Binance.US 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.US competition?
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Round 1: KuCoin vs. Binance.US on vital statistics
Binance.US 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.
Both exchanges have announced the launch of a Visa debit card, but neither one has rolled out the offering at scale. The one thing that Binance.US has over KuCoin is the scale of its operation and the popularity of BNB versus KCS. Due to the widespread proliferation of Binance and its child entity Binance.US, it has won the round on vital statistics.
KuCoin offers far more coins than Binance.US. This is in part because Binance.US has operational limitations working within the borders of the United States. If a coin hasn’t been sufficiently vetted, then it won’t make it onto Binance.US’s platform.
KuCoin has a lot more freedom to offer a wide variety of coins. KuCoin wins this round because of its ability to offer far more cryptocurrencies to its users.
KuCoin offers way more fiat currencies than Binance.US. This is because Binance.US only operates in the United States and only offers the ability to deposit and withdraw in US dollars. 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.
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.US gives trading fee discounts for users paying fees with BNB. Binance.US wins the fees and costs round because its fee structure is drastically more simple than KuCoin’s.
Winner: Binance.US
Round 5: Wallets
Both Binance.US 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.US has over KuCoin is the fact that Binance Chain has been around longer, and the dApp ecosystem is more established than KuCoin’s.
Binance.US has a better wallet because of the number of ways to use the tokens within it.
Winner: Binance.US
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.
Binance.US is a slimmed-down version of Binance. Luckily, the removal of many options is actually a boon for beginners.
Winner: Binance.US
Round 7: Security
Although Binance.US has never been hacked, Binance has. However, it handled the hack very well and all users were compensated for any losses that occurred by drawing on its insurance fund.
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.US
Binance.US vs. KuCoin winner: Binance.US
Binance.US is a much better exchange for beginners as it’s won five of the seven rounds of analysis. The exchange positions itself as a platform that offers only the essentials to its user base.
Binance.US is able to focus on providing a few high-quality and easy-to-understand functionalities rather than many services of reduced quality. Keep in mind that Binance.US is only available to US citizens and that the global Binance exchange is a much more complicated platform.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Keegan Francis was a cryptocurrency writer for Finder. He has been invested in cryptocurrencies since 2013 and writing about them since 2018. He has written and edited for CryptoVantage. In 2020 he and his wife Mrugakshee Palwe opted entirely out of the world of traditional finance and went "full crypto", covering their experience in the Go Full Crypto podcast and via a Substack newsletter. Keegan holds a Bachelor of Computer Science from Acadia University, and has attained graduate certificates from Ivan On Tech's lightning network course and the Consensys Academy Ethereum bootcamp. When Keegan is not working on cryptocurrency, he enjoys travelling, rock climbing and playing piano.
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