Search
CloseOpen
Kucoin vs Binance
Back to blog categories

Kucoin Vs Binance

Kucoin and Binance are two of the most popular and rapidly growing cryptocurrency exchange markets at the moment. They both offer similar features and services, but some notable differences make these exchanges different from each other. In this article, we'll be comparing these two exchanges, and by the end of this comparison, you should have a good idea of which business will work best for your needs.

About Kucoin

KuCoin is a global cryptocurrency exchange that makes it easy to buy, sell and store cryptocurrencies and digital assets. The platform was launched in 2017 and now has over eight million registered users from 200+ countries.

The platform supports over 500 cryptocurrencies, including popular coins like Bitcoin, Ethereum, and Litecoin. It also has a user-friendly interface which makes trading easier for beginners.

Besides offering support for a wide range of currencies, Kucoin offers relatively low fees compared to other exchanges. Users can expect to pay anywhere between 0.0125% and 0.10% per trade. 

Although KuCoin is available in over 200 countries, KuCoin is not licensed in the United States, so users in the US should consider other options. Here are some other popular Binance alternatives.

About Binance

Binance is the most popular cryptocurrency exchange at the moment. Binance offers over 600 cryptocurrencies that you can trade against, including Bitcoin, Ethereum, Litecoin, and its native Binance Coin. Although Binance is available in over 180+ countries, only 65 of these cryptocurrencies are available to buy and sell in the United States, but through a different platform - Binance US.

Binance charges a flat 0.1% fee on all trades, which is one of the lowest rates in the market. A more significant advantage for this platform is that it rewards traders who use its native BNB token for paying transaction fees with a 25% reduction in trading fees.

Kucoin vs. Binance: Fees

Kucoin has significantly lower fees than most exchanges, with trading fees ranging from 0.0125%-0.1%. They also have discounts for holding their native token, Kucoin shares. In addition to trading fees, KuCoin also charges withdrawal fees that vary based on the market. Deposits are free when using this exchange, but it's also crucial to know that they offer limited options for fiat deposits at this time.

Binance also has some of the lowest trading fees in the industry. While users in the US will pay slightly more to use Binance, their fees are still competitively low. Binance charges a 0.1% trading fee on all trades, but they have implemented their "Binance Coin," which you can use to reduce your fees by 25%. 

Binance users are also subject to various withdrawal and payment fees. Binance will not charge you for deposit fees, but they charge a flat fee to cover the transaction costs of moving cryptocurrency out of an account for each withdrawal. 

Withdrawals rates are not fixed but are determined by the market and can fluctuate without notice. You can always check their most recent data listed on their withdrawal page.

Kucoin vs. Binance: Available Coins

Kucoin has a better variety of coins that traders can buy and sell. Their platform currently supports over 500 cryptocurrencies, including popular coins like Bitcoin, Ethereum, and Litecoin. They are all significant cryptocurrencies in high demand by the crypto community. You will not have a problem finding a buyer or seller if you wish to trade cryptocurrencies on Kucoin.

Binance currently has over 600 cryptocurrencies available for trade, but only 65 are available in the US. For international users, they also support fiat currencies, including EUR, USD, AUD, and GBP. 

Crypto Wallet

Both Binance and KuCoin have built-in wallets that allow users to make deposits and withdrawals without the need for third-party wallets. This provides an added layer of security to the overall trading process on both platforms.

Both wallets are fast and secure, but KuCoin generally has a faster service due to the larger scale of the website.

Security

Both KuCoin and Binance have excellent reputations for being safe and secure platforms. Both platforms include two-factor authentication (2FA) via the Google Authenticator app or via SMS. 

The only difference is KuCoin offers users a separate password for trading. This password is an additional layer of security aside from the regular login information and is required to make trades or withdraw assets.  

Ease of Use

Both KuCoin and Binance have straightforward interfaces, making them easy to use for beginners. Both Binance and KuCoin have a mobile app, which allows for more convenient access to your user interface – even when on the go. 

Setting up accounts on both platforms is simple, and the only challenge users will face is learning how to trade crypto. Fortunately, both platforms provide support for this with tutorials and in-depth blog articles. 

Other Features

Both platforms provide loan services, where users can borrow money and use cryptocurrency assets. They both support the borrowing of several cryptos, including BUSD and USDT, and the interest rates are determined by the time you make the loan.

Another feature worth mentioning is that Binance allows users to buy NFTs on their Binance NFT Marketplace. Unfortunately, it is impossible to purchase NFTs on KuCoin. However, KuCoin announced in January 2022 that it would be providing an NFT platform soon. 

Conclusion

There are tons of cryptocurrency exchanges that you can use to buy and sell cryptocurrency. However, there are only a few that stand out from the crowd. 

KuCoin is an excellent exchange to use as it has low fees and has access to over 500 different cryptocurrencies. The only downside is they are not licensed in the United States, so users in the US should consider other options. Binance is another cryptocurrency exchange with low costs and an excellent user interface.  

Both exchanges are safe and secure to use, and the decision on where to buy your crypto will probably come down to which exchange offers the coin you want, the lowest fees, or any other unique feature they may have.

If you're interested in either of these platforms and want to get some more details, don't forget to check out our KuCoin and Binance individual review pages.

If neither platform matches your needs, go to our crypto exchange comparison tool. Our algorithm will show you the best cryptocurrency exchange for you by answering a few questions

Back to blog categories