BitMEX vs Okcoin : Which one is better for your business?

The category of products tailored for institutional and professional traders is essential for our business as it attracts high-volume, sophisticated clients who bring significant liquidity and trading volume. By comparing BitMEX and Okcoin, we aim to determine which platform offers the best combination of security, transparency, and advanced trading features to meet the needs of these clients.

A quick overview on BitMEX and Okcoin

What is BitMEX?

BitMEX provides a trading platform tailored for institutional and professional traders, offering services such as low latency trading, high liquidity, and robust security measures. Unique features include a zero crypto loss record since 2014, multi-party computation (MPC) for asset security, and a bi-weekly Proof of Reserve and Liability (PORL) process for transparency.

What is Okcoin?

Okcoin is an institutional trading platform for Bitcoin and other cryptocurrencies, offering services like spot trading, OTC trading, and leverage trading. Unique features include industry-leading low fees, instantaneous funding through global banking partners, and advanced trading tools with API connectivity. The platform also provides tailored solutions for various institutional clients and supports global client services 24/7.

Features of BitMEX and Okcoin

BitMEX features

BitMEX offers a range of unique features that cater to the needs of institutional and professional traders:

• Security & Custody: Since 2014, BitMEX has not lost any crypto through intrusion or hacking. Assets are secured via multi-party computation (MPC) and strict transaction rules.
• Proof of Reserves and Liabilities: BitMEX was the first to publish a proof of reserves in 2021, and it runs this process twice a week, ensuring high transparency and trust.
• Insurance Fund: An insurance fund is used to manage unfilled liquidation orders, providing an additional layer of security for traders.
• Low Latency: Guaranteed under 4ms latency, ensuring a fast and efficient trading experience.
• 24/7 Bespoke Support: Dedicated Relationship Managers offer seamless connectivity and support around the clock.

Okcoin features

Okcoin offers a range of unique features that cater to the needs of institutional and professional traders:

• Low Trading Fees: Okcoin provides a competitive fee structure, making it cost-effective for high-volume trading.
• Instantaneous Funding: Through partnerships with global banking partners like Signature Bank, Silvergate Bank, and Prime Trust, Okcoin ensures quick and reliable access to funds.
• Advanced Trading Tools: The platform offers sophisticated tools and API connectivity for better market access and efficient trading.
• 24/7 Global Client Services: Okcoin provides continuous support to its clients, ensuring that assistance is available at any time, regardless of location.
• Flexible Settlement Options: Customized solutions are available to meet the diverse needs of different institutional clients, enhancing the overall trading experience.

Comparing BitMEX, Okcoin and OneSafe's features

Why choose one over the other?

• Why Choose BitMEX Over Okcoin: BitMEX offers unparalleled security with a zero crypto loss record since 2014, thanks to multi-party computation (MPC) and strict transaction rules. Additionally, its Proof of Reserves and Liabilities process, conducted bi-weekly, ensures a high level of transparency that Okcoin does not match.
• Why Choose Okcoin Over BitMEX: Okcoin provides industry-leading low fees, making it a cost-effective option for high-volume traders. Furthermore, its instantaneous funding through global banking partners like Signature Bank and Silvergate Bank offers quicker access to funds compared to BitMEX.

Considering OneSafe vs BitMEX and Okcoin

• Why Choose OneSafe Over BitMEX and Okcoin: OneSafe offers a seamless onboarding process and instant crypto to fiat conversions, making it easier for businesses to manage their finances globally. Unlike BitMEX and Okcoin, OneSafe provides multi-currency support and corporate cards with spend limits, ensuring a more comprehensive financial solution for international operations.

What are the customers saying?

BitMEX reviews

Users have mixed opinions about BitMEX. While some appreciate the high leverage options and variety of trading products, others are frustrated with technical issues like platform freezes and failed order executions. The platform is noted for its low fees and fast execution but criticized for its complex interface and lack of a mobile application. Overall, BitMEX has received a rating of 3.1 out of 5 stars.

• "The thing that I love the best is how easy they have made it to use." - Gage M.
• "BitMEX offers serious trading products that we can't get on any other crypto platform - up to 100x leverage, for example." - John W.

For more details, visit the BitMEX Reviews 2024 page on G2.

Okcoin reviews

Users have mixed opinions about Okcoin. Some appreciate its notification system, selection of alt-coins, and educational resources. However, many users express frustrations with the app's instability, limited cryptocurrency options, and poor customer support. The overall rating for Okcoin is 2.6 out of 5 stars.

• "They have a great notification system to keep up to date with price trends & movements. Also offer a decent selection of alt-coins, and allows you to convert, send, and receive crypto." - Verified User in Investment Management
• "OkCoin's reputation and resilience. It provides prices that closely mirror on-chain data." - Verified User in Financial Services

For more details, visit the Okcoin Reviews 2024 page on G2.

OneSafereviews

Users have shared overwhelmingly positive feedback about OneSafe, highlighting its exceptional customer support and innovative solutions that simplify complex financial tasks. The overall rating for OneSafe is 4.8 out of 5 stars.

Customers particularly appreciate the seamless onboarding process, efficient currency conversion, and the reliability of the platform. Here are some of the sentiments from satisfied users:

• "OneSafe has the best customer support I've ever experienced from a bank." - Amit Chu, Investments @ Celo Foundation
• "OneSafe is a game-changer. They solve so many headaches for our company. Finally, a banking solution that gets it." - Marco, CEO of Ensuro

For more details, visit the OneSafe page.

BitMEX, Okcoin, or OneSafe: Which is the best platform for you?

In conclusion, while BitMEX and Okcoin offer robust platforms for institutional and professional traders, OneSafe stands out with its exceptional customer support and innovative financial solutions. Each platform has its strengths, but for a seamless and comprehensive experience, we recommend OneSafe. Its user-friendly approach and reliable services make it a top choice for businesses looking to simplify their financial operations.