Comparison of Binance vs Kucoin [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Binance vs Kucoin comparison!

Your expert: Alejandro Borja

Binance

Your expert: Xavier Tarrasó

Kucoin

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

≈ 0,10%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

5.0 – The industry standard for low trading fees and discounts.

4.3 – Competitive fees with additional rewards for using the native token.

Level

≤0,10%

≈ 0,10%

Brief explanation

Binance, one of the world’s leading cryptocurrency exchanges, is renowned for its competitive and highly favorable commission structure. The standard trading fee on Binance is notably low, starting at just 0.1% for both makers and takers. This fee can be further reduced for users who pay using Binance’s native token, Binance Coin (BNB), which offers a discount, enhancing the utility and attractiveness of holding and using BNB within the ecosystem. Additionally, Binance rewards high-volume traders with a tiered fee structure, which lowers fees significantly as a user’s trading volume increases, dropping the fees to as low as 0.015% for makers and 0.03% for takers at the highest tiers.

KuCoin is renowned for its competitive and appealing fee structure, which is a major draw for traders. The exchange operates on a tiered fee system based on the 30-day trading volume, where fees are reduced as trading volume increases. Typical trading fees start at 0.1% for both makers and takers, which is already lower than many other exchanges. Additionally, users can enjoy further discounts on these fees by holding and using KuCoin’s native token, KuCoin Shares (KCS), to pay for trading fees. This incentivizes both higher trading volumes and the use of KCS within the platform, making it economically beneficial for frequent traders and KCS holders alike. Such a fee structure not only enhances trading profitability but also promotes greater liquidity on the platform.

Binance

Security Methods: Binance employs a comprehensive range of security measures, including two-factor authentication (2FA), SSL encryption, and cold storage of the majority of user funds. These methods ensure a high level of security that protects users against potential cyber threats and unauthorized access.
Trading Volume and Liquidity: Binance boasts one of the highest trading volumes among cryptocurrency exchanges worldwide. This high volume ensures excellent liquidity, making it easier for users to execute trades quickly and at desired prices, even for large orders.
Reputation and Reviews: Over the years, Binance has built a solid reputation in the cryptocurrency community. It is highly regarded for its robust platform, innovative features, and responsive customer service. User reviews often highlight the platform's reliability and the breadth of resources available to traders.
Transparency: Binance is known for its transparency in operations, particularly in how it handles updates and communicates with its user base during both regular operations and in crisis situations. This transparency builds trust and ensures users are well-informed about their investments and the platform's practices.
Withdrawal and Deposit Policies: Binance offers clear and user-friendly withdrawal and deposit policies, with a variety of payment methods available. These policies are structured to facilitate easy access to funds while maintaining tight security to prevent any fraudulent activity.

Kucoin

Year Founded: Established in 2017, KuCoin has quickly grown to become one of the major players in the cryptocurrency exchange market. Its rapid growth and sustained operation over the years demonstrate its resilience and ability to adapt to the evolving crypto landscape.
Number of Users: KuCoin boasts a substantial user base, with over 8 million traders worldwide. This extensive community not only underscores the exchange's popularity but also enhances its liquidity, making it a reliable platform for executing trades efficiently.
Security Methods: Following the 2020 security breach, KuCoin significantly upgraded its security measures, implementing multi-layer encryption, enhanced authentication methods, and segregated customer wallets. These robust security protocols help in safeguarding user funds against potential threats.
Trading Volume and Liquidity: KuCoin is known for its high trading volume, which ensures liquidity across its numerous trading pairs. This liquidity is crucial for users to execute large trades quickly and at desired prices without substantial price slippage.
Reputation and Reviews: Despite the challenges, KuCoin has maintained a strong reputation within the crypto community. The platform is well-regarded for its wide range of services, competitive fees, and responsive customer support. Positive reviews from users across various forums highlight its usability and the effectiveness of its customer service team.

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Account Minimum

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Product selection

Native token

Token BNB

Token KCS (KuCoin Shares)

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Binance Holdings Limited

Mek Global Limited

Regulation

Not regulated, but faces regulatory scrutiny in several countries.

Not regulated

Year founded

2017

Founder

Changpeng Zhao (CZ)

Michael Gan

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance	FEATURES	Kucoin
Binance allows trading with small amounts, accommodating users who wish to start with minimal investments.	Minimum Trade	KuCoin allows users to trade with small amounts, making it accessible for beginners or those trading on a budget.
Binance offers some of the lowest fees in the industry, with further reductions available when using Binance Coin (BNB).	Trading and Transaction Fees	KuCoin offers competitive fees, with low transaction costs compared to other exchanges.
Supports a broad selection of over 500 cryptocurrencies, catering to a wide range of trader interests.	Number of Cryptocurrencies	Supports over 600 cryptocurrencies, providing a wide range of options for traders.
Extensive offering of crypto-to-crypto trading pairs, providing users with great flexibility and trading options.	Crypto-to-Crypto Trading Pairs	Offers a vast array of trading pairs, enhancing trading flexibility and opportunities.
The website provides detailed information about fees and policies although some users might find it overwhelming due to the sheer amount of data.	Website Transparency	While generally transparent, improvements could be made in regulatory and security disclosures.
Binance Card offers seamless crypto-to-fiat conversion with up to 8% cashback on purchases, making it a top choice for crypto users.	Credit/Debit Card	The Kucoin card has a wide range of services, providing convenience and accessibility for in-store purchases, while facilitating the conversion of cryptocurrency to fiat money. It also provides cashback and other benefits. This feature enhances the user experience by expanding the possibilities of using cryptocurrencies in everyday life.
Offers secure storage options with an integrated wallet that supports both cold and hot storage methods.	Storage Offering	Provides secure storage with advanced security features, though not as comprehensive as some specialized wallets.
Provides competitive staking options and rewards, enhancing user engagement and investment returns.	Staking and Rewards	Offers competitive staking options and rewards, but not as extensive as some exclusively staking platforms.
Both the mobile app and desktop platforms are highly intuitive and fully-featured, suitable for traders of all experience levels.	Mobile App and Desktop	Both platforms are well-designed, intuitive, and offer full trading functionality.
Offers multiple channels for support; however, response times can vary, sometimes leading to delays.	Customer Service	Responsive and helpful, but sometimes experiences delays during peak times.
Binance facilitates easy and fast deposits and withdrawals, though some users have reported delays with fiat withdrawals.	Deposit and Withdraw	Supports multiple deposit and withdrawal methods with relatively quick processing times.

Key features

Analysis tools

Advanced charting tools, a wide range of technical indicators

Advanced charting tools, technical indicators

Mobile APP

Yes

Security

High 4,9/5

Additional features

Futures trading, margin trading, staking, Binance Launchpad, Binance Earn, BNB token rewards

Margin trading, futures trading, staking, KuCoin Earn

Anonymity

Yes

Key points

Available cryptocurrencies

500+

400+

User-friendliness

Binance is a highly popular platform known for its comprehensive features and user-friendly interface. While it offers advanced tools for experienced traders, its basic version remains accessible and easy to use for beginners.

KuCoin offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Offers excellent value for money with some of the lowest trading fees in the industry and a vast array of supported cryptocurrencies and features.

Provides good value for money with competitive fees, a wide range of supported cryptocurrencies, and additional earning opportunities.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Perfect for all types of investors, from beginners to advanced traders, due to its low fees, vast array of cryptocurrencies, and extensive features.

Ideal for traders of all experience levels looking for a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, BTC, ETH, BNB, USDT

USD, BTC, USDT

Account

Trading

Binance is one of the largest and most popular exchanges, offering a vast selection of cryptocurrencies, advanced trading features, and high liquidity. Its security measures are top-notch. However, the platform can be overwhelming for beginners.

KuCoin provides a wide range of cryptocurrencies and competitive fees. It offers advanced trading tools and a user-friendly interface, making it suitable for both beginners and experienced traders.

Deposit and withdrawal

Binance supports a wide range of deposit methods, including bank transfers, credit/debit cards, and a variety of cryptocurrencies. Withdrawals are processed quickly, usually within a few hours, with minimal fees .

KuCoin offers multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, usually within a day, with low fees.

Account opening process

Binance offers a seamless account opening process. Users need to provide personal information, complete KYC verification with identity documents, and typically get their account approved within a few hours to a day. It’s secure and efficient.

KuCoin provides an easy and fast account opening process. Users need to provide personal information and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes

Customer Service

Binance provides extensive customer support through email, live chat, and a detailed help center. Support is available 24/7, and the response times are quick, making it reliable for users globally.

KuCoin provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

Security

Binance employs comprehensive security measures, including 2FA, SSL encryption, and cold storage. It is regulated by several financial authorities and has a strong track record, making it a secure choice for investors .

KuCoin provides robust security with 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

As an expert in the crypto market, I highly recommend Binance for its comprehensive range of features and user-friendly interface. The Binance Card, in particular, stands out by allowing seamless crypto-to-fiat conversions and offering up to 8% cashback on purchases, making it an excellent choice for both new and experienced crypto enthusiasts. Its security measures and vast selection of cryptocurrencies further enhance its appeal.

Xavier Tarrasó

In concluding our comprehensive review of KuCoin as part of Threenvest’s analysis, it’s evident that KuCoin stands out as a formidable player in the global cryptocurrency market. With an expansive array of over 700 cryptocurrencies available for trade and a presence in over 200 countries, KuCoin offers a rich trading experience that caters to both novice traders and seasoned investors. The platform’s strength lies in its extensive selection of trading options which includes spot, margin, and futures trading, alongside advanced features like leveraged tokens and a robust API that appeals to a technologically savvy clientele. However, KuCoin’s lack of formal regulatory oversight in significant markets like the U.S. poses a considerable limitation, reflecting a critical area where it trails behind competitors that boast strong regulatory frameworks. From Threenvest’s perspective, while KuCoin demonstrates robust security measures and a commitment to user safety, exemplified by its recovery actions during the 2020 security breach, potential users should weigh these against the absence of regulatory assurances that can offer additional layers of protection. The platform’s innovative approach to customer service, extensive educational resources, and competitive fee structure further solidify its position as a top choice for users looking to explore the crypto space. However, the challenges associated with regulatory uncertainties and potential geo-restrictions should be carefully considered by anyone looking to engage with KuCoin. Overall, KuCoin’s offerings make it a worthy consideration for those seeking a comprehensive and dynamic trading platform, provided they are comfortable with the associated risks and limitations highlighted in this review.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.