KuCoin Vs Binance: Pros, Cons, Features, Fees (2024) (2024)

KuCoin Vs Binance Comparison

Binance and KuCoin are both awesome crypto exchanges with high volume, deep liquidity, and 100s of altcoins to choose from. Binance is the largest exchange in the world by volume, and KuCoin is not far behin them.

In our complete review of KuCoin, we gave the Korean exchange 3.4/5 stars, and found that overall they are a solid crypto trading platform and really shine when it comes to their wide selection of digital assets to choose from. Compared to Binance, they have similar trading fees, similar security measures in place, and get similar reviews online from their users.

Binance, the largest crypto exchange on the planet, really shines when it comes to transparency, liquidity, and user trust. Compared to KuCoin, they have comparable fees, tons of altcoins to trade, and high liquidity.

We had a look at the pros & cons of both KuCoin and Binance - which came out on top?

Pros and Cons of Kucoin

Source: KuCoin.com

KuCoin’s strength lies in its vast array of tradable cryptocurrencies and low trading fees.

According to CoinMarketCap, the crypto exchange has 720+ coins currently listed.

This is more than double what you’ll find on Binance. And the crypto exchange is always on the lookout for more exciting projects to add to their list.

The trading charge incurred by traders on KuCoin is an advantage. Compared to Binance, KuCoin fees are much cheaper. By crypto exchange standards, KuCoin trading fees are affordable and would surely attract investors with large portfolios to their customer base.

Customer Stats

KuCoin exchange boasts of 20M users from 200+ countries, accumulating over $1 trillion in trading volume since its creation. Founded in September 2017, the global crypto exchange operates from Mahé, Seychelles, and offers a plethora of exciting trading products and services: spot trading, margin trading, P2P fiat, free trading bot, futures trading, staking, crypto lending, and even NFTs.

On the other hand, Binance is a top-leading global cryptocurrency exchange that offers advanced traders around the world access to profit-maximizing crypto services, advanced trading tools, and hundreds of ready-to-trade crypto assets.

The exchange was built in 2017 and shares plenty of similarities with KuCoin. Its trading fees are affordable with spot trading as low as 0.1% (for maker and taker). Its broad selection of cryptocurrencies is another perk. Binance supports over 380 coins (only 65+ for US users) and 1600+ markets, giving you many trading options. By trading volume, Binance is the largest exchange in the world.

Binance also offers an advanced trading interface with real-time charting tools that are useful for experienced traders. With the platform, you can place various order types: stop order, limit order, stop-market order, and more.

Where Does Each Exchange Come Up Short?

KuCoin and Binance each have some drawbacks that need to be improved on to sustain their reputation as global crypto trading darlings.

Licenses

KuCoin lacks an operational license to operate in the U.S. as a result of strict regulations and policies. As a result, you won’t be able to fully use the cryptocurrency exchange if you’re based in the region.

Another drawback with KuCoin is its limited account funding methods. Crypto deposits are allowed but you can't directly buy crypto with fiat currencies. The only way around is to use third-party apps and this route incurs hefty charges.

To tackle strict financial regulations in the United States, Binance built another platform for its US users. Binance.US offers a regulation-compliant and seamless trading experience to traders in the United States. However, its U.S. version is limited with fewer currencies and features.

Plus, the platform has a plethora of advanced tools and features that could make crypto newbies feel confused and overwhelmed.

KuCoin Vs Binance FAQs

Binance stands out and wins the KuCoin vs Binance battle when it comes to very competitive fees and multiple deposit/withdrawal methods. Compared to KuCoin, which is not accessible in the United States, Binance has built a sister platform for its US-based users. Plus, the secure crypto exchange supports fiat withdrawals and is the largest exchange based on user base or trading volume.

KuCoin and Binance are both well-established crypto exchanges to help users worldwide buy, sell and trade digital currencies.

They both offer you access to hundreds of hard-to-find crypto assets, low trading charges, and numerous complementary crypto trading and investment services as well.

KuCoin is a great choice with cool features but still lacks a little behind. Going head to head, Binance is the better pick out of both exchanges.