I've Used Both Binance and OKX - Here's My Honest Take

Used Both For A Year, Here's What I Think

I see people arguing about Binance vs OKX all the time. According to CoinMarketCap exchange rankings, both are among the top exchanges globally. Having actually used both extensively, I'll give you my honest take.

Quick Summary

Both are legit, both work fine. If you're stressing about which one to pick, just pick one and get started. The differences aren't that huge for most people.

That said, I ended up using Binance more. Here's why.

Liquidity Matters More Than You Think

Binance has way more trading volume. Why does this matter? When I'm buying or selling, especially with bigger amounts, I get better prices with less slippage.

On OKX, I've noticed bigger spreads on some altcoins. Not a dealbreaker, but it adds up.

The Fee Situation

Base fees are basically the same (0.1% spot). But Binance has more ways to reduce them. I use the BNREF01 referral code which gives 20% back, plus BNB discounts. OKX has similar stuff with OKB but I found it more complicated.

Net result: I pay less on Binance.

What OKX Does Better

Credit where it's due:

• Their Web3 wallet is pretty slick. It's built right into the app.
• Copy trading is easier to use than Binance's version
• The derivatives interface is cleaner in my opinion
• They have a demo trading mode which is nice for learning

What Binance Does Better

• More coins, more trading pairs
• Better mobile app (personal preference maybe)
• Launchpool lets you farm new tokens for free
• The ecosystem is just bigger - BSC, BNB, etc.
• More payment methods for P2P

Security?

Both seem fine honestly. I haven't had issues with either. Both have 2FA, withdrawal whitelists, insurance funds. Binance has their SAFU fund thing which is supposedly $1B+.

I'm not qualified to audit their security systems. They haven't been hacked recently, that's good enough for me.

My Setup Now

I keep most of my trading on Binance, but I have an OKX account too. Sometimes one has a better rate on a specific trade, or one gets a new listing before the other.

Having accounts on both doesn't hurt.

Bottom Line

For most people: just pick Binance, use BNREF01 for the fee discount, and don't overthink it.

If you're specifically into derivatives trading or want that Web3 wallet integration, maybe check out OKX too.