Comparison of Kucoin vs Bybit [ 2024 ]

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

Your expert: Alejandro Borja

Kucoin

Your expert: Xavier Tarrasó

Bybit

Main points

Fees

≈ 0,10%

Earns

Customer service

4/5

≤0,10%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

4.1 – Low fees with a focus on derivatives trading.

Level

≈ 0,10%

≤0,10%

Brief explanation

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.

Bybit’s commission structure is designed to be competitive and appealing to both high-volume traders and occasional participants. The platform primarily charges two types of fees: maker fees and taker fees. The maker fee can reward users for adding liquidity to the market, typically set below the industry average, while the taker fee is slightly higher due to the nature of removing liquidity. For trading derivatives such as perpetual contracts, Bybit charges a taker fee of 0.075% and provides a maker rebate of 0.025%, which means makers actually earn a credit for executing trades. This fee structure is particularly attractive to those who trade frequently or utilize trading bots to maintain liquidity on the exchange. Overall, Bybit’s fee strategy supports a dynamic trading environment, encouraging both the provision and taking of liquidity while keeping costs transparent and manageable for traders of all levels.

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.

Bybit

Security Methods: Bybit employs robust security practices, including cold storage for digital assets, real-time risk audits, and two-factor authentication (2FA) to protect user accounts and funds. This comprehensive approach ensures a secure trading environment.
Reputation and Reviews: Since its inception, Bybit has maintained a strong reputation within the crypto community for its reliability, advanced trading features, and user-friendly interface. Positive reviews across various forums and its low incident of security breaches contribute to its credibility.
Trading Volume and Liquidity: Bybit is known for its deep liquidity and high trading volume, facilitating seamless execution of trades without significant slippage, even during volatile market conditions. This is crucial for traders looking to execute large orders.
Transparency: Bybit provides clear and detailed information on trading fees, funding rates, and insurance funds. It regularly publishes updates about system upgrades and security enhancements, demonstrating transparency in operations and communications with its users.
Customer Service: Bybit offers 24/7 customer support with a multilingual team accessible via live chat, email, and social media. This constant availability ensures that user queries and issues are resolved promptly, enhancing user trust and satisfaction.

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Product selection

Native token

Token KCS (KuCoin Shares)

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Mek Global Limited

Bybit Fintech Limited

Regulation

Not regulated

Year founded

2017

2018

Founder

Michael Gan

Ben Zhou

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Kucoin	FEATURES	Bybit
KuCoin allows users to trade with small amounts, making it accessible for beginners or those trading on a budget.	Minimum Trade	Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.
KuCoin offers competitive fees, with low transaction costs compared to other exchanges.	Trading and Transaction Fees	Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.
Supports over 600 cryptocurrencies, providing a wide range of options for traders.	Number of Cryptocurrencies	Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.
Offers a vast array of trading pairs, enhancing trading flexibility and opportunities.	Crypto-to-Crypto Trading Pairs	Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.
While generally transparent, improvements could be made in regulatory and security disclosures.	Website Transparency	The website provides clear and detailed information about trading conditions, fees, and security measures.
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.	Credit/Debit Card	Bybit does not offer a branded exchange card for in-store purchases or benefits, limiting its functionality in terms of everyday financial transactions.
Provides secure storage with advanced security features, though not as comprehensive as some specialized wallets.	Storage Offering	Offers secure storage solutions with a majority of funds kept in cold storage, though it lacks some advanced features found in specialized wallets.
Offers competitive staking options and rewards, but not as extensive as some exclusively staking platforms.	Staking and Rewards	Offers basic staking features but is not as competitive as other platforms that provide higher yields and more variety in staking options.
Both platforms are well-designed, intuitive, and offer full trading functionality.	Mobile App and Desktop	Both the mobile app and desktop platform are highly rated for user interface design and functionality, catering well to both beginner and advanced traders.
Responsive and helpful, but sometimes experiences delays during peak times.	Customer Service	Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.
Supports multiple deposit and withdrawal methods with relatively quick processing times.	Deposit and Withdraw	Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.

Key features

Analysis tools

Advanced charting tools, technical indicators

Advanced charting, technical analysis tools, and derivatives trading features

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, KuCoin Earn

Futures trading, perpetual contracts, staking, Bybit Earn program

Anonymity

Yes

Key points

Available cryptocurrencies

400+

Primarily derivatives, but around 100 cryptocurrencies

User-friendliness

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.

Bybit offers a user-friendly platform that is easy to navigate, with a focus on derivatives trading. The interface is designed to be accessible to both beginners and experienced traders.

Value for money

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

Offers good value for money with low trading fees and advanced trading features, suitable for both retail and institutional traders.

Countries of operation

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

Singapore, Japan, South Korea, United States, Canada

Best for

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

Great for both retail and institutional traders interested in derivatives trading with low fees and advanced features.

Base currencies available

USD, BTC, USDT

USD, USDT, BTC

Account

Trading

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.

Bybit is known for its derivatives trading and leverage options. It offers advanced trading tools and high liquidity but is not suitable for beginners due to its complexity and risk.

Deposit and withdrawal

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

Bybit supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, usually within a few hours, with low fees.

Account opening process

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.

Bybit offers a seamless and fully digital account opening process. Users need to fill out personal information and verify their identity. The process is quick, typically taking less than a day to complete.

KYC required?

Yes

Customer Service

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.

Bybit provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Security

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.

Bybit provides robust security features 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

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.

Xavier Tarrasó

As one of the experts here at Threenvest, I’d like to share a brief recommendation about using Bybit. Bybit offers a robust platform that caters well to experienced traders looking for advanced trading options in the crypto derivatives market. Its high-performance trading engine ensures rapid execution of trades, which is crucial during volatile market conditions. If you’re comfortable with high leverage and complex trading instruments, Bybit can be a powerful tool in your trading arsenal. However, beginners should tread carefully, given the platform’s complexity and the inherent risks of leveraged trading.

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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.