"Huobi", "Binance", and "OKEx" are the top three. For ordinary people, these three trading platforms are still very reliable. Let's take a look at the specific differences below.
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The three most commonly used cryptocurrency trading platforms in China are OKEx, Huobi, and Binance. They are developed by Chinese people and have Chinese versions, which are more suitable for Chinese users. In this article, Xixi will compare which platform has the lowest trading fees.
I hope everyone pays attention to the transaction fees in cryptocurrency trading and tries to save as much as possible.
First, here are the download links for the three major exchanges:
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2024 Huobi Network Trading Platform v10.23.0 Android Version
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Type: Banking and Finance
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Size: 174MB
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Language: Simplified Chinese
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Date: 2024-04-26
](https://basebiance.com/771312.html)[View Details](https://basebiance.com/771312.html)
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Binance Exchange v2.81.6 Official Android Version
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Type: Banking and Finance
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Size: 179MB
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Language: Simplified Chinese
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Date: 2024-04-26
](https://basebiance.com/772459.html)[View Details](https://basebiance.com/772459.html)
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OKEx (Virtual Currency Trading Platform) v6.64.0 Official Android Version
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Type: Banking and Finance
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Size: 295.36MB
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Language: Simplified Chinese
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Date: 2024-04-24
](https://basebiance.com/binanceen/)[View Details](https://basebiance.com/binanceen/)
I. Main Factors Affecting Transaction Fees#
For mainstream exchanges like Binance, Huobi, and OKEx, if you are new to the cryptocurrency market, you need to understand the factors related to transaction fees:
● Maker or Taker: Maker refers to placing an order and not immediately executing it, while Taker refers to executing an order immediately. The transaction fees for placing orders are usually less than or equal to those for executing orders.
● Whether to use platform tokens for fee deduction: Binance and Huobi support using platform tokens to deduct transaction fees and provide more favorable fee rates. OKEx currently does not support this.
II. Spot Trading Fees#
- No threshold, without using platform tokens for fee deduction
Binance fees: Maker 0.1%, Taker 0.1%;
Huobi fees: Maker 0.2%, Taker 0.2%;
OKEx fees: Maker 0.1%, Taker 0.15%;
It can be seen that for complete beginners without using platform tokens for fee deduction, the transaction fees of the three major exchanges range from 0.1% to 0.2%. At this time, Binance has the lowest fees.
- No threshold, using platform tokens for fee deduction
Binance fees: Maker 0.075%, Taker 0.075%;
Huobi fees: Maker 0.2%, Taker 0.2%;
OKEx fees: Not supported;
It can be seen that when using platform tokens for fee deduction, Binance has the lowest fees.
III. Contract Trading Fees#
Binance: Maker 0.02%, Taker 0.03% (lower for higher-level users);
Huobi: Maker 0.02%, Taker 0.03%;
OKEx: Maker 0.02%, Taker 0.05%;
For new users, the contract trading fees of Binance and Huobi are equally low. For higher-level users, Binance has lower fees.
Based on comprehensive comparison, I have concluded that whether it is spot trading or contract trading fees, Binance is the most user-friendly exchange. It maintains its low fees and is the lowest in the industry in China. Binance's platform token BNB has also been performing well recently. Users can hold it for long-term trends and use it for fee deduction to save on transaction costs.
Lowest holding cost, highest fee discount on the entire network
Nowadays, it has become a trend to enjoy fee discounts by holding platform tokens. Users who participate in trading on the three major exchanges can use platform tokens to pay transaction fees and get corresponding discounts, regardless of the token being traded.
Through my research, I found that OKEx has the highest fee discount and the lowest cost for holding OKB on the platform, which gives it a clear advantage over Huobi and Binance.
The main advantages of holding OKEx are as follows:
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OKEx fee discounts cover spot trading, futures contracts, and perpetual contracts, with a wide range of applications;
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Both OKEx and Binance have low base fees, both at 0.1%, while Huobi has a higher base fee of 0.2%;
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For ordinary users, OKEx and Huobi only have restrictions on holding platform tokens, with no minimum trading volume requirement. In addition to the BNB holding restriction, Binance also has a minimum trading volume requirement.
At the same time, I found that when the three major platforms adopt the same fee rate, the cost and restrictions are different. OKEx has the lowest cost and the least restrictions, making it the best choice.
Which platform has the lowest fees: OKEx, Huobi, or Binance?#
Binance
No project margin requirements for listed projects.
Huobi
① Project parties need to deposit 500,000 HT as a margin, which will be refunded in 12 monthly installments starting from the second month of listing on HADAX.
② Role of the margin: If the project meets the delisting conditions (such as team dissolution, team request for delisting, insufficient liquidity, sudden fork, violation of laws and regulations, etc.), the remaining margin will be used to compensate users.
OKEx
After the project party enters the voting stage for listing, they need to deposit 200,000 to 300,000 OKB as a risk guarantee fund. The risk guarantee fund will be refunded in 12 monthly installments starting from the second month of the project's listing on OKEx. The quantity of OKB in the risk guarantee fund does not count towards the voting score.
The specific requirements for the risk guarantee fund are as follows:
① OKB trading area: 200,000 OKB
② OKB/BTC/ETH trading area: 250,000 OKB
③ OKB/BTC/ETH/USDT trading area: 300,000 OKB
Which platform is easier to use: OKEx, Huobi, or Binance?#
OKEx
Advantages: No loss of funds, independent wallet product, favorable political background, secure fund withdrawal, strong technology;
Disadvantages: Few financial products, low returns.
Huobi
Advantages: Few fund losses on the old platform, more financial products;
Disadvantages: Many scams, poor risk control.
Binance
Advantages: Good liquidity, able to afford fund losses;
Disadvantages: Poor technology, fund losses for three consecutive years, poor customer service, incorrect political stance, unattractive interface.
In summary, the advantages and disadvantages of the three major platforms have been presented here. Everyone can choose the platform that suits them based on their own situation and needs. I hope the above introduction is helpful to everyone. For more content, please continue to follow Biyi Home.
More tags to read:
OKEx, Huobi, Binance fees