Kucoin vs Binance

Introduction

So many cryptocurrency exchanges have been created, each trying its best to do better than the other. These exchanges come packed with similar features, and it may be difficult to pick one. This post is between two exchanges, Kucoin and Binance.

Kucoin

(Image Source : https://www.kucoin.com/)

Kucoin is a cryptocurrency exchange based in Hong Kong and began operations in 2017. The platform is secure and users will enjoy its modern feel while performing cryptocurrency transactions. Kucoin has enjoyed a successful launch, and the platform has not experienced hitches after its launch. From 2017 to present, several additions and improvements have been applied to the system, there has been the addition of more currencies to the platform, and mobile apps have been developed for mobile devices operating on both the iOS and Android OS.

Kucoin Features

• System Stability
• Variety of Assets
• API
• Safety
• Fast Transactions
• Customer Support
• Referral Bonus

Binance

(Image Source : https://www.binance.com/)

This is a Chinese-based cryptocurrency exchange that launched out with a large proportion of ICO listings; it has a crypto-to-crypto service that makes it a sort-after feature on the platform. Any new user visiting Binance the first time will be shown two options for carrying out trading transactions; one option is basic, while the other option is advanced. The ability to use either advanced or basic is totally dependent on the user’s knowledge field about exchanges.

Binance Features

• Multiple Language Support
• High Liquidity
• Safety Stability
• Covers All Devices
• Multiple Coin Support
• High Performance

Comparison

• Asset Support
  Kucoin supports only 179 trading pairs, and also with Kucoin tokens, NEO, and Bitcoin Cash.
  Binance supports 242 trading pairs, plus trading pairs with Ethereum and Bitcoin, it also supports pairs in US dollar tokens, and its own currency, the Binance coins.

• Fees
  Kucoin offers a fee of 0.1% per transaction, the dividend system allows Kucoin token holders receive half of the transaction.
  Binance also offers 0.1% per transaction and there are no fees required when making deposits.

• Security
  Kucoin supports 2-factor authentication, and since inception, there have not been any reports of them getting hacked.
  Binance also uses 2-factor authentication for verification and security, and they have also been no reports of being hacked.

• Customer Service
  The Kucoin customer support is known for its quick response to issues, and even has a telegram chat support that is always available 24/7.
  Binance takes days and in some cases, weeks to respond to tickets. This is mostly due to its system of handling customer support issues.

• Exchange Specific Cryptos
  Kucoin tokens enable the holder to receive 50% dividends from the exchange’s periodic profits.
  Binance coins enable the user make fee payments on the platform.

Conclusion

According to the comparisons, it may be difficult to pick one because they both have almost similar properties. Before signing up for any one of the exchanges, it is imperative that proper research and further comparisons are carried out. Picking an exchange is usually at the discretion of the user based on requirements and preference.