7/21/2023 0 Comments Kucoin vs binance vs kraken![]() ![]() It's packed with features and functions, yet still easy to work through thanks to a seamless and sleek interface. Thanks to the massive amount of money running through the Binance company, the development team can dedicate funds to creating and maintaining a top crypto app for traders. Binance vs KuCoin: Mobile Appīinance has one of the better-designed mobile apps in the industry, available for both iOS and Android users. However, no trading fees on Bitcoin pairs on Binance is a significant advantage that will benefit more users. KuCoin edges ahead for day traders and swing traders with higher volume, as a 0.05% difference in fees could mean saving thousands every single month. This essentially means it's a zero-fee exchange for buying Bitcoin.īinance and KuCoin share similarly cost-efficient fee rates for beginner/intermediate users looking to merely accumulate crypto in a long-term portfolio. In addition, Binance has removed all spot fees for Bitcoin pairs. While these fees are much more cost-effective than beginner exchanges like Coinbase or CoinSpot, they are less impressive when lined against other trading-heavy platforms such as ByBit. Swapping one cryptocurrency to another on Binance is free. The discounts available when trading on Binance will vary depending on monthly trading volume and whether BNB is used to pay transaction fees. Binance vs KuCoin: Trading Feesīinance has a competitive fee structure that starts at an industry-standard 0.1% and drops to as low as 0.06%. In addition, KuCoin offers much greater leverage on derivatives which will suit higher-net-worth investors. Binance is an excellent, modern exchange for traders of all experience levels, but the interface is a little clunkier to work through than KuCoin’s. KuCoin narrowly beats Binance when it comes to the trading experience. KuCoin was compromised in 2020, but all those affected were quickly reimbursed. The upside is that investors can start trading without needing to pass lengthy Know Your Customer (KYC) protocols. As the exchange is unregulated in most nations such as the USA (and does not report to the IRS), fiat currency deposit methods are limited and expensive. The KuCoin company originally based itself in China but was forced to move to Hong Kong after the Chinese government’s crypto crackdown. This means that users who hold KCS can earn money by simply holding the asset, much like a dividend. KuCoin also has a native currency, KuCoin Token (KCS), which entitles holders to a share of the platform’s daily trading fees. However, it has been criticized for its lax regulatory oversight. Since its inception, KuCoin has built a strong reputation for reliability and security and has been praised for its low fees, advanced features, and comprehensive altcoin support. KuCoin was born out of the 2017 crypto bull market as a trading-focused centralized exchange. Customer service can experience delays due to high volume of users.Massive feature list can overwhelm beginners.Regulatory issues in certain nations – with multiple location-restricted services.Has been targeted (and successfully) hacked in the past. ![]()
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