour spot trading and over $28 billion in derivatives trading.
OKX Trading Volumes
Beyond trading, OKX has developed a range of yield opportunities for users to earn interest on their digital assets.
OKX Earn
This includes various products like simple earn, staking rewards, and dual investments, available in flexible or fixed terms with differing Annual Percentage Rates (APRs) depending on the asset.
For those looking to invest early in new tokens, OKX offers its launchpad called Jumpstart. This feature provides access to early-stage investments in newly launched tokens like SUI and WOO.
OKX Jumpstart
Considering the privacy-minded individuals, OKX has developed its own Web3 wallet which allows for non-custodial access to over 70 blockchains.
OKX Web 3 Wallet
This feature is ideal for users who prefer maintaining control over their private keys and wish for a more decentralized experience.
Institutional clients or high-net-worth individuals looking to trade large sums discreetly can use OKX’s Over-The-Counter (OTC) marketplace.
OKX OTC
This VIP service allows for significant trades without impacting the broader market and is available to traders with a minimum of $10,000 in their trading accounts.
The user experience on OKX is designed to be accessible and user-friendly, featuring a modern interface that caters to both beginners and professional traders.
Moving on to Bitget, which offers a smaller range of product and services compared to OKX.
Bitget does however providing a solid range of trading services including spot trading, futures trading, perps, margin trading, and options.
Bitget futures trading
The exchange also provides trading bots and copy trading, which allows users to follow and replicate the trades of successful traders. Bitget offers a good user experience with a modern and easy-to-use interface.
Bitget copy trading
Bitget also offers financial products such as lending and borrowing, staking for multiple cryptocurrencices and an NFT marketplace and Web 3 wallet for those that want to access non-custodial DeFi.
Bitget earn products
Liquidity on Bitget is in the top 20 category with daily spot trading volumes in the range of $300 to $500 million for it's over 450 cryptocurrencies. The max futures leverage available on Bitget is 100X with a max margin leverage of up to 20X.
Let's take a closer look at the trading fees offered by OKX and Bitget. First up, OKX charges a spot maker fee of 0.08% and a spot taker fee of 0.10%. These are very competitive spot trading fees that most exchanges in the market can't compete with.
OKX spot fees
For futures trading, the maker fee is 0.02% and the taker fee is 0.05%. OKX also offers trading discounts for users who hold at least 500 OKB tokens or whose monthly trading volume exceeds $10,000,000. That's a pretty sweet deal if you're a high-volume trader.
Bitget's trading fees are slightly higher than OKX's but they do also offer discounts for spot, perps, and futures trading if monthly trade volumes exceed the minimum threshold of if users hold sufficient number of BGB tokens.
Bitget spot fees
So there you have it, a breakdown of the trading fees offered by OKX and Bitget. Both exchanges offer competitive fees and discounts for high-volume traders with OKX having a slight edge.
When it comes to depositing fiat currencies, OKX and Bitget have taken a similar approach where currently, no fiat deposits are available.
On OKX, crypto can be bought with a credit/debit card or through third-party payment providers. The fees for buying crypto on OKX with a card or through a third-party provider are between 1-2%.
OKX does not charge any deposit fees for these methods, but the fees charged by the providers can add up.
OKX buy crypto with card
Similar to OKX, fiat deposits are not available on Bitget. Instead, users either have to deposit cryptocurrencies onto the exchange or buy crypto via third-party providers such as Simplex and Mercuryo.
Users can buy with a wide range of fiat currencies and the trading commissions will range between 2-8% depending on the fiat currency being used, and cryptocurrency being bought.
When it comes to withdrawing fiat currencies from cryptocurrency exchanges, it's important to look at the options and associated fees.
Unfortunately, it's not possible to withdraw any fiat currencies from OKX. However, users can withdraw cryptocurrencies such as BTC, ETH, SOL, and USDT.
The withdrawal fees for these cryptocurrencies are quite reasonable with a fee of 0.0002 BTC, 0.0014 ETH, 0.008 SOL, and 3.8 USDT.
Similar to OKX, no fiat withdrawals are support by Bitget. In terms of cryptocurrency withdrawals, Bitget supports withdrawals for all of it's 450 cryptocurrencies that it supports.
The withdrawal fees for cryptocurrencies are also quite low with a fee of 0.0005 BTC for Bitcoin withdrawals,, 0.0006 ETH for Ethereum and 0.007 SOL for Solana withdrawals.
OKX and Bitget are two lesser known but up and coming exchanges that offer a solid range of cryptocurrencies and crypto products.
OKX has the more extensive product range and targets both beginner and more advanced traders while Bitget has a bit more narrow focus on futures trading.
While both exchanges offer a range of features and services, they differ slightly in their KYC requirements for trading.
OKX requires all of it's users to at least provide full name and country of residence before trading can begin while this is not required on Bitget.
OKX offers a comprehensive set of options, including spot, futures, perps, margin, and options.
Additionally, OKX provides access to more retail focused products such as NFTs and Web 3 wallet which Bitget does not offer support for.
When it comes to trading fees, OKX charges a spot maker fee of 0.08% and a taker fee of 0.10%, while Bitget charges a spot maker and taker fee of 0.1%.
Both exchanges offer discounts for high-volume traders but even without it, these are very competitive trading fees already.
One weakness that both OKX and Bitget currently share is the fact that no fiat deposits or withdrawals are possible on these exchanges.
This means that users have to deposit cryptocurrencies or buy via more expensive third-party providers.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
