Comparison of Kucoin vs Bitmart [ 2024 ]

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

Your expert: Alejandro Borja

Kucoin

Your expert: Xavier Tarrasó

Bitmart

Main points

Fees

≈ 0,10%

Earns

Customer service

4/5

0.09%/0,25%

Fees

Yes

Earns

3/5

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.

4.0 – Reasonable fees with some additional costs for specific services.

Level

≈ 0,10%

0.09%/0,25%

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.

BitMart’s commission structure is designed to be competitive within the cryptocurrency exchange market. The platform utilizes a tiered fee system based on trading volume, which encourages more frequent trading by reducing costs for high-volume traders. Generally, the fees for makers, who add liquidity to the market, are lower than for takers, who take liquidity away. This fee structure not only supports liquidity but also rewards users who contribute to the market dynamics. While specific percentages vary, they are kept transparent on the platform, ensuring traders can plan their transactions with clarity regarding potential costs.

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.

Bitmart

Security Methods: BitMart employs comprehensive security measures to protect user assets and data. These include two-factor authentication, advanced encryption technology, and the majority of funds held in cold storage. These stringent security protocols demonstrate BitMart's commitment to maintaining a secure trading environment.
Reputation and Reviews: BitMart has built a solid reputation within the crypto community for its robust platform and reliable service. Positive user reviews frequently highlight the platform's user-friendly interface and the wide variety of trading options available, reinforcing its standing in the market.
Trading Volume and Liquidity: BitMart handles a significant volume of daily trades, ensuring high liquidity across its various trading pairs. This high trading volume is indicative of a vibrant marketplace that allows users to execute trades efficiently without substantial price slippage.
Year Founded: Established in 2017, BitMart has several years of operation under its belt, during which it has continuously evolved and improved its offerings. This longevity in the fast-paced world of cryptocurrency exchanges speaks to its resilience and the trust placed in it by its users.
Customer Service: While there have been challenges with response times, BitMart's dedication to improving its customer service is evident. They are actively working to enhance their support mechanisms to provide timely and effective help to their users, which is a critical component of 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

GBM Foundation Company

Regulation

Not regulated

Year founded

2017

Founder

Michael Gan

Sheldon Xia

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Kucoin	FEATURES	Bitmart
KuCoin allows users to trade with small amounts, making it accessible for beginners or those trading on a budget.	Minimum Trade	BitMart offers a relatively low minimum trade amount, making it accessible for beginners to start trading without significant capital.
KuCoin offers competitive fees, with low transaction costs compared to other exchanges.	Trading and Transaction Fees	Fees are competitive, but could be improved to match lower rates offered by some other exchanges.
Supports over 600 cryptocurrencies, providing a wide range of options for traders.	Number of Cryptocurrencies	BitMart supports a wide array of cryptocurrencies, providing users with a diverse range of trading options.
Offers a vast array of trading pairs, enhancing trading flexibility and opportunities.	Crypto-to-Crypto Trading Pairs	Offers a substantial number of crypto-to-crypto trading pairs, allowing for versatile trading strategies.
While generally transparent, improvements could be made in regulatory and security disclosures.	Website Transparency	The website provides essential information; however, more detailed disclosures about security practices and fund management could enhance transparency.
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	BitMart does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Provides secure storage with advanced security features, though not as comprehensive as some specialized wallets.	Storage Offering	Provides secure storage options with the majority of assets held in cold storage, though past security breaches have impacted their score.
Offers competitive staking options and rewards, but not as extensive as some exclusively staking platforms.	Staking and Rewards	Offers competitive staking options and rewards, appealing to users looking to earn through their crypto assets.
Both platforms are well-designed, intuitive, and offer full trading functionality.	Mobile App and Desktop	Both mobile and desktop platforms are highly user-friendly and feature-rich, providing a seamless trading experience.
Responsive and helpful, but sometimes experiences delays during peak times.	Customer Service	Customer support is available, but response times can be slow. More resources towards improving service responsiveness are needed.
Supports multiple deposit and withdrawal methods with relatively quick processing times.	Deposit and Withdraw	BitMart offers multiple deposit and withdrawal methods, but improvements could be made in processing times and fee structures for withdrawals.

Key features

Analysis tools

Advanced charting tools, technical indicators

Basic charting tools, some advanced features for futures

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, KuCoin Earn

Futures trading, staking, lending services, BitMart token (BMX) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

400+

200+

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.

BitMart features an easy-to-use platform with a simple interface that is suitable for beginners. The exchange provides a seamless trading experience with all necessary features easily accessible.

Value for money

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

Provides good value for money with low trading fees and a diverse range of supported cryptocurrencies, making it a cost-effective option for traders.

Countries of operation

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

United States, South Korea, Japan, China, Singapore

Best for

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

Suitable for traders of all experience levels who want access to a diverse range of cryptocurrencies and low trading fees.

Base currencies available

USD, BTC, USDT

USD, BTC, ETH, USDT

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.

BitMart is a global exchange with a good variety of cryptocurrencies and competitive fees. It offers advanced trading options but has faced some security and regulatory challenges.

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.

BitMart provides diverse deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, typically within a day. Fees are reasonable, enhancing user experience.

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.

BitMart offers an easy and fully digital account opening process. Users need to provide personal details and verify their identity. The process is usually quick, 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.

BitMart provides support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support can be inconvenient for users needing immediate 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.

BitMart provides strong security with 2FA, SSL encryption, and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

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 BitMart for traders who value a wide selection of cryptocurrencies and robust trading platforms. While the exchange offers strong security measures and diverse trading options, potential users should be aware of the historical security breaches and occasionally slow customer service. Overall, BitMart provides a user-friendly experience with competitive trading fees, making it a solid choice for both beginners and experienced traders looking to expand their crypto portfolios.

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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.