KuCoin and Coinbase are two of the oldest and most renowned cryptocurrency exchanges in the world. Both are trusted by millions of users worldwide and offer a wide range of crypto trading and investing products.
KuCoin has a daily spot trading volume of $2.8 billion (11th highest) and a derivatives trading volume of $2.24 billion (13th highest). Coinbase only supports spot trading and has a daily trading volume of $5.2 billion (fifth highest).
KuCoin and Coinbase share various similarities, but there are also differences you need to know about. So, which crypto exchange is better and why? Let’s find out.
KuCoin Vs Coinbase: Supported Cryptocurrencies
At the time of writing, KuCoin has over 300 cryptocurrencies and 600 futures trading pairs. These include popular names like Bitcoin and Ethereum, and new entrants like Safemoon. Moreover, KuCoin actively adds new cryptocurrencies as soon as they enter the market.
Coinbase, on the other hand, supports over 100 cryptocurrencies. It also regularly adds new cryptocurrencies, though it mainly focuses on renowned names like Bitcoin, Ethereum, Ripple, Cardano, and more.
Verdict: KuCoin is the winner, as it supports more cryptocurrencies than Coinbase.
KuCoin has a tiered fee structure, and the fee further varies based on the class of the coin. KuCoin classifies cryptocurrencies in three classes: Class A, Class B, and Class 3. Class A comprises renowned and popular cryptocurrencies like BTC, ETH, and XRP.
Class B comprises less popular cryptocurrencies, and Class C includes newly-listed coins.
Coming to tiers, KuCoin has 13 fee tiers: Level 0 to Level 13. The market maker/taker fee for spot trading ranges between 0.1%/0.1% to –0.005%(rebate)/0.025% based on the tier. For futures trading, the market maker/taker fee ranges between 0.02%/0.06% and –0.015%/0.03%.
Coinbase has two versions: Coinbase and Coinbase Pro. The basic version has no fee, and you can buy and hold crypto without any extra charges.
However, Coinbase Pro has a tiered fee structure like KuCoin. The market maker/taker fee ranges between 0.50%/0.50% and 0.05%/0.00%.
The pricing tier depends on the 30d trading volume and/or the amount of native token you hold. For instance, KuCoin has a native token (KCS), and you can get tier upgrades and other benefits from it.
Market maker fee applies when you place orders that enter the order book, such as limit orders. Market taker fee applies when your orders get executed immediately, such as market orders.
Apart from trading fees, both KuCoin and Coinbase have additional fees users must know about.
KuCoin doesn’t charge any deposit fee, but it has a withdrawal fee, which is different for each cryptocurrency. For example, the withdrawal fee for BTC is 0.005 BTC and the minimum withdrawal is 0.002 BTC. Check this page out for more information on withdrawal fee.
Coinbase charges a transaction fee based on your transaction method. For instance, Coinbase charges a 2% transaction fee for credit transactions. There could be other fees and charges not mentioned in this review. Be sure to learn about all the charges before opening an account with any exchange.
Verdict: KuCoin is the winner, as it charges lower fees than Coinbase.
Account Funding Methods
Both KuCoin and Coinbase allow you to buy crypto using fiat currency.
KuCoin offers three ways to buy crypto:
- Fast Buy: You can buy USDT using a Visa or MasterCard card.
- P2P: You can buy crypto in exchange of fiat money deposited using bank transfer and 20+ other options.
- Third-Party: You can buy crypto using third-party payment gateways like Banxa, Simplex, and BTCDirect.
On Coinbase, payment methods depend on the country you use. For instance, US customers can deposit funds using a bank account, debit card, wire transfer, PayPal, and Apple Pay.
European customers can deposit funds using SEPA transfer, 3D secure card, Ideal. Sofort, PayPal, and Apple Pay.
Please note that neither KuCoin nor Coinbase charge any fee on depositing funds. However, the payment providers may charge a fee. For example, third-party payment gateways like Banxa charge transaction fees. Be sure to stay updated with the latest charges.
Verdict: It’s a tie, as both KuCoin and Coinbase support a wide range of payment methods to choose from.
Opening Account & Account Limits
Both KuCoin and Coinbase offer seamless account opening processes.
KuCoin has optional KYC; however, non-KYC users can withdraw up to 1 BTC per day only. Completing identity verification expands that limit to 200 BTC. The KYC process is seamless and takes 24-48 hours.
Here’s how you can open an account on KuCoin.
- Open the KuCoin website.
- Click on Sign Up on the top-right corner.
- Create an account using phone or email.
- Verify your account if you want to.
- Deposit funds in your KuCoin wallet.
- Start trading
Joining KuCoin? Know How to short Bitcoin on Kucoin?
Coinbase, on the other hand, has mandatory KYC requirements. Since Coinbase is regulated by the US SEC, identity verification is mandatory. You need to complete KYC verification. Follow these steps to open an account on Coinbase.
- Visit the Coinbase website.
- Click on Get Started on the top-right corner.
- Fill the registration form.
- Complete your identity verification.
- Add funds to your wallet and start using the services.
To register for Coinbase Pro, visit pro.coinbase.com and click on Get Started. Fill the sign-up form, verify your identity, and start trading.
Verdict: KuCoin is the winner, as it has optional KYC. You can use its services without verifying your identity.
Ease of Use & Interface
KuCoin and Coinbase both have world-class trading platforms. They are easy to use and have a wide range of features and functionalities. Let’s draw a head-to-head comparison between the trading platforms offered by KuCoin and Coinbase.
KuCoin has one of the most powerful trading platforms in the crypto space. It has a full-fledged charting system powered by TradingView.
You get multiple time frame charts, ranging from 1 minute to 1 week. This enables multi-timeframe analysis and helps you make informed decisions. KuCoin also has hundreds of indicators powered by TradingView to enable accurate technical analysis.
KuCoin’s trading platform has drawing tools by TradingView. You can draw trendlines, patterns, and other figures to identify important levels and make informed trading decisions.
The right half of the trading platform has the order book and the order form. The order book gives live trading data to help you identify the market trend. The order form allows you to place orders. You can place the following orders:
- Stop Limit
- Stop Market
The bottom of the trading platform has the Assets Overview section, where you can see your Open Orders, Stop Orders, Order History, and Trade History. To learn more about the exchange, you can check this KuCoin tutorial.
Coinbase has two versions: Coinbase and Coinbase Pro. Coinbase is a simple and easy-to-use platform. It doesn’t have a charting system, and you can simply buy and sell cryptos.
If you want to access advanced features like charts and a trading terminal, you’ll need to sign up for Coinbase Pro. It has Coinbase’s proprietary trading platform with candlesticks charts, indicators, margin trading, various order types, and more.
Despite amazing features, the platform is intuitive and easy to use.
Verdict: It’s a tie. Both KuCoin and Coinbase have advanced trading platforms with top-notch features and ease of use.
Security is one of the most important factors to consider when selecting a cryptocurrency exchange. Both KuCoin and Coinbase implement top-notch security features, making them some of the most trusted cryptocurrency exchanges in the world.
Let’s compare the security features of the two exchanges.
KuCoin is one of the most secure trading exchanges worldwide. Though it has been hacked once in 2020, the exchange implements top-notch security measures to provide a safe trading environment to its users.
Some essential security features implemented by KuCoin are:
- Two-factor authentication
- Anti-phishing safety phrase
- Multi-signature cold storage wallets
- IP allowlisting for restricting login IP
- Safety phrases and security questions
In addition, KuCoin allows withdrawals up to 1 BTC only for non-KYC users. Anyone who wants to withdraw more needs to complete KYC.
Coinbase is hands down one of the safest cryptocurrency exchanges in the world. Since it’s based in the US, it’s regulated by the US SEC and complies with all the legal requirements. Moreover, the funds in Coinbase are FDIC-insured.
The key security features of Coinbase are:
- Mandatory KYC verification
- Offline cold storage wallets
- Multi-factor authentication
- IP allowlisting
Verdict: KuCoin is the winner, as it doesn’t have mandatory KYC verification.
Like security, customer service is a crucial factor to consider when choosing a cryptocurrency exchange for day trading and investing. Let’s look at the customer service and support you get on the two exchanges.
Coinbase has satisfactory customer support and service. It has a comprehensive help center where you can find a lot of blog posts and articles on various topics. Hence, you can get answers to almost all commonly-asked questions on the help center.
If you can’t find answers in the help center and wish to get more help, you can contact the team directly. Head to the Contact Us section on the Coinbase website and you’ll find a Message Us option in the bottom-right corner.
Click Message Us, and a chat box will open. There, you can select your issue and explain your query. The Coinbase team will reply to you shortly.
KuCoin has a dedicated Support Center like Coinbase where you can find a lot of blog posts and articles covering various topics. KuCoin also has an FAQs section, where you can find answers to commonly-asked questions.
If you want to talk to a support agent, KuCoin gives you two options. First, you can use the Live Chat feature to connect with the customer support team right away. Second, you can raise a ticket and contact the team via email.
Verdict: KuCoin is the winner, as it offers support by live chat and email.
- Is KuCoin a Safe Exchange?
Yes, KuCoin is one of the safest cryptocurrency exchanges out there. It implements industry-leading security features and measures, creating a safe and trustworthy trading environment. It also has mandatory KYC requirements for over 1 BTC daily withdrawals.
- Is Coinbase a Safe Exchange?
Yes, Coinbase is a safe exchange. It’s regulated by the US SEC, and all the funds in the exchange are FDIC-insured. Coinbase also has mandatory KYC requirements, ensuring that every user of the exchange is verified.
Both KuCoin and Coinbase are popular cryptocurrency exchanges, and selecting a winner is difficult. However, KuCoin has a few advantages over Coinbase.
First, Coinbase allows spot trading only. KuCoin, on the other hand, offers spot trading and derivatives trading with attractive leverage. This makes KuCoin ideal for active traders.
KuCoin also has lower fees than Coinbase. It supports more cryptocurrencies and has more features and functionalities than Coinbase.
Coinbase has one benefit over KuCoin; it is regulated by the US SEC and is more secure.
Overall, KuCoin is a better pick if you are looking for a full-fledged cryptocurrency exchange that supports hundreds and cryptocurrencies and platform features.
See how KuCoin & Coinbase compares to other crypto exchanges: