Binance is the world’s largest cryptocurrency exchange by volume, but Kucoin has been gaining ground in recent months. Both exchanges offer a wide range of cryptocurrencies and both have their own unique features.
Binance and Kucoin are two of the most popular cryptocurrency exchanges. They both have their own pros and cons, so it can be difficult to choose which is better. In this article, we will compare these two exchanges in order to help you decide which one is best for you. Read more in detail here: binance vs kucoin fees.
Choosing a cryptocurrency exchange may be challenging, particularly when there are so many choices. Binance and Kucoin, two prominent cryptocurrency exchanges, are two of the alternatives we’ll examine. Instead of evaluating them individually, we’ll pit them against one other – Binance vs. Kucoin – to help you decide which is the best cryptocurrency exchange for you.
The goal of this piece isn’t to condemn or promote one conversation above another. The purpose of this article is to provide the available data and compare these two cryptocurrency exchanges. We’ll give you what we have, but ultimately, it’s up to you to figure out which transaction is best for you.
Kucoin
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BTC, ETH, XRP, LTC, and over 100 more cryptos are all available.
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Only crypto is accepted as a deposit method.
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Cryptocurrencies are the only ones that are accepted.
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Email for assistance
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Fees are 0.10 percent of the total.
Kucoin is a cryptocurrency exchange that began in China but relocated to Hong Kong owing to regulatory restrictions. Kucoin, like many other Hong Kong exchanges, is growing steadily. Kucoin had to briefly shut owing to an influx of new members after the exchange established an affiliate scheme that incentivized users to invite others to join.
Fees
Each transaction on Kucoin’s exchange is subject to a fee of 0.1 percent. If you have Kucoin tokens, however, you may utilize the Kucoin dividend mechanism to get half your money back on your transactions. This is something we’ll talk about later.
Withdrawal costs are determined asset per asset – see the full list of withdrawal fees here.
Asset Management
Kucoin’s exchange now offers approximately 180 trade pairs. Although it has fewer trading pairings than Binance, Kucoin does offer trading pairs using Bitcoin Cash, NEO, and Kucoin tokens.
Security
Kucoin has done its due diligence in terms of security and is presently unhacked. This is due in part to the fact that it uses two-factor authentication. Furthermore, no proof has been found that the exchange or individual accounts have been hacked.
Exchange of Specific Currencies
Both Kucoin and Binance have their own cryptocurrency tokens that they sell and promote. With Kucoin, you may utilize the tokens to get up to 50% of the exchange’s profits in dividends. These are given out on a regular basis and are a fantastic method to get a return on your investment.
Kucoin token holders are also entitled to a reduced transaction charge than the normal rate. Holders of the Kucoin cryptocurrency may expect to earn $0.73 per Kucoin each year, according to an article published by Fela Oparei. While this may not seem like much, it is expected that the currency will continue to expand and, as a consequence, its value will rise.
Service to Customers Excellence
Kucoin is well-known for its lightning-fast and efficient customer service. You’ll get access to 24-hour telegram chat assistance as a Kucoin exchange member. In addition, the exchange responds quickly to any problems or help requests that they receive.
Is Kucoin a secure cryptocurrency?
The Kucoin cryptocurrency exchange began development in 2011. It was designed and constructed to comply with international financial norms. Kucoin uses two-factor authentication, as well as other security layers, to ensure that its platform is stable and secure. Although Kucoin is a newcomer to the cryptocurrency exchange scene, you should have no doubts that they are offering a secure environment for its customers.
Types of Trade Orders
The exchange only provides limit order trading, according to Kucoin’s help site. At this moment, stop/loss orders are not available.
Support for Mobile Platforms
Kucoin’s mobile apps are available for both iOS and Android. Kucoin has a download link for the app. While every program may always be improved, Kucoin performs a fantastic job of delivering a decent user experience for its consumers.
Binance
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BTC, ETH, XRP, LTC, and 120 more cryptos are available.
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Only crypto is accepted as a deposit method.
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Cryptocurrencies are the only ones that are accepted.
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Support: Submit a ticket through email.
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Fees are 0.10 percent of the total.
The Binance cryptocurrency exchange began in mainland China, but was forced to move to Hong Kong owing to China’s strict regulations. Since then, the exchange has seen tremendous development and popularity. To allow the site time to adapt, the exchange had to place a temporary stop on new signups. This is still the true, since Binance only permits a small number of new users to join each day.
Binance does not need an ID to sign up. If you wish to join a higher membership level, you’ll need to provide identification. The basic account level should be sufficient for the majority of users on the exchange.
Fees
Binance’s fees are 0.1 percent every trade, same as Kucoin’s. Binance does not charge any deposit fees, however withdrawal costs differ according on the asset. Some of the bigger currencies, such as Litecoin and Ethereum, have a 0.01 withdrawal charge. The Binance fee schedule may be seen here.
Other exchangers, on the other hand, may charge up to 0.18 percent for withdrawals.
Asset Management
Binance has a large number of assets for skilled traders. However, it does not provide the best value of any exchange available. You’ll be OK as long as you stick to the top 100 cryptocurrencies. Binance also provides trading pairings for Binance currency, Bitcoin, and Ethereum.
Security
Binance, like Kucoin, allows for two-factor authentication. This would be ideal if it were a standard for all bitcoin exchanges. That, unfortunately, is not the case. Binance has not been hacked, which is excellent news given that most exchanges are always under assault.
Keep in note, though, that Binance has had certain problems that may cause you to be concerned. When consumers attempt to locate the exchange, for example, the number of phishing sites that appear has increased. Unfortunately, this is a persistent issue in the bitcoin industry. Finally, it is not Binance’s responsibility; nevertheless, it is something to consider while using Binance as your preferred exchange.
Exchange of Specific Currencies
Binance, like Kucoin, has its own cryptocurrency token (BNB coin). Any costs incurred when utilizing the Binance cryptocurrency exchange may be paid using your Binance tokens. If you need to pay for withdrawals, listing fees, or exchange costs, for example, you may do so using your Binance tokens.
Customer Service
Binance’s customer service is superior than that of most other exchanges. You may use the exchange to bring problems to their notice in a variety of ways. Binance’s main approach is a ticketing system, which is a convenient way to guarantee that your problem is addressed by the company’s customer support staff.
Is Binance a secure platform?
Despite the fact that Binance is one of the largest exchanges on the market, there are a number of unknowns that may cause consumers to be wary. Binance, for example, has yet to make an official declaration about how its exchange’s assets are protected. However, Binance has a devoted user base, and there is presently no reason to believe that the exchange does not take security seriously.
Types of Trade Orders
On Binance’s exchange, there are three kinds of trading orders: Limit Order, Market Order, and Stop-Limit Order. A Limit Order is a request to sell or purchase currency at a certain price or better, as opposed to a Market Order, which attempts to buy or sell currency at the current price. Finally, when the limit price exceeds the stop price, Stop-Limit Orders execute a purchase or sell.
Support for the Platform
Binance, like Kucoin, has mobile applications for both Android and iOS. The applications are available for download here. Binance also provides tutorial articles under the QR code for customers who need more information or assistance throughout the installation procedure.
Binance also offers a desktop application, which you can learn more about in our tutorial to the Binance desktop software.
Table of Comparisons between Binance and Kucoin
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|---|---|---|
| Authentication using two factors | Yes | Yes |
| Fees | 0.1 percent – but less if you use the BNB currency | 0.1 percent – if you hold KCS coin, you will get additional advantages. |
| Asset Management | All of the main cryptocurrencies are accepted. | All of the main cryptocurrencies are accepted. |
| Customer Service | Support mechanism for ticketing | Chat assistance is available 24 hours a day, 7 days a week |
| Support for the Platform | iOS, Android, and Browser | iOS, Android, and Browser |
| Option Trading | Limit, Market, and Stop-Limit Orders are all types of orders. | Only Order Limits |
| Have you made your decision? | Join Binance Today! | Join Kucoin Today! |
| Do you need a thorough analysis? | Review of Binance | Review of Kucoin |
- Over 150 Cryptos are available.
- Trade in Your Native Language: The exchange is accessible in 12 different languages.
- Live chat assistance is available at all times.
- Trading commissions are low.
Why Should You Use Kucoin Instead of Binance?
Do you need assistance with your set-up? Check out our in-depth Kucoin guide.
- Over 100 cryptos are available.
- Email support in many languages
- Apps for mobile and desktop are available.
- Trading commissions are low.
Binance vs. Kucoin: Which Is Better?
Do you want to be guided through the whole process of creating an account? Check out our in-depth Binance guide.
Which is the best option for you?
It’s tough to pick between the two if you only consider what each exchange has to offer and the benefits and drawbacks of each. Kucoin provides excellent security and offers live customer assistance 24 hours a day, 7 days a week. Binance, by contrast, is the biggest cryptocurrency exchange in the world, but you may have to wait a few hours for a response from their ticketing system. Both provide a wide variety of cryptocurrencies as well as trading opportunities.
Overall, both cryptocurrency exchanges have a lot in common with one another and have a lot of passionate and supporting users. Choosing between the two will very certainly come down to your personal needs and tastes, as well as what you want from a bitcoin exchange.
Visit TotalCrypto.io for more information.
1) Are you still undecided about which exchange is best for you? Check out our in-depth Best Exchange Guide, where we pit nine of the best exchanges against one other.
2) Have you decided on Binance and want to learn how to download their iOS app? We’ve got you covered.
3) Do you want a lag-free experience while trading cryptocurrencies on Binance if you’re using a desktop? Consider installing the Binance Desktop App on your computer.
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DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
The top crypto exchanges 2023 is a question that has many answers. Binance vs Kucoin in the year 2018 are two of the most popular choices for investors looking to trade in cryptocurrency.
Frequently Asked Questions
What is the most accurate crypto exchange?
The most accurate crypto exchange is Coinbase.
What is the difference between Kucoin and Binance?
Kucoin is a cryptocurrency exchange based in Hong Kong. Binance is a cryptocurrency exchange based in China.
Is Binance the biggest exchange?
Yes, Binance is the largest cryptocurrency exchange in the world.
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