In this comparison, we’ll explore the important aspects of Bybit vs KuCoin, such as leverage options, fee structures, trading features and tools and so much more. Let’s dive in!
Key takeaways
- Bybit is a crypto exchange that was founded in 2018 and is based in Dubai. It offers over 800 trading pairs and a vast selection for traders to choose from.
- KuCoin is a crypto coin exchange platform that offers more than 700 cryptocurrencies. It was founded in 2017, and it boasts a global presence with its headquarters in the Seychelles.
- Bybit and KuCoin have unique features, including Copy trading, P2P trading, trading bots, and many more.
Bybit vs Kucoin: Overview
| Bybit | KuCoin | |
| Launched | 2018 | 2017 |
| Headquarters | Dubai, UAE | Seychelles |
| Number of Global Users | Over 20 Million | Over 31 Million |
| Daily Average Trading Volume | Over $10 Billion | Over $500 Million |
| Countries Accessible | Over 160 countries | Over 180 countries |
| Copy Trading | Available | Available |
| Bybit vs KuCoin Futures Contracts | USDC Perpetual and Futures Contracts available | Quarterly Delivery Futures and Perpetual Futures are available |
| Trading Bots | Grid Bot, DCA Bot, and Martingale Bot | Spot Grid, DCA, Futures Grid, Spot Martingale, Smart Balance, Infinity Grid |
| Customer Support | 24/7 customer support with email service | 24/7 customer support available with a self-service option |
| Supported Coins | Over 500 crypto coins with over 800 trading pairs | Offers over 700 crypto coins |
| Bybit vs KuCoin Leverage | Up to 100x | Up to 100x |
| Virtual Wallet | Available | Available |
Pros and Cons
Bybit Pros
- Bybit crypto exchange offers a vast selection of over 800 cryptocurrency pairs.
- Bybit boasts relatively lower fees on trading pairs including zero fees on popular pairs like ETH/USDC and BTC/USDC.
- Bybit offers you loan-to-value (LTV) crypto loans with flexible payment timelines.
- The Bybit Mobile app allows on-the-go crypto trading on Android and iOS devices.
Bybit Cons
- Bybit is restricted in countries like the USA
Kucoin Pros
- KuCoin offers a wide range of over 700 crypto coins with popular options to choose from including Bitcoin, Dogecoin, and Ethereum.
- Kucoin boasts a trading interface that offers a fully customizable platform, allowing you to personalize your trading experience
- Reasonable and competitive fees (negative fee rates are also possible).
- Kucoin offers an anonymous trading option
Kucoin Cons
- KuCoin may not be considered beginner-friendly due to its advanced features.
Kucoin vs Bybit Features
Let’s explore the features offered by these platforms and examine their unique characteristics.
KuCoin Features
Below are some of the Kucoin offerings that’ll pique your interest.
Margin Trading
Margin trading is where you utilize a modest sum of funds to engage in investments that surpass the initial amount significantly.
In simpler terms, when margin trading, you, the investor, are allowed to borrow money from a broker or exchange to increase the size of your investment beyond what your own capital can allow.
The KuCoin margin trading platform offers support for two distinct modes:
Cross margin
This allows you to utilize all assets held in your margin account as collateral, regardless of the token type.
With cross margin, there is no need to exchange existing tokens to borrow different types.
All tokens supported by cross margin can be transferred and utilized within the cross margin account. Currently, cross margin supports leverage of up to 5x.
Isolated margin
Each isolated margin trading pair has its own independent isolated margin account. Trades, risks, and debt ratio calculations are isolated from one another.
Only the two coins corresponding to the specific trading pair can be transferred, held, or borrowed within the isolated margin account.
The advantage of isolated margin is the isolation of risk.
Liquidation risks in one isolated margin account will not impact other isolated margin accounts.
The maximum leverage available also varies depending on the crypto trading pair, with isolated margin currently supporting leverage of up to 10x.
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Spot Trading
Spot trading is widely recognized as the simplest and most popular method of trading cryptocurrencies on the KuCoin platform.
It enables you to conveniently purchase or sell digital assets at the prevailing market price or a predetermined price.
This approach is particularly suitable for beginners and long-term investors who prefer to store their assets in their own separate digital wallets.
With over 700 coins and tokens available for spot trading, KuCoin offers a diverse range of options to cater to various trading preferences.
KuCoin Markets Overview
KuCoin Copy trading
KuCoin offers a wide selection of traders with diverse trading approaches, risk levels, and track records. By copying their trades, you can experience the same profits or losses as these master traders.
This eliminates the need for extensive market research or independent decision-making.
The platform showcases these master traders, providing valuable performance indicators like ROI (Return On Investment), win rate, follower count, and more, allowing users to make informed choices.
Futures Trading
Currently, KuCoin Futures supports trading in two types of Bitcoin futures: Quarterly Delivery Futures and Perpetual Futures.
These futures contracts allow you to engage in trading with Bitcoin as the underlying asset. The “Quarterly Delivery Futures” have a specific delivery date, while “Perpetual Futures” do not have an expiration date.
You can choose between these two options based on your trading preferences and strategies.
Futures trading on KuCoin offers a range of benefits, including the ability to hedge against price volatility, speculate on market trends, and leverage positions up to 100x.
KuCoin Trading Bot
KuCoin Trading Bots
The KuCoin trading bot can be used for automated crypto coin trading.
Once the bot takes control, it uses set parameters and crypto market analytics to analyze prices and make forecasts. It then places buy and sell orders based on these insights as the market fluctuates.
This automated process ensures trades are executed efficiently and according to predefined strategies.
The bot offers various trading strategies, with spot trading or Classic Grid trading being the most common. The bot’s success lies in its ability to eliminate human emotions and rely solely on rules and information.
Additionally, it supports Dollar-Cost Averaging (DCA) for long-term investments, allowing you to invest small amounts at regular intervals. Notably, the bot is free to use, requiring only an exchange account and deposited funds to begin trading.
KuCoin Halo Wallet
Halo wallet homepage
The Halo wallet, previously known as the Kucoin Wallet, is described as ‘The Ultimate SocialFi Ecosystem’ by the exchange and naturally, we sought to find out the truth.
We were impressed.
The term “SocialFi” in the name refers to the integration of social functionalities within the wallet. And, this means you can now go beyond mere transactional capabilities and incorporate social elements such as following wallet addresses, activity monitoring, and interaction with members of the Halo crypto community.
Right in the Halo wallet ecosystem, you’ll discover the Genesis NFT Pass. One of the top perks of the pass is that it allows users to participate in the governance of native tokens within the Halo ecosystem.
Governance includes but is not limited to, voting on proposals, influencing decisions, and contributing to the platform’s development.
If you’re into content creation, you’ll love the Genesis pass as it ensures special recognition mechanism os posts therefore, fosters a supportive community.
But that’s not all the pass is made for.
Kucoin is committed to adding even more perks such as content monetization, exclusive discounts, and much more.
Some of the benefits of the Genesis NFT pass
You can also make multi-chain swaps at the best rates and keep track of your DeFi portfolio across different protocols.
Additionally, Halo Wallet has integrated with Lens Protocol, giving you access to content posted by other users on Lens.
KuCoin Spotlight: The KuCoin Launchpad
This is a platform on KuCoin that showcases various projects through token sales and exclusive offerings.
The spotlight events feature a wide range of projects, including MetaJuice, SUI, Mechaverse, Fracton Protocol, Pikaster, and many more. This selection comes from various sectors of the blockchain industry, therefore offering a comprehensive view of emerging trends in the tech industry.
The primary goal of KuCoin Spotlight is to connect you, the investor, with promising projects at an early stage, fostering a supportive environment for both the projects and the users. This not only enables users to diversify their portfolios but also contributes to the growth and development of groundbreaking blockchain initiatives.
Bybit Features
Bybit cryptocurrency exchange offers a range of advanced trading tools and features for cryptocurrency enthusiasts. Here are some of the features that stand out on this leading crypto exchange platform.
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Bybit Crypto Trading Bot
This feature offers you a selection of pre-configured and code-free trading bots that employ effective strategies, saving time, and maximizing returns.
With the ability to adapt to different trading strategies and market conditions, these bots can generate consistent profits, mitigate risks, and execute trades automatically, relieving you from the need to constantly monitor your investment positions.
The types of trading bots available on Bybit include Grid Bot, DCA Bot, and Martingale Bot.
Bybit Trading Bot
Copy Trading
Bybit offers you the opportunity to follow and copy the trades of skilled and successful traders on their platform.
Copy trading ensures a fair and transparent trading experience, benefiting both the “master traders” and the “followers”.
As a follower, you can automatically replicate the trades of these master traders around the clock, without the need for constant monitoring.
You have the flexibility to choose your preferred master traders based on their past performance metrics such as PnL (Profit and Loss) and ROI (Return on Investment). Additionally, you can adjust your trading preferences to align with your own risk tolerance.
On the other hand, master traders who share their trading strategies can earn a profit share from their followers. If they are KOLs (Key Opinion Leaders), influencers, or experienced traders, they may even become principal traders.
These principal traders can enjoy various rewards, including sharing up to 10% of the net profit earned by each follower, receiving extra profit shares during promotional periods, and being eligible for weekly rewards.
Bybit Copy Trading Leader Board
Peer-to-Peer (P2P) Trading
On the Bybit crypto exchange, the (P2P) trading feature enables you to easily and securely buy and sell crypto coins directly with other users.
This peer-to-peer platform eliminates the need for upfront fees on transactions, offering a cost-effective way to engage in cryptocurrency trading.
Within the P2P trading platform, you have the option to browse through a variety of advertisements posted by trusted and verified advertisers.
Bybit’s simple P2P trading process
Alternatively, you can create your own advertisement to sell your coins. When buying or selling coins, you can select an advertisement that matches your preferred price and payment method.
Simply enter the desired amount of coins you wish to buy or sell and follow the seller’s instructions to complete the payment.
Once the seller confirms the payment, they will proceed to send the coins to your funding account or the fiat currency to your designated bank account.
Unified Trading Account
Bybit UTA page
With the Unified Trading Account (UTA), you can access a versatile all-in-one account mode that allows you to personalize your trading experience, manage your risk effectively, and handle your account finances seamlessly.
Say goodbye to the hassle of switching between different instrument accounts. Instead, you can enjoy the convenience of making trading adjustments, implementing risk management strategies, and managing your funds all within a single account.
Bybit’s USDC Perpetual and Futures Contracts
Bybit provides traders with a variety of USDC-settled contracts, including USDC Perpetual and USDC Futures Contracts.
USDC Perpetual Contracts enable traders to go long or short using USDC as margin, with all calculations settled in USDC. For instance, if a trader holds a 1 BTC contract and BTC’s price increases by $100, their profit will be 100 USDC.
Bybit’s USDT perpetual contract specifications
It’s important to note that USDC Perpetual Contracts only support One-Way positions. This means you can only hold either a long or short position in a contract.
USDC Futures Contracts come with a predetermined expiration date which then allows you to buy or sell assets at a specific price over a certain period.
These contracts are also quoted and settled in USDC.
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Bybit’s Web3 Wallet
Bybit’s Web3 page
Bybit’s Web3 wallet not only ensures the safety of your digital assets but also allows you a more hands-off experience when it comes to ensuring the safety of your data. Bybit describes this type of feature as non-custodial.
Benefits of the custodial Bybit wallet versus traditional non-custodial wallets
Bybit vs Kucoin: Fees
Bybit and Kucoin implement different fees for their products and services, which include trading fees, deposit and withdrawal fees, funding rates, and more.
Trading Fees
Bybit applies different fees to its various trading options. For spot trading, both makers and takers are charged a flat fee of 0.1%.
When it comes to perpetual and futures contracts, makers pay a fee of 0.02% while takers pay 0.055%. The same applies to Bybit leverage fees. For USDC options trading, the fees remain consistent at 0.02% for both makers and takers.
P2P trading on Bybit does not incur any fees. Additionally, funding fees are variable and depend on real-time factors such as the Interest Rate and Premium Index.
Traders with a high 30-day trading volume can potentially enjoy reduced fees.
At KuCoin, you’ll also find a maker-taker model in operation, which means that as a KuCoin liquidity provider (maker), you’ll be rewarded, while as a KuCoin liquidity consumer (taker), you’ll incur fees.
The standard fee for both makers and takers is 0.1%. However, you have the opportunity to leverage fee reductions by maintaining high trading volumes, holding KuCoin’s native token (KCS), and participating in their staking programs.
These options can help you optimize your trading experience on KuCoin.
Deposit and Withdrawal Fees
When using Bybit, you won’t encounter any deposit fees or Bybit withdrawal fees for any cryptocurrency.
However, it’s important to note that network fees might be imposed by your external wallet or exchange when transferring funds to your Bybit wallet.
As for KuCoin, you’ll be pleased to know that they don’t charge any deposit fees, regardless of the currency or payment method you choose to use.
However, it’s worth noting that withdrawal fees apply to all cryptocurrencies. These fees vary depending on the specific cryptocurrency you are withdrawing.
For instance, Bitcoin (BTC) withdrawals typically incur a fee of 0.000005 BTC, while Ethereum (ETH) withdrawals carry a fee of 0.001 ETH.
Bybit vs Kucoin: Security
KuCoin
KuCoin prioritizes your asset safety and data security, implementing leading industry technology to protect your assets and privacy.
With a secure-by-design foundation, KuCoin ensures swift detection and response to cyber attacks, conducting rigorous code audits and security reviews.
Your assets are stored in separate wallets with advanced encryption and trusted computing environments. The platform also provides multi-layer account security, including two-factor authentication, privacy protection, and a robust risk control system.
KuCoin’s commitment to transparency is demonstrated through regular audits and a bug bounty program that rewards researchers for identifying vulnerabilities.
KuCoin employs Proof of Reserves (PoR) verification which simplifies the process of verifying that the assets held in your KuCoin balances are supported by tangible assets.
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Bybit
Bybit is built with a security-first mindset, incorporating multiple layers of protection and industry-leading solutions.
They work closely with regulators, conduct regular audits, and employ third-party bounty programs like HackerOne, that can identify security issues before they’re exploited by hackers.
With a comprehensive security framework in place, including advanced encryption and offline storage of your funds.
Their team is dedicated to monitoring and analyzing user behavior in real time, and any suspicious activity triggers immediate action to safeguard your account.
They also prioritize privacy protection, encrypting all personal information, and implementing strict authorization controls.
Bybit’s Proof of Reserves page
Deposit Methods
Bybit offers a variety of payment methods for depositing cryptocurrencies on its platform.
Here is a list of the options available:
- Credit/Debit cards
- Google Pay
- SEPA
- Bank card (if issued by a bank)
- Paysera
- Apple Pay
Please note that the availability of these payment methods may vary depending on your country of residence due to regulatory restrictions.
With support for an extensive range of cryptocurrencies, KuCoin provides convenient solutions for cryptocurrency deposits. KuCoin offers seamless transfers between crypto wallets, allowing you to easily deposit cryptocurrencies from one wallet address to another.
When it comes to fiat currency deposits, KuCoin only facilitates such transactions through third-party providers.
A comprehensive list of supported providers, including Bank Transfer, Wise, Paypal, Zelle, and Skrill, ensures flexibility for users looking to deposit fiat currencies.
Conclusion: What Is Better? Bybit or KuCoin
Is KuCoin a good exchange? In summary, both Bybit and KuCoin offer compelling features for cryptocurrency trading and deposits.
Bybit prioritizes security and protection, with a robust security framework and strict measures in place. KuCoin, on the other hand, facilitates seamless cryptocurrency deposits with support for a wide range of crypto coins.
When deciding between the two platforms, it is important to consider your preferences and goals. If security and protection are your top priorities, Bybit’s strong security measures may be the better fit for you.
On the other hand, if you value a diverse selection of cryptocurrencies for deposits and trading, KuCoin’s extensive range of supported cryptocurrencies can be appealing.
FAQs
Is Bybit Safer than KuCoin?
According to past events, Bybit is safer than KuCoin. Bybit has maintained an impeccable track record, having never experienced a security breach or hacking incident. On the other hand, KuCoin unfortunately encountered one of the largest crypto hacks in 2020.
Both Bybit and KuCoin prioritize the security of their users and employ advanced security measures, including utilizing cold storage wallets and other cutting-edge protocols.
While both platforms take security seriously, this fundamental difference may be a crucial factor for you to consider when selecting a trading platform.
Why is Bybit better?
Bybit is a better and more preferable option for many due to its strong security track record.
It utilizes advanced technology in trading features, a user-friendly interface, offers a diverse range of cryptocurrency derivatives products, and provides excellent customer support.
Why is Kucoin better?
KuCoin is better because it’s a trading platform with a wide selection of cryptocurrencies, significant liquidity and trading volume, innovative features like KuCoin Futures and staking, enhanced security measures, and a user-friendly interface.
