Bitcoin (BTC) vs. OKB (OKB)

The crypto world is full of debate, and one of the biggest debates is about the differences between Bitcoin (BTC) and OKB (OKB). Both are on the crypto market and have unique benefits, different trading volumes and drawbacks, so deciding which is right for you can be tricky.

In this blog post, we’ll explore the key differences between BTC and OKB so that you can make an informed decision about which one to invest in. Read on to learn more about BTC vs. OKB.

History

Bitcoin

Bitcoin is the first and most well-known cryptocurrency, created in 2009 by Satoshi Nakamoto. It is a decentralized digital currency, not issued or regulated by any government. Investors can use Bitcoin to buy goods and services, provide a passive income, or exchange for other currencies.

OKB

OKB is the global utility token of the cryptocurrency exchange and was created in 2017 by OkCoin, a Chinese cryptocurrency exchange. It is an ERC20 token built on the Ethereum blockchain. OKB is used to pay for fees on OkCoin and can also be used to trade other cryptocurrencies on the platform.

What Are They, And Why Were They Created?

Bitcoin

Bitcoin is a decentralized, peer-to-peer electronic cash system. Bitcoin is used to buy goods and services or to trade for other cryptocurrencies. Bitcoin was created in response to the financial crisis of 2008.

OKB

OKB is an ERC20 token that gives holders various benefits on the OKEx platform, such as service fee discounts, early access to new products, and voting rights. OKB token plays an integral role in the OKEx ecosystem, enabling users to gain up to 40% discount on transactions.

OKB is the native token issued by the OK Blockchain Foundation and OKEx cryptocurrency exchange. OKB holders can enjoy benefits such as discounted trading fees, voting rights for platform decisions, and access to exclusive OKEx events.

OKB was created to give people an easy way to access and use digital assets.

Price History

Bitcoin

Bitcoin was first released in 2009, and its price remained relatively stable for the next few years. In 2013, however, Bitcoin began to see rapid growth, rising from around $100 to over $1,000 by the end of the year.

This trend continued into 2014, with Bitcoin reaching a peak of over $1,200. After that point, however, the price of Bitcoin began to decline, and it fell back below $1,000 in 2015.

Things changed again in 2016 when Bitcoin began to rise rapidly once more. In 2017, the digital asset reached a new all-time high of over $20,000; in 2018, it went back down to around $3000 per Bitcoin.

OKB

The OKB price history has fluctuated quite a bit since its launch in 2017. In the beginning, one OKB was worth around $1.60 USD. However, by early 2018, the price had risen to nearly $5. This surge in price was due to the growing popularity of the OKB token and the OKEx exchange.

The price to buy OKB went down, and by mid-2018, it was trading for around $1. The price then remained relatively stable until early 2019, when it began to rise again. This time, the OKB price reached a high of around $44.17 in 2021. Its current price at the time of writing is approximately $15.99.

Market Cap

Bitcoin

At the time of writing, the market capitalization of Bitcoin is just over $396 billion.

OKB

At the time of writing, OKB’s market cap is around $950 million.

Daily Transactions

Bitcoin

Using Bitcoin to purchase goods or services is becoming increasingly popular as more and more businesses will accept it as payment. Users need to have a bitcoin wallet set up to make a transaction.

BTC has a circulating supply of 18.74 million (as of June 2021). At the time of writing (October 2022), there is a circulating supply of just over 19 million Bitcoins.

OKB

There are a lot of different places that you can go to make your daily transactions. One of the most popular places is an exchange, where you can buy and sell different types of cryptocurrency. You can also use an exchange for a multi-currency wallet to trade with the major trading pairs, including USDT, BTC and ETH.

The trading volume for 24 hours is $34.73M. At the time of writing, OKB stock has a circulating supply of 60 million. (October 2022).

Block Size

Bitcoin

Bitcoin’s block size is 1MB.

OKB

OKB’s block size is 8MB, meaning that OKB can handle more transactions per second than Bitcoin. However, Bitcoin’s smaller block size makes it easier to validate transactions and more secure.

Similarities

BTC and OKB are digital assets used to purchase goods and services.
Both assets are stored in digital wallets and can be transferred peer-to-peer.
BTC and OKB can also be used to buy other cryptocurrencies.

Differences

Bitcoin is a decentralized currency, while OKB is centralized.
Bitcoin is based on blockchain technology, while OKB uses a different system called OKChain.
Bitcoin can be used for purchases and payments, while OKB is used primarily as a utility token on the OKEx exchange.
Bitcoin has a limited supply of 21 million coins, while OKB has an unlimited supply.

Risks

Bitcoin

Volatility: The value of Bitcoin can fluctuate dramatically from day to day or even hour to hour, making it difficult to use as a currency since you never know how much your Bitcoin will be worth when you spend it.

Hackers: Because Bitcoin is stored electronically, it is vulnerable to hacking. If a hacker gains access to your Bitcoin wallet, they could steal all of your coins.

Scams: There are many scams associated with Bitcoin, including fake wallets and exchanges that will take your money and not give you any Bitcoins in return.

OKB

Lack of adoption: OKB is not as widely accepted as Bitcoin, so finding places to spend it can be difficult. This could change as OKB tokens become more popular, but for now, it’s something to be aware of.

Price manipulation: The small size of the OKB market means it is easier for large investors to manipulate the price. This could make it difficult to get a fair price when selling OKB.

New project: OKB is a new project, and it is still in development. This means that there is a risk that the project may not be completed or may not meet expectations.

Where To Buy

Bitcoin

You can buy Bitcoin on various crypto exchange platforms, each with its benefits and drawbacks. Some exchanges are geared towards experienced traders, while others are more user-friendly for beginners. Selecting a suitable exchange is essential, as there have been instances of hacks and scams in the past.

OKB

When it comes to purchasing OKB, there are a few different crypto trading platform options available. One option is to buy OKB directly from the official OKEx website, and another is to purchase OKB through a cryptocurrency exchange that offers the token.

Here are a few exchanges that offer OKB:

Exchanging Bitcoin For OKB

Bitcoin (BTC) is the world’s first and most widely-traded cryptocurrency. OKB is a native token of the decentralized OKEx exchange, and BTC token holders can exchange for OKB on the OKEx platform.

Here’s a step-by-step guide on how to exchange BTC for OKB when joining OKEx:

Hover over the “Futures” tab at the top of the page and click “Spot Trading” in the drop-down menu.

On the Spot Trading page, select “BTC/USDT” from the list of markets on the left side of the screen.

Enter the amount of BTC you want to exchange for OKB in the “Buy/Sell” section in the center of the screen and click “Buy BTC” (or “Sell BTC” if you want to sell your BTC for OKB).

Your trade will be executed immediately at the current market price.

Future Plans For Bitcoin And OKB Tokens

Bitcoin

In 2023/2024, Bitcoin believes its trading volume will continue to be the dominant cryptocurrency.

The price of Bitcoin will continue to rise, according to Zipmex, reaching an average price of $100,000 per BTC.

Bitcoin believes it will remain the most popular cryptocurrency for investment, with around 70% of investors holding BTC.

OKB

As OKB stock continues to grow and evolve, the team has exciting plans for the future. In the next few years, the team aims to solidify its position as a top 10 cryptocurrency by market cap. They also plan to launch their mainnet and expand their ecosystem of decentralized applications (dApps).

In 2023/2024, the team envisions OKB tokens becoming the native currency of the open-source economy. To achieve this, they will continue building their infrastructure and partnerships. The team will also focus on increasing the adoption of OKB by businesses and developers.

Looking further into the future, the team believes that OKB has the potential to become the global reserve currency. This would mean that the OKB token would be used as a store of value and a medium of exchange by people worldwide.