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KuCoin vs. Binance: which crypto exchange is better?

Crypto beginners may find Binance simpler and easier to use than KuCoin. Read our 7-round comparison to see why.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Binance and KuCoin are powerhouse cryptocurrency exchanges.

Both of them aggressively add new features and cryptocurrencies to their platforms in an effort to outgrow each other. Both of them are considered general cryptocurrency exchanges that offer great basic services for beginners as well as a wide range of advanced features for professional traders.

Who will win in the KuCoin vs. Binance competition?

Round 1: KuCoin vs. Binance on vital statistics

KuCoin Cryptocurrency ExchangeBinance Cryptocurrency Exchange
Overall rating★★★★★★★★★★
Costs rating★★★★★★★★★★
Registered
Exchange locationHong KongCayman Islands
Offers a debit card
Earn returns on crypto
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Binance and KuCoin are both balanced exchanges, each offering a plethora of features and services to their customers. The exchanges were both established in 2017 and developed alongside one another, so they offer very similar features including earning on cryptocurrencies.

As one of the largest platforms around, Binance has a comprehensive amount of services including a debit card and the potential to earn returns on your crypto assets. However, it has experienced several issues with regulators in the past and is not available to Ontario-based users. The other thing that Binance has over KuCoin is the scale of its operation and the popularity of BNB versus KCS. Due to the widespread proliferation of Binance it has won the round on vital statistics.

Winner: Binance


Round 2: Supported coins

KuCoin Cryptocurrency ExchangeBinance Cryptocurrency Exchange
Number of tradeable crypto assets660370
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KuCoin offers far more coins than Binance. KuCoin wins this round because of its ability to offer far more cryptocurrencies to its users.

Winner: Kucoin


Round 3: Supported fiat currencies

KuCoin Cryptocurrency ExchangeBinance Cryptocurrency Exchange
Number of supported fiat currencies5034
Supported fiat currenciesGBP, ARS, AUD, EUR, AZN, INR, BRL, BGN, CAD, CLP, CNY, COP, NZD, CRC, CZK, DKK, DOP, USD, GEL, HKD, HUF, IDR, ILS, JPY, KZT, CHF, MYR, MXN, MDL, MAD, NAD, ZAR, NGN, NOK, PEN, PHP, PLN, QAR, RON, RUB, SGD, KRW, SEK, TWD, TRY, UAH, AED, UYU, UZS, VNDGBP, AUD, EUR, INR, COP, NZD, HRK, CZK, USD, HKD, IDR, ILS, KZT, KES, CHF, MXN, ZAR, NGN, NOK, PEN, PHP, PLN, RON, RUB, SAR, SGD, KRW, SEK, TWD, THB, TRY, UAH, AED, VND
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KuCoin offers way more fiat currencies than Binance. Both exchanges offer seamless deposit and withdrawal processes for their customers. KuCoin wins this round because it can support a wider range of beginners depositing fiat currency onto its platform from around the world.

Winner: Kucoin


Round 4: Fees and costs

KuCoin Cryptocurrency ExchangeBinance Cryptocurrency Exchange
Deposit FeesNoneNone
Trading Fee0.1%0-0.1%
Withdrawal FeesFees varyFees vary
Deposit methodsCryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPABank transfer (ACH)
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Simplicity is key for beginners. So with KuCoin’s remarkably complex fee structure, it’s not hard to declare a winner for which exchange offers better fees and costs to beginners. KuCoin has a tiered structure based on trading pairs and how much KCS users are holding.

Binance has some of the lowest fees among cryptocurrency exchanges. Deposit fees are low or non-existent and its trading fees are very competitive for both maker and taker trades. Binance wins the fees and costs round because its fee structure is drastically more simple than KuCoin’s.

Winner: Binance


Round 5: Wallets

Both Binance and KuCoin offer their users the ability to withdraw their cryptocurrency into their proprietary noncustodial wallets. They each feature the ability to hold their signature cryptocurrency directly on the blockchain they exist on.

Furthermore, both wallets support assets across multiple chains creating levels of diversity and flexibility within the app. The only edge that Binance has over KuCoin is the fact that Binance Chain has been around longer, and the dApp ecosystem is more established than KuCoin’s.

Binance has a better wallet because of the number of ways to use the tokens within it.

Winner: Binance


Round 6: Ease of use

KuCoin is a do-all sort of platform. When beginners first enter and sign up on the exchange, the volume of options available to them can be overwhelming. Even though KuCoin offers helpful educational material and guides to users, the initial impression of the home interface is one of clutter and confusion.

While Binance has a lot to offer, it’s not necessarily the easiest exchange to use straight away. But if you can persevere and familiarize yourself with its tools it can be very rewarding.

Winner: Binance


Round 7: Security

Binance operates in a decentralized fashion but has come under increasing scrutiny from regulators across the world. It has been hacked in the past but the hackers were only able to access 2% of the Bitcoin reserves as the rest was held in cold storage. All affected users had their funds returned.

KuCoin has a similar story with security. It was hacked in 2020 and also managed to restore user funds through outreach to cryptocurrency project administrators.

Since the time each of the hacks occurred, both exchanges have ramped up their efforts and compliance with security standards.

Winner: Binance


Binance vs. KuCoin winner: Binance

Binance is a much better exchange for beginners as it’s won five of the seven rounds of analysis. Binance is able to focus on providing a few high-quality and easy-to-understand functionalities rather than many services of reduced quality. While there are question marks surrounding its operations—and it is not available to residents in Ontario—its size and scale mean that it can offer more to crypto investors over the long term.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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