If you're new to this crypto world then you need to know about the best ways of investing and trading coins. In order to find such an exchange though, you should look at some comparisons - in this specific article, we’ll compare KuCoin VS Binance.
Both of these cryptocurrency exchanges have a similar business strategy and service. They each offer access to hundreds of altcoins that are otherwise hard to purchase. In addition to simply buying and trading crypto, they both offer loads of additional services such as futures market, crypto lending, trading bots, P2P marketplace, margin trading, referral programs, and more, all at relatively low fees. They both start at ~0.1% and have options to reduce this as you move up the trading tiers and or hold their native cryptocurrency.
- Fees. If you’re looking for your first cryptocurrency exchange site, and just want to “test the waters”, then fees are going to be an important factor to consider. However, if you’re already an experienced trader, and seek to max out your profits to the fullest extent possible, then fees are going to be an absolutely crucial aspect of choosing between a few different crypto exchanges! When it comes to the BINANCE VS KUCOIN rates, things are actually quite interesting - both platforms, while being widely accepted as offering the lowest fees for their users, are still rather different.
- Supported Coin Count. Cryptocurrencies have become a very popular topic. While there’s still the false notion of crypto being associated with some illegal activities lingering around among some people (that’s mostly thanks to things like Silk Road ), most people are starting to understand that blockchain technology truly is a thing of the future. With that, even beginner cryptocurrency traders are now seeking to purchase and trade some different coins, other than Bitcoin! Given that this is the case, it’s important that a top-rated exchange would provide you with such a possibility - the platforms in this KuCoin VS Binance comparison are no exception! But when we see the range we see that Binance has a wide range of supported cryptocurrencies. The number of cryptocurrencies Binance has is 305. And on the other hand, KuCoin has 221 supported cryptocurrencies! That means at this point Binance is the winner.
- User Count. The final number we should look into in this KuCoin VS Binance comparison is the actual active user count on both of the sites. Let me tell you in advance, though - KuCoin ain’t got nothing on Binance here.KuCoin’s user count ranges around 1 million marks. Binance has almost 14 times as many active users - close to 14 million! What does this mean for the average cryptocurrency enthusiast? Well, a couple of things. First of all, if you choose Binance as your main cryptocurrency exchange, you can rest assured that you won’t only be able to trade different cryptocurrencies, but also that all of your trades are going to be effective, in the sense that you won’t need to wait for weeks for a trade offer to the process. Now, admittedly, that’s also not the case with KuCoin, but when placed near and compared with Binance, well… Let’s just say that Binance truly is the more popular alternative here.
As you can see above, there is not much between them and in my personal opinion, you cannot go wrong with either option. Your choice really comes down to what you plan to do. If you want to trade large amounts every month, there is no question that KuCoin is the platform for you based on their superior tiered fee structure. KuCoin is also great if you want to try out a free crypto bot or make some residual income through their lending option (you can set it to auto lend every time the repayment is made). If you want access to as many cryptocurrencies as possible, Binance is a clear winner in the category. I would also recommend Binance to someone who intended to do some small-time trading and wasn't going to move up the tiers; paying your fees with BNB gets you a 25% discount, which is pretty good. So, the final answer on who is better really comes down to what you want to achieve.
