Choosing the right crypto exchange can be as important as picking a good cryptocurrency. When it comes to KuCoin vs Binance, both are significant players in the crypto space with lots of features and options for traders. If you’re trying to decide between them, we’ve got you covered. We’ll compare their services, fees, security, and ease of use to help you figure out which might be best for you.
Key Takeaways
KuCoin
- KuCoin is a centralized cryptocurrency exchange that has gained recognition for its extensive altcoin library.
- It was established in 2017 and registered in the Seychelles.
- The exchange has over 700 coins and 1,253 trading pairs.
- Trading fees on KuCoin include Maker fees: 0.1% (0.05% with KCS discount) and taker fees: 0.1% (0.06% with KCS discount).
- To secure the exchange, KuCoin uses Two-Factor Authentication (2FA), SSL Encryption, Cold Storage, Multi-Signature Wallets, and Anti-Phishing Measures.
Binance
- Binance is one of the largest and most renowned cryptocurrency exchanges globally.
- The exchange was established in July 2017.
- Binance has over 1000 coins and 1246 trading pairs.
- Trading fees on the platform include maker fees: 0.1% (0.075% with BNB discount) and taker fees: 0.1% (0.075% with BNB discount).
- The exchange also has diverse deposit methods: credit card, bank transfer, AdvCash, P2P trading, and more.
- For platform security, Binance uses Two-Factor Authentication (2FA), SSL Encryption, Cold Storage, Multi-Signature Wallets, and Anti-Phishing Measures.
- Fee Comparisons: Binance has an edge over KuCoin in terms of trading and withdrawal fees.
- Deposit Methods: Binance offers a broader range of deposit options, including credit card payments, bank transfers, and more. KuCoin excels in mobile payment solutions such as Apple Pay and Google Pay.
| Aspect | KuCoin | Binance |
| Establishment | Established in 2017 | Founded in July 2017 |
| Altcoin Variety | Over 700 coins and 1253 trading pairs | Over 1000 coins and 1246 trading pairs |
| User-Interface | Beginner-friendly | Complex for beginners |
| Trading Fees | Maker fees: 0.1% (0.05% with KCS discount), Taker fees: 0.1% (0.06% with KCS discount) | Maker fees: 0.1% (0.075% with BNB discount), Taker fees: 0.1% (0.075% with BNB discount) |
| Deposit Methods | Credit and Debit cards, Apple Pay, Google Pay | Credit card, bank transfer, AdvCash, P2P trading, more |
| Margin Trading | 10x maximum leverage | Up to 200x for some coins |
| Staking Options | Over 60 cryptocurrencies supported | Over 100 cryptocurrencies supported |
| Availability in the U.S. | No | Yes |
Kucoin Overview
KuCoin is a centralized cryptocurrency exchange established in 2017 and registered in the Seychelles. Since its launch, this platform has gained recognition for its extensive altcoin library. KuCoin currently has over 700 coins and 1253 trading pairs, including its native token, KuCoin Token (KCS).
Besides that, the exchange offers various crypto trading services, including spot trading, margin trading, futures trading, and more. This gives users different options to meet their trading preferences and risk tolerance.
Want to start trading on KuCoin? Sign up on this link using the code “QBSHE12V” and unlock a welcome gift offer of up to 700 USDT.
Pros
- Numerous Trading Pairs: KuCoin provides a wide selection of trading pairs, allowing users to trade between cryptocurrencies. This extensive range of trading pairs appeals to traders looking for diverse options.
- Trading Bots: The platform offers trading bots to simplify trading for users. These automated trading tools can execute trades based on predefined strategies and parameters.
- Beginner-Friendly: KuCoin is often considered more beginner-friendly compared to some other exchanges. It offers a user-friendly interface and resources for individuals new to cryptocurrency trading.
Cons
- Lower Trading Volume: At the time of writing, KuCoin had a 24-hour trading volume of $494,431,638.72. This is lower than other leading exchanges like Binance, which has a 24-hour trading volume of $5,273,691,782.44. Lower trading volume can lead to liquidity issues and potentially higher spreads for some trading pairs.
- Limited Advanced Trading Features: While KuCoin offers a range of trading services, it may have fewer advanced features and tools than other exchanges. Traders who require advanced charting, analytics, or order types may need to look elsewhere.
Related: 10 Best Altcoin Exchanges for Beginners in 2023
Binance Overview
Binance is one of the largest and most well-known cryptocurrency exchanges globally, founded by Changpeng Zhao and He Yi in July 2017.
This popular crypto trading platform started with an Initial Coin Offering (ICO) and has since become a dominant player in the cryptocurrency market. Currently, over 1000 coins and 1246 trading pairs are available on the exchange. But that is not all that makes Binance a go-to crypto exchange.
Besides its comprehensive token collection, Binance also offers one of the market’s most affordable crypto trading fees. This helps traders reduce costs and possibly increase their profit margins.
Pros:
- High Liquidity: Binance boasts high liquidity. This liquidity can result in tighter spreads and more efficient order execution, benefiting traders.
- Advanced Cryptanalysis Tools: Binance provides a range of advanced trading features and tools for experienced traders. This includes advanced charting, technical analysis indicators, and various order types, catering to traders with diverse strategies.
- Impressive Security Measures: Binance strongly focuses on security and employs various measures to protect users’ assets, including cold storage of funds, two-factor authentication (2FA), and an insurance fund to cover potential losses.
Cons:
- Complex for Beginners: Binance’s extensive range of features and trading options can be overwhelming for newcomers to the cryptocurrency space. The platform’s complexity may make it less user-friendly for those just starting with crypto trading.
- Extremely Strict and Mandatory KYC Process: The Binance Know Your Customer (KYC) verification process is extremely thorough. While this is a good security measure, it may discourage some users because of its complex and mandatory nature.
New to Binance? Sign up here and use our referral code “NQ2WIF73” for a generous $100 Welcome Bonus.
KuCoin vs Binance: Main Differences
Binance and KuCoin, as two prominent cryptocurrency exchanges, each have unique strengths and cater to different types of users.
KuCoin is suitable for beginners and traders seeking a more user-friendly experience. The exchange offers diverse altcoins, appealing to traders interested in exploring a wide range of digital assets.
Binance, on the other hand, is better suited for experienced traders who require a comprehensive array of features and services. It provides advanced tools, high liquidity, and an extensive range of trading pairs. Binance is renowned for its robust security measures and appeals to traders with various strategies and experience levels. Let’s dive deeper into these differences.
Related: Binance Referral Code (November 2023): $100 Welcome Bonus
Fee Comparisons
Trading Fees
When it comes to fees, both Binance and KuCoin have tiered maker/taker fee structures that start at 0.1%. Additionally, both exchanges offer discounts on trading fees when using their native tokens.
Binance:
- Maker fees: 0.1% (0.075% with BNB discount)
- Taker fees: 0.1% (0.075% with BNB discount)
KuCoin:
- Maker fees: 0.1% (0.05% with KCS discount)
- Taker fees: 0.1% (0.06% with KCS discount)
Both exchanges share the same margin trading fee structure, with 0.015% for makers and 0.03% for takers.
In futures trading, Binance offers slightly lower fees, with 0.02% for makers and 0.04% for takers. KuCoin charges a slightly higher rate of 0.03% for makers and 0.06% for takers.
Withdrawal Fees
Withdrawal fees depend on the specific cryptocurrency and withdrawal method used. Binance offers a broader range of withdrawal options, and in many cases, it tends to have lower withdrawal fees than KuCoin. For a thorough comparison, here’s Binance’s fee structure and KuCoin’s fee structure
| Feature | Binance | KuCoin |
| Maker fees | 0.1% (0.075% with BNB discount) | 0.1% (0.05% with KCS discount) |
| Taker fees | 0.1% (0.075% with BNB discount) | 0.1% (0.06% with KCS discount) |
| Margin trading fees | 0.015% | 0.015% |
| Futures trading fees | 0.02% for makers and 0.04% for takers | 0.03% for makers and 0.06% for takers |
| Withdrawal fees | Vary depending on the cryptocurrency and the withdrawal method used, but generally lower than KuCoin | Vary depending on the cryptocurrency and the withdrawal method used, but generally higher than Binance |
Winner: Binance holds a slight advantage over KuCoin in terms of fees. Binance has lower futures trading fees and withdrawal fees. Here’s a table summarizing KuCoin vs Binance fees.
Related: Top 6 Best Crypto Exchanges for Day Trading 2023 – CoinWire
Deposit Method Comparisons
When it comes to deposit methods, Binance and KuCoin offer different options for users:
Binance supports:
- Credit card
- Bank transfer via SWIFT
- AdvCash
- Binance’s Convert & OTC Portal
- Local peer-to-peer (P2P) trading
KuCoin supports:
- Credit and Debit cards
- Apple Pay
- Google Pay
The choice between the two exchanges depends on the user’s preferred deposit method and accessibility.
Winner: Both exchanges have a range of deposit methods. Binance’s broader options might benefit users looking for more diverse deposit methods. At the same time, KuCoin’s support for popular mobile payment solutions can appeal to those who prefer more portable and convenient options.
Related: MEXC vs KuCoin: Which Crypto Exchange is Better in 2023?
Trading Options Comparisons
There are several trading options for users to explore on KuCoin and Binance. Let’s discuss what each exchange offers in greater detail.
Margin Trading
Binance and KuCoin provide margin trading services, enabling traders to leverage borrowed funds for their trades. It’s important to note that margin trading can magnify gains and losses, so you should approach it cautiously or avoid it, especially if you are still new to crypto trading.
Here is a comparison of margin trading on Binance and KuCoin.
| Feature | Binance | KuCoin |
| Maximum leverage | 125x | 5x (cross-margin), 10x (isolated margin) |
| Margin trading fees | 0.015% for makers, 0.03% for takers | 0.015% for makers, 0.03% for takers |
| Margin trading modes | Cross-margin and isolated-margin | Cross-margin and isolated-margin |
| Auto-borrow | Yes | Yes |
| Stop-loss and take-profit orders, and trailing stop-loss orders | Yes | Yes |
| OCO orders | Yes | Yes |
| Margin calculator | Yes | Yes |
| Lending margin | Yes | No |
| Margin trading competitions | Yes | No |
Winner: Binance is the best choice for margin trading. Binance offers higher maximum leverage options and a more comprehensive set of advanced features, enhancing users’ overall margin trading experience.
Related: Best Crypto Exchanges For Margin Trading in 2023
Futures Trading
Binance and KuCoin provide futures trading services, enabling traders to engage in speculative trading on the future price movements of cryptocurrencies. Since futures contracts involve leverage, they have the potential to magnify both profits and losses.
Let’s compare futures trading on Binance and KuCoin.
| Feature | Binance | KuCoin |
| Number of contracts supported | Over 100 | Over 50 |
| Maximum leverage | 125x | 100x |
| Futures trading fees | 0.02% for makers, 0.04% for takers | 0.03% for makers, 0.06% for takers |
Binance supports a broader range of futures contracts, offers higher maximum leverage options, and provides a richer set of advanced features, enhancing users’ overall futures trading experience.
Winner: Binance offers a more comprehensive and favorable futures trading experience when compared to KuCoin.
Related: How to Buy Bitcoin In New York: 5 Best Crypto Exchanges
Staking
Binance and KuCoin offer staking services, allowing users to earn passive income by holding and locking up their cryptocurrency assets. Staking is a relatively low-risk way to earn rewards and can be an excellent way to generate revenue from your crypto holdings.
The table below compares staking on Binance and KuCoin.
| Feature | Binance | KuCoin |
| Number of cryptocurrencies supported | Over 100 | Over 60 |
| Minimum staking period | Varies depending on the cryptocurrency | Varies depending on the cryptocurrency |
| Staking rewards | Varies depending on the cryptocurrency | Varies depending on the cryptocurrency |
| Staking features | Flexible staking, locked staking, auto-staking | Flexible staking, and locked staking |
Binance offers a more robust staking experience when compared to KuCoin. It supports a wider variety of cryptocurrencies available for staking and provides more flexible staking options, giving users greater choice and versatility in their staking activities.
However, KuCoin offers a simpler and more accessible staking option. This makes it a preferred choice for users seeking a more beginner-friendly staking experience.
Winner: Binance and Kucoin are equally impressive staking platforms. While Binance supports more crypto coins for staking, KuCoin has a simpler staking interface for beginners.
Related: 8 Best No KYC Crypto Exchanges in 2023 (Buy Crypto No KYC)
Security Comparison
When it comes to security, Binance and KuCoin both prioritize the safety of their users’ funds and data by implementing various protective measures, including:
- Two-Factor Authentication (2FA): Both exchanges offer 2FA. This additional security layer requires users to provide a secondary code from their mobile device when logging in, enhancing account protection.
- SSL Encryption: Binance and KuCoin use SSL encryption to safeguard data during transmission, ensuring that sensitive information remains private and secure.
- Cold Storage: Both exchanges have cold storage solutions to store cryptocurrencies offline, safeguarding them from potential online threats and hacking attempts.
- Multi-Signature Wallets: Multi-signature wallets require multiple authorizations for transaction execution. Both platforms use this feature to increase the complexity of accessing and transferring funds, making it more challenging for unauthorized parties to steal assets.
- Anti-Phishing Measures: Binance and KuCoin take measures to shield users from phishing attacks, which are attempts to deceive individuals into disclosing login credentials and sensitive data.
In addition to these shared security practices, both exchanges maintain dedicated security teams focused on identifying and mitigating potential threats.
Winner: Binance is considered safer than KuCoin. KuCoin experienced a security breach in 2020, whereas Binance has not reported any known hacking incidents. While KuCoin has enhanced its security measures since the breach, this past event makes Binance stand out as a more secure platform.
Related: OKX vs Binance: Which Crypto Exchange is Better in 2023?
Conclusion: Is KuCoin better than Binance?
One clear theme in our Binance vs KuCoin comparison is that both exchanges have unique features and strengths, catering to different segments of the cryptocurrency trading community.
Binance stands out with its impressive features, making it a go-to platform for experienced traders. It offers advanced trading options, high liquidity, a wide selection of cryptocurrencies, and an enhanced security track record.
On the other hand, KuCoin is a commendable Binance alternative, particularly for newcomers to the cryptocurrency space. With its user-friendly interface, lower fees, and diverse altcoin library,
Ultimately, your decision should align with your experience level, specific needs, and the trading experience you seek. While Binance’s extensive features make it the preferred choice for seasoned traders, KuCoin is an excellent alternative, especially for those new to the crypto world.
FAQs
Is KuCoin safer than Binance?
Binance and KuCoin prioritize security and have implemented various protective measures, including Two-Factor Authentication (2FA), SSL encryption, cold storage for cryptocurrency holdings, multi-signature wallets, and anti-phishing measures.
However, a key differentiator is that KuCoin experienced a security breach in 2020. While KuCoin has since enhanced its security measures, this past event highlights a vulnerability that Binance has yet to experience.
Based on this information, Binance has a more robust security track record and is considered safer than KuCoin. But all online platforms are susceptible to hacks and online frauds, so you should use offline wallets like Ledger or Trezor for enhanced security.
Is KuCoin Available in the U.S.?
KuCoin is not licensed to operate in the United States. This means that individuals in the United States may have limitations or restrictions when using KuCoin.
For U.S. residents seeking secure and regulated cryptocurrency exchanges, Coinbase and Binance.US are good alternatives. These platforms comply with U.S. regulatory requirements and offer various cryptocurrency trading services.
