KuCoin and Binance are two of the best exchanges in the world. Binance ranks first in terms of daily spot and derivatives trading volume, whereas KuCoin ranks 11th in spot trading volume and 13th in derivatives trading volume.

Both exchanges offer a wide range of cryptocurrencies to choose from. They support hundreds of cryptocurrencies, allowing you to buy and hold the tokens of your choice. The two crypto exchanges also support derivatives trading.

While Binance and KuCon share myriad similarities, there are a few differences that act as deal-breakers. So, which exchange between KuCoin and Binance is better for trading crypto and why? Let’s find out.

KuCoin vs. Binance: Supported Cryptocurrencies

KuCoin and Binance support hundreds of cryptocurrencies.

At the time of writing, KuCoin has over 400 trading pairs, with new assets being constantly added. You can trade assets against USD, BTC, KCS, and other altcoins.

At the time of writing, Binance has over 300 crypto assets. You can trade cryptocurrencies against USDT, BNB, BTC, fiat, and other altcoins.

Verdict: It’s a tie, as both exchanges support hundreds of cryptocurrencies, and you can trade them against fiat and crypto.

KuCoin vs. Binance: Trading Fees

Let’s begin with one of the most important factors to consider before choosing a crypto exchange: the trading fee.

Both KuCon and Binance use a tiered fee structure — the trading fee decreases as your tier increases. It’s a common fee model used by many cryptocurrency exchanges.

KuCoin has 13 tiers, from Level 0 to Level 12. Cryptocurrency traders with a monthly spot trading volume of less than 50 BTC. Futures trading volume of under 100 BTC, or a KCS holding of less than fall into the Level 0 tier. The market maker/taker fee in this tier is 0.09% and 0.1%, respectively. For futures trading, this market maker/taker fee is 0.015%/0.06%.

Similarly, traders with a monthly spot trading volume of over 80,000 BTC, futures trading volume of or KCS holding of over 150,000 falls into the Level 12 tier. The market maker/taker fee is –0.005%(rebate)/0.02% for spot trading and –0.015%/0.03% for futures trading.

 

Let’s now look at Binance’s fee structure.

Also known as the people’s exchange, Binance has ten tiers: VIP 0 to VIP 9. Traders with a monthly trading volume of under 50 BTC and/or a BNB balance of under 50 BNB fall into the VIP 0 tier. The market maker/taker fee for this tier is 0.1%/0/1% for spot trading, 0.02%/0.04% for USD- futures, and 0.01% (maker only) for COIN-M futures.

Advanced traders with a 30d trading volume of over 750k BTC and/or a BNB holding of over 11,000 fall into the VIP 9 tier. The market maker/taker fee for this tier is 0.02%/0.05% for spot trading, 0.0%/0.017% for USD-M futures, and -0.009% for COIN-M futures, which is the lowest fee.

When you use BNB for transactions, you get a 25% off on-spot trading fee and 10% off on USD-M futures trading fee.

Apart from trading fees, traders must check the withdrawal fees of the two exchanges and crypto wallets to prevent any confusion.

Verdict: It’s a tie, as both KuCoin and Binance have low fees and a similar fee structure.

KuCoin vs. Binance: Account Funding Methods

Both Binance and KuCoin support a variety of account funding methods. Let’s start with KuCoin first.

KuCoin allows you to buy crypto in three ways. You can buy USDT instantly with a Visa or MasterCard credit card. If you want any other currency, you can buy USDT first and then exchange it for other cryptos.

The second way is P2P transfer. KuCoin allows you to buy USDT, BTC, ETH, KCS, and USDC using 20+ fiat payment methods. These include bank transfer, Skrill, ADVCash, Uphold, PAYEER, TransferWire, Revoult, etc.

KuCoin also accepts third-party payments from services like Banxa, Simplex, and BTCDirect. Please note that transaction fees could apply when you use third-party payment providers.

Binance offers more options when it comes to account funding. The supported payment methods depend on the currency you want to deposit. For example, you can use credit and debit cards, P2P, cash balance, and third-party gateways like Banxa to deposit EUR. For USD, a direct card deposit is not available.

Verdict: It’s a tie, as KuCoin and Binance support similar account funding methods.

KuCoin vs. Binance: Margin Trading

Margin trading on KuCoin and Binance is almost identical. KuCoin gives you up to 100x leverage on futures. By default, the leverage is set to 20x. No leverage is available for spot trading.

Binance offers maximum leverage of 125x, though it’s set to 20x by default. Like KuCoin, Binance doesn’t provide any direct leverage on spot trading. However, Binance offers 3x cross margin and 10x isolated margin for spot trading.

KuCoin and Binance are also identical in terms of the type of orders you can place. You can place market, limit, and stop orders on both exchanges.

Verdict: It’s a tie.

KuCoin vs. Binance: Mobile App

Both KuCoin and Binance have mobile apps available for both iPhone and Android.

KuCoin’s mobile device app is fully functional and offers all the features and functionalities available on the desktop trading platform. It has a rating of 3.7/5 on the App Store and 4.0/5 on the Play Store. The Binance app has a rating of 4.5/5 on the Play Store and 4.7/5 on the App Store.

The ratings speak for themselves. Though both the exchanges are available on both platforms, Binance has a much better app in terms of usability and responsiveness. It has a better user interface and offers seamless navigation.

The KuCoin app can be laggy at times, and you may face some server issues.

Verdict: Binance is the winner, as it has a better app than KuCoin.

Binance vs. KuCoin: Opening Account & Account Limits

KuCoin and Binance have a similar account opening process. Let’s draw a head-to-head comparison between the two changes.

KuCoin

KuCoin offers a seamless account opening process. Here are the steps you need to follow:

  • Visit the KuCoin website.
  • Click on Sign Up at the top-right corner of the homepage.
  • Sign up with your phone number or email ID. You need to enter your phone/email ID and password. You’ll receive a verification code that you’ll need to enter. After entering it, your account will be registered.

That’s it. You can start trading now.

KuCoin doesn’t have mandatory KYC requirements. However, unverified users face major restrictions. Unverified and Individual KYC1 users can withdraw up to 1 BTC every day. There are limitations on P2P trading as well.

Individual KYC2 users enjoy a daily withdrawal limit of up to 200 BTC, whereas institutional KYC users can withdraw up to 500 BTC.

 

Binance

Binance also offers one of the easiest account opening procedures. Follow these steps to get started.

  • Visit the Binance website.
  • Click on Register on the top right corner.
  • Create an account using email/password or mobile no./password. You’ll receive a confirmation code. Enter that code to confirm your email address.

You’re all set. Start trading.

Binance also doesn’t have mandatory KYC requirements but poses restrictions on unverified users. Non-KYC accounts can only withdraw up to 0.06 BTC daily, whereas verified users can withdraw up to 100 BTC.

Non-verified users can only use up to 20x leverage, while verified users can enjoy up to 125x leverage.

Verdict: It’s a tie. Both the exchanges offer a seamless account-opening process with optional KYC.

KuCoin vs. Binance: Ease Of Use & Interface

The platform features and functionalities are essential factors to consider when choosing a cryptocurrency exchange.

You’ll be surprised to notice the similarities between the trading platforms KuCoin and Binance. Both the exchanges use TradingView charts and offer all the essential chart types, indicators, and other supporting features like order book, order history, asset overview, etc.

However, Binance’s platform is slightly more functional than KuCoin. There’s a bit more you can do on Binance. For example, the left side has a live order book where you can track buy and sell orders in real-time. The right side has a list of all cryptocurrencies, along with their price and percent change.

Towards the lower right side, you’ll see live market trades and market activities. The charting system is in the center and comes with complete TradingView access. Below the chart is the order book, where you can place limit, market, and stop-limit orders.

On the top of the trading terminal, you’ll find helpful values, including the current price, 24h change, 24h high, 24h low, and 24h volume. In the end, you get four trade management options: Open Orders, Order History, Trade History, Funds, and Positions.

On the other hand, the charting terminal covers the majority of KuCoin’s interface. You have the order book on the right side, and that’s the only extra information you get.

Verdict: Binance has a slight edge.

KuCoin vs. Binance: KCS vs. BNB Token

KuCoin and Binance both have their native tokens. KuCoin’s native token is KCS, and Binance’s native token is BNB.

KCS had its ICO in 2017 for $0.86. In January 2018, it surged to $20, giving massive returns in a few months after its listing. However, the up move didn’t last long, and KCS crashed, reaching $0.3 in January 2019.

It remained at around $1 for almost two years before surging in December 2020. As of now, the KCS price is around $15. KCS has a 24h trading volume of $41 million and a market cap of $1.2 billion.

Users who hold at least 6 KuCoin shares get a daily bonus, and they also get a 20% discount on the trading fee.

Binance Coin or BNB also had its ICO in 2017. It was listed for $0.11. It reached a high of $672 in May 2021 but fell to $300 shortly after that. As of now, its price is around $480.

BNB has a 24h trading volume of $2.43 billion and a market cap of $76 billion. Users who hold BNB can earn an APY of 0.35% and also get a transaction discount on the Binance exchange platform.

Verdict: It’s a tie. Both KuCoin and Binance have their native cryptocurrency tokens that offer various benefits.

KuCoin vs. Binance: Security Features of Crypto Exchanges

There’s a close call between KuCoin and Binance, even when it comes to security. Both cryptocurrency exchanges are some of the most renowned names in the exchange market. Also, both exchanges have been hacked once each.

No government body regulates either of the two exchanges, but that is the case with almost all cryptocurrency exchanges.

Despite being unregulated, KuCoin and Binance implement all the security measures needed to provide a safe experience for traders. Both KuCoin and Binance implement similar security features, including:

  • Two-factor authentication
  • Multi-sign cold wallet storage
  • KYC authentication for larger withdrawals
  • SSL encryption and IP allowlisting
  • Insurance of funds

Verdict: It’s a tie. Both exchanges are unregulated, implement similar security features, and have suffered a security attack once.

KuCoin vs. Binance: Customer Support

Both KuCoin and Binance have a dedicated customer support team. Let’s draw a head-to-head comparison between the customer service of the two companies.

KuCoin offers customer support mainly by email. You can visit their website and head to the “Submit a Ticket” section to raise an issue and contact the customer support team. Also, KuCoin has a huge help center with FAQs and help articles.

KuCoin also has a huge community. It has a presence on Facebook. Twitter, Telegram, YouTube, Reddit, LinkedIn, and Instagram.

Binance, too, offers customer service primarily by email. You can go to the “Submit a request” section under Support to send an email. Binance also has one of the most comprehensive knowledge bases. Binance Academy is the knowledge base where you can find a lot of helpful articles and FAQs.

Binance has a huge community on Telegram, Facebook, Twitter, Reddit, Instagram, and YouTube.

Verdict: It’s a tie. Both KuCoin and Binance offer support by email and have a vast help section.

  • Is Binance a Safe Cryptocurrency Exchange?

Yes, Binance is a completely safe cryptocurrency exchange platform. Though it has been hacked once, the platform implements all the industry-standard security features, like KYC verification, cold storage wallets, two-factor authentication, etc. So, you can use the platform without worrying about security.

 

  • Is KuCoin Safe?

KuCoin exchange, like Binance, is a completely secure platform, though it was hacked once in 2019. It is a major exchange and takes all the security measures like any other exchange to create a safe trading experience for everyone. Hence, millions of people use KuCoin, and you can stay rest assured about its security.

 

Conclusion

Choosing a clear winner between KuCoin and Binance is difficult because they offer almost the same features and functionalities. There are a few areas where Binance has a slight edge.

For example, it offers a few extra products, like a card, launchpad, NFT, gift card, etc. These additional features could be a luxury to have, but they won’t impact the trading experience.

Secondly, Binance has a higher trading volume than KuCoin and offers more liquidity, though the difference is not major. The only visible edge Binance has is that its platform is more user-friendly, but that may not necessarily be a deal-breaker.

Overall, both Binance and KuCoin are excellent platforms, and there is no better option.