Comparison of Kucoin vs Bithumb [ 2024 ]

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

Your expert: Alejandro Borja

Kucoin

Your expert: Xavier Tarrasó

Bithumb

Main points

Fees

≈ 0,10%

Earns

Customer service

4/5

0,10%/0,15%

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.

3.9 – Competitive fees but variable depending on the trading volume.

Level

≈ 0,10%

0,10%/0,15%

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.

Bithumb structures its trading fees to accommodate both high-volume traders and casual users, making it an attractive platform for a broad range of investors. The fee system is tiered, based on the user’s 30-day trading volume, which incentivizes frequent trading and higher volumes. Fees start relatively low compared to industry averages, with maker fees often being lower than taker fees, which benefits those who add liquidity to the market. This structure not only supports active traders but also ensures that the exchange remains competitive and accessible to newcomers. The clarity and competitiveness of these fees contribute significantly to Bithumb’s appeal in the global crypto trading landscape.

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.

Bithumb

Year Founded: Established in 2014, Bithumb has a long-standing presence in the cryptocurrency market. This longevity signifies stability and experience in handling a dynamic and sometimes volatile market, providing a solid foundation of trust among its users.
Security Methods: Bithumb has implemented robust security measures, including multi-layered security systems and regular updates to safeguard against new types of cyber threats. These rigorous security practices help ensure the safety of user funds and personal information.
Volume Managed and Trading Volume and Liquidity: Bithumb consistently ranks among the top exchanges globally in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and reliability of the platform in the eyes of a large user base.
Reputation and Reviews: The exchange has built a solid reputation over the years, backed by positive reviews from many of its users. This reputation is supported by Bithumb's responsiveness to past challenges and its ongoing commitment to improve user experience and security.
Customer Service: Bithumb offers extensive customer support with 24/7 access, including real-time assistance for resolving issues. Effective customer service enhances user trust by ensuring that assistance is readily available whenever needed, which is crucial in the fast-paced environment of cryptocurrency trading.

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Direct link to the website

Product selection

Native token

Token KCS (KuCoin Shares)

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Mek Global Limited

Bithumb Korea Co., Ltd.

Regulation

Not regulated

Regulated in Corea del Sur

Year founded

2017

2014

Founder

Michael Gan

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Kucoin	FEATURES	Bithumb
KuCoin allows users to trade with small amounts, making it accessible for beginners or those trading on a budget.	Minimum Trade	Bithumb allows relatively low minimum trades, accessible for beginners.
KuCoin offers competitive fees, with low transaction costs compared to other exchanges.	Trading and Transaction Fees	Fees are competitive but can be complex and vary by transaction type.
Supports over 600 cryptocurrencies, providing a wide range of options for traders.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, catering to diverse trader needs.
Offers a vast array of trading pairs, enhancing trading flexibility and opportunities.	Crypto-to-Crypto Trading Pairs	Provides a substantial number of trading pairs, enhancing trading options.
While generally transparent, improvements could be made in regulatory and security disclosures.	Website Transparency	Generally transparent but could improve in detailing fee structures.
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	Bithumb does not provide an exchange card for in-store purchases or associated benefits, which limits its utility for everyday transactions compared to some other exchanges offering this feature.
Provides secure storage with advanced security features, though not as comprehensive as some specialized wallets.	Storage Offering	Provides secure storage options with advanced security features.
Offers competitive staking options and rewards, but not as extensive as some exclusively staking platforms.	Staking and Rewards	Offers competitive staking options and rewards for users.
Both platforms are well-designed, intuitive, and offer full trading functionality.	Mobile App and Desktop	Excellent user interface on both mobile and desktop platforms.
Responsive and helpful, but sometimes experiences delays during peak times.	Customer Service	Exceptional customer support with 24/7 availability and multiple languages.
Supports multiple deposit and withdrawal methods with relatively quick processing times.	Deposit and Withdraw	Efficient processes, though some users report delays during high traffic.

Key features

Analysis tools

Advanced charting tools, technical indicators

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, KuCoin Earn

Margin trading, staking, Bithumb Cash rewards, institutional services

Anonymity

Yes

Key points

Available cryptocurrencies

400+

150+

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.

Bithumb provides a straightforward and user-friendly interface, making it easy for beginners to start trading cryptocurrencies. The platform’s design is clean and intuitive, facilitating a smooth trading experience.

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 competitive fees and a wide selection of cryptocurrencies, though it may face regulatory challenges in some regions.

Countries of operation

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

South Korea, United States, Canada, Australia, United Kingdom

Best for

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

Best for South Korean traders looking for a platform with a wide selection of cryptocurrencies and competitive fees.

Base currencies available

USD, BTC, USDT

KRW, 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.

Bithumb is one of South Korea’s largest exchanges, offering high liquidity and a wide range of cryptocurrencies. However, it has faced security issues in the past, which could be a concern for users.

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.

Bithumb offers various deposit methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive but can vary depending on the method used.

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.

Bithumb provides a straightforward account opening process. Users need to submit personal information and verify their identity. The process is efficient and typically completed within a day, ensuring quick access to trading.

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.

Bithumb offers customer support through email, live chat, and a help center. The support team is responsive, but the lack of 24/7 availability may be a limitation for some users.

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.

Bithumb offers robust security features, including 2FA, cold storage, and encryption. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could 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 an expert on our website, I recommend Bithumb for traders looking for a robust platform with a wide selection of cryptocurrencies and high liquidity. Its user-friendly interface makes it accessible for beginners, while the depth of its market and security measures provides peace of mind. However, potential users should be aware of its complex fee structure and ensure they understand the costs associated with trading on this platform. Overall, Bithumb is a solid choice for those looking to dive into the dynamic world of cryptocurrency 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.