Binance and KuCoin are two of the most popular crypto exchanges around. Both offer a wide range of trading assets, a great user interface, and low fees. However, there are differences between the two that traders should be aware of before making a decision on which exchange to use.
Both KuCoin vs Binance offer built-in wallets to provide users with an extra layer of security. These wallets also provide users with the ability to deposit and withdraw cryptocurrencies quickly, easily, and securely.
Both Binance and KuCoin have excellent support systems, with customer service agents that are available around the clock. This means that traders don’t have to worry about waiting too long for a response to their questions and can get help when they need it most.
Both platforms run regular trading contests for their users. These contests are a fun way to engage users and get them involved in the trading community. They are also a great way to earn free coins and rewards for making trades, which can be beneficial if you are an active crypto trader.
Both exchanges have a leverage system which allows you to buy more digital assets than you have in your account. This can be useful for newcomers and those who have a small amount of cryptocurrency but are looking to grow their portfolio.
Leverage tiers are also similar on both exchanges, with Binance offering a minimum of 125x and KuCoin a minimum of 100x. While this may sound like a lot, it’s important to note that the actual trading volume will dictate your max leverage.
Trading volumes are a huge consideration for traders, as they need to be able to make a living from trading. The higher the daily trading volume, the more liquidity there will be on a particular exchange.
The variety of coins offered by each exchange is another big factor in choosing a crypto exchange. Both Binance and KuCoin offer a large selection of altcoins which can be hard to find on other exchanges.
While the variety of cryptocurrencies is a major advantage, it is also important to consider that many of these coins are not regulated in the US. This can make it difficult for US investors to invest in these coins, which is why you should only trade with an exchange that is licensed in the United States.
KuCoin vs Binance Fees
Both KuCoin and Binance have a similar fee structure, with transaction fees starting at 0.1% and gradually reducing as you move up the tiers. The downside to this is that if you are a high-volume trader, KuCoin’s fees might be a little more expensive than Binance’s.
Withdrawal rates on both exchanges are determined by market demand and can fluctuate without notice. This is why it’s important to check their latest data and ensure you are getting the best possible rate.
Traders should also consider the type of coins they want to trade on each exchange. Both exchanges have a range of trading assets, with Binance supporting a wider range of cryptocurrencies than KuCoin.
DISCLAIMER: This article is sponsored and does not substitute for professional advice or help. Any action you take upon the information presented in this article is strictly at your own risk and responsibility.