When it comes to trading crypto, there are way too many exchanges available on the web. Among them, two of the renowned names are Poloniex and KuCoin.
Both these exchanges are rich-in product offerings and other trading features. Even both exchanges are pretty similar to each other.
Hence, for any newbies, it gets really confusing between Poloniex vs KuCoin, and they are not sure which one to choose.
To end this, I have compared both crypto exchanges below. So you can pick the right one as per your requirements.
Poloniex vs KuCoin: At A Glance Comparison
Poloniex is one of the oldest cryptocurrency exchanges operating since 2014. The exchange is widely trusted and offers you various crypto services. It allows you to trade in markets like spot, margin, and derivatives.
Along with that, you will also find other crypto offerings on the exchange, such as grid trading and Polo Earn. Moreover, it also offers you access to one of the lowest trading fees in the crypto exchange markets.
KuCoin is one of the leading cryptocurrency exchanges out there. The exchange has been in operation since 2017 and offers its crypto services in various markets. You can use the exchange to trade in the futures or spot markets.
Additionally, it also offers you access to other crypto areas such as crypto lending, KuCoin pool, cloud mining. So you have more ways to make money in crypto. Even it also offers you a trading bot so you can enjoy automated trades.
Poloniex vs KuCoin: Trading Markets, Products & Leverage Offered
Coming to the product offerings, both exchanges offer you similar market types and leverage. But there is a slight difference.
- Spot Trading
- Margin Trading with up to 3x leverage.
- USD-M perpetual contracts with leverage up to 100x
Joining Poloniex? Learn How to short BTC on Poloniex
- Spot Trading
Leverage ranging from 5x to 10x for margin trading
Perpetual USDT-M contracts with leverage up to 100x
- USDC-M perpetual contracts with leverage up to 100x
- Coin-M perpetual contracts with leverage of up to 100x leverage
- Leveraged tokens
- P2P trading
Verdict: KuCoin is clearly a better choice and the winner for this section. It offers you access to more markets and higher leverage compared to Poloniex.
Poloniex vs KuCoin: Supported Cryptocurrencies
On both exchanges, you will find a wide range of crypto trading pairs for both spot and futures trading. These coins include:
On Poloniex, you will find crypto assets with 500+ spot trading pairs. Along with that, it also offers you access to the DeFi innovation zone, where you can trade in 85+ DeFi assets and other leveraged tokens. Some of the available tokens are:
With KuCoin, you will get access to more than 700 tradable crypto assets across markets like spot or futures. The list contains a mix of both the popular coins and the newly launched tokens. These tokens include:
Verdict: KuCoin is the winner for this section as well. Since KuCoin supports more tokens than Poloniex.
Poloniex vs KuCoin: Trading Fee & Deposit/Withdrawal Fee Compared
Trading fees are one of the crucial factors when it comes to choosing a crypto exchange. Although both exchanges have competitive trading fees, they are quite different.
Poloniex Spot Trading Fee
Poloniex has a tiered fee structure and follows a maker-and-taker fee model. Alongside, it also offers you TRX discount on your trades. The regular fee stands at:
- Maker Fee: 0.2000%
- Taker Fee: 0.2000%
With TRX discount:
- Maker Fee: 0.1450%
- Taker Fee: 0.1550%
Poloniex USD-M Perpetual Futures Fee
Unlike spot trading, you don’t get any TRX discount for futures trades. However, it follows a tiered fee structure. So the more you trade on the exchange, the less you will have to pay as the trading fee. The regular fee stands at:
- Maker Fee: 0.015%
- Taker Fee: 0.05%
Poloniex Deposit & Withdrawal Fee
When it comes to deposit and withdrawal, Poloniex is pretty expensive as the exchange is using a third-party partner named Simplex for all the fiat deposits and withdrawals.
So Simplex charges you a 3.5% or $10.00 fee for processing your card transactions. Also, Poloniex takes an extra 0.75% on top of that.
For withdrawals, Simplex charges you a fee of 0.5% fee for bank transfers. Alternatively, if you deposit or withdraw crypto, it will be subjected to network fees.
KuCoin Spot Trading Fee
Coming to KuCoin, the exchange also follows the same tiered fee structure with a maker/taker fee model. On top of that, you get a 20% discount on spot trading fees compared to Poloniex’s 2% TRX discount.
The regular trading fee stands at:
- Maker Fee: 0.1%
- Taker Fee: 0.1%
And with a 20% discount:
- Maker Fee: 0.08%
- Taker Fee: 0.08%
KuCoin Futures Trading Fee
Coming to futures trading fees, you again get to see a tiered fee structure. But it doesn’t have any discount for futures trading. So the regular trading fee stands at:
- Maker Fee: 0.02%
- Taker Fee: 0.06%
KuCoin Deposit & Withdrawal Fee
When it comes to depositing fiat on KuCoin, the transaction is free. But you might get charged transaction fees based on your payment method selection. For instance, a credit/debit card purchase will incur transaction fees.
The same goes for withdrawal fees. Different withdrawal options have different withdrawal charges.
But luckily, KuCoin has P2P trading, which can be used for depositing and withdrawing funds free of cost.
Verdict: KuCoin is a much better option than Poloniex in terms of fees. It offers you heavy discounts on spot trading. Plus, it offers you access to P2P trading. So KuCoin wins this section.
Poloniex vs KuCoin: Order Types
When placing an order on both exchanges, you will find a few similar and some different order types. Such as:
- Market Stop
- Limit Stop
- Market Stop
Verdict: As there is not so much of a difference between the order types, it is a tie between Poloniex and KuCoin.
Poloniex vs KuCoin: KYC Requirements & KYC Limits
Poloniex doesn’t require you to complete your KYC (Know Your Customer) verification. It needs basic email verification, and you are all set to trade on the exchange. Furthermore, you can also buy crypto using your credit/debit card or bank transfer without completing your KYC.
Talking about the KYC limits it has two levels of verification:
- Level 1: Daily withdrawal limit of $10,000
- Level 1: Daily withdrawal limit of $500,000
KuCoin also doesn’t require you to complete your KYC verification. However, KYC verification will only be required if you want to deposit or withdraw fiat.
But again, if you use P2P trading for the same purpose, KYC isn’t really needed. Just create your account, verify your email, and you are ready to start trading.
KuCoin also has two KYC levels:
- Basic Features: There is a daily limit of 1 BTC for withdrawals and 2,000 USD for P2P trading. However, you don’t get access to fiat deposits.
- Advanced Features: Withdrawal limits of 200 Bitcoins daily and P2P trading limits of 500,000 USD daily, along with fiat deposits.
Verdict: As you can trade on both exchanges without KYC verification, it is a tie.
Poloniex vs KuCoin: Deposits & Withdrawal Options
- Method 1: Buy crypto using a debit or credit card or your Simplex Bank Account.
- Method 2: Deposit or withdraw crypto using your Poloniex Crypto wallet.
- Method 1: Use a credit or debit card or other third-party payment solutions to buy crypto.
- Method 2: Deposit or withdraw crypto using your KuCoin Crypto wallet.
- Method 3: Make deposits and withdrawals using your local payment methods using P2P trading.
Verdict: As KuCoin offers you more options to deposit and withdraw funds, especially P2P trading(for free deposits/withdrawals), it is the winner.
Poloniex vs KuCoin: Trading & Platform Experience Comparison
When it comes to the overall trading experience, both Poloniex and KuCoin offer a similar experience.
Their trading window seems identical. Plus, it offers you access to pretty much the same features. To help you understand better, here is a quick look:
Poloniex has a straightforward trading window. It offers you access to all the important features and trading tools. Such as:
- Technical charts and trading tools powered by TradingView
- Trading pair details
- Orderbook with current market trades
- Easy-to-use order form
- Current positions, open orders, order history, trade history, and transaction record
Coming to KuCoin, it offers you a better trading experience. For spot trading, you get a similar trading window as Poloniex.
However, for futures trading, KuCoin has two different platforms – Futures Classic and Futures Lite.
Futures Classic offers you a full-fledged trading experience and tools just like Poloniex. However, if you want to get a simpler trading experience, you need to go to KuCoin Futures Lite.
The lite version has a simple trading system for trading futures. Also, you get other trading tools like:
- Technical charts and trading tools powered by TradingView
- Trading Pair details
- Order book
- Multiple trading pairs
- Easy-to-use order form
- Open orders, stop orders, order history, realized PNL, etc
Verdict: Although both the exchange’s trading window is pretty much the same. But KuCoin is still a better choice due to its separate platforms for Futures Trading.
Poloniex vs KuCoin: Customer Support
Reaching out to Poloniex’s customer support is extremely easy. It offers you multiple ways to get help. The easiest option is to use their live chat support, which can be used for connecting with a live support agent. Or access other helpful guides.
Alternatively, you can also raise a support ticket to get help. Plus, you can also seek help from their social media channels like Twitter.
KuCoin offers you a similar customer support option. You can use their live chat window to contact a support agent. Or you can use the chatbot to access different helpdesk guides.
It also allows you to raise a support ticket to get help. However, you don’t get any help from social media channels like Twitter.
Verdict: As Poloniex offers more ways to get help, it is the winner for this section.
Poloniex vs KuCoin: Security Features
- Majority of funds are stored in offline storage
- Multi-factor authentication
- IP whitelisting
- SSL encryption
- KYC requirements for advanced features
- Google verification
- Trading password
- Restrict login IP
- Email anti-phishing code
- Withdrawal anti-phishing code
- Freeze account
Verdict: As KuCoin offers more security features compared to Poloniex, it is the winner.
Is Poloniex Safe & Legal To Use?
Yes, Poloniex is a safe cryptocurrency exchange to use. The exchange is established in the US, regulated by the US SEC, and complies with all legal regulations. Also, it offers you all the necessary security features.
Is KuCoin Safe & Legal To Use?
KuCoin is one of the leading cryptocurrency exchanges which is widely used.
It has implemented necessary security features and keeps users’ funds in cold storage. While the exchange isn’t regulated, it still provides a safe and secure experience to its users.
Poloniex vs KuCoin: Why not use both?
KuCoin is the ultimate winner in the battle with Poloniex.
The exchange has more features, trading tools, leverage, and lower trading fees. Plus, it supports P2P trading. All of these combined would help you trade effectively.
But Poloniex is nowhere a loser.
The exchange also has low, competitive trading fees. Plus, the exchange is regulated. So you get to trade on a trusted exchange and have assurance over your funds.
See how Poloniex and KuCoin compares to other exchanges: