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

Institutional crypto trading platforms are vital for businesses like Kraken and Okcoin as they offer specialized tools and services tailored to high-value clients such as trading firms and asset managers. These platforms enhance liquidity, provide advanced trading features, and ensure robust support, making them indispensable for attracting and retaining institutional clients. We'll compare Kraken and Okcoin based on factors like liquidity, execution speed, and client support to determine which platform best meets the needs of institutional traders.

A quick overview on Kraken and Okcoin

What is Kraken?

Kraken is a cryptocurrency exchange that provides a comprehensive suite of services for institutional traders, including trading, staking, and custody. Unique features like deep liquidity, low latency trading, and robust API integration make it a versatile platform for high-value clients. With over a decade of experience, Kraken offers tailored solutions to meet the diverse needs of trading firms, asset managers, and other institutional clients.

What is Okcoin?

Okcoin is a cryptocurrency trading platform that caters to institutional clients with services like spot trading, OTC trading, and leverage trading. Unique features include industry-low fees, instantaneous funding through global banking partners, and integration with the Lightning Network for crypto wallet services. The platform also offers advanced APIs and tailored settlement solutions to meet the diverse needs of its clients.

Features of Kraken and Okcoin

Kraken features

Kraken offers a range of unique features that cater to the needs of institutional traders:

• Subaccounts: Allows users to trade and manage multiple trading strategies separately, providing flexibility and control over different investment approaches.
• Real-time Market Data: Provides historical and real-time market data for research and backtesting, including L3 and enriched data, enabling informed decision-making.
• API Integration: Offers connectivity via API, WebSockets, REST, and FIX 4.4, with IP whitelisting options, ensuring seamless integration with existing systems.
• Deep Liquidity: Highly liquid order books across spot and stablecoins, enhanced by a diverse client base, which helps in executing large trades efficiently.
• Speed and Stability: Low latency digital asset trading with a baseline round-trip latency of 2.5ms, 99.9% uptime, and over a million requests per minute, ensuring reliable and fast trading experiences.

Okcoin features

Okcoin provides a range of unique features that cater to the needs of institutional traders:

• Low Trading Fees: Offers a competitive fee structure, making it cost-effective for high-volume trading.
• Instantaneous Funding: Provides quick access to funds through global banking partners like Signature Bank, Silvergate Bank, and Prime Trust.
• Advanced Trading Tools: Includes spot trading, OTC trading, and leverage trading with margin loans ranging from 1-10X.
• 24/7 Global Client Services: Ensures continuous support for institutional clients, regardless of their location.
• Customized Client Financing: Offers account pre-funding and credit options, tailored to meet the specific needs of each client.

Comparing Kraken, Okcoin and OneSafe's features

Why choose one over the other?

• Why Choose Kraken Over Okcoin: Kraken's deep liquidity and low latency trading make it ideal for executing large trades efficiently, a crucial factor for institutional clients. Additionally, Kraken's extensive experience in the crypto industry and robust API integration provide a reliable and versatile platform for high-value clients.
• Why Choose Okcoin Over Kraken: Okcoin's industry-leading low fees and instantaneous funding through global banking partners offer significant cost savings and quick access to funds. Furthermore, Okcoin's advanced trading tools and 24/7 global client services ensure continuous support and flexibility for institutional traders.

Considering OneSafe vs Kraken and Okcoin

• Why Choose OneSafe Over Kraken and Okcoin: OneSafe offers a seamless onboarding process and multi-currency support, making it easier for global businesses to manage their finances efficiently. Unlike Kraken and Okcoin, OneSafe provides instant crypto to fiat conversions and vice versa, ensuring quick and flexible transactions for businesses involved in Web3 and cryptocurrency.

What are the customers saying?

Kraken reviews

Users generally appreciate Kraken for its wide range of supported tokens, ease of use, and robust security features. However, some users have expressed frustrations with the platform, particularly regarding market value comparisons and the extensive documentation required during setup. Despite these issues, Kraken maintains a strong overall rating of 4.1 out of 5 stars.

• "Being able to have different applications built in one, e.g., taking payments and signing up customers." - Aqib A.
• "It is now nearly two years ever since I implemented Kraken. Prior to this tool, I was using LocalBitcoins which was full of fraudsters. With Kraken, I am able to trade (buy and sell) bitcoins. It has an iOS mobile application which is easy to use and has a clean UI interface." - Ricky P.

For more detailed reviews, visit Kraken Reviews 2024.

Okcoin reviews

Users have mixed opinions about Okcoin. Some appreciate its notification system, selection of alt-coins, and the ability to convert, send, and receive crypto. However, many users express frustrations with the app's instability, limited availability of cryptocurrencies, 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 detailed reviews, visit Okcoin Reviews 2024.

OneSafereviews

Users have praised OneSafe for its exceptional customer support and innovative solutions that simplify complex financial tasks. The platform has received an overall rating of 4.8 out of 5 stars. Here are some sentiments from satisfied customers:

• "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 detailed reviews, visit OneSafe.

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

In conclusion, while Kraken and Okcoin offer robust features and services tailored to institutional traders, OneSafe stands out for its exceptional customer support and innovative financial solutions. Each platform has its strengths, but OneSafe's seamless onboarding and multi-currency support make it a top recommendation. Ultimately, any of these platforms could be a good fit, but OneSafe's user-centric approach gives it an edge.