Are you looking for the best crypto exchange to trade, buy, or sell your favorite cryptocurrencies? If so, you may have heard of MEXC and Kucoin, two of the world’s most popular and reputable crypto exchanges.
But which one is better for you? How do they compare regarding features, fees, security, and customer support? This article will help you answer these questions by providing an unbiased comparison of MEXC vs Kucoin.
Key Takeaways:
- MEXC is better than Kucoin regarding to the number of supported tokens and trading pairs.
- MEXC is better than Kucoin, with zero trading fees and low withdrawal fees compared to the Kucoin platform.
- Kucoin is better than MEXC in terms of high-volume trading and low-price slippage.
MEXC vs Kucoin: Overall Comparison
| MEXC | KuCoin | |
|---|---|---|
| Launched | 2018 | 2017 |
| Founders | John Chen | Michael Gan |
| Headquarters | Singapore | Seychelles |
| Best for | Altcoins traders | High-volume crypto traders |
| KYC Required | No (Optional) | Yes (Mandatory) |
| Supported coins | 1630+ | 700+ |
| Security | 2FA, robust account security, anti-phishing code, PoR (Proof of Reserves) | 2FA, PoR, address whitelisting, fund password, etc. |
| Trading fee | Zero | 0.1% maker/taker |
| Deposit and withdrawal fees | No deposit fees Withdrawal fees depend on the coin | No deposit fees Withdrawal fees depend on the coin |
| Trading volume | Medium | Very High |
| Mobile App | Available for Android and iOS devices | Available for Android and iOS devices |
| Trade Now | Trade now |
MEXC vs Kucoin: Fees
Deposit Fees
MEXC and Kucoin both do not charge any fees for depositing fiat currency or crypto on their platforms. However, users may have third-party payment provider fees for fiat currency deposits (the chargeable fee depends on payment methods). Similarly, you may have to pay a network fee for the crypto transactions.
Note: MEXC has an exception for USDT (OMNI) deposits, which incurred a fee of 5 USDT.
Trading Fes
MEXC is one of the best no-fee crypto exchanges. It does not charge any fees for both maker and taker orders on spot trading. On the other hand, Kucoin charges a flat 0.1% maker and taker fees. However, Kucoin offers discounts to users who hold its native coin- KCS, and have a high 30-day trading volume. You can take a 20% fee discount with KCS tokens.
You might also interested: Top 6 Best Crypto Exchanges for Day Trading
MEXC also has very low trading for futures trading, with 0% maker and 0.01% taker fees. You can easily trade with leverage up to 200x without paying high fees. It also gives you a 10% discount on future trading fees if you’re holding MX tokens (the native token of MEXC).
Kucoin charges a maker fee of 0.02% and a taker fee of 0.06% for futures trading. Also, you may see a negative maker fee on Kucoin for higher VIP levels. This generally means the user gets paid for providing liquidity to the market.
Here is the fee structure of both crypto exchanges:
| MEXC | Kucoin | |
|---|---|---|
| Spot Trading Fees | Zero | 0.1% |
| Futures Trading Fees | Maker: 0%Taker: 0.01% | Maker: 0.02%Taker: 0.06% |
| P2P Trading Fees | Zero | Zero |
| Trade Now | Trade Now |
Withdrawal Fees
You pay withdrawal fees when withdrawing your crypto to another wallet or platform. This fee mainly depends on the crypto type and the congestion of your chosen blockchain network. MEXC and Kucoin have different withdrawal fees for different cryptos. The table below is the current withdrawal fee for some popular coins:
| MEXC | Kucoin | |
|---|---|---|
| Bitcoin (BTC network) | 0.0003 BTC | 0.0005 BTC |
| Ethereum (ERC20) | 0.0015 ETH | 0.005 ETH |
| USDT (TRC20) | 1 USDT | 1 USDT |
| XRP (Ripple) | 0.25 XRP | 0.7 XRP |
| Trade Now | Trade Now |
Regarding the withdrawal limits, Kucoin and MEXC offer different rates based on your verification level. MEXC has a higher limit for unverified accounts (non-KYC) of 30 BTC daily. You can also withdraw 80 BTC with a Primary KYC account, 200 BTC with Advanced KYC, and 400 BTC with an Institutional account.
Otherwise, Kucoin does not allow non-KYC users to withdraw any cryptocurrency. It recently announced that KYC is mandatory for all Kucoin users. With the Basic verification level, you can initiate withdrawals of up to 1 BTC in 24 hours, while an Advanced KYC account permits withdrawals of up to 200 BTC. For those with an Institutional level account, the withdrawal limit extends to 500 BTC.
Winner: MEXC is better than Kucoin, with zero trading fees and low withdrawal fees compared to the Kucoin platform.
MEXC vs Kucoin: Deposit Methods
MEXC’s Deposit Methods
- Crypto Deposits: You can deposit crypto supported by MEXC using blockchain networks like ERC20, TRC20, Bitcoin, Ripple network, Arbitrum One, etc.
- Fiat Deposits: MEXC Global accepts deposits in many fiat currencies via bank transfers, SEPA, Apple Pay, E-Wallet, Google Pay, and many other methods.
- Debit/Credit Card deposits: You can buy crypto with your Visa/Mastercard through third-party payment providers such as Simplex, Banxa, MoonPay, etc.
Kucoin’s Deposit Methods
- Crypto Deposit: It supports all blockchains, including popular ones like ERC20, Avalanche, Bitcoin, Polkadot, Arbitrum One, Optimism, etc. This method is usually instant, but you must use the right network and address for the deposit.
- Fiat Deposits: You can deposit fiat like EUR, GBP, and AUD into Kucoin via bank transfers. Depending on the currency and bank, this method may take 1-5 days to finish. It also supports other payment methods like Wise, Paypal, Zelle, Skrill, etc.
- Card Deposit: You can buy crypto with your credit or debit cards through third-party providers such as Simplex, Banxa, MoonPay, etc. This method is quick and easy but may have some fees from the providers.
Winner: Both support all major payment methods like bank transfer, credit/debit cards, SEPA, etc.
MEXC vs Kucoin: Features
MEXC Features
1. Advanced Trading Markets
MEXC is an advanced digital asset trading platform that allows you to trade various cryptocurrencies with different order types: limit, market, stop-limit, and trigger orders. You can choose between spot, margin, and derivatives trading services. MEXC also offers demo or paper trading.
- Spot trading is straightforward. You can buy or sell cryptocurrencies at the current market price or set a specific price. It suits beginners and long-term investors.
- Margin trading is more complex, involving borrowed funds for greater buying/selling power, with leverage up to 10x. It’s for experienced traders seeking short-term gains with good risk management.
- Futures trading involves contracts for buying/selling cryptocurrencies at preset prices and times, with leverage up to 200x. This is very risky, and liquidation may occur.
2. Copy Trading
MEXC is also one of the best crypto copy trading platforms. This feature allows traders to copy the strategies of other experienced traders. Expert traders can earn up to 15% of their follower’s profits as a reward for sharing their trading expertise. Followers can learn from the traders and improve their trading skills while profiting from copying their trades.
You can choose from a list of top traders with different trading styles, performances, and followers. It allows you to sort and filter the traders by various criteria, such as 7-day ROI, total profit, number of followers, etc.
You can see each trader’s detailed information and statistics, such as their trading pairs, leverage, slippage, take-profit ratio, stop-loss ratio, etc. Otherwise, MEXC also allows you to see the trader’s previous trades and reviews from other followers.
3. Savings (Staking and Earn)
MEXC Savings is a feature that lets you earn interest on your crypto assets by putting them into different staking plans. There are three plans: Flexible, Locked, and Simple Earn.
- Flexible plans offer the highest yearly returns, but please note that the interest rate can change based on market conditions. You can deposit and withdraw your assets anytime without any penalty.
- Locked plans have fixed returns, but you must HODL your assets for a certain period. You can pick from different durations, such as 7 days, 14 days, or 30 days. With this plan, you cannot withdraw your assets before the end date.
- Simple Earn plans offer stable yearly returns, but the interest rate is lower than Flexible and Locked plans.
4. Launchpad
MEXC Launchpad is an investment method that allows investors on the MEXC crypto exchange to join the token sale of new and promising projects. Users can invest in these projects by holding MX, the native token of the MEXC Exchange.
The MEXC launchpad program brings many benefits to project owners and investors. Project owners can raise money fast and safely, reach a large and active crypto community, and get support from the MEXC team, while investors can invest in promising projects, get new token rewards, and enjoy high returns.
Kucoin Features
1. Advanced Trading Options
KuCoin is a cryptocurrency exchange platform that provides various trading options, such as spot, margin, derivatives market, leveraged tokens, trading bots, and more.
With Kucoin, you can trade with more advanced and flexible order types and methods, such as limit orders, stop orders, post-only orders, iceberg orders, and time-weighted average price (TWAP) orders. It also offers instant crypto swaps.
(Note: Kucoin is offering many special promotion programs for CoinWire. Register your new account via the link below to grab the limited-time offer)
2. Staking and Earn
The staking feature requires you to lock your crypto on KuCoin to get rewards. You can pick different staking plans for different coins and tokens. Each plan has its own terms and yields.
Currently, KuCoin Earn offers 3 types of products:
- Savings: You can put your crypto in a savings account and get daily interest. You can choose flexible or fixed-term savings, depending on what you like and how much risk you can take.
- Dual Investment: You can invest in two assets simultaneously and get returns based on their price changes. You can set a target price and a maturity date for your investment and get either the base asset or the quote asset at maturity, depending on which one is worth more.
- Lend: You can lend your crypto to other users who need money and get interest fees. You can set your own interest rates and terms for your loans and have your money protected by collateral.
3. Trading Bots and Social Trading
Trading cryptocurrencies on Kucoin can be automated with particular trading algorithms. These free trading bots have five types: Spot Grid, Futures Grid, Smart Rebalance, DCA, and Infinity Grid.
Depending on the strategy you set on the trading algorithms, you can profit from price changes in both directions. The user decides the price limits, strategy, and investment amount. Kucoin trading bots are simple to use and have an AI-based strategy suggestion. These are similar to AI stock trading tools.
Kucoin is also a part of the crypto social trading revolution, where users can see and copy other traders’ strategies.
MEXC vs Kucoin: Number of Cryptocurrencies
MEXC has more than 1630 tokens and 1900 trading pairs. You will find most big cryptocurrencies, such as BTC, ETH, LTC, SHIB, XRP, DOGE, ADA, etc. MEXC crypto exchange is also popular for low market-cap altcoins and new projects on its launchpad.
About Kucoin, this cryptocurrency exchange also supports over 700 digital assets and 1250 trading pairs, including many newly launched tokens.
Winner: MEXC is better than Kucoin because MEXC offers more coins and tokens for trading than the Kucoin exchange.
MEXC vs Kucoin: Security
MEXC uses leading industry technology to ensure the whole system and users’ assets are safe and private. This exchange keeps users’ assets in separate cold wallets. It also uses multisig, advanced private key management, and a trusted computing environment.
Here are some of MEXC’s security measures:
- Two-factor authentication (2FA)
- Withdrawal addresses whitelisting
- Anti-phishing codes
- Regular security audits and login device management
- PoR audits to show asset transparency
Kucoin also offers industry-leading security measures as MEXC. Kucoin works with top international companies (PCI DSS and CyberSource CCXT) to build a strong security plan. This trading platform also provides monthly Merkle Tree PoR audits to verify the accuracy of its reserve assets. Recently, KuCoin has made it mandatory for all users to undergo know-your-customer (KYC) procedures to comply with regulatory requirements worldwide.
Some security features of Kucoin:
- Two-factor authentication (2FA)
- Cold Storage
- Web Application Firewall (WAF)
- Regular Security Audits
- Withdrawal Whitelists
- Anti-Phishing Code
- API Security
- Dynamic Trading Password
Kucoin Hack: In September 2020, Kucoin had a big hack that caused the loss of more than $275 million in crypto from its hot wallets. The hackers stole Bitcoin, Ethereum, and other tokens. But, it pays back users who lost funds using its cold wallets.
Winner: MEXC is better than Kucoin. Although both exchanges are highly secure and offer multi-layer security measures, MEXC has a slight edge and a better reputation due to past track records.
MEXC vs Kucoin: Customer Support
Both MEXC and Kucoin have various customer support service channels. They have 24/7 customer support available by email or their website ticketing service. The exchanges also have a helpful FAQ section on their websites.
However, Kucoin’s rating is only 1.5/5 on Trustpilot, and many users say that customer support is slow or useless. They feel like they are talking to a robot, not a human. On the other hand, MEXC also has poor ratings on Trustpilot (2.1/5), and users complain about the unusual coin prices on the exchange.
Winner: MEXC is better than Kucoin (based on the rating review on Trustpilot). Although these two exchanges get pretty low scores, the main reason for the low rating of MEXC is other reasons (UX-UI, supported tokens), not the customer support service.
Who Should Pick MEXC
You should pick MEXC, if:
- You want to trade with zero fees: MEXC has zero fees for crypto trading. You can trade for free on the spot and futures markets (makers only) and get discounts and rebates with MX tokens.
- You want to access various altcoins: You can trade over 1630 cryptocurrencies and 1900 trading pairs, including spot, margin, leveraged ETFs, futures, options, and perpetual contracts. Otherwise, you can join new projects on MEXC’s Kickstarter platform, which offers voting, listing, and airdrop benefits.
- You do not want to undergo KYC verification: MEXC is a popular no-KYC exchange that allows trading without ID verification. You can trade privately and anonymously.
Who Should Pick Kucoin
You should pick Kucoin, if:
- You want high-volume trading without price slippage: According to CoinMarketCap, Kucoin is in the top 10 high-volume crypto exchanges. Its daily trading volume is above $300 million. So, you can trade coins with high liquidity and zero price slippage.
- You want mandatory KYC: KYC is necessary to prevent money laundering and frauds. With strict KYC verification, you can trust KuCoin to safeguard your digital assets.
- You want a user-friendly interface with advanced features: You can easily use KuCoin’s easy-to-use and intuitive interface to trade crypto. You can also access advanced features such as trading bot, leveraged tokens, margin trading, and crypto derivatives on its platform.
(Kucoin is offering many special promotion programs for CoinWire. Register your new account via the link below to grab the limited-time offer)
Conclusion: Is MEXC better than Kucoin?
To sum up Kucoin vs MEXC, MEXC is better in terms of privacy because it allows unverified users to trade on its platforms and withdraw funds. It also has very low trading fees compared to Kucoin.
Kucoin caters to more advanced traders with its more user-friendly interface and many advanced features like automated trading bots, dual investment, and an NFT marketplace.
Your choice between them depends on what you’re looking for. If you want anonymity and zero-fee trading, go for MEXC. If you want to explore advanced trading tools and perform high-volume trading, go for Kucoin.
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FAQs
Is MEXC a reliable exchange?
Yes, MEXC is a reliable exchange that started in 2018, with around 10 million users from more than 170 countries. It has no trading fees and supports many crypto trading pairs to trade. MEXC is easy to use, and you don’t need to verify your identity.
MEXC has many trading options and tools for traders of all levels. It also cares about its customers and their privacy by providing advanced security measures.
What are Kucoin margin trading fees?
Kucoin margin trading fees are the same as spot trading (0.1% maker and taker). This exchange is one of the best margin trading platforms. It lets you trade with up to 5x leverage.
What are MEXC withdrawal fees?
MEXC withdrawal fees are variable. The amount of fees depends on the crypto and the network you choose. For example, the withdrawal fee for Bitcoin is 0.0003 BTC on the BTC network, but it is 0.00001 BTC on the BEP20 network.
You can see the complete list of withdrawal fees and limits on the MEXC website.
Is MEXC legal in the USA?
No, MEXC is not legal to operate in the USA, according to its User Agreement. However, due to its no-KYC trading feature, you can still use it with a VPN for crypto-to-crypto trading. But, you should also be aware of the legal issues of using a non-regulated platform in your country.
Is Kucoin available in the US?
No, Kucoin is not available in the US. You can not use it with VPN or for crypto-to-crypto trading (because KYC is also mandatory on Kucoin).
