Are you torn between OKX vs Huobi? We've got you covered! In this comparison, we'll analyze key factors like KYC requirements, supported countries, trading fees, deposit methods, and more. Keep reading and decide which exchange suits you best!
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.
Cryptocurrency exchanges OKX and Huobi are two of the leading exchanges in the crypto space. OKX was founded in 2017 by Star Xu and is registered in Seychelles but headquartered in Hong Kong.
OKX offers a comprehensive range of trading services such as spot, margin, perps, futures and options, with many additional services such as trading bots, demo & copy trading and earn products.
It has grown into a multifaceted exchange that attracts over 20 million users worldwide. The OKX app has been downloaded over 1 million times and offers access to 350 cryptocurrencies.
OKX Mobile App
Huobi was founded in 2013 by Leon Li and is registered in Seychelles. It has over 1000 employees and is available in 184 countries.
Huobi Exchange
However, it is prohibited in 11 jurisdictions such as China, US, Canada, Japan, and Singapore. Some countries like Israel, UK, Spain, and New Zealand, have restrictions on using derivatives.
Huobi is an exchange that offers a wide range of trading services which includes spot and margin trading, futures products settled in USDT and crypto, and a range of trading bots and copy trading.
It has attracted over 10 million users globally, with over 20 million app downloads and supports over 500 cryptocurrencies.
Huobi Mobile App
Both OKX and Huobi offer a wide range of cryptocurrency trading services and have gained popularity for their user-friendly interface, competitive fees, and security.
OKX vs Huobi Signup & KYC
When it comes to signing up for cryptocurrency exchanges, one of the biggest hurdles can be the mandatory Know Your Customer (KYC) verification process.
OKX and Huobi are two popular exchanges that differ in their approach to KYC.
OKX requires KYC verification for users who want to trade on the platform, with two levels of verification available.
Basic verification provides access to deposits and trading, while Advanced (level 2) verification increases withdrawal and trading limits.
Signing up for OKX is a breeze, with users only needing to provide their email or phone number to create an account.
The verification process typically takes around 10 minutes for Basic verification, while Advanced verification can take up to 3 days.
OKX KYC Verification
On the other hand, Huobi has a more relaxed approach to KYC. Users can sign up and trade without KYC verification but are limited to a $1000 deposit limit and 0.06 BTC daily withdrawal limit.
Huobi KYC
However, for users that want to increase their limits, Huobi does offer KYC verification. The signup process is quick and simple, with users only needing to enter their email or phone number and verification code.
KYC verification takes a few minutes to complete, with processing taking up to 24 hours.
Both OKX and Huobi offer an easy signup process, but differ in their approach to KYC verification. Depending on your trading needs and limits, this could be a deciding factor in which exchange to use.
OKX vs Huobi Products & Services
In just a few years, OKX has rapidly grown to become one of the most versatile and highly regarded exchanges in the cryptocurrency space.
Its offerings begin with spot trading, a feature common to most crypto exchanges where users have the opportunity to buy and sell a broad range of over 300 cryptocurrencies.
OKX Spot Trading
This includes well-known ones like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cosmos (ATOM), and Tether (USDT).
While OKX's selection of altcoins might not be as vast as what's available on exchanges like Kucoin and MEXC, it does cover most large-cap coins that most users know and love.
OKX Crypto Markets
For those looking to engage in margin trading, OKX provides the functionality to long (betting on a price increase) or short (betting on a price decrease) over 100 digital assets with up to 10X leverage.
OKX Margin Trading
Beyond margin trading, OKX supports a solid range of USD and crypto-margined futures and perpetual contracts, complete with the options of using either isolated or cross margin support.
OKX Perpetual Trading
OKX caters to traders who are inclined towards higher risks by offering up to 100X leverage on perpetual contracts.
Additionally, OKX includes options trading for BTC and ETH, providing European call or put options, which adds another layer of versatility to its trading options. For beginners or those who prefer a more guided trading experience, OKX also offers copy trading.
OKX Copy Trading
This feature allows less experienced users to mimic the trades of professional traders, offering a learning opportunity and a chance to potentially benefit from expert trading strategies.
More experienced traders have access to over 10 different trading bots on OKX, including various strategies like spot grid, futures grid, futures and spot Dollar-Cost Averaging (DCA), infinity grid, and recurring buys.
OKX Trading Bots
Recognizing the needs of absolute beginners, OKX also provides a demo trading feature. This enables new users to experiment with trading using virtual money and with no risk.
In terms of trading volumes, OKX stands out as one of the most popular exchanges globally. It boasts over $3 billion in 24-hour spot trading volume and over $28 billion in derivatives trading volume, placing it among the top five exchanges worldwide in terms of volume.
OKX Trading Volumes
Beyond trading, OKX has developed a range of opportunities for users to earn interest on their digital assets.
OKX Earn
This includes products such as simple earn, staking rewards, dual investments, among others, available in both flexible and fixed terms with varying APRs depending on the asset.
For early-stage investments, OKX offers its launchpad called Jumpstart, allowing users to invest in newly launched tokens like SUI, RAY, WOO, and others at an early stage.
OKX Launchpad
And for users who prioritize privacy, OKX has developed its own Web 3 wallet, providing non-custodial access to over 70 blockchains.
Institutional clients or high-net-worth individuals can use OKX’s Over-The-Counter (OTC) marketplace for large-scale, private trades that do not impact the open market.
OKX OTC
This VIP service 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. This makes navigating the diverse offerings of the platform straightforward and enjoyable for a wide range of users.
Similar to OKX, Huobi also offers a very large set of trading services and financial products. These include spot trading, futures trading which is settled in USDT and crypto, margin trading and European and American style options.
Besides this, copy trading is also available for beginners who would rather rely on the track record of more experienced traders.
The average spot trading volumes on Huobi tend to range between $250 and $500 million per day which is in the top 20 category compared to other exchanges.
Huobi Copy Trading
The max leverage on Huobi for futures is 200X while the max leverage for margin is 100X. In terms of financial products, Huobi offers it's users access staking services for a wide range of cryptocurrencies and the ability to lend and borrow digital assets.
Huobi Earn
For retail users who want access to NFTs and a non-custodial wallet to store their digital assets, this is also available on Huobi with their NFT marketplace and Web 3 wallet (iToken Wallet).
Huobi NFTs
The interface on Huobi has gotten a facelift and is now more pleasant to use and the exchange offers a wide range of services targeting both beginners and more sophisticated traders.
Let's take a closer look at what each platform offers in terms of fees. OKX charges a spot maker fee of 0.08% and a spot taker fee of 0.10%. For futures trading, the maker fee is 0.02% and the taker fee is 0.05%.
OKX spot fees
On top of that, OKX also offers trading discounts for users who hold a minimum of 500 OKB tokens or whose monthly trading volume exceeds $10,000,000. This is a great feature for high-volume traders who want to keep their trading costs low.
On the other hand, Huobi charges a spot maker fee of 0.20% and a spot taker fee of 0.20%. For futures trading, the maker fee is 0.02% and the taker fee is 0.05%.
Huobi Spot Fees
Similar to many other exchanges, Huobi also offers fee discounts for users to trade with volumes above $10,000 or who use their native HT token for trading.
Overall, both OKX and Huobi have competitive trading fees that may appeal to different types of traders. While OKX offers lower fees for spot trading, Huobi offers the same futures fees as OKX.
Moving on, let's take a look at the deposit methods offered by both exchanges.
Starting with OKX, the exchange does not support deposits with any fiat currencies. Instead, users can buy cryptocurrency on OKX via a credit/debit card or third-party payment provider.
However, it's important to note that a 1-2% fee is charged when buying crypto with a card or through third-party service providers.
On the other hand, Huobi offers support for eight fiat currencies, including USD, EUR, GBP, TRY, RUB and a few others.
However, fiat deposit is only possible for EUR via SEPA (0.15% + 1EUR fee) or Skrill (2.9% + 0.1 EUR fee), GBP via FSP (0.15% + 1 GBP), TRY via Advcash (free), and BRL via bank transfer (free).
This means that users have more options to deposit fiat on Huobi compared to OKX. In conclusion, while OKX does not support fiat deposits, users can still purchase cryptocurrency with a card or third-party payment provider.
On the other hand, Huobi offers more options for fiat deposits, making it a better choice for users who prefer to deposit fiat into their account.
When it comes to withdrawing fiat currencies, OKX unfortunately does not offer this option. However, they do have reasonable withdrawal fees for BTC, ETH, SOL, and USDT.
Huobi offers multiple fiat withdrawal methods including SEPA, FSP, Advcash, Skrill, and Bank transfer. While there are fees associated with these methods, they vary based on the specific method chosen.
For example, SEPA withdrawals have a 0.15% fee plus a 1EUR fee, while Skrill withdrawals have a 2.9% fee plus a 0.1EUR fee. Interestingly, TRY withdrawals via Advcash are free of charge, as are BRL withdrawals via bank transfer.
Huobi, on the other hand, has slightly higher fees for BTC and ETH withdrawals, but they do offer a variety of cryptocurrencies for withdrawal including ADA, XRP, and LTC.
Overall, while OKX may not offer fiat withdrawals, they do have competitive cryptocurrency withdrawal fees.
Huobi, on the other hand, offers multiple fiat withdrawal methods, albeit with varying fees, but higher crypto withdrawal fees than OKX.
In summary, Okex and Huobi are two leading cryptocurrency exchanges that offer a variety of trading services, user-friendly interfaces, and strong security measures.
Both exchanges have over 1000 employees and are available in multiple countries around the world, although there are restrictions in some jurisdictions.
OKX offers services such as spot, margin, perps, futures and options, along with additional features such as trading bots and demo & copy trading. It has attracted over 20 million users worldwide and supports over 350 cryptocurrencies.
On the other hand, Huobi offers a wider range of 500 cryptocurrencies to it's 10 million users for purchase and sale and offers services such as spot and margin trading, futures products settled in USDT and crypto, and a range of trading bots and copy trading.
These exchanges have differing approaches to KYC verification, with OKX requiring verification for users to trade and offering two levels of verification, and Huobi offering a more relaxed approach but with limits on deposits and withdrawals.
When it comes to trading fees, both exchanges have competitive fees, with OKX offering lower fees for spot trading and Huobi offering the same fee structure for futures trading as OKX.
Both exchanges also offer fee discounts for high-volume traders and users who hold their native tokens.
In terms of deposit options, OKX does not support deposits with fiat currencies, while Huobi offers support for eight fiat currencies and more deposit options.
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.
