Many people are interested in making money through online trading, but when the Kucoin vs Binance platforms is compared, people become confused. Therefore, we have decided to share our comparison review in this article. So stop more browsing, and start reading this informative article;
What’s a Difference Between Binance and Kucoin?
Binance and Kucoin are two of the most popular cryptocurrency exchanges in the world. Binance is one of the top 10 largest cryptocurrency exchanges regarding trading volume, while Kucoin is still a relatively new exchange.
There are many differences between these two exchanges, such as their trading pairs, fees, and available cryptocurrencies. But what’s more important to know is that they have different use cases.
Binance focuses on trading cryptocurrencies, while Kucoin focuses on providing users with high-quality blockchain projects and ICOs to invest in.
Kucoin vs Binance: A complete overview
Binance is one of the top cryptocurrency exchanges with a strong focus on security and user experience. Kucoin, on the other hand, is a relatively new exchange that offers lower fees and a more transparent trading platform.
Kucoin is focused on providing an easy-to-use platform with low fees. It has also launched its own token called KCS, which can be used to trade on the platform. The company also plans to provide more features in the future. The following are some key features of Kucoin:-
- KuCoin has a very low 0.1% trading fee, compared with Binance’s 0.2%.
- KuCoin has a very transparent trading platform through technology and high-quality staff that objectively makes decisions.
- They provide a digital wallet for each trader to hold the cryptocurrencies they trade.
- Kucoin has been in operation since 2017 July and is based in Seychelles. The company operates a secure cryptocurrency exchange with low commission rates, an encrypted crypto wallet system to hold funds, blockchain-based payment options, and more.
- Kucoin is currently ranked 7th on the list of largest cryptocurrency exchanges by a total daily trading volume.
However, the Binance was created by Changpeng Zhao, who has been involved in cryptocurrency since 2013. The exchange offers over 100 coins and offers high liquidity for each coin it supports. It also provides users with tools such as margin trading, stop-loss orders, etc., making it easier for traders to use their crypto assets in different ways.
Binance is known as the “Binance Coin”, or BNB, which can be used to pay transaction fees on the exchange. For example, if someone wants to trade Bitcoin at a 1% fee, they will need to hold 1 BNB in their account. In comparison, Kucoin offers traders a referral program that gives users 10% of the trading fees for every person that signs up via their referral link.
In this article, we have concluded that Binance has a better user interface, lower fees, and a more extensive range of cryptocurrencies. However, the Kucoin is more beginner-friendly and provides a bonus for new users. Therefore, if you are an experienced trader, we highly suggest that you go with Binance, but if you are just starting, we recommend investing your money into Kucoin.