KuCoin vs. Binance | Side-by-Side Comparison

KuCoin

3.5/5

Binance

4.5/5

Great for

Beginners and advanced traders who prefer a very wide range of cryptocurrency offerings.

Great for

Traders who are looking to invest in a variety of altcoins and individuals who are willing to trade in large volumes.

Cryptocurrencies Offered

600

Cryptocurrencies Offered

Over 600

Fees

Withdrawal Fees: Varies based on coin

Trading Fees: 0.1%

Fees

Withdrawal Fees: Varies by coin

Trading Fees: 0.04% - 0.10%  

Bonus Offer

Get up to $500 USDT in welcome gifts

Bonus Offer

Get a $5, $45, or $50 cash voucher for signing up

Unique Features

  • Low fees

  • It allows users to purchase crypto using fiat currencies

  • Futures and margin trading

Unique Features

  • Fee discount if using BNB tokens

    High liquidity

    Futures and margin trading

Minimum Trade Amount

$2

Minimum Trade Amount

$10

Customer Support

Live chat, support page

Customer Support

Email, tweet responses, live chat

Pros

  • Supports almost 600 cryptocurrencies

  • Allows crypto lending

  • The trading bots are customizable

Pros

  • Easy sign-up process

  • Exposure to many cryptocurrencies

  • Low trading fees

  • Accepts deposits via ACH as well as debit card

Cons

  •  U.S based users have limited access to the features of the platform

  • Limited withdrawals

  • There was a major hack attack in 2020

  • Low trading volume

Cons

  • The U.I. might be confusing for beginners

  • Has had its problems with security

  • No built-in digital wallet

KuCoin vs. Binance Overview

KuCoin Exchange

For cryptocurrency trading, KuCoin is one of the best exchanges out there. During its first year of operation, more than eight million users from more than 200 countries joined the platform. Common coins like Bitcoin, Ethereum, and Litecoin are accepted on the site and harder-to-find altcoins. Trading may be made more accessible to those experienced in cryptocurrency trading because of its less user-friendly design.

Aside from that, KuCoin charges far lower costs than those charged by other cryptocurrency exchanges. Between 0.0125 and 0.10 percent of each transaction will be charged to the user’s account per trade. Consumers in the United States may want to go elsewhere for cryptocurrency trading, despite KuCoin’s widespread availability in over 200 countries.

Binance

International cryptocurrency exchange, Binance has been very popular over the years. Tokens issued by Binance may be traded for more than 600 different cryptocurrencies. This includes major digital currencies such as Bitcoin, Ethereum, Litecoin, and even the company’s own Binance Coin (BNB). However, only 65 of Binance’s cryptocurrencies may be purchased and sold by U.S. residents through another website named Binance.U.S.

All trades on Binance are charged a fixed price of 0.1 percent, one of the lowest fees in the industry. Trading costs are reduced by 25% when BNB tokens, the platform’s native cryptocurrency, is used to pay for them. This is one of the reasons why Binance is one of the most popular platforms in the industry.

Cryptocurrencies Available

KuCoin and Binance provide a large amount of cryptocurrencies in comparison to other exchanges (more than 600 in total). Binance allows you to trade over 600 different digital currencies. Coins like KCS and BNB can be exchanged in their native currency, possibly lowering trading costs. BNB’s price is much higher than that of KCS, showing that it is a better investment overall. Using BNB makes it easy to save money since owning it allows you to get a discount on trading fees. Similarly, KCS offers a discount on trading fees if you use KuCoin.

Tether (USDT), a stablecoin pegged to the U.S. dollar, is recommended by KuCoin if you wish to utilize the currency accepted in the U.S. The value of the U.S. dollar determines the tether’s exchange rate.

Fees

Despite KuCoin’s low costs, Binance’s fees are still much lower. KuCoin traders who pay with KCS will get a 20% fee reduction, while BNB holders will receive a 25% fee reduction, a significant difference. Binance costs 0.10 percent in fees, whereas KuCoin charges 0.3 percent. These fees may vary depending on the cryptocurrency asset that you’re trading and your tier.

KuCoin vs. Binance Staking, Credit Card Option

KuCoin and Binance are exchanges where you can put your crypto into staking to make more money as passive income.

Binance offers Proof of Stake (PoS) and DeFi staking. PoS staking allows users to deposit their crypto into various smart contracts that perform different functions (for example, validating network transactions). They will receive staking rewards for allowing their funds to be used. DeFi staking is another option that can provide rewards based on your risk tolerance. You can stake your coins in a liquidity pool or reward pool.

KuCoin also offers a variety of staking options. Users can participate in Fixed Staking, which means your funds will be locked while they are staked in a liquidity pool. You will earn rewards while your funds are staked.

Neither KuCoin nor Binance currently offers credit cards for their users.

KuCoin vs. Binance Security

KuCoin asserts on its website that it has “the most advanced security technology and maintenance staff, and is constantly enhancing its security protocols to ensure the protection of user assets and accounts.” On the other hand, the website provides instructions on protecting your account, such as activating two-factor authentication and limiting your login I.P. address.

Even after it was compromised, KuCoin performed an exceptional job of safeguarding its users. In 2020, bad actors stole users’ private keys and attempted to use them for trading $250 million worth of digital currency on decentralized exchanges. KuCoin’s assertions that its users have been compensated are supported by a mix of insurance and law enforcement. The KuCoin team has also established safety precautions to prevent similar incidents. In addition to Coinbase and Crypto.com, two more cryptocurrency exchanges, Coinbase and Crypto.com, have been hacked and have already refunded their impacted customers and strengthened their security.

The Binance website states a commitment to security, but no information is offered on how this promise is met. There is also no assurance that Binance will compensate Binance.US users in the case of a security breach at Binance.US.

If you are located in the US, it is wiser to choose an exchange that is subject to stricter supervision by the US government and has more transparent security procedures.

How to Decide Between KuCoin and Binance?

To finish our comparison of KuCoin vs. Binance, we developed a simple score system for each evaluation criteria, as shown below. So, what’s our main conclusion?

Score. 5 points for KuCoin and 4 points for Binance. KuCoin is the winner.

Comparison Criteria  Winner
Features & ProductsBinance
Ease of useBinance
Available CryptocurrencyKuCoin
Trading FeesKuCoin
Withdrawal FeesKuCoin
SecurityBinance
Customer SupportKuCoin
Minimum Trade AmountKuCoin
Bonus OfferBinance

If you’re an international trader and have experience trading cryptocurrencies, KuCoin may be a better option. If you’re more inexperienced, we would recommend Binance. If you’re located in the U.S., you should check out Binance.US.

Looking for even more options? We’ve written reviews on other exchanges like Coinbase, Crypto.com, and Bittrex that you can check out as well.

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