Binance or OKX for beginners? The facts side by side
Short answer
It depends on what you care about; here they are side by side. Sign-up: Binance needs an email or phone number, OKX both. Verification: Binance usually within 48 hours, OKX within 24. Regular-user spot fees: Binance 0.1%; OKX maker 0.08%, taker 0.1%.
Spot fees
Binance 0.1%, OKX from 0.08%
Regular users; OKX taker 0.1%
Identity verification
Binance 48 hours, OKX 24 hours
Usual times; set by the exchange
New-user rewards
Binance welcome tasks, OKX first-trade reward
Terms and deadlines are on the reward page
Missed the referral code
Binance: within 30 days; OKX: no
Enter it at sign-up: FAIRR on Binance, FAIRR on OKX
How to use this table
Decide which parts matter to you: fees, how fast verification is, new-user rewards, what you need to sign up
In the table below, read each row across both exchanges
When you sign up, check the referral code box: FAIRR on Binance, FAIRR on OKX
After sign-up, verify your identity on the official website or app
Not sure? Ask @FairRebateBot
Binance vs OKX
Binance
- What you need to sign up
- Email or phone number; Apple or Google accounts work too
- Identity verification time
- Usually within 48 hours, longer in special cases
- Spot fees (regular users)
- 0.1% maker and taker; 25% off when you pay with BNB
- Referral code
- FAIRR, 20% off trading fees
- New-user rewards
- Verify, then finish the welcome tasks: up to $100 in spot trading fee vouchers
- Missed the referral code
- Within 30 days of sign-up, before any deposit or trade, you can add it yourself
- Official app
- Official download page, App Store, Google Play
OKX
- What you need to sign up
- Both an email and a phone number
- Identity verification time
- About 30 seconds; up to about 24 hours if further review is needed
- Spot fees (regular users)
- Maker 0.08%, taker 0.1%
- Referral code
- FAIRR, 20% off trading fees
- New-user rewards
- Make one trade above the minimum within 29 days of signing up; rewards paid over 7 days, up to a cap
- Missed the referral code
- Can't be added or changed after sign-up
- Official app
- From the official download page to the App Store or Google Play
| Exchange | Binance | OKX |
|---|---|---|
| What you need to sign up | Email or phone number; Apple or Google accounts work too | Both an email and a phone number |
| Identity verification time | Usually within 48 hours, longer in special cases | About 30 seconds; up to about 24 hours if further review is needed |
| Spot fees (regular users) | 0.1% maker and taker; 25% off when you pay with BNB | Maker 0.08%, taker 0.1% |
| Referral code | FAIRR, 20% off trading fees | FAIRR, 20% off trading fees |
| New-user rewards | Verify, then finish the welcome tasks: up to $100 in spot trading fee vouchers | Make one trade above the minimum within 29 days of signing up; rewards paid over 7 days, up to a cap |
| Missed the referral code | Within 30 days of sign-up, before any deposit or trade, you can add it yourself | Can't be added or changed after sign-up |
| Official app | Official download page, App Store, Google Play | From the official download page to the App Store or Google Play |
| Sign up | Sign up | Sign up |
The exchange has the final word
FAQ
Which one has lower fees?
It depends on how you place orders. Regular-user spot: Binance 0.1% for maker and taker, 25% off with BNB; OKX maker 0.08%, taker 0.1%. More in the fee comparison.
Do the new-user rewards require futures?
Neither of these does: Binance's welcome-task vouchers only cover spot trading fees; OKX's first-trade reward doesn't count stablecoin pairs. Terms and deadlines are on the reward page.
Can I sign up with both?
Yes: one account on each, each with its own referral code. See can I sign up with both Binance and OKX.
What do I need to sign up?
Both exchanges side by side: what you need to sign up for Binance and OKX.
Someone promises high returns if I trade on one exchange with them. Is that real?
No. Saying returns are guaranteed, or promising high returns, are warning signs.